The modern business environment embodied by the likes of Task Rabbit, Airbnb and Uber is often referred to as the Sharing Economy. This kind of an economy has some universal truths such as its impact on several industries such as consumer goods, services, taxis, travel, finance, music, employment, car rental and waste. Instead of buying cars, people are simply opting for mobility now. Another common point is the inception of this economy was powered as a result of the waste of the previous era as exemplified by the Recession. So collaboration now got emphasized. Management consulting giant PwC estimates that this industry will cross the three hundred billion dollar mark in less than a decade from now. These companies’ reach spans cross border markets. They have caused a complete shakeup of traditional forms of working. This entire process is also known as the Uber Effect as the ride hailing service has become ubiquitous with the sharing economy. It has faced scandals and accusations from existing players, but continues to stride forward.

Source:http://kwhs.wharton.upenn.edu/2017/03/5-truths-sharing-economy/

Uploaded Date: 19th May 2017