Good Example Of Essay On Memorandum - Identifying Market Trends And Analyzing Their Impact On Uber

Business

McKinsey will help you in developing strategic insights by facilitating strategic foresights. As such, McKinsey will enable you to choose the most appropriate trend of influence because of its excellent research center that monitors continually and assesses all global forces that you as well as other senior executives have to consider to remain in operational business and stay ahead of long-term trends reshaping the business environment. McKinsey will enable you to have the required app or service because it bases on a deep market-level research and in-depth macroeconomic insights to offer the most current information on the forces and trends in specific details. McKinsey will provide Uber with the capacity to understand and exploit various global and local trends. McKinsey will also provide you with constant updates on the perspectives of large disruptions that shape the global economy and business entities. With our methodologies for identifying, quantifying and prioritizing the impacts of various trends, McKinsey will enable Uber understand the impacts of these trends on operations and tangible business decisions. The following are some of the identified trends that will be proficient in your operations.

The Trends

Taxi Magic
The type of this trend is both an app and a service. This taxi alternative app is an emerging trend, and it works in various ways. First, the app can enable the users to order for cabs of their preference at their preferred time. Using the app will save your destinations much as the GPS does and provides fare estimations basing on the route that one is using. The Taxi Magic can dispatch your request to other existing cab networks. As such, the app can send a text message to the name of the driver and the distance the cab assigned to the user is. For this reason, one can plan well before boarding or ordering a cab (Mao 21). With the app, the users can engage in other significant activities before the actual boarding of a cab.
The app has a live route-tracking system that allows the users to extract maps on their phones and monitor the movement of the cabs as they come to pick them up. The app also has driver messaging system that allows the clients to be virtual backseat drivers by providing them with the capacity to send their drivers special instructions, even before they pick them up. The feature of the Taxi Flag turns the phones of the users or clients into a bright yellow beacon that flashes the number of the assigned cab. As such, there are no chances of the assigned driver getting lost or picking up the wrong client ("Guide To L.A.'s 6 Best Alternative Taxi Services & Apps"). Finally, with the app, the clients as well as the drivers can manage their credit cards with the app and score e-receipts for their rides.
With this app, the clients can pay regular cab fares. The app has various that make it important for use. These features are the developments that I deem most significant in addition to the others. They are as follows:

Booking online, via text messages or the app.

Estimates of the fares that allow the clients to put in their drop-off locations and gave ideas of the costs of the rides.

The clients can directly message the drivers with special instructions of pick up.

The app helps the taxis of the clients to find them in large crowds with the Taxi Flag that beacon-flashing icon that the clients can bring up in the assigned cab numbers.
Uber should strive to use this app because of the above advantages. This app will enable the smooth running of operations and will allow for efficiency. Unlike other apps, this specific app will enable the users to monitor and evaluate the driver of choice at your convenience. In addition, this app allows for direct exchange of information on the drivers with specific instructions. As such, unlike other apps, the users do not have to rely on information from the linked social networks such as Facebook to identify the preferences of their drivers (Transit 2014 19). Direct exchange of information with the drivers also makes it easy to alter the instructions, which saves times and reduces misunderstandings, especially concerning the pick-up locations and destinations. It also gives the drivers and the clients to evaluate the probable attitudes and develop rapport between themselves, which builds effective relationships. Therefore, Uber should use Taxi Magic in its future services.

Rideshare

Side Car
This trend encompasses apps such as the Side Car, which is a ride-matching application that connects individuals seeking for rides with vetted drivers that are nearby and available to provide rides. This app gives the clients an opportunity to conduct interviews to choose drivers of their choice so that they can feel comfortable and safe during the rides (Yang and Wong 17). Clients can choose their points of pick-up and drop-off. They can also choose the drivers with the corresponding rating and pictures. Additionally, clients can request specific drivers with suggested locations, block drivers or choose closest drivers before confirming their ride. Once they confirm their rides, the closest drivers or their drivers of choice are notified to swoop them. The app enables the users to track their drivers using a similar map on which they found them until they arrive at their pick-up locations. Payments for this app are donation-based, through the credit cards. Side Car constantly lists the updated suggested locations based on the donations of others. The elemental feature of this app is that since it is a rideshare, the clients may want to become drivers. Most drivers keep 80 percent of the earnings from starting and know the location of the passengers before accepting them (Yang and Wong 29).
Having this app is important because it enables one to estimate the time that the drivers will take to arrive at the pick-up destinations by using the tracking system enabled by the application. As such, the clients can finish up on other significant activities before meeting with their drivers. For this reason, the app is elemental to have because it enables the clients to plan early for the rides, which reduces rushing and forgetfulness.

