Wisdom of the Crowd within enterprises: Practices and challenges |
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| Affiliation: | 1. Science and Technology on Parallel and Distributed Processing Laboratory, College of Computer, National University of Defense Technology, Hunan Province 410073, China;2. College of Computer, National University of Defense Technology, Hunan Province 410073, China;1. Department of Oral and Maxillofacial Surgery, Saitama Medical Center, Saitama Medical University, Saitama, Japan;2. Department of Oral and Maxillofacial Surgery, National Defense Medical College, Saitama, Japan;1. Department of Management Information Systems, National Chengchi University, Taipei City 11605, Taiwan, ROC;2. Graduate Institute of Development Studies, National Chengchi University, Taipei City 11605, Taiwan, ROC;3. Department of Management Information Systems, National Chengchi University, Taipei City 11605, Taiwan, ROC;1. Department of Chemistry, Faculty of Science, Ochanomizu University, 2-1-1 Otsuka, Bunkyo-ku, Tokyo 112-8610, Japan;2. Foundation for Computational Science, FOCUS, 7-1-28 Minatojima-Minami, Chuo-ku, Kobe 650-0047, Japan;3. Physikalische und Theoretische Chemie, Fakultät für Mathematik und Naturwissenschaften, Bergische Universität Wuppertal, D-42097 Wuppertal, Germany |
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| Abstract: | The Wisdom of the Crowd advocates that decisions collectively made by a diverse crowd could be better than those made by an elite group of experts. The Wisdom of the Crowd puts preconditions on this to work correctly. This concerns the diversity of the crowd, their independence from each other, their decentralisation, and the methods of aggregating their distributed knowledge and forming collective decisions. Although the concept is inspiring, its interpretation and conduct differ significantly amongst enterprises, especially with regard to the culture and style of management. In addition, we still lack reflections on how the Wisdom of the Crowd worked in the practice of modern enterprises. To address this lack of knowledge, this paper conducts an empirical study following a mixed method approach involving 35 senior managers coming from 33 different industries in the UK. In the first phase we interview eight managers and, in the second, we confirm and enhance the results by a survey consisting of open-ended questions and involving 27 other managers. The results shed light on the current practice of the Wisdom of the Crowd in several UK enterprises, which can inform the analysis and design of future software tools meant to aid this emerging decision-making mechanism. |
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