A recipe for success: Crowdsourcing, online social networks, and their impact on organizational performance

Daniel Palacios-Marqués, José Fernando Gallego-Nicholls and María Guijarro-García

Technological Forecasting and Social Change, 2021, vol. 165, issue C

Abstract: In the global and turbulent world we live in, companies must differentiate themselves by creating a competitive advantage through constant innovation to adapt to the changing environment. A firm's competitive advantage is permanently being contested. Thus, preserving this competitive advantage is critical. Consequently, firms can innovate to survive and thrive through two mechanisms: crowdsourcing and online social networks. However, the interrelationships between these mechanisms are poorly understood and need further testing. Online social networks and crowdsourcing involve individuals who are encouraged to share ideas, driving innovation through knowledge provision. This study aims to determine the importance of online social networks and crowdsourcing as elements that favor organizational learning processes to promote organizational development. This paper presents a set of hypotheses on the relationships between these variables. The findings suggest that online social networks, crowdsourcing, and organizational performance are correlated. Therefore, both of the research hypotheses are supported. Online social networks are shown to play an important role in companies by positively influencing the performance of organizations. Similarly, crowdsourcing is shown to benefit organizational performance.

Keywords: Crowdsourcing; Online social networks; Organizational learning capabilities; Organizational performance (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:165:y:2021:i:c:s0040162520313925

DOI: 10.1016/j.techfore.2020.120566

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