Fostering innovation with KM 2.0

Ribière, Vincent; Tuggle, Francis D.

doi:10.1108/03055721011024955

Cited by 40 publications

(23 citation statements)

References 8 publications

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“…Upon close examination of the various definitions, some reoccurring patterns include: crowdfunding focuses on raising financial funding from the public, represented by a group of people, using specific internet-based platforms (e.g. Mazzola & Distefano, 2010;Ribiere & Tuggle, 2010;Yang, Adamic, & Ackerman, 2008).…”

Section: Definitionsmentioning

confidence: 99%

Strategies for reward-based crowdfunding campaigns

Kraus

Richter

Brem

et al. 2016

Journal of Innovation & Knowledge

168

113

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JEL classification: M13 O3 O31 O320 Keywords: Crowdfunding Reward-based Success factors Germany fsQCA Communication a b s t r a c t Crowdfunding represents an alternative way of funding entrepreneurial ventures -and is attracting a high amount of interest in research as well as practice. Against this background, this paper analyzes reward-based crowdfunding campaign strategies and their communication tools. To do this, 446 crowdfunding projects were gathered and empirically analyzed. Three different paths of successful crowdfunding projects could be identified and are described in detail. Practical implications of crowdfunding strategies are derived, and are dependent on the required sales effort and the project added value. The terms communicator, networker and self-runner are created for this crowdfunding strategy and filled with practical examples. This paper contributes to the literature in different ways: first, it sheds more light on the developing concept of crowdfunding, with an overview of current academic discussions on crowdfunding. Furthermore, the analysis of success factors for crowdfunding initiatives adds to an emerging area of research and allows entrepreneurs to extract best practice examples for increasing the probability of successful crowdfunding projects under consideration of the key influencing factors of communication. Códigos JEL: M13 O3 O31 O320r e s u m e n El crowdfunding representa un modo alternativo de financiar proyectos empresarialesy está atrayendo un gran interés tanto en el ámbito de la investigación como en la prác-tica. En este contexto, este artículo analiza las estrategias de campañas de crowdfunding de recompensa y sus herramientas de comunicación. Con este fin, se han reunido y

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Section: Definitionsmentioning

confidence: 99%

Strategies for reward-based crowdfunding campaigns

Kraus

Richter

Brem

et al. 2016

Journal of Innovation & Knowledge

168

113

View full text Add to dashboard Cite

show abstract

“…Social media and web 2.0 has been noticed to bring several benefits for the field of knowledge management, for instance enhancing networking and the use of weak ties [86], [74], [54], [43], [81], facilitating the mobilization of tacit knowledge [75], [86], [14], [9], [61], [74], knowledge acquisition [75], [86], [74], [54], organizing knowledge and information [74], information and knowledge sharing [54], and knowledge maturing [84], [8], [76], [85].…”

Section: Possibilities Of Social Media In K Nowledge M Anagementmentioning

confidence: 99%

Managing customer information and knowledge with social media in business-to-business companies

Kärkkäinen

Jussila

Janhonen

2011

Proceedings of the 11th International Conference on Knowledge Management and Knowledge Technologies

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“…Over time, Howe has also proposed several other definitions of crowdsourcing. Numerous definitions of crowdsourcing are available in the extant literature (see Ribiere and Tuggle, 2010;Sloane, 2011). For example, Estellés-Arolas and González-Ladrón-de-Guevara (2012) found that there are at least 40 original definitions of crowdsourcing in the current literature.…”

Section: What Is Crowdsourcing?mentioning

confidence: 99%

Embracing Open Innovation to Acquire External Ideas and Technologies and to Transfer Internal Ideas and Technologies Outside

Hossain

2016

SSRN Journal

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Altogether, the dissertation consists of nine substudies and a compendium summarizing the substudies.An extensive literature review was conducted on open innovation and crowdsourcing literature (substudies 1-4). In the subsequent empirical substudies, both qualitative research methods (substudies 5-7) and quantitative research methods (substudies 8-9) were applied. The four literature review substudies provided insights on the body of knowledge on open innovation and crowdsourcing. These substudies unveiled most of the influential articles, authors, and journals of open innovation and crowdsourcing disciplines. Moreover, they identified research gaps in the current literature.The empirical substudies offer several insightful findings. Substudy 5 shows how non-core ideas and technologies of a large firm can become valuable, especially for small firms. Intermediary platforms can find solutions to many pressing problems of large organizations by engaging renowned scientists from all over world (substudy 6). Intermediary platforms can also bring breakthrough innovations with novel mechanisms (substudy 7). Large firms are not only able to garner ideas by engaging their customers through crowdsourcing but they can also build long-lasting relations with their customers (substudies 8 and 9). Embracing open innovation brings challenges for firms too.Firms need to change their organizational structures in order to be able to fully benefit from open innovation. When crowdsourcing is successful, it produces a very large number of new ideas. This has the consequence that firms need to allocate a significant amount of resources in order to identify the most promising ideas. In an idea contest, customarily, only one or a few best ideas are rewarded (substudy 7). Sometimes, no reward is provided for the selected idea (substudies 8 and 9). Most of the ideas that are received are not implemented in practice.Keywords Open innovation, crowdsourcing, ideas, technologies, knowledge ISBN (printed) 978-952-60-6893-0 ISBN (pdf) 978-952-60-6894-7

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Fostering innovation with KM 2.0

Cited by 40 publications

References 8 publications

Strategies for reward-based crowdfunding campaigns

Strategies for reward-based crowdfunding campaigns

Managing customer information and knowledge with social media in business-to-business companies

Embracing Open Innovation to Acquire External Ideas and Technologies and to Transfer Internal Ideas and Technologies Outside

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