Kavan Choksi Discusses the Future World Economy

Kavan Choksi on the Collaborative Model's Role in the Future

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Kavan Choksi looks at the collaborative model of the economy. A new economic model that is collaborative and promotes the success of its members through incentive-based work. This model may very well be the future of business and the global economy.

Mobile technology is now more accessible than ever before. People are able to work from anywhere with just their phone and an internet connection. It’s part of an economic system in which people work together to create, distribute and maintain wealth, and it has helped businesses in a couple of industries. These include technology, transportation, communications, and hospitality. This kind of business model gives smaller companies a chance, and smaller businesses can now survive against conglomerates that rule industries.

During and after the 2007 recession, a new trend emerged. People discovered how practical it is to rent and borrow. Renting and borrowing became the best option for people affected by the financial crisis, and during this time, mobile technology became more innovative and more user-friendly. As an effect, we have become more technologically advanced, changing our everyday lives.

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In summary, three simple factors made the collaborative model more popular than ever. The world’s economy dropped. Most people realized that ownership was no longer as profitable and practical. Technological advancements in mobile communication.

In addition, Kavan Choksi says this business model isn’t just for business. It is also for the economy. A shared economy gives business owners a greater chance to be successful.

Perfect examples of this are Uber and Airbnb. These companies use and push the collaborative business model to its full potential. The model allows businesses to survive and thrive. It also offers consumers a ridiculous amount of convenience and savings.

What do you think of the collaborative business model? Do you think a shared economy is a good thing? Why or why not? Share your thoughts with Kavan Choksi in the comments section below.

Kavan Choksi is a freelance business management consultant. He shares his insights on business, finance, and economics on his blogs which can be accessed here.