Chapter 3 Crowdsourcing, Crowdfunding and Outsourcing

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Entrepreneur

businesspeople who take risks and start something new

subsidiary

a company that is owned by a larger company

Crowdfunding

Helps small business to procure funds for specific projects (soliciting financial support)

Prevalent

Existing commonly or happening frequently

Valid

based on truth or reason

Sector

one of the areas of activity that a country's economy is divided into

Crowdsourcing

Jobs are microtasked to willing workers in an online community / collective knowledge

Soliciting

To ask for something in a persuasive way

Subsidiary

a company that is owned by another company

Patriotism

a feeling of love for one's country

Foothold

a situation in which someone has obtained the power or influence needed to get what is wanted

Security

a situation without risk or danger

Backlash

a strong, negative response

Paradigm

a very clear or typical example used as a model]

Venture

activity or plan of action, often in business that involves risks or uncertainty

Regulations

an official rule or law

Enterprise

an organization or a difficult and important plan, especially one that will earn money

Entities

an organization that has its own separate legal and finance existence

Frustrated

annoyed; disappointed and discouraged

Core

central or most important

Merchandise

goods that are bought and sold

Pivotal

important because other things depend on it

Standardize

made the same as others of its type

Initiative

new attempts to achieve a goal or solve a problem

Unresolved

not solved or ended

Advocate

someone who speaks in support of an idea or course of action

Hindrance

something that limits a person's or thing's growth or development

Execution

the act of doing in a planned way

Reliance

the condition of depending on someone or something

Confines

the limits or borders of something

core

the most important or basic part of something

Productivity

the rate at which a person, company or country does useful work

Resolution

the smallest degree of detail visible in an image

Consolidated

to bring together or unite things that were separated

assemble

to bring together the parts of something

Provoke

to cause a particular feeling or reaction

Reverse

to cause something to go in the other direction

Transcribe

to change a piece of writing or music into another form

Streamline

to change something so that it works better, especially by making it simpler

Convert

to change the character or appearance of something

Delegate

to give a particular job to someone in a lower position so that they will do it for you

Thrive

to grow, to develop, or become successful

Automate

to make something happen by using computers or machines

Procure

to obtain something with great effort

Secure

to obtain something, sometimes with difficulty,

Downsize

to reduce the number of employees as part of a larger change in a company

Leverage

to spread or use resources in a way to gain an advantage

Floundler

to struggle, to be in an awkward or difficult situation

Capital

wealth, especially money used to produce more wealth


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