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)

This.cm – the Facebook News Feed Replacement for Great Articles
Posted on October 31, 2015 at 12:35 pm
This.cm - the latest news aggregating platform - relies on crowds to post articles, follow members, and "Thank" members for posting great articles. It has the potential to replace your Facebook News Feed as your go-to place for great news [...]
Yik Yak is Crowd-Sourcing Funny
Posted on November 2, 2015 at 1:02 am
Yik Yak is crushing funny through crowd-sourcing.
Creative Action Network: Making the Classics Cool
Pinky and the Brain
Last modified on October 29, 2015 at 10:16 pm
Creative Action Network is removing barriers to help students enjoy reading classic works of literature via creativity!
Her Campus – The scalable digital magazine
Posted on October 31, 2015 at 11:29 pm
Business Model Her Campus is an online magazine that prides itself in being the number 1 online community for college women. The company has more than 7,000 contributors from 290+ schools writing articles on topics such as style, beauty, career, [...]
New Freelancer Opprotunity
Last modified on October 31, 2015 at 6:46 pm
WriterAccess provides an online content writing platform where customers can access over 10,000 rated U.S. writers, place orders and manage work flow using built-in planning and performance tools. The 14-person firm, headquartered in Boston, pulled in $4.4 M in revenue [...]
Lending Club shakes up the loan market
Posted on November 2, 2015 at 7:21 am
Lending club's business model is challenging the way we think about loans by leveraging their crowdfunding community to fund loans.
Hearken helps newsrooms fuel public-powered journalism
Last modified on October 27, 2015 at 4:50 pm
Proven successful in a handful of public media outlets, Hearken's public-powered platform brings communities into news.
Summit Powder Mountain
Dani Johnson
Posted on November 1, 2015 at 9:44 pm
Summit Series has crowdfunded and crowdsourced a new resort and town plan for Powder Mountain in Eden Utah. The Question is to what end?
ExcelinEd: Crowdsourcing in Education
Jennifer B.
Posted on October 31, 2015 at 3:45 pm
The US public education system has a lot of room for improvement. One education organization is utilizing crowdsourcing to make a change, and bring creative ideas to the system.
Using the wisdom of the crowd to diagnose medical mysteries
Marissa Henry
Last modified on November 3, 2015 at 3:00 pm
CrowdMed aims to help those who suspect they have a rare disease, perhaps were misdiagnosed, or simply want a second opinion provide the story of their health problem to a community of experts.
Crowdfunding by Betabrand or how an $88 “Poo Emoji Button-Up Shirt” raised 1298% of its funding goal
Last modified on November 2, 2015 at 3:07 pm
Betabrand is successfully harnessing the power of the crowd to get and vet apparel ideas. But will its engaged, niche crowdbase stand in the way of further growth?
The Sharing Economy Applied to Insurance: Friends With Benefits
Last modified on November 2, 2015 at 8:12 pm
Today insurance customers are harnessing technology to form communities designed to share risks and reduce their insurance costs.
Intrade: Crowdsourced Wisdom?
Posted on November 1, 2015 at 11:03 pm
Intrade leveraged the wisdom of crowds by allowing users to bet on future world events and displaying shockingly accurate predictive power in the process.
From drawings on a board to interactive apps – crowdsourced art
Posted on October 31, 2015 at 4:53 pm
Collaborative art is not an entirely new concept but has become easier than ever with the advent of digital technology. Large installations such as ‘Unnumbered Sparks’ have brought crowds and technology together to allow large-scale art projects that were previously [...]
giffgaff – the mobile network run by you
Posted on October 30, 2015 at 2:49 pm
giffgaff's model is so customer centric, the customers do most of the work. So far this seems to be working, but is it enough? Can the company withstand change that is not predicted by its customers? Is it just a [...]
Waze – Crowdsourcing Maps and Traffic Information
Posted on December 6, 2015 at 8:59 pm
Waze is the world’s largest community-based traffic and navigation app which enables drivers to share real-time traffic and road info, saving other local drivers time and gas money on their commute. Like other GPS software, it learns from users’ driving [...]
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