The Push for Autonomous Vehicles

Strengths       

Weaknesses

Opportunities

Threats

The business strategy of Uber made the company competitive enough to stand ahead in the future and deal with the driver expenses and the produced efficiency. The business strategy of uber is enough to secure its future, and there is just a need to primary the efficient business environment.

Perception of the autonomous vehicle has worsened due to the incident of Herzberg. Decreased public perception is the major weakness of the company, as it is the major contributing factor in determining the productivity of a business.

The introduction of innovative autonomous vehicles enhances job opportunities in the technical field.

Lyft is the leading competitor of Uber due to its advanced technology autonomous vehicle and the legal regulations that the company had.

Productivity gains, increased safety, and the increased mobility, are the key strengths proposed by Uber by using autonomous vehicles. Using this technology by the company provides ease to travel for those who have poor vision, are blind, or have other disabilities.

Huge R&D costs of development and safety issues occur due to the lack of legal regulation. This is the primaryconcern of Uber, which s supposed to be considered.

Uber also created an increased number of partnerships with established companies. This will be a significantcontribution to the autonomous robotaxis.

Ubers business model of treating the drivers is also a leading threat to the new state regulations in the United States.

The company invested almost $1.1 billion in 2018 for autonomous vehicles. Moreover, the company partnered with the Toyota Motor Corporation and Volvo Car Corporation. This enhances thecompanys productivity and let the company go ahead.

The company made a heavy investment in 2018, in which uber spent $1.1 billion on the autonomous vehicle, but the company still cannot guarantee a productive investment.

Autonomous vehicles offer increased mobility for millions of Americans having poor vision, blindness or other disabilities.

Worsened public perception serves as the car crash for Uber and has also impacted the development of autonomous vehicles.

Uber is now taking legal support from the government to test its autonomous vehicles and make the vehicles secure and safe. Also, support by NHTSA maintains a balance between public perception and safety concerns.

Lack of leveraging significant and reduced business strategy to deal with the competitors like Lyft is a significant challenge for the company. Uber also has a lack of contingency plan, which is challenging for the entire company.

Health care, jobs, and education opportunities are enhanced due to the highly skilled engineering roles and the requirements of ride hailing drivers.

Increased regulatory crackdowns is also a threat to Uber and is influencing thecompanys operations.

Alternative 1

Uber must outsource advanced technological ways to deal with the technical errors by which the incident occurs.

The autonomous ride hailing industry must stand ahead of its competitors and involve its influenced operations. For this purpose, the company must invest in autonomous vehicles, along with the technological testing of the vehicle.

Pros

Making a financial investment in the company will enhance the financial investment and thecompanys productivity.

The autonomous ride hailing industry requires proper testing, which will be the companys primary strength.

Cons

Financial investment can also be risky because of the company.

Technological advancements in the company can be challenging for the entire company.

Alternative 2

States must balance their roles as advocates for innovations in automobile vehicle technology.

The company must struggle hard for further regulation to pass the automobile vehicle. It will help deal with the decreased public perception that has been worsened due to technical errors.

Pros

It will allow the company to maintain the balance in the legal regulations and deal with the political challenges.

The incident by Uber increases negativity in thepeoples perceptions. This causes increased political views opposing the company. Adopting this technology will strengthen the company.

Cons

Involving in the political parties also causes opposing challenges and disruptions for the entire company.

This alternative can also cause increased regulatory crackdowns for the company.

Alternative 3

Lyft is the largest competitor for the company. So, the company must devise the business models and the development of the autonomous vehicle technology (that can even detect other objects).

All thecompanys operations must also be influenced to deal with the increased regulatory crackdowns. 

Pros

Adopting this business model will be highly productive for the company, and this will undoubtedly continue investment in autonomous vehicles.

Increased regularity will enhance the profitability of the company.

Cons

Lyft has also collaborated with partners to secure its future. So, this strategy might be challenging for them and negatively impact the company.

Adverse public perception might not allow the company to deal with its regulations.

Alterative 4

Investment in the research and development and adopting different risk management strategies will allow the company to deal with the financial considerations.

Organisational processes and project portfolios will help the company to adopt productive research and development strategies.

Pros

Adopting this strategy will allow the company to define a coherent set of interrelated choices across the decisions concerning.

It will be beneficial in the competency development of the entire organisation. Moreover, it will also allow the prioritisation and the allocation of resources.

Cons

There is a possibility of leaking private information to the competitors.

Adopting this method will overburden thecompanys owner as well.

Alternative 5

Company must take assistance from government to prove the technological advancement and the safety of its autonomous vehicles. Proving this safety is the need of the business. Funding must also be made stronger to increase the wages of those associated with uber. 

The company must introduce a portfolio to motivate those who are feared of loosing their jobs. This portfolio must include the details of the job opportunities other than driving. This will be helpful in developing the better public perception, and other than this it will also unclear the net effect of the future jobs. 

Pros

This will help in the betterment of the public perception who think that these autonomous vehicles are not a safe option to choose. Moreover, testing will also allow Uber to perform better than its competitors like Lyft. Proven safety will develop the trust of the consumers and will also reduce the incidents that the autonomous vehicles have to face due to operating issues.

