Platform Economy

What is Platform Economy?

 

‘Platform Economy’ refers to the tendency of commercial solutions to move towards digital platforms to conduct their business. Here, the word ‘platform’ is used to denote the computer systems used to host the services that allow consumers and sellers to connect via a virtual marketplace and conduct their business.

 

The three most common types of platform economies are:

 

  • Transaction Platforms: It is basically an online marketplace where people buy and sell stuff.

 

  • Innovation Platforms: It is used to provide IT infrastructure and other technology frameworks.

 

  • Integration Platforms: It is the combination of transaction platforms and innovation platforms.

 

The platform economy has caused a stir by changing the landscapes of various markets as well as the jobs related to those markets. It has also disrupted the traditional retail markets while also building on the core foundations of the same.

More HR Terms

Ghent System

What is Ghent System ?    ‘Ghent System’ is the system used to pay unemployment benefits to unemployed individuals by trade unions instead of the

Bereavement Leave

Bereavement leave is also known as compassionate off where the organization provides time off to the employees for the loss of a loved one, immediate

Outsourcing

What is Outsourcing?   ‘Outsourcing’ is the process of hiring a third party to perform any insignificant tasks of a company in order to free

Contact Us

Contact Us

We use cookies on our website to provide you with the best experience.
Take a look at our ‘privacy policy’