Crowdsourcing a strategy to source knowledge for innovation and development

CROWDSOURCING:A STRATEGY TO SOURCE KNOWLEDGE FOR INNOVATION AND DEVELOPMENT

BY : PATRICIA AKYEAMPONG

WHAT IS CROWDSOURCING?

EXTERNALISATION OF TACIT KNOWLEDGE

CROWDSOURCING, IDEAS GENERATION STRATEGY

What is Crowdsourcing?

“… a mass collection of ideas from people who are mostly not linked to any specific organization and not related to that particular industry but bring forth ideas to enhance innovation in the business” – Jeff Howard, 2006.

“… engages a global pool of online workers that can be tapped on-demand…better termed as the “Human Cloud”” – Prof. Erran Carmel,2014.

Other terms include:

Collective intelligence

Crowd wisdom

Crowd knowledge

CROWDSOURCING:A STRATEGY FOR INNOVATION AND DEVELOPMENT

an effective vehicle to innovate and network;

a communication tool that close up lapses or gaps in a supply chain;

a strategy that builds a thriving business relationship and facilitates the day-to-day operation ;

a platform that exposes a business for public critiques and ideas generation;

an avenue for a collection of knowledge and innovative ideas from a wide network of fans for ideas generation and development;

CROWDSOURCING PLATFORMS FOR PRODUCT INNOVATION AND DEVELOPMENT

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THREADLESS THREADLESS

CROWDSOURCING: A LOOKOUT?

Research shows that:

crowdsourcing is not always efficient with every products. A product research must first be conducted;

collective knowledge from an empowered group of people can also be generated within the confines of an organization. Companies such as SAP, Infosys, Siemens and McKinsey & Co engages this.

the demographics of the voting area could have a large impact on the interests and participations of the crowd - Laurence Wolf, a Co-Founder and CEO of Brand Honee, a crowdsourcing platform in Australia.

CROWDSOURCING:A STRATEGY TO SOURCE KNOWLEDGE FOR INNOVATION AND DEVELOPMENT

Patricia Akyeampong, [email protected]