Innovation Strategies from Wikinomics

Posted by jonpape | Filed under Business, Internet Marketing

Wikinomics
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Quoted or paraphrased passages from the book Wikinomics pertaining to innovative ways businesses can develop and participate with the open source community.

  • If your proprietary offering is stagnating, open sourcing the project could inject creativity and manpower required to make it succeed in the market (Sun’s OpenSPARC initiative)
  • Opening up intellectual property in one area of your business could boost demand for a complementary product and service offering (IBM’s WebSphere product).
  • The advantages of pooling competencies and reducing R&D costs exceed the benefits of having exclusive rights in the knowledge produced (SNP Consotium).
  • Use open source to seek qualified individuals to enlarge the pool of talent addressing a particular problem (Goldcorp).
  • An open platform will encourage innovation, efficiency, and interoperability with ecosystem partners (Amazon).
  • Sharing is necessary to establish credentials and to develop relationships with other contributors in the community (Spikesource).
  • Preempting the property rights of competitors shifts the locus of competition or enhances your freedom of action (Merck’s Gene index).
  • Openness removes unnecessary friction in collaborative projects and paves the way for the participants to focus on the science (Intel’s industry -university partnership).
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Read more | Comments (0) | December 21st, 2008