A Study on the Relationship between Crowdsourcing an Innovative Approach for Enhancing Industry Performance and Productivity in Medium Sector Industry

Crowdsourcing is the method in which the employees outsource a huge number of individuals to get the work obtained by them through the means of their idea generation of the product which enhances the quality of the company's goodwill. Democratic in nature is a vital component of this method. The present world is focused on Innovative concepts in the product development for the survival of the organization. Knowledge sharing of the ideas with each other should be must among the young innovators. Creating the value for the products and services in terms of quality helps in the overall growth of the organization. The study aims at finding out crowd sourcing perception by the employees. The second purpose makes to find out the performance of the industry in adopting the crowd sourcing method. The third objective of the study is to find out the relationship between crowdsourcing and performance of the industry. Crowd sourcing helps in motivating the employee to do different work away from their monotonous schedule. It helps to take strategic decisions easily and ultimately result in the attainment of business objectives. In this study, the investigator has used Likert type questionnaire to measure the perception level of the employees towards crowd sourcing. The sample size of the study is 100 employees in various IT companies which come under medium sector industry. The study uses simple random sampling techniques. The investigator makes use of the statistical analytic techniques like mean, variance analysis and correlation. The findings of the study revealed that there exists a positive relationship between the usage of crowd sourcing and industrial performance in the medium sector industry.