What is Peer-Vetted Creative Production Approach

The recent shift towards a polycentric perception of business making requires the involvement of stakeholders in an organization's management. This is a starting point for looking at the idea of crowdsourcing as an innovative business model. The inclusion of stakeholders in the process of developing new products or services forms a general foundation of this notion. Entrepreneurs take advantage of crowdsourcing ventures due to the delegation of tasks to stakeholders in the form of an open call. Crowdsourcing interacts dynamically with interconnected society of today. This trend is symbolized by the turn from a consumer to prosumer and from a content consumer to content creator. The chapter exemplifies the types of crowdsourcing with reference to recent research outcomes. Additionally, it presents crowdsourcing incentives and tackles the problem of ethical and legal risks that face crowdsourcing.