MicroSummary: Silicon Valley legend Ben Horowitz’s The Hard Thing About Hard Things is a no-nonsense peek into the challenging world of startups. When you intend to start a startup, you pass through a lot of emotional stages. The “idea moment” comes with joy, pride, and excitement.
The New Psychology of Success
Renowned Stanford University psychologist Carol Dweck, spent years studying the way people think and how some persons manage to achieve success.
She then discovered the power of our mental attitude. In Mental Attitudes, she explains why success does not depend only on our abilities or talents, but on how we deal with life situations and how it depends on two mental attitudes: fixed and progressive.
It also makes it clear why praising intelligence and skills does not aid in the development and progress of anyone, sometimes hindering that person’s growth.
Mental attitudes will help you find the tools to achieve your goals and achieve success in all areas of your life by changing your brain for the better. Let’s get to know Carol Dweck’s Mindset in 12 minutes?
This is maybe the most famous concept nowadays. Lots of things seem to gravitate around it.
For thousands of years, philosophers, religious institutions, and scientists witnessed vast societal differences among the people. The only way to describe this weird behaviour was to comprehend the relativeness of “Mindset”.
They’ve figured it out that each personality is shaped by the environment, person’s intelligence, education and genetic predispositions.
Our book summary clarifies the main points from which a particular mindset is developed like parental upbringing, intelligence, level of education and genetics.
Stay with us, and you’ll find out everything you need to become successful!
Who Should Read “Mindset”? and Why?
It is not so simple to limit any book to a particular target group of readers that are more likely to be interested in, especially when we talk about deep, clear, and excellently written masterpiece like “Mindset.”
Therefore there is no particular target group. As a valuable piece of content, written at the highest level, “Mindset” attempts to expand people’s knowledge about different Mindsets and the benefits, and obstructions that they carry.
About Carol S. Dweck
Carol S. Dweck is an American-born professor, psychologist, and a writer. She was born on October 17, 1946, in the United States of America. Back in 1967, Carol graduated from Barnard College, and five years later she received her PhD from Yale University. Her professional career started at Columbia University where she taught psychology.
Also, she worked at Harvard University and the University of Illinois. In 2004 Carol decided to join the Stanford faculty where she continued to work as a professor.
“Mindset” gave her the privilege to be considered as one of the leading researchers in personality and psychology. Despite her expertise in psychology, she is also a member of the American Academy of Arts and Sciences.
Mindset is a difficult term to explain. The world-renowned Stanford University psychologist tries to get a hold off its truthfulness by seeking for an absolute definition. She rewrites the theories of the psychology of success by bringing in the frontline mindset as the strongest concept.
Her prerequisite is simple but powerful: Only a healthy mindset can bring you long-term success. For instance, have you ever witnessed a depressive person who managed to keep its intensity? – We doubt it!
Initially, the readers must be familiar with the term “fixed mindset.”
You Can Be Destroyed By a Fixed Mental Attitude
People grow and change every day, but a person with a ‘fixed mental attitude’ ignores this truth and chooses to believe that their traits and talents are fixed. They think, therefore, that they are attached to the level of intelligence with which they were born or that if they were not born with a natural talent – such as singing for example – they will remain so. Basically, they believe they lack the ability to change.
A fixed mental attitude makes people feel they need to always prove their abilities to them and to the world, demanding daily praises and words of affirmation. For them, failure is an unacceptable constraint, to be avoided at all costs.
They think they must have natural talents for all they seek, and if they have not, then they should not even try. They believe that if you have to work hard and strive to have a skill, then maybe you should not even try.
Because perfection is the goal of fixed mental attitude, these individuals tend to cling to what they already know to achieve success. A study was conducted in which they offered young children the option of redoing an easy puzzle or trying a new, more difficult puzzle.
Children Seek to Learn One of the Two Mental Attitudes With Parents, Teachers or Coaches
Everything we say and do can leave a mark on a child. As parents, teachers or coaches dealing with their growth and development, we must be sure that we are encouraging progressive mental attitude and teaching them to learn and grow.
