Wikinomics

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Book: Wikinomics. Author::Don Tapscott, Author::Anthony D. Williams. Penguin, published::2007

URL::http://www.wikinomics.com/

Book about the Co-Creation economy and the competitive advantage of participatory strategies for companies.

Review at http://books.slashdot.org/article.pl?sid=07/01/03/1511214

Description

"WIKINOMICS explains how winning companies innovate and succeed in the emerging Age of Collaboration.

The knowledge, resou[rces, and computing power of billions of people are self-organizing into a massive collective force. Interconnected and orchestrated through blogs, Wikis, chat rooms, peer-to-peer networks, and personal broadcasting, the Web is being reinvented to provide the first global platform for collaboration. Millions of people -- consumers, employees, suppliers, business partners, and even competitors -- now harness technology to innovate and collaborate like never before.

In the world of WIKINOMICS, the choices for collaboration are endless. You can build your own business on Amazon; produce a television news clip for Current TV; create a community around your photo collection on Flickr; or edit the astronomy entry on Wikipedia. You can plug into InnoCentive and join Procter and Gamble's virtual R&D department; remix the Nine Inch Nails rock album; or co-design the interactive features for your next BMW.

This new Web links over a billion people directly, and (unlike Web 1.0) it now reaches out to the physical world, connecting trillions of objects from hotel doors to cars. It is beginning to deliver dynamic new services - from free long distance video-telephony to remote brain surgery.

With vivid and engaging examples, WIKINOMICS explains the deep changes in technology, demographics, and business that will allow people to participate in the economy like never before. This new participation - "peer production" - is changing how goods and services are invented, produced, marketed, and distributed on a global basis. It presents far-reaching opportunities for every company and, most of all, for you." (http://www.wikinomics.com/)


Review

1.

"If it is good enough for the most competitive global businesses then it should be good enough for local, national, and international development.

The recent, best selling book "Wikinomics - How Mass Collaboration Changes Everything," by Tapscott and Williams clearly demonstrates how the most competitive companies in the harshest marketplaces are using participatory processes to make a lot more money. The new technologies enable and support them to do that, of course. But what is most interesting is how these companies - from mining and exploration to service delivery - have harnessed those technologies to improve their effectiveness and efficiency through participatory communication processes. And they have only just begun. This is the trend. So, when someone says to you that a participatory approach is neither efficient nor effective, you can read and quote this book and respectively suggest that they also ride this important wave. Or risk getting dumped in the churning waters." (http://www.comminit.com/drum_beat_400.html)


2. Tim Rayner:

"Wikinomics, which I read in early 2008, was a revelation for me. It helped me connect the theoretical research I’d been doing on web-enabled social movements to the emerging reality of Web 2.0 innovation and commerce – the work of ‘wikinomics’. It dawned on me, at this point, that the social transformations I’d been charting in the political realm were just an aspect of a broader and more complex set of developments. I started paying serious attention to social media, which was clearly instrumental to these developments, and refocussed my thinking about how new forms of online collaboration and co-creation were changing us on a cultural level, in terms of our imagination of social life and our willingness to experiment with new social forms.

It was around this time that I started working with Simon Robson on Coalition of the Willing. The social change network that we map out in that film was directly inspired by Wikinomics. The rallying cry that animated our polemic combined the political focus of my earlier academic work with new insights into how Web 2.0 was transforming culture and economics: ‘Let’s take our lead from Web 2.0 and the strategies of open source culture. It’s time to recover the true spirit of the 60s counterculture, with an internet-based swarm offensive aimed at triggering a 21st century culture shift’." (http://philosophyforchange.wordpress.com/2012/11/07/five-books-that-shaped-my-thinking/)

Authors

Don Tapscott, one of the world's leading authorities on business strategy, is Chief Executive of international think tank New Paradigm, which focuses on new business designs in performance, effectiveness and competitiveness. Tapscott is the author of ten widely read books about information technology in business and society, including Paradigm Shift, Growing Up Digital and The Naked Corporation. He is also adjunct professor of management at the Joseph L. Rotman School of Management, University of Toronto. Anthony D. Williams is a Research Director at New Paradigm and the author of numerous influential reports, most recently for a $5 million multi-client investigation on IT and competitive advantage. He teaches at the London School of Economics." (http://www.wikinomics.com/)


More Information

  1. Critical review by Christian Fuchs at http://ijoc.org/ojs/index.php/ijoc/article/view/250/125
  2. The above critical review also has a summary table of seven Wikinomics Business Models


Watch:

  1. Don Tapscott on Crowdsourcing
  2. Don Tapscott on Wikinomics