The sharing economy impacts core business models

The sharing economy impacts core business models

The sharing economy will disrupt many industries

Social technologies radically disrupted communications, marketing and customer care. With these same technologies, customers now buy products once and share them with each other. Beyond business functions, the sharing economy impacts core business models.

New technologies have made it possible for people to conduct new kind of transactions that were never practicable before –  renting someone’s bike, borrowing a neighbor’s buzz saw, boarding a pet in someone else’s home, renting someone’s spare bedroom, even swapping services.

Today, we have sophisticated platforms that allow for instant sharing, like super-fast mobile devices that allow for sharing from any location and online payment systems that allow for quick, online transactions. The combination of these factors allow for sharing at scale and across boundaries. A global, scalable sharing platform is allowing for the emergence of an unexplored economy. It has been driven by tech startups in its infancy, but is ultimately moving from an emerging model to one that is adopted by the masses.

The collaborative economy is currently where social media was a couple of years ago and this new economic model will no doubt continue to build momentum and disrupt many industries in the years to come, just as social did.
The sharing economy impacts core business models

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About The Author

Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement, development and change management. International experience from management positions in Denmark, Germany and Switzerland.

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