21s01abt005 Sylvia Ongaki Group Leader (1)

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BOLT ORGANIZATION PROJECT 5 TEAM PRESENTS PROJECT

BOLT TAXIS ORGANIZATION NAMES Sylvia Ongaki-21s01abt005 Quinter Odhiambo-19j01APS043 Pamela Muthengi-20s01ABA057- Maryanne Gatumbi-21j01ABA087 Emmaculate Silantoi-19m01APS056 Jonnes- Mokemo-20s01ABA059 Onesmas Kibitok-20s01ABA059 Stella Ndegwa-20s01APS022 Magdalene Koki-20S01AIBM009 Sharon Njuguna-20s01ABA068 Noah Wanjoya-21s01ABA005 Hardley Shiwani-20s01AIBM014 Angwango- Valentine-19S01APS016

ABOUT US Bolt is a taxi service business that was founded in 2013 by Markus Villig, a 19-year-old high school student to aggregate all Tallin and Riga (Europe) taxis into one platform. He developed the first version of the mobile app with €5,000 borrowed from his parents. In August 2019, the company rolled out its food delivery service, Bolt food. It was later launched in Kenya in 2017 and has had a massive growth since then serving over 4 million customers. Industry that we are in is a transport industry section. Our major competitor we have in our industry is the following: Uber and In driver PURPOSE OF OUR ORGANIZATION • Offer transportation. Bolt cars are available 24/7. Our organization Bolt, do not offer transportation services but we provide information society service. We act as a marketplace connecting passengers with driver so that we can help them move around cities more efficiently • Offer food delivery services. Our organization deliver food and take away ordered from local restaurant online. You can order your favorite dishes and it will be delivered to your doorstep • Offer vehicle for hire. Bolt provide cars for hire as short or along as you need it, minutes, hours or days • Make transport fares more affordable for its customers. Transport is calculated based on default base fare, the distance and the duration. Our organization, Bolt has made transportation fare morecheaper than uber for customers to afford • To provide convenient, affordable and safe riders and drivers. For you to be a bolt rider or driver there are terms and condition you must agree on. The driver is fully liable for any violation of local laws and regulations providing transportation service. Driver must provide the transportation service in accordance manner with business ethics. The strictness and business ethic provide a safe and convenient mode of transport to customers BOLT’S CORE VALUE INCLUDE : 1. Focus on the customer: Bolt aims to provide a seamless and convenient transportation experience for its customers, putting their needs first. 2. Reliability: Bolt strives to be dependable and consistent in providing high-quality transportation services. 3. Safety: Bolt takes safety seriously and implements measures to ensure the safety of its passengers and drivers. 4. Sustainability: Bolt aims to reduce its environmental impact and promote sustainable transportation options.

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5. Transparency: Bolt values transparency in its operations and communications with its customers and stakeholders. 6. Efficiency: Bolt aims to provide efficient transportation services that save time and improve the overall experience for its customers. 7. Innovation: Bolt embraces new technologies and ideas to improve its services and stay ahead of the competition. These core values guide Bolt's business decisions and operations, and help to differentiate it from other ride-hailing platforms. CRITIQUE ON CORE VALUE 1. Bolt aims to provide a seamless and convenient transportation experience for its customers: Many people prefer to use Bolt because of its fair prices as compared to its competitors like uber. This is its main advantage because of its lower prices. 2. Bolt strives to be dependable and consistent in providing high-quality transportation services: bolt has a frictionless and conversion rate. 3. Bolt takes safety seriously and implements measures to ensure the safety of its passengers and drivers: Bolt is very competitive because of its in-app SOS Feature. It enhances security and safety. 4. Bolt aims to reduce its environmental impact and promote sustainable transportation options: It is committed to making all journeys taken via its app carbon-neutral through offsetting. 5. Bolt values transparency in its operations and communications with its customers and stakeholders: Bolt does not sell the personal information of its customers. 6. Bolt aims to provide efficient transportation services that save time and improve the overall experience for its customers: Bolt best operates between 7 am and 10 AM. It could improve on this and better operate for more hours. 7. Bolt embraces new technologies and ideas to improve its services and stay ahead of the competition; Bolt recently launched second gear which helps enhance digital customer communication. PHILOSOPHY OF OUR BOLT TAXIFY BOLT is a program uniquely designed to bring together people ,provide them with a shared outdoor experience and continued group activities throughout the year. We hope to foster an

