Anyone who studies how technology affects productivity will quickly learn that there is always such a lag.
The world has enjoyed a tremendous run of innovation, technology, productivity, prosperity and profits during the last quarter-century.
Anyone who studies the ways in which technology gooses productivity will quickly learn that there's always such a lag.
While oil and metals prices can carry an economy for a little while, sustained growth invariably comes down to structural improvements in technology and productivity, asserts van Ark.
There is always a lag before new technology lifts productivity growth, because it takes time for firms to reorganise their business to take advantage of new ways of doing things.
Let's innovate around marketing and technology and productivity.
The farmers' system and philosophy, he insists, have condemned them to go forth and multiply, peopling the earth and expanding their domain to the detriment of hunter-gatherers, whose philosophy, based on respect for nature and for the equality and freedom of each individual, including children, was no match for the rapacity, technology and productivity of the newcomers.
Thanks to technology-led productivity, the U.S. economy is roaring with little sign of inflation.
At the enterprise level, the private sector is deploying technology to boost productivity and efficiency.
FORBES: When Tradition Meets GPS-Enabled Rickshaws And Biometric Scans
By applying the finer 20-nm-class process technology, the productivity of the chips is raised over 30 percent.
ENGADGET: Samsung announces 32GB microSD card capable of 12MBps write speeds
As public debt climbed toward 90%, the forces of economic sclerosis would have overtaken the technology-driven productivity boom.
Mr. McTeer does not believe that rapid growth based on new technology, rising productivity, and other supply-side factors is inflationary, especially in the current global environment.
Sounds like a virtuous cycle: Technology leads to productivity, leads to low prices, leads to disinflation, leads to booming capital markets, leads to more funded technology.
In addition, technology and other productivity improvements have helped boost per-employee sales and profits in recent years, which could reduce the urgency for some companies to hire.
FORBES: Private companies' current business trends still positive
It has happened because rich-world companies have replaced workers with new technology to boost productivity and shifted production from labour-intensive products such as textiles to higher-tech, higher value-added, sectors such as pharmaceuticals.
And while the jury remains out on the question of whether recent quantum leaps in information technology have boosted productivity or not, particularly in America, producers have moved on to think about where their next boost is going to come from.
These days, we tend to evaluate technology by asking about productivity or consumption.
FORBES: Technology's Domestic Origins. Plus: 4 Great Kitchen Gadgets Without Touchscreens
The HR business executive is increasingly responsible for the technology to improve workforce productivity in addition to hiring, training, and compensation management.
With voice integration and voice-to-text functionality, the technology holds promise for productivity boosts in areas like sales, support and many administrative functions.
Everyone acknowledges that high technology is immensely expanding productivity, but bean counters haven't figured out in this service-cum-high-tech economy how to measure that.
Without technology to boost their productivity, small businesses could not run their business effectively, let alone compete with larger companies in their markets.
FORBES: Revolution: A New Era In Software For Small Businesses
Another aspect of training is not just knowing how to use the technology, but to master the technology and find the hidden gems and higher level productivity tools to move from "functionally literate", to knowing the technology so well it's a natural extension of your day-to-day productivity.
Today high technology is expanding opportunity and productivity on a scale exceeding that of the 1920s.
Bridgestone said its profits were also lifted by "improving manufacturing productivity, enhancing technology and effectively utilising our management resources".
And lastly, with consumerization of IT, CIOs can empower all users to innovate with new collaboration models and use cases to gain higher productivity from their technology.
The most fundamental one remains the Baumol effect: labour-intensive services, such as nursing and teaching, have thus far proved as immune to productivity-enhancing technology as string quartets.
"If you think about almost any dimension of human activity, it will ultimately be touched by this ability to harness computational power, " says Dan Sichel, a Wellesley College professor who argues the official productivity numbers understate technology's impact.
Consequently, as we look at companies today with a lot of cash on their balance sheets, but a lot of uncertainty in the macro environment, technology is actually a very interesting place for companies to make capital investments today, because technology investments tend to be productivity enhancing and not capacity enhancing.
The good news is that companies still have plenty of scope to boost productivity by reorganising their businesses to use information technology more efficiently, which could yet boost growth in total factor productivity.
应用推荐