OUTSOURCING

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Outsourcing is an allocation of specific business processes to a specialist external service provider. Most of the times an organization cannot handle all aspects of a business process internally. Additionally some processes are temporary and the organization does not intend Read More …

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NETWORKING

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Networks are social relationships which individual entrepreneurs engage in during the entrepreneurial process. Networks are important during creation of enterprises as well as during their management where the owners obtain mutual support or assistance. This helps them overcome challenges within Read More …

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Drawbacks of Crowdsourcing

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Research shows that crowdsourcing can favor popular opinion Crowdsourcing can be expensive Crowdsourcing can be unreliable Crowdsourcing requires no or little expertise from participants No supervision of participants  

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Benefits of Crowdsourcing

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Increased cost-effectiveness Improved business capabilities Reduced time to market and faster project delivery Information can be collected quickly and efficiently. Crowdsourcing benefits firms potentially contributing significantly to innovation with careful analysis. Easy access to a global workforce with a Read More …

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Benefits of Crowdfunding

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Reach – By using a crowdfunding platform , you have access to thousands of accredited investors who can see, interact with, and share your fundraising campaign. Presentation – By creating a crowdfunding campaign, you go through the invaluable process of Read More …

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Types of Crowdfunding

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In rewards-based crowdfunding, backers give a small amount of money in exchange for a reward. In donation-based crowdfunding, donors donate a small amount of money in exchange for gratitude and the feeling of supporting a cause they believe in. In Read More …

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