5.to project an image --Businesses that can point to their growing e-commerce activity are able to project an image of being in-tune with the times,and show their preparedness for tougher competition in the future. 6.to capture --Eastman Chemical has already conducted 13 percent of its sales electronically in 2001 and stated its goal to capture more than 50 percent of its sales through electronic channels over the next three to four years. 7.to keep...abreast of--Those corporate leaders who are not shy about reporting e-commerce activity have begun to keep their shareholders abreast of their e-business initiatives in their companies'annual reports. 8.to roll out--With a new round of annual reports for 2001 about to start rolling out later this year,it will be interesting to see what other companies have to say. Acting out If the teacher would like to organize a debate on new economy,you can divide students into groups of four.In each group there is one representative,who will summarize the group's view. What is new economy about? When we talk about the new economy,we're talking about a world in which people work with their brains instead of their hands.A world in which communications technology creates global competition -not just for running shoes and laptop computers,but also for bank loans and other services that can't be packed into a crate and shipped.A world in which innovation is more important than mass production.A world in which investment buys new concepts or the means to create them,rather than new machines.A world in which rapid change is a constant.A world at least as different from what came before it as the industrial age was from its agricultural predecessor.A world so different its emergence can only be described as a revolution. By the New Economy,we mean two broad trends that have been under way for several years.The first is the globalization of business.The second trend is the revolution in information technology. Three Forces Driving the New Economy 1.Knowledge-intellectual capital as a strategic factor;a set of understandings used by people to make decisions or take actions that are important to the company 2.Change-continuous,rapid and complex;generates uncertainty and reduces predictability 3.Globalization-in R&D,technology,production,trade,finance, communication and information,which has resulted in opening of economies, global hypercompetition and interdependency of business5. to project an image -- Businesses that can point to their growing e-commerce activity are able to project an image of being in-tune with the times, and show their preparedness for tougher competition in the future. 6. to capture -- Eastman Chemical has already conducted 13 percent of its sales electronically in 2001 and stated its goal to capture more than 50 percent of its sales through electronic channels over the next three to four years. 7. to keep … abreast of -- Those corporate leaders who are not shy about reporting e-commerce activity have begun to keep their shareholders abreast of their e-business initiatives in their companies' annual reports. 8. to roll out -- With a new round of annual reports for 2001 about to start rolling out later this year, it will be interesting to see what other companies have to say. Acting out If the teacher would like to organize a debate on new economy, you can divide students into groups of four. In each group there is one representative, who will summarize the group’s view. What is new economy about? When we talk about the new economy, we're talking about a world in which people work with their brains instead of their hands. A world in which communications technology creates global competition - not just for running shoes and laptop computers, but also for bank loans and other services that can't be packed into a crate and shipped. A world in which innovation is more important than mass production. A world in which investment buys new concepts or the means to create them, rather than new machines. A world in which rapid change is a constant. A world at least as different from what came before it as the industrial age was from its agricultural predecessor. A world so different its emergence can only be described as a revolution. By the New Economy, we mean two broad trends that have been under way for several years. The first is the globalization of business. The second trend is the revolution in information technology. Three Forces Driving the New Economy 1. Knowledge – intellectual capital as a strategic factor; a set of understandings used by people to make decisions or take actions that are important to the company 2. Change – continuous, rapid and complex; generates uncertainty and reduces predictability 3. Globalization – in R&D, technology, production, trade, finance, communication and information, which has resulted in opening of economies, global hypercompetition and interdependency of business 7