Wikinomics

Summary:

Today, encyclopedias, jetliners, operating systems, mutual funds, and many other items are being created by teams numbering in the thousands or even millions. While some leaders fear the heaving growth of these massive online communities, Wikinomics proves this fear is folly. Smart firms can harness collective capability and genius to spur innovation, growth, and success.

A brilliant guide to one of the most profound changes of our time, Wikinomics challenges our most deeply-rooted assumptions about business and will prove indispensable to anyone who wants to understand competitiveness in the twenty- first century.

Based on a $9 million research project led by bestselling author Don Tapscott, Wikinomics shows how masses of people can participate in the economy like never before. They are creating TV news stories, sequencing the human genome, remixing their favorite music, designing software, finding a cure for disease, editing school texts, inventing new cosmetics, or even building motorcycles.

Comment:

“I heard Tapscott when he first completed this book. He is as passionate as his work, and he puts his points to work in engaging others to complete and improve the effort. The GoldCorp story is incredibly challenging in showing how people in unconnected continents, industries, perspectives, and organizations can work together to solve problems that highly-trained, highly-paid, and highly-incented internal geologists were unable to solve.

Tapscott shows how technology enables people motivated by a collective Purpose to not only accomplish their shared goal, but also to challenge — and topple — established competitors based on current business models. As a result, ALL corporations, regardless of size, stature, or longevity, must examine how much value they are bringing and rethink the way they are delivering it.

The economy is tough. David is armed and angry. Goliath better learn to move fast, or he is simply a large target. “