{"id":16019,"date":"2013-10-30T05:24:46","date_gmt":"2013-10-30T12:24:46","guid":{"rendered":"http:\/\/www.web-strategist.com\/blog\/?p=16019"},"modified":"2013-10-31T14:02:31","modified_gmt":"2013-10-31T21:02:31","slug":"big-companies-embrace-the-collaborative-economy","status":"publish","type":"post","link":"https:\/\/web-strategist.com\/blog\/2013\/10\/30\/big-companies-embrace-the-collaborative-economy\/","title":{"rendered":"Big Companies Ignite a Spark in the Collaborative Economy"},"content":{"rendered":"<p><center><a title=\"Sparks of Inspiration by Andrew Stawarz, on Flickr\" href=\"http:\/\/www.flickr.com\/photos\/stawarz\/2598522408\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/farm4.staticflickr.com\/3088\/2598522408_151efafe22.jpg\" alt=\"Sparks of Inspiration\" width=\"500\" height=\"332\" \/><\/a><\/center><br \/>\nIn just the last few days, the market has noticed how P2P sharing and customer collaboration is picking up. \u00a0From my vantage point, this indicates that the market is realizing that the Collaborative Economy is the next phase of sharing. \u00a0It bears repeating that the first phase of sharing is in the realm of media and ideas, which we call Social Media. The next phase of sharing is in the physical realm (goods, services, space, and money) which some call the Collaborative Economy. \u00a0Because of my corporate focus, I use this broader term, as it encompasses the Maker Movement, crowd-funding, and co-innovation, which are all parts of companies sharing with the people  beyond P2P<\/p>\n<p>This transition doesn&#8217;t come without pain.\u00a0The heat from friction is an indication that the balance of economic power is changing. \u00a0A silicon valley cab company   you know, the old style kind that are yellow, not a sleek, tech-enabled black town car   <a href=\"http:\/\/www.sanjose.com\/news\/2013\/10\/23\/ridesharing_service_lyft_disrupts_silicon_valley\">claims that Uber and Lyft have eaten away at 30% of their business<\/a>. \u00a0The battle continues between NY and Airbnb, where advocacy group\u00a0<a href=\"http:\/\/action.peers.org\/page\/s\/legalize-sharing-ny\">Peers.com has obtained 88,000 signatures in support of restrictive legalization<\/a>. \u00a0We see market forces reacting to each other, as enablers of this movement and companies who want to leverage this force, adopt the same strategies:<\/p>\n<ul>\n<li><strong>Salesforce plants an enterprise software flag.<\/strong>\u00a0 Salesforce has published the\u00a0<a href=\"http:\/\/gigaom.com\/2013\/10\/19\/four-business-opportunity-that-remove-barriers-to-the-sharing-economy\/\">four business opportunities that remove barriers to the sharing economy<\/a>. \u00a0I shared the stage with Peter Coffee at the Magnet360\u00a0<a href=\"http:\/\/www.magnet360.com\/events\/becoming-a-customer-company-2013\/\">event<\/a>\u00a0in Minneapolis a few weeks ago, where we focused on the Collaborative Economy with a large hall filled with marketers. \u00a0Peter does a fine job bringing a tech perspective that focuses on how mobile devices, big data, and analytics can fulfill these market desires. \u00a0I anticipate that enterprise software vendors like Salesforce, IBM, Ariba, Adobe, and Lithium are well poised to help large companies enter this space.<\/li>\n<li><strong>Accenture explores new insurance revenue models.