ContentsExecutive summary2INTRODUCTION2GLOBAL CROWDSOURCING PLATFORMS2VALUE PROPOSITION3BUSINESS CANVAS MODEL for oDesk6BUSINESS MODEL ANALYSIS7Key Partners:7Key Activities:7Key resources:7Value proposition:7Customer relationships:7Channels:8Customer segment:8Revenue streams8Costs8STRENGTHS OF oDesks BUSINESS MODEL8LEVERAGE ON TECHNOLOGY FOR VALUE CREATION9PROPOSAL OF POTENTIAL OPPORTUNITIES AND RISKS10CONCLUSION11APPENDIX A - CLIENT- MARKET STANDING12REFERENCES14

Executive summary

INTRODUCTIONThis business report by Australian International Information Systems (AIIS) Consultancy investigates the suitability of prominent global crowdsourcing platforms in market to establish new marketing strategies for the American fashion retail chain, Forever 21. The term Crowdsourcing is a combination of the words crowd and outsourcing, meaning to distribute or outsource work to a crowd. AIIS has defined crowdsourcing as a method of obtaining essential knowledge, services, and ideas by engaging a group of people, commonly through internet. This method is widely adapted today, by a range of industries at various levels as result of the improving growth in web connectivity and technology. The report initially analyses in-depth the services rendered by leading global crowdsourcing platforms to their target market and among them identifies the most appropriate choice for the client. Proceeding this the report illustrates and describes in-depth the business model of the best choice. Further, AIIS have also implemented SWOT analysis to determine the strength, weakness, opportunities and the threats of client and the business model. Lastly, we have further analysed the potential risks and opportunities and recommended the most effective key initiatives and trends that could be implemented by Forever 21. GLOBAL CROWDSOURCING PLATFORMSThis section of the report analyses the target market of five leading global crowd sourcing platforms and outlines their accomplished services and proposed value to both seekers and solvers. As mentioned earlier, crowdsourcing is a process of obtaining required services, skills and ideas by the contribution of a crowd. This method has become a success as it could provide the best solution at a short period of time than the traditional method. Figure X Businesses and entrepreneurs (Seekers) can broadcast their job tasks on crowdsourcing platforms and hire workforce (Solvers) beyond the geographical limits, who are willing and interested in terms of work, money and other rewards (value propositions).VALUE PROPOSITION

Type Target Market Seekers SolversPros and Cons

MTurk

MTurk uses crowdsourcing to jobs where human intelligence is essential, this includes tasks such as classifying and processing pictures to identify missing individuals and items by image processing, recording audios, detailing information about products and services, reproduce unclear handwriting and lastly procedures that involve collection of data or research material for experimental studies and industrial surveys (1A).Target seekers are small businesses and enterprises.Seekers have access to on-demand and scalable workforce. Ability connect with multiple solvers from with a range of skills and fast turnaround overall.Target solvers are unemployed workers and those who are seeking flexibility in their careers. Also solvers may be eligible for monetary purchases and deals on Amazon, and may extra income 1 B. Comparatively it is low-cost and online employees recruiting require short time to and less expensive. Seekers and solvers remain anonymous. Companies may have their goals achieved at low price and on time. Employees gain promotion as Master Turk as a recognition for their performance.

Freelancer

Freelancer is the largest crowdsourcing platform with 8.2 million small business contractors with projects worth of US $1.2 billion. Usually freelancer involves industries such as administration, web, software developments and designing, writing, translations, sales and marketing.Target seekers are usually small businesses from various technical fields. Seekers attain diverse inputs from solvers, including creativity, innovation and professional skills.Provides job opportunities to PHP developers, web designers, and to qualified writers, editors and translators.Non-transparent team managements, team performance cannot be tracked.

ODesk

oDesk is another global crowdsourcing platform that allows the management to interview, ensure qualification and hire their solvers for crowdsourcing tasks. It allows individuals to create their own professional profile using which they can bid on any freelancer task. oDesks interest areas are similar to Freelancer (2).

Target seekers are enterprises and small businesses. All the above mentioned value propositions are attained by seekers.General solvers are web designers, developers, content writers, editors, translators etc. oDesk also follows a win-win approach where they guarantee the employees their pay for all work performed.

They also receive quantitative (stars) and qualitative feedbacks.Very transparent compared to other platforms, allows to work as team in a virtual environment.

Comparatively contractors earn $920,000 whereas contractors earn US $150,000 and US$740,000 in MTurk and Freelancer respectively.

