Strategic Information Management, 3rd Edition

12 Strategies in Response to thePotential of ElectronicCommerce

Market process reengineeringthrough electronic marketsystems: opportunities andchallenges

H. G. Lee and T. H. Clark

Over the past few years, various electronic market systems have been introduced by market-making firms to improve transaction effectiveness and efficiency within their markets. Although successful implementation of electronic marketplaces may be found in several industries, some systems have failed or their penetration pace is slower than was projected, indicating that significant barriers remain. This chapter analyzes the economic forces and barriers behind electronic market adoptions from the perspective of market process reengineering. Four cases of electronic market ...