How can firms benefit from external and internal crowdsoursing

Abstract

This master thesis shows my research on the ultimate benefits of crowdsourcing and most importantly what the key elements are to develop a beneficial crowdsourcing strategy within the company. I made a clear distinction between the key elements for internal and external crowdsourcing. Furthermore, I thoroughly analysed the possible managerial challenges and struggles in setting up a crowdsourcing program in a firm. Then I determined how these can be avoided. I end with a managerial guideline I developed with the key elements on how to implement a crowdsourcing strategy in a company and thus set up successful crowdsourcing projects as a manager.