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Innovation crowdsourcing is very much useful in all businesses as it brings immense benefits to all business.
27 Jun , 2020
As the name implies, Crowdsourcing means ‘outsourcing to the crowds’ to craft better products and services, achieve the best solutions and product design, and resolve long pending unresolved problems. Crowdsourcing takes the particular activities of a company or institution, otherwise performed by their employees/external consultant; these tasks outsource to an undefined (and generally large) network of people in the form of an open call. It leverages their wealth of knowledge and ideas to achieve business objectives, plus many other immense opportunities. Innovation crowdsourcing is very much useful in all businesses as it gives great benefits by using the crowd's skills and expertise that the crowds generate ideas and co-creating solutions within an end-to-end innovation process with the lowest cost compared to the in-house way of creating solutions. Sometimes, in-house or external consultants may not achieve the goal as they may not have that many capabilities/knowledge. Crowdsourcing projects can target both internal and external participants via questionnaires, competitions, promotions, and other methods. Because of this, crowdsourced input can serve as a major component of open and internal innovation.
The best results from Crowdsourcing can be achieved only if it is planned well, including: