Wikinomics is used to describe the importance of extensive collaboration and user-participation on the corporate world. On order to response on the rapid changes in technology, globalization, and its effects on business, the economy and the world as a whole, we are going to encourage a trend of world in which people take part in the economy something like nothing before. The growing accessibility and the use of information technologies required for collaborate, create value and compete at everybody’s fingertips. This new mode of innovation and value creation is the output of massive technological development and mass collaboration among the different entities of corporate world. The concept of “Wikinomics” was first introduce by Don Tapscott and Anthony D. Williams in their book titled “Wikinomics: How Mass Collaboration Changes Everything” as a means of mass collaboration to lead business in the 21st century.
Now let have a brief illustration that what most people think abut the word “collaboration”. In general view it is the act of working together as a united force of labor and effort. If we consider is to explain more extensively we will think of some images where people working together collectively and productively. Not only in business or office environment but also in our everyday life, we collaborate with each other continuously and deliberately. The growing acceptance of extensive use of information technologies made the collaboration easier and less costly. The use of Internet telephony to open-source software to global outsourcing provide a strong platforms of mass collaboration to thousands of individuals and organizations to co-create products, access in markets and create value for customers in such a ways that only large corporations could manage in the past. Now the individuals and business organizations can easily contribute to the digital communication at
What about the contribution of Wikinomics in business? How Wikinomics will help for business collaboration? Whether it will be successful for the purpose? Well the answer should be “YES” to some extend (at least theoretically). It is not just an action to undertake or a game to play, it will not be sufficient only to intensify the existing management strategies of the business organizations. The corporate decision makers and strategy formulators must think in a different way that how to compete and to be profitable though a new art and science of collaboration what we call Wikinomics. Now let see about what the author think of it:
It is sound good that business collaboration is taking its new height. You cannot expect an extraordinary change is taking place at overnight. The initialization of the new concept is under construction. In order to make it useful the business organizations and corporate policy makers must have shake hand on the platform of new way collaboration. It is not the high time to decide the fact of a newly established concept of collaboration. Now the time will put the answer whether Wikinomics is remain as an immaterialized concept or it will remain as a myth or it will be a reality of the new age collaboration of 21st century. Let hope for something good and dynamic. Let be the hope that we will find Wikinomics as a new art and science of collaboration in coming days.