Strategies for value creation in electronic markets: towards a framework for managing evolutionary change

Hackney, Ray A., Burn, Janice M. and Salazar, Angel (2004) Strategies for value creation in electronic markets: towards a framework for managing evolutionary change. Journal of Strategic Information Systems, 13 (2). pp. 91-103. ISSN 0963-8687

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Abstract

This paper reviews the theoretical relevance of strategic analysis in eMarkets and advocates for a co-evolutionary approach to value creation and the management of change. A view of strategy is recognized which includes an evaluation of the stages and processes of evolution for these markets. A framework encompassing critical elements such as e-market ecosystems, e-alliances, e-knowledge and e-systems, is developed and advanced for further strategic analysis. The model is believed to be of value for conceptual assessment of virtual business communities where unique attention to continuous innovation and dynamic organizational adaptation are considered imperative for competitive success. This is increasingly characterized by paradoxical issues, such as competing in the present time and building long-term strategic competences for the future. The model is validated with relevant examples and a substantive case study.