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Implications for entrepreneurs

For new businesses, the sharing economy presents tremendous opportunities, especially for those looking to start an online business (See our other course: Online Business Success on starting an online business). …

New strategy: peer-to-peer access

Another strategy for existing businesses is to switch to peer-to-peer access, however this will call for big retooling of the businesses’ operations. For instance, an existing taxi company can switch …

Implications: old business + new recipe

If you can’t beat them, join them…another way to compete with businesses in the sharing economy is to join it. The easier strategy here will be to switch to or …

Customer co-creation of products

Customers today are far more involved in the development of a company’s product, far more than they were. Companies today are involving their customers more actively to co-create its products. …

Using the existing recipe

Traditional business has the option of either changing their business model towards access over ownership, like the sharing economy, or maintain their existing model of selling ownership of products. The …

Implications for existing businesses

Existing businesses that use the traditional models based on ownership may find the sharing economy to be a serious threat to their profitability. Airbnb has added a layer of competition …

Implications for regulators

Overtime as industries and technologies have developed, regulations have had to adapt. This is no different in relationship to the share economy where many countries are being challenged to review …

Economic implications

The Sharing Economy in its current manifestation is a relatively new phenomenon, so robust data on economic impact is scarce. There are however several straightforward consequences such as redistribution of …

Environmental implications

The sharing economy reduces waste from consumption, thus providing better protection for the environment. This is because the production of goods often utilises natural resources from the environment and leads …

Implications for participants

The sharing economy has some important implications for people who engage in peer-to-peer access. It provides the opportunity for participants to draw extra income from their skills and assets. However, …

Implications for consumption

The sharing economy has provided consumers with new and instant access to goods and services. In previous weeks we have discussed many examples of companies that facilitate this access. One …

Sharing economy’s impact

The sharing economy is gradually changing the way we demand and access goods and services. With its revenue expected to increase more than 2000% by 2025, the sharing economy presents …

Check what you’ve learnt

You learned this week about the implications of the sharing economy on consumption, behaviour of peer-to-peer sharing participants and their reliance on trust currency. You considered how the environment benefits …

Discrimination

The sharing economy faces concerns about discrimination against consumers based on gender, race or religion. Media have reported that African-Americans were refused Airbnb reservations. A recent study by two researchers …

Regulation

Arguably, the biggest problem with the sharing economy is its lack of clarity within existing regulatory frameworks. The sharing economy presents a new and dynamic cyber commerce that existing regulation …