Crowdsourcing Business Model Innovation

    Research output: Contribution to conferencePaperResearchpeer-review

    Abstract

    Successfully adapting existing business models or developing new ones significantly influences a firm?s ability to generate profits and develop competitive advantages. However, business model innovation is perceived as a complex, risky and uncertain process and its success strongly depends on whether or not firms are capable of understanding and addressing their customers? needs. This study explores how crowdsourcing-based search approaches can contribute to the process of business model innovation. Drawing on data from a crowdsourcing initiative designed to develop ideas for new business models in the podcast industry, we provide first exploratory insights into the value of crowdsourcing for innovating a firm?s business model, and discuss which characteristics of crowd-contributors increase the quantity and quality of the outcome.
    Original languageEnglish
    Publication date2015
    Number of pages42
    Publication statusPublished - 2015
    EventThe DRUID Society Conference 2015: The Relevance of Innovation - LUISS Business School, Rome, Italy
    Duration: 15 Jun 201517 Jun 2015
    Conference number: 37
    http://druid8.sit.aau.dk/druid/registrant/index/login/cid/16

    Conference

    ConferenceThe DRUID Society Conference 2015
    Number37
    LocationLUISS Business School
    CountryItaly
    CityRome
    Period15/06/201517/06/2015
    SponsorLUISS Guido Carli - Libera Università Internazionale degli Studi Sociali Guido Carli
    Internet address

    Cite this

    Waldner, F., & Poetz, M. (2015). Crowdsourcing Business Model Innovation. Paper presented at The DRUID Society Conference 2015, Rome, Italy.