Emerging “Crowdinnovation”

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Abstract

Information technology (IT) enables the dissolution of firm boundaries to connect thousands of people in a “crowd” beyond the firm boundaries. This study advances the former research as a superordinate innovation model using comprehensive approach. I propose the superordinate innovation model, which is crowd-centered innovation using IT, called “crowdinnovation” to promote the innovation. I defined “crowdinnovation”, whereby “innovation resources” can be obtained via a “crowd service” to create and accelerate innovation. The crowd services include social media, crowdfunding, crowdsourcing, and crowdstorming and so on. The innovation resources include information, funding, customers, human resources, knowledge, and ideas. This umbrella concept enables innovation to promote as the concept-driven business model. I found the global “long tail” effect of “crowd service.” It remains for companies to accept the challenge of how to use crowdinnovation.