Wikinomics

4 .Coopetition or Coopertition:


• First, what does “competition” mean in economics? How does this compare or contrast with the common use of “competition”, in sports and other fields.

Competition in business is a rivalry of two or more businesses that target the same customers. Business competition tends to result in increased efficiency as firms attempt to reduce expenses. On thenegative side, competition may result in duplication of efforts.

In contrast, competition in other field is a testing of the intelligence, strength, speed, or some other ability of two or more people. Furthermore, A tournament is a competition involving a relatively large number of competitors, all participating in a sport or game. 1



• How is coopetition o coopertition defined? Give someconcrete examples of what it has looked like so far in practice.

1. Cooperation between competing companies. Businesses that engage in both competition and cooperation are said to be in coopetition. Certain businesses gain an advantage by using a judicious mixture of cooperation with suppliers, customers and firms producing complementary or related products.

Investopedia Says:

2. Coopetitionis thought to be a good business tactic between two businesses that can lead to expansion of the market and the formation of new business relationships. Coopetition is a form of strategic alliance and is common particularly in the computer industry between software and hardware firms. In this field, coopetition means settling on standards and developing products that compete with each other usingthose same standards.2 Nokia, Samsung, Sony Ericsson , LGand i-mobile are good examples of coopetition.3

• What problem was it created to solve, or what needs was is created to satisfy?

The competition was created to operationalize the different knowledge, skills and values ​​so integral to the different interactions with human beings for life in the personal, social and laboral.lacompetition is the best strategy that allows companies to innovate their servivio or products.

1. http://business.yourdictionary.com/competition

2. http://www.answers.com/topic/coopetition

3. http://es.wikipedia.org/wiki/Competición_(deporte)

4. http://wiki.answers.com/Q/Any_example_of_company_that_is_doing_the_monopolistic_competition_in_the_market




6. Wikinomics/Macrowikinomics

• Quote at least three definitions, and then write your definition in your own words.

Experts believe that Wikinomics has the power to be bigger than industrial revolution or even the invention of computer. Soon, there will be huge world companies emerging and the current day Multinational Companies (MNCs) and large-scale corporations will have to re-think and adopt wikinomics ways.1

Wikinomics describes a modern economic structure that will soon become the way of the business world, which is completely based on mass collaborations, sharing and transparency. Shunning the traditional style of working. 2

Wikinomics is a term that describes the effects of extensive collaboration and user-participation on the marketplace and corporate world.3 As well as others expertsdescribe wikinomics as a change between businesses and markets because of much greater involvement of customers and users directly with products or companies. This is a combination of the words 'wiki' and 'economics. 4

Furthermore, according to Tapscott, Wikinomics is based on four ideas: Openness, Peering, Sharing, and Acting Globally. The use of mass collaboration in a business environment, inrecent history, can be seen as an extension of the trend in business to outsource: externalize formerly internal business functions to other business entities. The difference however is that instead of an organized business body brought into being specifically for a unique function, mass collaboration relies on free individual agents to come together and cooperate to improve a given operation or...