Strategy and the New Economics of Information

This article from Harvard Business Review traces the shift in the economics of information. Over the past decade, managers had to adapt their operating processes to new information technologies - but now, they must rethink the strategic fundamentals of their business, say authors Philip B. Evans and Thomas S. Wurster of the Boston Consulting Group. Starting with the example of the near-demise of Encyclopędia Brittanica, they explain why every business, not just information businesses, must pay attention to, and respond to, shifts in the economics of information. This article originally appeared in print in the September-October 1997 Harvard Business Review and is now available in audio format exclusively through Audible.