Social Media Trends - Web 2.0: Business Models -

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Social Media Trends - Web 2.0 Business Models -

• Clinton E. White, Jr
• Professor of Accounting MIS
• Lerner College of BE
• University of Delaware

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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

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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)

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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

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Encyclopedias

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

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Peering in Business

• How can peer production work in business?

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Key Benefits

• What are some key benefits of peer production in
  business?

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?Examples?
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Peering in Accounting

• Accounting principles

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Open Standards

• The Mobile World Congress
• Problem proprietary mobile applications
• Apple Google Nokia Microsoft
• 2010 4.2 billion market for mobile apps.

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Ideagoras in Business

• What must businesses do to take advantage of
  ideagoras?

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Prosumers in Business

• Pipes (Yahoo!)
• Open Mashup Alliance (OMA)

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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

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Balance Business

• What is the right balance between proprietary
  open information?

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Open Platforms

• What is the business reason for opening up your
  platforms for participation?

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Open Platforms

• Open platforms for business
• Google, Amazon, eBay
• Open software APIs Web services
• Web services
• Mashup tools
• Open source tools

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Platforms in Accounting
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PG

• PG has institutionalized innovation, ideagoras,
  collaborative business models
• Director of Innovation Knowledge Mgmt.

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IBMs 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

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EY

• EY Online
• Intellinex

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University of Wisconsin

• DOD airless tires project
• Involves scientists researchers from Univ of
  Wisconsin Univ of West Virginia, engineers from
  Resillient Technologies, and DOD

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The Dark Side

• What is the dark side of Wikinomics?