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Crowdsourcing for Device Manufacturers in the Convergent Media Industry

Author

Listed:
  • Jaeheung YOO

    (Department of Internet Business, Kosin University, Republic of Korea)

  • Kibaek LEE

    (Korea Advanced Institute of Science & Technology (KAIST))

  • Munkee CHOI

    (Korea Advanced Institute of Science & Technology (KAIST))

Abstract

Crowdsourcing has been distinguished as an effective means of open innovation for collecting creative ideas from people who have various degrees of expertise and diversity in knowledge. Online platforms enable open innovation using the crowd in an efficient way in terms of cost and time management. Manufacturers in the convergent media industry have recently adopted crowdsourcing activities because understanding the variety of customers' hidden needs and identifying new market opportunities has become more critical to maintain a competitive edge in the market. However, it is difficult to empirically verify the effect of crowdsourcing activities on the market success of these device manufacturers. As such, this paper attempts to validate the effectiveness of crowdsourcing through qualitative studies including a literature review and case study analyses. As a result of the evaluations, several practical guidelines on how to integrate crowdsourcing into new product development processes are suggested for firms.

Suggested Citation

  • Jaeheung YOO & Kibaek LEE & Munkee CHOI, 2013. "Crowdsourcing for Device Manufacturers in the Convergent Media Industry," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(89), pages 73-93, 1st quart.
    • Handle: RePEc:idt:journl:cs8904
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    References listed on IDEAS

    as
    1. Cooper, Robert G., 1990. "Stage-gate systems: A new tool for managing new products," Business Horizons, Elsevier, vol. 33(3), pages 44-54.
    2. Dosi, Giovanni, 1993. "Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change," Research Policy, Elsevier, vol. 22(2), pages 102-103, April.
    3. Baldwin, Carliss & Hienerth, Christoph & von Hippel, Eric, 2006. "How user innovations become commercial products: A theoretical investigation and case study," Research Policy, Elsevier, vol. 35(9), pages 1291-1313, November.
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    Cited by:

    1. Kibaek Lee & Jaeheung Yoo & Munkee Choi & Hangjung Zo & Andrew P Ciganek, 2016. "Does External Knowledge Sourcing Enhance Market Performance? Evidence from the Korean Manufacturing Industry," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-19, December.
    2. Kibaek Lee & Jaeheung Yoo, 2019. "How does open innovation lead competitive advantage? A dynamic capability view perspective," PLOS ONE, Public Library of Science, vol. 14(11), pages 1-18, November.

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    JEL classification:

    • 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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