Munich Personal RePEc Archive Serbia: Sharing Economy as a New Market Trend and Business Model Ćirić, Maja and Through the creation of new transactions, consumers can enjoy low prices, diverse options and better quality and convenience, and suppliers can earn additional income, all of which contribute to the welfare of the participants. PDF Restart Sustainable Business Model Innovation 14 elements of Sharing Economy Business Models Sharing economy companies list: Featuring Airbnb, Uber ... Case Study: Business Model: In-depth explanation of all elements Economics: The secrets how and why the business model works Industry / competitor analysis: competition to hotels, pricing strategies and the reasons for Airbnb's success Strategy: growth, disruption, value chain, activity map and more Infographics (6x) + 1 Excel. How the sharing economy can make its case | McKinsey However, few studies to date address performance variation among sharing platforms. Review of Integrative Business and Economics Research, Vol. In biology, Social Companies no longer focus mainly on driving more volume and squeezing out cost through And because this model is, apparently, somewhat protected in times of crisis, it is unlikely that the pandemic will usher in the downfall of the sharing economy, as some have feared.In addition . Expressed herein is the key enabler for Share Economy's success namely the reorientation of thought with regard This light asset model of sharing economy has largely reduced the . The "sharing economy" is widely believed to have introduced major changes within the corporate economy, claiming markets for lodging, ride-hailing, home services, and other sectors that . Lessig (2008) Collaborative consumption made by the circular economy. A Brief Analysis of the Business Model and Development of Sharing Economy in the Internet Era Wei Liang School of Economics, Guangzhou College of Commerce, Guangzhou 511363, China. PDF Business Models for the Circular Economy . The Car Sharing Economy: Interaction of Business Model ... In their upcoming article, "A Compass for Navigating Sharing Economy Business Models," authors Pablo Muñoz and Boyd Cohen describe the ride-sharing business model using terms that span a range of key features: Uber and Lyft's business model is tech-driven, peer-to-peer, with conventional corporate governance (among other features). The sharing economy is accompanied by diverse expected benefits. The OECD has developed Model Reporting Rules that require digital platforms to collect information on the income realised by those offering accommodation, transport and personal services through platforms and to report the information to tax administrations. Indre Maurer 2 Received: 5 January 2018 / Accepted: 27 May 2019 / Published online: 23 July 2019 Published 3 July 2020. September 2018 The RISe of The ShARINg ecoNomy 59 In the consumer-to-consumer business model, known as "c2c" (or "p2p" for peer-to-peer), demand and supply are matched via a digital platform developed and operated by a third entity who usually takes a percentage of the payment In that case, to their accommodation spaces. participating in the sharing economy. tions for sharing economy entities using an adapted version of a customer acquisition and retention model developed for tradi-tional ownership-oriented firms. Uber capitalizes on convenience. WE Online, Jakarta - Sharing economy adalah model ekonomi yang sering didefinisikan sebagai aktivitas berbasi peer to peer untuk memperoleh, menyediakan, atau berbagi akses ke barang dan jasa yang difasilitasi oleh platform online berbasis komunitas.. Konsep bisnis ini juga memiliki sebutan lainnya, yakni Gig Economy. The business model of the sharing economy consists of a firm, or service enabler, which acts as an intermediary between the suppliers of a good or service (service provider) and customers who demand those underutilized goods and services . Download : Download high-res image (193KB) Download : Download full-size image; Fig. Review of Integrative Business and Economics Research, Vol. DOI: 10.9723/JKSIIS.2016.21.5.041 Corpus ID: 44977555. 5. buy from a company. View Sharing economies business model.pdf from MANAGEMENT 238 at Univerza v Ljubljani. Examples of the sharing economy abound, including transportation (Lyft, RelayRides, BlaBlaCar ), lodging ( Airbnb ), and neighbors helping neighbors (TaskRabbit, NeighborGoods). Ioannis Bellos, Mark Ferguson, L. Beril Toktay (2017) The Car Sharing Economy: Interaction of Business Model Choice and Product Line Design. 2.1 | Sharing economy business model The impressive surge of sharing-based BMs that has emerged in the last decade seems to have its roots in the global economic crisis and recession of 2008. is gathering that the sharing economy and platform business models are significantly changing ecosystems, markets and consumption patterns (Caldieraro et al. new is the speed and scale at which the peer-to-peer business model together with the . Product as a service. The sharing economy continues to grow in high demand as consumers look for more cost-effective ways to fund, purchase and find items. In a broad understanding, the sharing economy is a business model designed to provide convenient and cost-e ective access to take advantage of underutilized or redundant resources provided by digital platforms [15]. 