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Business models innovation based on crowds: a comparative study

Author

Listed:
  • Kubiak Katarzyna

    (Institute of Economics, Polish Academy of Sciences, Warsaw, Poland)

  • Wziątek-Kubiak Anna

    (Bloomberg L.P., London, United Kingdom)

Abstract

With arrival of information technology, interaction between consumers and companies become more common. It has implications for the way business function and for business models. The aim of the paper is to analyze crowdsourcing and compare crowdsourcing business models of three product and content crowdsourcing companies, their common features and differences. These companies differ considerably in many respects. The business model framework used is based on Osterwalder and Pigneur’s approach. The paper shows various consequences of using crowds. It shows that having crowds as a key asset implies a necessity to take care of the crowd and network effect before launching a crowdsourcing initiative. The paper gives those involved in crowdsourcing insight about factors crucial for their company and points to where they need to concentrate their resources.

Suggested Citation

  • Kubiak Katarzyna & Wziątek-Kubiak Anna, 2019. "Business models innovation based on crowds: a comparative study," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 55(2), pages 127-147, June.
    • Handle: RePEc:vrs:ijomae:v:55:y:2019:i:2:p:127-147:n:4
    DOI: 10.2478/ijme-2019-0010
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    open business model innovation; crowdsourcing; crowdsourcing companies;
    All these keywords.

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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