Sometimes we send intentional messages that we are judging them and that they can not change or improve.
Children with a fixed mental attitude chose the easy puzzle because they knew they could complete it successfully.
If you have a fixed mental attitude and make a mistake, that experience will become a decisive moment that will classify you as a failure. You believe that your potential never changes and can be evaluated at any time. Your goal in most things is to prove how clever you are and ensure your superiority over others.
None of the things that a fixed mental attitude tells us are true or healthy. When we think this way, every day we stop ourselves from reaching our potential and achieving our goals and dreams. With the right mental attitude and a lot of hard work and dedication, we can develop the skill, intelligence, and competencies we want to acquire.
If a teacher positions all his students according to their IQs and then treats them differently, she/he is imposing a fixed mental attitude. Children get the message that they need to look smart and strive to be the best and that they can not change their intelligence or position.
They then believe that only the smartest children have privileges and opportunities because only they can be trusted.
What children should learn is that always persevering and striving to the fullest is far more important than anything else. We should not stop them from trying new things by making them feel dumb for failing. We must then find a way to help them develop better learning strategies.
Children need to learn that they are capable of making changes by actively working on what they want to change.
Praise can be a useful tool to motivate children, but only if done properly. You should praise the effort the child makes, not his or her intellect, talent or speed. They need to be encouraged to work hard. And they should not be praised constantly because it feeds the fixed mental attitude, which causes them to need constant praise and affirmation. Praise should be given when truly deserved.
If a child fails, it is our duty as adults to show it how to turn that failure into a learning experience. When you take a low grade on a test, we should help you to see that the reason for such a grade is the fact that you need to work harder to learn the subject.
The standards should be high, and we must then help the children to reach them and even exceed them.
Your Success Is Determined By Your Mental Attitude
“What makes someone achieve what others can’t” isn’t the initial talent or aptitude and it is not luck: it is the fact of having a progressive mental attitude. It all depends on how each person thinks and reacts to each new situation. If you think you have the power to change and learn from each experience, then you are much more likely to succeed.
A fixed mental attitude will cause you to worry about proving yourself repeatedly and will not be able to focus on being better. You may not be doing what you love because you are afraid you will not be able to achieve it. So instead you get what you know you can do, holding back your potential to grow.
Fixed and progressive mental attitudes work differently because they have different goals. Take, for example, two marathon runners. A marathoner with a fixed mental attitude will probably try to run without much training, seeking the first place because it proves that he has a natural talent.
But if he does not get first place, he will lose interest in the marathon, make excuses, and continue to train in the same way.
In the same situation, a marathoner with a progressive mental attitude will devote much time and train as much as he can. For him, not being first-place is not devastating, it’s simply a sign that he needs to train harder.
You will enjoy the challenge and the chance to grow. He realizes that talent is not something fixed, but that it can increase it with effort and learning.
People with a fixed mental attitude think that having to work makes them less talented or intelligent than others – they see everything as a competition. In contrast, those with progressive mental attitude regard others as companions rather than competitors.
They think that anyone can learn through effort and that effort – not result – should be praised.
Your Mental Attitude Also Determines Your Relationships
People with a fixed mental attitude often have difficulties with relationships, because growth is the food of love. This is true for family relationships, friendships, and love relationships.
Each relationship requires work, but having a fixed mental attitude is not compatible with great efforts. Instead, these individuals prefer to make excuses when things are not working and give up when they get difficult.
Relationships are never perfect. Therefore, people with a fixed mental attitude need to seek the perfection and are unhappy when they cannot reach it. Couples will not be 100% compatible – in fact, most relationship experts think that differences are healthy.
The trick is to allow the other person to open up about differences and open yourself up about yours.
People with progressive mental attitude accept much more easily that each person is different and recognize that they themselves are struggling all the time to grow, develop, and become better people.
They also like to be close to people who help them in this growth process, not only with motivation and support but also allowing it to reciprocate. When problems and disagreements occur, as they possibly will, people with this mental attitude use them as an opportunity for growth.
