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  • :SugarwareZ-135:CROWDSOURCING

    Despite the jargony name, crowdsourcing is a very real and important business idea. Definitions and terms vary, but the basic idea is to tap into the collective intelligence of the public at large to complete business-related tasks that a company would normally either perform itself or outsource to a third-party provider. Yet free labor is only a narrow part of crowdsourcing's appeal. More importantly, it enables managers to expand the size of their talent pool while also gaining deeper insight into what customers really want.



    Crowdsourcing nomenclature is still in flux, but related terms include:



    Ideagoras: Democratic marketplaces for innovation. Proctor & Gamble taps 90,000 chemists on Innocentive.com, a forum where scientists collaborate with companies to solve R&D problems in return for cash prizes.
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