atmosphere of collaborative leadership by emphasizing the importance of involving everyone in group decision-making. We believe that most trips in the city don’t require the use of a personal car. At Bolt, we’re building a future in which people are no longer forced to buy a car to get around. Where people have the freedom to use transportation on demand, choosing whatever vehicle is best for each occasion. Our products and services are designed to offer a reliable solution to the world’s logistical problems, doing so in an affordable, safe, and sustainable way. Experience is great, but what we really look for is drive, intelligence and integrity. In other words, people who work hard, learn quickly and care about those around them. We focus on what each person can become, not only what they’ve done in the past. Dozens of people at Bolt started off with no relevant experience, but quickly grew into leading large teams and impacting the lives of millions of people on a daily basis. CRITIQUE PHILOSOPHY OF BOLT TAXIS In a statement, a spokesperson for Bolt said the app has a number of safety features, “such as sharing your ride by sending your contact a live map of where the ride is taking you.” She also said, “We address matters on a case-by-case basis, and we encourage riders to report such encounters via the app or via email.” Although the risks of using Bolt are well-known, the service is still startlingly popular. Its share of the Nigerian ride-hailing market is almost 60%, according to analysis by Nigerian tech site Technext, and the service has around 20,000 drivers, more than double the number that its nearest rival, global ride-hailing giant Uber, has in the country, according to Comrade Ibrahim Ayoade, president of the National Union of Professional App-Based Workers, who spoke to Technext. Bolt’s popularity may simply be a result of its extraordinarily low prices. The app is far cheaper than Uber, whose fees remain out of reach for most Lagosians. In a city with little reliable public transportation, Bolt, while risky, remains one of the only affordable options. “Bolt has focused on going to places most competing ride-sharing apps like Uber won’t go and are less heavy-handed on their drivers,” said Emmanuel Paul, a writer at Techpoint, a tech-media platform. The result of that, he added, is that its standards are lower: “It’s easier to onboard on Bolt than on Uber. Meaning, different shades of people can be let in on the platform. … The easier the entry barrier, in this case, the more bad eggs will have room to join.” Solution Bolt has instead focused on telling riders how to keep themselves safe from its drivers. The company has developed promotional campaigns in the app and on social media that remind passengers to double-check their driver’s identity and share their location with a trusted contact; the company has also promised to support passengers after their ride is over. The company’s marketing strategy may reflect the fact that it feels capable of riding out the current wave of criticism.

The company’s marketing has, at times, appeared tone-deaf. In October, during the height of the #EndSARS protests, users were offered 50% discounts using a promo code that played on the movement’s slogan, “Sorosoke,” which means “speak up.” In mid-November, when another wave of reports against Bolt drivers was making the rounds on Twitter, the app allegedly paid a number of influencers to put out tweets praising Bolt and promoting its #DrivenBySafety campaign. While none of the influencers admitted to being paid, several had been actively calling out the company just days before. A few influencers later apologized after backlash from their followers. Bolt told Rest of World that it routinely uses influencers for marketing and to promote its safety campaigns. Mission statement: To make urban transportation more convenient and affordable, while also helping drivers increase their earnings and improve their livelihoods." Vision statement: To be the leading transportation platform in the world, providing reliable and affordable rides to millions of people every day, while also creating economic opportunities for drivers and contributing to the development of sustainable cities. Critique statement of Mission and vision Bolt taxi is slowly taking over the public transport because of it’s competitive nature and the better services it provides with it’s personalised transportation to take you wherever you want whenever. This brings us to the statement “Great service doesn’t have to cost the earth.” This emphasises on the company’s affordable pricing strategy. Bolt taxi not only provides quality services that out does the public transport, but also has this commitment to charge a reasonable fee to its users. Porters 5 of Bolt Taxis Porter’s five forces analysis assists in analyzing of the level of competition and business strategy development that shapes every industry and helps determine an industry’s weaknesses and strengths. It draws upon industrial organization economics to derive five forces that determine the competitive intensity and therefore the attractiveness of an industry. The five forces framework works by looking at the high points of five essential elements that affect competition. These fall under Supplier Power, buyer power, competitive rivalry, threat of substitutions and potential new entrants. Understanding the network channels, potential growth and attractiveness of a company in the transportation industry demands the use of Porter’s five forces analysis. Bolt is one of the fastest growing omnipresent ride-sharing transportation company. Within the few years of existence, the organization has succeeded in capturing the loyalty of its customers by catering to the on-