When two people with a fixed mental attitude are in a relationship, they need to avoid the danger of turning the other into an enemy. If for example, Gabriela and Marcelo, who are dating, are always trying to prove that they can do better than each other, their relationship will be in difficult waters.
No one wants to be the weaker or inferior. They must work together and for each other in all kinds of relationships. And it is very important to recognize the fact that people can change.
In a relationship, you have to accept that you will not agree at all and be able to look at it as a positive learning experience. Constant communication will allow you to talk about any issues that arise. It’s important not to assume you know what the other person is thinking or feeling – you always need to ask for everything to be clear.
For Success In The Workplace Look For a Progressive Mental Attitude
Having a fixed or progressive mental attitude determines whether you will fail or succeed in business. Just like in any other area, some people are more talented than others. Creating a team of talented people will not be enough if they do not have the right mental attitude.
Individuals in certain positions who have a fixed mental attitude become stagnant and may even cause businesses to break. They hinder the learning and change processes needed to succeed.
The company needs a progressive-minded leader to improve and preserve processes. This person should be willing to communicate with people at all levels to assess problems and think about effective ways to solve them.
General Electric’s Jack Welch was such a leader, who kept constant conversations with his workers at the plant and acted giving feedback. He cared about his team, not himself because he understood that the company’s success needed the effort of the whole team. He did not depend on his own talent for success but worked every day for the company’s interests.
On the other hand, Chrysler’s former CEO, Lee Iacocca, was a leader with a fixed attitude, totally focused on himself. He could not grow and adapt to market changes and was eventually replaced. Iacocca was too busy trying to prove his work to the world to be able to finish anything useful.
To grow, businesses need employees with a progressive mental attitude. Every worker needs to be valued and allowed to express their opinions when they are needed. If the workforce gets into the habit of thinking in groups and everyone thinks similarly, and no one can disagree or criticize, then bad decisions will be made.
Each individual needs to be able to point out flaws in plans.
People with progressive minds can use negative feedback and turn it into a development opportunity, while fixed minds will simply feel judged.
Successful businesses recognize that high-performing employees are an asset and should never, for any reason, be harmed.
Each member of the workforce must work together, as a team, to promote group success. No one should be valued more than others and everyone should help to promote mutual development.
A Progressive Mental Attitude Is Also In The Best Athletes
While many athletes truly possess a natural talent, the sport’s elite also works very hard to achieve and maintain their status. However, some of them let their talent pull them away from greatness.
They know they have the ability and as a result, expectations are so high for them that a fixed mental attitude keeps them from putting more effort. And if they fail at any moment, they believe that this is a devastating and embarrassing blow and will not strive hard enough to become the best and remain as such.
At the outset, renowned boxer Muhammad Ali was not considered a born athlete – he was not compared to other boxers who fit the ideal physique. Still, he managed to beat Sonny Liston, which was exactly what a boxer should be.
That’s because Cassius Clay, as he used to be known, used his progressive mental attitude to determine how he could beat his most naturally talented opponents. He was smart, and this allowed him to win.
Reaching the top in any field is actually the fruit of hard work and effort to learn anything you can about what you are doing. The best athletes know that they can always improve and are constantly practising and developing new ways to do this.
They never think that they have reached the top and that there is nothing else to learn. They have the character to be tough when things get tough. Many potential athletes have talent but do not possess the character to pursue it.
Champions athletes do not make excuses and do not flee from failure. They use every game and training as an opportunity to learn and grow, and each defeat simply teaches them about what they need to improve.
This means that they must possess a progressive mental attitude and believe that they have the ability to make changes in themselves and in their games. It’s a matter of hard work and learning, finding motivation in defeat, and maintaining a right attitude.
If you want to play a sport, you can not be afraid of failing and can not get away from the work involved in acquiring the skill. You may not be a born athlete, but it does not mean that your effort will not help you to be talented. Do not be afraid to try.
