Elements of a new Approach to develop innovative Business Models for Electronic Markets

On the way into the information age, the utilization of new information and communication technologies (ICT) is changing the way we communicate, organize our work and companies, or do business in general. The significance of these developments is obvious, e.g., in financial markets. Since the emergence of the World Wide Web, the topic of open Electronic Markets (EM) has become a big issue. Analyzing the current situation we are observing different developments [Baldwin/ Clark 1997], [Evans/ Wurster 1997], [Sarkar et al. 1995], [Rayport/ Sviokla 1994]: An increasing utilization of networks and network services in businesses and households, ongoing globalization, decomposition of products, modularization of businesses, deconstruction of traditional value chains and emerging value webs, re-intermediation and new cybermediaries, emerging new products, platforms and services, shift of power.