Information System in Business: Benefits and Challenges of Sharing Economy

This report discusses the benefits and challenges of sharing economy in information system. It includes a review of crowdsourcing website, funding request, and future of sharing economy. The report also reflects on the impact of sharing economy in the workplace.

Running head: INFORMATION SYSTEM IN BUSINESS
INFORMATION SYSTEM IN BUSINESS
Name of the Student
Name of the University
Authors Note:

1INFORMATION SYSTEM IN BUSINESS
Table of Contents
Introduction..........................................................................................................................2
Discussion............................................................................................................................2
Explanation of Sharing of economy................................................................................2
Benefits and limitation of sharing economy....................................................................3
Reason behind the use of crowdsourcing website...........................................................4
Sharing economy funding request...................................................................................5
Likely of request for succeeding......................................................................................5
Contribution of project for share economy......................................................................6
Reflection of sharing economy for personally at a work place.......................................6
Future of share economy.................................................................................................7
Conclusion...........................................................................................................................8
References............................................................................................................................9

2INFORMATION SYSTEM IN BUSINESS
Introduction
Sharing economy is nothing but an economic kind of business model which generally
focus on peer to peer depended on activity (Hamari, Sjöklint and Ukkonen, 2016). It claims to
provides a large number of sharing or access to various kinds of goods and services which is
totally based on the online-based platform. Communities around the globe have made use of
shared use of assets for a large number of years. But due to the advent of the internet, it started
making use of Big Data for easier kind of access to asset owners and seeking for those who look
for a large number of assets (Zervas, Proserpio, and Byers, 2017). Sharing economies generally
allow various kinds of individual and groups for properly understanding the assets.
In the coming pages of the report, an idea has been provided regarding sharing economy.
A list of benefits and challenges with respect to sharing economy has been provided. Among the
various kinds of websites, a website has been selected. After that, its alignment with share
economy has been discussed in details. A reflection writing has been provided for the idea of
sharing economy in the workplace. After that future of sharing economy has been discussed with
respect to given report.
Discussion
Explanation of Sharing of economy
Sharing economy is a social-economic ecosystem which is mainly built on the idea of
sharing of resources related to human and physical (Schor, 2016). At present various of examples
of share economy can be seen like Uber, Airbnb, and CanYa. Share economy focus on share
creation, production, trade and distribution of large amount of consumption of goods and
services by various kinds of people and large organization. Sharing of the economy generally

3INFORMATION SYSTEM IN BUSINESS
falls into four kinds of categories like recirculation of a large number of goods, increasing the
utilization of a large number of products which are considered to be durable kind of assets,
exchange of a large number of services, sharing of a large number of productive assets
(Cusumano, 2017). Sharing business can either be defined as own goods or products or services
which can be rented by a particular customer and often on basis of short-term (Edelman, Luca,
and Svirsky, 2017). It also focuses on the creation of peer to peer connection of providers and
making use of the exchange, purchase and renting of a large number of goods and a large number
of services.
Benefits and limitation of sharing economy
There is a certain number of advantages of share economy like:
 It focuses on decreasing of environmental effects on a large number of bodies.
 It also focuses on accessibility to a large number of employees’ opportunities.
 Sharing economy also focus on to the creation of a sense of trust in a large
number of communities.
 It also provides a sense of the higher value of saving in the same kind of lifestyle.
 It claims to provide more kinds of business opportunities.
 It also aims to lower the ownership in most of the cases.
 It also provides easy kinds of access to a large number of people.
On the contrary share, the economy has some kinds of limitation like:
 No amount of benefits can be obtained from it.
 The rates are not set by individuals.
 The future of this considered to be uncertain.

4INFORMATION SYSTEM IN BUSINESS
No benefits: The flexibility and dependency for working of a sharing economy generally
come up with a proper kind of price. It mainly comes up with traditional kinds of benefits like
healthcare and retirement (Martin, 2016).
Rates: As a proper kind of freelancer one can easily set the rates. This does not come up
with the idea of gig economy (Möhlmann, 2015). The platform of share economy generally
determines the kind of charge to be put and it also limits the earning power of an individual.
Uncertainty: The sharing economy is claimed to have some kinds of share economy. At
present, there is a class action against Uber in which drivers are fighting at a higher rate for being
as a kind of classified employees, rather than being independent kinds of contractors (Ert,
Fleischer and Magen, 2016). At present they have set some kind of similar kind of lawsuit
claiming for the same which is provided to it. Other kinds of the platform have encountered
similar kinds of treatment and compensation for their workers.
The reason behind the use of crowdsourcing website
From the link of twenty websites which available on the online platform, crowdwise.com
has been selected. It has been selected as it is considered to be world’s largest and fastest
growing fundraising platform which is dedicated exclusively to charitable kind of living (Yoon,
2017). This kind of website is used for millions of individual for raising money for a large
number of favorite charities and other kinds of request. A large number of charities and famous
artists makes use of crowds for creatively locking the power of their crowd and raising of
millions of dollars for providing support to positive kinds of social missions. This website has a
large number of partners like UNICEF, American cancer society, United Airlines and many
others (Schor, and Fitzmaurice, 2015). This website is considered to be among the top 25
websites for crowdfunding. It is mainly geared towards helping some kinds of real-world issues

