Asked by Angie Brown on Jun 26, 2024
Verified
What is crowdsourcing? What benefits does crowdsourcing provide companies? What are the risks/concerns associated with crowdsourcing? Suppose you want to start your own business, would you consider crowdsourcing (why or why not)? Suppose you are the CEO of a large business, would you consider crowdsourcing (why or why not)?
Crowdsourcing
The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, particularly from an online community.
- Clarify the notion of crowdsourcing, detailing its merits, possible drawbacks, and utility for emerging ventures as well as established corporations.
Verified Answer
RV
Ridhima VermaJun 26, 2024
Final Answer :
When an organization outsources a task to an undefined, generally large group of people in the form of an open call Benefits:
Cheaper and quicker problem resolution
Tap a wider range of talent
Gain insight into customer desires
Rapid design process Risks:
Experts only?
Accuracy
Up-to-date and relevant?
Too many ideas (most may be worthless but still need to evaluate)
Intellectual property (copyrights)
Quality Small versus large depends - small may be prone to use it because it is cheap and won't have a large workforce to develop ideas but could lose the idea (intellectual property); large may want to use it to get customer buy-in but have the resources to do it in-house if they want
When an organization outsources a task to an undefined, generally large group of people in the form of an open call Benefits:
Cheaper and quicker problem resolution
Tap a wider range of talent
Gain insight into customer desires
Rapid design process Risks:
Experts only?
Accuracy
Up-to-date and relevant?
Too many ideas (most may be worthless but still need to evaluate)
Intellectual property (copyrights)
Quality Small versus large depends - small may be prone to use it because it is cheap and won't have a large workforce to develop ideas but could lose the idea (intellectual property); large may want to use it to get customer buy-in but have the resources to do it in-house if they want
Learning Objectives
- Clarify the notion of crowdsourcing, detailing its merits, possible drawbacks, and utility for emerging ventures as well as established corporations.
Related questions
Crowdsourcing Would Be the Fastest Way of Raising Financial Capital ...
What Is Crowdsourcing and When Is It Best Employed for ...
Which of the Following Completes the Sentence,'______ Describes a Process ...
Which of the Following Completes the Sentence '______ Enable Organizations ...
Generating Capital to Start a Business with Small Donations from ...