Issues Relating to the Sharing Economy-Free-Samples for Students

Question: Write a business report that investigates and analyses the issues relating to the sharing economy from a business perspective by reading and analyzing relevant scholarly articles, using contemporary examples and providing a personal reflection. Answer: Introduction Share economy can be easily defined as the sharing of assets and services between private individual by the help of internet. It generally focuses on providing production, distribution, and consumption of goods which are mainly served by various people and organization (Hamari, Sjklint and Ukkonen, 2016). Sharing economy also focuses on providing a peer to peer platforms along with making use of the providers so as to exchange and purchase of goods. The main benefits which can be obtained from new technologies are driving sustainable economic and large number of benefits to environmental (Zervas, Proserpio, and Byers, 2017). This can be achieved only by cutting down on costs, conservation, and reduction of a large number of environmental impacts. Consumers, suppliers and on-demand technology are considered to be critical elements for the sharing economy. The report mainly consists of an explanation regarding sharing economy. After that, a brief description of the benefits and limitation of sharing economy has been provided. From the list of crowdsourcing websites, a suitable website has been selected. After that, a reflection has been provided share economy and its importance in the workplace. An analysis has been done regarding the future of sharing economy. Discussion Explanation of Sharing of economy Sharing of the economy is new kind of concept or idea in which various kinds of IT-based products or services are used, sharing along with leased for individuals and organization (Schor, 2016). It generally allows multiple kinds of end users to easily develop and consumption of a large number of IT services. It also focuses on purchasing and maintaining of them on individuals standards. Sharing economy is also known to be share economy, peer economy, mesh economy and makes it is known to be collaborative consumption. It generally targets economic targets individuals and organization (Cusumano, 2017). Sharing economy is for the individuals and organization which cannot easily target the cost of buying and maintaining of various kinds of IT based solution. This kind of concept is generally implemented by making use of consumption of the various kinds solution provided by the IT service providers. Crowdsourcing is considered to be another kind of platform which can easily help the engin eers, developers and other kinds of IT resource for the creation of application by working together for benefiting the end products and services. Cloud computing is known to be focused on sharing economy (Acharya et al., 2017). It is much focused to provide infrastructure for a largely established economy. Benefits of sharing economy The benefits of share economy have been described below: Resource utilization: It focuses on efficient utilization of resources which can easily provide better kind of matching in a particular kind of segment. The consumer is generally considered to be pivot or center in which the whole economy revolves (Edelman, Luca, and Svirsky, 2017). As the world becomes mobile, it is expected that most of the consumer can easily make use of information and services which are present at the bottom of it. On-demand services and other kinds of information related to work are considered an efficient basis. Job Creation: Sharing economy focus on increasing in a number of opportunities around the globe. With the emergence of sharing economy, a road to self-employment was made easier (Martin, 2016). Various kinds of technology platform focused on the creation of massive kinds of opportunities for employing delivering the address. Social Mobility: Share economy has focused on providing employment market to a large number of workers present in the market (Mhlmann, 2015). One of the vital benefits provided to the platform is the creation of a large number of job for people. Skill Development: Sharing economy allows people to make better utilization of skills and talents. Technological development has ultimately led to the improvement of technological skills. In addition to boasting of the technology of unorganized workforce, it also leads to investing in the behavior of skills of a large number of drivers (Ert, Fleischer and Magen, 2016). Limitation of the sharing economy There are several disadvantages of sharing economy some of them are listed below: Concern regarding the privacy and security: There exists the requirement of peoples on both sides of the transaction and they also need to forfeit some of the privacy in sharing economy. For example, whenever renting of a house is done it means that the strangers are being invited to the house but still the individual providing the rent has trust on the renters to be respectful and law-abiding but they cannot be 100% sure about what they follow through (Dillahunt and Malone 2015). This type issue is also applicable whenever a ride is being shared, selling or renting of an item is being done I an online marketplace and many other platforms. There exists few or no guarantee at all: Whenever a resource is being shared with others then it is also assumed that the risk of wont getting paid or the item that is being shared will be damaged. So it is better to say that there always exists the risk of damage to the item that is being used and also the risk of not getting paid as well (Dillahunt and Malone 2015). For example, in a talent marketplace, there exists a typical finite number of jobs for which an individual is qualified but there exists no guarantee of steady income or getting payments for the work that has been completed and the buyer is not satisfied with the work. Cooperation with others: Despite the benefits of sharing economy there still exists the need of cooperation between the people of each side of the transaction. This might also lead to tradeoffs which are responsible for putting constrain over the independence or self-reliance of an individual (Dillahunt and Malone 2015). This can be better understood with the use of an example that is when a co-working space is used means that the resources are being shared. The reason behind the use of crowdsourcing website From the list of website, Kickstarter is considered for this report because this website is considered to be useful for creating a large number of projects like the album or writing a book (Yoon, 2017). Kickstarter is considered to be funding platform in which creator can easily gather or share interest on a particular topic. It totally works by making use of crowdfunding which means that it makes use of general public money. In this website, every project is independently crafted while various kinds of funds can be easily gathered from the return of products. Creators