Electronic commerce is turning into a new form of empowerment that is electrifying everything and everyone it touches in the world of business. Buyers sell and sellers buy. A customer is a competitor, and a competitor is a customer. On every front, opposites are blurring. It is, indeed, an exhilarating moment in the history of global commerce.
Electronic commerce is much more than online transactions.
We call this the Network Economy. And in this new economic order, the old laws are being torn apart. The coming of a new economic order was first noticed thirty years ago, when Peter Drucker perceived the arrival of knowledge workers. This gave rise to the notion of the Information Economy because of the important role of information. But then two other factors intervened, which transformed the Information Economy into the Network Economy.