Today’s taxi services have improved a lot. There are many alternative ways to satisfy clients, provide appropriate services, and obtain a variety of financial and organizational benefits today. Despite the fact that there may be problems and mistakes throughout a decision-making process, taxi companies endeavor to address issues in a quick time frame and ensure that employees and customers are content with the conditions supplied.
Uber is a well-known taxi firm across the world. Its services may be utilized in several American cities, as well as European cities such as Rome, Minsk, Lisbon, Turin, and others. Uber is a company that provides excellent employment opportunities for drivers and high-quality customer service.
Prices start at $12
Prices start at $11
Prices start at $12
However, like any young or established firm, Uber may be susceptible to financial difficulties or organizational problems. The current paper aims to examine Uber’s present and future business problems as well as the elements that define the company’s success or potential failure in various countries. In fact, analyzing the company’s financial prospects is an excellent opportunity to grasp different aspects of the worldwide market and devise the best possible solutions.
Current Business Issues
Uber is relatively new. It was founded in 2009 by Travis Kalanick and Garrett Camp, Americans (About Uber, 2015). However, the organization has overcome a number of conflicts, discussions, and assessments during the previous five years. The present business challenges are based on the knowledge accumulated throughout 2009 to now.
Uber, introduced as a personal taxi firm, has expanded its services from one city to another. In 2012, Uber went international and offered transportation services to Parisians. Nowadays, residents of 58 different countries may utilize Uber whenever they want. The services of Uber are now available in more than 300 cities across the world.
The firm is valued at approximately $50 billion (Higson, 2015). These signs might provide a lot of information about the company’s current situation and make some predictions about its future development. On the one hand, it is clear that consumers are happy with the opportunities to have more convenient as a result of the entrepreneurs’ ability to establish new departments in various areas of the globe.
On the other side, the information available on the internet demonstrates that Uber faces a slew of difficulties with existing and foreign taxi firms (Cheok, 2015). French and Russian officials acknowledged that Uber could not provide its services to customers unless they held necessary licenses. In Germany, Belgium, and Spain, Uber is facing a slew of legal issues (Cheok, 2015). The Taiwan government declared Uber’s services illegal. In reality, the company’s present business activities are not as excellent and satisfactory as they should be.
Uber has already succeeded in the taxi sector, as a vast logistics firm (McAlone, 2015). Despite several misunderstandings and the necessity to demonstrate its legality and correctness, Uber has persisted. Its current state appears to be promising. The founders of Uber acknowledge that throughout the previous six years, they have been correct in their efforts. They enjoy and make use of the benefits that Uber provides today.
Potential Future Business Issues
It’s not easy to anticipate what to expect from companies like Uber, which emerged in a few years and succeeded internationally. The assessment of its possible future business difficulties is unpredictable. Still, it is feasible to provide some ideas.
For example, Kalanick feels that Uber has a good chance of spreading its services in the same manner it can be more efficient to use Uber as a passenger than to own a vehicle (Shontell, 2015). In fact, the prospects painted by the company’s owners and talents imply that the business’s future may be bright. It is possible to offer taxi service to customers at low prices all over the world. Even if some consumers prefer not to travel with drivers, it does not present a difficulty for the firm. Kalanick considers the prospect of providing taxi services without drivers (Shontell, 2015).
It is anticipated that the popularity of Uber and similar services will spread throughout the country. It’s conceivable that the firm considers expanding its services into tiny communities. In today’s world, village residents may access the Internet. As a result, it should not be difficult for anybody to sign up and become an Uber passenger in relatively little time. The company faces difficulties owing to legal issues that can arise in the near future with regards to having more nations and towns join in.
It’s also feasible to derive a number of advantages thanks to the ability to provide a wide range of high-quality services. Uber may be used by passengers varying in income. Another potential problem is working with big multinationals. The issue of convenient and pleasant transportation arises in a variety of organizations. Businesspeople want to know that the services they purchase are both safe and reliable. As a result, Uber can offer taxi service as well as freight transportation around the world for individuals.
Factors for Uber’s Success in International Markets
The concepts of worldwide marketing aid in determining what talent should be developed, defining what knowledge is required to function effectively, and making judgments that may help a firm succeed. The elements that contribute to a company’s success in international markets can be determined on the basis of the company’s strengths and possibilities. In other words, part of Uber’s SWOT analysis needs to be completed.
Uber’s greatest asset is its renowned brand. Many people from various countries have heard of the firm’s services. They are looking forward to using them. Such recognition is key for future success. International marketing’s capacity to establish and enforce service standards is another significant advantage.
Furthermore, owing to its huge market share and status as the world’s most popular ride-hailing service, Uber has few rivals on a global scale. Sidecar, Lyft, or Haxi are three examples of companies that may compete with Uber. Its low-cost model is still a powerful weapon against which few defenses exist. The company’s strong investment ratings may be continued. People from all around the world are interested in investing in a firm that can generate profits within a short time frame. It is feasible to talk about the services’ development as soon as financial backing is confirmed.
