Topic: Project and Operational Management
Question - Developed a new business idea called Uber Jr and Uber Sr. There are 3 sections which include:
- Life Cycle - Clearly describes life cycle of business idea, focusing on future growth and decline.
- Profit Generation - Comprehensively assesses profit generation and cost-saving opportunities associated with business idea based on life cycle and supported with rationale.
- Phase-Out Plan - Determines appropriate phase-out plan for business idea that ensures sustainable solution for future innovation and profit streams.
My business idea is in conjunction with and an extension of Uber's ridesharing services which will be named: Uber Jr and Uber Sr. These are ridesharing services specifically designed for young chidren/preteens and senior citizens. Uber was founded by Travis Kalanick (CEO) and Ryan Graves in 2009, "Uber Technologies, Inc., is a private company based in San Francisco, California, that provides online taxi and limousine booking services."(International Directory of Company Histories, 2016). "Uber now operates in 342 cities spread across more than 60 countries. It's the poster child for the so-called sharing economy, employing some 327,000 freelance drivers in the U.S. and hundreds of thousands more around the world." It has been valued at over $51 billion dollars, (Jones/O'Keefe, 2015). Moreover, the sharing economy concept enables individuals share goods, services and ideas to collaborate and share ideas, goods and services via the information technology and internet platform.
Uber understands the pain points that plague society's fast paced sandwich generation. As many Americans are working in high demand, competitive careers, they are simultaneously juggling the roles and responsibilities of rearing children, as well as taking care of their aging parents and grandparents. According to the Bureau of Labor Statistics, the life expectancy of adults have increased from 47-76 years, from the time period 1900-2000, thus creating an overwhelming demand for caregivers. (BLS, 2016). Currently, the Jr. and Sr. demographic is an untapped and historically neglected market, compared to millenials.
Millenials have changed the landscape of purchasing habits much more so than their predecessors, the Generation Xers and baby boomers. They forego purchasing vehicles in favor of ridesharing, bicycling and the like, in this current shared economy environment. As an extension of Uber X and other vehicles, Uber Jr and Uber Sr will provide ridesharing services to specifically children and senior citizens. Uber Jr will provide transportation services for children ages 6-14, who require transportation to and from school, practices, events, etc. for parents who are unable to themselves. The Uber Jr and Sr vehicles will be equipped fully functional security cameras and "panic buttons", in case of emergency. The app will also provide a real time emergency button as well. Each consumer who elects to use Uber Jr or Uber Sr will be equipped with a band to be worn around their wrist with RFID technology, so those individuals who do not own a smartphone or who cannot move quickly, can do so seamlessly. Uber Sr will provide transportation services to those senior citizens, ages 60 and above, who require services to and from grocery stores, doctor and other health appointments, events, etc. Uber Jr and Sr drivers, under enhanced security, will initially undergo a strict, enhanced criminal background check, fingerprinting and driving course. This will take place in the BETA testing phase.
Attachment:- Assignment Files.rar