Leveraging the Collective Intelligence and Effort of Digital Crowds

October 31, 2015

Read The Full Prompt

In this module we have examined how firms can leverage digital technologies to harness the power of collective intelligence from the crowds to tackle a range of problems such as innovation problems and funding startups. For this assignment you have three options:

1 – Pick one industry where no firms have leveraged crowds, and come up with a crowd-based business model that may potentially transform the industry. Describe how you plan to create and capture value. Explain why the crowd will participate, and why your crowd-based model is better than the current model employed by the incumbents.

2 – Describe a company that is using crowds (external or internal) in an innovative manner. Describe how they incentivize participation and manage the crowd. What are the challenges? Describe how value creation and value capture occur, and the growth potential of this business.

3 – Companies often struggle with crowds as well. Describe failed crowdsourcing efforts and explain how and why the company failed. Given what you have learned in the course, what would you do differently?

Create an approximately 500-750 word post to make your contribution. Please create appropriate tags for your post. Please also respond to and comment on three other posts per module. Feel free to use graphics, data, videos and links to other sites to corroborate your points.

Please prepare a two minute pitch about your blog entry before the class.

Submitted (136)

StackOverflow : Q&A site for programmers
Sabina
Last modified on November 3, 2015 at 3:00 pm
Stack Overflow (SO) is a question and answer site for professional and enthusiast programmers.  It is part of the Stack Exchange community, which is network of question and answer sites. The site has over 40 million monthly unique users, of [...]
Is Crowdsourcing the Future Of Film? Not really
Emilie Valentova
Last modified on November 3, 2015 at 3:00 pm
Hollywood has gone bankrupt several times. Marvel in 1996. MGM in 2010. Relativity Media in 2015. Film technology (cameras, software) gets cheaper and more easily accessible. Great pre-conditions for digital crowds to disrupt the industry. Hold your horses, the chances [...]
How the Crowd Saved LEGO
David
Last modified on November 3, 2015 at 3:00 pm
LEGO soon discovered that their incredible fan base not only contributes to their brand reputation, but could also be used in a very different way: Through crowdsourcing LEGO gets new product ideas directly from children's (and adult's) rooms, where millions [...]
Wikpedia – can the pioneer stay relevant?
FB
Posted on November 1, 2015 at 7:40 am
Wikipedia pioneered collective intelligence online over a decade ago. However, in a changing online world, many question the relevance of Wikipedia going forward.
TripAdvisor and the crowds
Esty
Last modified on October 22, 2015 at 10:51 pm
TripAdvisor utilizes having genuine information about the hotels to bring more readers to the site which in turn, write their reviews as well and the platform grows attracting more hotels to partner with TripAdvisor. Indirect and direct network effects come [...]
Crowdsourcing your Day
DB
Last modified on November 1, 2015 at 5:58 pm
TaskRabbit is a two-sided crowdsourced marketplace model that connects TaskPosters, people who need help completing tasks to Taskers, people who are willing to complete the tasks. How it Works: TaskPoster posts a job and is able to view 3 contractors [...]
Wisdom of Crowds for Rare Diseases: CrowdMed
RFD123
Posted on October 27, 2015 at 1:22 am
A new startup, CrowdMed, seeks to bring the wisdom of crowds to the patient by helping to solve the world’s most difficult, rare, and complex chronic medical cases through online communication, collaboration, and brainstorming.
Finding the Next Unicorn with Product Hunt
David
Last modified on October 31, 2015 at 4:44 pm
Product Hunt is an upvote-based site, similar to Reddit, where community members submit and vote for their favorite new or unknown products, primarily focused on the tech app space.  The list is recreated each day, generating a live-stream of the most [...]
WHY YELP ISN’T RELEVANT + WHAT CAN BE DONE
YSH
Last modified on November 3, 2015 at 3:00 pm
No flies or fictional characters were harmed in the making of this post. All names of cast and crew have been disguised, but our story reflects real events that occurred on October 31st.
Pebble Smartwatch : The Serial Crowdfunded Superstar
MaskOfZorro
Posted on October 31, 2015 at 11:55 am
Pebble is one of the most successful crowdfunded startups. Its Kickstarter campaign provided a host of benefits other than funding. It is for this reason that Pebble returned to Kickstarter for its sequel product, Pebble Time.
Anheuser-Busch: Innovating Beer Through Crowd Sourcing
Drew O.
Last modified on October 30, 2015 at 12:42 pm
Anheuser-Busch InBev (AB InBev) is the world’s largest brewer and commands approximately 25% market share of global beer consumption. AB InBev employs over 150,000 people across the globe and has a portfolio of 200 brands (primarily beer). Despite its large [...]
Can crowdfunding cure cancer?
Yannis
Last modified on October 30, 2015 at 5:10 pm
Despite remarkable scientific progress in recent decades, current funding models for projects in early-stage drug development and climate change have failed. These projects tend to be expensive, risky, and lengthy. Andrew Lo and his colleagues at MIT suggest that crowdfunding [...]
1 2 3 6