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Crowdsourcing and Crowdfunding in the Manufacturing and Services Sectors

Author

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  • Gad Allon

    (The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania 19104;)

  • Volodymyr Babich

    (McDonough School of Business, Georgetown University, Washington, District of Columbia 20057)

Abstract

In the last few years, we have seen the emergence of two new ways in which firms interact with outside stakeholders, namely crowdsourcing and crowdfunding service providers. In this article, we define crowdsourcing and crowdfunding terms, compare new business models with traditional ones, review the operations management research community’s contribution so far, point out useful frameworks for understanding the phenomena, illuminate promising research paths, and highlight open research questions. We also discuss the parallels between these concepts as well the main differences.

Suggested Citation

  • Gad Allon & Volodymyr Babich, 2020. "Crowdsourcing and Crowdfunding in the Manufacturing and Services Sectors," Manufacturing & Service Operations Management, INFORMS, vol. 22(1), pages 102-112, January.
    • Handle: RePEc:inm:ormsom:v:22:y:2020:i:1:p:102-112
    DOI: 10.1287/msom.2019.0825
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    Cited by:

    1. Li, Liangqiang & Yang, Liang & Zhao, Meng & Liao, Miyan & Cao, Yunzhong, 2022. "Exploring the success determinants of crowdfunding for cultural and creative projects: An empirical study based on signal theory," Technology in Society, Elsevier, vol. 70(C).
    2. Choi, Tsan-Ming & Ouyang, Xu, 2021. "Initial coin offerings for blockchain based product provenance authentication platforms," International Journal of Production Economics, Elsevier, vol. 233(C).
    3. Knauf, Jakob & Wüstenhagen, Rolf, 2023. "Crowdsourcing social acceptance: Why, when and how project developers offer citizens to co-invest in wind power," Energy Policy, Elsevier, vol. 173(C).
    4. Maria De‐Arteaga & Stefan Feuerriegel & Maytal Saar‐Tsechansky, 2022. "Algorithmic fairness in business analytics: Directions for research and practice," Production and Operations Management, Production and Operations Management Society, vol. 31(10), pages 3749-3770, October.
    5. Laura Grassi & Simone Fantaccini, 2022. "An overview of Fintech applications to solve the puzzle of health care funding: state-of-the-art in medical crowdfunding," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    6. Sun, Yanhong & Sheng, Yiyun & Yan, Shuai & Zhang, Wei, 2023. "Pricing strategies in reward-based crowdfunding: Whether to introduce price guarantee?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 170(C).
    7. Hou, Ting & Zhang, Wen, 2021. "Optimal two-stage elimination contests for crowdsourcing," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 145(C).
    8. Damianos P. Sakas & Ioannis Dimitrios G. Kamperos & Panagiotis Reklitis, 2021. "Estimating Risk Perception Effects on Courier Companies’ Online Customer Behavior during a Crisis, Using Crowdsourced Data," Sustainability, MDPI, vol. 13(22), pages 1-26, November.
    9. Longyuan Du & Ming Hu & Jiahua Wu, 2022. "Contingent stimulus in crowdfunding," Production and Operations Management, Production and Operations Management Society, vol. 31(9), pages 3543-3558, September.
    10. Yu-Kai Lin & Arun Rai & Yukun Yang, 2022. "Information Control for Creator Brand Management in Subscription-Based Crowdfunding," Information Systems Research, INFORMS, vol. 33(3), pages 846-866, September.
    11. Zhang, Juan & Huang, Jian, 2020. "Deceptive advertising in a crowdfunding market," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 135(C).
    12. Jingchuan Pu, 2022. "Do Online Communities Improve Job Performance in the Geographically Dispersed Organization?," Production and Operations Management, Production and Operations Management Society, vol. 31(2), pages 403-421, February.
    13. Jesús Mauricio Flórez-Parra & Gracia Rubio Martín & Carmen Rapallo Serrano, 2020. "Corporate Social Responsibility and Crowdfunding: The Experience of the Colectual Platform in Empowering Economic and Sustainable Projects," Sustainability, MDPI, vol. 12(13), pages 1-20, June.
    14. Skare, Marinko & Gavurova, Beata & Polishchuk, Volodymyr, 2023. "A decision-making support model for financing start-up projects by venture capital funds on a crowdfunding platform," Journal of Business Research, Elsevier, vol. 158(C).
    15. Rohit Aggarwal & Michael J Lee & Braxton Osting & Harpreet Singh, 2021. "Improving Funding Operations of Equity‐based Crowdfunding Platforms," Production and Operations Management, Production and Operations Management Society, vol. 30(11), pages 4121-4139, November.
    16. Alexandra Mora-Cruz & Pedro R. Palos-Sanchez, 2023. "Crowdfunding platforms: a systematic literature review and a bibliometric analysis," International Entrepreneurship and Management Journal, Springer, vol. 19(3), pages 1257-1288, September.
    17. Damianos P. Sakas & Ioannis Dimitrios G. Kamperos & Dimitrios P. Reklitis & Nikolaos T. Giannakopoulos & Dimitrios K. Nasiopoulos & Marina C. Terzi & Nikos Kanellos, 2022. "The Effectiveness of Centralized Payment Network Advertisements on Digital Branding during the COVID-19 Crisis," Sustainability, MDPI, vol. 14(6), pages 1-23, March.
    18. Jiao, Yuanyuan & Wu, Yepeng & Lu, Steven, 2021. "The role of crowdsourcing in product design: The moderating effect of user expertise and network connectivity," Technology in Society, Elsevier, vol. 64(C).
    19. Shengsheng Xiao & Yi‐Chun (Chad) Ho & Hai Che, 2021. "Building the Momentum: Information Disclosure and Herding in Online Crowdfunding," Production and Operations Management, Production and Operations Management Society, vol. 30(9), pages 3213-3230, September.
    20. Zhanwen Shi & Erbao Cao & Kai Nie, 2023. "Capacity pooling games in crowdsourcing services," Electronic Commerce Research, Springer, vol. 23(2), pages 1007-1047, June.
    21. Damianos P. Sakas & Dimitrios P. Reklitis, 2021. "The Impact of Organic Traffic of Crowdsourcing Platforms on Airlines’ Website Traffic and User Engagement," Sustainability, MDPI, vol. 13(16), pages 1-22, August.
    22. Xiahua Wei & Ming Fan & Weijia You & Yong Tan, 2021. "An Empirical Study of the Dynamic and Differential Effects of Prefunding," Production and Operations Management, Production and Operations Management Society, vol. 30(5), pages 1331-1349, May.
    23. Peter Konhäusner, 2021. "Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria," JRFM, MDPI, vol. 14(2), pages 1-21, February.

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