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A recipe for success: Crowdsourcing, online social networks, and their impact on organizational performance

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  • Palacios-Marqués, Daniel
  • Gallego-Nicholls, José Fernando
  • Guijarro-García, María

Abstract

In the global and turbulent world we live in, companies must differentiate themselves by creating a competitive advantage through constant innovation to adapt to the changing environment. A firm's competitive advantage is permanently being contested. Thus, preserving this competitive advantage is critical. Consequently, firms can innovate to survive and thrive through two mechanisms: crowdsourcing and online social networks. However, the interrelationships between these mechanisms are poorly understood and need further testing. Online social networks and crowdsourcing involve individuals who are encouraged to share ideas, driving innovation through knowledge provision. This study aims to determine the importance of online social networks and crowdsourcing as elements that favor organizational learning processes to promote organizational development. This paper presents a set of hypotheses on the relationships between these variables. The findings suggest that online social networks, crowdsourcing, and organizational performance are correlated. Therefore, both of the research hypotheses are supported. Online social networks are shown to play an important role in companies by positively influencing the performance of organizations. Similarly, crowdsourcing is shown to benefit organizational performance.

Suggested Citation

  • Palacios-Marqués, Daniel & Gallego-Nicholls, José Fernando & Guijarro-García, María, 2021. "A recipe for success: Crowdsourcing, online social networks, and their impact on organizational performance," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    • Handle: RePEc:eee:tefoso:v:165:y:2021:i:c:s0040162520313925
    DOI: 10.1016/j.techfore.2020.120566
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    5. Allal-Chérif, Oihab & Yela Aránega, Alba & Castaño Sánchez, Rafael, 2021. "Intelligent recruitment: How to identify, select, and retain talents from around the world using artificial intelligence," Technological Forecasting and Social Change, Elsevier, vol. 169(C).

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