You Need to Work Constantly to Change Your Mental Attitude
Knowing the difference between fixed and progressive mental attitude is the first step to self-improvement, but you cannot stop here. Changing your mental attitude takes time and a lot of effort. It will not be enough to make only one or two small changes. You will need to look at everything in your life in a new and progressive way.
You may begin by asking yourself where you will find opportunities to learn and grow every day. You may be surprised to find out how many possibilities there are. It may be scary at first, but the more control you have, the more you can grow. You should plan to keep this new mental attitude and continue your growth.
In time, you can become the person who always strives and learns in all situations. Then you will begin to promote the growth of those around you. Remember that it will be a difficult job and that effort is what you should praise in you and others.
The fixed mental attitude that you struggled to leave behind will still be present. But fortunately, with the skills you will gain by learning the progressive mental attitude, you will know that it is always possible to change for the better.
You are not stuck in your current state. It is possible to change your whole perspective and approach in life to facilitate success and growth. You just have to be willing to work hard and maintain the right mental attitude.
It indicates an inflexible attitude without any openness to something new – person’s mind area of strictly established concepts. The opposite term is known by the name “growth mindset”- a new (more flexible) perspective is characteristic of this mindset.
But what is the hypothesis that lies at the base of his book? One simple assumption: People differ from one another.
Every person carries a set of individual characteristics, and the sooner you realize that, the better. Just like buying fruit, you can choose from apple, avocado, watermelon, blueberry, etc. It all depends on what you need at this current moment, and that shapes your mindset.
Intelligent individuals, for example, are often less-social than other ordinary people, they just enjoy spending time with themselves. Others are more prone to scams, frauds and other dishonest activities.
Think about this for a moment.
Although each person has its own set of beliefs and opinions, the world must be, and it is shared among different nations, races, religions and various types of individuals. The modern society, according to Dweck, divides people into those willing to learn and educate themselves and the ones that are ignorant, stubborn and uneducated – with a complex personality.
The second category has one thing in common: they consider the overall lifetime education a foolish and unnecessary process, but they are not aware of the fact that their stupidity affects the entire community, not just them.
Looking beyond abilities and talent will help us approach success differently. The right perception of things like this is more than a debt that we owe to ourselves. It’s more responsibility, equally to ourselves and to those we see as mentors – our kids, our students, our employees.
Key Lessons from “Mindset”
1. How does the “Fixed Mindset” concept affect individuals
2. Understand the Mindset and its impact
3. A person’s mindset is under constant evolution
How does the “Fixed Mindset” concept affect individuals
The mindset has important indications, although the majority of people are very imprecise when estimating their potential. You’ve been introduced to the “ﬁxed mindset” concept that is well-known for taking things too seriously and personally.
These individuals decode subtle messages differently. Sometimes, they cannot simply cope and accept the reality, so these “fixed mindset” personalities feel unwanted and rejected by the social group.
On a long run, such a mindset could lead to a lower self-confidence and mood swing.
According to Dweck, people that are identified as such individuals try hard to conceal their weaknesses, because for the majority of times even they don’t believe in successful relationships, marriages, careers and so on.
Understand the Mindset and its impact
Up to now, you have probably realized that mindsets are producing different worldviews and perspectives, these contradictory views can be subject to change as a person expands his knowledge of something.
For instance: If American parents raise a baby, it is evident that that baby would grow up to be a proud American, but if French parents adopt the same baby the child will not identify itself as an American.
This simple example shows how human beings can be taught new things, react and think differently, and evolve to different surroundings.
You can take another example: Successful sports athletes according to sports researchers, “conquered the world” because they were focused on the present and ignored every unnecessary distraction, only by changing their mindset they’ve learned their lesson and become champions and winners.
A person’s mindset is under constant evolution
Businesses today are in pursuance of pure talents. Unintentionally, the companies have evolved and transformed their mindsets.
These businesses look for talented adults, those with a high-educational level that can give any company some extra value to their services.
As a consequence of this concept, the mindset of an average person is forced to develop and grow inwardly.
