Following Uber Technologies Inc. recent IPO on New York Stock Exchange, a company which has dominated the ride-hailing market since its inception in 2009. Let us examine Uber's business model.

As Steve Jobs once said "The old will make way for the new."
The new is now the Shared Economy business model which is replacing the traditional business models. Mushrooming businesses in the last 10 years have embraced the use of shared economy business model in order to scale at a lower cost.

Sharing economy business models are hosted through digital platforms that enable a more precise, real time measurement of spare capacity and the ability to dynamically connect that capacity with those who need it. The ability to monetize underutilized assets has been the major driver of this model.

A few years ago, the motor cyclist business in Uganda commonly known as "Boda boda"  was dominated by lions and tigers who rented out space in the best locations in the towns, little did they know that with shared economy this was about to end. We are operating in a society that wants what it wants, at the exact moment it wants it.

Whatever business you are in today, Sharing economy is a too big opportunity to miss, organizations should continue assessing the need to incorporate it into their business model.

If sharing economy has proven to be a very successful model in a fast changing world, as the old always make way for the new, Sharing economy can also be disrupted tomorrow therefore organizations need to continuously examine ways to bundle and unbundle the value exchange for maximum customer benefit and maximum competitive advantage.

About author
Ssemwogerere John is an opinion Editor with Latern Post. He is very passionate about business economics, finance and accounting.