Wired for Innovation: How Information Technology Is Reshaping the Economy by Erik Brynjolfsson & Adam Saunders

Author:Erik Brynjolfsson & Adam Saunders
Language: eng
Format: mobi
Tags: E-Commerce, Information Management, Business & Economics, General
ISBN: 9780262258074
Publisher: MIT Press
Published: 2009-09-11T01:03:48.625026+00:00

The definition and measurement of organizational capital is an emerging research area within economics. Organizational capital can include such practices as the allocation of decision rights, the design of incentive systems, cumulative investments in training and skill developments, and even supplier and customer networks. Although gross domestic product measures the production of innovative products, such as a new generation of mobile phones, GDP does not directly measure the creation of innovative businesses processes. We believe that organizational capital encompasses the changes wrought by these innovative business processes. At this point, although there is no consensus on how to define organizational capital, there are two good surveys of the nascent literature. One is by Black and Lynch (2005), who propose a definition of organizational capital that comprises three components: workforce training, employee voice, and work design. The other is by Ichniowski and Shaw (2003), who review several studies documenting innovative work practices and then describe their preferred research approach to measuring organizational capital: the "insider econometrics" approach. In this approach, the researcher identifies a narrow production process and conducts field research to understand this process thoroughly. Then the researcher gathers data from sites where this process has been used over a number of years and performs a wider econometric analysis. Bartel, Ichniowski, and Shaw (2007) used the latter method.

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