Collaborative consumption in the blink of an eye: CPH Bike SOS

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    COLLABORATIVE CONSUMPTION IN THE BLINK OF AN EYE

    International Summer University Program at CBS, 2014

    Mobile reputations: Corporate communication and reputation management in the sharing and

    collaborative consumption era

    Collaborative consumption in the blink of an eye: CPH Bike SOS

    Course code: CCMVI2012U

    Course instructors:

    Dr. Betty Tsakarestou, Pantheon University

    Patricia Plackett - Department of Operations Management (OM)

    Student: Desislava Dobreva

    CPR:270191-3550

    Submission date: 01.08.2014

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    Executive summary

    This paper, created with the intention of going into depth in a relatively new phenomenon

    called Collaborative Consumption a concept that revolves around sharing and collaboration

    between individuals - examines the key drivers behind it and provides examples of key players in

    this new era of shared economy. Furthermore, it discusses challenges and critics opinions related to

    the concept and makes all the information relevant by telling the experience and learning outcomes

    of the author, Desislava and her team during a Hackathon event. The main goal of the team was to

    develop a new online platform enabling collaboration based on reputation and trust, in this case a

    mobile application called CPH Bike SOS. The lessons learned turn out to be extremely helpful in

    terms of creating a mobile platform with the intention of providing help for people in need of

    bicycle repair after working hours and enabling people to collaborate in order to successfully

    receive and provide help to each other. The paper is divided into two main parts, the first one

    discussing the rise of collaborative consumption and the circumstances around it and the second one

    - providing insight into the Hackathon Experience in the context of the sharing economy.

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    Table of contents

    INTRODUCTION ...................................................................................................................... 4

    SO WHAT IS THIS SHARED ECONOMY AND WHY DID IT CHANGE LARS LIFE?. 4

    UNDER THE MICROSCOPE:COLLABORATIVE CONSUMPTION............................................................ 5

    WHAT LIES BEHIND IT? ...................................................................................................................... 5

    REPUTATION AND TRUSTTHENEW CURRENCIES .......................................................................... 7

    KEY PLAYERS OR WHO WE CAN LEARN FROM ................................................................................ 9

    DOES EVERYONE AGREE? ............................................................................................................... 10

    MY HACKATHON EXPERIENCETHE GOOD, THE BAD AND THE AMAZING........ 11

    WHY COPENHAGEN? ....................................................................................................................... 13

    OUR BUSINESS MODELAND EVERYTHING THAT GOES WITH IT................................................ 14

    WHAT WAS LEARNED ..................................................................................................................... 15

    OUR SOCIAL MEDIA STRATEGY ...................................................................................................... 16

    FROM THEORY TO ACTION.............................................................................................................. 16

    WHAT COMES NEXT? ......................................................................................................... 17

    REFERENCES ....................................................................................................................... 19

    APPENDIX 1 .......................................................................................................................... 20

    APPENDIX 2 .......................................................................................................................... 21

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    Introduction

    Lars was a nice guy he had lots of friends, a nice family and many possessions that he

    adored. He had earned a lot of money in the past few years and he invested it mainly in

    furnishing his new house, buying a new car he rarely used and starting a new business.

    However, his business was struggling he could not understand why consumers, who in the

    past did not care much about the price, were now disregarding his hotel in their choice of

    accommodation while traveling. He had posted his hotel in all the relevant websites and yet, he

    was losing money. One day, while wondering what strategy he should adopt, he heard about

    something called Airbnb and he decided to check it out. Lars will always remember that day as

    the day that changed everything for him. A year later, Lars had started two new businesses

    based on something called Shared Economy and he had become a well-known speaker on

    topics related to it. His lifestyle had also changed drastically. For instance - he now shares his

    car with other people, instead of keeping it in the garage to collect dust and host spiders.

    SoWhat Is This Shared Economy And Why Did It Change Lars Life?

    We can start by calling what we are in today a paradigm shift. A shift towards valuing

    experiences more than valuing goods and preferring access to ownership. In other words, as Rachel

    Botsman, a global thought leader who has become the poster child for promoting collaborative

    consumption frames it - usage is starting to trump possession. Botsman has managed to frame the

    concept of sharing economy in a way no one else had before. As she states, collaborative

    consumption is a powerful cultural and economic force reinventing not just what we consu me, but

    how we consume. (Botsman, 2010). What is happening is that we are on the fast track of moving

    from passive consumers to creators, and finally - to collaborators.

