ebay

Name

Instructor 's name

Course

Date

E - BAY

Through the early 1990 's , much material came out of the United States which talked of The New Economy . Forecast for an imminent entry , the promise of the forthcoming paradigm change was based on breakthroughs in Information Technology . In it lay the power to harness the new and often perplexing trends which were being sensed rather than seen Entrepreneurs and managers were advised to prepare for tectonic shifts in consumer behavior and be ready to adapt to the change in environment

br - or perish . For those who did anticipate well and change , huge profits were to be unleashed . The premise was as stupendous as it was simple - the world was reduced to a bless entity where goods and services would move to a point of demand without the traditional impediments of international geographic barriers (Manning , 225

Everyone talked about the Internet and it made its ubiquitous presence felt worldwide in business and in personal lives . It was quite clear that anyone who had the talent and imagination could make a fortune out of E commerce and its limitless possibilities . Those early days did see the rise of a handful of entrepreneurs who explored the frontiers of this new opportunity and were to become instant billionaires (Kumar 378

In these exciting times , someone named Pierre Omediyar , prepared to help his fiancye trade candy dispensers . In doing so , he founded e - Bay possibly the largest online auction company in the world . The story , of course goes beyond this mundane fact , and talks about how Omediyar , now eBay 's Chairman , thought about a retail equivalent of NASDAQ , straddling the mind space of buyers and sellers of goods worldwide through the power of the Internet

Founded in 1995 in San Jose , California , eBay , inspired by its founder 's vision was also directed by Meg Whitman , CEO . E Bay went public in 1998 making Omediyar a billionaire at the same time . In 2002 , quarterly revenues reported by the company were almost 414 million and by 2007 had touched close to 8 billion . The company now has over 11000 employees and serves over a dozen countries . Famously identified by its slogan , `Whatever it is you can get it on eBay , the organization today deals with shopping malls , electronic commerce , online auction hosting among a host of others

One of its staple features , `Collectibles , illustrates the entrepreneurial drive of the company and its stakeholders . The very first item sold on e Bay was a broken laser printer . When asked by Omediyar if he knew of this fact , the bidder declared that he was a `collector ' of broken laser printers . The world according to e Bay is full of such curious collectors , who meet and transact with sellers on its portal (Kumar , 379

This is because of the imagination at the company 's disposal which perceives trends and converts these facts into sales figures . E Bay offers different types of auction platforms : Listings - buyers and sellers can offer several items...