Browse Definitions :
Definition

wikinomics

Wikinomics is a term that describes the effects of extensive collaboration and user-participation on the marketplace and corporate world. Don Tapscott and Anthony D. Williams popularized the term in their book, Wikinomics: How Mass Collaboration Changes Everything , published in December 2006. The word itself is constructed from wiki (a server program that allows users to collaborate on a Web site) and economics.

According to Tapscott and Williams, these four principles are the central concepts of wikinomics in the enterprise:

  • Openness, which includes not only open standards and content but also financial transparency and an open attitude towards external ideas and resources
  • Peering, which replaces hierarchical models with a more collaborative forum. Tapscott and Williams cite the development of Linux as the "quintessential example of peering."
  • Sharing, which is a less proprietary approach to (among other things) products, intellectual property, bandwidth, scientific knowledge
  • Acting globally, which involves embracing globalization and ignoring "physical and geographical boundaries" at both the corporate and individual level.


Although wikinomics is, essentially, a Web 2.0 phenomenon, the authors insist that wikinomics' reach extends beyond to the broader culture: "This is more than open source , social networking , so-called crowdsourcing , smart mobs, crowd wisdom, or other ideas that touch upon the subject. Rather we are talking about deep change in the structure and modus operandi of the corporation and our economy, based on new competitive principles such as openness, peering, sharing and acting globally."

The last chapter of Wikinomics contains just 15 words: "Join us in peer producing the definitive guide to the twenty-first-century corporation on www.wikinomics.com." Tapscott and Williams have established a wiki where readers can write and edit the content of their book's last chapter.

This was last updated in May 2007

Continue Reading About wikinomics

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

  • smart contract

    A smart contract, also known as a cryptocontract, is a computer program that directly controls the transfer of digital currencies...

  • risk map (risk heat map)

    A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces. A...

SearchSecurity

  • challenge-response authentication

    In information security, challenge-response authentication is a type of authentication protocol where one entity presents a ...

  • Secure Shell (SSH)

    SSH, also known as Secure Shell or Secure Socket Shell, is a network protocol that gives users, particularly system ...

  • honeypot (computing)

    A honeypot is a network-attached system set up as a decoy to lure cyberattackers and to detect, deflect or study hacking attempts...

SearchHealthIT

SearchDisasterRecovery

  • virtual disaster recovery

    Virtual disaster recovery is a type of DR that typically involves replication and allows a user to fail over to virtualized ...

  • tabletop exercise (TTX)

    A tabletop exercise (TTX) is a disaster preparedness activity that takes participants through the process of dealing with a ...

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a data center.

SearchStorage

  • exbibyte (EiB)

    An exbibyte (EiB) is a unit used to measure data capacity.

  • zebibyte (ZiB)

    A zebibyte (ZiB) is a unit used to measure computing and storage capacity.

  • tiered storage

    Tiered storage is a way to assign different categories of data to various types of storage media with the objective of reducing ...

Close