What are some ways that the Internet is changing the way companies do business?
What will be an ideal response?
Varies, and do not need to be from the reading necessarily, but may include: The Internet, as it continues to develop, has certainly changed the ways that people live and work. At the same time, mass collaboration through file sharing, blogs, and social-networking services is making leaps in creativity possible, and it is changing the ways companies in a variety of industries do business (Wheeler, 2014; Wingfield, 2016). Here are some examples.
Research and Development. Procter & Gamble makes use of outside scientific networks to generate 35% of new products from outside the company, up from 20% 3 years ago. That has helped boost sales per R&D person by 40%.
Software Development. By coordinating their efforts online, programmers worldwide volunteer on more than 180,000 open-source projects, such as Linux, thereby challenging traditional software.
Telecommunications. More than 500 million people use Skype software to share computer-processing power and bandwidth, allowing them to call each other for free over the Internet. That has cut revenues sharply at traditional telecom providers.
Retail. Amazon, the world’s largest online retailer, with $136 billion in 2016 sales, has created a sustainable alternative to retail stores. More broadly, cross-border e-commerce is projected to grow to $627 billion by 2022 (Garcia, 2017).
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