Competing with or Against Crowds

March 26, 2018

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 create value and capture value. 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 at to make your contribution by 6pm on March 26. Please create appropriate tags for your post. Please also respond to and comment on three other posts per module before class. Feel free to use graphics, data, videos and links to other sites to corroborate your points.

Submitted (84)

From Citizens-Connect to Connected Citizens
Jean Grey
Last modified on March 27, 2018 at 3:04 pm
For too long government-citizen interactions have been disconnected. Every once in a while, in a democratic system, people would go to the polls and express their preferences by electing representatives and delegating in these individuals a lot of power until [...] democratizing content creation for younger generation
Call Me By Your Name
Posted on March 26, 2018 at 4:30 pm is a video social media platform for video creation, sharing, discovering and live broadcasting. Through the app, users can create 15-second to 1-minute videos and choose sound tracks to accompany them, use different speed options (time-lapse, fast, normal, slow [...]
Desginhill: Crowdsourcing in Graphic Design
Posted on March 26, 2018 at 12:04 pm
Designhill allows freelance designers to connect with businesses looking to outsource design work.
Vigilante App: What Happens when Ordinary Citizens Take Crime Fighting into their Own Hands?
Posted on March 25, 2018 at 4:22 pm
While the app’s crowdsourcing platform has brought more transparency and crime awareness for local residents, it has also raised deeper concerns and doubts around the idea of crowdsourced vigilantism.
OpenIDEO: A Platform to Harness Collaboration for Social Good
Last modified on March 26, 2018 at 5:56 pm
A few years ago, IDEO launched Open IDEO, a crowdsourcing platform where people from across the world can collaborate to solve tough global issues. [1] We’ll explore how OpenIDEO is using crowds to generate value, and the challenges it may [...]
OpenIDEO: Can the power of crowds solve our toughest social problems?
Posted on March 26, 2018 at 4:34 pm
Tapping into the design thinking methodology that was pioneered by its parent company, IDEO, OpenIDEO puts this powerful tool and methodology in the hands of many in an attempt to ignite even more innovation among some of the world’s most [...]
Bottoms up! offers a new community-driven wine marketplace
Posted on March 26, 2018 at 5:36 pm
The new online venture, recently launched through a Kickstarter campain, aims to build a community of wine lovers and consumers interested in buying cases of wine together, directly from US producers.
Patreon: Modernizing and crowdsourcing patronage of the arts
Jay Kumar
Last modified on March 26, 2018 at 7:06 am
Patreon allows creators of all stripes to crowdsource funding on a subscription basis.
The Origin of Netflix’s Success
Posted on March 26, 2018 at 4:35 pm
How did Netflix develop its initial strategies, and how the early on lessons set the tone for its long-term growth?
Folding@Home: Crowdsourcing a cure for cancer?
Last modified on March 26, 2018 at 5:53 pm
When we think about crowdsourcing initiatives, we often think about for-profit ventures like Threadless or Kickstarter. But what if you could use crowdsourcing to solve some of humanity’s greatest challenges, and even save millions of lives? Well that’s exactly what [...]
Quantopian: the democratization of Wall Street?
Posted on March 26, 2018 at 10:55 am
As quant hedge funds approach the $1 trillion AUM mark can crowd-sourcing investment algorithms proof to be a sustainable strategy to get an edge over the competition?
Premise: Using Crowdsourcing to Connect Governments with Markets and Citizens
Posted on March 26, 2018 at 5:15 pm
Premise's network of 80,000 contributors across 30 countries gather local data to provide fast insights into local economics and more. Can the company grow its work with government?