Crowdsourcing in Business: Contemporary Perspectives and Future Challenges - by Kevin Maier (Hardcover)

About the Book

Crowdsourcing in business involves leveraging the collective intelligence and skills of a large group of people, often sourced from an online community, to accomplish tasks traditionally performed by employees or contractors. This approach harnesses the power of the crowd to generate ideas, solve problems, and drive innovation, offering businesses a cost-effective and diverse resource pool. One prominent example of crowdsourcing is in product development, where companies invite customers to submit designs or vote on new products. This not only fosters customer engagement but also ensures that the end products align closely with market demand. Crowdsourcing platforms exemplify its application in fundraising, allowing entrepreneurs to validate and fund their ideas directly through public support. Moreover, crowdsourcing can enhance business processes such as data analysis, content creation, and market research. By tapping into the crowd's expertise, businesses can achieve quicker and often higher quality outcomes. Managing crowdsourced projects requires clear communication, effective moderation, and strategies to ensure data privacy and intellectual property rights. This book presents the complex subject of crowdsourcing in the most comprehensible and easy to understand language. While understanding the long-term perspectives of the topics, the book makes an effort in highlighting their impact as a modern tool for the growth of the discipline. For someone with an interest and eye for detail, this book covers the most significant topics in the field of crowdsourcing.

Book Synopsis

Crowdsourcing in business involves leveraging the collective intelligence and skills of a large group of people, often sourced from an online community, to accomplish tasks traditionally performed by employees or contractors. This approach harnesses the power of the crowd to generate ideas, solve problems, and drive innovation, offering businesses a cost-effective and diverse resource pool. One prominent example of crowdsourcing is in product development, where companies invite customers to submit designs or vote on new products. This not only fosters customer engagement but also ensures that the end products align closely with market demand. Crowdsourcing platforms exemplify its application in fundraising, allowing entrepreneurs to validate and fund their ideas directly through public support. Moreover, crowdsourcing can enhance business processes such as data analysis, content creation, and market research. By tapping into the crowd's expertise, businesses can achieve quicker and often higher quality outcomes. Managing crowdsourced projects requires clear communication, effective moderation, and strategies to ensure data privacy and intellectual property rights. This book presents the complex subject of crowdsourcing in the most comprehensible and easy to understand language. While understanding the long-term perspectives of the topics, the book makes an effort in highlighting their impact as a modern tool for the growth of the discipline. For someone with an interest and eye for detail, this book covers the most significant topics in the field of crowdsourcing.