The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
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The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
The Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancezation is the most important business technology of our era. while investments in information technology are large, the real economic impact is the way these technologies catalyze enterprise transformation. Computerization involves much more than just computers. Rather, computer capital is just the The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancetip of much larger iceberg of organizational "investments" in new business processes, human capital and industry restructuring. Case studies and firmThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
level econometric evidence show that: 1) organizational investments have a large influence on the value of IT investments; and 2) the benefits of IT iThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceonly the direct contributions of information technology capital, but more importantly the contributions of intangible organizational capital accumulated in the past.Erik Brynjolfsson is the Schussel Professor of Management, Sloan School of Management, Massachusetts Institute of Technology, Cambridge The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance, Massachusetts and Director of the Center for eBusiness at MIT. Lorin M. Hitt is Associate Professor of Operations and information Management, WhartoThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
n School, University of Pennsylvania, Philadelphia, Pennsylvania. Their e-mail address ■; IL'The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
n supply chain management techniques, strategies for customer relationship management, methods for enterprise resource planning and a host of other trThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancees to fundamentally change the way they use inputs to create value. The cost of developing and implementing these complementary innovations can dwarf the direct cost of computers by an order of magnitude or more, for instance, as discussed below, in a typical enterprise resource planning project, th The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancee cost of computer hardware accounts for less than 5% of the total start up costs. More effective use of computers depends on measuring, understandingThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
, and improving these complementary innovations. This requires a new set of economic and management tools, as well as an expanded conception of capitaThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceal investment, but as a "general purpose technology" (Bresnahan and Trajtenberg, 1995). in most cases, the economic contributions of general purpose technologies are substantially larger than would be predicted by simply multiplying the quantity of capital investment devoted to them by a normal rate The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance2of return. Instead, such technologies are economically beneficial most.ly because they facilitate complementary innovations.Earlier general purpose tThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
echnologies, such as the telegraph, the steam engine and the electric motor, illustrate a pattern of complementary innovations that eventually lead toThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancephy. However, some of the most interesting and productive developments were organizational innovations. For example, the telegraph facilitated the formation of geographically dispersed enterprises (Milgrom and Roberts, 1992); while the electric motor provided industrial engineers more flexibility in The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance the placement of machinery in factories, dramatically improving manufacturing productivity by enabling workflow redesign (David, 1990). The steam engThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
ine was at the root of a broad cluster of technological and organizational changes that helped ignite the first industrial revolution.In this paper, wThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance at the firm Level. Our central argument Ls twofold: first, that a significant component of the value of IT is its ability to enable complementary orqanizal, ional investments such as business processes and work practices; second, these investments, in turn, lead to productivity increases by reducin The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceg costs and, more important 1 y, by enabling firms to i ncrease Out pul quality in the form of new products or in improvements in intangible aspects oThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
f exifii i ng products like convenience, I loneliness, qu.il i I V, and variety. ’ There is substantial evidence from both the case literature on indiThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancesis on firm-level evidence stems in part from our own research focus but also because firmlevel analysis has significant measurement advantages for examining intangible organizational investments and product and service innovation associated with computers.Moreover, as we argue in the latter half of The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance the paper, these factors are not well captured by traditional macroeconomic measurement approaches. As a result, the economic contributions of computThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
ers are likely to be understated in aggregate level analyses. Placing a precise number on this bias is difficult, primarily because of issues about hoThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceors into a growth accounting framework. However, our analysis suggests that the returns to computer investment may be substantially higher than what is assumed in traditional growth accounting exercises and the total capital stock (including intangible assets) associated with the computerization of The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancethe economy may be understated by a factor of ten.Taken together, these considerations suggest the bias is on the same order of magnitude as the curreThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
ntly measured benefits of computers.Thus, while the recent macroeconomic evidence about computers contributions is encouraging, our views are more strThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancein over a decade of computer-enabled organizational investments. The recent productivity boom can in part be explained as a return on this large, intangible and largely ignored form of4capital.Examples of Enterprise TransformationCompanies using IT to transform the way they conduct business often sa The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancey that their investment in IT complements changes in other aspects of the organization. These complementarities have a number of implications for undeThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
rstanding the value of computer investment. To be successful, firms typically need to adopt computers as part of a "system" or "cluster" of mutually rThe Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceange, or only partially implementing some organizational changes, can create significant productivity losses as any benefits of computerization are more than outweighed by negative interactions with existing organizational practices (Brynjolfsson, Renshaw and Van Alstyne, 1997). The need for "all or The Catalytic Computer Information Technology, Enterprise Transformation and Business Performance nothing" changes between complementary systems was part of the logic behind the organizational reengineering wave of the 1990s and the slogan "Don’tThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
Automate, Obliterate" (Hammer, 1990). it may also explain why many large scale IT projects fail (Kemerer and Sosa, 1991), while successful firms earn The Catalytic Computer:Information Technology, Enterprise Transformation and Business PerformanceErik Brynjolfsson and Lorin M. HittAbstractComputeriz The Catalytic Computer Information Technology, Enterprise Transformation and Business Performanceocessing. For example, hierarchical organizational structures can reduce communications costs because they minimize the number of communications links required to connect multiple economic actors, as compared with more decentralized structures (Malone, 1987; Radnor, 1993). Similarly, producing simpl The Catalytic Computer Information Technology, Enterprise Transformation and Business Performancee, standardized products is an efficient way to utilize inflexible, scale-intensive5manufacturing technology. However, as the cost of automated informThe Catalytic Computer Information Technology, Enterprise Transformation and Business Performance
ation processing has fallen by over 99.9% since the 1960s, it is unlikely that the work practices of the previous era will also the same ones that besGọi ngay
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