Wikinomics Summary

Wikinomics Summary

How Mass Collaboration Changes Everything

We live in a world which transforms rapidly. The digital age creates many new circumstances for all of us. It poses new opportunities, new constraints. So what has changed? And how do those changes affect you and the age of Wikinomics? Our “Wikinomics Summary” explores these questions and many more.

Now, let’s dive right into it.

Who Should Read “Wikinomics”? and Why?

It is relatively challenging to specify a group of readers to whom this book would be intended. Magnificent piece of work written for HR Managers, Scientists, Futurologists, and Experts who wish to expand their views and get a broader perspective of where this digital age is going.

Students known for their thirst for new knowledge would find Don Tapscott and Anthony D. Williams’s work as one of the most extraordinary and exceptional business guides they have ever read. Known for its first-person examples and high-quality tips “Wikinomics” is no wonder an all-around book that can answer any business related question.

Next, before we thoroughly examine the book’s content, we’ll cover the authors’ bio and their expertise.

About Don Tapscott and Anthony Williams

Don Tapscott

Don Tapscott was born on July 1, 1947, in Toronto, Canada. He is an author, consultant, business innovator and executive that is focusing on combining different business strategies that would generate an organizational transformation in the society. As a founder of New Paradigm, that is currently owned by NGenera,  and as a CEO of the Tapscott Grouping,  Don Tapscott encourages companies to overcome organizational boundaries by associating with the latest technologies.

Anthony Williams

Anthony D. Williams is a Canadian Born author, a senior fellow at the Lisbon Council, founder of the Anthony Williams Consulting in Toronto and a strategic adviser to different governments, global institutions, and other Fortune companies. He was born in 1974 in Toronto, Canada. Anthony Williams and Don Tapscott as co-authors of Wikinomics are repeatedly dismissing any criticisms based on their book without answering any of the critics.

Okay, now that we covered the basics, let’s continue with the detailed summary.

“Wikinomics Summary”

Don Tapscott and Anthony D. Williams through their Wikinomics book try to intrigue readers in numerous ways. The book examines all possibilities of massive data sharing and participating in open-source software that is available to all business participants, consultants, and experts.

Back in the old days, sharing and delivering an information required a lot of effort, now all you need is a computer with unlimited access to all sorts of free encyclopedia sites. So to speak every user is familiar with the fact that the digital era contributes to a new highly educated population.

Now, what can you expect while reading the book?

Well, some of the examples that you may run into while reading Wikinomics would probably sound familiar, while others may seem a little surprising and maybe even shocking. These authors are so intently a part of the new era that makes them feel obsessed with knowledge -seekers – for instance,  sometimes specific actions or changes that are done by few enthusiasts seem like some internet transformation procedure.

However, for the majority of times, these enthusiasts fail to provide the precise definition or supporting and digital data.

Wikinomics wants to inspire readers to adjust their way of thinking to the new dynamic and digital age, by becoming critical decision makers, educated and proficient in the business sphere in almost any industry.

Here’s the thing:

The end reader would feel like he is reading some business guidebook, changing its point of view from time to time and for the majority of times, it would sound like a proclamation of ideas and concepts, valuable to the business community.

The world would continue to change and evolve. Therefore mass collaboration process would represent a vital factor in those changes. The new era would be built on openness, globalization and business integration. Organizing data would become much easier as finding data and sharing it would be a relatively easy process to conduct that can lead to minimizing organization boundaries that we’ve faced earlier.

A few broad key lessons can be extracted from the book’s content. Which are they?

Read on!

Key Lessons from “Wikinomics”

  1.      Understand Wikinomics
  2.      Four Basic Principles of Wikinomics
  3.      Ideagoras and their meaning

Understand Wikinomics

“Wikinomics” is the single letter word combined with two terms: “wiki” (that represents something being done quickly and fast) and “economics,” as such Wikinomics represent a term of quick interaction. These interactions are made possible by the digital opportunities that we’re able to take advantage of in today’s society. “Old-fashioned ” traditional businesses still maintain and keep unnecessary and evident boundaries.

These organizational barriers are backed up with a tightly controlled economic captivity of limited information that flows in and out. If you as a company implement Anthony Williams and Don Tapscott’s principles and norms, all shareholders will notice an instant “freedom” change, that would indicate long-term success.

Four Basic Principles of Wikinomics

The four primary principles that forge Wikinomics are: “Open communication, peering, sharing of information and globalization.” Openness or Open Communication refers to inciting open-society mentality with freedom of speech in a transparent, clear and concise way in favor of eliminating any organization boundaries that may occur among the shareholders.

Sharing of Information as the names tell us indicates an easy, fast and limitless way of accessing all sorts of data. “Peering” is an integral part of open society. It illustrates business and organizational interactions among the employees to be held collaboratively, not hierarchically.

Globalization makes us aware of the fact that overseas competition and partnerships are going to occur as soon as any company decides to infiltrate its product to the global market.

Ideagoras and their meaning

In ancient times, people used to meet in places called agoras (today’s marketplace), where philosophers gathered and taught the people on different subjects. Today’s online world shares the same idea as Ideagoras back then, Modern Ideagora represents something similar to a virtual “marketplace of ideas, financial solutions and concepts.

The Modern Ideagora concept is still in the process of development, yet solid and visible examples are present in every corner. As an example we would take the case where: Approximately 100,000 Scientists from 175 countries are assembled in one InnoCentive Service where they can share ideas, information, data and ask questions.

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“Wikinomics” Quotes

“Peering succeeds because it leverages self-organization—a style of production that works more effectively than hierarchical management for certain tasks.” Click To Tweet Increasingly, we are all wittingly and unwittingly co-conspirators in building one massively sophisticated computer. Click To Tweet All one needs is a computer, a network connection, and a bright spark of initiative and creativity to join the economy. Click To Tweet The new web is about verbs not nouns Click To Tweet

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Our Critical Review

In “Wikinomics” the authors try to illustrate their narrative by presenting examples of companies and projects that have succeeded by using group collaboration. Although various examples are cited, which are credible and serve their purpose, the authors use an authoritative tone to present them, which may put some readers off.

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