Approaches and Processes for Managing the Economics of Information Systems

Citation

Alireza Isfandyari-Moghaddam (2015), "Approaches and Processes for Managing the Economics of Information Systems", The Electronic Library, Vol. 33 No. 2, pp. 325-326. https://doi.org/10.1108/EL-03-2014-0047

By highlighting that the exponential technological evolution of the past, and the structural change in Information Technology/Information Systems (IT/IS), products and services, have led to a fundamental change of market structure, and that free distribution of information, Internet convenience and market choices boost business to invest in information systems and Internet applications (p. xvii), this collected volume shows how the importance and value of IT/IS can be economically measured from an information economics perspective. In five foundational sections, it consists of 22 chapters contributed by 40 authors. Section 1, Economics of Information and Systems (chapters 1-3), is structured around the concept of the “information society”, in which information is highly valued from different aspects including economically, and information-related activities are common, and information management tools are increasingly utilised. Accordingly, Section 1 deals mainly with some informative issues like the origins of the information economy, information as an economic good, the types of cost terminology and how information can be effectively stored and managed. Section 2, Business Value of IT/IS (Chapters 4-8), examines theoretical and empirical evidence on the business valuation of IS, IT, ICT, technology-based companies, and the mobile telecommunications industry to help individuals and organisations or firms evaluate their project success, leverage advantages and justify future investments. Section 3, Information Security Economics and Consulting (Chapters 9-14), covers different topics directly or indirectly concerning the economics of information security, including cost-effectiveness of security measures, cost-benefit analysis of information security investments, the relationships between unethical behaviours from the viewpoint of information security and organisational commitment, IS and IT outsourcing, and IT auditing. In line with moving strategically towards better efficiency, control, effectiveness and sustainable competitive advantage during scheduled times, Section 4, Strategic Information Systems (Chapters 15-18), takes a knowledge management-oriented, strategic and evaluative approach and examines information systems change management, the fit of knowledge management strategy and strategic IT management, the techniques of strategic information systems planning (SISP), and the quality of information produced by the crowd on Yahoo! Answers. And finally, Section 5, Information Systems Change Management and Public Policy (Chapters 19-22), provides readers with some properties or implications of modern information and communication technologies (ICTs), such as knowledge-based economic growth influenced by the social context of IT, innovation and productivity and e-banking. This book has all the structural parts needed to help the audience understand the context and the topic. These are “article-like chapters” with indicative abstracts, well-formed body, references, key terms and definitions, endnotes, a list of references and an index. Together, it provides the leading-edge approaches and applications of IT/IS in economics, presents key value drivers as well as important implications for theory and practice, and with its rich terminology and abundant related resources contributes to the literacy of IS economics. In addition to academics in the fields of Library and Information Science, Computer Science, Management and Economics, the professionals of other sectors like industry, government, finance and business and R&D organisations can benefit from this breakthrough volume.