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    I have divided this paper into two main partsfirstly I explain in depth what the shared economy is

    and how it is currently evolving, and secondly I go into my own experience during this course,

    including the Hackathon event and how I managed to improve my viewpoint on the way I thought

    business should be done.

    Under The Microscope: Collaborative Consumption

    If we think about it, we are not simply consumers anymore and businesses are starting to

    recognize this. We have become prosumers1in an era that is surely going to last more than anyone

    would think. Why? Because we have started to not only consume, but also shape the products that

    we use, and there is no going back from that. What we are witnessing is the emergence of a

    completely new ecosystem, one where we are all interconnected and interdependent, unlike any

    other hierarchical system. If this is not convincing enough, let us think about something else that

    will never let us go back to what was before technology. It has created a market for things that

    never used to have a marketplace, for instance - letting strangers stay into your home might have

    once seemed like a crazy idea, but now just ask Lars there is Airbnb and it uses power

    technology to build trust among strangers. It has everything to do with empowerment and people

    making connections. Personal relationships now mean more than empty transactions ever did and

    this is in the core of the shared economy.

    What lies behind it?

    This leads us to the key factors driving this economy forward and the first one can be found

    in a platform called Udacity a website offering massive open online courses. Their aim: to

    empower our students to advance their education and careers. The question here is, what is this

    1

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    organization doing that is so special and has such value in the shared economy? The answer - it is

    breaking down physical barriers. As Clay Shirky explains, the barriers that have before prevented

    like-minded people to come together are now falling apart.It is as simple as that if we want to

    learn, we do not need to go to a private tutor or to pay money to go to courses in a specific place at

    a specific timewe can do it from our homes anytime, day or night.

    Botsman identifies four main drivers for this change in consumer behavior and firstly she

    notes the torrent of peer-to-peer social networks and real-time technology fundamentally changing

    the way consumers behave, which best explains our Udacity example. She also mentions the

    renewed belief in the power of the community, which is definitely the most important factor for the

    participants in the shared economyby engaging in a community and establishing trusting online

    and offline relationships with other people, the way we consume is irreversibly changing. She also

    notes the pressing unresolved environmental concerns and, of course, the global recession.

    Continuing with my own examples, another key driver behind the shared economy is the

    desire to make already existing markets more efficient as in the case with Uber. Uber is a mobile

    application that links self-employed drivers to customers without the need to call or stop a taxi. As

    we can imagine though, the company has faced a certain backlash from taxi industries, arguing that

    companies like Uber and Lyft have an unfair advantage. However, should innovation be hindered

    simply because companies based on an old business model do not even want to try to compete? My

    opinion on the topic no, it should not. Startups like Uber have the same right as any other

    company on the market to try to attract customers. And they do it effortlessly because they

    represent an easier to use and cheaper alternative to regular taxis. We are in a time where social

    media is becoming the main source of news and events and population growth is providing us with

    even more opportunities for sharing resources and services. As Lisa Gansky states, there is gold in

    giving people convenient access to shared goods (Gansky, 2010). There have been cases where

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    whole industries and jobs have simply disappeared due to the emergence of a new and better

    alternative check-out clerks, due to the automated check-out lines; production workers being

    replaced by robots and automation; and an even greater example: cotton weavers were disrupted by

    the machines of the early Industrial Revolution in England, causing them to collapse from one of

    the highest paid industries at the time, to disappearing almost entirely. That being said, if new

    technology and more innovative startups really do have an (unfair) advantage, their competitors had

    better aim at regaining their customers trust and attention, instead of attempting to squash the new

    companies via regulations, lobbyists and lawyers.

    Reputation And TrustThe New Currencies

    When people pay attention, they remember, sometimes for a long time (Diermeier, 2011).

