Many companies are finding that it's both cost efficient and productive to call on outsiders from around the world to solve problems their own researchers can't handle. The Internet provides a great mechanism for assembling the solutions. A new term to describe this strategy is ________.

Question

Quizplus · Accepted Answer

The term that describes this strategy is crowdsourcing. It involves calling on a large group of people, often from around the world, to help solve problems or provide solutions. The Internet is used as a platform to assemble the ideas and solutions generated by the crowd, which can be more cost-effective and productive than relying solely on internal research and development teams.

Many Companies Are Finding That It's Both Cost Efficient and Productive