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Crowdsourcing

In: Crowd-Based Business Models

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  • Rajagopal

    (Tecnologico de Monterrey)

Abstract

Crowdsourcing has become a new normal for many customer-centric businesses, which narrows down the distance between companies and customers. Empowering the crowd comprising customers, stakeholders, and potential investors has shown encouraging results in improving the business practices of companies and strengthened their competitive position. This chapter discusses ideation process through crowdsourcing, which helps to serve open innovation platforms and develop customer-centric innovations in a firm. In addition, this chapter comprehensively discusses the role of crowd-based ideation to design and marketing practices, open innovation, social networks, and new product development. This chapter argues that the crowdsourced information guides the manufacturing and business operations through the experiences of stakeholders, peers, gatekeepers, and customers.

Suggested Citation

  • Rajagopal, 2021. "Crowdsourcing," Springer Books, in: Crowd-Based Business Models, chapter 0, pages 3-34, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77083-9_1
    DOI: 10.1007/978-3-030-77083-9_1
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