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What Is Crowdsourcing? What Benefits Does Crowdsourcing Provide Companies? What

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What is crowdsourcing? What benefits does crowdsourcing provide companies? What are the risks/concerns associated with crowdsourcing? Suppose you want to start your own business, would you consider crowdsourcing (why or why not)? Suppose you are the CEO of a large business, would you consider crowdsourcing (why or why not)?


Definitions:

Prescription Drug

A medication that legally requires a medical prescription to be dispensed.

Outsource

The practice of hiring third-party vendors to perform services or produce goods that were previously handled in-house.

Cafeteria Plans

A type of employee benefit plan that allows workers to choose from a variety of pre-tax benefits, adjusting the plan to their personal needs.

Professional Vendor

A company or individual that provides specialized services or products to businesses under a contractual agreement.

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