October 26, 2011
The sharing economy refers to economic and social systems that enable shared access to goods, services, data and talent. New firms come from an array of industries, ranging from food delivery and transportation to childcare and medical services. Uber’s on-call car service and Airbnb’s lodging rentals may be the best known, but new entrants are emerging all the time.
There is no doubt that the sharing economy is transforming the way people travel, live and socialize. However, it has its critics in traditional companies; for example, taxi companies, commercial car parks, hotels and so on. Meanwhile, many such companies are experiencing worse-than-usual growing pains and are facing unforeseen risks as they arise.
So how can the sharing economy change people’s lives and traditional companies? How should we view the power of disruptive innovation that has been involved in the process? And how can firms effectively manage and mitigate their risk exposure?
Ni Hao, you’re listening to People In the Know, presenting you with insights into the headlines in China, and around the world, I’m Luo Yu in Beijing.
For more, I spoke with Shunee Yee, CEO and President of CSOFT International, a localization and translation company based in Beijing.
CSOFT International Ltd. is a world leader in localization and globalization consulting services, providing turnkey solutions for companies facing the challenges of engaging customers and markets across linguistic and cultural barriers. Recognized as one of the Top Innovative Companies in 2011 by IDC we have an award-winning international team. In 2012, the company’s CEO was named one of Fortune Magazine’s 10 Most Powerful Women Entrepreneurs and a Tech Disruptor by CNN Money.