Assess The Impact Of The Gig Economy

“It’s a simple experience and a much more pleasant way to get a ride than stepping onto a busy street and waving at oncoming traffic” (Stone, 2014, p. 53). It is convenient for both the employee and customer to arrange a ride, which makes Uber preferable. Additionally, the employees of Uber are given more benefits than the employees of taxi companies. For example, Uber issues an iPhone with the Uber software, free gear to secure it to their windshield and an hour of orientation (Stone, 2014, p. 52). It is this simplicity that appeals to people seeking employment. They are also using a platform that is accessible to many of their customers, because, as of 2015, “64% of American adults now own a smartphone of some kind” (Smith, 2015). Since their focus is on luxury, innovation, and results, they have transformed the public transportation system in their favor.

Today’s on-line travel market is succeeding because the companies are using a more software-centric, online business model termed “E-commerce.” This has become the popular avenue for businesses as it mirrors the ideas of mobility. The sheer amount of data available, coupled with the advanced operating systems and social media platforms, have created new possibilities for E-commerce organizations. The infrastructure of E-commerce has expanded into platforms such as peer-to-peer networking, crowd-sourcing, social websites, and mobile devices and media. E-commerce trends are findings ways to incorporate every aspect of our daily lives into an online package associated with our everyday needs (Fishbein, 2013).

Ever since 2007, I had lost my job and had trouble finding work. T was forced to become a taxi driver to provide for my family. In the beginning when I started cab driving, it was enough to sustain my family. Then things went downhill when neighbor’s states open their own casinos, making Atlantic City have competition. Added the fact, Hurricane Sandy hit about 3 years ago. Atlantic it still has not recovered from that mega storm. Since Atlantic City is only a resort/tourist city, the economy of that city went down. Four casinos closed in the last 2 years. Tourist came by less and less each day. Limousine and Uber and other transportation companies made a lot of competition for the taxicab business. With less tourist and more competition, my

The “gig economy”, a terminological alternative to the sharing economy, is possibly the the next major workforce revolution. Providing many individuals means of gainful employment with schedules and opportunities that otherwise would not have been available, this economy of sharing is uncovering many vulnerabilities with the current state of affairs in theis country. Because of this, it could be said this new economic revolution is a double edged blade. Though this metaphor has foreboding connotations, the bennifit of te two edged blade is are more apparent when weilded by a sjulled practioner. As it stands, the gig economy is still in its infancy, so it isn’t surprising that those with a greater understanding of economies and group mobilization

Gig economy has grown fast and gotten big in recent years. It means that a worker is hired by a digital marketplace. This economy has expanded for a large number of people around this world and has given some new services. For example, some ride services such as Uber or Lyft as well as the home sharing sites which are Airbnb and Home Away. All these services have increased popularity for people. Many people are now working in a gig economy because they have the ability to choose how much to work and when to work. they can set their own hours to work. They also can move around into different places. The researches shows that “roughly 0.5 percent of workers now earn money through gig work.” Most of them are taking gig approach to earn money.

The use of ride-sharing applications has become a popular choice to travel from one destination to another. In the past, cities were dominated by the use of taxis as a means of ride choice. As technology and society has evolved, ride-share applications such as Lyft have become a dominating choice for travel. After completing a PEST and SWOT analysis, Lyft can analyze how to proceed going forward to continue its growth and success.

Actual express authority, this principle provides that the principle (Uber) enters an explicit agreement with the agent (drivers) to take part in a given action such as giving orders for them to transport people from one point to the other.

The path to the gig economy commenced with the advent of digital technologies through the internet in the 1990s; an explosion of the digital commerce led to the “dot-com” boom coupled with the onset of the Great Recession in 2009 (Meyer, 2016). The Great Recession marks a financial crisis that brought corporate mergers, investment bankruptcies and bank closures, which resulted in a decrease in available jobs for a large workforce. In line with

Uber is an innovative company that operates as a transportation company and a food delivery service around the globe. In addition, Uber is a company that was invented five years ago. Furthermore, during Uber’s early stages of development, the servicing company was referred to as “UberCAb”. Then an individual in San Francisco had decided to try out their service. From the individual’s first experience, the individual was very impressed. In addition, from that point, the company referred to as “UberCab” became commonly known as Uber. Also, Uber operates their service business in fifty eight different countries and have allocated over $60 billion in revenue. Uber faces many issues in their human resources operations implementation regarding drivers and internal employees.

Welcome to the sharing economy where you can have everything, but own nothing. It may sound like a riddle, but the developing industry is built on a single fundamental value: trust. As soon as people are able to walk and talk, they are faced with decisions regarding trust. A child shares toys with another child trusting it will be returned in the same condition. A teenager shares secrets with a friend, trusting it will be kept a secret. Adults are riding in cars with strangers trusting they will make it safely to their destination. The sharing economy allows individuals to “[buy or sell] usually temporary access” to a variety of goods and services through the use of technology (Merriam-Webster). Individuals and corporations are sharing anything they can market: their cars, homes, skill sets, wifi, and more. These changes in traditional consumption spurred by the sharing economy create opportunities for innovation and employment, but the growth has resulted in disruption of traditional businesses and created gaps in insurance. As wholesale insurers attempt to bridge this gap and mitigate disruption, they will be faced with threats of high liability exposures and complex claims. However, successfully bridging the gap will produce possibilities for new coverages, programs, and customers.

They used to tell you not to get into a car with strangers that you’ve never met before. Nowadays, it’s almost easier than ever to get into that situation. With ridesharing services becoming an ever more popular option for people to get around in cities, there has also been a change in the culture of transportation around the world. There are many benefits as a well as negatives to such rideshare services such as Uber, Lyft, Didi Chuxing, Careem, and Grab. Now with nearly a median of 43% of people in the world that owns a smartphone, it’s never been easier to access ridesharing applications (Poushter, 2016). These ridesharing apps aren’t such smoothing sailing ideas and has met a lot of opposition to get to where it is today. Yet despite all these hurdles it comes with, ridesharing applications is the way of getting around in the future as it creates job opportunities and offers better service.

The writer has delivered his thoughts on the concept of SHARING ECONOMY based on an insider’s view who has been actively involved with the multiple business platforms created as part of the sharing economy. The pros and cons as a business owner in a sharing economy have been displayed and also expert opinions on the concept have been outlined to a brief extent.

On the one hand, Uber has truly revolutionized the world market taxi, actively developing and spending millions of dollars to improve services and access to new markets and social programs, resulting in an increase in the number of users and revenues several times a year. This growth rate is very attractive to the investors, especially in an era of near-zero interest rates and excess market liquidity.

I would definitely support the gig economy from the perspective of saving resources. I believe business and individual save resources, such as times, office space, work skills training etc. in a gig economy. For individuals, the gig economy does benefit them in terms of flexibility in the schedule etc. The workers can choose the jobs that they are interested in or have extra time to do. Although there are some disadvantages for individuals in this economy, such as the absence of protection for minimum wage, insurance, a minimum of paid holiday and sick leave etc. I think the laws will be gradually built to adjust and regulate the new economy.

Technological advancements spurred the creation of a digital and sharing economy. It is easier than ever for two people from different locations to connect and do business with one another. With the evolvement of the sharing economy, a smartphone application by the name of Uber has been born and is a potential monopoly in the making. This essay aims to answer the following question: What growth strategies have Uber used in the market and what impact do these strategies have on the market? To answer this question the author will examine Uber role in the sharing economy, platform development strategies and pricing schemes used by Uber, and Uber’s impact on the car ownership industry. Many of these themes such as pricing