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August - 2014 - issue > CEO Spotlight
Effects of Latest Trends on Sharing Economy
Sheeroy Desai
Co-Founder & CEO-Gild Inc
Wednesday, August 6, 2014
Founded in 2011, and headquartered in San Francisco, CA, Glid uses predictive technology that expedites the process of finding candidates and validating their skill set for its clients

In this era, there is a heap of technological trends, which are changing the traditional way of doing business. One such trend stirring disruption because of its scope and commendable efficiency is "Sharing economy", built around the notion of sharing of human and physical assets. Multi billionaire companies such as Uber and Airbnb are leading the path for other firms showing the potential and significance "sharing economy" contains.

For instance, a company short of employees, sharing its optional, extra office space with a company who in-turn is lending them their same skill-set talents for a time being is a time and cost effective solution for subjugating the deficit and void created by the shortages of these resources. Furthermore, collaborative consumption also facilitates trust formation within companies, better solutions to counter common challenges, and further expedite cultivation of talents. Sharing of facilities could stand for a short period but there resides a large opportunity to maximize economies of scale.

Driving Force behind the Sharing Economy

The driving force that is exploiting the dynamics of sharing economy is the ascent of social media, intuitive consumer apps and transcendence of information technology, in addition with population growth, and increasing global crises (financial, environmental and social). Presence of such ubiquitous technology has drastically changed the previous generation of non tech-savvy employees and companies infrastructure. Employees today are using their own mobile devices such as Smartphone and tablets to increase their work efficiency. This trend is implanting the seeds of consumerization of the enterprise, which will only boost the proliferation of the sharing economy.

The Modern Entrepreneur's Challenge

It is an unprecedented sight in front of us where we are witnessing the emergence of numerous startups and talented entrepreneurs. These entrepreneurs are paving their ways to success amidst strong competitors, opportunities and challenges.

The biggest challenge entrepreneurs of today are facing is their competition with other companies who are gaining instant momentum with a great speed. This gain of thrust could result from either attracting investors, huge finances in the arsenal or through innovation. This is a reason, which compels other entrepreneurs to make sudden changes in their ideation and plans to scale themselves. This on the other hand, requires a faster ramp-up curve for entrepreneurs to execute with an unprecedented speed. Entrepreneurs have to fathom one important thing that these challenges are nothing but other opportunities for them in disguise. (As told to Arun Kant)

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