Development of the portfolio will let the drivers know more about the job opportunities that Uber will provide. Overall, this alternative will highly help the entire business.

Cons

Implementing this strategy is time consuming and requires more financial investment. This is very time taking and requires highly skilled engineers to reduce the incidents caused by the technical issues. Also, this alternative cannot be implemented as immediate action and requires investment.

Recommendation

Rationale

The company must make technological advancements referring to its competitor. Also, this technological advancement must be tested by government support as well.

The rationale for choosing this is to enhance the productivity and profitability of the entire company. Testing the technological features will also reduce the chances of incidents occurring.

The company must made and investment while overlooking rates of corruption. More stakeholders involvement will enhance the companys funds to involve advanced technological features in autonomous vehicles.

The rationalefor choosing this strategy is to deal with the financial crisis and the corruption issues arising in the company. This will help in dealing with the increased opposing political views.

Risk management strategies and the research and development tactics must also be a part of its business strategy. This will allow the company to get over the risky situations and threats arising due to the threats and weaknesses of Uber Inc.

Rationale for choosing this strategy to deal with the challenging situations that might occur due to the external factors alterations. It will also allow the company to perform better than Lyft.

Uber must follow all the ethical guidelines and follow the regulations approved by the government. This will allow the company to ensure in overseeing all the legal decisions and regulations.

The rationale for choosing this strategy is to minimise the legal challenges and negative impacts of its standards. This will allow uber to monitor its functioning lawfully.

The human resource department of the company must introduce the decision making process, which will help restructure the senior authority responsible for managing the finance sector of Uber.

The rationale for choosing this strategy is to restructure the company financially and in managing the entire business activities. This will facilitate the entire processes of the entire company.

Action and implementation plan:

Immediate actions:

The companys profitability is hard to achieve; therefore, the company must take immediate action to achieve a long term cost reduction strategy. The long term reduction strategy will not only deal with the research and development costs. It will also deal with the safety issues and regulations in different states that Uber is considering.

The CEO of the company must set up policies regarding this, and it will help reduce the financial imbalance and drawbacks.

When – this mustbe implemented in the company at the earliest as it will allow the company in dealing with the financial challenges.

Cost/ impact – this is somehow expensive for the company, and implementing this strategy can be time consuming, but it will help the company increase productivity.

Customers are demanding fuel efficient and self driving cars because it balances the increasing energy consumption in the environment. So the company must go for government testing to test every new technological advanced feature. Almost 40 corporations are involved in autonomous vehicle projects, so the ride hailing industry must become saturated while promoting innovative alternatives for differentiation.

Who – external stakeholders will assist in following this action plan. The external stakeholders involves the government who works for the technological testing of technological features.

When – this is an immediate action to be taken by the company to deal with public perception. It will help in dealing with the adverse public perception that has been rising due to the incidents.

Cost/ Impact – this decision is inexpensive and requires government support and external stakeholders. However, the strategy is time consuming but will help in reconstructing thepublics trust.

Uber must involve high skill roles in engineering within its company with every technological inventions. This will help in dealing with increased accidents.

Who – Company HR department is responsible for hiring new employees in the company. Uber requires highly skilled engineers to pass the technologically advanced features and to implement policies for supervising the entire company.

When – this is the immediate to be taken by the company, because the company requires urgent skilled technical employees to deal with the operators issues.

Cost/ Impact – the company requires hiring new engineers, and it is time consuming because choosing the right skilled engineers requires proper time and professionalism.

Short term actions:

Uber Inc. must develop a corporate business strategy, for this will allow the company to renew the policies where the company is lacking. The three strategies on which the company must work include growth, stability, and renewable.

Who – CEO of Uber must take this action to decrease the threats and challenges for the entire company.

When – this action cannot be taken on an immediate basis and requires time. But it can be done in a limited time.

Cost/ Impact will help the company deal with the challenges and barriers due to technological advancements.

Uber Inc. must also introduce research and development strategies to deal with the challenges that the company is facing due to its cost. It will help in managing the balance in thecost production process.

Who – the HR department and the management sector of the company is responsible for implementing the research and development strategies.

When – it is a short term goal and can be achieved within few months.

Cost/ Impact – this short term goal does not require much cost but will enhance its productivity.

The HR department of the company must involve more stakeholders for balancing the company financially and updating the rules and regulations of the company legally.

Who – The HR department must take actions and contact stakeholders for funding purposes.

When – As it is a short term goal so it can be achieved within few months.

Cost/ Impact – it is an expensive short term goal and is time consuming. But it can impact the company and enhances productivity.

Long term actions:

Uber can outsource and implement technical advancement at its business place. Financial considerations must also be a part of the company. The company must also do a competitor analysis from time to time to maintain its competency in the technological world.

Who – CEO is responsible for taking this long term action.

When – this is a time consuming task and requires substantial investment and the implementation of various strategies.

Cost/ Impact – it is an expensive process but will make the company financially stable. This allows the company to perform better than its competitors.