Crowdsourcing essay

Document Type:Thesis

Subject Area:Business

Document 1

This is the central idea behind crowdsourcing. Crowdsourcing can be defined as the act of private or public organizations obtaining options, information or services from a large group. The growth of technology and the rise of social media sites has significantly promoted crowdsourcing. Organizations mainly obtain this kind of information from a large number of people in different geographic locations through the internet. Besides reducing the overhead costs, crowdsourcing enables business or organizations to tap into an array of skills that are available from various people around the world. Crowd contest is used when a job description requires one specific skill or item ("Crowdsourcing"). Crowd contests involve people submitting their sample ideas or opinions; the organizations then seeks the skills of the most qualified person from the crowd and hire them to perform the task (Aitamurto, and Chen).

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A macro task is a crowdsourcing technique used when an organization requires a particular skill for a project. This type of crowdsourcing also enables organizations to hire workers over the internet. Lastly, there is a microtasks; this involves the division of large jobs into smaller units ("Crowdsourcing"). The Philippines government has made several moves to clean the harbor, but their efforts seem not to bare any fruits (Beltran). For one the government has created an initiative to gather crowds to clean up the harbor. While this move was a success and a significant number of people showed up to clean the harbor, the conditions have hardly changed. The lack of change on the harbor despite the efforts by the government can be attributed to the fact the harbor has over 300,000 informal settlement on site (Beltran).

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The department of environmental and natural resources in the country has come up with a new strategy to clean up the bay. Not only organizations but also individuals have successfully applied the crowdfunding technique. Platforms such as go fund me are famous on many social media sites. Influential and prominent people such as the president of America Donald Trump have employed the use of these sites to achieve their visions. Such evidence suggests that this method has a high chance of succeeding where the government has failed. As stated earlier crowdfunding entails the recruitment or the engagement of the public to raise funds. There are tremendous benefits of crowdfunding. Projects that successfully utilize the crowdfunding approach get massive media attention, and this may help them grow even further even when the main goals of the project has been accomplished ("What Are The Advantages And Disadvantages Of Crowdfunding?").

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This method also doubles up as a marketing technique due to the awareness that such projects create. This enables them to create a wide market in case the organization is a business venture ("What Are the Advantages and Disadvantages of Crowdfunding?"). Organizations may also get ideas on how to improve on their projects during the crowdfunding process. This is because rewards will infringe on the profitability or the funds raised for the project. Comparing the advantages and disadvantages of these crowdsourcing techniques crowdfunding proves to be an excellent technique to raise funds and awareness of projects and thus help organizations achieve their goals. This method enables a project to prosper even in the event of completion. Considering that crowdfunding doubles up as a marketing technique, it makes it an indispensable crowdsourcing method, especially to small and upcoming organizations.

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