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What is Crowdwisdom

Chapter 10
Analyzing the Relationship Between Innovation, Value Creation, and Entrepreneurship
collective contribution of intelligence and knowledge that is based on the idea that a multitude has more knowledge than a single individual.
Published in Chapter:
Open Innovation as a Business Entrepreneurship Strategy: The Consumer as Value Creator in Digital Ecosystems
Miguel Angel Gomez-Borja (University of Castilla-La Mancha, Spain), Carlota Lorenzo-Romero (Universidad de Castilla-La Mancha, Spain), and Leticia del-Pozo Ruiz (Universidad de Castilla-La Mancha, Spain)
Copyright: © 2020 |Pages: 31
DOI: 10.4018/978-1-7998-1169-5.ch010
Abstract
The relationship established through online channels between customers and organizations defines a new and challenging scenario. Within a digital environment and through innovation strategies based on joint participation, it is possible to interact with the customer in a more personalized way with more differentiating actions. To identify the relevance of current online business management actions, this chapter proposes an approximation to the term open innovation. Authors posit the growing relevance for organizations of the application of innovation strategies through external inputs, the interaction between various agents and crowdsourcing actions. They discuss the new role of the consumers as co-creating agents of value in the new ecosystems of entrepreneurship.
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