Abstract
The aim of this paper is to explore the Internet as a new locus for value creation. Three value‐adding strategies ‐ content, context and infrastructure ‐ are used to analyse three examples of Internet ventures involving a virtual university, the restaurant business and the music industry. The establishment of a home page on the Internet creates a new context in which providers and consumers of products and services interact and transact more conveniently and cost‐efficiently. It is argued that a new context may enhance the quality of content itself. It is therefore crucial for managers to consider the effect of Internet on all the components of the value proposition, separately and in aggregation.
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