Buying power: according to John Hagel, the Web is turning business on its head

Article Abstract:

John Hagel III, who leads McKinsey & Co.'s electronic commerce operations, says the emergence of the Web is having a powerful impact on business by giving more power to customers in their relations with merchants and manufacturers. Hagel says the key involves gathering information about customers and using that information for commercial purposes. Hagel says whoever controls information will have the advantage in an electronic-commerce world. He says businesses need to be clear about what information is most important to them and should not spare expenses in attempting to obtain that information. He says businesses in traditional industries will be forced to ask themselves fundamental questions about what business they are really in. Hagel is the author of a popular book called 'Net Gain' and is working on a soon-to-be-published second book called 'Net Worth.'

Market information - general, Forecasts, trends, outlooks, Videotex & Teletext, Officials and employees, Forecasts and trends, Industry trend, Interview, World Wide Web, McKinsey and Company Inc., Hagel, John

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In China, a thousand news stories bloom on the Web

Article Abstract:

Although the news is limited to what it can report in China, people have been using the Internet to tell others about crimes that happen in their personal lives which otherwise would remain fairly hidden. In one case where a woman was murdered, the family felt slighted when it wasn't reported on the news because the level of brutality of the murder, so they reported it on the Internet. Since there are no laws governing the Internet yet in China, the story was able to reach a large percentage of the population. This seems to be a new difficulty in the governing of media in China.

China, Legal issues & crime, Laws, regulations and rules, Web sites (World Wide Web), Web sites, Internet/Web technology

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X.com's PayPal will reimburse consumers defrauded online

Article Abstract:

PayPal announced that it will reimburse consumers who are defrauded when they try to buy goods over the Internet. Cases of fraud have been reported, and experts say the payment service is vulnerable to abuse.

Investigations, Fraud, Online shopping, Public relations, PayPal.com Inc.

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