Wikinomics

How Mass Collaboration Changes Everything

Don Tapscott, Anthony D. Williams

15 min read
1m 12s intro

Brief summary

Wikinomics argues that the most successful modern organizations gain an edge by embracing openness, peering, sharing, and global collaboration. They innovate faster and build better products by inviting the outside world to help create value.

Who it's for

This book is for leaders, managers, and entrepreneurs who want to understand how mass collaboration can improve their business models and products.

Wikinomics

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How Mass Collaboration Changes Business

A turning point came when Goldcorp, a struggling mining company in Ontario, did something almost unheard of in its industry. Instead of guarding its geological data, CEO Rob McEwen published it online and offered prize money to anyone who could help find gold. Experts from many fields, including people far outside mining, studied the data and identified promising drilling targets that Goldcorp’s own staff had missed. The move helped transform the company from a debt-heavy miner into a much larger and more successful business.

That story captures a broader change in how value is created. For a long time, companies relied on closed hierarchies, internal departments, and carefully protected secrets. The spread of cheap digital tools made it possible for millions of people to connect, contribute, and solve problems together. What once required large organizations and heavy infrastructure can now be done by networks of people working across borders.

Four habits define this new environment: openness, peering, sharing, and global action. Openness means that useful knowledge does not sit only inside one company, so firms gain by making their boundaries more flexible. Peering means people can organize themselves without waiting for instructions from a chain of command. Sharing means certain ideas, tools, and data create more value when many people can build on them. Acting globally means treating the entire planet as a possible source of talent, partners, and markets.

These habits change the role of both companies and individuals. People are no longer only consumers or employees following orders. They can also be contributors, designers, critics, and collaborators. Businesses that still rely on pushing finished products toward passive buyers face growing pressure from organizations that invite the outside world to help create better answers.

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About the author

Don Tapscott

Don Tapscott is a Canadian business executive, author, and consultant who is one of the world's leading authorities on the impact of technology on business and society. For over three decades, he has introduced influential concepts on technological revolutions through his numerous books and co-founded the Blockchain Research Institute, a definitive think tank on blockchain strategy and implementation. He is considered one of the most influential management thinkers in the world and serves as an adjunct professor at INSEAD and Chancellor Emeritus of Trent University.

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