Tapscott and Williams argue that in the digital age, traditional hierarchical structures are becoming outdated, and organizations that harness the collective intelligence of online communities can achieve greater success. They coined the term "Wikinomics" to describe the new way of doing business that involves mass collaboration, open-source innovation, and the sharing of ideas and knowledge. The book presents several case studies of companies that have successfully implemented Wikinomics, such as Wikipedia, IBM, and Procter & Gamble, and highlights the key principles and strategies that they used. These principles include openness, peering, sharing, and acting globally. Tapscott and Williams believe that Wikinomics has the potential to transform not only business but also society as a whole, by creating more inclusive, democratic, and innovative systems.
One of the key ideas in Wikinomics is the power of online communities to generate and share knowledge. The authors argue that online communities, such as Wikipedia, are able to harness the collective intelligence of their members to create valuable content that is freely available to everyone. This collaborative model of knowledge creation and sharing has several advantages over traditional models, such as faster innovation, greater diversity of perspectives, and lower costs. In addition, the open and transparent nature of online communities can foster trust and cooperation among members, leading to more productive and effective collaborations. Overall, Wikinomics suggests that businesses and organizations should embrace the principles of openness and collaboration to tap into the full potential of online communities.