5INFORMATION SYSTEM IN BUSINESS
rather providing profit for various kinds of ventures. It is considered to be a for-profit
crowdfunding platform which generally raises various kinds of a charitable donation. Its website
is totally based on the idea of making giving and having back fun which mainly leads to many
kinds of donation and also stresses on the idea of raising a large number of funds.
Sharing economy funding request
The idea of sharing request is considered to be an ancient one. Sharing can be easily
explained to be economically for assembling of a large number of resources in a much kind of
cheaper way which is considered to be cheaper, more efficient and sustainable for a large number
of people (Cohen and Kietzmann, 2014). The idea of sharing is considered to be a very broad
one and there is no kind of sharing model associated with it. The assets can be easily inclusive of
many kinds of personal work along with time, personal wealth or personal ownership for a large
number of physical things. Crowdfunding claims to provide a full short range for a full range of
investor stage. Contributors of crowdfunding are considered to have many kinds of donations.
Likely of a request for succeeding
The request of crowdfunding provides sharing economy along with several numbers of
benefits to stakeholders which is inclusive of consumer, seller and proper kind of platform.
Round the globe, this process seems to provide economy starts for crowdfunding for the best
way for raising capital. It also focuses on utilization of resources, social mobility by making use
of new kinds of new jobs (Sundararajan, 2016). Efficient use of resources makes use of attribute
for a better kind of making related to development. Revenue can be easily lost if it is unused in a
large number of the service sector. It focuses on providing an on-demand platform which
ultimately helps in transform the way in which potential kinds of customers can have by tapping
into the right kind of demand. Sharing economy contribution focus on improvisation of

6INFORMATION SYSTEM IN BUSINESS
utilization in which data is used for peer to peer accommodation of portals. The sharing economy
will ultimately focus on the creation of a request for a large number of job opportunities. The
emergence of this technology has led to the creation of platform in the much better way for a
large number of people. The sharing economy is claimed to transform the market of employment
for benefiting a large number of employees. Sharing talent focus on a large number of people for
utilization of skills and talents in a much better way for the people around the globe (Fraiberger
and Sundararajan, 2015). Sharing of the economy generally allows people to develop a skill
which ultimately allows a large number of people for better utilization of resources.
The contribution of the project to share economy
Yes, the project will contribute to sharing of the economy in a much better way by
providing a large number of technologies for reduction of cost and exchange of a large number
of goods and services. After combination with the innovative software platform, it has
significantly extended the ability for coordination for a large number of exchange of a large
number of goods and services. The consumer is the center in which the whole kinds of resources
revolve around (Cheng, 2016). One of the important reason behind this kind of platform is the
creation of large number of jobs by encouraging wider section of the population. Transportation
of platform focus on the creation of more kind of flexibility to drivers to easily operate according
to their needs. Technological improvisation has easily led to the improvement of technology to
unskilled kinds of labors.
Reflection of sharing economy for personally at a workplace
Sharing of the economy in any kind of digital platform focus on facilitation of peer to
peer communication. In the last few years’ workplaces of the various organization is having
rapid kinds of changes. Co-working is a type of shared workplace which is emerged to be model

7INFORMATION SYSTEM IN BUSINESS
which ultimately provides many kinds of abilities for traditional kinds of abilities. This kind of
model provides co-workers to be cost-effective to work outside the various kinds of homes. It
also puts a certain number of emphasis on the design of space which ultimately creates
community and a large number of experience for users. Valuation of popular kinds of co-
worker’s startups focuses on technical kinds of a startup in the last few years. With the help of
share economy, it is considered to be possible for tapping into the markets which are unavailable
or non-existing (Dillahunt and Malone, 2015). An important part of share economy is making
use of idle kinds of space or time for a large number of the organization. In previous days if an
organization requires a large set of images then it is necessary needs to be tagged with metadata
and they should have made use of work-in-house. At present they can easily opt for hiring one or
several kinds of workers of sites which is based on a large number of the task at present. In short
various kinds of organization round of globe can move to use of a complete specific number of a
task without expansion of a large number of workforce.
Future of share economy
Share economy is considered to be an important topic for rapid kind of economy which is
considered to have large and expanding forces. In the first, we have seen about mobility industry
and hospital industry (Koopman, Mitchell and Thierer, 2014). The sharing economy is mainly
powered by declining of transaction costs. Various kinds of things like smartphone, internet
connectivity generally allows making use of desired use of goods and a large number of services.
Ride-sharing and lording on short-term can be easily defined as a kind of bleeding edge for
sharing consumers as they have look for cabs and booking of hotels rooms. Secondly, transaction
cost will decrease in the near future because of removal from various kinds of sharing platform.
Matchmaking will focus on providing sensing, connectivity and various kinds of data for

