Flashcards in Class 3 Deck (10)
Wikinomics - Definitions
Wikinomics is a term that describes the effects of extensive collaboration and user--participation on the marketplace and corporate world.
No longer need to get all their knowledge from their own full-time employees.
4 Principles of wikinomics
- Openness: means sharing even what has been traditionally proprietary.
- Peering: is the collaboration of peers in a structured way and is self-organizing of masses of people rather than hierarchical command and control.
- Sharing: is opening up your intellectual property to others and letting others generate value that you cannot do yourself.
- Acting globally: meand that you have a global workforce, unified global processes, a global IT platform, etc.
How is the world of organized work
More & more work is being outsourced from
companies to independent suppliers
What do you think are the disadvantages
of the wikinomics principle?
Potential disadvantages of wikinomics include
the fact that it might not work and that
advertising your needs probably alerts
competitors to your plans.
1. The chain of command (=Hierarchy structure,
Company's hierarchy of reporting relationships -
from the bottom to the top of an organization, who must answer to whom
2. Functional structure
One of the most common organizational
structures. Under this structure, the organization groups employees according to a specialized or similar set of roles or tasks.
3. Flattering hierarchies & delegating responsibility
1. promotes employees involvement through a
decentralized decision-making process.
2. can benefit smaller organizations by increasing employee empowerment, participation and
The owners of small firms keep control over their business whereas, managers in larger businesses might delegate decision making & responsibilities
to other people.
4. Matrix management
Employees have dual reporting relationships -
generally to both a functional manager and a product manager
the composition of an individual team or of a
multi-team system ( no leader interfering with the work).