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“Mindset” QuotesBecoming is better than being. Click To Tweet Did I win? Did I lose? Those are the wrong questions. The correct question is: Did I make my best effort? If so, he says, You may be outscored but you will never lose. Click To Tweet We like to think of our champions and idols as superheroes who were born different from us. We don’t like to think of them as relatively ordinary people who made themselves extraordinary. Click To Tweet No matter what your ability is, effort is what ignites that ability and turns it into accomplishment. Click To Tweet Picture your brain forming new connections as you meet the challenge and learn. Keep on going. Click To Tweet
The mental attitudes we adopt are at the centre of what we do, think and feel every day. Understanding that progressive mental attitude leads to success and self-improvement, while fixed mental attitude prevents you from growing, can help you control your development and happiness.
You have the ability to change, and nothing is fixed unless you become.
You can change from a state in which you fear failure to a state in which you create new experiences and discover a new way of thinking about each experience in your life. You can also use this new knowledge to empower the people you love and encourage them to progress.
Mental attitudes are applied both personally and professionally. When you really think about it, you will find that you can use the progressive mental attitude to change everything in your life for the better.
Do not let the fixed mental attitude hinder you. You can change who you are, increase your intelligence and discover new hidden potentials. Who you are and what you can do depends entirely on yourself.
12min tip: If you liked this title, we think you will also love our microbook based on Influence: Science and Practice, by Robert Cialdini. Check it!
MicroSummary: In Wikinomics, Don Tapscott & Anthony Williams write about the powers of mass collaboration and how it is changing the way companies innovate. In Wikipedia times and dozens of other products and services co-created by thousands of people, the authors created the term Wikinomics to describe the unique blend created by technology and globalization that allows massive collaboration to be possible. Mass collaboration leads to innovation and catalyzes changes in society itself. If you own a company, you need to be aware of the effects of Wikinomics to innovate and defend yourself competitively as consumers want to be more and more involved in creating those products.
How Mass Collaboration Changes Everything
We live in a world which transforms rapidly. The digital age creates many new circumstances for all of us. It poses new opportunities, new constraints.
So what has changed? And how do those changes affect you and the age of Wikinomics? Our “Wikinomics Summary” explores these questions and more.
Now, let’s dive right into it.
Who Should Read “Wikinomics”? and Why?
It is relatively challenging to specify a group of readers to whom this book would be intended. Magnificent piece of work written for HR Managers, Scientists, Futurologists, and Experts who wish to expand their views and get a broader perspective of where this digital age is going.
Students known for their thirst for new knowledge would find Don Tapscott and Anthony D. Williams’s work as one of the most extraordinary and exceptional business guides they have ever read.
Known for its first-person examples and high-quality tips “Wikinomics” is no wonder an all-around book that can answer any business related question.
Next, before we thoroughly examine the book’s content, we’ll cover the authors’ bio and their expertise.
About Don Tapscott and Anthony Williams
Don Tapscott was born on July 1, 1947, in Toronto, Canada. He is an author, consultant, business innovator and executive that is focusing on combining different business strategies that would generate an organizational transformation in the society.
As a founder of New Paradigm, that is currently owned by NGenera, and as a CEO of the Tapscott Grouping, Don Tapscott encourages companies to overcome organizational boundaries by associating with the latest technologies.
Anthony D. Williams is a Canadian Born author, a senior fellow at the Lisbon Council, founder of the Anthony Williams Consulting in Toronto and a strategic adviser to different governments, global institutions, and other Fortune companies.
He was born in 1974 in Toronto, Canada. Anthony Williams and Don Tapscott as co-authors of Wikinomics are repeatedly dismissing any criticisms based on their book without answering any of the critics.
Okay, now that we covered the basics, let’s continue with the detailed summary.
Don Tapscott and Anthony D. Williams through their Wikinomics book try to intrigue readers in numerous ways.
The book examines all possibilities of massive data sharing and participating in open-source software that is available to all business participants, consultants, and experts.
