PART (1) ‘Laws’ in the digital economy
- What is Moore’s Law?
- Metcalfe’s Law?
- Reed’s Law?
- Why is it important for managers and entrepreneurs to understand these laws?
- Take a digital company of your choice. How any of these laws apply to this company?
PART (2) Network effects
- What are network effects? How many types of network effects exist?
- How are they different from other economic laws, particularly traditional ‘economies of scale’?
- What are ‘data network effects’? How are they different from traditional ‘network effects’?
- Provide examples of businesses with network effects. Explain how they apply to these businesses.
- Why is understanding ‘network effects’ important for managers?