Crowdsourcing in Small and Medium Sized Enterprises

Background

The commonly known nature of innovation practices, that of being a strategic management tool that needs to be closely guarded, is changing. Being open is no longer an option and crowdsourcing lends itself to the open nature innovation ought to have. Crowdsourcing is an emerging theory of innovation and innovation management (Von Stamm & Trifilova, 2009). Innovation remains the key to the sustainability of an organisation, particularly SMEs, and open innovation and crowdsourcing largely contribute to the extent to which this sustainability is achievable (Von Stamm & Trifilova, 2009). Crowdsourcing is all about collaboration and not working in isolation (Anderson, 2010).