Would You Rock This (WYRT) is a crowdsourcing website that allows fashion designers and individual interested in fashion to publish their garment design and accessories to clients.WYRT

Overall its a crowdsourcing platform to reach wide range of creative ideas and innovation for the new generation 3.Seekers gain access to fresh, creative ideas and multiple innovations via this platform. Value proposition for seekers include strong customer and public involvements, customer/public feedbacks.Student designers and other Designers have media to publish their innovation and gain funding from a wide market.Solvers gain more exposure to their work, self-satisfaction, compensations and seekers get access to unique ideas, strong customer feedbacks and bonds.

Spoonflower

Spoonflower is also another crowdsourcing platform that may interest our client, it allows individuals to upload their designs and to get it printed on preferred fabric. Spoonflower also allows customers to purchase these uniquely designed fabrics. It offers 10% commission to the designers.

Seekers gain value propositions similar to WYRT.Students, Designers and craftsmen who do not have an accomplished platform are able publish their work to public and other enterprises.Pros and cons are similar to WYRT.

ODesk

Type Target Market Seekers SolversPros and Cons

AIIS Consulting Australian International Information Systems Consultancy

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BUSINESS CANVAS MODEL for oDesk

BUSINESS MODEL ANALYSIS

The above shows the visual presentation of Business Model Canvas proposed by Alex Osterwalder for oDesk. This model was developed by AIIS to indicate the key partners, key activities, key resources, value propositions, customer relationships, channels, customer segments, cost structure and revenue streams that add stability and value to oDesks performance. Key Partners:Key partners of oDesk include freelancers, contractors, clients and managerial team of oDesk. Key partners play a major role in the optimization, growth and oDesks economy. In other hand, effective performance of this segment reduces risks and uncertainties that have a direct acquisition on the resources and activities of oDesk 6.Key Activities: Key activities of businesses are usually to engage in production, problem solving and networking. oDesks business key activities are to associate client and contractors, engage in problem solving, project tasks and allow networking through crowdsourcing platform. Unlike other global crowd sourcing platforms, oDesk maintains an active billing and payment platform and utilizes numerous advanced online tools to promote effective collaboration beyond geographical limits.Key resources:Key resources of businesses include physical, intellectual, human and financial (6). Primary key resources of oDesk are intellectual and human, as the key activities of oDesk involve human intelligence in documenting solutions and simplifying business problems. oDesk also has a funding of 15 million from series C financing.Value proposition:This element of the business canvas model signifies the value that a business aims to offer to its clients and customers. oDesk has developed into a meritocracy environment, where it ensures contractors and freelancers are delivered with feedback after every project. This feedback is available both quantitatively and qualitatively. Furthermore, contractors are also offered with free skill test adding on to their self-made portfolios. Adding on oDesk also follows a guaranteed payment billing scheme for freelancers based on the number of hours logged in the system. Overall among all available crowdsourcing platforms oDesk standouts due to its core application of transparency and visibility. Customer relationships:oDesk effectively manages its customer relationships by frequent communication and via its transparent work environment. This strong customer (client and freelancer) relationships has led to its brand image and reputation among all crowdsourcing platforms. oDesk ensures the dominance of trust , transparency, teamwork between seekers and solvers by their inbuilt work policies and principles. Channels:Osterwalder business model consists of five channel phases this includes awareness, evaluation, purchase, delivery and after sales. oDesks purchase phases are controlled by businesses that hire manage and pay professional experts all around the globe with click of a button. Delivery phase of oDesks are its workforce or the freelancers, who have the freedom of choosing to when and what to work on what to charge. Aftersales and evaluation phases of oDesk allows clients to rate the performance of freelancer. This allows solver to gain reputation and higher potential as a freelancer in the crowdsourcing market. Awareness of oDesk is attained by advertisements, word of mouth and social networks.Customer segment:Osterwalder has categorised customer segment in business canvas model as mass, niche, diversified and multi-sided platforms. oDesk belongs to diversified customer segment as it provide miscellaneous services to multiple clients around the world.Revenue streamsoDesks main stream of income is via its membership payments and commissions. oDesks commission is 10% on projects completed through the platform. Secondly, revenue is earned by premium and plus memberships of clients and freelancer profiles.CostsCosts of oDesks primarily includes administration costs, web developments and maintenance costs, costs related to upgrading software packages and other system improvements.STRENGTHS OF oDesks BUSINESS MODEL Customer relations are well defined providing opportunity for both clients and freelancer to collaborate. oDesk representatives respond promptly with guidance.

Customer segment- DiversifiedDiversified market of oDesk contains numerous jobs and job providers, so there is a wide range of option providing a wide crowdsourcing platform.

