Class 3

Question 1

Wikinomics - Definitions

Answer 1

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.

Question 2

4 Principles of wikinomics

Answer 2

• 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.

Question 3

How is the world of organized work

changing?

Answer 3

More & more work is being outsourced from

companies to independent suppliers

Question 4

What do you think are the disadvantages

of the wikinomics principle?

Answer 4

Potential disadvantages of wikinomics include
the fact that it might not work and that
advertising your needs probably alerts
competitors to your plans.

Question 5

Company Structure
1. The chain of command (=Hierarchy structure,
Pyramid structure)

Answer 5

Company’s hierarchy of reporting relationships -

from the bottom to the top of an organization, who must answer to whom

Question 6

Company Structure

2. Functional structure

Answer 6

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.

Question 7

Company Structure

3. Flattering hierarchies & delegating responsibility

Answer 7

1. promotes employees involvement through a
   decentralized decision-making process.
2. can benefit smaller organizations by increasing employee empowerment, participation and
   efficiency.

The owners of small firms keep control over their business whereas, managers in larger businesses might delegate decision making & responsibilities
to other people.

Question 8

4. Matrix management

Answer 8

Employees have dual reporting relationships -

generally to both a functional manager and a product manager

Question 9

5. Teams

Answer 9

the composition of an individual team or of a

multi-team system ( no leader interfering with the work).

Question 10

Big company vs small company

Answer 10

Big company:

• National and International reputacion.
• Become more specialized in your work.
• Able to change of department if you have any convenience with current colleagues.
• Able to go and work in a foreign subsidiary.
• Good position in an economic downturn or recession.

Small company:

• Less likely to be affected by a big reorganization, downsizing, merger or takeover.
• Responsible for a variety of differennt tasks.
• Able to see your contribution to the firm.
• More independence and no need of permission from a superior.
• Everybody know each other and the atmosphere is friendlier.