3rd e-Business Meeting
e-Business Meeting Debates the Strategic Value of Technology

Do communication and information technologies automatically lead to economic growth, or is this a phenomena of the past? The 3rd e-Business Meeting, organized by the PwC&IESE e-Business Center at IESE’s Madrid campus on March 4, debated this important question.

Responding to the topic, “Information, Technology and Value: In Search of the Virtuous Circle,” the guest speakers analyzed the strategic value of CITs in companies. They concluded that, yes, technologies are still important, but even more important is how they are put to use. If they are used wisely, businesses will create competitive advantage that will differentiate them from their competitors.

“What is really interesting is the convergence between technology, business and people,” said Peter Cochrane, founder of ConceptLabs. The virtuous circle – using information and technology to create value – is only possible if CITs are applied within a company from a global perspective that includes all the different agents and business processes involved. Making the most of CITs requires a change of mentality among the business community and a re-engineering of business processes.

Professor Erik Brynjolfsson of MIT agreed. He used statistics to show that CITs in isolation do not act as a motor for productivity. Only businesses that combine investment in CITs with investment in organizational capital (which will guarantee the success of re-engineering processes) achieve higher productivity.