Value proposition to seekers and solvers: oDesk guarantees payments on hour basis. It is featured to automatically suspend the contract if client has fewer funds meet solvers logged time.Transparent, safe and secure work environment:Unlike other crowdsourcing platforms oDesk provides high security credential for freelancers and clients. It also maintains are visible, transparent relationship between the client and the solver.oDesk allows clients to rate freelancer and comments could be added to their profile, this has resulted oDesk being the most preferred platform

LEVERAGE ON TECHNOLOGY FOR VALUE CREATION

In this section, AIIS has compiled how oDesk utilises technology to create value to its seekers and solvers. oDesk leverages a work culture that is transparent and safe to its clients and freelancers. This has resulted in a trustful and cohesive global workforce. oDesk believes that the three key technical components below have enabled them to succeed in the diversified business market.Technical features of oDesks Team and Client software: Work diary feature of this software allows to track down the real-time visibility that indicates the total work hours a solver has taken to perform a task. Moreover, the software also supports team members (freelancer) to have access to relevant team rooms, where they can communicate to share ideas on projects they are working. This feature of crowdsourcing platform creates a traditional but virtual work environment for the clients and solvers. The software is also programmed to take screen captures of freelancers workstation randomly during work hours. This feature implies 100% transparency between client and solver, simply providing a strong basis of trust, safety and sincerity (REF)Web based tools: oDesk utilises Subversion, Bugzilia and Team room to provide and share information regarding work with no limitations. These software integration allows managerial team of oDesk to manage source-code and task tracking of the system. Google sites are used by oDesk to store client documents. Furthermore, Skype, oDesk screen snap share, chat and email are widely used for team based collaboration. oDesks payment platform: oDesk Team software and its work diary feature have the ability automatically track the time of a freelancer. These features integrates with the system to identify the real-time visibility of all solver expenditures by the day, and relates them to tasks via the screen snaps. It is also very simple for the all team members to cash their pay by withdrawing earning from oDesk accounts using their preferred methods, such as PayPal, oDesk debit MasterCard, direct deposit or money bookers. Overall oDesk is a fast, safe, transparent and reliable global crowdsourcing platform. Integration of technology in oDesk, has proved that businesses do not require to have a traditional setting to succeed in world market.

PROPOSAL OF POTENTIAL OPPORTUNITIES AND RISKS

CONCLUSION

Appendix A CLIENT- MARKET STANDINGOur client Forever 21 is a fast-fashion retailer with approximately 480 stores worldwide including United States, Europe, Japan, Philippines and Korea. The company employs 30, 0000 people and total sales revenue is estimated as 3.85 billion for the year ended on the 28th February, 2014. It has been listed as the 118th among Americas largest Private companies. The company is a combination of brands Forever 21, Heritage 1981, Forever 21 Girls and 21 Men.SWOT Analysis for Forever 21

Possible influences a crowdsourcing campaign may create success for Forever 211) Develop and maintain an active website that features and sells outfits and accessories to consumer, also enable Instagram, Facebook integration where shoppers can select items via these social networks.2) Create social network pages for consumers advertising the products.3) Social network sites also serves as reviews that may be very useful for retail purposes.4) These social community may contains professionals, who may share their views on products that will raise the brand image and consumer trust.Past study and research on shoppers reveal that the majority of the online shoppers are influenced by online reviews and ratings.5) Forever 21 is a fast fashion store, so majority of the shoppers are concerned about the trend rather than quality. Thereby, having active social website will (eg: Facebook and Instagram pictures) successfully exhibit the current trend.

REFERENCES http://dailycrowdsource.com/training/crowdsourcing/what-is-crowdsourcing)1) A http://delivery.acm.org/10.1145/1360000/1357127/p453-kittur.pdf?ip=130.216.70.137&id=1357127&acc=ACTIVE%20SERVICE&key=65D80644F295BC0D%2E1A1C2C69CF2E7D6D%2E4D4702B0C3E38B35%2E4D4702B0C3E38B35&CFID=663365689&CFTOKEN=87308118&__acm__=1429067798_0a71bb2cbeb5e7cd4ce5c0492864e303

B. https://requester.mturk.com/tour

2) https://www.odesk.com/

3) WYRT: http://wouldyourockthis.com/blog/2011/06/recapping-saturdays-demo-discussion-potluck/

4) http://elance-odesk.com/press/odesk-secures-15-million-series-c-funding

5)

6) Business canvas model: http://www.reser.net/materiali/priloge/slo/mkel_et_al.pdf7) http://whitehorse.digital/content-hero-5-forever-21/

http://datacolada.org/wp-content/uploads/2014/04/Berinsky-Huber-Lenz-2012.pdf (for mturk),http://outsourcing-services.findthebest.com/l/16/Freelancerhttp://www.elance-oDesk.com/team