What Are The Risks ?
While crowd-sourcing is emerging as a favourable trend , there are a number of challenges that organizations have to face in order to develop an efficient crowd-sourcing platform . The primary challenge faced by organizations these days is to recruit and to retain the users or participants for crowd-sourcing . Also , the type , nature and overall value of contributions and how they may aid in problem solving are a challenge . Lastly , the evaluation of the overall contributions in relation to a target problem is a challenge as well . Other than this , there are also a host of risks associated with crowd-sourcing . These include the risks of lost control , deterioration in the internal knowledge base and ( in ) consideration of legal conditions .
What Are The Benefits ?
Despite these risks the benefits of outsourcing are abundant and plenty . Through efficient management , an organization can easily exploit the cost cutting potential of this activity . In addition , it allows businesses to connect with their customers and increase brand loyalty . It would be safe to conclude that the added flexibility to processes and the lesser time-to-market have encouraged businesses to further explore crowd-sourcing despite the associated risks .
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