Working ‘wikily’ is the new buzz word used to describe the utilization of networks and social media tools as a core element of an organization’s strategy (‘wikily’ is based on ‘wiki’: a Web site that allows groups of people to collectively create and edit the Web site and information on it. The best-known use of a wiki is Wikipedia). The effectiveness of this strategy is well evidenced by online giving marketplace Kiva, who has used its technology platform and a web of international partners to help individuals make more than $100 million in microloans. It appears that the merits of increased use of social media lies in the fact that it enables people to communicate more easily with one another, linking with vast numbers of people irrespective of geographical distance, and drastically reduce the costs of communication and participation. Other benefits include expanding society’s ability to access new perspectives by tapping into the ideas and expertise of many individuals (coined “crowdsourcing”), rather than relying only on an elite few.
To read more go to the Stanford Social Innovation website.
