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NETWORK ECONOMY AND THE IMPACT TO BUSINESS MODEL

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my presentation titled "NETWORK ECONOMY AND THE IMPACT TO BUSINESS MODEL", presented to Indonesian Knowledge Forum 2012 at Ritz Carlton - Jakarta, 29-28 September 2012 ...

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NETWORK ECONOMY AND THE IMPACT TO BUSINESS MODEL

  1. 1. strategy | innovation | performance Network Economy and the Impact to Business Model Riri Satria Founder and CEO – Value Alignment Advisory (VA2)
  2. 2. strategy | innovation | performance What is Network Economy? • The network economy is the emerging economic order within the information society. • The name stems from a key attribute - products and services are created and value is added through social networks operating on large or global scales. • This is in sharp contrast to industrial-era economies, in which ownership of physical or intellectual property stems from its development by a single enterprise. • Business models for capturing ownership rights for value embedded in products and services created by social networks are being explored.
  3. 3. strategy | innovation | performance It was predicted long time ago … • “The Third Wave” is a book published in 1980 by Alvin Toffler. • Toffler's book describes the transitions from industrial age society, which he calls the “second wave", to information age named “third wave" society. • In summary : – the first wave is settled agricultural society, – the second wave is industrial age society, – the third wave is post-industrial society or information society.
  4. 4. strategy | innovation | performance Waves of Economy Paradigm First wave : AGRICULTURE ECONOMY Second wave : INDUSTRIAL ECONOMY Third wave : DIGITAL / NETWORK / KNOWLEDGE ECONOMY Fourth wave : CREATIVE ECONOMY NEW ECONOMY
  5. 5. strategy | innovation | performance Other Names to Network Economy • Digital economy • Knowledge economy • Relationships economy
  6. 6. strategy | innovation | performance The Internet SOCIAL INTERACTIONS INFORMATION SOCIETY THE INTERNET
  7. 7. strategy | innovation | performance How do internet change business model? • Cut-off the business • Improve the business • Redefine the business • Create new model
  8. 8. strategy | innovation | performance Cut-off the Business What happened to postcards?
  9. 9. strategy | innovation | performance Improve the Business The basic concept of the business is still the same, but the process is improved.
  10. 10. strategy | innovation | performance Redefine the Business The basic concept of the business is changed, and the process is improved as well.
  11. 11. strategy | innovation | performance Create New Model New business model, never exist before.
  12. 12. strategy | innovation | performance New Trend : Social Media • Social media includes web- and mobile-based technologies which are used to turn communication into interactive dialogue among organizations, communities, and individuals. • A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content. • A type of online media where information is uploaded primarily through user submission. Web surfers are no longer simply consumers of content, but active content publishers. • A broad term used to define website and web applications where you have social interactions around a media form (text, images, audio, video, or any combination of them). Examples of social media include blogs, online forums, social networks, Wikipedia and so on.
  13. 13. strategy | innovation | performance The Basic Principle of Social Media SOCIAL INTERACTIONS SOCIAL NETWORK SOCIAL CAPITAL
  14. 14. strategy | innovation | performance Business Transactions using Social Media SOCIAL CAPITAL BUSINESS TRANSACTIONS BUSINESS PERFORMANCE
  15. 15. strategy | innovation | performance The Generic Model of Internet / Social Media and Business Performance BUSINESS PERFORMANCE THE USE OF INTERNET 1. CONSTRUCT INFORMATION SOCIETY 2. MANAGE SOCIAL INTERACTIONS 3. GENERATE SOCIAL NETWORK 4. GENERATE SOCIAL CAPITAL 5. DO BUSINESS TRANSACTIONS Research by Riri Satria in 2010 - 2011
  16. 16. strategy | innovation | performance New Paradigm : The Long Tail Sales by title often follow the Pareto distribution (or power law) – highly skewed with around 80% of the sales coming from the top 20% of the titles (the “hits”). The 80/20 rule says concentrate on the hits – ignore the long tail.
  17. 17. strategy | innovation | performance The New Paradigm : FREE-mium Strategy Old paradigm : Do business transactions first, the give something free to the market or society New paradigm : Give something free to the market or society first, then the business transactions will come to you.
  18. 18. strategy | innovation | performance New Paradigm : the Social Organization • Organization should manage the network through high interactions and create social capital. • The social capital is the key for business transactions
  19. 19. strategy | innovation | performance New Paradigm : Marketing 3.0 • Marketing 1.0 : – Make and sell (push marketing) • Marketing 2.0 : – Analyze, make, and sell (pull) • Marketing 3.0 : – Collaborate, make, sell, feedback
  20. 20. strategy | innovation | performance The current(?) and next customer / employee • They want freedom of choice and freedom of expression • They love to customize, personalize • They are the new scrutinizers • They look for corporate integrity and openness when deciding what to buy and where to work • They wants entertainment and play in their work, education, and social life • They are collaboration and relationship generation • They has a need for speed • They are the innovators
  21. 21. strategy | innovation | performance Business Model Canvas
  22. 22. strategy | innovation | performance Value Provided • Collaborative value creation • Define specific value for specific groups • Could be generic products, but specific value • Listen to your (potential) customer
  23. 23. strategy | innovation | performance Customers • Redefine the “segments”. • Local  Regional  Global • Customers could be anywhere • Clear  Unknown
  24. 24. strategy | innovation | performance Customer Relationships • Hear them, know their preferences • Maintain social interactions • Quick response to their complaints • One-to-one relationships • Never underestimate • Loyal is result of openness
  25. 25. strategy | innovation | performance Channels • Internet is the marketing channels • Your customers are marketing channels • Amplify word of mouth • Use cross-channel • Social-marketing strategy
  26. 26. strategy | innovation | performance Key Resources • Internet is also key resource • Employee empowerment  engaged • Loyal is result of openness and integrity • Knowledge sharing / collaboration facilities • Competition in finding talents • Work-life balanced for employee
  27. 27. strategy | innovation | performance Key Activities • Integrated enterprise architecture • Maintain external value chain • More collaborative human process
  28. 28. strategy | innovation | performance Key Partners • Searching for suppliers, and expertise • More collaborative • Social capital • Openness and integrity
  29. 29. strategy | innovation | performance Financial Issues • Free is the investment • The long tail
  30. 30. strategy | innovation | performance the Impact to Business Model (as summary) • VALUE PROVIDED  generate value by collaboration with stakeholders • CUSTOMERS  from more local to more global and unknown • CUSTOMER RELATIONSHIPS  use internet to maintain customers • CHANNELS  use internet to inform the world about your product • KEY RESOURCES  internet is also your key resources now (empowerment) • KEY ACTIVITIES  spread around players, use internet to manage them • KEY PARTNERS  use internet to manage your key partners • FINANCIAL ISSUES  free is investment, manage the cash flow
  31. 31. strategy | innovation | performance ririsatria@va2indonesia.com ririsatria@gmail.com ririsatria.va2 http://ririsatria40.wordpress.com Thank You @ririsatria http://about.me/ririsatria

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