There are lots of individuals who want to know that when they go to a hospital, bank, or shop, their transportation choices are valid. Uber has the potential to satisfy the demands and expectations of a variety of customers since to its worldwide popularity and trustworthiness. A specialized software helps locate necessary services in a short time and with minimal effort.
Challenges to Expand Business in Other Countries
The difficulties that are hazardous for Uber while operating in other countries may be discovered by using the document’s second half, where weaknesses and dangers can be specified. For example, some cities and counties have discovered that the firm has confronted a slew of legal problems. Some jurisdictions even consider the company to be unlawful. As a result, previous challenges might become future ones.
It is also possible to recognize that the firm has previously addressed many similar issues, and the company’s success is the most evident proof of its quality of services. In addition, the impact of rivals in the taxi business should be emphasized. It is not difficult to start a business with comparable offerings and pose a threat to Uber. However, factors such as a firm’s brand and reputation can aid in this endeavor.
Finally, the company’s business model isn’t as flawless as it should be. Uber drivers operate independently using the platform’s foundation. Only a few drivers can make a decent living. Even Uber’s obligations to its drivers’ ethical standards are unclear. The threat of driver dissatisfaction must be addressed by the firm and resolved in a timely manner by management at Uber. Managers at Uber shouldn’t put their reputation before everything else. They should pay more attention to the concerns and issues that affect the drivers on the inside . As soon as Uber addresses the internal problems, external difficulties that may be recognized while expanding a business in various countries can be addressed.
In general, the Uber example may be applied by a variety of developing firms. It is not difficult to establish a firm these days and offer some unique services. However, obtaining a positive reputation, demonstrating the quality of the services, and establishing appropriate working conditions are all tough tasks.
Uber is a company with a checkered past. Despite this, its creators had accomplished what seemed to be impossible: they had surmounted sabotage, labor strikes, and complaints from different nations all around the world. Nowadays, there is a dire need for businesses to deliver excellent services at reasonable costs. Not everyone has access to the high-quality goods they desire. Uber provides new vistas and opportunities.
However, merely cooperating with large cities will not make it one of the greatest. It is necessary to make further improvements and encourage changes in order to achieve this goal. Drivers are eager to work at many locations. Uber can provide drivers with employment opportunities as well as transportation services to customers. According on the current paper’s factors for success and challenges, Uber has a lot of chances to succeed in global marketing. The only thing Uber needs to do now is keep improving and thinking about its employees .
Uber Technologies Inc. is a multinational taxi technology firm incorporated in the United States, California, with operations in 633 cities across the world. It creates marketplaces and runs mobile apps for car transportation and food delivery. Uber drivers drive their own vehicles, although they may rent a vehicle through Uber throughout the world.
Lack of senior execs (Internal Problem)
Uber’s internal issues are compounded by a dearth of senior leadership. Kalanick is gone, leaving Uber with Dara Khosrowshahi. His closest aide Emil Michael, the SVP of business, departed just before Kalanick did. The company also lacks a Chief Operating Officer for an extended period of time. In certain views, it’s an opportunity toying with. It gives Dara Khosrowshahi the chance to bring in his own people and make hires that will take Uber in a new direction, but it must happen quickly. Uber isn’t the only ridesharing service on the market; Ola and other competitors are competing in part.
Waymo suit (External Problem)
Uber’s most pressing internal issue is a legal battle with Waymo, Google’s self-driving car spinoff. Before leaving Waymo for Uber, one of Wayne’s top engineers joined Uber and downloaded 9GB of Waymo technical data. However, following the engineer at the center of the case being dismissed by Uber, it has had to fire him and appears to be preparing for a long court fight.
According to a recent study, Uber CEO Kalanick himself was aware that Levandowski had downloaded Waymo data before he left the company, which would render its legal defense shaky. The new management at Uber will have to reconsider its current legal strategy for the lawsuit. While it’s difficult to picture Travis-era Uber accepting responsibility and losing to Waymo, the company’s new leadership may determine that paying a fine or taking a penalty is a fair price for a fresh start.
Profitability (Internal Problem)
The bigger concern about Uber in the next five years is that it has yet to turn a profit. The grim reality about Uber is that almost half of each trip you take is paid for by Uber, utilizing some of its huge reserves of cash from venture capitalists. It’s believed that Uber’s objective is to spend money now in order to expand rapidly and become big enough that no other firm could challenge it. If it can pull this off, it will have monopoly over ridesharing and, as a result, transportation across the world.
That is Uber’s ultimate objective and the narrative that underpins its astronomical $60 billion valuations. However, right now, the figures don’t add up for Uber. If it raises prices to the point where UberX can operate on its own, it will be vulnerable to competition from Left, taxis, and any new local ridesharing services that want to establish themselves. The goal further down the road is for Uber to reduce expenses by eliminating drivers entirely in the future.
