What are key components when creating an innovative crowdsourcing business model

Yanfeng Liu*, Yanmeng Xu, Shengfeng Qin

*Corresponding author for this work

    Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

    2 Citations (Scopus)

    Abstract

    Crowdsourcing, as a new business model, can effectively reduce the cost of enterprises, stimulate public participation's passion and enable enterprises to obtain multi-channel innovation. From the point of view of business model, Crowdsourcing can effectively improve the enterprise's overall value proposition, value creation, value transfer and value network construction. Although nowadays Crowdsourcing is widely applied across industries, it is still imperfect in implementing at a practical level, especially when adapt it to fit for different industries. This paper focuses on (1) the identification of key components in an innovative business model, and (2) discussion on how to create an innovative Crowdsourcing business model, which forms a framework for developing Crowdsourcing business models at different levels of detail such as types of industries, types of platforms and types of tasks.

    Original languageEnglish
    Title of host publicationICAC 2018 - 2018 24th IEEE International Conference on Automation and Computing
    Subtitle of host publicationImproving Productivity through Automation and Computing
    EditorsXiandong Ma
    PublisherInstitute of Electrical and Electronics Engineers Inc.
    ISBN (Electronic)9781862203426
    DOIs
    Publication statusPublished - Sept 2018
    Event24th IEEE International Conference on Automation and Computing, ICAC 2018 - Newcastle upon Tyne, United Kingdom
    Duration: 6 Sept 20187 Sept 2018

    Publication series

    NameICAC 2018 - 2018 24th IEEE International Conference on Automation and Computing: Improving Productivity through Automation and Computing

    Conference

    Conference24th IEEE International Conference on Automation and Computing, ICAC 2018
    Country/TerritoryUnited Kingdom
    CityNewcastle upon Tyne
    Period6/09/187/09/18

    Keywords

    • Business model
    • Crowdsourcing
    • Value capture
    • Value creation
    • Value network
    • Value proposition
    • Value transfer

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