    When a company enters the stage of a reputational crisis, people will certainly pay attention. As

    Diermeier states, a reputational crisis can be a near-death experience for a company and the key is

    not just to think of what you do as damage control, but to actually turn the crisis into an opportunity

    to improve your companys reputation. As Botsman often notes, we are now in an era where

    reputation and trust have become the foundation of any business transaction, relationship and even

    business model. Reputation is now the measurement of how much a community trusts us and we

    can even talk about reputation capital, which, according to Botsman, is the worth of our reputation

    across communities and marketplaces. As I mentioned above, a new ecosystem has emerged, to the

    extent that even cities have become platforms. In other words, if we look closely enough, share

    platforms" are everywhere (Gansky, 2010). Ecosystems and platforms are both key elements in the

    new sharing economy, though there is a difference in perspective a platform can be a part of an

    ecosystem but it can also be a closed system, as, for example, Apples mobile operating system -

    iOS. Rachel Botsman has done impressive work on dividing collaborative consumption into three

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    systems called product service systems, redistribution markets and collaborative lifestyles

    (Botsman, 2010). The first one allows consumers to pay for the need the product fulfills, without

    fully owning itit is access-based, much like Spotifya digital music service that provides access

    to millions of songs. Bike sharing or car sharing are also great examples here. On the other hand,

    the redistribution markets system provides a place for used or pre-owned goods to be redistributed

    from where they are not needed to somewhere or someone who needs them, as Poshmark does an

    application that allows women in America to swap clothes among each other. Last, but not least,

    collaborative lifestyles allows the sharing and exchange of resources and assets such as time, food,

    space, skills, and money. Well known examples of this one are Airbnb, Couchsurfing and hopefully

    soonour own platform.

    To continue with the notion of trust and how important it has become, let us consider that trust is

    the magic word in managing reputational crises (Diermeier, 2011). All of the new platforms,

    business models, reputation-based ratings are part of a new community relying mostly on trust than

    on anything else. However, who we trust has changed (Brogan & Smith, 2010). When a crisis like

    this one enters a company, it happens often that the core of their business model is forgotten the

    need to maintain customers trust. We have witnessed a large number of businesses that have

    handled reputational crises poorly when the Exxon Valdez oil spill occurred, the company

    decided to try and shift the blame towards someone else. When Shell had to deal with the spill in

    the Niger Delta region, they did not want to accept the extent of the damages caused by the

    organization. The list is long and unfortunately, it continues, but the Gulf oil spill in Mexico caused

    by BP is definitely the worst and most terribly handled one in the history of the US. How BP dealt

    with the incidentthey downplayed it, with the CEOTony Hayward calling it relatively tiny in

    comparison with the size of the ocean. However, these types of poor judgments related to incidents

    that could potentially ruin a companys reputation are definitely not limited to only petroleum

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    companies. If we take a look at United Airlines and their 2008 guitar incident with musician Dave

    Carroll and his band, we will find out that indifference and denial to take responsibility are never

    good ways to handle a problem which can eventually turn into a crisis. After a very expensive guitar

    was broken by United baggage handlers and United refused to take any responsibility, Dave Carroll

    published a video2on YouTube called United breaks guitars I think we can guess how well that

    went for the company. The Intel incident with the flaw in their Pentium processors also goes in this

    list. As Leslie Helm tell us, Intel Corp.'s handling of the outcry over the flaw in its Pentium

    microprocessor is shaping up as a textbook case of how not to handle a crisis (Helm, 1994). There

    is definitely something to be learned here as I said, who we trust has definitely changed, and

    people do not put that much trust into corporations anymore, unless they change their business

    models and start working on having better relationships with their customers. As Gansky writes,

    the dominant ownership mindset has often blinkered our business brains. The fact is that our

    commerce, not to mention our social lives, has always depended on sharing (Gansky, 2010).

    Key Players Or Who We Can Learn From

    Rachel Botsman is probably always the first person that comes to mind when we discuss

    collaborative consumption. Apart from founder of the websitewww.collaborativeconsumption.com,

    she is the founder of The Collaborative Lab, an innovation incubator that works with startups, big

    businesses and local governments to deliver innovative solutions based on the ideas of collaborative

    consumption. Botsman has contributed greatly to the notion of shared economy, by educating

    people and companies and making sure we understand the benefits, challenges and outcomes of the

    new sharing age. Furthermore, there is another key player of extreme importance here, called The