can easily set a particular kind of page for displaying all the details of the project. Various kinds of project creators set up a funding goal along with deadline (Schor, and Fitzmaurice, 2015). It also focuses on providing or seating of a large number of goals at different levels. Kickstarter is considered to be a great platform as not every kind of people gets approval from it. All or nothing funding is considered t o be core or important part of Kickstarter. It generally provides a large number of advantages like It is generally considered to be less risky for a large number of people. Without the help of funds various kinds of backers cannot be easily charged (Malhotra and Van Alstyne, 2014). In many cases, it is seen that it motivates by adding a sense of urgency which ultimate focus motivates the whole communities. It focuses on providing for funding goals for the organizations. Sharing economy funding request The whole idea or logic of share economy is considered to be too old. Sharing is generally known to be the best way for a gathering of a large number of resources. In many cases, it has been seen that this is much cheaper along with being sustainable for many peoples (Cohen and Kietzmann, 2014). The whole logic of share economy is generally known to be broader one and as it does not have any kind of sharing model associated with it. Crowdfunding is proven to provide a large range of investors. Likely of a request for succeeding Crowdfunding provides a sharing economy which can bring benefits to various kinds of stakeholders. Around the globe, this whole process claims to provide crowdfunding which is taken to have the best kind of ways for raising the capital. It also addresses to make use of resources, social mobility by providing a large number of jobs to people. Revenue seems to be lost if is considered to be unused in a large number of private sectors (Sundararajan, 2016). The final result of sharing economy would include the creation of a request for more job opportunities. Share economy is proven to provide transformation along with providing benefits to many people. Sharing talent focus providing transformation and providing benefits to a large number of people. Sharing economy is also associated with providing the development for a certain number of skills and also focus people to easily make use of a large number of resources. The contribution of the project to share economy Definitely the project would be providing a lot of benefit in an improved and better way and this would be done by providing a large number of ways so as to minimize and exchange the various kinds of services. After assembling along with innovation platform it will ultimately focus on increasing large number of goods and services for the people (Sundararajan, 2016). Transportation generally provides a platform which can be easily used for creating flexibility to a large number of users. Reflection of sharing economy for personally at a workplace Share economy can easily result in any kind of digital transformation which focus on peer to peer communication for various kinds of goods and services. The shared workplace has easily undergone a large number of ways for understanding the transition. Co-working is known to be shared workplace in which is an idea has been providing regarding traditional services (Sundararajan, 2016). Co-working is generally occupied by various kinds of independent workers which tends to work outside the home. Sharing economy can easily transform the composition of the various kinds of the workforce and many kinds of organization which can easily have the possibility of linking their headquarters. Sharing economy is not only associated with the transformation of the whole composition of the workplace but this has also been designed so as to provide a work environment where it is possible for anyone to hold the impact (Sundararajan, 2016). Share economy is considered to have various kinds of the digita l platform which can easily make use of different goods and services. When the projection of untapped kind of market is done then it will ultimately lead to the boosting up of the confidence of investor while starting the co-working with others. At present co-working spaces are being largely used for independent kind of cost-effective place which is generally considered to be outside the home. It claims to provide flexibility, lower cost of value and attraction of a large number of solution. Future of share economy Share economy is a well-known topic which claims to have gathered a lot of attention in short span of time. Sharing can be easily defined as a kind of economy in which various kinds of resources can be easily used in much cheaper and efficient way (Sundararajan, 2016). The whole world has witnessed a steep rise and penetration of share economy which has been aided by the growth of digital platform and also the willingness of various kinds of a platform for peer to peer based business models. Now people are moving where a large number of people are making use of resources and produces goods and services. Various large companies make use of this digital platform for drawing a large number of resources (Sundararajan, 2016). Sharing economy makes use of individuals and group members for making money from the huge amount of resources. In the near future, the crowd based capitalism is expected to spread in a large number of sectors. Although the healthcare sector is expected to have sluggi sh in the domain of various kinds of advancement and digital kinds of the platform which offer non- emergency along with health services which are emerging to be marked as a reader of future development economy. Conclusion The above report concludes us to the fact that sharing economy is known to be vital for the various organization in near future. An explanation has been provided regarding sharing economy and it has been provided after reviewing a large number of scholarly articles. Various benefits and limitation of share economy have also been described in details in this report. A various crowdsourcing website is there but, a particular website has been chosen for this purpose which is kickstart. Various reasons have been provided for making use of this website. Along with this, an idea has also been proposed regarding the crowdfunding request associated with its alignment with the share. The economy has been choosing in this way. A list of reasons has been put forward for the fact that whether the request will be successfully implemented or not. In the end, a list of reasons has been provided regarding the fact that sharing economy is and contribution in the various kinds of the workplace. After that, an idea has been provided regarding the future of share of the economy. Various kinds of benefits of share economy like utilization of resources, job creation, social mobility and development of skill have been provided in the above pages of the report. 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