Information System in Business: Exploring Sharing Economy and Crowdsourcing

This report explores the concept of sharing economy and crowdsourcing in the context of information systems in business. It discusses the benefits and limitations of sharing economy, the use of crowdsourcing website, and the future of sharing economy.

Running head: INFORMATION SYSTEM IN BUSINESS
INFORMATION SYSTEM IN BUSINESS
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Table of Contents
Introduction..........................................................................................................................2
Discussion............................................................................................................................2
Explanation of Sharing of economy................................................................................2
Benefits of sharing economy...........................................................................................3
Disadvantages of sharing economy:................................................................................4
The reason behind the use of crowdsourcing website.....................................................5
Sharing economy funding request...................................................................................6
Likely of a request for succeeding...................................................................................6
The contribution of the project to share economy...........................................................7
Reflection of sharing economy for personally at a workplace........................................7
Future of share economy.................................................................................................8
Conclusion...........................................................................................................................9
References..........................................................................................................................10

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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, Sjöklint 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

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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 engineers,
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.

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Social Mobility: Share economy has focused on providing employment market to a large
number of workers present in the market (Möhlmann, 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 won’t 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

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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 to be core or important part of Kickstarter. It generally provides a
large number of advantages like

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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.

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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 digital 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

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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 sluggish 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

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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. In the above pages of the report, an analysis has been
done regarding crowdsourcing and its importance in the creation of various kinds of IT solutions.

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References
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