ENT30010: Analysis of Crowd and Ecosystems in Entrepreneurship Module

This assignment solution addresses contemporary issues in entrepreneurship, focusing on the concepts of crowdsourcing and crowdfunding. It analyzes how companies like P&G, 99designs, Innocentive, Quirky, Threadless, Zooniverse, Experiment, and Kickstarter utilize these strategies. The solution explores the differences between crowdsourcing and crowdfunding, providing examples of their application in business models, including eBay. The assignment also includes a word count and references to support the analysis of these innovative business practices. The assignment explores real-world examples of crowdsourcing and crowdfunding, and provides a detailed analysis of the topic.

Running head: CONTEMPORARY ISSUES IN ENTREPRENEURSHIP
Contemporary Issues in Entrepreneurship
Name of the Student:
Name of the University:
Author note:

1CONTEMPORARY ISSUES IN ENTREPRENEURSHIP
Part 1:
Question 1:
pgconnectdevelop.com 2018, Do you have the next game changing innovation? - P&G -
Connect + Develop, viewed 9 January, 2020, <https://www.pgconnectdevelop.com/>.
Question 2:
The following table shows the company websites that is making use of the crowdsourcing
for the purpose of their business.
Sl.
No.
Name of the Company Crowdsourcing
1 99designs The design ideas are gathered form the
various parts of the world for the
company with the help of this website.
2 Innocentive Various innovation techniques are
obtained with the help of the
crowdsourcing.
3 Quirky Here the ideas are gathered form the real
sources and transformed into reality. The
design techniques and ideas are gathered
by this website for the purpose of
transformation.
4 Threadless This is a website where the T-Shirts are
designed with the help of the
crowdsourcing. The ideas can be
gathered by website where people can
connect to share their thoughts.
5 Zooniverse Crowdsourcing of the practical
experience from the research experts in
all the fields.
Question 3:
The following table shows the companies making use of the crowd-funding:

2CONTEMPORARY ISSUES IN ENTREPRENEURSHIP
SL.
No.
Name of the Company Crowd-funding
1 P&G company The company advertise on the social
median in order to raise funds for the
people who are in need.
2 Experiment For the scientific researches around the
world a huge amount of fund is needed.
This website gathers funds for the
scientific researches around the world.
3 Kickstarter This website gathers funds for all sort of
researches. There are organizations
present for the researches in the field of
science. Kickstarter crowd-funds for the
researches in all other field of education.
Question 4:
E-Bay is the sight which is used for both crowd funding and sourcing. When I am putting
up a product for sale on e-Bay, I am basically acting as the source of information for the crowd
who is seeing my product with an intension of buying or just for the information regarding the
product. The main agenda of the crowd sourcing is providing information regarding the product
such that the people can get all the possible information regarding a product form the online
sources (Goodman and Paolacci 2017). The concept of the crowd funding is completely separate
from the crowdsourcing. Crowd-funding is a method of gathering funds with the help of
advertisement on the social media for the people who are in need (Kuppuswamy and Bayus
2017).
Question 5:
The total words required for the responses is 398.

3CONTEMPORARY ISSUES IN ENTREPRENEURSHIP
References:
Goodman, J.K. and Paolacci, G., 2017. Crowdsourcing consumer research. Journal of Consumer
Research, 44(1), pp.196-210
Kuppuswamy, V. and Bayus, B.L., 2017. Crowdfunding creative ideas: The dynamics of project
backers in Kickstarter. A shorter version of this paper is in" The Economics of Crowdfunding:
Startups, Portals, and Investor Behavior"-L. Hornuf and D. Cumming (eds.).