Exploitation of Crowd as a Source of Competitive Advantage

Barbora Lebedová

Master's thesis

Abstract:

The objective of this thesis is to research and analyze methods used for exploiting the crowd in business context. The focus is given to crowdsourcing as it is a viable method of involving the crowd in the daily operations. The "crowd" can be defined as a cohesive group of people that are bound together by their specific interest, skill or education. After introducing crowdsourcing as a method, its benefits and downfalls, and potential for companies; the focus is on real-life examples and empirical research performed among companies that have successfully implemented crowdsourcing principles. Using the findings from both literature review and empirical research, a five-step incremental strategy for implementation and best practices have been formulated to provide guidance to companies that wish to employ crowdsourcing or other crowd-based methods into their operations.

Abstract:

The objective of this thesis is to research and analyze methods used for exploiting the crowd in business context. The focus is given to crowdsourcing as it is a viable method of involving the crowd in the daily operations. The "crowd" can be defined as a cohesive group of people that are bound together by their specific interest, skill or education. After introducing crowdsourcing as a method, its benefits and downfalls, and potential for companies; the focus is on real-life examples and empirical research performed among companies that have successfully implemented crowdsourcing principles. Using the findings from both literature review and empirical research, a five-step incremental strategy for implementation and best practices have been formulated to provide guidance to companies that wish to employ crowdsourcing or other crowd-based methods into their operations.

Keywords

strategic implementaion, crowdsourcing, open innovation, crowd

Keywords

strategic implementation, crowdsourcing, open innovation, crowd

Language used: English

Date on which the thesis was submitted / produced: 7. 2. 2013

Thesis defence

• Date of defence: 12. 9. 2014
• Supervisor: Martin Lukeš
• Reader: Jan Mareš

Vysoká škola ekonomická v Praze

Master programme / field:
Ekonomika a management / International Management