Business models innovation based on crowds: a comparative study

Kubiak Katarzyna and Wziątek-Kubiak Anna ()
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Kubiak Katarzyna: Institute of Economics, Polish Academy of Sciences, Warsaw, Poland
Wziątek-Kubiak Anna: Bloomberg L.P., London, United Kingdom

International Journal of Management and Economics, 2019, vol. 55, issue 2, 127-147

Abstract: With arrival of information technology, interaction between consumers and companies become more common. It has implications for the way business function and for business models. The aim of the paper is to analyze crowdsourcing and compare crowdsourcing business models of three product and content crowdsourcing companies, their common features and differences. These companies differ considerably in many respects. The business model framework used is based on Osterwalder and Pigneur’s approach. The paper shows various consequences of using crowds. It shows that having crowds as a key asset implies a necessity to take care of the crowd and network effect before launching a crowdsourcing initiative. The paper gives those involved in crowdsourcing insight about factors crucial for their company and points to where they need to concentrate their resources.

Keywords: open business model innovation; crowdsourcing; crowdsourcing companies (search for similar items in EconPapers)
JEL-codes: M19 M21 O32 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ijomae:v:55:y:2019:i:2:p:127-147:n:4

DOI: 10.2478/ijme-2019-0010

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