We define work visually as a matrix with 12 dependencies.
It is evident that Work, defined by Fig 2, is a flexible term, concept, to be made in numerous ways by several organizations with their people. We are rich in alternatives to execute ”work”. Still there is much unemployment, which causes serious problems.
Crowdsourcing is one common method to tackle the most challenging and wicked problems of the world, defined by World Economic Forum and many other forums: public and private think-tanks.
Wikinomics has grown along with Wikipedia and many big projects like Human Genome.
The four principles are the central concepts of Wikinomics in the enterprise:
In the chapter The Perfect Storm, the authors give an overview of the economic effects of the kind of transactions Web 2.0 permits. According to the authors, Coase’s Law (see Ronald Coase) governs the expansion of a business:
A firm will tend to expand until the cost of organizing an extra transaction within the firm become equal to the costs of carrying out the same transaction on the open market.
However, because of the changing usage patterns of Internet technologies, the cost of transactions has dropped so significantly that the authors assert that the market is better described by an inversion of Coase’s Law. That is:
A firm will tend to expand until the cost of carrying out an extra transaction on the open market become equal to the costs of organizing the same transaction within the firm.