Companies create real wealth when they combine technology with new ways of doing business.”
The internet and related technologies provide companies with various ways to work outside their boundaries. They are now able to involve customers, suppliers, small specialist businesses, and independent contractors in the creation of new products. These options assist in providing insight that helps in product development while the company still controls the innovation process.
Information goods such as software and editorial content is another form of technology to help e-businesses. The Linux operating system, for example, was developed over the Internet by a network of specialists. But companies can also create physical goods in this way. Loncin, a leading Chinese motorcycle manufacturer, sets broad specifications for products and then lets its suppliers work with one another to design the components, make sure everything fits together, and reduce costs.