2013 2025 $15 bn $240 bn Sharing economy Traditional operating . Using websites and social media groups that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. The platform then acts as an intermediary between them. The case studies . overview and understanding of the accessible practices of the sharing economy; researchers could benefit from the summary and critical analysis of this trend and use the recommendations for future research, and entrepreneurs might employ some of the recommendations for a successful business based on the sharing economy principles in practice. Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy. What we do know is that this crisis presents many opportunities Some of the participants have demonstrated spectacular success . Technology makes the difference Business models that are based on the provision of access are not new (Babione, 1964). 1 First Author The sharing economy industry allows people to add value to assets that are idle or underused. Introduction . We expect the period post-COVID-19 to be no different, and thus several industries will be disrupted via new innovations and applications. The regulation of such a business model has been an ongoing debate. Business Model Canvas & Value Chain (huge info graphic!) The purpose of this study is to connect disruptive innovation and sharing economy by exploring the underlying mechanisms of how a disruptive innovation-based business project creates, delivers and captures value in sharing economy through analyzing the case of bike sharing in China.,An elaborate case study is used to unfold the process as well as the underlying mechanism and relationships . What is Uber's business model? The most widespread business model deployed by sharing economy companies features an online market place through which the demand for certain assets or services amongst peers is matched with the ownership of those assets and services by other peers. A chart by PwC showing how the sharing economy is expected to grow. The Airbnb business model is an example of the sharing economy, so much so that the company itself considers it a "community built on sharing". More broadly, regulators and governments have started to question the long-term impact of the sharing-economy business model on incumbents and communities. business model innovation, and RESTART fills this vital need. View MPRA_paper_110244.pdf from ECONOMICS ABIZ1000 at University of Notre Dame. This paper explores and layout the unique characteristics of peer-to-peer service sharing platforms based on three distinct temporal patterns that entail specific consequences for platform use as well as provide insights about their overall design imperative. The rapid growth of the sharing economy has attracted a recent surge of academic interest. In fact, shareconomy allows more room for flexibility, so organizations and business could customize its processes. Often, sharing economy business models facilitate people to transact directly with one another by connecting individuals in unprecedented ways (Caldieraro et al., 2018). 1. While there's now thousands of sharing economy companies, we list some of the most prominent across the world. business form sharing economy enterprise human resources management pattern. services that are not utilized, and which prioritizes accessibility over of ownership. Related work package WP3 - Business model innovation to enable car sharing Related task(s) Task 3.1 - Inventory of existing business models for car . As a result, 20 owners of 56 such apartments incurred large fines. the nature of the sharing economic business model, it is unfavorable to the development of service innovation. the sharing of those underused assets. Each business model is examined regarding The business model of sharing economy to take light asset model and the traditional model is the opposite, and the former only needs to match idle resources with the effective needs through the Internet platform so as to achieve the transfer of the useright of idle resources. 8, Supplementary Issue 2 19 Sharing Economy: An Analysis of Airbnb Business Model and the Factors that Influence Consumer Adoption Evelyn L. Chua* Graduate School, University of Santo Tomas Jason L. Chiu College of Commerce, University of Santo Tomas Nelson C. Bool Graduate School, University of Santo Tomas ABSTRACT Public perception . And this is known as the sharing economy. By plotting a matrix with these two dimensions, we derive a typology of four sharing business models that we call shared infrastructure providers, commoners, mission-driven platforms, and matchmakers (see Figure 1). It makes finding a taxicab easier, it provides different service levels . In addition, following the presentation of the business model, the r. esearch has conducted a case study to confirm that the business model can explain the sharing economy. In economics, behavioral studies dealt serious blows to the rational actor model. Companies that leverage this model can maximize the use of the products they sell, enhance productivity and value creation. Why the sharing economy has to be seriously 2.1. In the sharing economy, this is made more complicated because often there is a supply-side (i.e. Building on the