Bertrand Duperrin's Library tagged compensation →  View Popular

Some have predicted that crowdsourcing is the future of the marketing, advertising, and industrial design industries. The phenomenon, they argue, will accelerate creativity across a larger network.

Others, meanwhile, have predicted this practice of opening up a task to the public instead of keeping it in-house or using a contractor will be the demise of those businesses because of the downward pressure on prices. If LG crowdsources a new cell phone design on CrowdSpring for $20,000, as it did recently, what happens to the old model of paying a design firm millions of dollars for the same project?

So which is it? Does crowdsourcing represent the beginning of the end of creative organizations? Or does it herald the beginning of something bigger and transformational for those agencies—and for business in general?

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innovation crowdsourcing compensation rewar

There are many, many instances of financial incentives driving behavior that then causes organizations major problems. This fact raises the question of why no one ever seems to learn anything—which explains why the current situation with home mortgages looks remarkably like the case of making bad loans to countries that couldn’t repay them about 25 years ago and a little like the savings and loan mess of the late 1980s.

I can point to three key reasons why collectively we seem to learn nothing from past mistakes:

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management incentive learning compensation