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Gig a New Technology 1Gig a New Technology
Gig a New Technology 2IntroductionGig Technology is an important aspect of Gig Economy that is emerging in the corporate sectoras an effective and productive technology. In this concern, the report is evaluating the Gigtechnology in terms of adjusting to a new technology in the 21st century and its implication indifferent terms. Gig a new TechnologyIn the present business environment, Gig Technology is an emerging technology in gig economy,which refers to the environment in which an organization may deal with self-governing workersfor short-term arrangements. In the 21st century, the gig technology is rapidly emerging industrybecause it provides flexible work environment for the professional. ‘Gig economy’ is also knownas ‘sharing economy’ in term of technology because both of the economies are based on the usesimilar technology but have some difference. In sharing economy, the government, organizationsand individuals access the goods and services among the community through online platformsbut in gig economy the workers track the work on their interest, availability and location throughonline platform (Friedman, 2014). Ultimately, the gig technology is defined as an environment,where the organizations provide flexible job opportunities towards hiring of freelancers andindependent contractors. It works through various online platforms where the interested workerscan get work based on their interest and related field. This economy is compared with barter economy in which the goods and services are mostlyexchanged to receive values in new way for effective results. In this way, the social norms andthe traditions govern exchange of gifts for values. Therefore, barter economy is similar to gig
Gig a New Technology 3economy in terms of creating values and almost has no any differences to gig economy. In botheconomies the values are exchanged to promote the workers as well as the customers.Additionally, the peer economy is almost different to gig economy and has no similarities in anyconcern (King, 2014). Because the peer economy is a decentralized form where the individualsare interrelate directly with each other to buy and sell goods and services without intermediationof third party. But the gig economy involves third party to provide work and services to theneeded person.As well as, the term “On-Demand economy” is also similar to gig economy, which defineseconomic activities that are created by the technological organizations to fulfill the consumerdemands. On-Demand economy drives its services by the use of efficient and instinctive digitalweb of top infrastructure networks. As gig economy, the term On-demand economy isrevolutionized the commercial behavior around the world. On the other hand, the term “accesseconomy” is different from gig economy because this kind of economy refers to leasing of thingsprovisionally rather than selling permanently (Richardson, 2015). But, it is also similar to the gigeconomy as it is used to connect with employers for short term employment opportunities.Role of Gig Technology in the present economyOn the basis of above discussion it can be identified in terms of benefits, office space andtraining the Gig technology plays big role in present economy. In this concern, different termsthat are affected by gig technology discussed as below: Corporate and organizational culture: As Gig economy is also known as sharing economy,which is changing the scenario of business operations. The Gig technology is becoming helpfulfor the corporate and organizational culture to expose workers for with opportunities. In the
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