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4.Crowd sourcing effectively relies on the mobilisation of networks. Critically appraise the role of crowd sourcing in todays rapidly changing global business environments that are based on innovation; and explain why networks facilitate crowdsourcing - Essay Example

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This mostly takes place on online communities as opposed to the traditional source of suppliers and employees. Crowdsourcing can always…
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4.Crowd sourcing effectively relies on the mobilisation of networks. Critically appraise the role of crowd sourcing in todays rapidly changing global business environments that are based on innovation; and explain why networks facilitate crowdsourcing
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Extract of sample "4.Crowd sourcing effectively relies on the mobilisation of networks. Critically appraise the role of crowd sourcing in todays rapidly changing global business environments that are based on innovation; and explain why networks facilitate crowdsourcing"

Download file to see previous pages appraising the role of crowdsourcing in today’s rapidly changing global business environments that are based on innovation; and explaining why networks facilitate crowdsourcing.
There is always a close relationship between numbers and power. However, the power that comes from crowdsourcing does not only come from the numbers. If a business gets a million likes from millions of followers who are not funded then the whole process will be pointless. People can accumulate the power of crowdsourcing to build their extended enterprise only if they apply the same rules that govern their goals and mission. The crowdsourcing should, therefore, must be part of the business’ overall blueprint. Crowdsourcing can also be a way through which a business can get ideas of their followers (Sloane 2011, p. 109). These ideas can then be used for innovation in the company. The power in the big numbers will, thus mean that the business organization will get access to many ideas.
It is undoubtable that crowdsourcing is quickly increasing efforts of business organizations. This is because of the high rate at which the use of crowdsourcing is advancing. When looking at it in terms of innovation, crowdsourcing will be seen as a very promising way of getting ideas that would lead to innovation. Previously business organizations never considered using crowdsourcing for innovation. But considering the high rates of growth and the success stories it is clearly evident that a business organization that will invest in crowdsourcing for innovation will most probably not regret it in the future (Bordegoni & Rizzi 2011, p. 89).
When properly managed, crowdsourcing can be used to complement or replace a business organization’s employees. Through crowdsourcing a business organization can get access to a large number of individuals who are willing to contribute to the success of the business organization either on part-time or volunteer basis. Given that they will do the same things that ...Download file to see next pagesRead More
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