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Reducing risk in the optimization of business processes through crowdsourcing

Author

Listed:
  • Todor Branzov
  • Krassimira Ivanova

Abstract

An original approach is described that can be used in the analysis and assessment of the applicability of the concept of crowdsourcing during the optimization of business processes in organizations. The approach is based on the application of standardized techniques in conceptual modeling used in computer science and on the business process modeling used in management science. The main objective is to reduce the specific risks associated with the lack of a universally accepted universal definition and classification of the different variants of the phenomenon of crowdsourcing. The main elements of the approach and the theoretical foundations on which it is based are presented, and three examples are given in order to illustrate its application.

Suggested Citation

  • Todor Branzov & Krassimira Ivanova, 2019. "Reducing risk in the optimization of business processes through crowdsourcing," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 51-66.
    • Handle: RePEc:bas:econth:y:2019:i:3:p:51-66
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    References listed on IDEAS

    as
    1. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
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    More about this item

    JEL classification:

    • D26 - Microeconomics - - Production and Organizations - - - Crowd-Based Firms
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation

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