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demand rides of individuals of all caliber of society. This has, in turn, enabled bolt to expand its market share and provision of better services. With the enormous glory and popularization surrounding the company, Porter’s Five Forces Analysis brings to light the strengths and weakness the firm possesses in the industry in various countries. 1. The potential threat of new market entrants: A company’ position can be immensely affected by the ability of other organizations to enter their market. The potential risks that the enterprise face are as follows; • Setting itself in the technological arena, Bolt aims to provide a linking bridge between customers and transport providers. This market requires a higher amount of initial capital to start up, and though Bolt founders parted with a substantial amount of capital, upcoming rivals are utilizing lesser initial capital to jump start their operations thereby quickly penetrating the market. • Though Bolt’s policy is to freely offer their software to willing clients, these services can however easily be swapped at zero charges. As the demand to balance costs become imminent, Bolt is not invulnerable to raising rates, making it easier for other organizations to penetrate the industry. The ease of service swap by customers is a strong force because it defines the firm’s survival rate in the sector. • Various problems have popped up in Bolt operations; legal issues, negative press around several areas and even fines by government authorities has made the market to be under controversies thereby making new entrants very cautious stepping into the business. This has at least for a short period, reduced the threat of new entrants into the market who must work in overcoming all these challenges. • As a technology-based company, it is not easy for Bolt to stop any form of imitation by any other transportation firm. This means that it is easy for the concept to be copied by new ride- sharing companies and other competitors thereby to not only operate in the same way as Bolt but to also charge less for the same distance. 2. The threat of substitutions: A Substitute is a well know fear that is experienced in a competitive business environment. In the transportation industry, there are numerous member organizations that can quickly provide a replacement for Bolt services. With the service quality that Bolt provides, taxi services, for instance, is the closest opponent and a potential substitute emerging from the traditional transportation industry. Taxi service is traditional to towns with ride-sharing operations because of both its lower-cost and efficiency, and user-friendly designing. As such, their abundance is enough to curb Bolt from elevating the service fees. It is noteworthy that due to price sensitivity, a minor rise of Bolt rates can result in customer taking on the services of its closest adversaries and alternatives. Moreover, due to the presence of other public means of transport like trains, private cars and even self-driving cars (Google Cars) that offer similar services can threaten Bolt’s existence or operations. A constant threat of substitutes is currently a weak force in the case of Bolt taxis..

3. Supplier Bargaining Power This is the ability of suppliers to drive up the prices of a company’ inputs. The threat of supplies to BOLT is experienced below: • One of the leading suppliers of the transportation industry is the availability of drivers. Bolt does not own vehicle among its fleets. As such, the company’s business model is mostly dependent on drivers owning cars. Regrettably, the concentration of this group of suppliers to work for bolt is not very high due to the stringent requirements needed to be hired by Bolt. Bolt utilize a subcontracting policy for its employment process to individuals that meet the terms of use of their web application. It is also tough to substitute individual drivers as they are given the freedom to choose between the organization and rivals. This results in drivers negotiating for better attention to the company’s expense. Therefore, it is undeniable that the suppliers have a stronger power in impacting bolt’s performance. • Oil and gas suppliers is another major provider. The oil price has been increasing Highly fluctuation of the price of such an essential component to company’s transportation industry brings a high risk to the market because of the level of uncertainty and non-predictability of oil to powers vehicles. Suppliers of these components thereby have a high bargaining power in the operations of bolt . 4. Threat of buyers: High- Buyer Bargaining Power The strength of customers can affect the performance of a firm by lowering the prices placed on the products and services. • Bolt’s clienteles are sensitive to price variations due to the existence of alternatives and rivals. As the market grows bigger, the number of opponents bringing customers more choice also becomes larger thus makes the switching cost for customers comparatively low. This is because bolt application software is not only free but just requires a client’ registration. Customers can therefore freely choose between bolt, Uber, Curb, Lyft, or other emerging ride- sharing entities at no cost. • The number ownership of private cars has experiences a huge rise during the past few years, and though the parking problems have been more severe than ever before, this has not stopped individuals from desiring the status attached to one owning a car. This as an alternative means that the demand for Uber services is low. In light of these factors, the buyers’ bargaining power has limited the amount of income for the firm, hence solidifying it as an active force. 5. The degree of rivalry: This is the strength of competition in the industry. The trend of concentration of the industry appears to be higher than previous years, and the existing companies in the market compete with both suppliers (car drivers) and customers.