    2http://bit.ly/1p6Adjq

    http://bit.ly/1oKj9TS

    http://www.collaborativeconsumption.com/http://www.collaborativeconsumption.com/http://www.collaborativeconsumption.com/http://bit.ly/1p6Adjqhttp://bit.ly/1p6Adjqhttp://bit.ly/1p6Adjqhttp://bit.ly/1oKj9TShttp://bit.ly/1oKj9TShttp://bit.ly/1oKj9TShttp://bit.ly/1p6Adjqhttp://www.collaborativeconsumption.com/
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    Mesh. It started out as a book by author Lisa Gansky, where she further explains that the mesh is a

    business model based on network-enabled sharing - on access rather than ownership (Gansky,

    2010). According to Gansky, creating a share platform is the first, necessary-but-not-sufficient

    building block of the Mesh. The second is to create an information infrastructure that takes

    advantage of mobile, Web, and social networks. Hence, this is where social media comes into the

    picture one of the most important things that Mesh businesses have learned and traditional

    businesses still need to learn is knowing how to take advantage of social networks. If we put on our

    Mesh lenses, as she calls them, we will be able to see everything around us in a very different

    way. We will probably notice how many people have started sharing clothes, cars, food and how

    they are turning it into a whole new experience based on trust and reputation. All of this exists

    thanks to the people who have created the platforms that enable sharing and to the people who

    dedicate their time and efforts to educate us about it. Looking, for instance, at Shareable - the

    primary global online magazine on the sharing economy, or at The People Who Share a UK non-

    for-profit with a mission to mainstream the sharing economy, we can be sure that not long from

    now everyone will realize the potential this age of sharing holds both for businesses and individuals,

    as well as for our environment. After all, by sharing transportation and assets we are constantly

    reducing carbon foot print, and not to mention saving costs by borrowing and recycling items

    sounds like a win-win situation.

    Does Everyone Agree?

    As with every new phenomenon though, not everyone agrees about how beneficial

    collaborative consumption can beon the contrary, there are various opinions on the topic, starting

    with the matter of costthe infrastructure needed to enable sharing might be expensive. People are

    also discussing how sharing occurs only for certain periods of time when convenient for consumers,

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    not for everyone. For instance, Zipcar is available only on certain lots across Toronto and if you

    move out of those areas, your sharing is not effective anymore. Critics think this will happen for

    everything that is not readily available or popular, hence they don't believe the "owning society" is

    going away any time soon. Other people have mentioned that we just need to teach ourselves to buy

    less things and teach our children the same, and we would not need collaborative consumption. Of

    course, we cannot forget the fact that Uber has come under fire for operating in gray areas of

    legality and that even Airbnb has faced regulatory challenges at the municipal level in San

    Francisco and New York. In addition to that - a cease-and-desist warning was issued to Lyft and

    SideCar, two popular ridesharing services based in San Francisco. The Huffington post even went

    as far as to state that the so-called sharing economy is more about greed than altruism (Chase,

    2014, July 25). In their opinion, the vast majority of sharing economy startups aim to build bridges

    between buyer and seller without any consideration for other audiences, by which they mean that

    these startups do not take into consideration the community outside of their internal transactions.

    We can continue to ponder on all of this and dive into the critics arguments, but instead of doing

    that, we3decided to take things into our own hands and create our own startup based on community,

    trust and reputation and see where that leads us.

    My Hackathon experiencethe good, the bad and the amazing

    CPH Bike SOSFind reliable helping hands 24/7 everywhere around Copenhagen.

    As can be inferred from our logo, our project aims to help people by providing a service that

    enables collaboration and communication between them in a world where individual ownership is

    becoming less and less important, opening the door to something elseaccess. In this caseaccess

    3

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    to help anytime, day or night. As we discuss in our blog4, the difference between companies from

    the 20thcentury and companies from the 21stcenturies is that the main goal of the first ones was to

    make a profit. However, now the trend has changed and it is moving towards helping each other

    through the sharing of resources - making a profit is only a secondary effect of this, not the main

    goal. We rely on the fact that communities dont want to be managed they want to be cared for,

    as Brogan and Smith tell us (Brogan & Smith, 2010).

    Why in the blink of an eye? My team and I, over the course of a months time planned a mobile

    application and a whole new business model from scratch a process than normally takes months,

    if not years. For us the month passed exactly in the blink of an eye nevertheless, we managed to

    achieve great results and we have faith our idea has a bright future.

