Google’s chief economist says executives in wired organizations need a sharper understanding of how technology empowers innovation.
“What is it that’s really scarce in the Internet economy?” And the answer is attention. [Psychologist] Herb Simon recognized this many years ago. He said, “A wealth of information creates a poverty of attention.”
Interview transcript and video published in the McKinsey Quarterly
http://www.mckinseyquarterly.com/Strategy/Innovation/Hal_Varian_on_how_the_Web_challenges_managers_2286
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The order
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It's tempting to decide to make a profit first, then invest in training,
people, facilities, promotion, customer service and most of all, doing
important w...
