Essay from the year 2014 in the subject Business economics - Investment and Finance, grade: Honours, language: English, abstract: Crowd sourcing is an evolving platform that is helping business problems solve faster, with best quality and at the least possible cost. It is emerging as a new on-line distributed network, where crowd of people join hands to complete a task. The scalable workforce is highly accessible; thereby enterprises are readily implicating the concept in their projects. No one knows everything, everyone knows something and all the knowledge resides in humanity. Crowd Wisdom reflects on the dramatic, economic, cultural and political implications of applying the open source idea to a variety of fields other than the IT sector and addresses the unique opportunities in building a new Business Model. This paper provides an insight to both theoretical and exemplar cases distinguishing it from open source production. The paper also set possibilities to explore the potential of setting a business model, as a new trend setter by canvassing a large crowd of people with ideas, skills and participation. It also exploits crowd of innovators and the potential of using it beyond profit sectors.
About the Author: Dr. Raisi Dangi is a committed senior lecturer with over 3 years of experience at leading academic institutions and students from various social and cultural backgrounds with proven managerial, interpersonal and analytical aptitude. Possessing excellent administrative, verbal communication and written skills along with constructive and effective teaching methods that promote a stimulating learning environment. Efficiently coordinated administration and several programs, activities and events. She has authored a book on Disaster Management and currently involved in different management topics and issues and research works. Submitted PhD. In Financial Management Topic titled "A study of Marketing of money-in sphere of ideology, practices and Investment Behavior in NCR Region." (with special reference to Product Marketing) from JRN Rajasthan Vidhyapeeth University, Udaipur. She is NIAmM trained professional and has conducted workshops on Business Parametric Exercises and Business Excellence in various B-Schools and Corporate houses She has a flair for writing in Management and various Business Models. She has done her Masters in Business Administration and PG in International Business and Finance. Her articles keeps on publishing in different Management Journals and Magazines. She is also a active member of World Wide Fund for Nature.