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 digit.hbs.org 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.

Responses (85)

Yelp
Shiv
Posted on March 25, 2018 at 6:10 pm
Crowdsourced reviews for businesses might seem commonplace and mundane today, with Yelp commanding a valuation of $3.4 billion and 145 million average monthly unique visitors. Yet the company’s beginnings in 2004 demonstrate how leveraging the crowd was not always an [...]
Google Voice Search
Chris
Last modified on March 26, 2018 at 10:53 am
Google developers crowdsourced linguistic data to give Voice Search more mojo.
CrowdMed, a virtual Dr. House
Saurav Patyal
Posted on March 26, 2018 at 3:52 pm
CrowdMed is an online platform that connects patients with difficult medical conditions to a medical community that uses its collective intelligence to find the right diagnosis.  When a patient has a rare condition or non-specific symptoms, getting an accurate diagnosis [...]
DonorsChoose.org: building a platform to crowdfund classrooms
m_watson
Last modified on March 25, 2018 at 8:20 am
DonorsChoose.org is a non-profit crowdfunding website connecting individual donors and teachers / classrooms in need. They successfully built a platform where 75% of gifts are from donors who don’t share ties to those making the request by building trust, transparency, [...]
Amazon takes on Hollywood
Y.Z.
Last modified on March 26, 2018 at 3:58 pm
A Big Tech company reinvests the old American classic by harnessing the power of the crowd.
Accenture – Professional Services Giant Leveraging the Crowd?
RobD
Last modified on March 26, 2018 at 6:01 pm
With $100M market cap, >$35 billion in revenues, and 425,000 employees, Accenture is arguably the largest professional services firm in the world. With no products, Accenture’s greatest asset is its people… they sell human capital. Therefore, decisions about how to [...]