Management of Engineering and Technology
eBay (Firm) -- Management, Technology -- Management, Technological innovations, Strategic management
One company that has been described as growing faster in its first decade than any other enterprise in the history of capitalism is eBay. It has been regarded as the dotcom survivor.
eBay was founded by Pierre Omidyar in 1995 as a marketplace for the sale of goods and services for individuals. Not only was it a novel idea, but it was utilizing an innovative technology - the Internet. E-commerce had not yet been established as an acceptable and understandable method of doing business at that time. eBay has since . changed the way people think. It has fostered the idea that trust can be established over the internet and has put its loyalty in its users. It has also been a source of a community-based company in which the collective intelligence and enthusiasm of its 157 million customers determine and drive the daily actions of its 9,300 employees.
Guided by CEO, Meg Whitman, eBay has been growing at a tremendous rate. Acquiring a number of big companies has been part of eBay's success as well as expanding globally. It now operates in more than 27 countries and is still planning on more expansion efforts. This year, roughly half of its revenues will originate outside the U.S.
The concept that eBay was based on is still followed until this day. It is the reason why eBay continues to be so successful. It is not all about management employees, but rather on guiding and understanding the users. eBay was supported by a set of norms that continues to guide eBay and which the company hopes would guide its members as well, these norms are:
eBay is a community where we encourage open and honest communications between all of our members. We believe in the following five basic values:
- We believe people are basically good
- We believe everyone has something to contribute
- We believe than an honest, open environment can bring out the best in people.
- We recognize and respect everyone as a unique individual.
- We encourage you to treat others the way that you want to be treated.
Batarseh, Roda, "Inside eBay" (2004). Engineering and Technology Management Student Projects. 1351.