Now Economy

From CommerceNet Wiki

An economy where goods and services strive to be free, perfect, and now.

The term Now Economy is an evolving vision for what comes after the New Economy as we fully assimilate the impact of Internet technology on commerce. Just as the first TV shows were radio plays before we invented soap operas and reality shows, so far the Web-versions of companies are still-recognizable relatives of bricks-and-mortar commerce. Our efforts to track the emergence of innovative new networks-of-firms can be found on The Now Economy Blog. Below are some of the earliest citations of the phrase:

Contents 1 From the Global Business Network (GBN) 2 From The Economist 3 From Line56.com 4 From Electronics Supply & Manufacturing

[edit] From the Global Business Network (GBN)

GBN's Annual Forum Report: The Now Economy in January 2001:

..we realized the importance of moving beyond the old economy/new economy rhetoric in order to embrace the Now Economy -- one that builds on the industrial and even pre-industrial past, defines the present, and shapes our futures.

[edit] From The Economist

Ludwig Siegele in How about now? in a survey of the Real-Time Economy on 31 January 2002:

In years to come, experts predict, many companies will use information technology to become a “real-time enterprise�—an organisation that is able to react instantaneously to changes in its business. And as firms wire themselves up and connect to their business partners, they make the entire economy more and more real-time, slowly but surely creating not so much a “new� but a “now� economy.

[edit] From Line56.com

Max More, Ph.D. in The Now Economy on 14 May 2002:

Never mind New Economy vs. Old Economy industries. What matters is whether your business enjoys intelligently revised and technologically-enhanced business processes. Business process innovation is beginning to move in concert with accelerating technological evolution. Say goodbye to the "New Economy"; meet the Innovation Economy or the Now Economy. We are witnessing the emergence of real-time extended enterprises (RTEEs) which will comprise the bulk of the Now Economy. In the Now Economy, information flows rapidly through supply and demand chains, crossing corporate boundaries, ensuring maximum efficiency and responsiveness.

[edit] From Electronics Supply & Manufacturing

Rob Rodin, CommerceNet's Executive Chairman in Prepare for the now economy on 1 October 2004:

Try to imagine how all of these technologies, business processes and trends might converge and feed off each other. What does the nexus of VoIP, TiVo, IM, RFID, Google and Generation C look like? Here are a few things you can count on:

1. Connectivity among people around the world will increase exponentially, using a variety of technologies.
2. Instant access to information of any kind will be a given.
3. A global grid will evolve connecting billions of things to millions of intelligent sensors or agents, creating a seamless network.
4. Globalization will continue apace as markets open not just for goods and services but also for talent and intellect.

Call it the "now economy" or the "sense-and-response economy." Whatever the label, the future requires your company to be flexible, scalable, matrixed and dynamically aligned.