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Social Media Trends - Web 2.0: Business Models -

Social Media Trends - Web 2.0: Business Models -. Clinton E. White, Jr Professor of Accounting & MIS Lerner College of B&E University of Delaware. Goldcorp. Goldcorp, Inc : Primary mine: Red Lake, Ontario

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Social Media Trends - Web 2.0: Business Models -

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  1. Social Media Trends - Web 2.0: Business Models - Clinton E. White, Jr Professor of Accounting & MIS Lerner College of B&E University of Delaware

  2. Goldcorp • Goldcorp, Inc: • Primary mine: Red Lake, Ontario • Having trouble finding new deposits, exploration costs sky rocketing, trouble getting new financing • New CEO decided to try an open source/ peering business model:

  3. Peering & Open source software • Linux & Apache • 1991 – Linux posted to a bulletin board for collaborative development • 1994/95 – Apache released for collaborative development • 1998 – IBM joins the Open Source Software movement (Apache & Linux) • 1999 – the Apache Software Foundation is created (nonprofit corporation)

  4. Open Source & Business • IBM • “Get the culture & processes right” • Took on the unglamorous tasks of code testing, defect management, & writing documentation • Adopted an open, transparent, collaborative work ethic

  5. Linux & Apache • IBM • Sony • Motorola • Nokia • Phillips • BMW • Google • Yahoo • And hundreds of others dedicate resources to and reap serious revenues from Linux & Apache goods and services

  6. Encyclopedias • How have business models changed in publishing encyclopedias? • Encyclopedia Britannica (1768) • Printed volumes & large sales force (mid 90’s)

  7. Peering in Business • How can peer production work in business?

  8. Key Benefits • What are some key benefits of peer production in business?

  9. ?Examples?

  10. Peering in Accounting • Accounting principles

  11. Open Standards • The Mobile World Congress • Problem: proprietary mobile applications • Apple … Google … Nokia … Microsoft … • 2010: $4.2 billion market for mobile apps.

  12. Ideagoras in Business • What must businesses do to take advantage of ideagoras?

  13. Prosumers in Business • Pipes (Yahoo!) • Open Mashup Alliance (OMA)

  14. Hack Days • Yahoo!s Open Strategy • Outside developers & programmers • Create Web applications using the latest & greatest tools & APIs • 2005 – First Yahoo! Hack Day • 2006 – First Yahoo! University Hack Day • 2008 - Hack U – week long events at various campuses in U.S and Canada • 2010 – Music Hack Day • JASONLoops - real-time music collaboration browser • 2011 – Civic Hack Day - Baltimore • World-wide events • “Over the air” … “MashPit” …

  15. Balance & Business • What is the right balance between proprietary & open information?

  16. Open Platforms • What is the business reason for opening up your platforms for participation?

  17. Open Platforms • Open platforms for business: • Google, Amazon, & eBay • Open software APIs & Web services • Web services • Mashup tools • Open source tools

  18. Platforms in Accounting

  19. P&G • P&G has institutionalized innovation, ideagoras, & collaborative business models • Director of Innovation & Knowledge Mgmt.

  20. IBM’s Innovation • InnovationJam • Brainstorming sessions involving employees, clients, business-partners, and their families • Moderated online discussions involving over 100,000 participants • IBM has now earmarked $100 million to further develop the ideas generated • Global Innovation Outlook • Collaboration for building a smart planet

  21. E&Y • E&Y Online • Intellinex

  22. University of Wisconsin • DOD airless tires project: • Involves scientists & researchers from Univ of Wisconsin & Univ of West Virginia, engineers from Resillient Technologies, and DOD

  23. The Dark Side • What is the dark side of Wikinomics?

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