Uber is an American ride hailing service company, that allows passengers to seamlessly call for cabs from their smartphones. The company was established in the year 2009 in San Francisco, US, and currently operates in multiple international markets covering 900 cities in 80 countries. Uber is a fantastic example of how a company identifies an existing problem and uses modern technology to solve it. The services offered by Uber makes it much easier for passengers to find a ride for hire, just from their smartphones. Not only does it offer great convenience to the passengers, but it allows cab drivers to earn more revenue. In this article, the paper writer has discussed about the mission statement of Uber, which highlights what the company is set out to achieve through its business operations. For a business management student, this can be a compelling case study.
The mission of Uber has evolved over time. As the company has expanded its business into multiple avenues through diversification, its mission statement has also widened along with it. Nearly about half a decade ago, Uber published its mission statement to be: “To make transportation as reliable as running water everywhere, for everyone.”
From this statement it is quite clear that Uber wanted to make transportation accessible to everyone, as it compared it with something as basic as running water. The comparison with running water highlights that the transportation services of Uber can be considered as the most fundamental commodity for any individual. Just like running water the Uber services can be accessed as reliably by the customers. In the mission statement, the company has also included two key terms, which are ‘everywhere’ and ‘everyone’. This clearly suggests that the mission of Uber was to expand its operations to every market possible and offer its services to every market segment. In this case, it should be noted Uber did in fact expand internationally into more than 80 nations to offer ride hailing services at accessible prices for every people in every income group. Thus, this mission statement is focused on providing reliable transportation services to passengers in every possible market in the world.
The pursuit of the company towards this mission has helped it to become the leading market player in the industry. Moreover, catering an increasingly large customer base has also helped the firm to achieve higher revenue by leveraging economies of scale. As of 2019, Q4 the company has recorded a revenue of USD 3.7 billion, which is a significant increase from USD 2.6 billion in the previous year.
As mentioned earlier, the mission statement of Uber has changed over the recent years, as the company has diversified its business operations into other related sectors. At present, the company has rewritten its mission statement to be: “We ignite opportunity by setting the world in motion.”
Now let us break it down and see how the new mission statement has evolved from the previous one and what it means for the company.
This mission statement of Uber takes a much broader perspective, where the company highlights on mobility and how it can change the community as a whole. Uber began its venture as ride sharing platform and haseventually diversified into mobility related avenues, such as freight logistics, courier, food delivery and other alternative transportation solutions. The new mission statement suggests that Uber seeks to excel in the field of mobility as a whole by offer logistics and transportation solutions to a wide range of customers, and not just passengers.
The key term ‘ignite opportunity’ refers to the creating potential for growth opportunity for the community by offering them the ability to move from one place to another in the most seamless way possible. The multi-modal business venture of Uber focuses on bringing different entities in the supply chain closer together so as to maximize the value generation. In case of the ride hailing service, the company brings the cab drivers and the passengers closer together, so that both can benefit from the resultant transaction. Likewise, in case of its food delivery service, under the brand Uber Eats, the company brings restaurants and the consumers together, where both the parties can benefit.
Thus, the mobility solutions offered by Uber has the potential to foster industry growth and development of the community. The new mission of Uber is to provide more value to its stakeholders, in more ways than before. While previously, the company was focused only on ride sharing services, it has now diversified into various other mobility solutions as well, which can bring significant changes in the society.
Before, you get started with writing your essays on Uber, let us look at how the mission statement of Uber aligns with its core values. One of the core values of Uber is to build globally and live locally. The company has brought its technologies and scale of global operations to serve hundreds of host markets. The locally grounded operations with globally tested technologies have allowed Uber to create value which is not only offers best possible value but it also resonates with the local stakeholders. In its new mission statement, Uber has mentioned about ‘setting world in motion’, which perfectly aligns with its core values, where the company is set out to serve every markets segment by using its global operations.
The key takeaway from the mission of Uber is that the mission statement of the company has evolved along with it. As the firm has expanded its business operations, its mission has also widened further. It has shifted from just ride sharing services to global mobility services that can bring prominent changes in the community as a whole.
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