Integrating Gig Economy and Social Media Platforms as a Business Strategy in the Era of Digitalization

Abstract

Businesses around the world have now thrust on becoming part of ‘gig economy’ which due to Covid-19 has become a new norm in the US and other countries in Europe. Gig economy, integrated with technology and varied social media and digital platforms, seems to be an effective business strategy to stay alive and grow sustainably in modern businesses. In fact, Gig economy and entrepreneurial spirit have a symbiotic relationship. In a sense ‘to gig’ is possible only if the entrepreneurial urge is there. Without the entrepreneurial spirit, ‘gigging’ remains unimaginable. The chapter explores the post-Covid pandemic scenario that has caused large-scale disruption in all areas of human life wherein gig economy has emerged as important part of almost every economy through out the world. An attempt has been made to work out conceptually the relationship between entrepreneurial spirit and gig economy and how entrepreneurial spirit can govern gig economic arena to benefit short-term employment sector, and thus resulting in boosting the larger economic activity across the globe.