It is not possible nowadays to imagine the Internet without Wikipedia, which is the prime online information source for millions of people. It is undoubtedly one of the most popular websites in the world and accommodates a crucial number of readers and contributors. Beutler (2014) compares the Wikipedia to “the passion project of a volunteer community committed to developing a universal knowledge base”. Wikipedia has grown to be the sixth most popular website worldwide behind websites such as Google or Yahoo! (500 Global Sites Index, 2013). The infrastructure of Wikipedia enabled the contributors to build the largest and most up to date encyclopaedia in the world. Wilson &Likens (2015) pinpoint the accuracy of the website, which is similar to the traditional reference sources like for instance Encyclopaedia Britannica.
By using different models and concepts, this paper tries to find out the feasible reasons for its ultimate success. Based on the Harvard Business Review Case Study on Wikipedia, the Resource- Based View model is utilized, where the strategic capabilities of the Wikipedia are analysed. Also, this paper argues how Blue Ocean strategy can provide a sound explanation of the apparent strategic success of the most popular online encyclopaedia.
Table of Contents
- Introduction
- Resource Based View Model
- VRIN
- SWOT
- Blue Ocean Strategy
- Differentiation and low cost
- Four-action strategy framework
- The three strategy propositions
- Chaos Theory
Objectives and Key Themes
This paper aims to explore the reasons behind Wikipedia's success by applying established business models and concepts. It analyzes Wikipedia's strategic capabilities using the Resource-Based View (RBV) model and examines how the Blue Ocean Strategy can explain its success in the online encyclopaedia market.
- Application of the Resource-Based View (RBV) model to analyze Wikipedia's competitive advantage.
- Examination of Wikipedia's strategic resources using the VRIN framework (Value, Rarity, Inimitability, Non-substitutability).
- Assessment of Wikipedia's strengths and weaknesses using a SWOT analysis.
- Exploration of how Wikipedia exemplifies the Blue Ocean Strategy.
- Analysis of the factors contributing to Wikipedia's unique position in the online information landscape.
Chapter Summaries
Introduction: This introductory chapter sets the stage by highlighting Wikipedia's immense popularity and global impact as a primary online information source. It emphasizes Wikipedia's unique characteristic as a volunteer-driven project committed to creating a free and accessible knowledge base. The chapter introduces the paper's objective to analyze Wikipedia's success using the Resource-Based View model and the Blue Ocean Strategy, laying the groundwork for the subsequent analysis.
Resource Based View Model: This chapter delves into the Resource-Based View (RBV) model, explaining its core principles: valuable, rare, inimitable, and non-substitutable (VRIN) resources as drivers of competitive advantage. The chapter applies the RBV model to Wikipedia, exploring its strategic capabilities and how these resources contribute to its success in the online encyclopedia market. The analysis lays the foundation for a deeper understanding of Wikipedia's competitive dynamics.
Blue Ocean Strategy: This chapter explores how Wikipedia's strategic success can be understood through the lens of the Blue Ocean Strategy. It examines how Wikipedia differentiates itself while simultaneously pursuing a low-cost approach. This section analyzes the four-action framework and three strategy propositions of the Blue Ocean Strategy, connecting them to Wikipedia's actions and outcomes. The discussion emphasizes the unique market position created by Wikipedia through its innovative approach.
Keywords
Wikipedia, Resource-Based View, VRIN, SWOT, Blue Ocean Strategy, Competitive Advantage, Online Encyclopedia, Free Knowledge, Collaborative Production, Digital Platform
Frequently Asked Questions: Analysis of Wikipedia's Success
What is the overall purpose of this document?
This document provides a comprehensive overview of an academic paper analyzing Wikipedia's success. It includes the table of contents, objectives, key themes, chapter summaries, and keywords. The analysis uses established business models like the Resource-Based View (RBV) and the Blue Ocean Strategy.
What models are used to analyze Wikipedia's success?
The paper primarily uses two models: the Resource-Based View (RBV) model and the Blue Ocean Strategy. The RBV model focuses on analyzing Wikipedia's valuable, rare, inimitable, and non-substitutable (VRIN) resources. The Blue Ocean Strategy framework examines how Wikipedia created a unique market space by combining differentiation and low cost.
How does the Resource-Based View (RBV) model apply to Wikipedia?
The RBV analysis examines Wikipedia's strategic resources, identifying what makes them valuable, rare, difficult to imitate, and non-substitutable. This analysis aims to understand the sources of Wikipedia's competitive advantage in the online encyclopedia market.
What aspects of the Blue Ocean Strategy are relevant to Wikipedia?
The analysis explores how Wikipedia embodies the principles of the Blue Ocean Strategy. This includes examining how Wikipedia achieved differentiation (e.g., free access, collaborative editing) while simultaneously maintaining a low-cost structure (e.g., relying on volunteer contributors).
What are the key themes explored in the paper?
Key themes include the application of the RBV model, the VRIN framework, SWOT analysis, the Blue Ocean Strategy, and an examination of Wikipedia's unique position in the online information landscape. The analysis explores the factors contributing to Wikipedia's success as a collaborative, volunteer-driven, free online encyclopedia.
What are the key chapters and their summaries?
The document provides summaries for an introduction chapter, a chapter on the Resource-Based View Model, a chapter on the Blue Ocean Strategy. The introduction sets the context, highlighting Wikipedia's impact and the purpose of the study. The RBV chapter details the model and its application to Wikipedia. The Blue Ocean Strategy chapter explores how Wikipedia fits the model and created its unique market position.
What keywords describe the paper's content?
Keywords include Wikipedia, Resource-Based View, VRIN, SWOT, Blue Ocean Strategy, Competitive Advantage, Online Encyclopedia, Free Knowledge, Collaborative Production, and Digital Platform.
What is the overall conclusion of the analysis (as implied)?
The implied conclusion is that Wikipedia's success can be explained through a combination of its unique resources (analyzed through the RBV framework) and its innovative approach to market creation (as explained by the Blue Ocean Strategy). The analysis likely demonstrates how Wikipedia's collaborative and free nature are significant factors in its competitive advantage.
- Quote paper
- MBA graduate Kat Szydlowska (Author), 2017, The Success of Wikipedia. Models and Concepts, Munich, GRIN Verlag, https://www.grin.com/document/421552
