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Customer Reviews
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2 of 2 people found the following review helpful.
By A customer
I have never considered myself an information "technocrat", but I realize that technology, or more accurately, the effective use of technology is critical to success in business. Books written on technology usually intimidate me with technical details that might as well be written in a foreign language. So, when Don Tapscott's book, The Digital Economy, was recommended to me, I purchased the book thinking it would not hold my interest for more than two chapters. Instead, I was pleasantly surprised by a book that grabbed my attention and would not let go. With a balance of case studies, statistical information, and his own model of the new digital economy, Mr. Tapscott wrote a book that describes the opportunities and pitfalls of the new networked economy. For business leaders grappling with the globally networked economy, this book helps put it all in perspective.As a sequel to his earlier bestseller, Paradigm Shift, Mr. Tapscott takes a strategic look at the technological advances society is making, focusing on how they change the way we interact, communicate, conduct business transactions, learn and play. Mr. Tapscott explains that we are on the brink of a revolution as networked intelligence, coupled with human intelligence, create new economic and societal possibilities. Like the agricultural and industrial age before it, the digital revolution will change the rules of business and the structures that support human interactions. Speed of innovation and flexibility on a grand scale will become critical to success in a digital economy. Product life cycles will be measured in weeks or days, and disintermediation will be a continuing trend that could lead to systemic unemployment. Through this revolutionary period, there will be a blurring of the line between producers and consumers. Tapscott coins the term "prosumers" to describe how we will interact with technology.With the requirements for success changing, the current best business practices such as Total Quality Management (TQM) and Business Process Reengineering (BPR) will not be enough to ensure survival in the future. Theses efforts focus on improving current business processes rather than inventing new processes, markets, and products. Tapscott urges his readers to focus on ways to add value in a new and rapidly changing economy. Because the digital economy makes information inexpensive, Tapscott speaks of the movement from an economy based on mass production to an economy based on mass customization. Already, Levi's will "build" you a customized pair of jeans. Those who success in this new digital economy must be willing to challenge their own thinking, make their own products obsolete, and continuously look for ways to add value to those they serve.Mr. Tapscott took great care to provide a balanced view of the networked revolution. As digital interchange allows people separated by great distances to share creative ideas, it also increases the risk of individuals becoming isolated. At the same time, we risk losing our privacy as personal information can be extracted from multiple sources. Tapscott speaks of the swift punishment corporations and individuals who do not "keep up with technology" can expect and of the societal risk we all encounter when we consider the possibility of a bipolar society based on technology "haves" and "have nots". Reminding us of our responsibility to each other and to society as a whole, Tapscott challenges us to make the most of the possibilities while remaining cognizant of all the risks.
2 of 2 people found the following review helpful.
By BookMaven
I am a university lecturer (retired). This textbook has been seminal in my delivery of an Honours final year module at a modern British University. Students have uniformly said the text "opened their eyes" and helped them "make sense of the world they are in" and understand "the changes taking place around them". This book is a look, a great sweep of a look, at the digital vista in Don Tapscott's mind's eye.Don Tapscott's 12 themes pick out the major changes in the Digital Economy. These are Knowledge, Digitisation, Virtualisation, Molecularisation, Integration/Internetworking, Disintermediation, Convergence, Innovation, Prosumption, Immediacy, Globalisation and Discordance. Yet 12 years on from the book's first publication date in 1995, these themes are ever new.The convergence of computing, communication and content has created a new world. The digital computer communication system we call The Internet and the new industries, like Google, that publish and search the content therein - all are part of the world we are in. This is the world we are living in and we need to understand what is happening around us.Over seven years I have used this book and cannot recommend it highly enough. It leads directly to a study of many dichotomies in the modern world. Examples are Proprietary Software v Open Source products, Copyright v Creative Commons, Predictable Behaviour v Intriguing Behaviour, Business Models based on physical assets v Business Models based on intangible assets, top down control v bottom up change - and so much more. Perhaps a dichotomy is lacking - one that looks at Conformity v Creativity. For without Creativity no new thing will come into being, and with too much Conformity we will create a sterile, bland and disenchanted world - a McWorld perhaps. Following Dee Hock, "chaordic phenomena" are here to stay.In my view this book captures the essence of the changes we are seeing around us each day as the Digital Economy takes us in the knowledge era. In this era the ability to learn, to be creative and to collaborate are the keys to the innovative enterprise that will give rise to the new emerging industries we need.Furthermore, we need these new kinds of industries to safe guard jobs and the nation states in the West. The book represents a challenge to all my ex-students on the Multimedia, Technology and Design degree: go create your future!
1 of 1 people found the following review helpful.
By A customer
Don Tapscott's "The Digital Economy" is a wish list. In fact, it's everybody's wish list. Tapscott vision of the future is not too far from an episode of Star Trek. However, he failed to mention one major requirement for this Digital Economy to happen and that is the issue of bandwidth. For simple concepts such as video conferencing to happen in a practical sense, you'd need bandwidth. It may be practical in a local network for video conferencing to span across the globe, we're talking very fat pipes to carry to carry all that video information and I do not see that happening for awhile. Maybe in 10 years. Generally, this book is oversimplified and by and large, a written reinforcement of current beliefs and thinking. ("The new economy is a knowledge economy" he writes. Anyone who does not already know that, raise your hand!) Tapscott's concepts and vision are idealistic, to say the least. Perhaps even naive. He does not address many issues that currently plague most developing countries such as infrastructure, bandwidth, politics, and the culture. It is almost like his idea of a global digital economy is the US digital economy with no concerns of whether other countries would want to participate in it. Contrary to those who say that this book has very little techno-jargon, I beg to differ. There aren't many useful technical jargon but there are enough "technical" words in the book for those who are not Net-savvy to think that this is a technical book and heaven forbid, should they use this as a reference. (eg. HTML, "hotlinks.") Take, for example, the "Highway Analogy Madness" (p.23) I find that grossly unnecessary. It is a list of unheard-of or hardly used terms. It's neither informative nor is it entertaining. And my major gripe on his introduction of terms: Do we need another term to describe the Net. Just when you thought you've heard the last of the "Information Superhighway," Tapscott gives us a new one: I-Way (as in Information highway.) Having said all that, this book should be good reading for those who want a swift kick from the reality of the future. It's written like a brochure. And like a brochure, don't believe everything you read.
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