IENT101 Crowd sourcing ideas

  • What do you think are the advantages and disadvantages of sharing new business ideas openly and when do you think you should this?
  • Is this something you would be open to trying?
  • Where possible justify your assertions using credible sources (no fake news).

The advantages to sharing new business ideas are the combining many minds and skills will potentially generate a lot of ideas in a small amount of time and can be of low cost. which is key to new business. Goldcorp challange

The disadvantages of sharing business ideas are that sharing to much information with the public regarding your company or organization, you run the risk of someone misusing the information in a harmful manner. Which could be very harmful to your business.

I think crowd sourcing can work and is something i would definitely consider. i would use it as away to connect to my customers or other businesses and generate ideas, but not to control major decisions regarding the business.