    The context behind our idea is not hard to understand Copenhagen5 is a city where 50% of the

    citizens commute by bicyclesthere are more bikes there than actual inhabitants. We can imagine

    how often it happens that someone encounters a bicycle problem after working hours and faces a

    tough situation. This is where we come inour idea is to develop a mobile application called CPH

    Bike SOS that helps customers get in touch with people who are willing to lend a helping hand even

    if it is during the night. Much like Lars, for us there was also a specific moment when everything

    changed and we came across this idea, and, of course it happened while we were biking. When

    one of our teammates chain fell off and it was already midnight, we started thinking about what we

    can do in order to help people escape these types of situations easily and cheaply. Our mission is to

    establish a mobile platform open for participation in order to enhance collaborative lifestyles in

    Copenhagen. Our vision empowering cyclists, inspiring everyone. In addition to that, we

    4http://bit.ly/1rPvF7c

    5

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    believe that a platform such as this one may serve not only as a tool that helps people find bike

    repair services, but also as a source of inspiration for others faced with different problems maybe

    seeing our application, they will come up with an idea to solve other problems people are faced

    with. Our plan is for our service to enable people in the local community to share their time, skills,

    and tools to help others who find themselves in need of bicycle repair services. This will also give

    people who use the service an opportunity to socialize and meet new people in their communities,

    thus building up trust and reputation online.

    Why Copenhagen?

    Apart from its reputation that I already mention in the beginning of the paper, as a city

    where 50% of the people use their bicycles as main means of transportation and a city that has

    managed to maintain a leading global media image while also keeping a steady stream of positive

    comments, status updates and tweets (Stanners2012, April 1st), Copenhagen has proven to be a

    successful platform a platform for sharing and collaboration. If we take a look at

    www.sharingcopenhagen.dk,we will find out that Copenhagen won the European Green Capital

    Award presented by the European Commission and has now created a platform with events related

    to sustainable lifestyle, climate and green transformation and green mobility. Copenhageners have

    set a goal to be carbon neutral by 2025, which is more than impressive and is one of the main

    reasons we believe our platform can contribute to peoples healthy lifestyle. We can help

    Copenhagen be known not only as a city full of bikers, but also as a city where bikers are not afraid

    to extend a helping hand and aid each other in times of need, which will positively enhance the

    reputation of the city. We are hoping to also contribute towards Copenhagens top position in the

    list of cities with the best quality of life (Leigh, 2014).

    http://www.sharingcopenhagen.dk/http://www.sharingcopenhagen.dk/http://www.sharingcopenhagen.dk/
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    Our Business ModelAnd Everything That Goes With It

    After the initial brainstorming, our planning process began with the Lean Canvas a model

    introduced by Ash Maurya6, his adaptation of Alex Osterwalders Business Model Canvas. The first

    decision that we made and agreed upon was the creation of a mobile application, which seems like

    the best choice, given the fact that we virtually have no competitors in that area no similar

    business in Copenhagen has yet created an application. Before the Hackathon we had several team

    meetings where we discussed the challenges we faced, the opportunities we had and how we could

    make it all work out. Being from different countries, all of us, each person had his own unique ideas

    and insight, which made the process a lot easier and more creative. In spite of that, while discussing

    ideas for revenue streams, we found ourselves dealing with too many and, hence with the

    difficulty to choose and make final decisions. Therefore, we decided to postpone this conversation

    and went further into discussing things such as reputation-based incentives for our application users

    and specifying our target audience and potential early adopters. Before the event we had already

    planned how our application would look like, using our own drawings and then an application

    called POP, to make the planning easier. What we did not realize at the time was that this was not

    final and we should never relay too much on the first iteration that we created. Diving into the

    Hackathon, after talking with two application developers, we found out that we had several weak

    spots in our plan, so we had to transform everything and make new iterations at least 3 or 4, as

    they advised us. We changed the initial way that we thought our customers would find help and

    made it easier and more share-friendly using pictures with descriptions of the problem. At that

    time we also realized that our main challenge for this platform will be free riderspeople using our

    platform once and then completely ignoring it and contacting the person from it directly. This lead

    6

    See appendix 1

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    to us coming up with a plan about how to retain people we had to rely on a trust and reputation-

    based system that would serve as an incentive to our users to keep using the application. By

    building their own mobile reputation and engaging in a community based on trust, they would see

    that the application is more beneficial to them than they initially thought. Similar to Taskrabbita

    company set around outsourcing tasks online, we are going to use online relationships to get things

    done in the real world in this case, repairing bikes. Like Zipcar, we also realized along the way

    that more than anything else, we are going to be an information company we provide valuable

    information to people which they use to find reliable help around Copenhagen.

