Generic Case Analysis of Uber

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Table of Contents

Introduction
Relation to Class Material
What Other Companies Should Do
How I Can Use This Information
Conclusion
References

Introduction

Uber is one of the global leaders in the transportation industry, providing taxi and delivery services in more than 93 countries around the world. It has become one of the first brands that represented a sharing economy, creating a new approach to providing taxi services by offering the opportunity to call a cab at any time or location. Moreover, Uber introduced the option to choose various options for a taxi, from economy to business, with cars ranging from simple sedans and coupes to premium types. The company’s strategy of diversification has proven to be disruptive to the whole taxi industry, as Uber used innovative technologies to establish a new model of providing taxi services. With the advantage of GPS mapping and the evolution of websites and smartphones, Uber created an ecosystem of efficiently sharing information between clients and taxi operators. The company focused more on creating a virtual-based business rather than a capital-intensive model, which allowed it to adapt quickly and effectively to market changes.

Relation to Class Material

The case of Uber provides real-life and relevant evidence how innovative approaches to business can lead to global success. The fact that Uber decided to step away from, at the time, already established and fairly profitable capital-intensive model of taxi business to develop a completely different one is rather relevant to the course. Rothaermel (2020) adds that a well-defined strategy allows a company to establish an overall approach to dealing with competition and challenges. It shows how important it is to engage in innovative entrepreneurship and can be used to demonstrate the need to anticipate and predict changes in technology to secure business advantage. This is especially important nowadays, as technological progress continues to go forward rather fast, and start-ups need to adapt to changes and implement them into their strategies with the intention of creating innovations.

What Other Companies Should Do

Currently, Uber has significant competition in form of Lyft, Ola Cabs, as well as local taxi businesses in the countries it operates in, such as, for example, Yandex Go in the CIS region. Still, Uber’s competitive advantages lie in its strong and well-recognized brand identity, a diversified pool of services, low fixed investments, and flexible pricing strategy. Other companies that strive to compete with Uber should take note of the company’s highly adaptive nature as Uber continues to improve their marketing approaches and technological assets such as app and websites. Rothaermel (2020) also emphasizes that a competitive advantage is always relative, so it is crucial to always look for new opportunities. Other companies might try to lower their overall prices, using local specifics to compensate for expenses and develop a more dynamic strategy toward implementing innovations.

How I Can Use This Information

I can apply Uber’s innovative thinking methods to my own professional life and career by facilitating my own interest in technology and its future development. Understanding the direction in which technological progress expands and learning how to use it to my advantage can help me gain more insight into possible opportunities for establishing my own business. Moreover, I see it as incredibly important to be fluent in various areas of science to be able to recognize relevant assets and predict future events. The ability to adapt quickly and efficiently is crucial for the modern world, and the case of Uber helps me understand how to employ this skill into my professional and personal life.

Conclusion

Despite the annual losses in the billions, the opposition of the authorities, and the actions of angry taxi drivers, Uber has captured almost the entire world and has prompted the emergence of numerous clones. Even the name of the company has turned into a neologism: the word “Uberization” has entered many languages of the world and has become synonymous with the sharing economy. I think that Uber’s success is a prime example of the advantage of innovative thinking and strategic entrepreneurship, showing that the path to success in the modern world is associated with adaptability and technological fluency.

References

Rothaermel, F. T. (2020). Strategic Management. New York, NY: McGraw-Hill Education

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Generic Case Analysis of Uber

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