Back in the old days, sharing and delivering an information required a lot of effort, now all you need is a computer with unlimited access to all sorts of free encyclopedia sites.
So to speak every user is familiar with the fact that the digital era contributes to a new highly educated population.
Now, what can you expect while reading the book?
Well, some of the examples that you may run into while reading Wikinomics would probably sound familiar, while others may seem a little surprising and maybe even shocking.
These authors are so intently a part of the new era that makes them feel obsessed with knowledge -seekers – for instance, sometimes specific actions or changes that are done by few enthusiasts seem like some internet transformation procedure.
You Probably Have Already Developed A Product
Collaboration has won, and daily we are connecting to create new products and services. If you’ve ever edited a Wikipedia entry or helped Buzzfeed generate a list, supported products on Kickstarter, you’ve already participated in mass collaboration.
Easy access to information technologies is the primary tool for active participation of digital communities, where collaboration happens in a natural and scalable way. Look at Wikipedia for example. Do you remember Microsoft’s Encarta?
In the past, only encyclopedists were responsible for gathering the knowledge of the world into quality books and creating the final version of an encyclopedia, which was then printed annually (or recorded on a CD ROM).
Today, any individual can participate in creating encyclopedic content on their areas of knowledge through Wikipedia.
Just write an article, which will be discussed and edited by the wiki community and voilà, we have a new topic in the largest encyclopedia on the planet.
Why Collaborate If You Can Go Alone
Well, the truth is that most companies are terrible when it comes to innovation.
Going alone can almost always become synonymous with failure. Currently, according to Tapscott, 90% of new end consumer products fail.
The traditional model of innovation no longer works, and the wiki model is the perfect storm.
The wikinomics model emerged from a unique blend composed of low-cost collaboration technology (also called the internet), a large mass of digital natives enabled to use these tools and various evidence, real cases that collaborative innovation works.
The world is experiencing its new revolution. The digital sphere is taking over all operations, as a more accessible and quicker way to build networks and streamline the processes. Mass collaboration is the light at the end of the tunnel.
Not to mention innovation that as a term and concept is continuously shaping and remodeling based on the opportunities presented. For instance, if a company wishes to instill new principles/practices/methods/technologies within its ranks, it no longer needs to rely on paperwork heavily.
A countless of tools available today are manifesting the bright future that awaits us, which facilitates the problem-solving as a process. To put it differently, no longer people need to abide by outdated norms and non-actionable techniques. Moreover, the tech-savvy society promotes thousands of channels that can replace these conventional triggers, which are slowing the progression and endangering the prosperity.
As the Internet Culture continues to evolve, mass collaboration becomes even more fundamental. After all, unlike traditional media such as TV, Radio and Printed Media, the internet is a channel of endless ways.
It’s like a phone, but where any number of people can be on the line at the same time and this new nature of the medium has made it the perfect tool for collaboration.
Collaboration involves the self-organized participation of many people, such as in a colony of bees.
The interaction between these individual actors seems complicated, so in the next passage, we will make some sense of this apparent chaos.
Goldcorp, A Case Study Of Massive Collaboration
Goldcorp is a Canadian mining company. Increasingly the company suffered from fewer resources in its mines and an uncertain idea of where to look for new gold mines to explore.
The company’s team of geologists failed to advance with their traditional exploration and definition of new areas to explore that had worked previously but no longer yielded results.
The CEO made a landmark decision to open the exploration problem by making the geological data available to the market. Previously, these data sets were kept under lock and key.
An army of scientists and enthusiasts, computer scientists and mathematicians took an interest in the problem and came up with a huge list of places with high potential for exploration.
More than half of them were unknown to the company’s geologists team. The company went from $ 100 million to $ 9 billion in just four years.
The Basic Values Of Wikieconomy
For the authors, there are fundamental values to be adopted by companies so that they can enjoy the benefits of the wikinomics model. They are:
- Open: Are you ready to open your infrastructure and intellectual property to the market as did companies like Amazon, eBay, and Google to accelerate the adoption of innovation?
