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 language | English |
|---|---|
| Publication date | 2015 |
| Number of pages | 42 |
| Publication status | Published - 2015 |
| Event | The DRUID Society Conference 2015: The Relevance of Innovation - LUISS Business School, Rome, Italy Duration: 15 Jun 2015 → 17 Jun 2015 Conference number: 37 http://druid8.sit.aau.dk/druid/registrant/index/login/cid/16 |
Conference
| Conference | The DRUID Society Conference 2015 |
|---|---|
| Number | 37 |
| Location | LUISS Business School |
| Country/Territory | Italy |
| City | Rome |
| Period | 15/06/2015 → 17/06/2015 |
| Sponsor | LUISS Guido Carli - Libera Università Internazionale degli Studi Sociali Guido Carli |
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