Crowdsourcing in E-commerce: Benefits and Risks
Added on 2020-05-08
16 Pages4005 Words29 Views
|
|
|
Running head: CONTEMPORARY TECHNOLOGIES AND DECISION MAKING CONTEMPORARY TECHNOLOGIES AND DECISION MAKINGName of the studentName of the UniversityAuthors note
1CONTEMPORARY TECHNOLOGIES AND DECISION MAKINGTable of ContentsQuestion 1............................................................................................................................2Collaboration with firm...................................................................................................2Improve decision making through collective intelligence...........................................2New Technologies.......................................................................................................5Benefits and Contribution............................................................................................6Critical success factor..................................................................................................6Question 2............................................................................................................................8Crowdsourcing beyond the firm......................................................................................8Normative decision model...........................................................................................9Role of technology.....................................................................................................10Overcoming of decision making problem.................................................................10Resistance of crowdsourcing for decision making....................................................12Reference...........................................................................................................................14
2CONTEMPORARY TECHNOLOGIES AND DECISION MAKINGQuestion 1Collaboration with firmThe financial sector of an IT sector can be benefited by the use of various tools like socialnetworking, wikis, blogs and forums. Various social networks are also known as relationshipnetworks which can help people and organization for connecting through online media platformso that they can easily exchange ideas and data containing important information (He, Zha, & Li,2013). Similar to the major networks of relationship this social platform can be proved beneficialfor creating an awareness about the brand, engaging different audiences (Aral, Dellarocas &Godes, 2013). Media share create a platform where people can easily share their media whichinclude photos, videos. While checking the needs for establishment of a media share network forthe organization must check the different resources available to them (Kao & Couzin, 2014).Forums can be proved to be beneficial as this provides a network for good resource for marketresearch. Bookmarking and content network can be proved to be beneficial for creating anawareness about the brand, involvement of various customer (Bhuasiri et al., 2012). Consumerreview network can be proved to be beneficial for this industry as positive review form variouscustomers can result in establishment of proof and can help in solving different problems withthe unsatisfied consumer. Blogs can be useful for engaging different customer and creation ofbrand. Improve decision making through collective intelligenceCollective intelligence generally relates to the idea of using the power of many people forfinding a solution to a given problem The fact is that a large number of people can easily solvedifferent problem in a more efficient way and can prove to provide a better answer than a
3CONTEMPORARY TECHNOLOGIES AND DECISION MAKINGparticular individual (He, Zha, & Li, 2013). Internet has provided a platform where a user canhave access to more and more data about various customers, employees and stakeholders of anorganization which is will result in gaining of better and accurate knowledge of the presentenvironment on the contrary it not enough for decision making. For improving the financialcondition of this given IT firm more data must be explored so that it might result in creatingmore opportunities.Various firms including this IT organization have till now used teams to overcomedifferent problems and has groups of individual which focuses on analyzing the needs ofdifferent customer and survey of different consumer for better understanding of current marketand conducting various meetings annually for keeping a track of the needs of differentstakeholders. Now the whole system has changed because of the recent technologies like web 2.0applications (He, Zha, & Li, 2013). This new technique make use of increasing the use ofinformation that is crowdsourcing or idea from crowd through various platforms like socialnetworks, various software’s and web based tool. This new method will help in increasing thefinancial background of this given IT firm. Solving a problem mainly comprises of two high level of task that is firstly generation ofsolution to given problem and secondly creating some assumption about it (Chen, Chiang &Storey, 2012). The goal can be generation of solution or both this particular IT firm can havethree methods for achieving their objective completely that are outreach, additive aggregationand self-organization. Outreach: During the generation of ideas or their evaluation a firm inclusive of this willlook into the people. The value of outreach is generally in number of people who are generatingand evaluation of problems.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents