Identify an Opportunity for Additional Growth SWOT Analysis

Description

Project Method: Identify an opportunity for additional growth. We will seizing on a potential opportunity in the marketplace for the company

My Idea overview: For get more market share, Lyft should Merge Jnuo by Gett to against Uber. (Check the Project Proposal)

The assignment is to write a S.W.O.T. Analysis. I write a draft for it please add more detail to the first draft of SWOT analysis.

Some bullet only has one sentence, add one or two more sentences. Review some online SWOT analysis sample, and research more information.

SWOT Analysis
Strengths:
● Has a friendlier, laid back, and community-based brand. Lyft’s mission statement is
to reconnect people through transportation and bring communities together. Unlike Uber,
which positions itself as a black car service, Lyft paved the road for a peer-to-peer ridehailing experience. Lyft wants to improve people’s lives through the worlds best
transportation. (Intext citiation)
● Faster growing rate: Lyft is reportedly growing nearly three times as fast as Uber in
2018.
● Diversification: Lyft became America’s largest bike-share service. When bike-share
service challenge rideshare industry, Lyft completed the acquisition of America’s largest
bike-share service. Motivate. Headquartered in New York City, the company is
responsible for the growth of the country’s most ridden bike-share systems, including:
Citi Bike (New York), Ford GoBike (San Francisco Bay area), Divvy (Chicago),
Bluebikes (Boston Metro area), Capital Bike-share (Washington, D.C. metro area),
Biketown (Portiand), CoGo (Columbus, Ohio), and Nice Ride (Minneapolis). Last year,
80% of all bikeshare redes in the US were completed on Motivate system, and Mayor Bill
de Blasio announced that New York City and Lyft will be dramatically expanding Citi
Bike, tripling its size to 40,000 bikes. (2018)
● Lyft offers more incentives for drivers. (Earn more) Driver report earning slightly more
with Lyft. Also, Lyft drivers say they are more satisfied and happier.
● Each car is inspected and driver’s background thoroughly checked before being allowed
to become a Lyft driver ensuring safety
● As soon as a ride requested, an image of the driver, his location, and estimated arrival
time is shown
● Each driver is also the owner of the vehicle. This side steps any business growth
inhibitors
● Relatively cheaper, especially in times of high demand than its competitors.
● The large and attractive branding. The symbol of a pink mustache on each car make the
cabs recognizable.
● Each vehicle provides chargers for electronic devices, and the client can choose his music
during the ride.
● Lyft does not have to provide drivers with health insurance, social security because they
are contractors and not traditional employees. It reduces the company’s costs. (in-text
citation)
● The company has a rating and reviewing system for both customers and drivers. It allows
the clients to see the rate of a driver before going for a ride.
● Three options are available for customers: Lyft, Lyft Line and Lyft Plus. It allows Lyft to
adjust to all the needs of different customers.
Weaknesses:
● Inferior valuation compared to Uber. (Uber: $72 billion valuation; Lyft: $15 billion
valuation)
● Less market share. Studies estimate Uber controls 60 percent of the market. However,
Lyft only claims to control 35 percent of the ride-hailing space.
● Tight market (not an international company): Uber is exponentially large and has
international recognition, with a presence in more than 60 countries, while Lyft only
operates in the US and Canada.
● Lyft does not profitable yet. Lyft still is losing money and its executives warned it may
struggle to turn a profit, according to the filing. The company lost $911.33 million last
year, about $ 223 million more than in 2017.
● No ownership of the medical fleet
● Lyft will have more customers to deal with (???)
● Their interface will have to be adapted to fit all the regions they will expand too
● Ride fare depends on the time of the day, availability of drivers and other factors leading
to surge pricing
● Lyft only gets 20% of the ride fare which is significantly limited profit
● The ride can be booked only via smartphones. It reduces the number of potential
customers because not everyone possesses a smartphone.
● Lyft operates only in North America and is not international.
● Reliability issues, because the drivers are freelancers and cannot be checked enough.
Opportunities:
● Horizontal Integration. Lyft can expand international market (european market) by
merging Gett, a global rideshare company, which currently operates in more than 120
cities across the United States, the United Kingdom, Russia and Israel.
● Better mobile platform after merging Gett. Unlike Uber and Lyft, Gett uses its
technology to link passengers with traditional operators such New York yellow taxi firms
or the black cabs of London.
● Gett has brand recognition in the U.S.. After acquiring Juno, New York’s third-largest
ride-hailing app by market share, Gett US operas under the Juno brand. Also, more than
50 percent of New York City taxi drivers have signed up with Juno, some 45,000 out of
80,000 drivers.
● Increase Revenue
● Can offer transportation facilities to airport or train stations for students going home at an
even cheaper rate (Target students)
● Offer customer loyalty discount after so many rides.
● The company can expand to other US cities.
● The company can expand to big countries in Asia and Europe and gain more markets
globally.
Threats:
● Uber also looking for an opportunity to go public (IPO). Uber has a $72 billion
valuation, which it’s rumored will jump to $120 when it does go public.
● Uber partnership with MedStar Health.
● Might face to challenges of government regulation when it goes international. Example:
Uber’s failure in China.
● International rules and regulations
● International relations between certain countries(USA, Russia, and Israel)
● Cities are making regulations to bring such ride services under the greater control of the
law and to protect taxis and public transportation systems
● Any new concept and innovation can be easily copied by rivals.
● Drivers can switch to Uber or other services if they provide better conditions.
Reference:
https://www.vox.com/the-goods/2018/12/12/18138059/uber-lyft-ipo-ride-sharing-gig-economy
(Uber and Lyft are racing each other to go public. Here’s why.)
https://www.cnbc.com/2019/03/18/taxi-hailing-firm-gett-will-reportedly-file-for-ipo-this-year.html
(Taxi-hailing firm Gett will reportedly file for IPO this year)
https://www.ttnews.com/articles/lyft-reveals-big-growth-no-profits-it-readies-ipo
(Lyft Reveals Big Growth but No Profits as It Readies for IPO)
https://blog.lyft.com/posts/lyft-becomes-americas-largest-bikeshare-service
(Lyft Becomes America’s Largest Bike-share Service)
Organization: Lyft and Gett
Method to gain access to the Organization
Information about the company can be obtained through research from secondary sources
particularly the website. The website provides information about its ridesharing services and
company relations between drivers and riders. It would also be useful to find financial
information and publications that discuss its market share relative to the other market players.
Problem or Opportunity
Problem: Lyft is the second largest ride-sharing company in the U.S. Compared with its rival
Uber, the leader of the rideshare industry, which possesses 69% market share, Lyft only
possesses 29% of the market share. Therefore, Uber has a competitive advantage. While Lyft
only operates in approximately 300 U.S. cities, Uber is currently controlling the market in over
1000 cities. Additionally, Lyft only currently operates in North America while Uber operates
globally. As Uber tries to expand their grasp and reach every city on Earth, it only makes sense
for Lyft to follow their lead.
Opportunity:
Primarily goal to Expand globally and put its market to big countries in Europe and Asia.
Locally start to gain more market share meanwhile competing with its strong rival Uber.
The future strategic plan is acquiring Gett which is an app based in Israel.
Fact sheet

The New $15.1 billion valuation would make Lyft worth a quarter of rival Uber.

Gett is now worth $1.4 billion.

In 2018, Gett acquires Juno for $200 million to challenge Uber.

Gett CEO: We’re exploring option of 2019 IPO (March 6, 2019)
C H E C K L I S T:
48 Questions to Ask in Your SWOT Analysis
Every business owner should conduct a regular SWOT analysis to assess the company’s
strengths, weaknesses, opportunities and threats in relation to its competition. Use the
following checklist to start on your SWOT analysis.
STRENGTHS (INTERNAL, POSITIVE ATTRIBUTES OF YOUR BUSINESS)
MARKETING:
OOWhat is my company’s competitive advantage?
OOWhat is our unique selling proposition?
we have exclusive relationships with
OODo
suppliers or distributors?
OOHow extensive is our distribution network?
are the strengths of our marketing and
OOWhat
sales team?
OODo we have a well-known brand?
HUMAN RESOURCES:
our employees have skills or expertise
OODo
that our competitors’ employees lack?
our employees have professional
OODo
accreditations or certifications that give us
an advantage?
ASSETS:
we have proprietary technology,
OODo
intellectual property or other valuable
proprietary information?
we have equipment or machinery that our
OODo
competitors don’t?
our location or building give us a
OODoes
competitive advantage?
FINANCIAL RESOURCES:
OOHow well capitalized is the business?
we easily access additional capital if
OOCan
needed?
the business’s profit margins and other
OODo
financial indicators compare favorably to
industry benchmarks?
WEAKNESSES (INTERNAL, NEGATIVE ATTRIBUTES OF YOUR BUSINESS)
MARKETING:
complaints do we frequently hear
OOWhat
from customers?
objections do we frequently hear
OOWhat
from prospects?
OOIs the business’s distribution limited?
ASSETS:
the business’s location or physical
OODoes
plant have any weaknesses?
the business’s technology, equipment
OOAre
and machinery outdated?
HUMAN RESOURCES:
OOIs the business adequately staffed?
employees lack skills or expertise needed
OODo
to compete?
FINANCIAL RESOURCES:
the business suffer from cash flow
OODoes
problems?
the business’s profit margins and other
OOAre
financial indicators poor compared to those
of competitors?
OODoes the business have excessive debt?
the business have difficulty accessing
OOWould
additional capital?
OPPORTUNITIES (EXTERNAL, POSITIVE FACTORS THAT COULD HELP THE BUSINESS)
COMPETITIVE ENVIRONMENT:
competitors have any weaknesses the
OODo
business could benefit from?
MARKET ENVIRONMENT:
the target market changing in ways that
OOIscould
benefit the business?
there a potential niche market the
OOIsbusiness
is currently ignoring?
something clients and customers
OOIsarethere
asking for that the business doesn’t
provide, but could add?
there upcoming local, regional
OOAre
or national events that could present
opportunities for the business?
opportunities for geographic
OOWhat
expansion exist?
ECONOMIC ENVIRONMENT:
might current and projected
OOHow
economic trends present opportunities
for the business? (i.e., housing prices,
employment rates, consumer confidence)
changes are taking place in the
OOWhat
industry that could create opportunity?
there potential new sources of
OOAre
financing that could help the business?
projected changes in interest rates,
OOCould
tax laws or banking regulations benefit the
business?
POLITICAL ENVIRONMENT:
might proposed changes to local,
OOHow
state and national government positively
affect the business?
TECHNOLOGICAL ENVIRONMENT:
could predicted technological
OOHow
advances create opportunity for
the business?
THREATS (EXTERNAL, NEGATIVE FACTORS THAT COULD HURT THE BUSINESS)
COMPETITIVE ENVIRONMENT:
our competitors planning expansion,
OOAre
new product or service launches, or other
changes that could hurt our business?
there businesses that aren’t
OOAre
currently direct competitors, but could
be in the future?
MARKET ENVIRONMENT:
OO
predicted social changes negatively
OOCould
impact demand for our product?
the business rely too heavily on one
OODoes
big customer?
Is our target market shrinking?
ECONOMIC ENVIRONMENT:
might current and projected economic
OOHow
trends (i.e., housing prices, employment
rates, consumer confidence) negatively
impact the business?
predicted industry trends could hurt
OOWhat
the business?
changes to external financial
OOCould
factors, such as revised lending
standards, increased cost of capital or
higher interest rates, hurt the business?
there projected increases to
OOAre
the cost of doing business (i.e., rent,
wages, inventory, utilities) that could
hurt the business?
POLITICAL ENVIRONMENT:
local, state and national
OOCould
governmental changes, such as regulatory
restrictions or new trade agreements,
negatively affect the business?
TECHNOLOGICAL ENVIRONMENT:
might predicted technological
OOHow
advances negatively affect the business?

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