8INFORMATION SYSTEM IN BUSINESS
merging into a single kind of system. Logistics like self-driver cars, drones and delivery robots
and efforts which can be used for transferring of goods will ultimately focus on various kinds of
potential markets. Enforcement focus on the use of Ethereum blockchain focuses on supporting
contacts which ultimately releases payment when a certain number of the condition are not met
easily (Koopman, Mitchell and Thierer, 2014). Sharing has the power to potential to reshape the
design of a large number of products.
Conclusion
From the above discussion, it can be easily concluded that this report is all about sharing
economy. A list of benefits and challenges of share economy has been discussed in the paper.
From the list of crowdsourcing website, crowdwise.com has been selected. A list of reason for
using this particular website has been provided. An idea has been provided regarding the request
and its alignment with share economy has been discussed in details. A good reason has been
provided for sharing of the economy in a meaningful method or way. A proper kind of reflection
has been provided regarding the idea of share economy in a workplace. In the end, an idea has
been provided regarding the future of share economy. crowdfunding sites to various kinds of on-
demand of technologies like Uber and Ola in the field of transport. In field or domain of
hospitality like OYO rooms. The uniting factors for this kind of organization are nothing but a
large number of initiatives for bringing large number people together.

9INFORMATION SYSTEM IN BUSINESS
References
Cheng, M., 2016. Sharing economy: A review and agenda for future research. International
Journal of Hospitality Management, 57, pp.60-70.
Cohen, B. and Kietzmann, J., 2014. Ride on! Mobility business models for the sharing
economy. Organization & Environment, 27(3), pp.279-296.
Cusumano, M.A., 2017. The sharing economy meets reality. Communications of the ACM, 61(1),
pp.26-28.
Dillahunt, T.R. and Malone, A.R., 2015, April. The promise of the sharing economy among
disadvantaged communities. In Proceedings of the 33rd Annual ACM Conference on Human
Factors in Computing Systems (pp. 2285-2294). ACM.
Edelman, B., Luca, M. and Svirsky, D., 2017. Racial discrimination in the sharing economy:
Evidence from a field experiment. American Economic Journal: Applied Economics, 9(2), pp.1-
22.
Ert, E., Fleischer, A. and Magen, N., 2016. Trust and reputation in the sharing economy: The
role of personal photos in Airbnb. Tourism Management, 55, pp.62-73.
Fraiberger, S.P. and Sundararajan, A., 2015. Peer-to-peer rental markets in the sharing economy.
Hamari, J., Sjöklint, M. and Ukkonen, A., 2016. The sharing economy: Why people participate
in collaborative consumption. Journal of the Association for Information Science and
Technology, 67(9), pp.2047-2059.
Koopman, C., Mitchell, M. and Thierer, A., 2014. The sharing economy and consumer
protection regulation: The case for policy change. J. Bus. Entrepreneurship & L., 8, p.529.

10INFORMATION SYSTEM IN BUSINESS
Malhotra, A. and Van Alstyne, M., 2014. The dark side of the sharing economy… and how to
lighten it. Communications of the ACM, 57(11), pp.24-27.
Martin, C.J., 2016. The sharing economy: A pathway to sustainability or a nightmarish form of
neoliberal capitalism?. Ecological Economics, 121, pp.149-159.
Möhlmann, M., 2015. Collaborative consumption: determinants of satisfaction and the likelihood
of using a sharing economy option again. Journal of Consumer Behaviour, 14(3), pp.193-207.
Schor, J., 2016. DEBATING THE SHARING ECONOMY. Journal of Self-Governance &
Management Economics, 4(3).
Schor, J.B. and Fitzmaurice, C.J., 2015. 26. Collaborating and connecting: the emergence of the
sharing economy. Handbook of research on sustainable consumption, 410.
Sundararajan, A., 2016. The sharing economy: The end of employment and the rise of crowd-
based capitalism. Mit Press.
Yoon, S., 2017. TRANSITIONS OF TRUST ACROSS DIFFERENT BUSINESS CONTEXT:
IMPACT OF THE SHARING ECONOMY ON THE LODGING INDUSTRY(Doctoral
dissertation, University of Nevada, Las Vegas).
Zervas, G., Proserpio, D. and Byers, J.W., 2017. The rise of the sharing economy: Estimating the
impact of Airbnb on the hotel industry. Journal of Marketing Research, 54(5), pp.687-705.