CROWD SOURCING (UNITY IS STRENGTH) Crowd sourcing is a sourcing model in which individuals or firms or organizations use contributions from the internet users to get the ideas and needed services. It’s a blend of two words – crowd and outsourcing. To achieve a cumulative result, it is divided to work between two or more participants. Crowd sourcing is different from outsourcing. Outsourcing- work gathered from public.
3.1 Advantages of crowdsourcing in firms With crowdsourcing firms can furthermore attract and retain their customers, built brand loyalty and create viral effects, as was done in the above mentioned crowdsourcing campaign of Henkel. It is thus also a way of creating awareness and managing the marketing of a company. When companies use crowdsourcing as a business strategy, they have to find a way to harness the wisdom of the crowds (Surowiecki 2004) in an effective manner in order to unlock innovation. The wisdom of the crowds is based on the fact, that a group of average people can solve tasks better than an expert. Crowdsourcing enables a company to reach a broad audience in a short period of time and involve them into the process of problem solving.
Crowdfunding Definition and Business Model According to Mollick (2014) crowdfunding is a relatively new way of funding for entrepreneurs and start-ups developed from the previous concepts of crowdsourcing and micro finance. Schwienbacher & Larralde (2010) defined crowdfunding as ‘’an open call, essentially through the Internet, for the provision of financial resources and/or voting rights in order to support initiatives for specific purposes’’. Finally the Oxford Dictionary’s (2014) definition of crowdfunding is “The practice of funding a project or venture by raising many small amounts of money from a large number of people”. Crowdfunding embraces a wide range of potential financing needs. In some occasions, crowdfunded projects seek to raise
Lau (2012) said that, the resourcing strategy incorporates drawing in and selecting and enrolling brilliant people. Learning and improvement techniques incorporate preparing and advancement, at work learning etc. which gives a learning domain to the people at work. The work of the effective representatives must be very much perceived and remunerated. For this prize and pay methodologies both financial and non-fiscal procedures must be distinguished.
2. There is a direct connection between funders who are seeking capital and the crowd, with no in-between. This is made possible by the Internet. Crowdfunding was inspired by the idea of crowdsourcing and micro-financing. Successful Crowdfunding is associated with the underlying project as well as the personal
CROWDSOURCING Refers to an article in the Convergence the international journal of research into new media technologies by Daren C.Brabham, Crowdsourcing as a Model for Problem Solving; crowdsourcing is the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call. This can take the form of peer-production (when the job is performed collaboratively), but is also often undertaken by sole individuals. The crucial prerequisite is the use of the open call format and the large network of potential laborers (Brabham, 2008). Simply says that crowdsourcing is the process acquiring needed services, ideas, or content by requesting
Social media websites such as LinkedIn, Facebook and Twitter have communities where potential employees submit their resumes and credentials in the hope of landing a job. There are dozens of other mediums you can take advantage from, when it comes to modern recruitment methods in general and the age old debate of which method is better, is one which will go on for quite some time. Scouting Scouting means sending the representation of the organizations to various sources of recruitment with a view to persuading or stimulating the candidates to apply for jobs. The representatives provide information about the company and exchange information and ideas and clarify the doubts of the candidates. Advantages of Modern requirements.
This occurs when consumer is influenced by outside factors like opinions of other people (Jones, 2014). One of the tactics that social media marketing has been implying is documenting a scenario wherein an individual is having a hard time doing a daily chore. After explaining the problem, there comes then their product or service that can solve the current problem. This video or photo will be then posted in their social media platforms. Through this, it can be expected that an awareness of a need or want will then arise from the mind of the audience.
Given the mobility of students and globalization of education it is important to pay attention to the use of crowdsourcing technologies as a tool to obtain feedback and to develop optimal solutions for the improvement of the university management structure (for example, http://bg.ru/city/vuzy_perehodyat_na_kraudsorsing-9507/), improving the efficiency of educational process and scientific activity, the development of relationship marketing in university (Buzueva, 2013), as well as to study the efficacy of this tool (Bloodgood, 2013). Researching the effectiveness of the implementation of crowdsourcing in university, we relied on the assumption that the crowdsourcing perfectly fits into the university model as a tool to ensure the following: • Relationship marketing: students and academic staff acquire practical experience in solving issues of current interest for the university, their sense of belonging and influence on community life of the university increase, and the management - feedback and the opportunity to work out optimal