Question

Detail Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis on New York Yellow Cab (Taxi) 300 words or more no copy and paste and use citation if positble thanks for your help and expertise.

Answer 1

SWOT ANALYSIS:

Name: Yellow Cabs - New york city

Industry: Ridesharing

Major competitors: Lyft, Ola Cabs, Uber

Strengths:

• Yellow cabs have always focussed on providing the best and cheapest fare options to the customers even though the meter rate depends on traffic, weather conditions, and route to the destination. It also provides a 100% refund policy by completing a simple form if the customer is not satisfied with reasonable factors.
• Yellow cabs allow the customer to rate the drivers and feedbacks is taken seriously. This system allows them to monitor the performance and to improve the efficiency of the system by the four-character medallion number given to each cab.

Weakness:

• Yellow cabs are not much effective in mobile applications because of which customers who are more dependent on technology prefer other options like Uber, Lyft, etc.,
• There are many complaints that the payment system that used the cards is not working properly because of which they have to depend on cash payments. At times, receipts for the payments are also not regulated properly.

Opportunities:

• As the present generation is entirely dependent on digital technologies, Yellow cabs have to extend its service through unique and user-friendly applications.  
• Yellow cabs can invest in driverless technologies which is the next big thing in the taxi industry
• Yellow cabs can diversify in the other logistics options similar to Uber and Ola in order to compete with the other market leaders and to sustain in the market.

Threats:

• Tough competition exists in the taxi industry and hence every industry has to innovate in getting differentiated from the other competitors.
• People’s dependency on the taxi has also reduced because of the higher availability of public transport options. Increased financial payment options like EMI, loans, etc., and the availability of cheaper cars also attract people to buy their own car instead of depending on the taxis.