Intellectual Capital/Stewart 21-25

23 Information technology speeds up activities…such as
Mining valuable detail
Running simulations
Making a business out of knowledge itself

24…found that a dollar spent on R&D returned eight times more than a dollar spent on new machinery. A new machine helps you do old work better; it delivers incremental improvement. R&D leads to innovation—whole new products and services that presumably are of a higher value that the ones they replace.

One of the information’s most powerful advantages is its ability to wipe out inventory.

25…Japanese automobile industry clobbered Detroit. Lacking both money and space, the Japanese turned away from capital-intensive, U.S.-style automaking ad invented an information-intensive industry. (JIT)