MBA 515- Milestone Four.docx - 1 RIDESHARING OF THE FUTURE Alex Carpenter Ridesharing of the Future and the Opportunity for Technological Improvements

MBA 515- Milestone Four.docx - 1 RIDESHARING OF THE FUTURE...

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1 RIDESHARING OF THE FUTURE Alex Carpenter Ridesharing of the Future and the Opportunity for Technological Improvements MBA 515 Professor Constance Leyland Southern New Hampshire University
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2 RIDESHARING OF THE FUTURE Ridesharing of the Future and the Opportunity for Technological Improvements Entrepreneurship is the “creation of professional jobs” and taking on financial opportunities in hopes of gaining a profit (Nandan, 2009). Although these opportunities may be risky, it is hopeful that the benefits outweigh these risks. One example of an entrepreneurial endeavor is the Sony PlayStation, which was created by a man who was disappointed with the sound system of his daughters Nintendo (Haughton, 2015). The ridesharing industry is a rather new sector, as it was only created in 2009. The Uber service itself was created through entrepreneurship as two men, Travis Kalanick and Garrett Camp, found themselves stranded in Paris, France without a ride (Uber, 2009). Thus, the idea was born for an on-demand car service. Uber has since decided to take on these market opportunities in order to grow their brand around the world. Through entrepreneurship, Uber can further expand upon their success into other areas of production. Examples include the adoption of eco-friendly vehicles, self-driving (autonomous) vehicles, and improved and expanded smartphone technology. Entrepreneurial Opportunities Uber has many viable entrepreneurial opportunities in which they can expand upon their already successful company. The three entrepreneurial opportunities listed below can also be found in the Uber PEST analysis, shown in Appendix A under the technology section. This is because Uber is a technologically based platform, and also because in today’s day and age, technology is advancing at a rapid pace. Eco-Friendly Vehicles Eco-friendly vehicles have become more popular over the years, due mainly in part to the detrimental effects that gas-powered vehicles have on the environment. Many car manufacturing
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3 RIDESHARING OF THE FUTURE companies have begun to produce electric-powered and gas and electric-powered vehicles in hopes of lessening the harmful emissions from these gas-powered vehicles (Gorzelany, 2019). This is an entrepreneurial opportunity for Uber because in the near future, eco-friendly cars may be mandated by the government in order to try and stop the rapid rate at which climate change is affecting the environment. It has been said that “non-gas car models are likely to nearly triple by 2025,” therefore making it more likely that climate change will play a crucial role in helping Uber to fulfill this entrepreneurial opportunity (Domonoske, 2019). For Uber, the adoption of eco-friendly vehicles will undoubtedly take time, as Uber has approximately 3.9 million drivers worldwide (Iqbal, 2019). However, once this entrepreneurial opportunity is taken advantage of, Uber will become the first ridesharing organization to adopt an all eco-friendly fleet of vehicles. This entrepreneurial opportunity is a viable option for Uber because as the
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  • Fall '15
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