    What Was Learned

    Of those startups that succeed, two-thirds report having drastically changed their plans

    along the way (Maurya, 2012), and this is exactly what happened to us during the Hackathon.

    After a long discussion with our helpers, we divided several tasks among us and started working

    Juan and Mauricio on the next iterations, using Balsamiq Mockups, Desislava and Julia on

    developing an aligned image for all social media channels and Kira and Paola going over the lean

    canvas again. Apart from learning that we work really well together, we could not help but realize

    that we were too quick to think we were ready with all the planning before the event. We now know

    that planning a mobile application takes a really long time, effort and long talks and can never be

    done in just a few hours or days. We had to let go of the mindset that we were going to do

    everything in one day and start thinking like entrepreneurs we were building the foundations of

    what could one day be a successful startup.

    All of this made me think about trust agents as Brogan and Smith tell us in Trust Agents,

    the tool you are using is not as important as the message you are trying to convey, as long as it is

    guided by integrity and honesty, which lead to a certain level of trust. After all, all successful

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    relationships are about trust both online and offline ones, and what we are trying to do with our

    platform really inspires me to become a trustworthy person with a trustworthy message and

    business. I definitely learned that in order to become a trust agent, I need to be concise and careful

    with my words, especially since I am running all the social media channels for CPH Bike SOS, due

    to my background in social media. In addition to that, I believe that if an idea is made easy enough

    to be shared, it will spread at an unbelievable rate that was never imagined.

    Our Social Media Strategy

    This is why Twitter is our most important social network the 140 character limit is

    something I always try to follow even on Facebook and Instagram, because it is the perfect length

    for a message to be seen and shared. Also, if I take Rangaswamimanaging director of BT design

    for BT group, as an example here, I can easily clarify how our Instagram account will function in

    the future. He has a blog connected to cricket, music, food and many things not related to a major

    telecommunications company; yet, because of his stories and conversational writing tone we trust

    Rangaswami and have a positive opinion about BT (Brogan & Smith, 2010). We are using

    storytelling as our main tool of drawing attention to our brand, and even though our Instagram

    profile is not created to promote our services, it also serves an important function telling stories

    and showing pictures in order to build trust in our business.

    From Theory To Action

    Our idea is the perfect example for a business model aimed to function in the new

    collaborative consumption era the very core of it is based on trust and reputation, as well as on

    peoples desire to lend a helping hand when they find a person in need. Of course, money also

    comes into the equation, but it comes as a secondary benefit. As our blog says, we are not in it for

    the money we are in it to help people (Mobile reputations, 2014). Therefore, as already

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    mentioned, our service falls under Botsmans collaborative lifestyles system, and, additionally in

    the services section of a model called Collaborative Economy Honeycomb7- a model that organizes

    the economy into families, subclasses and adds examples to the list. In the middle of it is listed the

    core principle of the shared economythe empowered people, the collaborators. Our platform aims

    to empower people to find help immediately instead of falling into desperation or panic. However,

    there is a secondary benefit to our application the helpers will benefit from a strong online

    reputation based on ratings from customers that were helped by them. This should strengthen our

    own brand image and reputation, as providing reliable help is the first step towards having a loyal

    community of customers and becoming a trust agent.

    What Comes Next?

    To conclude - there will always be people who, for the lack of e better term, hate they

    are the ones who disclaim everything new and want nothing more than to stick with the old and

    traditional things, such as ways of doing business, producing large amounts of waste, doing

    everything alone. However, my team and I, we are gazing into the future and what we are seeing is

    amazingpeople both sharing and caring. Up until now reputation did not matter much, neither did

    trust. But how can you do business with someone without trusting them? Empty transactions do not

    mean much anymore and everyone is starting to expect more. Not only is the sharing economy

    winning, but it is also delivering social impact, states The Huffington post. The argument

    Hundreds of Skillshare teachers have earned five or six-figure incomes this year alone. Numerous

    clients have received job offers on the basis of products from Skillshare classes. ClosetDash has

    taken over 11,000 pieces of clothing which otherwise could have ended up in the landfill. Further,

    purchasers saved thousands of dollars, helping reduce personal credit card debt, a salient concern

    7

    See appendix 2

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    for every US household after the financial crisis. Mealku has not only enhanced personal incomes

    but also improved local relationships and accountability; not one meal in the thousands delivered

    has resulted in food related illness, a standard well above typical commercial food establishments.

