Managing Digital Crowds

March 21, 2017

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 by 6pm on March 20. 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 (92)

SpotAngels – Using crowds to solve the car parking problem.
Last modified on March 20, 2017 at 5:55 pm
SpotAngels is a San-Francisco based start-up founded in 2014 and a graduate of Y-Combinator summer 2014 batch. The company focuses on solving the car parking problem. While it is still at its early stage, SpotAngels is developing an innovative way [...]
Wikipedia – The Free Encyclopedia
Mohit Mittal
Last modified on March 20, 2017 at 10:46 pm
With over 40M articles and 15 billion page views, Wikipedia is the fifth-most popular website in the world. With an editorial community of 75,000, Wikipedia has maintained a hierarchical structure to ensure the quality of content. Managed by a non-profit [...]
Equity investing for the masses: Is Indiegogo killing VCs?
Last modified on March 20, 2017 at 7:47 pm
Crowdfunding has been gaining more hype – especially in the last year since new regulation was passed allowing anyone in America to own shares of a private company. What does that mean for VCs? Why is Indiegogo positioned to win [...]
Slickdeals – Monetizing frugality
Yun Yu
Last modified on March 16, 2017 at 8:13 pm
Have you ever bought something online and felt really pleased with yourself, only to find out shortly afterwards that you overpaid by 20%? Suddenly that new pair of shoes you were looking forward to, is now just a constant reminder [...]
Iodine: the ‘Yelp of Medicine’
Last modified on March 20, 2017 at 4:58 pm
Iodine is the ‘Yelp of Medicine,’ creating tremendous value by crowdsourcing reviews of pharmaceuticals to help patients make better-informed choices about their medications. But the question remains: can they capture any of that value?
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