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Lecture 4

ADM1370 Lecture 5: Lecture 4-ADM1370

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Craig Kuziemsky

Lecture 4-ADM1370 Wikis Wiki • Collectively share and edit a body of knowledge • Ongoing process of creation and collaboration • Knowledge Management –i.e. Wikipedia, Enterprise wikis • Intended to maintain a series of unique documents as their content evolves • No changes can be made to a wiki without creating a record of who made those changes • Reversion to an earlier version is always possible Social Economy – the overall idea • The global economic playing field has been levelled • Competition is worldwide • Few jobs or markets are constrained by geographic boundaries • Successful managers must be able to leverage technology to be successful in this world Organizational/ behavioural impacts • IT broadens the distribution of timely information • Increases the speed of decision- making • Empowers lower-level employees • Increases management span of control • Flattening organizations, more virtual firms • Increasing flexibility Thomas Friedman’s “The World is Flat” stages of Globalization • Globalization 1.0 (from 1492 to 1800) o Focused on countries • Globalization 2.0 (from 1800-2000) o Focused on cities • Globalization 3.0 (from 2000 to the present) o Focused on groups and individuals Impacts of a “flattened world” • Geography in various forms o Physical o Cultural or informational o Limits competition by enabling cost- advantaged relationships between sellers and buyers who are located close to one another • Reduces geographical barriers but does not reduce the need for relationships • Reshapes customer supply relationships into hexagons Core elements and social media strategy • Several elements o Branding o Content o Curation o Channels o Campaign o Influencers • Broadly categorize them as content, deli
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