¶ … Tail I tend to agree in some aspects, but this trend itself is nothing but a temporary market correction that reflects a natural balancing effort.
Anderson (2004) argued that the laws of supply and demand can be viewed in a different manner that can positively affect an organization's ability to create and sustain a competitive advantage within a market. Using the entertainment market as an example, he suggested that opportunities exist in fulfilling specific and unique customer demands in smaller quantity and dismiss more mainstream approaches.
The purpose of this essay is to explain how the economics of abundance discussed in this article, or the long tail approach, may be applied in managing information systems. This essay will suggest that all systems are about finding a balance point between quantity and quality and in some cases, as in the long tail scenario, they are not asymmetrical.
When organizations seek to tailor the fine entertainment tastes described in Anderson's work, they discover that there are many customers who will readily spend money on attaining unique and special items. It is a growing trend to become an outsider and prefer things outside the mainstream it appears from this author's ...
Information is useful based on its quality. Saying yes 500 times in a row does little to affect the affirmative properties of the word, and would soon become annoying if repeated to that point. This highlights the need to differentiate between necessary and non-necessary information. The challenges of our times is that the overload of information has created a scenario where too much information becomes non-economical.
A statistical long tail demonstrates the value in approaching those customers who lie outside the statistical main stream or collection point. There is money to be made on the outside fringes if the right approach is to be taken. Technology has placed much power in the consumer's hands and their ability to select and eventually find what they are looking for can be readily performed with information systems and inferential investigation. Outliers contain value for the society and the mainstream, has perhaps less than what was originally predicted.
To truly understand Anderson's argument means that economics flows in waves and trends that feeds on the absence of things. The human condition needs to search for that what it does not have, and making it too easy on people will cause them to look elsewhere.…
I tend to agree in some aspects, but this trend itself is nothing but a temporary market correction that reflects a natural balancing effort.
Tail Economics Book Analysis: The long tail. How endless choice is creating unlimited demand In the past, economics' was dominated by vendors that sold a large quantity of only one or two items. The Internet has changed the shape of product offerings. The new economic model, first made popular by Chris Anderson in an article published in Wired magazine, examines the new economic model. This model is based on each vendor
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76). As automation increasingly assumes the more mundane and routine aspects of work of all types, Drucker was visionary in his assessment of how decisions would be made in the years to come. "In the future," said Drucker, "it was possible that all employment would be managerial in nature, and we would then have progressed from a society of labor to a society of management" (Witzel, p. 76). The
Consultant Pharmacists Impact on the Treatment of Hypercholesterolemia What is Cholesterol, and Why is it of Concern? Guidelines for Treating Hypercholesterolemia Management of Hypercholesterolemia Management of Hypercholesterolemia By Different Health Care Workers. Practical Management of Hypercholesterolemia Community Pharmacists and the Management of Hypercholesterolemia Economic Impact of Pharmacists' Treatment of Hypercholesterolemia This paper will look at the impact of consultant pharmacists on the treatment of hypercholesterolemia by physicians. Pharmacists have now assumed responsibilities outside the dispensing counter and have
WorldCom (CEO Bernard Ebbers) supported by years of profitability arising from the deregulation of phone companies was a fast moving stock that was highly toted by stock specialists as a must buy, even while it was seriously hemorrhaging from bad and fraudulent business deals and its own shoddy accounting, cover ups and bad investment deals. WorldCom quickly supplanted at&T as the favorite of many investors, based heavily on Grubman's recommendations.