When they first started to conduct business, international ride-sharing companies such as Uber or Lyft relied...

When they first started to conduct business, international ride-sharing companies such as Uber or Lyft relied on new, unfamiliar concepts to develop breakthrough decisions. Drivers use their own cars to transport customers who call or text for a reservation using a credit or debit card. According to the innovation matrix, ride sharing is considered a(n) _______.

Group of answer choices

transformational innovation

adjacent innovation

core innovation

product development strategy

Expert Solution

Transformational innovation

( Developing breakthroughs and inventing things for market comes under the category of transformational innovation. Use of credit cards and debit cards for reservation is a unique strategy by Companies like uber. Markets in many countries were completely unfamiliar to such innovations. It gave companies like uber a competitive advantage in those markets.)

Rahul Sunny answered 2 years ago

In 2019 two ride-sharing companies - Lyft and Uber - went public.Whats are the risks that...

In 2019 two ride-sharing companies - Lyft and Uber - went public.Whats are the risks that these companies are facing? Are these risks similar or different for both companies?

In 2019 two ride-sharing companies - Lyft and Uber - went public. Whats are the risks...

In 2019 two ride-sharing companies - Lyft and Uber - went public. Whats are the risks that these companies are facing? Are these risks similar or different for both companies?

The growth of ride-sharing services such as Uber and Lyft has generated much discussion in the...

The growth of ride-sharing services such as Uber and Lyft has generated much discussion in the news. Drivers operate as independent businesses, working as many hours as they choose and earning a portion of the fares set by the company. However, during periods of high demand, the market price increases (such as “surge” pricing by Uber). Which of the following is not a reason why ride-sharing companies share the characteristics of a perfectly competitive industry? a. There are no barriers...

Lyft is a San Francisco-based ride-sharing business. Through its "Lyft Platform" mobile application, Lyft allows someone...

Lyft is a San Francisco-based ride-sharing business. Through its "Lyft Platform" mobile application, Lyft allows someone looking for auto transportation to request a ride. All people registered with the app as "drivers" who are nearby the requesting party's location at the time are notified through the app of the request. The first driver to accept the request is matched with the requesting party and proceeds to pick up the requesting party and drive him/her to the requested destination. People who...

In some cities, Uber has a monopoly on ride-sharing services. In one of these cities, the...

In some cities, Uber has a monopoly on ride-sharing services. In one of these cities, the demand curve on weekdays is given by P = 50 - Q. However, during weekend nights, or surge hours, the demand for rides increases dramatically and the new demand curve is P = 100 - Q. Assume that the marginal cost and the total fixed cost are both zero. 1. Determine the profit maximizing price during weekdays and during surge hours. 2. Determine the...

Suppose car-ride services (Uber, Lyft, etc.) are untaxed. The NYC government then decides to impose a...

Suppose car-ride services (Uber, Lyft, etc.) are untaxed. The NYC government then decides to impose a new tax of $2 per ride on suppliers of these services (drivers). The market is competitive, with downward-sloping demand and upward-sloping supply curves. Answer true, false, or uncertain and explain in 1 sentence each. (Diagrams are not required, but may be useful.) i. This tax will raise the price consumers pay for car rides. ii. This tax will reduce consumer surplus in the market for...

Have you ever engaged in a “sharing economy” transaction (e.g., used Airbnb, Uber or Lyft)? If...

Have you ever engaged in a “sharing economy” transaction (e.g., used Airbnb, Uber or Lyft)? If “yes,” what factors influenced your decision to do so? If “no,” what factors are influencing your decision to NOT do so? The concept of a “sharing economy” (as we now know it) is a relatively new one. Describe some of the social, demographic, and technological trends and changes that have contributed to creation of this sharing economy. [NOTE: You may need to do some...

List three specific things that would cause the demand for ride-share services (i.e., Uber or Lyft)...

List three specific things that would cause the demand for ride-share services (i.e., Uber or Lyft) to shift. Use three different categories (all 5 listed below) of demand-shifters in your answer. Changes in Income Normal good – a good for which a positive relationship exists between changes in consumer income and changes in demand Inferior good – a good for which an inverse relationship exists between changes in consumer income and changes in demand Prices of related goods Substitutes –...

Could you please summarize this article An Uber sticker above one for its ride-hailing rival Lyft....

Could you please summarize this article An Uber sticker above one for its ride-hailing rival Lyft. Even if a ruling like California’s eventually forces such companies to change their business model, that moment could be far off.CreditRichard Vogel/Associated Press By Noam Scheiber In a ruling with potentially sweeping consequences for the so-called gig economy, the California Supreme Court on Monday made it much more difficult for companies to classify workers as independent contractors rather than employees. The decision could eventually...

What are the “weapons of competition” that rival companies in ride-sharing industry can use to gain...

What are the “weapons of competition” that rival companies in ride-sharing industry can use to gain sales and market share? See Table 3.2 to help you identify the various competitive factors. (the company is UBER) Types of Competitive Weapons Primary Effects Discounting prices, holding clearance sales Lowers price (P), increases total sales volume and market share, lowers profits if price cuts are not offset by large increases in sales volume Offering coupons, advertising items on sale Increases sales volume and...

Question