A Business Model Innovation Model

Uber Technologies Inc. is a transportation company within a mobile application that has revolutionized the way that people travel in different countries and cities all around

In modern society’s day and age, we still have many types of transportations that helps us complete some of our daily needs. You can drive, grab a bus, take a train or even get a quick workout and walk. However, as society progressed and wages increased, people start spending money on other ways to get around instead of driving themselves such as Uber: an app that allows other people to drive you places for a small fee depending on its location. Uber may be cheaper than having your own car but it isn’t always very reliable or convenient. Having your own car provides a reliable source of transportation. Although insurance and maintenance can be pricey; Uber is a relatively cheap and easy system of transportation, although it can be unreliable.

Business models have a huge impact on how an organizations operate. It is crucial that an organization chose a business model before inception in order to succeed. Basically, business models have become the new basis of competition, replacing product features and benefits as the playing field on which companies emerge as dominant or laggards (Plantes, 2013).

What is business? Business is an organization or economic system where goods and services are exchanged for one or another or for money. Every business required some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Business can be privately owned, not-for-profit or state owned.

Business model defines the process by which the business enterprise or an organization creates, delivers and captures the value, which excites the customer to pay for the value provided and converts those payments into profits. In simple terms business model is a simpler representation of a business logic which represents what an enterprise offers to customers, how it reaches them, through which activities, resources and partners it achieves the value and how it earns money.

By definition a business model is the way in which a company generates revenue and makes a profit from company operations.For this to happen a business needs to create a plan to attract the publc. Two ways to attract the public are to have higher qualities products than the competitors and to create a vision that empowers the public to come back for their services.

Uber is a new way of being able to acquire money more easily; In addition, it represents a great advance for society as it helps to increase security in cities, optimizes the mobilization of means of transport and allows improving the economy, since it provides people with an easy way to work. This application allows you to unite different individuals around the world that require some means to transport themselves efficiently and

Uber is a technology platform company founded in 2009, and it provides a network of transportation service on demand. It connects its driver-partners with passengers who need and request a ride via its smartphone app. Uber is providing its service in more than 80 countries and 540 cities worldwide. Transportation services, such as taxi and limousine, have been greatly affected since Uber entered the market. As Uber’s role is being a market creator between the drivers and passengers, the company receives revenue for every trip a driver provides with the driver keeping the rest. This part incentivizes drivers to become Uber’s driver-partners since they can earn extra income. Customers switch from taxi services to Uber because

What is Uber? Uber is a convenient, inexpensive and safe taxi service. Uber provides exceptional pay, allows you to be your own boss, and even receive tips. Take on fares whenever you wish (work as much or as little as you desire) while meeting new people in your city from all walks of life. Driving for Uber lets you be your own boss, set your own hours, and earn a nominal wage - all in the comfort of your own vehicle (Zach F. - http://uberestimate.com/about-uber/). We are going to talk about the strengths, weakness, opportunities, and threats of Uber.

The business model of Uber is to offer a convenient, cost-efficient, and safe customer value proposition. First, riders can use the app through their mobile devices and easily ask for a driver to pick them up at their exact locations. Second, apart from the value of convenience, Uber offers safety since riders could also track the car’s location while en route, which was pre-chosen at the time the ride was requested. Third, Uber enhances the cost-efficiency of transportation through providing price transparency and better options as prior to officially requesting a cab, Uber riders could estimate the cost of the ride and reject it if it was too high. Moreover, riders can also choose to split the

Business model design and innovation is a multi-faceted topic that goes beyond the products or services a company sells. It requires the firm to analyze the desires of the customers, required and available resources, and to subsequently develop a business model in line with these findings. The ultimate objective of this exercise to create growth and obtain greater profitability. Business model innovation is derived from one of the four strategic objectives outline the textbook by Osterwalder and Piqneur. These four objectives include identifying and solving a need which the market has not resolved, offering a new product or service that customers did not have access to before, to improve options available to the existing

The subscription business model is a business model where a customer must pay a subscription price to have access to the product/service. The model was pioneered by magazines and newspapers, but is now used by many businesses and websites.

However, this paper chooses this definition as theoretical perspective of analysis for this paper subject to the following modifications: A business model is overall framework and philosophy by which a company (intends or) creates value in the market place through enhancement of its own combination of raw or in-put materials to create products (tangible and intangible including services), product packaging and systematic distribution in order to generate some or the best possible profit.

A business model is defined as a process of an organisation to create, deliver and capture value. In any context, a business model is interrelated to a business strategy [8].

A business also called a company, enterprise or firm is a legally recognized organization, designed to provide goods and services to consumers. According to the purpose of the business, ownership of the business and nature of economic contribution of the business; the business can fall into one of the three standard sectors. There are; private sector, public sector and nonprofit sector.