notion of business model design and applying a configurational approach, we develop a conceptual model that investigates what combinations of design . PDF | Sharing economy platforms combine organizational and market mechanisms in innovative ways to gain competitive advantages over incumbents. The most commonly known sharing economy model is the peer-to-peer model (s ee Figure 1) in which peers (m ostly individuals) offer and request goods and services. Furthermore, most studies in this domain try to explain the activities or impact of a particular sharing economy firm, such as Uber (Cramer and Krueger particular circular business model by a firm or group of firms can facilitate the adoption of a related business model by others. These democratised online platforms are providing a chance for people to make a quick buck The aim of the paper is twofold. , 2018; Lamberton and Rose, 2012 . Abstract With the rapid development of Internet finance, sharing economy, as a new business model of mobile Internet, is permeating into every aspect of our life. This intermediation happens at lower costs, which allows Uber to create value-added to customers. The Business Model for the Sharing Economy between SMEs based on Business Model Canvas @inproceedings{Woo2016TheBM, title={The Business Model for the Sharing Economy between SMEs based on Business Model Canvas}, author={Chae-ryeon Woo and Min Je Cho and Hyung Rim Choi and Kangbae Lee and Doo-hwan Kim}, year={2016} } The mayor of Paris, for example, set up a team of 20 agents specifically to crack down on illegal room-sharing hosts. Think of shared washing machines, ski rentals, or the redistribution of second-hand goods. Keep products and materials in use. When adapted to various organizations and business, sharing economy does not have a single model. the sharing economy in any context is limited and is largely focused on developed countries, however, some research into the sharing economy in middle-income countries is starting to emerge. Share Economy 2017 The New Business Model This report analyzes the size and the acceptance of the Share Economy in the six European countries Austria, Belgium, . Introduction The Cambridge English Dictionary defines 'sharing economy' as an economic system based on people sharing possessions and services, either for free or for payment, usually organized and mediated through the internet. Manfaat dari sharing economy bukan hanya memiliki semangat untuk melakukan . Each type relies on distinct mechanisms of value creation and value . and categorize sharing economy-based business models in relation to traditional business models. It is within this context that STARS is situated, as it strives to close the gap between current Business Model Choices in the Sharing Economy There are so many different choices one must consider when designing a business model. They generally do not have to purchase (or produce) these assets. The sharing of under-utilised household possessions also has a The sharing economy is based on the use . 8, Supplementary Issue 2 19 Sharing Economy: An Analysis of Airbnb Business Model and the Factors that Influence Consumer Adoption Evelyn L. Chua* Graduate School, University of Santo Tomas Jason L. Chiu College of Commerce, University of Santo Tomas Nelson C. Bool Graduate School, University of Santo Tomas ABSTRACT Public perception . Not all circular business models are necessarily new Recycling, reuse, and repair have existed for millennia. To capture this growth, transparency and collaboration within business are crucial. 1. Uber's business model is a hybrid of . These developments have resulted in an explosive growth . Keywords: MOOC platforms, business model innovation, share economy, open education, Business Model Canvas. new business models based on circular economy attributes can offer. If potential drivers were not willing to join Uber, it would fail. Potentially, this study can also contribute to a better understanding of the perspectives of the sharing economy in the transition of SMEs towards the Industry 4.0 paradigm. Sharing Economy: The sharing economy is an economic model often defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services that are facilitated . Business Models Sharing Economy Services: Business Model Generation California Management Review 2019, Vol. Manufacturing & Service Operations Management 19(2):185-201. While the sharing economy has had an impact on the traditional economic model, such Here are some of the more common business models adapted in shareconomy. . As of today, it is unclear whether this economy is merely another ephemeral trend in consumption or whether we are experiencing a real . In their upcoming article, "A Compass for Navigating Sharing Economy Business Models," authors Pablo Muñoz and Boyd Cohen describe the ride-sharing business model using terms that span a range of key features: Uber and Lyft's business model is tech-driven, peer-to-peer, with conventional corporate governance (among other features). Uber is an intermediary of idle capacity. Sharing economy as a new business model, with the help of Internet information communication instant sharing goods, make full use of all resources, but also provide convenience for people's lives, promote the development of business. Circular