An Integrative Model of Crowdsourcing and Intellectual Capital on Effective Enterprise Renewal
Faced with a changing business environment and increasing competition, enterprises have started looking for innovative solutions beyond hierarch organizational boundaries. The community of crowds can be employed as a valuable factor in an enterprise’s innovation process to create value and upgrade its knowledge base. The present paper seeks to understand the role of the crowdsourcing mechanism through the intellectual capital framework, resulting in a renewed knowledge base. The model was empirically tested using a data set obtained through a questionnaire fulfilled by representatives of enterprises in the Republic of Srpska, Bosnia and Herzegovina, using partial least squares structural equation modelling. The findings reveal that crowdsourcing causes significant linkages between intellectual capital dimensions among which crowdsourcing-human capital and crowdsourcing-structural capital contribute more to enterprise renewal of knowledge base. Research results could assist managers in strategic decisions in resource allocation in promoting and sustaining knowledge dissemination to increase the renewal capability of enterprises.