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MGT525 Competitive Strategies

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MGT525 Competitive Strategies

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Course Code: MGT525
University: Yale University

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Country: United States

Question: 
The Five Generic Competitive Strategies: Which One to Employ Value Added: Finish Blue Ocean; Smile Strategy;
 
Discussion: UberIt is Monday morning and you have just been called to meet with Uber’s executive team. You have been asked to prepare a set of strategic recommendations for Uber. Specifically, what strategic moves should Uber make within the next three years? Has Uber built and lost a Blue Ocean for itself? Can it rebuild it? What generic competitive strategy is Uber employing?
Answer: 

Recommendations for Uber for the Next Three Years
Having built a name for itself in the ridesharing industry, Uber has continued to provide service to millions of people all around the world. When it launched, it was operating in a blue-ocean market, but over time, new competitors began to emerge with some ruthless enough to attempt to displace Uber from its top position in this business. For this reason, it is true that Uber has lost a blue ocean for itself in the current day and age, but the situation can be reversed by adopting a reasonable strategic move. Over the next three years, Uber should ensure that they stop undermining their competitors like they have been doing and put up ruthless advertising campaigns (Edinger et al., 2016 p.11). Gone are the days of the blue ocean, and to regain the market, Uber should convince people that it is the best ride-sharing service.
Over the next three years, Uber should improve on their generic competitive strategies by proper planning and execution of well laid out options after observing what their competitors are doing in the market. One generic competitive strategy that the company could adopt in the next three years to help it standout is focus. In the past, Uber has used cost leadership and differentiation to stay as the leaders but due to the stiff competition, it is paramount for the organization to look into ‘Focus’ as a key to recovering their market share (University of Cambridge, 2018). Focusing on certain segments of the industry and tailoring its strategy to serving the people could go a long way in ensuring Uber’s success and recovery of the blue ocean.  
References:
Edinger, A., Marino, M., Marino, L., & Stepchuck, M. (2016). Uber in 2016: Can It Remain the Dominant Leader of the World’s Fast-Emerging Ridesharing Industry? Case 12, 1-13. Retrieved from file:///G:/Hustle/2502997_142231946_Uberin2016.pdf
University of Cambridge. (2018). Porter’s Generic Competitive Strategies (ways of competing). Retrieved from IFM Management Technology Policy: https://www.ifm.eng.cam.ac.uk/research/dstools/porters-generic-competitive-strategies/

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