"Wikinomics"

 This weeks blog comes from an excerpt from a reading we had in class on Wikinomics. To begin to talk about Wikinomic i think we first have to understand how we have changed as a society. In today's society we see a lot of people who are consumers become the producer through sharing their ideas with  not only each other but the corporations and businesses who create the product. With ordinary people and firms linking up to drive innovation and success in new imaginative ways, we have come to a place where Businesses, Firms, and other Corporations have had to set new competitive principles also known as Wikinomics. These new principles help the organizations connect and share with their consumers like never before. (This video is one example of a company names Cener Health it shows how it uses the ideas from Wikinomics to advance their corporation)

Principles Of Wikinomics

With Billions of connected individuals actively participating in Innovation, Wealth Creation, and Social Development in ways we have never thought of, it is not uncommon to see firms incorporating these changes in their own companies. Before doing so four main principles need to be followed, and these are the same ones that give Wikinmoics an advantage in my eyes over other collaboration ideas. Being Open, Peering, Sharing, and Acting Global are all principles that in the last 5 years personally i have seen companies begin to incorporate into their businesses.

In the past businesses would use their own personal website to get information to their customers as well as any feedback that they might receive, but in today's society with the masses of people collaborating to innovate old ideas and create new ones we see these companies using web-based communities. These communities such as Twitter, Facebook, or Yelp are now being used more than ever by companies who know, that using Wikinomics is the new way to innovation. Companies now have the Facebook, and Twitter Logo's right at the end of their commercial. With companies being able to bounce ideas back and forth with consumers who collaborate with each other as-well, one question that is still left unanswered is, does Wikinomics show Promise or Peril?

Personally i think this show's more promise than ever before, with companies, and their consumer being able to interact and create the possibilities to change and advance the Arts, Culture, Science, Education, Government, and even the Economy. They say that "It Takes A Village to Raise a Child" well going on that note i think that "It takes Millions to Create Innovation".