<\/strong>\u00a0 Accenture has published a\u00a0<a href=\"http:\/\/insuranceblog.accenture.com\/tag\/sharing-economy\/\">three part series on sharing and insurance<\/a>. \u00a0They explore untapped opportunity for new insurance providers to offer new forms of coverage as people continue to borrow goods instead of owning them outright. \u00a0<a href=\"http:\/\/meshing.it\/book\">Lisa Gansky&#8217;s<\/a>\u00a0&#8220;Access trumps ownership&#8221; Mesh mantra focuses on how power changes as more things become interconnected. \u00a0Now, large financial institutions can benefit from this new opportunity by providing new &#8216;asset-light coverage policies&#8217; that protect both owners and those who borrow goods, space, and more.<\/li>\n<li><strong>Motorola and others embrace the crowd.<\/strong>\u00a0Motorola\u00a0has <a href=\"http:\/\/www.theverge.com\/2013\/10\/29\/5041336\/motorola-project-ara-modular-smartphones\">forged ahead with cross platform Phoneblox<\/a>, while other examples of co-innovation are emerging. This radical phone is modular, made to last, and designed for the whole world. \u00a0It makes currently dominant Apple feel like &#8216;the man&#8217; shifting the &#8220;Think Different&#8221; moniker over to Motorola&#8217;s court. \u00a0Imagine a product that&#8217;s community built, community designed, with components that can be 3D printed, shared, or modified, similar to the characteristics of the internet. \u00a0In addition, Innocentive has launched a thought piece showing how many large brands, like Anheuser-Busch, Coke, General Mills, Nokia and Unilever,\u00a0<a href=\"http:\/\/www.innocentive.com\/blog\/2013\/10\/18\/5-examples-of-companies-innovating-with-crowdsourcing\/\">are embracing co-innovation<\/a>. \u00a0They aren&#8217;t the only ones. \u00a0<a href=\"http:\/\/www.pcadvisor.co.uk\/news\/network-wifi\/3475303\/sharing-with-strangers-fon-wants-to-be-the-zipcar-of-wi-fi\/?olo=rss\">FON is even launching a product that shares<\/a>\u00a0its Wi-Fi signal with others, making sharing intentional and increasing its value.<\/li>\n<li><strong>Ikea enables a marketplace of used goods<\/strong>. \u00a0Like eBay,\u00a0<a href=\"http:\/\/adage.com\/article\/creativity-pick-of-the-day\/ikea-creates-platform-hand-furniture-sales\/244980\/\">Ikea encourages people to exchange second hand goods<\/a> rather than buying new. \u00a0People are sharing, selling and renting products in a second hand market. \u00a0Savvy brands will enable this practice.\u00a0 Ikea collected used furniture, did a media blitz promoting it for sale, and launched a marketplace using online tools, Facebook, and media buys. \u00a0All of the used furniture was sold. \u00a0Why would a company encourage the sale of used goods rather than selling new? \u00a0The answer is simple: commitment to community, environment, and driving deeper engagement that can yield return sales later.\u00a0 A few months ago,\u00a0<a href=\"http:\/\/www.web-strategist.com\/blog\/2013\/04\/27\/blue-ocean-opportunity-branded-collaborative-economy-software\/\">I identified this as a software market waiting to be fulfilled<\/a>. \u00a0Thanks to\u00a0<a href=\"https:\/\/twitter.com\/Kusti\">Juho Makkonen<\/a>\u00a0for the link.<\/li>\n<li><strong>HP commits to 3D printing.<\/strong> \u00a0Meg Whitman announced that the company will have <a href=\"http:\/\/www.technologyreview.com\/news\/520711\/hps-3-d-printer-is-a-marvel-that-you-probably-wont-own\/\">3D printer solutions at the industrial or enterprise level by 2014<\/a>. \u00a0Although there are numerous examples on the consumer side, HP makes a play for the mid market. \u00a0This enables creation of complex parts, from medical to devices to become highly personalized, built at local level, and all on-demand. \u00a0Manufactures, suppliers, and retailers who are focused on centralized production, scheduled shipping of standardized parts need to revaluate their business model. \u00a0Because of HP&#8217;s client footprint, and existing supply chain relationships, they could scale the roll out of these printers, quickly. \u00a0(Added Oct 31)<\/li>\n<li><strong>The government grants crowd-funding.