Crowdsourcing: Why the Power of the Crowd Is Driving the Future of Business

Crowdsourcing has the capacity to form a sort of perfect meritocracy. The quality of work takes precedence over pedigree, race, gender, age and qualification.

People might be enthusiastic and capable of some level of self organization but they also require directions and guidance and someone to answer their questions. Most successful crowdsourcing efforts are products of a robust collaboration between the crowd and the individuals guiding them. These people focussed the collective and corrected for some ... See more

Linda Parker ("Online communities editor", for the Cincinati Post) - "It used to read, 'Be a Citizen Journalist' and no one ever clicked on it, then we said, "Tell us your story" and still nothing. For some reason, 'Get Published' were the magic words."

The 1:10:89 Rule - For every given 100 people, 1 will actually create something, 10 will vote on what he created and the remaining 89% will merely consume.

Von Hippel (Head of the Innovation and Entrepreneurship Group at MIT's Sloan School of Management) demonstrated that in fields as wide ranging as scientific instruments and mountain bikes and computer chips, the task of innovation was passing from the manufacturer to the user, who has both a greater need and a greater ability to improve a product's... See more

- They are donating their leisure hours to the cause.

- Extrinsic - The Carrot (Financial Reward) and The Stick (A scolding from your boss)

People are driven to contribute for a complex web of motivations, including a desire to create something from which the larger community would benefit as well as the sheer joy of practicing a craft at which they excel. People are inspired to contribute to crowdsourcing endeavors for similar motivations, though financial incentives also play a role,... See more

People will work late into the night on one creative endeavor or another in the hope that their community - be it fellow designers, scientists, or computer hackers - acknowledge their contribution in the form of kudos and, just maybe, some measure of fame.

- Intrinsic - goals such as creative fulfillment, a belief in the project, the sense of community obligation, the opportunity to enhance one's reputation in the community.