Measuring and Sustaining the New Economy Report of a Workshop (2002) / Chapter Skim
Currently Skimming:
Panel V: Roundtable Discussion
Panel V: Roundtable Discussion
Pages 124-134
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 124... ...
For example, when expenses that are investments in new business processes are listed as G&A, the distortion confuses both investors and policy makers. He suggested that some of the major questions raised during the symposium could be answered if the historical record contained appropriate accounting procedures.
|
From page 125... ...
Establishing effective standards for a more tightly coupled environment requires some understanding of who the referee is, and one cannot have tight standards without a referee. In closing, he returned to the issue of measurement and how investments in business processes are reported in the accounts of companies.
|
From page 126... ...
He concluded by suggesting that one of the great unrealized possibilities for the New Economy is to find useful drivers for areas where normal business motivations do not apply.
|
From page 127... ...
and that his usual response is that he doesn't know, because it is so difficult to separate Internet effects from other effects. The department measures information technology, he said, but the workshop participants had agreed that technology accounts for only a part of the total economic effect.
|
From page 128... ...
Packaged software is more easily measured, both in terms of nominal value and price but may not be as important to productivity. He said the department has made advances in measuring real output of semiconductors, computers, and telecommunication equipment, but has had less success in measuring the output of information-technology-intensive activities, such as business services, education, and financial services.
|
From page 129... ...
The convergence of HTML, HTTP, and TCP/IP created an infrastructure that "allowed interesting things to happen." Looking ahead, certain infrastructure issues in the United States are worrisome, especially in regard to the wireless infrastructure. He said that the projects at the leading edge of wireless mobile technology are being done in places like Helsinki, Tokyo, and Tel Aviv.
|
From page 130... ...
In Europe and Japan, landlines are metered. There was no economic incentive to use wireless links for Internet access or routine telephony in the United States, where the marginal cost of such usage is essentially free.
|
From page 131... ...
He referred to the prediction that information technology promises dramatic improvement in drug discovery for the pharmaceutical industry. "What does the realization of this potential require within the industry?
|
From page 132... ...
If CEOs do not find new applications useful, he asked, would they continue to make these information technology investments at the same level? Ideally there is some alignment between the trajectory of R&D investments and their usefulness in business applications.
|
From page 133... ...
"It is an important topic," he concluded, "and I look forward to additional workshops where we can explore in greater depth some of the major themes we discussed today."
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.