uber-mission-statement

A Quick Glance At Uber Mission Statement

Uber’s mission statement is to ignite opportunity by setting the world in motion.

Let’s see what it means!

A short analysis of the Uber business model

Uber business model has become one of the most mentioned in the business world, as it managed to change the way mobility works. While Uber still represents a small percentage of the global mobility market, it is still an incredible case to look at.

When you build a new industry, market, and a whole new business model, you need to tweak it over and over to find a balance, which aligns value creation, with value capturing. As of now, Uber hasn’t found its balance yet, as the company is still unprofitable.

So far Uber business strategy leverages on Liquidy Network Effects, which focuses on tightening its margins to broaden its network.

liquidity-network-effects

A Moonshot thinking approach

Google is famous for having popularized a moonshot thinking approach. Uber also uses a bold mission to drive its business strategy. This bold mission starts from:

Our mission is to ignite opportunity by setting the world in motion.

The ambition of Uber’s business strategy emphasized first on creating a whole new market (ridesharing). And then to take over the mobility market itself.

As pointed out in its financial prospectus Uber “just got started” with only 2% of the population in the 63 countries where it operates the company looks to expand further.

Several factors drove the Uber phenomenon. In the letter to shareholders in 2019, CEO Dara Khosrowsha pointed out how Uber got there and where’s going next!

uber-letters-to-shareholders-part-1 uber-letters-to-shareholders-part-2

Source: Uber Financial Prospectus

The foundation of the Uber platform moves around a few key elements:

  • Massive network: consists of tens of millions of Drivers, consumers, restaurants, shippers, carriers, and dockless e-bikes and e-scooters, as well as underlying data, technology, and shared infrastructure
  • Leading technology: proprietary marketplace, routing, and payments technologies
  • Operational excellence: extensive market-specific knowledge to rapidly launch and scale products in cities
  • And product expertise: contextual, intuitive interface, continually evolve features and functionality

That’s how Uber brings people from point A to point B, which is the unit of the Uber business model.

Based on its mission Uber formulated eight cultural norms:

  • We do the right thing. Period.
  • We build globally, we live locally.
  • We are customer obsessed.
  • We celebrate differences.
  • We act like owners.
  • We persevere.
  • We value ideas over hierarchy.
  • We make big bold bets.

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Published by

Gennaro Cuofano

Gennaro is the creator of FourWeekMBA which he brought to reach about a million business students, professionals, and entrepreneurs in 2019 alone | Gennaro is also Head of Business Development for a high-tech startup, which he helped grow at double-digit rate and become profitable | Gennaro is an International MBA with emphasis on Corporate Finance | Subscribe to the FourWeekMBA Newsletter | Or Get in touch with Gennaro here

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