The business of collaboration: Redefining value in a sharing economy
In an ever-changing world, traditional notions of ownership are rapidly shifting. On the one hand there is evidence to suggest that today’s consumers are increasingly viewing the enjoyment of experiences, rather than the ownership of possessions, as the social currency du jour. On the other hand, there is ongoing debate around who the actual “owners” (or custodians) of brands are. In essence, do corporations own brands, or are brands owned by their consumers and “fans”? This evolving social dynamic has given rise to a phenomenon known as the “sharing economy”: a blanket term for all the new business models that are allowing everyday consumers to share property, assets, skills, experiences, ideas and knowledge – both with each other and with the corporations or brands that form part of their world. This paradigm is rapidly changing the people think, behave and live. Simultaneously, it is shaping the ways people consume products, content and experiences, while redefining the value (an...
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