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)

Zooniverse: Anyone Can be a Researcher
JC
Posted on March 25, 2018 at 11:09 pm
Zooniverse if a platform that allows anyone to become a researcher by posting research projects for volunteers to partake in as well as allowing volunteers to post their own projects to gain help on.
Applause: Crowdsourced User Experience Testing
HC
Posted on March 26, 2018 at 4:58 pm
Applause crowdsources 300,000+ testers located in 200+ countries and territories who get paid for testing digital products and provide user experience feedback and report glitches
Netflix for Books
MHS
Last modified on March 26, 2018 at 1:48 pm
What started as a social network for bookworms has turned into the largest site for readers and book recommendations with 65 million members, 2 billion books added, 68 million reviews. Goodreads leveraged crowdsourced reviews, a sticky offering (more you use [...]
Giffgaff: the ‘mobile network run by you’
Iryna
Posted on March 25, 2018 at 5:02 pm
Launched as an experiment in 2009, Giffgaff is now the third largest mobile virtual network operator in the UK (just behind Virgin Mobile and Tesco Mobile), but the only one run by its own customers. Some have believed it is [...]
Making Millions Playing Video Games
HBS2018
HBS2018
Last modified on March 26, 2018 at 5:51 pm
Twitch is an online platform that gives video game steamers the ability to make money directly from the viewers they attract. Unlike many traditional content creators that must achieve a minimum size to attract ad buyers and corporate partners, or [...]
“Activist mapping” at Ushahidi
Crystal
Last modified on March 26, 2018 at 5:42 pm
How a non-profit tech company is combining crowdsourcing, citizen journalism and geospatial information to drive social activism and public accountability
Quantopian: Leveraging the Crowd to Generate Alpha
jessica
Posted on March 25, 2018 at 10:58 pm
Quantopian enables anyone to build their own trading algorithm and win prizes for performance. In addition to providing a platform for creating and testing trading algorithms, Quantopian puts capital allocation in their own fund behind successful user created algorithms, sharing [...]