Can The Sharing Economy Market Be Disruptive? The Traditional Economy?

From supply point of view, Airbnb can be used to increase the number of idle houses Extra income and can make new friends from all over the world. There is no doubt that this sharing economic type is benefit supplier and consumer which is host and guest. Due to convenient method of employ and approximate to zero cost margin for host; at the same time, the most guests can get their ideal living experience and lower expenditure compared to hote. Airbnb is the process of fasting grow speed and get more popularity. (Ryerson

Our company M320 developed an app facilitating sharing Textbooks and Notes based on the sharing economy. M320 app will allow students to share their textbooks and notes both virtually and shipping it to the person who orders it for the lesser cost. Our company goal is to minimize the cost of textbooks that each individual student has to spent. For example: The book originally cost $100, the person who wants the book will only have to pay 20% of the originally cost. Which in this case would be $20 plus shipping fees, which is much lower cost than the price of most book stores offer.

The sharing economy has its perks however also its inconveniences. Mary Dejevsky is the writer of “Uber and the “sharing economy” are leaps into the past, not the future”, and in the text she speaks on the downside of the sharing economy. “There are questions, too, about quality of life and fairness. What recourse do you have if you are a tenant or home-owner disturbed by anti-social short-stayers? If you are a neighbor woken by driveway customers slamming their doors at 6am? If pollution is increased by the many more cars plying for hire? If wages are further depressed by casualization?”, Dejevsky lists various of problems that people face or could face now that sharing economy is becoming a global thing. All the things she mentions are pretty

Additionally, AskforTask practices the idea of collaborative consumption, also identified as a sharing economy. The notion emphasises

KELLY: THIS WAS A GOOD PAPER AND I APPRECIATE THE TIME YOU SPENT EDITING AND PROOF READING IF FOR EFFECTIVENESS. YOUR WORK WOULD BE MORE EFFECTIVE IF YOU DREW MORE CONCLUSIONS FROM YOUR ANALYSIS. FOR EXAMPLE, IN THE FIVE FORCES, YOU SHOW MUCH THAT SUGGESTS THAT THE UBER BUSINESS MODEL WILL HAVE TROUBLE PRODUCING SUSTAINED PROFITABILITY. IF THAT IS SO, THEN WHY IS THE FIRM SO HIGHLY VALUED AND EXPANDING SO RAPIDLY? THIS SUGGESTS THAT THE ANALYSIS IS INCOMPLETE.

Sometimes referred to as collaborative consumption, other times the sharing economy, this movement is growing momentum at a stunning rate. Individuals are sharing anything from car rides to accommodation, to their front lawns to grow vegetables to even their pets. Whilst their industries are all different they all have significant factors that are the same. They are all disrupting conventional business models, impacting those traditional bottom lines and are doing so by providing platforms that promote peer to peer engagement, interaction and collaboration. This movement towards a collaborative economy affects so many of today’s industries and services and not just as a macro level, but more deeply effecting change within each industries ecosystem.

Uber has offered the ride-hailing service that connects individual drivers and passengers through their smartphone app. The company has grown by adopting the aggressive strategy: subsidising rides to keep fares down while rapidly expanding into new cities. However, because of the Uber’s cheaper service that substitutes and disrupts the heavily protected taxi industry, Uber has been the center of the controversy, although it has the innovative business model that benefits consumers. The strong reactions of angry taxi drivers and upset regulators brought Uber to legitimacy issues. Uber needs to decide a strategy to overcome legitimacy issues effectively.

Uber, an application that connects ride-hailing users with drivers, and Airbnb, an online lodging platform that derives its name from bed and breakfasts, have practically become synonymous with collaborative consumption. Companies compete to become the next “Uber of” an industry. There is an “Uber of flowers” that delivers bouquets, an “Uber of lawn care” that encourages lawnmower sharing, and even an “Uber of medical marijuana” (Entis, 2014). The analogy is precarious considering the variations between these companies, but the basic premise of the sharing

The sharing economy communities are not only for the young. The current stereotypical depiction of the sharing economy is that it is the space of tech-savvy, open-minded younger generations. However, it is factual that 35 of the 66 percent of people among global respondents

On this prepare I will talk about Uber and the sharing Economy. How Uber and sharing economy has connect and how the Uber company benefiting from this economic system. Also, I will try to discuss about greater worker flexibility and worker insecurity. What make us to claimed that Uber has a magnificent work flexibility and worker insecurity or does it add to a climate of worker insecurity? Or does it do both? If both, what is the predominate effect of Uber on workers? Is Uber’s ‘market-based’ model fair to consumers? Is it an effective way to eliminate market inefficiencies or is it a cash grab (or, again, both)? In the Uber. In addition to this how this Uber business have a positive and negative effects on other transportation system

Developing and experimenting with competitive solutions for ride-sharing services in response to Uber and Lyft is the best strategy for automotive companies such as Ford. Services such as “GoDrive” and similar programs have been launched by Ford in London and Germany and received positive feedback “after a successful 100-driver pilot, where the company has opened the program to 1900 more drivers” (Feinburg, 2015). Due to the success of Ford’s “GoDrive” services, Ford currently remodels its ride-sharing services after each trial run to sustain its long term growth.

The Internet has sparked the growth of the “sharing economy.” While people have always rented their stuff to others, the Internet allows them to reach more potential customers faster than ever before. Renting out a spare bedroom in Des Moines to a vacationing German couple or driving someone from downtown Brooklyn to midtown Manhattan for a meeting is a lot easier now than when the classified section of the newspaper was the bleeding edge technology.

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.

Competing in emerging industries: UBER has entered lots of emerging markets recently to compete against existing ride sharing companies. There is enormous trend of shared transport not only in developed countries like the US, but also in emerging economies where the GDP per capita is below $12000. Ride sharing is emerging in many countries like Chile, South Africa, India, Thailand and so on. Ordering rides through application rather than call. And rides offered by drivers using their private cars is emerging concept in many nations. UBER is using price cuts to attract the next layer of price-sensitive customers, also it is bundling the prices with UBEREATS to lower the price. As a result of being in emerging industry, UBER is pursuing new customer groups by entering into new geographical areas.

In the rapidly changing world, sharing economy broad out to hospitality, dinning, entertainment, media, transportation and even retail. Then what is ‘Sharing Economy’? The ‘sharing economy’ is a socio – economic model that people are able to borrow and sharing asset such as production, trade, creation and consumption of goods which owned by others. The Modern sharing economy is not only sharing their possessive of right but also, maximizing utility of value throughout sharing, exchanging or reusing. This report is aimed to critically analyze and evaluate the ‘sharing economy’ in hospitality supported by secondary sources involving ‘disruptive innovation’ theory by Clayton Christensen. Furthermore, this report will have discussed pros and cons