A monolithic, highly interdependent organization can become a modular one by turning traditional business processes whether financial, legal, or HR-related into microservices with application programming interfaces. APIs can help codify interactions among departments, reduce ad hoc communication, and minimize coordination complexity.

A few Chinese companies recently have challenged the R&D strategies of foreign companies and offered lessons on how to make ideas commercially viable. But another, less obvious force to be reckoned with in China are the thousands of innovative companies that are quietly disrupting numerous industries and developing new products and new business models.