Innovation in business model as a response to the sharing economy

Abstract

Purpose – The sharing economy (SE) is significantly affecting traditional companies, which have felt a need to adapt their business model. The aim of this study is to identify the different types of adaptation developed by companies within a SE context, and to examine how they relate to their characteristics. Design/methodology/approach – A content analysis involving 149 real-world adaptation cases was carried out, after which a Kruskal–Wallis test and a multiple correspondence analysis were used to explore the relationships between the types of adaptation identified, the business characteristics and the strategic decisions taken for these adaptations. Findings – Through the analyses proposed in the study, the main conclusions suggest that the way companies adapt to SE is related to business characteristics and the strategic decisions taken for these actions, demonstrating throughout the article what types of adaptations are made depending on variables such as sector of activity or business orientation. Originality/value – This study is the first to examine the variables affecting the decisions among traditional companies in response to the SE. In addition, this work explores the SE from the business point of view, shedding light on the participation in SE by traditional companies.