However, traditional marketing activities’ high costs are often unaffordable. To receive funding, an adequate and effective communication between project initiators and supporters is very important. The panel explores economic, social, and technological implications of the collaborative economy, how digital technologies enable it, and how the massive sociotechnical systems embodied in these new peer platforms may evolve in response to the market and social forces that drive this emerging ecosystem.Ĭrowdfunding enables project initiators to obtain money from unknown supporters worldwide to finance their business ideas. This emerging paradigm, entitled the collaborative economy, is disruptive to the conventional company-driven economic paradigm as evidenced by the large number of peer-to-peer based services that have captured impressive market shares sectors ranging from transportation and hospitality to banking and risk capital. The movement toward this economy of "sharing" translates into market efficiencies that bear new products, reframe established services, have positive environmental effects, and may generate overall economic growth. #GRILL PERCZYNSKI WIRTSCHAFTSLEHRE DES KREDITWESENS PDF HOW TO#The configuration framework extends research on crowdfunding and service science by providing insights in how to support the systematic design of crowdfunding service systems, reducing their complexity, and giving a comprehensive overview over their building blocks.Īn economy based on the exchange of capital, assets and services between individuals has grown significantly, spurred by proliferation of internet-based platforms that allow people to share underutilized resources and trade with reasonably low transaction costs. Therefore, we followed three iterations, which comprise in total twelve expert interviews, three case studies and the analysis of 161 crowdfunding platforms. Therefore, we developed a crowdfunding service configuration framework in the form of a morphological box and derived three dominant design patterns by following a design science approach. The design and operation of such service systems represents a tough challenge. These comprise a complex combination of IT and non-IT services, different stakeholders, and diverging contexts and purposes. In contrast to traditional forms of funding, the service provision of crowdfunding platforms is performed within service systems. The paper provides a blueprint for business executives in their endeavor of embracing blockchain technology.Ĭrowdfunding gained momentum over the last few years. Our research is one of the first case studies in the area shedding light on the organizational challenges of incumbents as they engage with blockchain. We develop a framework illustrating how the process of discovering, incubating, and accelerating with blockchain can look like. We find that blockchain as an innovation is unique, because its transaction cost-lowering nature requires cooperation not only on an intra-organizational, but also on an inter-organizational level to fully leverage the technology. How should they respond to the advent of this innovative technology, and how can they build the capabilities that are necessary to successfully engage with blockchain? In this case study, we analyze how an incumbent bank deals with the radical innovation of blockchain. However, blockchain presents incumbent organizations with significant challenges. Blockchain is an emerging technology that is perceived as groundbreaking.
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