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Role of Crowd Sourcing Essay Sample

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As per the recent scenario of the market, there are a lot of changes in the global
environment. The changes are responsible for the fluctuation in the market. As per the impact of
globalization, the countries are dealing globally with each other and are exchanging the goods
and services for the growth of the economy. That is why it has been analyzed that the countries
are having marginal changes in the strategy and policies of business. The crowd sourcing is the
new technique of collecting the man force for the international trade principles. The essay will
describe the importance of the crowd sourcing in relation to the present scenario of the market.
The essay will also highlight the impact of the crowd sourcing on the global business
environment. The major contribution of the crowd sourcing will be clarified in the essay in
relation to the business world (Sloane, 2011).

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Role of Crowd Sourcing Essay Sample

  1. 1. Email: help@essaylive.co.uk, Phone: (UK) +44 203 3555 345 Website: www.essaylive.co.uk
  2. 2. Email: help@essaylive.co.uk, Phone: (UK) +44 203 3555 345 Website: www.essaylive.co.uk Table of Contents INTRODUCTION .......................................................................................................................... 3 CRITICALLY JUDGE THE ROLE OF CROWD SOURCING IN TODAY’S RAPIDLY CHANGING GLOBAL BUSINESS ENVIRONMENTS AND ITS CONTRIBUTION TO INNOVATION ............................................................................................................................... 3 CONCLUSION ............................................................................................................................... 5
  3. 3. Email: help@essaylive.co.uk, Phone: (UK) +44 203 3555 345 Website: www.essaylive.co.uk INTRODUCTION As per the recent scenario of the market, there are a lot of changes in the global environment. The changes are responsible for the fluctuation in the market. As per the impact of globalization, the countries are dealing globally with each other and are exchanging the goods and services for the growth of the economy. That is why it has been analyzed that the countries are having marginal changes in the strategy and policies of business. The crowd sourcing is the new technique of collecting the man force for the international trade principles. The essay will describe the importance of the crowd sourcing in relation to the present scenario of the market. The essay will also highlight the impact of the crowd sourcing on the global business environment. The major contribution of the crowd sourcing will be clarified in the essay in relation to the business world (Sloane, 2011). CRITICALLY JUDGE THE ROLE OF CROWD SOURCING IN TODAY’S RAPIDLY CHANGING GLOBAL BUSINESS ENVIRONMENTS AND ITS CONTRIBUTION TO INNOVATION As per the recent market scenario, Crowd sourcing is described as the new solution for social answerability and supremacy. The crowd sourcing is the new method of collecting the man force for the global business purposes. It is the method that having used by the employees of the firms. As per the view of the global researcher is concern the crowd sourcing is the process through which the businesses are generating new idea and involving them in the business for earning profit at eh large scale (Telofski, 2012). The ideas are provided from all the web users and after the proper analysis of the idea the company take the respective steps for converting the idea in to real proposals. The person whose idea helps the company to make profit is rewarded in the monetary terms for the motivation and excellence. This built the community in the society that shows there importance in the welfare of the company and also help the company to bring innovation in the products (Affeldt, 2012). These innovations not only increase the sale of the product but also help to increase the satisfaction level of the consumers of the company’s products and services. There is the difference between the crowd sourcing and the open sourcing. The crowd sourcing includes the individual for describing new idea and in return the company
  4. 4. Email: help@essaylive.co.uk, Phone: (UK) +44 203 3555 345 Website: www.essaylive.co.uk provide them the monetary benefit whereas in case of the open sourcing there s no such benefit for the individuals as because the open sourcing is done voluntarily by the general public (Fich, and Koufaris, 2013). Due to this crowd sourcing the company is able to solve many of the problems that the skilled employees of the company are unable to solve. The company make the internal problem as the challenge for the common public (Sui, Elwood and Goodchild, 2013). The common public show a major interest to solve it and win the best prize for the best alternative. According to the view of Matt H. Evans, the crowd sourcing is the gateway for the company to enter in the market completely. The channel of the crowd sourcing is so widely spread that there is no end of the idea for the companies (Crowdsourcing, 2013). The global help of the public is managed through the design process. This is Sample Essay, For complete Essay Kindly contact at help@essaylive.co.uk
  5. 5. Email: help@essaylive.co.uk, Phone: (UK) +44 203 3555 345 Website: www.essaylive.co.uk CONCLUSION As per the topical marketplace state of affairs, Crowd sourcing is described as the novel explanation for communal responsibility and superiority. The crowd sourcing is the new technique of collecting the man force for the universal commerce purposes. It is the procedure that having used by the workforce of the firms. The report explains the importance of the crowd sourcing in the global business world. The report also explained the changes that the crowd sourcing has brought in the innovation. The report clarified some of the internal and the external factors that are responsible for the changes in the global business. The report also highlighted the three types of the crowd sourcing namely the crowd funding, crowd sourced design and the crowd wisdom (Weaver, Chen and Mitchell, 2012). The five important factors those are truly responsible for the shaping the global business environments are also explained in the report. The pros and cons of the crowd sourcing are also explained in details. This is Sample Essay, For complete Essay Kindly contact at help@essaylive.co.uk

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