- Partnerships: Are you able to cultivate a corporate culture that extends beyond your office, so that employees, partners, customers, consumers and the government work together to create value?
- Sharing: Would you be able to develop relationships with other companies like IBM did with Linux, understanding that a free, free operating system was an opportunity rather than a threat? By investing in Linux, IBM saves more than $ 1 billion per year that it would have to maintain internally developing its proprietary software.
- Act Globally: Can you think globally and act globally? Today the economy is increasingly globalized and working locally, as the jargon said, is no longer enough. It takes an impact. By following these four principles, you are likely to greatly expand the collaborative capacity of your business and thereby make it easier to open the doors of innovation to your business.
According to Coarse’s law, organizations are structured in the current model because of the information costs in each transaction.
Each action that adds value to a product or service involves a search cost (someone to do/ discover/invent), a transaction cost (the cost of negotiating with the producer), and the cost of the product itself.
Traditional organizations are great, not only to have access to economies of scale, but also to pay off the product’s research and transaction cost.
The reason why this is important in wikinomics is that search and transaction costs have declined dramatically with the advent of the internet.
And that makes organizations irrationally structured in the face of the new economic model, and so they need to shrink to stay competitive.
Going Global Is Inevitable
Failure to embrace mass collaboration can mean a failure for businesses soon; they simply will not be able to generate enough value quickly, and with that, consumer interest disappears.
Today, in the globalized world, the opportunities for the customer are endless, and this means more competition for companies. Mass collaboration helps companies not only better develop their products, but also sell more and better.
Today, the low production costs of emerging economies such as China offer quality services and products for only a fraction of the prices found in more mature economies and this reduces the chance of survival of companies that do not embrace global collaboration.
IBM had adopted this strategy and moved toward free software (open source software that can be changed by any programmer on the planet) when the company faced a crisis, and this has delivered surprisingly positive results, as well as helping the company engage programmers externalities in their software challenges.
The Risks Of Collaboration
Mass collaboration also comes with the constant risk of losing control over your product.
When you give others the right to co-develop, then the value is transferred from the components of the products to the new invention made from these products.
That means that companies must constantly be aware of how their product is being used and developed to remain innovative.
Finally, by collaborating with external partners, you simply cannot expect them to have the same credibility and work ethic as your company.
Since mass collaborations are often cooperative productions, a company can not rely on the same work ethic that is enjoyed internally, after all the participants are not employees of the company.
Intellectual Property Is Still Important In Times Of Mass Collaboration
While intellectual property protection is often the most valuable asset of companies, companies must be prepared to share at least a certain amount of their intelligence to collaborate effectively.
Google, for example, has hundreds of free software projects open to collaboration, but its search algorithms are never revealed. Intellectual property is important and continues to play a critical role in times of mass collaboration.
The Wikinomics model is by no means a kind of “intellectual communism.” Risk must be avoided by retaining a certain amount of information; after all, today’s contributors can easily turn into tomorrow’s competitors.
While recognizing the inherent value of intellectual property, companies must balance their security with a more open approach to collaborate effectively and thus achieve the desired level of collaboration.
Effective collaboration starts internally. Since performing all the tasks required to produce a product internally can be very costly, it becomes virtually obvious that it is necessary to delegate certain tasks to suppliers.
And as the complexity of work and the expectations placed on employees continue to grow, giving them autonomy becomes an increasingly valuable strategy.
In fact, vertical hierarchies prove counterproductive to creative types of work, which often runs on teams.
Also, a company can simultaneously gain the trust of its employees and motivate them to perform when they share important information with them.
In fact, transparency within the organization ensures that employees better understand your products, and therefore can better coordinate your work.
This results in lower costs and more profits as well as innovations and a higher value of the product. Mass collaboration helps companies expand their operations and allows businesses to do more with less.
Also, mass collaboration drives innovation and helps to distribute talent optimally, driving up the speed with which changes occur.
A partnership with a university, for example, can help your company benefit from different perspectives by helping parties focus not only on a single solution to a problem but also remain open to many solutions.
