Difference between revisions of "Introduction to entrepreneurship/IENT101/Nature/Sharing ideas"

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	Read about the "''Goldcorp Challenge''" where the CEO of a struggling gold-mining company shared proprietary geological data with the world to find the next six million ounces of gold from their mine using an open competition. This case study is published on pages 7 to 10 of the introductory text of [http://www.wikinomics.com/book/IntroAndOne.pdf Wikinomics how mass collaboration changes everything].		Read about the "''Goldcorp Challenge''" where the CEO of a struggling gold-mining company shared proprietary geological data with the world to find the next six million ounces of gold from their mine using an open competition. This case study is published on pages 7 to 10 of the introductory text of [http://www.wikinomics.com/book/IntroAndOne.pdf Wikinomics how mass collaboration changes everything].

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Revision as of 04:12, 12 March 2017

Conventional business approaches are based on the proprietorship of ideas in order to retain competitive advantage before going to market. However, enabled by the open web, new models based on community, collaboration, self-organisation and open sharing of ideas are emerging. This raises the challenging question for entrepreneurs as to whether they should share their ideas in order to benefit from the "wisdom of the crowd".

“	A new kind of business is emerging—one that opens its doors to the world, co-innovates with everyone (especially customers), shares resources that were previously closely guarded, harnesses the power of mass collaboration, and behaves not as a multinational but as something new: a truly global firm. These companies are driving important changes in their industries and rewriting the rules of competition.	”
—Tapscott and Williams[1]

References

1. ↑ Tapscott, D., & Williams, A. D. (2010). Wikinomics how mass collaboration changes everything. New York: Portfolio Penguin.