Uber’s driverless car initiative is meant to take us toward a specific future where an Uber fleet of autonomous vehicles drives around cities constantly, providing cheap rides 24 hours a day, seven days a week without the need for Uber to share the fare with drivers. It’s possible that this scenario will come true, but it’s still some time away before Uber continues losing money by the bucketful. In the meanwhile, while trying different methods to generate more income off its platform, Uber has had limited success.UberEats and UberPool are two initiatives designed to “optimize” the driver pool in order to ensure that Uber drivers are never idle waiting for jobs.
Going broke (Internal Problem)
Time is Uber’s greatest adversary. There’s little debate that driverless cars are on the way, and that autonomous vehicles will provide significant growth for Uber in the future. The issue is that it takes a long time to survive long enough to witness it become a reality. In 2016, Uber lost around $2.8 billion excluding its failed China venture. The year before, the number was about $2 billion. Most projections put Uber’s cash pile at around $7 billion; therefore, they have roughly three years of burn left in their pocket. 5 (External problem)
The final issue is its connections with drivers. Uber has a terrible history with its drivers, who are legally considered “contractors” rather than employees. However, the limits imposed on its drivers, as well as fares that seem to be decreasing every day, have tempted Uber drivers to organize and fight back. In April, Uber spent $100 million in cash and property to settle a lawsuit filed by California and Massachusetts drivers who accepted compensation in return for agreeing to remain independent contractors. Similar class-action lawsuits will continue to pop up unless Uber takes measures to keep its workers pleased and yet keep drivers on the books as contractors.
Workplace culture (Internal Problem)
By the end of 2017, Uber was considered to have a “dumb culture” by employees. Employees are praised for bringing unfinished and unreliable solutions to market in order for Uber to appear as an innovator and winner, according to those who work there. In a business culture likened to A Game of Thrones, in which rivals for the throne battle for power, the company encourages aggression and “backstabbing” among coworkers, with peers undermining each other and their immediate superiors in order to improve their position within the organization.
In software, few human resources executives see Uber as a potential negative on the resumes of former Uber employees, with one sector executive remarking that “if you did well in that environment and upheld those values, I probably don’t want to work with you.” Some Silicon Valley computer engineers labeled Uber “toxic” and urged any pals who work for the firm to leave.
Drivers using the app while driving (External Problem)
In addition, the nature of how Uber notifies drivers about new pick-ups and how they must react to such requests came under fire. When one client places an order, drivers receive a notification on the official Uber mobile app and are given the customer’s location. To accept the request, the driver must tap his phone in approximately 15 seconds.
According to an Uber driver, a taxi driver may be temporarily banned for ignoring these demands. The National Transportation Safety Board’s Deborah Hersman criticized the 15-second system, saying that it distracts drivers and makes them financially motivated to respond to fares while driving. In response, Uber has said that the app “was created with safety in mind,” and that drivers are not obligated to look at the device in order to accept a fare.
Uber and Lyft are two of the most well-known ridesharing services in the United States. According to Forbes, Uber serves 75 million passengers each month, with the vast majority having a pleasant experience. However, Uber drivers have caused collisions before, and their clients’ damages can be severe. Incidents appear to be on the rise, and they may result in tragic consequences. In Long Island, New York prosecutors charged an Uber driver with manslaughter after his 15-year-old passenger died.
If you’ve been in an Uber or Lyft accident and have injuries, one of the first things you might be concerned about is whether you can sue to get your medical expenses paid for. Additionally, your property may have been damaged without your fault. The solution isn’t always so cut-and-dried. Bragoli & Associates will assist you in understanding this procedure, advocate on your behalf, and provide expert advise to help you select the best course of action.
We can help you regardless of the type of Uber or Lyft incident you have. We can help you by ensuring that you are treated fairly and receive the compensation you deserve, whether it’s an auto accident or a bus accident. The experienced legal team at Bragoli & Associates is available to assist with all five boroughs and Long Island.
How can an Uber/Lyft Accident Attorney in Long Island Assist You? A competent Uber/Lyft accident lawyer in Long Island may assist you by ensuring that you are fairly compensated and treated fairly. Uber and Lyft will provide modest settlements, wait for payouts, and pile paperwork on you. A free consultation with the Bragoli & Associates team can prevent those things from happening and help you get back to normal sooner.
What Kinds of Damages are Available? Medical expenditures, including extended hospitalization. Lost wages Compensatory damages Automobile damage Compensation for your pain and suffering Punitive damages You won’t know what sort of Uber accident lawsuit compensation you’re entitled to until you speak with an attorney at Bragoli & Associates. Proven Long Island Uber/Lyft Accident Attorneys It’s simple to get a free case consultation by calling 631-423-7755 or filling out the contact form on the right with details about the rideshare accident.
In any case, our experienced team will contact you (often within one hour) and assist you with your accident. Uber and Lyft are young firms, but the Bragoli & Associates staff is a group of highly qualified personal injury lawyers in New York with more than 100 years of combined legal expertise. There is no doubt that they are the ideal team for the job because they have over 100 years of combined legal experience.