Though there are some competitors such as Curb and Didi Chuxing,uber is considered the principal competitor of bolt. Uber has an almost indistinguishable business ideas and procedures to that of bolt. Not only are the two firms contending for market share but also the suppliers. A modern business setting demands organizations target a customer base within a given geographical locations to cut on the operation cost. This is the incident for Uber and bolt. Bolt has a deep-rooted business system and massive capital investment. In essence, it is a market trail- blazer, but small variation strategies limit the firm’s potential. Competition is a weakening force given bolt’s supremacy. Bolt is indeed a dominant force in the ride-sharing industry. However, there is a need for improvement of its innovative strategies to gain a competitive edge. The transport sector has many alternates and competing entities. To survive, it is vital for Uber to lower the cost of operation to avoid raising customer charges. BOLT’S MAIN COMPETITOR UBER & WHAT DIFFERENTIATES BOLT FROM UBER. INTRODUCTION. We offer different varieties of rides to our customers from which they can choose the one that suits them better i.e Bolt Go,Bolt premium, Bolt comfort,Bolt women only,Bolt XL and Bolt van. Uber and Bolt, two of the most excellent ride-hailing companies, have become fierce competitors. They have disrupted the way we commute in cities. Riders and drivers will find many similarities between the two services. However, it would be a bit challenging to say which one of these ride-hailing companies is better than the other as they offer similar services differently. Also, both Uber and Bolt have their own set of needs and features. So between Uber and Bolt, who is the better one? WHICH IS CHEAPER? BOLT. To out Uber from the market, Bolt cut its transportation charges to make them fair and accessible to their clients. Bolt app also distributes promotional codes to its consumers enabling fantastic deals. UBER. According to several evaluations done Uber’s trip charge or cab fares look to be higher than Bolt’s. WHICH OF THE TWO COMPANIES PAYS DRIVERS MORE? BOLT. Following a successful trip, Bolt gets 25% to 20% of the entire amount paid per trip. It reveals that Bolt drivers receive a larger share of the total payment (80% to 85%) which is a considerable amount.

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UBER. After a successful journey Uber takes a percentage of the total trip charges, generally between 30% to 35% of the entire amount paid and the drivers get 70% to 75% of the entire money amount paid. WHICH IS THE SAFEST? BOLT. Before hiring, Bolt verifies all the drivers using its verification platform. Their verification procedure entails thoroughly inspecting each document submitted by drivers to ensure that their information matches all official databases. When you request a trip in the Bolt app, it will show you all the driver’s name and photo, car’s license, plate number and model/make information. As an added safety step, they provide an Estimated Time of Arrival tool that allows customers to share their travel status live on the map, including the complete driver data, with others. Bolt offers a rating option that allows you to rate the services of drivers. They also provide ride trip security, which protects your possessions from the beginning to the journey’s finish. Bolt covers each journey entirely. UBER. Uber’s smartphone app has safety features that allow consumers to share their travel status and alert their loved ones where they are. This tool is intended to assist if the need arises or if anything happens while your journey progresses. Uber app gives unrestricted access to customer assistance via their app 24 hours a day, seven days a week, to allow emergency reaction if you meet unexpected issues or accidents during your trip. In addition, Uber has made a two-way rating system available to aid and keep both drivers and customers safe. Uber tracks all its journeys from start to finish using the Geographic Positioning System (GPS) allowing its partners to follow their rides and know where they are headed. Before entering the car, you may view the car’s license plate number via the app. SAFETY MEASURES FOR DRIVERS: BOLT vs UBER. BOLT. 1. Drivers may view the personal information and profiles of passengers. 2. Drivers of bolts are also tracked along the journey. 3. The Bolt taxi app has navigation software that assists drivers while driving. 4. Drivers can also obtain insurance. 5. Drivers are advised to report any uneasy encounters with passengers. UBER. 1. Drivers can verify riders.

