As humans we have been trained for millennia to operate in an environment of scarcity. We therefore habitually horde; we horde food, information, resources even if we don't need them - 'just in case'. Today, in the U.S., we live in an environment of abundance. Not everyone has adapted well to this environment but those who have adapted have learned to prioritize and be selective.
Businesses often operate as if they are still operating in a scarcity economy but the Internet - and the global marketplace that it has created - has given their customers an abundance of options too. Custom-build solutions are no longer as prohibitively expensive as they used to be because of access to global talent.
So what do people - and customers - select when they have an abundance of choices? They choose to do business with people they like and trust. Businesses who do not understand this will increasingly loose opportunities to companies that not only provide a valuable product or service but also provide customers with access, transparency, and friendship.
Hi Rachel - great post and very helpful as we consider how best to align with customer needs and motivators. With the shift to a networked information economy, most of the items that were once scarce - and therefore the basis for competitive advantage - are now abundant. It would be helpful to talk with you about how you see this impacting the enterprise and digital (edge) economy.
Posted by: Bruce MacVarish | April 05, 2008 at 11:19 AM