in physical capital in the form of new plant, machinery, vehicles and buildings
can help a company to reduce costs and produce better products or services that
its customers value more highly. Costs can be reduced through faster production
runs and better organisation of production. New equipment and other assets may
help the company to meet better the needs of current and new customers and to
move into higher value added activities.
helps ensure that business has the latest available
technology and spreads technological innovations
throughout the economy as a whole
· Information and communication technology
- ICT allows firms to transform the way they do business,
creating new markets and changing the dynamics of the
old. Uptake and use of IT have been considered as
separate indicators in this edition.
Last updated on 20 November 2003