"RFID: Radio-frequency Identification." If the 'Sixties classic film The Graduate were remade today, that might be the new Big Thing whispered to this generation's Benjamin. While less otherworldly sounding than previous transforming technologies, radio-frequency identification, which tracks goods from every stage of production to consumers' shopping carts, has the potential to rev up the economy — perhaps even more than the Internet or personal computers.

Spending on Basel II IT compliance projects will total $4bn over the next two years, according to a report from analyst firm Datamonitor. 

The report estimates the spending spree will amount to $1.93bn this year and top $2bn in 2005.

What is the New Europe, and how can multinationals reconcile the challenges it presents? The questions are simple enough; the answers are not. The New Europe is a mix of cultures, histories, trends, and economies, of which the European Union (E.U.), newly expanded to 25 countries, constitutes an ever-larger portion. The New Europe is also a highly competitive market that, although still defining itself, offers tremendous revenue potential. This paradox — the conflict between single-market concentration and multimarket fragmentation — presents a management challenge new to the world.

Design-driven cost reduction allows manufacturers to realize savings of 10 to 30 percent for products in development.

Companies waste billions of dollars every year on new product enhancements that consumers do not want, cannot use, or will not pay for. The fact is that most new products, from automobiles to washing machines, are overengineered.