Every entrepreneurial business is a knowledge process. Businesses need to know what problems customers want to solve and the best means to solve them. However, the lack of knowledge means entrepreneurs can’t be cognizant of every problem or solution. New technologies and new forms of organization can circumvent these knowledge constraints. This paper looks at two approaches: crowdsourcing and marketplaces.
Encapsulation by Gabriele Marasti:
Ways For Businesses To Defy Knowledge Constraints. Crowds and Marketplaces
Original paper by H. Tajedin, A. Madhok and M. Keyhani:
A Theory of Digital Firm-Designed Markets: Defying Knowledge Constraints with Crowds and Marketplaces
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