Why is all this important?

If we can build computer systems that manage information in the same way as humans then there will be significant benefits:

Users will be able to more easily relate to the system, be more involved, better able to understand the functionality, and thereby ensure that their requirements are being met.
When there is a change in the real world, then there should be a very close correlation between the new requirements and the part of the computer system that handles those requirements. Changes should not only be quicker but there should be less risk of propagating errors.
By using pre-existing objects or components, which have known behaviour and are already proven, then we can accelerate the construction time and build a quality system. In essence, we move from a craft industry to an engineering discipline.
Where these components concern another company in the value chain, perhaps a supplier or distributor, then it's possible for these companies to work collaboratively, efficiently and responsively, or even competitively, by connecting their computer systems together. This then is the Virtual Organisation.

Note that many people are now using the word Component. Whilst there are many definitions of what constitutes a component, this author considers them as higher order objects. Component will relate closely to business objects (e.g. a policy), to business processes and activities (underwrite a policy). For a discussion see Component Based Development.

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