The 'Sharing Economy' and Corporate Travel Programs
Are they mutually exclusive or is there a happy medium?
Without a doubt, technology and the ways in which people are connected by the Internet has changed the way we buy and sell any number of commodities. Accessibility of goods is easier now and finding new and different things due to the competitive selling behavior of suppliers has driven unique changes in the distribution of goods.
The following paper provides a background on the sharing economy, its roots and major players in the corporate travel arena today. An overview of the positives and negatives of these services against traditional business travel services will be explored, with recommendations provided for organizations who may be considering using these services to supplement their business travel programs.
What is the sharing economy?
The sharing economy (also commonly known as peer to peer or p2p) refers to individuals renting things they need from others using technology-based networks that facilitate transactions. These new forms of rental are springing up in all kinds of areas, from bedrooms, cars, garages and storage spaces to accommodation for pets and more.
This is no longer considered a fad but recognized as a robust trend that is transforming society and business models, similar to what Facebook and Twitter once did for social networking. It is also driven by the desire to be more sustainable in the longer term.