Publication Type

Journal Article

Publication Date

8-2017

Abstract

The world economy is undergoing dramatic changes, largely driven by the new availability of fine-grained information. Innovative ways of using data—large and small—have also prompted a rethinking of the boundaries for the combination and use of knowledge. The strategic design of information flows in the economy has the upside of higher economic rents and competitive advantage, as well as the downsides of wealth inequality and abuse of power. This has brought a wide range of regulatory challenges. To understand the nature of these sweeping changes, it is important to examine the new ways information is used, and how information flows can be leveraged to create competitive advantage and dampen competition. The analysis in this article examines four economic entities that produce and consume value, as well as three determinants for the modes of their operations. The economic entities include consumers, producers, markets, and society, whose interactions are determined by viability, networks, and agency. In this framework, we paint a picture of the transformation of information-based strategy in the future and suggest promising research opportunities.

Keywords

consumers, economic theory, hyperdifferentiation, information flows, information politics, information strategy, intelligent assets, markets, producers, society transformation

Discipline

Databases and Information Systems | Management Information Systems

Research Areas

Data Management and Analytics

Publication

Journal of Management Information Systems

Volume

32

Issue

2

First Page

425

Last Page

456

ISSN

0742-1222

Identifier

10.1080/07421222.2017.1334474

Publisher

Taylor & Francis (Routledge): SSH Titles

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org/10.1080/07421222.2017.1334474

Share

COinS