I'm sorry but I will not be able to Publish content on a regular basis as I have done in the past for the next few weeks. You can however take a look at previous articles or even better, write something original for me to publish.

Economics

Loading...

Tuesday, 26 February 2013

Collaborative Consumption: Something New

Something which is starting to become rather popular, and has been dubbed "1 of 10 ideas that will change the world" by TIME magazine, is the world of COLLABORATIVE CONSUMPTION.
As you probably would have figured out, i'm going to start off by defining the term Collaborative Consumption.

C.C - It is an economic model which is based on: 
-sharing - sharing skills e.g. french cooking for indian cooking
-swapping - exchanging goods which you don't use
or renting access to products instead of private ownership.

So why is it so important? One of the main reasons would be because C.C is literally building online social communities. It is more than just getting your work done. It is changing the way in which you get your work done. C.C is more about the social side of business. C.C is also reinventing an old form of trust. Rachel Botsman sums it up really well: "With every trade we make, comment we leave, person we flag, badge we earn, we leave a reputation trail".


C.C is a very new idea and is slowly becoming more popular. It'll be on every newspaper in a couple of years time. Those reading my blog will have the satisfaction of knowing that they came across C.C before their friends and family.

Some Examples of Companies which revolve around Collaborative Consumption:

-AirBnB
-TaskRabbit
-Zipcar
-Zopa
-Netflix
-LoveFilm

Hope this was useful,
Rishabh Malu