From Open Design to Open Strategy: Managing the Evolution of Crowdsourcing-Based Business Models

Thierry Burger-Helmchen, Erica J. Siegel, Anne-Laure Mention and Marko Torkkeli

Chapter 4 in Managing Digital Open Innovation, 2020, pp 73-107 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Creative firms build their competitive advantage on their ability to harness crowds. Such firms, however, often find themselves facing stiff competition as they race against their competitors to attract the largest crowds. In order to obtain economies of scale, these creative firms need to find ways to develop new and innovative ideas, which they can transform into action without increasing costs. As crowd size increases, the urge to offer a wider range of possibilities and involve crowds in the decision-making process pushes firms to make the shift from an open design to an open strategy-based business model. During this transitional period, which is marked by the growth of a firm’s crowdsourcing platform, many elements of the firm’s business model and governance practices must evolve. In this chapter, we examine the processes by which firms approach this transitional phase, focusing upon the management strategies firms employ in crowdsourcing-based business models in the period between the launch and adoption of a full open strategy…

Keywords: Open Innovation; Digital Disruption; Industry 4.0; Data-Driven Decision; Value Networks; Organizational Agility; Digital Design; Collaboration; Innovation Policy; Social Media; Open Strategy (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2020
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Working Paper: From Open Design to Open Strategy: Managing the Evolution of Crowdsourcing-Based Business Models (2020)
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