Collaborative projects are explained in this article as social media applications, which helps the end users for joint and simultaneous formation of knowledge-related content. Collaborative projects have become well-known among various group of academics. As the applications like social bookmarking sites, wikis, online forums, and review sites are the most democratic form of social media and presents the idea of user-generated content in an effective way.
This article provides a detailed analysis of collaborative projects; the idea of wisdom of crowds, a vital condition for their working; and the motivation of readers and contributors. Particularly, this article helps the companies to figure out the ways in order to achieve potential results from collaborative projects and how these projects help to enhance the communication both externally and internally with stakeholders and employees respectively. It also provides the guidance to resolve the negative information scenario that is posted on collaborative projects and can cause a risk along with effecting the companies PR.
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