Marketing in a Wikinomics World, a podcast with Don Tapscott
I love my iPod, but apparently so do scores of tenacious hackers. These rogues have created a number of iPod hacks even though Apple hasn’t opened its architecture. The iPod’s closed architecture is good at keeping competitors at bay. But it also limits what users can ultimately do with the device.
But here’s the real question: Is a business model that locks in customers and discourages user innovation genuinely sustainable? According to my instincts, and the principles of Wikinomics, I say no.
To explore this further, I conducted an interview with Don Tapscott, co-author of Wikinomics. Don helped me understand more about this emerging economy and what role marketing needs to play in it to be successful! Enjoy …
Marketing in a Wikinomics World, a podcast with Don Tapscott
About Don
Don Tapscott is a speaker, author and consultant based in Toronto. He specializes in business strategy and organizational transformation. Don is Chief Executive of New Paradigm, which he founded in 1993, and Adjunct Professor of Management, Joseph L. Rotman School of Management, University of Toronto. He holds a B.Sc. in Psychology and Statistics, and an M.Ed. specializing in Research Methodology. He also holds two honorary Doctor of Laws (honoris causa) granted by the University of Alberta in 2001, and Trent University in 2006. Don lives in Toronto, Ontario with his wife, Ana Lopes, and his two children: Nicole Tapscott and Alex Tapscott.
Great podcast. In Don’s examples, companies like P&G were very successful in using outside talent and group-think to build powerful products. Products that ultimately benefit the very consumers that helped create them.
An important question to ask, though, is with the state of the economy as traditional businesses find themselves competing for the same talent. For instance, take Coke and Pepsi. Both companies are looking for the next big product. If they are both calling on the same pool of external resources to develop it, what will the consumer get in the end? Two identical products? Does it all come down to who can execute most effectively? In other words, Don’s future market is full of “companies” that do not have 4 walls. They are merely facilitators of market demand. While in one-off situations, I can see how this would be very effective. But if every company did it this way, how could they compete?
The idea that a company is as valuable as its people would no longer hold true. A company would be valued by its network of external contributors. Interesting indeed.
Great point and insight into the future “war for talent”
thanks for the comment Brad
pd
The great bastion of talent is in the sharing via podcasts or any other networking electronic media. It also means that the company or the university of the future need not have a brick and mortar appearance. Creativity and adaptation to changes due to competitive pressures of capitalism from Asian and Eastern European countries will further enhance this creativity. What really matters is the reduction of pollution in the environment and atmosphere. If this is achieved the future of mankind will be greatly improved and the threshold of talent and new inventions to improve standards of living will be pushed further.
Dr Tay Jon Jon
Market Research Manager
Facilitator of International Marketing
tjj8@cni-global.com