Executive Summary
With the rapid development of Internet, a new business model of crowdsourcing is emerging. It is a development demand research of organizations through Internet. Companies could seek for solutions through it with the help of numerous solvers. Crowdsourcing platform is an intermediary which provides a place for seekers to ask for solvers’ help. This report will mainly discuss the target market of crowdsourcing platforms and demonstrate value proposition provided to solvers and seekers. Then the report gives an illustration of Zhihui Island which is a design competition crowdsourcing platform and analyzes it using the business model canvas. In the end, opportunities and threats are stated.
Introduction
Crowdsourcing is a terminology which is put forward by Jeff Howe, journalist of Wired Magazine in 2006. It means organizations or institutions outsource their work tasks which are fulfilled by staff in the past to unspecified mass network (usually large scale) voluntarily (Howe, 2006). Through network, organizations investigate and survey development requirement of products starting with customers’ actual experience of using. Usually, crowdsourcing tasks are assumed by individual, however, when involving in tasks which need multiple people collaborate, crowdsourcing could also be realized by open source individual (Brabham, 2009). Crowdsourcing platform is a place where organizations or groups could use it to hold a test, search for a recent news focus and as on. It is used to describe a new business model that organizations use Internet to assign jobs, find creativity or solve technical questions. There are different kinds of outsourcing platform in the world. This report will give an analysis of various types of c...
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References:
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Workers are also not being used to their full potential as the majority of the IT budget is going towards them to maintain the current system that they have in place. Carr determines that these problems can be fixed with relative ease by combining three different technologies, Web services, virtualization, and grid computing. The combination will allow for less technology to be wasted and processing power to be used to its full capacity. He tells the reader, this is what the individual will have to do to advance the information technology environment to its fullest potential and continues by listing examples of some of the possible corporations and sources from where this individual could come from, including big computing hardware contributors, information technology hosting operations, an internet extraordinaire and new start up innovators. He concludes the article by pointing out that as dubious as this may be, many other innovations similar to this started the same way and people should not fear to take action on this opportunity, as it will better humanity. I believe that the article provides some good points as it shows us that the
The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations is a book written by James Surowiecki that was first published in 2005. In it, Surowiecki argues that, thanks to the aggregation of information present in groups, the results of a group lead to better decisions than could have been made by any one of the group members, individually. Surowiecki uses multiple examples across many fields and domains to prove his theory. Ranging from psychology to economics, Surowiecki gives evidence to the highly functional aspect of groups and how, given the right combination of factors, a group will always be more successful in its results than individuals. To understand what it takes for a crowd to be wise, we must first understand what defines a crowd – Surowiecki says that a crowd is “really any group of people who can act collectively to make decisions and solve problems”. One of the very first anecdotes given in the book relates Francis Galton’s bewilderment at a crowd’s ability, once their scores were averaged, to more accurately guess the weight of a butchered ox than a common individual. This anecdote proves the thesis that “the idea of the wisdom of crowds is not that a group will always give you the right answer, but that it will consistently come up with a better answer than any individual can provide.”
One of the problems today is that America’s distrust for their leaders because they view them as ineffectual and removed. There is a need in America to democratize the public planning process and decision-making process. Many times projects, developments, and policy decisions are made without significant public input and participation. This often leads to m...
Crowdsourcing involves collecting ideas from social events such as fundraising, gatherings, for the purpose of change or innovation. Pisano, P., Pironti, M. & Rieple, A. (2015) believe companies target unorganized settings for crowdsourcing. In the medical field, conferences are often held where new ideas, technologies and strategies and shared among colleagues. These conferences range from $200.00 to $2,000.00 depending on the complexity of the topic.
I think that our course project should address a strong pain point of the market for which customers will be highly interested. The technology and the business model must create barriers for others to copy. The team and the people that we know (our network) are certainly crucial for the success of the project as at this point especially; it is our core means for the success of our goals. The market should have a good size and significant growth prospects but since our idea is dealing with high technology and social media, this is likely a criterion for which we suffice.
Tomeski, Edward, Lazarus, Harold, People-Oriented Computer Systems: The Computer in Crisis, New York: Van Nostrand Reinhold Co, 1975
Within these eight stages, problems can be framed, the right questions can be asked, more idea can be created, and the best answers can be chosen. The steps aren’t linear; they occur simultaneously and can be repeated. Although design is always subject to personal taste, design thinkers share a common set of value the drive innovation: these value are meanly creativity, ambidextrous thinking, teamwork, and user focus curiosity (Owen, 1993).
Social computing has to do with computations carried out by groups of people for instance in collaborative filtering, online auctions, prediction markets and reputation systems.
... Daniel Veit. "More than Fun and Money. Worker Motivation in Crowdsourcing - A Study on Mechanical Turk." Proceedings of the Seventh Americas Conference on Information Systems (2011): 1-11. Web.
Internet is a free platform where everyone can launch or release whatever they want to that market. With such characteristic of the Internet, the products, services or creations may, in a se...
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O’Faircheallaigh, C., 2010. Public participation and environmental impact assessment: purposes, implications, and lessons for public policy making. Environmental Impact Assessment Review, 30 (1),
“The Internet is becoming the town square for the global village of tomorrow.” Bill Gates. The Internet is vast and is just getting bigger. It has its own community that is open to the public. The Internet is becoming a platform all on its own. It is a stepping-stone in a direction that is unknown. The Internet has become so vast that there are now different versions of it. The different versions of the web are Web 1.0, Web 2.0, the main focus of this paper, and Web 3.0. Web 1.0 is all about sharing information. It is very bland and just gets the point across of what was needed. This how the Internet had started. Web 2.0 is sharing information with interaction. To me this means social media in some fashion. The website that was accessed has a way of interacting with the users whether it be through comments or giveaways on the web. Web 3.0 is the server interacting with the individual on a particular website. Amazon is the best example of Web 3.0 because it gives recommendations based on items that have been searched. “Among American adults 87% use the web, 68% connect...
3. F. Cornelli, S. De Capitani Di Vimercati, S. Paraboschi, and S. Samarati. Choosing reputable servants in a P2P network. In Proceedings of the 11th World Wide Web Conference, May 2002.
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