Wiki projects have become widely used from sharing shopping experiences to the ultimate online encyclopedia. Something that I’ve been thinking about for a while is whether a business wiki a viable option. A business wiki would be for business professionals to share valuable business process knowledge to help others expand their business while potentially learning from others they would have never expected to learn from? Are executives and employees willing to share information that might potentially increase their competition?
Most of business is run on removing competition. Stifling competition. Killing competition. Keeping everything a secret. Keeping business knowledge scarce. What would it be like if that wasn’t the case? If there was a free flow of informations for companies to learn from past mistakes of other companies?
If your competition goes up, the only option you have is to innovate. Innovate your product. Innovate your marketing. Innovate your customer care. It would force your business to move forward, to always be looking forward.
I’m not suggesting that companies freely share their product ideas. You still closely guard company secrets like the formula for Coca Cola. What I’m talking about are business processes. For example, how to optimize your customer retention. How to improve your shipping department. I believe that the free sharing of this kind of information would spark a tremendous amount of innovation and improvements in businesses that would help revolutionize the way the world does business.