WIKINOMICS

According to Tapscott, Wikinomics is based on four ideas: Openness, Peering, Sharing, and Acting Globally. The use of mass collaboration in a business environment, in recent history, can be seen as an extension of the trend in business to outsource: externalize formerly internal business functions to other business entities. The difference however is that instead of an organized business body brought into being specifically for a unique function, mass collaboration relies on free individual agents to come together and cooperate to improve a given operation or solve a problem. This kind of outsourcing is also referred to as crowdsourcing, to reflect this difference. This can be incentivized by a reward system, though it is not required.
http://www.wikinomics.com/blog


QUOTES ABOUT WIKINOMICS 

Eric Schmidt, the CEO of Google says that “Don Tapscott and Anthony Williams’ insights about the power of collaborative innovation and open systems, and their call to ‘reboot’ our institutions—business, education, media, government—haven’t come a minute too soon. Macrowikinomics inspires by chronicling these path breaking developments and pointing the way forward for all of us.”