Uber and the Sharing Economy Global Market Expansion and Rec

Uber and the Sharing Economy: Global Market Expansion and Reception case study

1. How is the sharing economy characterized? What challenges does this economic model face? Is this economic model a viable alternative to or significant alteration of capitalism? Can sharing economies go global?

Solution

The sharing economy is a majorly practiced and this occurs like a peer to peer service.This occurs when the owner wants to rent out anything like a car or a bicycle which is not in use and they make earning out of it.It is common that people use these facilities and more in demand in the developing countries and some in developed countries.In the Uber economy we see that similar to Uber drivers there is Uber eats where they get paid for delivering the food.The vision of this is to achieve certain criteria in the consumers with the factors of trust and getting familiar to this services.This is also due to the online services where there is no overcrowding and the service tax etc is all looked into prior with all the conditions being in place for the service user.

With time as consumers become confident and comfortable with the sharing economy there would be increase in the usage of the services and the numbers would go high and Uber will end on top of the list in the sharing economy There might be certain risk involved with the trust factor of the people giving the services but yet again there would also be a compensation from the service provider side to the service taker in order to promote their growth and harmony among the service takers.

It is the most trending business concept in the current economy where there are many users and alternatives are also there but when with Uber getting its name in the good services list and highly rated they will tend to move across globally which is already happening in most of the countries and they services is recommended and used by many.