Chapter 11: Information and communication Technologies in the Hollywood’s global Primacy

Hollywood, Defined Hollywood is a physical place, a district of the city of Los Angeles, California. Hollywood is a metaphor for the American entertainment industry. Hollywood is defined as the system of the US entertainment industry revolving around the following six major companies that are part of the Motion Picture Association of America (MPAA): Paramount […]

Chapter 10: Thriving in a new economy

Digital Economy Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also sometimes called the Internet Economy, New Economy, or Web Economy. Digital economy is defined as an […]

Chapter 7: Networks and Positive Feedback

Network and Positive Feedback Introduction The industrial economy was populated by oligopoly industries in which a few large firms dominate markets. Examples of oligopolies include:  Automobiles industry  Steel industry  Aluminum industry  Various chemical markets The difference is that the old industrial economy was driven by economics of scale while the new […]

Chapter 6: Market Strategies: Switching costs and Lock-in

Recognizing Lock-In When the costs of switching from one brand of technology to another are substantial, users face lock-in.  Situation when user is compelled to stick to current brand or product Switching costs and lock-in are ubiquitous in information systems, and managing these costs is very tricky for both buyers and sellers. Examples of lock-in […]

Chapter 5: Rights Management

Rights Management Rights management is a term for control systems that allow a rights owner to control over information immediately. It enables publishers of information to control what recipients can do with it in order to prevent intellectual property theft, stop unauthorized sharing and piracy. Digital rights management (DRM) It is a systematic approach to copy right protection for digital media. The purpose […]

Chapter 4: Strategies for Pricing Information

Pricing Information Goods Encyclopedia Britannica sold 32 volume of hard cover book for $1,600 but Microsoft sold the similar information goods in CD at $49.95. then Britannica started providing online subscription at $ 2000 per year large libraries took the subscription but market share started eroding. In 1990, Britannica, started selling CD to home market […]