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A Group Effort

A Group Effort. By Hana Jacover & Tim Nicklas. What is Crowdsourcing ?. Article defines it as - “ outsourcing a job normally completed internally to a large, undefined group of people in an open call .” Companies are outsourcing work to consumers Benefits Cheaper New perspective

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A Group Effort

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  1. A Group Effort By HanaJacover & Tim Nicklas

  2. What is Crowdsourcing? • Article defines it as - “outsourcing a job normally completed internally to a large, undefined group of people in an open call.” • Companies are outsourcing work to consumers • Benefits • Cheaper • New perspective • Two heads (or 20,000) are better than one • Innovative way of creating consumer involvement, building strong brand loyalty

  3. Netflix Example • Looking to create an algorithm that more accurately matched movie recommendations with preferences based on ratings • Instead of hiring a few scientists, they created a contest • Team with best algorithm will win $ 1 million • $50,00 each year contest goes on to leading team • After almost three years with over 50,000 participants, a team won, minutes before another team submitted a “winning algorithm” too. • Big success! Hired 51,000 scientists for $1 million • Question – Do you guys think this was a good move for Netflix, or do you think hired Scientists would developed better solution.

  4. Dell example • Online community where consumers submit their ideas to better the brand. • When ideas were worth integrating, Dell would adapt the idea and award the innovator with A PEN!!!....with an engraved box. • Question – Dell get your idea, you get a pen. How does that make you feel? • Would you post an idea to Dell knowing that your greatest reward would be a pen?

  5. Waltham, Mass.-based InnoCentive Inc • Offers companies, nonprofit organizations and universities the chance to tap the collective brain- power of more than 200,000 people through InnoCentive’s open innovation platform. • Anyone can be a “solver” • From engineers and scientists to business people and musicians. • Businesses are “seekers” • Post challenges with reward incentives • Some seekers make solver giveaway all the rights. Other seekers lease rights from solver.

  6. Waltham, Mass.-based InnoCentive Inc • Examples of Smaller Challenges (30-90 day turnover) • Designing environmentally friendly alternatives to standard screw-top bottle cap ($5000 reward) • Helping NASA develop the ability to forecast solar activity ($30,000) • Examples of Bigger Challenges (One year or more) • Develop a method to measure the progression of Lou Gehrig’s disease ($1 million reward). • Average Success Rate of 45% • Question – How do you think other people at the company feel about the outsourcing? • Any other comments?

  7. Article Source http://classes.bus.oregonstate.edu/ba499/elton/Articles/A%20group%20effort.pdf

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