Business Finance
Discussion reply- read and write down your own opinions

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Question Description

read this article and write down your own opinions

200 word required


Uber, an online app that helps users get a taxi, is a great example for modern paradigm shift. Paradigm shift can be understood as a change in a trend or a norm. Uber in this case, has shifted the norm on how to get a taxi. For example, when one needs to get a taxi, he goes on the street, raise his hand, and wait until a taxi driver pulls over. When Uber started expanding their market in 2011, this is when we see one of Peter Drucker's 7 Sources of Innovation comes in. "Industry and Market Structure Change" is what I would best describe how Uber hits the market. With technology advances rapidly, business can be overthrown in a night. Uber caught this opportunity right when people become heavily reliable on smartphone or any mobile devices. It has changed the market structure into an online world where taxi drivers or actually anyone who signed up and qualified to be a driver, can be requested on people mobile devices. This paradigm shift has made great impact on not only taxi service, it also changed business like hospitality. Airbnb is an online platform where people can find places to live in; these places are also from the users as they sublease their places for people to rent. Both Uber and Airbnb possess one common trait, they created job opportunities while providing convenience to the public. When the market structure changes, it is when businesses should consider getting out of their comfort-zone to stay on top of the trend and not get swung away by the paradigm shift.

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Paradigm Shift
The future is online, any company that has an opportunity to advance in that direction should
grab the chance early enough. Recently people have become more and more reliant on
smartphones. Therefore, companies...

AceProf (2307)
UT Austin

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