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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of David Evans and Richard Schmalensee's book: "Catalyst Code: The Strategies Behind the World's Most Dynamic Companies".
This complete summary of the ideas from David Evans and Richard Schmalensee's book "Catalyst Code" shows how many of the most successful and profitable companies in the world became that way by acting as 'business catalysts' - they make their profits by bringing together different and distinct customer groups who interact with each other using the same platform. In their book, the authors use examples from companies such as eBay and Microsoft to show how they have achieved impressive success using this business catalyst strategy. By reading this summary, you will learn the secrets behind some of the biggest companies in the world and discover how you can adapt their strategies to your own business.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "Catalyst Code" and find out how you can become a business catalyst and achieve success.
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Seitenzahl: 38
Veröffentlichungsjahr: 2013
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Book Presentation
Catalyst Code by David Evans and Richard Schmalensee
Book Abstract
MAIN IDEA
Many of the most successful and profitable companies in the world became that way by acting as “business catalysts” – parties who make their profits by bringing together different and distinct customer groups who interact with each other using the same platform. Companies which have achieved impressive success using this catalyst business strategy have included:
eBay – which has built an online empire by making auctions available to buyers and sellers.
Amazon.com
– which started as an e-tailer and now makes good money by letting other merchants use its business systems.
Visa – which has grown by getting merchants and cardholders to use the same transaction platform.
Microsoft – with its Windows operating system which generated $42 billion in applications business in 2004 alone.
Google – which provide a free search engine funded by advertisers who want to reach those people who are searching for things.
Simon Properties – a mall developer who brings retailers and shoppers together in an attractive environment.
The Wall Street Journal-who
publish a newspaper with content that attract readers who, in turn, attract advertisers.
In total, catalysts are the new power brokers of the business world and utilize a strategy which is worth emulating if you can. To build a successful business catalyst, six steps are involved:
About the Author
DAVID EVANS is the founder of Market Platform Dynamics, a consulting firm specializing in complex business strategy and business models. He has more than 25 years experience in the payments, software, telecommunications and digital media industries. Dr. Evans is a lecturer at the University of Chicago Law School and a visiting professor at the University College London. He is a graduate of the University of Chicago. Dr. Evans has co-authored several books including Paying With Plastic.
RICHARD SCHMALENSEE is the chairman of Market Platform Dynamics and is widely considered to be an authority on market design and structure. Dr. Schmalensee is also dean of the Massachusetts Institute of Technology’s school of management and professor of management and economics at MIT. He served as a member of the U.S. President’s Council of Economic Advisers from 1989 to 1991. Dr. Schmalensee has also served as a consultant to numerous private firms and government agencies. In addition to co-authoring Paying With Plastic, Dr. Schmalensee is also the author of Invisible Engines. Dr. Schmalensee is a graduate of MIT.
The Web site for this book is at www.catalystcode.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Catalyst Code (David Evans and Richard Schmalensee)
What are business catalysts?
In the physical world, a catalyst is a substance that causes or accelerates a reaction between two (or more) other agents. Business catalysts do something similar. They cause or accelerate commercial transactions between two or more customer groups who otherwise would never have come together. These customer groups need each other in some way but without the help of the catalyst would never be able to interact. Catalysts create convenient and appealing platforms which attract and benefit both sides of the transaction. In short, catalysts are the new business power brokers.
Traditional businesses use a one-sided value chain: Manufacturing
Catalysts, by contrast, create a platform which attracts two or more different customer groups. These customer groups then use the platform to deliver value to each other. The catalyst brings them together more efficiently than would otherwise be happening.
Companies generally earn profits by making things and selling them to customers or by providing services customers are willing to pay for. Catalysts, by contrast, can generate revenues in a number of different ways. For example:
By charging customers for access to the platform.
By charging a participation fee or something similar.
By collecting a commission on each successful interaction.
For acting as a matchmaker.
For providing search services.
The three core functions of business catalysts are:
To act as matchmakers
– by creating a common marketplace where people from different customer groups can find each other cost effectively.
To be audience builders
