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

Powered by:

SearchCompliance

  • California Consumer Privacy Act (CCPA)

    The California Consumer Privacy Act (CCPA) is legislation in the state of California that supports an individual's right to ...

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

SearchSecurity

  • endpoint detection and response (EDR)

    Endpoint detection and response (EDR) is a category of tools and technology used for protecting computer hardware devices–called ...

  • ransomware

    Ransomware is a subset of malware in which the data on a victim's computer is locked, typically by encryption, and payment is ...

  • single sign-on (SSO)

    Single sign-on (SSO) is a session and user authentication service that permits an end user to enter one set of login credentials ...

SearchHealthIT

SearchDisasterRecovery

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

SearchStorage

  • blockchain storage

    Blockchain storage is a way of saving data in a decentralized network which utilizes the unused hard disk space of users across ...

  • disk mirroring (RAID 1)

    RAID 1 is one of the most common RAID levels and the most reliable. Data is written to two places simultaneously, so if one disk ...

  • RAID controller

    A RAID controller is a hardware device or software program used to manage hard disk drives (HDDs) or solid-state drives (SSDs) in...

Close