Mass collaborations also drive innovation, making it easier to find the best person for the job: by making voluntary and autonomous contributions to their partnerships, they are more creative and successful.
Lego’s Mindstorm project, for example, helped the company engage its customers in developing the company’s new kits and was a sales success.
Each customer can help by submitting ideas of assemblies, parts, and features and with each new thing created, the perceived value of Mindstorm kits by customers increases.
When the customer participates in product design, he even becomes more likely to pay more for the product.
WikiWorld… The Global Impact
Global collaboration is no longer limited to the creation of intellectual property but has evolved into a culture in itself, powered by technology.
The digital age has changed the way people think and the way society as whole works.
The generation of digital natives who grew up in the midst of the constantly developing technology, called by the authors of NET generation, has its unique values, greatly valuing the co-creation of content.
This same generation also has difficulties of accepting the authority and values qualities like speed, transparency and the ludic.
This generation is extremely technically proficient and uses digital platforms as private spaces for self-expression outside the physical world.
Global companies also use mass collaboration to produce goods, involving specialist partners for each stage of the production process.
In this way, the end product is the sum of the many independent parts at work. The possibilities for development and creation are unlimited with mass collaboration.
The wiki model has become more than just a collaborative platform, but the culture of an entire generation that lives plugged into their keyboards co-creating content and media with their friends.
Enjoy the Full Summary
Key Lessons from “Wikinomics”
1. Understand Wikinomics
2. Four Basic Principles of Wikinomics
3. Ideagoras and their meaning
“Wikinomics” is the single letter word combined with two terms: “wiki” (that represents something being done quickly and fast) and “economics,” as such Wikinomics represent a term of quick interaction.
These interactions are made possible by the digital opportunities that we’re able to take advantage of in today’s society. “Old-fashioned ” traditional businesses still maintain and keep unnecessary and evident boundaries.
These organizational barriers are backed up with a tightly controlled economic captivity of limited information that flows in and out.
If you as a company implement Anthony Williams and Don Tapscott’s principles and norms, all shareholders will notice an instant “freedom” change, that would indicate long-term success.
Four Basic Principles of Wikinomics
The four primary principles that forge Wikinomics are: “Open communication, peering, sharing of information and globalization.”
Openness or Open Communication refers to inciting open-society mentality with freedom of speech in a transparent, clear and concise way in favor of eliminating any organization boundaries that may occur among the shareholders.
Sharing of Information as the names tell us indicates an easy, fast and limitless way of accessing all sorts of data.
“Peering” is an integral part of open society. It illustrates business and organizational interactions among the employees to be held collaboratively, not hierarchically.
Globalization makes us aware of the fact that overseas competition and partnerships are going to occur as soon as any company decides to infiltrate its product to the global market.
Ideagoras and their meaning
In ancient times, people used to meet in places called agoras (today’s marketplace), where philosophers gathered and taught the people on different subjects.
Today’s online world shares the same idea as Ideagoras back then, Modern Ideagora represents something similar to a virtual “marketplace of ideas, financial solutions and concepts.
The Modern Ideagora concept is still in the process of development, yet solid and visible examples are present in every corner.
As an example we would take the case where: Approximately 100,000 Scientists from 175 countries are assembled in one InnoCentive Service where they can share ideas, information, data and ask questions.
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“Wikinomics” Quotes“Peering succeeds because it leverages self-organization—a style of production that works more effectively than hierarchical management for certain tasks.” Click To Tweet Increasingly, we are all wittingly and unwittingly co-conspirators in building one massively sophisticated computer. Click To Tweet All one needs is a computer, a network connection, and a bright spark of initiative and creativity to join the economy. Click To Tweet The new web is about verbs not nouns Click To Tweet
Our Critical Review
In “Wikinomics” the authors try to illustrate their narrative by presenting examples of companies and projects that have succeeded by using group collaboration.
Although various examples are cited, which are credible and serve their purpose, the authors use an authoritative tone to present them, which may put some readers off.
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