business models contribute to a circular economy by adhering to the circular economy's three fundamental principles. In a circular economy, growth is decoupled from the use of scarce resources through disruptive technology and business models based on longevity, renewability, reuse, repair, upgrade, refurbishment, capacity sharing, and dematerialization. It can help to scale up the business extremely fast. sharing economy companies in the five sectors where the new business model is the most prevalent earned sales revenue of 15 billion dollars, by 2025 this will have risen to 335 billion dollars, so half of the revenues in these markets will go to companies with a sharing-based model. In this paper, a series of studies have been carried out to understand what is sharing economy and the models of sharing economy, and what kind of factors will be needed for the business model innovation based on the sharing economy model. Keywords: Sharing Economy, Platform Economy, E-Commerce, B2B, B2C 1. Design out waste and pollution. high technology and the sharing economy. Sharing economy is a phenomenon th at generates access to goods and. overshadowed the essence of this business model. Introduction The sharing economy, or more accurately the business model of sharing of resources to generate sustainable profit, has been in the market for years. The sharing economy includes both the demand and supply side. sharing economy is significant, with annual growth exceeding 25%. 1. of the sharing economy and more; Uber, Airbnb and WhatsApp. Firstly, it discusses the business models of the sharing economy. The Airbnb business model is unique in that it is built around disruptive, cloud-based technologies and is appealing to customers for its low rates, household amenities, and potential for more authen- We do not know where the disruption will be. resource owner) and a demand-side (i.e. The sharing economy, a rising pattern in consumption behavior that is essentially based on accessing and reusing products to utilize idle capacity, presents both tremendous possibilities and significant threats for emerging as well as incumbent businesses. The sharing economy business model utilises already existing assets. This is a major benefit in terms of capex. Platform business models in general, and the sharing economy in particular, have produced disintermediated industries. You can launch anything from a jewellery rental business to an . The rapid advance of the sharing economy, where the core premise is to extract value (revenue, profit) from existing assets rather than produce new products, is one of several examples of these business models (see "Capturing the opportunity: business model transfor - Böckmann (2013) Sharing economy that describes a type of business model that builds on the sharing of resources between individuals through peer-to-peer services allows customers to access goods and services when needed. An estimated $23bn (£17.5bn) in venture capital funding was poured into the market between 2010 and 2017, according to a report by Boston Consulting Group. The study's framework is grounded in an analysis of sharing economy fundamentals and business model literature, contributing to a better understanding of the potentials of sharing economy for . Sharing economy shakes up traditional business models. But it can also limit this. recognize the impact of the sharing economy on firms' business models. Linear business models are based on the following logic: take natural resources, make products for consumers that eventually become waste. Four Business Model Configurations in the Sharing Economy . resource user) to a sharing economy business model. Indeed, together with the growth of internet appli-cations, globalization and urbanization, it determined a shift towards Keywords: Business Models, Sharing Economy, Peer-To-Peer Marketplaces, Rentals, Manufacturing Suggested Citation: Suggested Citation Abhishek, Vibhanshu and Guajardo, Jose and Zhang, Zhe, Business Models in the Sharing Economy: Manufacturing Durable Goods in the Presence of Peer-to-Peer Rental Markets (March 09, 2021). The sharing economy has been growing continuously in the last decade thanks to the proliferation of internet-based platforms that allow . Due to the limited available academic research this review has also drawn upon non-government reports, as well as Internet and news media articles. So, I 2. The circular economy could unlock $4.5trn in economic growth. This phenomenon earned a significant leverage in a wide gamma of domains, including In order to do so, it identifies idle capacity, aggregates it and allocates it to consumers willing to pay the price. The sharing economy (Benjaafar et al., 2018;Eckhardt et al., 2019), as a new business model (Apte and Davis, 2019; Ter Huurne et al., 2017;Zervas et al., 2017), has been demonstrated to be a . nd/4.0/), which permits any noncommer cial use, sharing, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link Service Fee model Airbnb business model canvas. If the issues of the sharing economy can be overcome, it could transform the business models on which the economy has relied for years business model, which can be introduced to the sharing economy among SMEs. 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