Chapter 3 Crowdsourcing, Crowdfunding and Outsourcing
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
