The term "Wikinomics" is a combination of the words "wiki" and "economics". It was coined by Don Tapscott and Anthony D. Williams in their book Wikinomics: How Mass Collaboration Changes Everything.
Wikinomics is the study of the economic impact of collaborative technologies, such as wikis. It encompasses the analysis of how these technologies are changing the way businesses operate and how they are creating new opportunities for value creation.
Tapscott and Williams argue that the collaborative economy enabled by the Internet is revolutionizing the way businesses operate. They identify four key drivers of this change:
1. The increasing availability of powerful collaborative technologies
2. The decreasing cost of participating in the collaborative economy
3. The trend towards openness and transparency in business
4. The increasing global connectivity of people and businesses
They argue that these drivers are leading to a new era of "mass collaboration", in which businesses are increasingly relying on collaborative technologies to create value.
Wikinomics has been criticized for its utopian view of the collaborative economy. Critics argue that the book overestimates the ability of businesses to harness the power of collaboration, and that it downplays the role of competition in driving innovation.
What is the principle of wikinomics?
The principle of wikinomics is the application of the collaborative and open-source principles of Wikipedia to business. The term was coined by Don Tapscott and Anthony D. Williams in their book Wikinomics: How Mass Collaboration Changes Everything.
The basic idea behind wikinomics is that businesses can no longer succeed by operating in isolation; instead, they need to embrace collaboration and open-source principles in order to succeed. This means that businesses need to be open to sharing information and ideas, and they need to be willing to work with others in order to create something new and innovative.
The wikinomics principle has been applied in a number of different ways by businesses. For example, many companies have started using open-source software in order to save costs and create better products. In addition, many businesses have started using social media platforms such as Facebook and Twitter in order to connect with their customers and create a more open and interactive relationship.