| Wired for Innovation: How Information Technology is Reshaping the Economy |  | Authors: Erik Brynjolfsson, Adam Saunders
Publisher: The MIT Press
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Media: Hardcover
Pages: 128
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Dimensions (in): 8 x 5.5 x 0.8
ISBN: 0262013665
Dewey Decimal Number: 303.4833
EAN: 9780262013666
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Product Description
A wave of business innovation is driving the productivity resurgence in the U.S. economy. In Wired for Innovation, Erik Brynjolfsson and Adam Saunders describe how information technology directly or indirectly created this productivity explosion, reversing decades of slow growth. They argue that the companies with the highest level of returns to their technology investment are doing more than just buying technology; they are inventing new forms of organizational capital to become digital organizations. These innovations include a cluster of organizational and business-process changes, including broader sharing of information, decentralized decision-making, linking pay and promotions to performance, pruning of non-core products and processes, and greater investments in training and education.
Brynjolfsson and Saunders go on to examine the real sources of value in the emerging information economy, including intangible inputs and outputs that have defied traditional metrics. For instance, intangible organizational capital is not directly observable on a balance sheet yet amounts to trillions of dollars of value. Similarly, such nonmarket transactions of information goods as Google searches or views of Wikipedia articles are an increasingly large share of the economy yet virtually invisible in the GDP statistics.
Drawing on work done at the MIT Center for Digital Business and elsewhere, Brynjolfsson and Saunders explain how to better measure the value of technology in the economy. They treat technology as not just another type of ordinary capital investment by also focusing on complementary investments--including process redesign, training, and strategic changes--and ton he value of product quality, timeliness, variety, convenience, and new products.
Innovation continues through booms and busts. This book provides an essential guide for policy makers and economists who need to understand how information technology is transforming the economy and how it will create value in the coming decade.
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| Customer Reviews:
 Fascinating -- shows where the "dark matter" of Productivity comes from November 26, 2009
William Yarberry (kingwood, tx United States)
3 out of 3 found this review helpful
Brynjolfsson and Saunders have written a short, easy to read but cogent explanation of the mysterious productivity increase arising from IT. The book was intended to illuminate strategy and it did just that. They discuss at length how the IT revolution had to be merged with equivalent business processes before the value could be realized. Both IT and procedural changes are necessary. Organizational capital, not shown on the balance sheet, accounts for a great deal of productivity. I particularly liked the "seven pillars of the digital organization." Some firms get extraordinary value out of IT; others, spending just as much money, do not. Another point stressed is that a dollar of IT assets, with appropriate training, support and organizational change, can provide far more value than a dollar spent on plant and equipment. The author's assertions are backed up by copious hard dollar examples as well as references in the literature. If you are a fast reader, you can cover the material in 3-5 hours. This is a real contribution to the IT and business literature. Bill Yarberry, Houston Texas
Wired for Innovation an important read! September 22, 2009
Michael LoBue (San Francisco, CA)
5 out of 6 found this review helpful
Brynjolfsson and Saunders did a masterful job of synthesizing a vast amount of material from a broad range of subject areas to produce a highly readable book on issues central to the economic challenges and opportunities that lie ahead.
Unlike so many business books today, the authors are not trying to pass along advice, which is refreshing. Rather, they provide a framework for understanding why productivity is vital and how information technology has contributed to innovation that drives productivity. This is one of those books worth tossing in the brief case as a travel companion on the next business trip.
 Wired for Innovation May 28, 2010
Youkung Lim
1 out of 1 found this review helpful
Even though this book is pretty short (129 pages), it covers many interesting materials. There are eight chapters, and basically it shows the relationship between technology and economy. How economy had been affected by technology, and what the consequences are. This book is recommendable especially to business majors. I hope have fun with this book
 Wired for Innovation is more wired for academics and not innovation January 31, 2010
M. McDonald (Chicago, IL United States)
Erik Brynjolfsson and Adam Saunders tackle the issue of information technology's impact on the economy in this book. The book's title is misleading, as this book is NOT about innovation, so people looking to read up on the subject should give this book a pass. Instead this book is intended to "provide a guide for policy makers and economics who want to understand how information technology is transforming the economy ..." page 11.
Information and IT in the economy is a complex and difficult subject and the authors provide a comprehensive view of the issue and where it stands from the perspective of academic research. This book is a good at covering the history of academic research on the topics of IT's contribution to the economy, measuring information in the economy, organizational capital and the like.
Recommended for readers who are comfortable reading academic research on macroeconomics, as I believe this is the intended audience. The 128 pages are well written and I was able to read the book on two short haul airline flights. As a book looking to straddle the economic and business world, the authors do a good job. The book centers on a `study of studies' than offering a new hypothesis and supporting research.
As a study of studies, the book seems comprehensive and does a good job of bringing in a range of research publications. There are a few things missing, for example David Teece's work on Dynamic Capabilities. One weakeness is that the book relies on 16 articles authored by Erik Brynjolfsson, by far the most commonly cited author.
As a business or strategy book, Wired for Innovation has some significant shortcomings. First the title is misleading; the book does not talk about innovation and cannot be recommended as an innovation book. The book is concerned with macro economic issues such as measuring IT, information and intangible goods in calculating GDP rather than focusing on individual firms. This requires the reader look hard between the lines to begin to draw information and ideas that would be applicable to any one company.
The book does contain some thought provoking data and the description of economic issues is clear, but I found myself glad I had a background in economics while reading the book. Non-economists will get value from the book, but they will often have to step back and translate the author's intend into their experience and knowledge to have it make sense.
In the end this is a good book that bridges the academic and macro business community. There are other policy oriented books that offer more insight and impact such as Zitrain's "The Future of the Internet and How to Stop It" or Beckler's "The Wealth of Networks"
Four stars as an academic/economic book, three stars as a business oriented book and three stars overall. I am glad I read the book and I have many notes in the margin, but that is more from taking an economic outlook rather than one as a business executive looking to understand the role and value of information and IT in their firm and the economy.
 Nice to Know but Impractical October 22, 2009
Randy Langel
2 out of 9 found this review helpful
This book is written very much like a college thesis e.g., "...Smith and Jones (2004) concluded that...," or "...developed by Smith and Jones (2003)," however, this technique was used so much it become a distraction. Also, many of the references he makes to justify his thoughts are actually references to himself. This book states the obvious and provides no practical strategies or methods to measure intangibles - which it started out to do. The information is nice to know but not useful in the practical world.
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