    (Ward, 2013). This alone should prompt people who are in doubt to learn more and start

    participating in what seems to be the future for us, and by us I mean everyone because who is

    going to be the person who stands up and says less waste and less want is bad? It is definitely

    interesting for us to see how the concept of shared economy unfolds, because these are exciting

    platforms that not only bridge the gap between supply and demand, but also enrich the lives of those

    who benefit (Stinson, 2014). If you are still in doubtjust ask Larshe can explain all about how

    collaborative consumption changed both his way of doing business and his lifestyleand he is only

    one of the thousands of examples.

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    References

    1.

    Botsman, R. (2010, May). Rachel Botsman: The case for collaborative consumption.

    [Video file] Retrieved from:

    http://www.ted.com/talks/rachel_botsman_the_case_for_collaborative_consumption/

    transcript

    2.

    Brogan, C., & Smith, J. (2010). Trust Agents. Using the Web to build influence,

    impose reputation and earn trust. Hoboken, NJ: John Wiley & Sons, Inc.

    3. Chase, B. (2014, July, 25). Sharing is Caring. But Not in the Sharing Economy. The

    Huffington Post.Retrieved from: http://www.huffingtonpost.com/brad-

    chase/sharing-is-caring-but-not-millenials_b_5618963.html4. Diermeier, D. (2011).Reputation Rules. Strategies for Building your companys

    most valuable asset. McGraw-Hill.

    5. Gansky, L. (2010). The Mesh. New York, NY: Penguin Press

    6. Helm, L. (1994, December 13). Intel's Handling of the Pentium Defect Chips at Its

    Image.LA Times. Retrieved from:http://articles.latimes.com/

    7. Leigh, G. Quality of life cities. (2014). Retrieved: July 30, 2014 from

    http://monocle.com/film/affairs/quality-of-life-cities/

    8.

    Maurya, A. (2012).Running lean. Sebastopol, CA: O'Reilly Media

    9. Shirky, C. (2008).Here comes everybody. New York, NY: Penguin Press

    10.Stanners, P. (2012, April, 1). Copenhagen is the best city at being a best city. The

    Copenhagen Post.Retrieved from:http://cphpost.dk/news/copenhagen-is-the-best-

    city-at-being-a-best-city.1178.html

    11.Stinson, T. (2014, May, 14). How Collaborative Consumption Companies Are The

    Future Of Business.Elite Daily.Retrieved from:http://elitedaily.com/money/how-

    collaborative-consumption-companies-are-the-are-the-future-of-business

    12.Under the microscope: Collaborative Consumption. (2014, July). Retrieved from:

    http://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-

    group-1/

    13.Ward, C. (2013, June, 12). Collaborative Consumption: A Winning Model for the

    Future Economy. The Huffington Post. Retrieved from:

    http://www.huffingtonpost.com/christina-ward/collaborative-

    consumption_2_b_4388470.html

    http://articles.latimes.com/http://articles.latimes.com/http://articles.latimes.com/http://monocle.com/film/affairs/quality-of-life-cities/http://monocle.com/film/affairs/quality-of-life-cities/http://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-group-1/http://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-group-1/http://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-group-1/http://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-group-1/http://mobilereputations.wordpress.com/2014/07/04/the-collaborative-economy-group-1/http://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://elitedaily.com/money/how-collaborative-consumption-companies-are-the-are-the-future-of-businesshttp://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://cphpost.dk/news/copenhagen-is-the-best-city-at-being-a-best-city.1178.htmlhttp://monocle.com/film/affairs/quality-of-life-cities/http://articles.latimes.com/
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    Appendix 1

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    Appendix 2

    Source: http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-

    honeycomb-osfest14/

    Source:http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-

    honeycomb-osfest14/

    http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/