Lyft

Lyft is another rideshare app that can be elemental as a taxi alternative app. Like Side Car, individuals can sign up to be Lyft drivers, except that with this app, both the drivers and the passengers receive given ratings. This aspect coupled with the capacity to sign in via certain social networks such as Facebook, this application is going for a more communal feel (Yang and Wong 33). The app has a streamlined interface, which involves setting up a pickup point and pressing the ‘Request Lyft’ button, as well as the closest driver. After that, the users have the capacity to request different drivers. Lyft drivers have instructions to fist the bump riders upon exchanging greetings and to treat them well. The prices for this app are credit-card-via-app and donation based. Suggested donations often run approximately 20% lower than the normal cab fares (Yang, Wong, and Wong 15). Its significant feature is that it regulates the drivers to certain times and areas, which ensures that drivers will always be available whenever and wherever the clients may need rides.
Having the opportunity to provide ratings for both the clients and the drivers is important for both parties. It allows them to build effective relationships, which is important because it enables both the drivers and the clients to feel comfortable and safe during the rides. Traveling or riding in a comfortable and safe environment promotes efficiency and calmness between the drivers and the clients.

Zimride

With this app, the drivers can rent out seats in their cars like plane flights. This app is efficient and good for longer trips. Users can log into the websites and type in start locations along with the names of the drivers, the price for the seats, and the time of departure of their rides. There is also a component of social networking that allows Zimride to use data from Facebook to inform the users the likes of the drivers and their musical tastes. Once the clients book the seats, and the drivers approve them, they will exchange contact information so that they can plan to meet. Payment is made through PayPal, and the drivers are paid a single day after the rides are complete or upon return of round-trip rides.
This app has significant features that make it a better alternative app. First, it originally focused on tech companies and colleges. As such, if one is part of these networks, they will probably find good amounts of rides and activities. Another feature is that its structure allows for good alternatives to various destinations. In addition, if the drivers are headed somewhere, it is easy to make extra money by listing themselves as available to provide rides for others to the general vicinity of their destination (Yang, Wong, and Wong 25). The feature that makes this app more effective among its competitors is its efficiency in longer trips. Because other apps are limited to only the shorter distances, this app is convenient for the shorter distances as well as efficient for longer distances. For this reason, it is flexible because of its usefulness for all distances. The capacity of the clients to have information concerning their drivers from the social networks is important because it allows for choosing of the preferred driver as saves on time.

Conclusion

Of all the taxi trends, Uber should use Rideshare. Rideshare is a trend that encompasses various apps including Side Car, Lyft and Zimride. The significance of this app is that it allows the clients as well as the drivers to share rides at given times. That is, with this trend the drivers can announce their availability on given routes. On the other hand, the clients on the announced routes can request for a ride. As such, it saves on costs and time, especially for the drivers (Transit 2014 27). Additionally, with the use of apps in this trend, the drivers can maximize their earnings. For this reason, as a client, Uber should take advantage of this trend and implement the apps in this trend in your operations. These apps are efficient and effective about the sharing of rides between clients and drivers. Moreover, since this trend is likely to have more influence in future, Uber should strive to offer Rideshare services.
The Impact of Taxi Alternative Apps on Taxi Industry

Works Cited

"A Guide To L.A.'s 6 Best Alternative Taxi Services & Apps." Guest of a Guest. N.p., n.d. Web. 4 Feb. 2015.
Mao, Baohua. Traffic and Transportation Studies 2010. Reston: American Society of Civil Engineers, 2010. Print.
Transit 2014. N.p., 2014. Print.
Yang, Hai, and S. C. Wong. "A Network Model of Urban Taxi Services." Transportation Research Part B-methodological (2008): n. pag. Print.
Yang, Hai, S. C. Wong, and K. I. Wong. "Demand–supply Equilibrium of Taxi Services in a Network Under Competition and Regulation." Transportation Research Part B-methodological (2002): n. pag. Print.