Case Study The Sharing Economy - 1821 Words

Jefferson Barros Prof. David Levy MGT-330 Nov. 24, 2015 Case Study: The Sharing Economy This reflective case study is about the Sharing Economy and how businesses have since evolved from the Machine Age era to now communicating in the Information Age. There has been an enormous shift from traditional industry that the Industrial Revolution brought through industrialization, to an economy based on information computerization. With the rise of services we have entered into a new economy known as the sharing or peer-to-peer economy. These services provided which creates a Shared Economy allows individuals to provide a service, often at a cheaper rate than the standard market price, to a large network of users through a branded platform, which†¦show more content†¦This new economic model has had a significant impact on a variety of industries, and is mostly widespread in the travel, mobility and finance industry. Technology has altered modern day life in many ways, especially in the workplace. The invention of computers, the miniaturization of electronics and the development of wireless communication have all altered the business world. Business communication, in particular, has seen some of the greatest advancements due to technological developments. The role of technology comes into place with Sharing Economy because majority of the platforms are accessible online or through applications on the smartphone. The Sharing Economy only exists when people are willing to share with one another therefore allowing the communication through technology. The Sharing Economy is one of the most fascinating, powerful and yet vulnerable economic business models out there today. Understanding the core values behind sharing is also crucial. People share, mainly, because of four reasons: social reasons (to meet new people), economic reasons (to save money), practical reasons (to save time) and sustainable reasons (to protect the environment). For the social side of ‘sharing’ means meeting new people by staying in their homes (AirBnb), renting their car (RelayRides) or even catching a ride (Uber) is all part of the charm. As well as the background checks carried out by platform owners, online reviews and ratings are usually posted by both