2. It is also critical to provide comments after each meal. 3. It would be beneficial to be cautious with the riders’ personal information. 4. The usage of a seat belt is also essential. 5. Uber apps are monitored during the journey. CONCLUSION. To summarize, selecting better riding services from these companies would be difficult. However, it might simply be a matter of personal choice. Although Bolt has lower ride pricing, Uber also has other fantastic experiences that give it an advantage. We evaluated the two firms in this post based on several characteristics for both drivers and riders. Riders can examine the rated speed of services via feedback and other criteria. Drivers must consider the application procedures, training process and vehicle specifications. It is difficult to argue that Uber is still the finest option for ride-hailing. How to satisfy our customers As a Bolt taxis organization in Kenya, there are several strategies you can employ to satisfy your customers. Provide excellent customer service: Ensure that your drivers are well-trained and courteous to customers. Respond promptly to customer queries and complaints, and offer timely solutions. Offer competitive prices: Consider the market rates and set competitive prices that are affordable to your customers. Ensure safety: Make sure that your vehicles are well-maintained and meet all safety standards. Additionally, conduct background checks on your drivers to ensure that they are qualified and trustworthy. Use technology: Utilize technology to enhance your customers' experience, such as by offering cashless payments, providing real-time tracking, and sending notifications. Reward loyalty: Offer incentives to your repeat customers, such as discounts, free rides, or loyalty points. Solicit feedback: Regularly ask your customers for feedback on their experiences, and use that feedback to make improvements and address any issues. By implementing these strategies, you can create a positive reputation for your Bolt taxis organization and increase customer satisfaction. Provide convenience: Make it easy for your customers to book a ride with you. Offer a user- friendly mobile app or website where customers can book rides, track their drivers, and make payments. Make sure that your service is available 24/7, and that your drivers are always ready to pick up customers.

Challenges and Solutions Partner drivers for Uber and Bolt in Kenya's ride-hailing industry are not at all happy. They are expressing their unhappiness about the performers' failure to implement the increased commission fees that have been mandated by law on both platforms in a fresh round of strikes and protests. Only a few days after Uber and Bolt's 18% commission review was set to take effect, these taxi drivers staged a go-slow yesterday [September 26] to pressure the companies to cut their costs. The National Transport and Safety Authority (NTSA) of Kenya recently announced the new policy, which impacts all ride-hailing services in the nation, not only Uber and Bolt. Uber filed a lawsuit, claiming that doing so would probably limit the flexibility of its business model and compromise its capacity to obtain advantageous rewards. The dominant cab-hailing company also expressed concern that the downward revision would negatively impact demand and the marketability of its investment. According to a document submitted by Coulson Harney LLP, the law firm representing Uber, "the adoption of 18 percent as the ceiling for the permissible fee has the potential to hinder innovation and reduce the petitioner's economic viability of investing in the market". While Bolt has not yet filed a lawsuit to contest the reduction or is merely waiting for the ice to melt, it is obvious that the company is not keen to reduce its commission, which is why both its drivers and those of its main rival [Uber] are protesting in the streets. Uber typically charges a 25% commission per trip, while Bolt only takes 20%. These two platforms will undoubtedly need to undergo significant reorganization as soon as the policy becomes law in order to gain the favor of the industry's watchdog. But, Uber would suffer more because it would lose 7 percent of its market share, compared to Bolt's possible 2 percent loss. An spike in fuel costs is also a major factor for drivers, particularly in Nairobi, where gasoline now costs USD 1.49 (KES 179.86) per liter and diesel costs USD 1.37. (KES 165.37). Drivers are angry enough to threaten a temporary halt in services because Uber and Bolt have yet to implement the directed changes. There are rumors that some drivers plan to go offline in the near future. "Uber and Bolt are being urged to follow the law. On September 22, regulations were intended to go into force. The Organization of Online Taxi Drivers and Digital Taxi Association of Kenya leader, Zachariah Mwangi, stated that this is the cornerstone of their strike, which began this morning, September 26, at dawn.

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One player, though, is not particularly impacted. Little, a local player, has a defined 15 percent commission rate, which is lower than the NTSA's 18 percent norm; as a result, its partner drivers are ostensibly not taking part in the fiasco. In fact, if the situation doesn't change, it can be a chance for Little to gain more customers and outperform its biggest competitors. There are other markets where the Uber-Bolt team is having regulatory difficulties besides Kenya. That has essentially been the same thing in Tanzania in recent months, where the Land Transport Regulatory Authority (LATRA) has ordered that charges be fixed at 15%. The regulators now aim to make amends and welcome these businesses back into the market with more benevolent policies after months of twists, turns, and halts—Uber pulled the plug and Bolt converted to corporate-only services. Drivers scarcely had a role in this story; instead, both players reacted as they saw fit in order to survive or do business profitably. Tanzania is a smaller market than Kenya, East Africa's undisputed IT hub. While the latter has a population of 22 million, the former only has 15 million, and Uber and Bolt might not be eager to give up on the latter's more advanced digital ecosystem. It's also vital to keep in mind that, in May, Swvl, Egypt's soon-to-be-SPAC'd bus-hailing firm, left the Kenyan market due to a forced downsize

21s01abt005 Sylvia Ongaki Group Leader (1)

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