601_Week_8_Discussion

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Perry technical institute (LTI) KLM 05 cccc Ccccc Cccc Document Details Submission ID trn:oid:::1:2672460354 Submission Date Aug 31, 2023, 1:48 PM PDT Download Date Aug 31, 2023, 1:49 PM PDT File Name 601_Week_8_Discussion.docx File Size 22.2 KB 4 Pages 431 Words 2,789 Characters Page 1 of 6 - Cover Page Submission ID trn:oid:::1:2672460354 Page 1 of 6 - Cover Page Submission ID trn:oid:::1:2672460354

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1 Week 8 Discussion Boluwade, Alaba University of Canada West 601 31/08/2023 Page 3 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354 Page 3 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354

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2 Week 8 Discussion Due to the nature of the sector and the local regulatory environment, starting a private transportation firm in Vancouver, like Uber, would entail clearing various entry barriers. Here are five key obstacles we are likely to face: 1. Regulatory Compliance and Licensing: One of the most significant impediments would be complying with the many rules that regulate the transportation business (Informed, 2022). Vancouver, like many other cities, has certain licensing, insurance, and vehicle safety criteria that your company must follow. This includes getting permits for each driver, inspecting vehicles, and following to particular insurance coverage requirements. Maintaining your company's legal framework while achieving these standards is critical, but it may be time-consuming and complex. 2. Market Competition and Established Players: It may be difficult to enter a market already dominated by established players such as traditional taxi services and ride-sharing businesses. These companies have already carved out a sizable market share and established great brand recognition(Alonso, 2023). To beat the competition and differentiate your service from the competition, you'll need a well-defined value proposition and successful marketing methods. 3. Driver Acquisition and Retention: Building a fleet of qualified and dependable drivers is critical to your transportation company's success. However, because to competition from other rideshare services, hiring and retaining drivers may be difficult. To attract and retain a pool of qualified drivers, companies must offer competitive pay, flexible working options, and driver support services. 4. Technology and App Development: Page 4 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354 Page 4 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354

3 Creating a user-friendly and efficient mobile app for booking trips and managing services is crucial for a transportation firm like Uber's success. The app's technology must provide a smooth experience for both passengers and drivers, such as real-time tracking, payment processing, and efficient routing(Altynpara, 2023). Creating and sustaining such a technology platform necessitates substantial investment and expertise. 5. Trust and Safety Concerns: Building trust among passengers is critical, as they are entrusting their safety to your drivers. To ensure passenger safety, rigorous background checks, vehicle inspections, and safety measures would be required. Establishing a dependable customer support system to rapidly resolve problems and issues would also help to develop trust and a great reputation in the market. Page 5 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354 Page 5 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354

4 References Alonso, T. (2023, February 16). Strategy Study: How Uber Disrupted An Industry With An Explosive Approach . Www.cascade.app. https://www.cascade.app/studies/uber-strategy- study Altynpara, E. (2023). How to Make an App Like Uber and Estimate Its Cost [Checklist] . Cleveroad Inc. - Web and App Development Company. https://www.cleveroad.com/blog/uber-like-app-development-cost/ Informed, B. (2022, February 23). 5 ways to handle international trade and transport compliance issues . Be Informed. https://www.beinformed.com/blog/5-ways-to-handle- international-trade-and-transport-compliance-issues/ Page 6 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354 Page 6 of 6 - AI Writing Submission Submission ID trn:oid:::1:2672460354

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