<\/strong>\u00a0 The\u00a0<a href=\"http:\/\/www.usatoday.com\/story\/money\/business\/2013\/10\/23\/crowdfunding-ipo-sec-jobs-act\/3169395\/\">SEC allows Crowd-funding<\/a>\u00a0. Certainly this is not a &#8216;company,&#8217; but the SEC \u00a0weighing in on crowd business models holds weight. \u00a0In support of boosting the economy, small\u00a0businesses that struggle to get support from traditional funding institutions can now more easily tap the crowd. \u00a0The SEC has reduced the friction of crowd-funding by allowing those who seek to raise capital from the crowd to &#8220;bypass the traditional costs of going public, which usually involves hiring costly investment bankers and accountants.&#8221; \u00a0This means that innovation will come from the smaller companies and will be heavily supported by the crowd, who will fund them, further shifting power.<\/li>\n<\/ul>\n<p>So there you have it, in just a few short days, we&#8217;ve seen a proliferation of business-focused articles emerge, with a focus on how large companies will develop new business models in the next phase of sharing   or else be disrupted by it. \u00a0If you&#8217;d like to learn how these business models must change, see\u00a0<a href=\"http:\/\/www.slideshare.net\/jeremiah_owyang\/the-future-of-business-models\">my Slideshare on the Future of Business Models<\/a>, or read my larger\u00a0<a href=\"http:\/\/www.web-strategist.com\/blog\/2013\/08\/22\/table-of-contents-the-collaborative-economy\/\">body of work on what this means to business<\/a>, or peruse\u00a0<a href=\"http:\/\/www.web-strategist.com\/blog\/2013\/02\/26\/collaborative-economy-brand-edition\/\">my running list of brands that are moving into this space<\/a>.<\/p>\n<p style=\"padding-left: 30px;\"><em>Images used with creative commons license by <a href=\"http:\/\/www.flickr.com\/photos\/34613366@N00\/2598522408\/in\/photolist-4XC7bu-4XxQXa-3Xzz8v-5VYuVU-4wBjSL-7JK1ML-7JF6nr-7JF6Dr-7JK25S-7JK8gf-7JF93K-7JFbgF-7JF7jc-7JFcqc-7JF7XD-7JF6Jp-7JK2tu-7JK54m-7JK821-7JFbzK-7JFbqB-7JK3bw-7JK6FS-7JFbPi-7JK47f-7JFaLz-7JK8yS-7JF7DD-7JK2Cu-7JF8w4-7JK7Ff-7JF9fv-7JFb7i-7JK2Mh-7JFacR-7JK8tY-9enrvz-8LyAGx-96mNJZ-aoMycV-fb7hKy-faRZSX-faRYrD-faS3jv-fb7gbh-cuw2jL-aGbeaB-7u7R6m-4vynRz-eDyxdB-dKfEq6\">Andrew Stawarz<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In just the last few days, the market has noticed how P2P sharing and customer collaboration is picking up. &nbsp;From my vantage point, this indicates that the market is realizing that the Collaborative Economy is the next phase of sharing. &nbsp;It bears repeating that the &hellip; <a href=\"https:\/\/web-strategist.com\/blog\/2013\/10\/30\/big-companies-embrace-the-collaborative-economy\/\" class=\"more-link\"><span>Continue reading<span class=\"screen-reader-text\">Big Companies Ignite a Spark in the Collaborative Economy<\/span><\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198],"tags":[],"class_list":["post-16019","post","type-post","status-publish","format-standard","hentry","category-collaborative-economy"],"_links":{"self":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/16019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/comments?post=16019"}],"version-history":[{"count":0,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/posts\/16019\/revisions"}],"wp:attachment":[{"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/media?parent=16019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/categories?post=16019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web-strategist.com\/blog\/wp-json\/wp\/v2\/tags?post=16019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}