Managing Digital Crowds

March 2017

March 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.

Responses (91)

De Correspondent: member-based journalism
Daniel C
Posted on March 21, 2017 at 12:24 am
In 2017, the Dutch online newspaper “De Correspondent” reached a new milestone: 50,000 paying members1. Even though only 4 years old, the new venture is already rivaling the biggest newspapers in digital users5. Their secret? Building and sustaining an active, [...]
Equity investing for the masses: Is Indiegogo killing VCs?
LiDe
LiDe
Posted on March 20, 2017 at 5:46 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 [...]
TED: Changing the World, 18 Minutes at a Time
Kathy Wang
Posted on March 21, 2017 at 7:59 am
Power posing. Underwater sea creatures. Reinventing the education system. Most of us have watched a TED Talk – but how did it leverage its community to grow into a global phenomenon, or is it really just one big groupthink bubble?
Impact Guru: Crowd funding for your need
Venkat
Venkat
Posted on March 22, 2017 at 2:20 am
Are you one of the following in the need of money: NGO raising funds for its operation, an individual trying to figure out the medical expenses, or a startup looking to raise capital, Impact Guru is there to help.
SpotAngels – Using crowds to solve the car parking problem.
AC
Posted on March 20, 2017 at 5:50 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 [...]
Lego Ideas: Leveraging crowds to design your product for you
sblemast
Posted on March 20, 2017 at 5:53 pm
LEGO IDEAS One company that is leveraging crowd sourcing to design creative new products while simultaneously building a community based platform is LEGO through its LEGO ideas website. Users are given freedom to design their own lego products from scratch [...]
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