Althoughthere should be sufficient resources in product development, there isa possibility that the lack of resources can make the productdevelopers to implement new solutions in the market. This can be doneby ensuring that the process of product development is utilized inthe company (Hoel, Weiss, Gibbert, and Valikangas, 2009). Therefore,the scarce resources do not mean that the innovation projects cannotwork, but it all depends on the product developers.
Asthe firms are dealing with leverage capabilities to enter the newmarkets, there is a reason to include the cross-functional teams fromthe different areas of expertise to ensure that the innovation to beimplemented is successful by aligning the technology change (Santa,Bretherton, Ferrer, Soosay, and Hyland, 2011). Innovationorientation as well can have either a positive or adverse effect onthe performance of the company. Though in a highly dynamicenvironment, change orientation is likely to yield positive resultsin performance (Wu, Dou, Du and Jiang, 2015).
Itis true that crowdsourcing has helped in engaging the different typesand scores of consumers however, it also comes along with somechallenges. The crowdsourcing projects have social challenges becauseof the translation of languages to enhance communication (Eggers,2014). Apart from the crowdsourcing models that were suggested byKohler, other models come with financial rewards. This isparticularly true where the crowd is used to solve problems that canbe proved empirically but on the other side, the source of thesolution that has been generated is not known. Addressing such achallenge is a risk that most firms will try to solve while they areusing these crowdsourcing models (Marjanovic, Fry, and Chataway,2012). The uncertainty of the solutions makes the results obtained tobe of high risk and the users ought to be cautious. Despite thesechallenges, crowdsourcing is very useful to companies that haveadopted it, and the benefits extend to the society as a whole.Companies such as NeFlix and YouTube have extensively employed theuse of this technology (Hupp, 2009).
Eggers,W. (2014). Crowd-sourcing Social Problems. Reason,45(8),44-50.
Hoegl,M., Weiss, M., Gibbert, M., & Välikangas, L. (2009). Strategiesfor Breakthrough Innovation. LeaderTo Leader,2009(54),13-19.
Hupp,S. L. (2009). Crowdsourcing: Why the Power of the Crowd Is Drivingthe Future of Business. LibraryJournal,134(1),50.
Marjanovic,S., Fry, C., & Chataway, J. (2012). Crowdsourcing Based BusinessModels: In Search of Evidence for Innovation 2.0. Science& Public Policy (SPP),39(3),318-332. doi:10.1093/scipol/scs009.
Santa,R., Bretherton, P., Ferrer, M., Soosay, C., & Hyland, P. (2011).The Role of Cross-Functional Teams on the Alignment betweenTechnology Innovation Effectiveness and Operational Effectiveness.InternationalJournal of Technology Management,55(1/2),122-137.
Wu,X., Dou, W., Du, J., & Jiang, Y. (2015). Production NetworkPositions, Innovation Orientation and Environmental Dynamics: Anempirical Analysis of Chinese firms. InternationalJournal of Technology Management,67(1),77-102. doi:10.1504/IJTM.2015.065888