Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

crowdsourcing

A business model or function that relies on a large group of users as third parties for outsourcing certain tasks. The popular use of the internet makes communication and coordination progressively cheap: tasks that would have been impossible to communicate and coordinate before have become extremely easy to set up and coordinate.

Crowdsourcing can add significant value to a product or service, and can also generate valuable connections between the users and the company.

ExampleGoogle builds its...