Prepare a 10- to 12-slide Microsoft® PowerPoint® presentation with speaker's notes using the same organization you selected in Week 2. LYFT

Business Finance

Waldorf University

Question Description

the paper about LYFT was already written, so you'll just have to make a presentation based on the attached paper and the instructions below

add 100 words speaker's notes for each slide.

make minimum 10 slides (not counting title and references slides)

Prepare a 10- to 12-slide Microsoft® PowerPoint® presentation with speaker's notes using the same organization you selected in Week 2. LYFT

Create a business plan for this organization to enter a global market in which they are not already doing business

Be sure to include the following:

Description of the business - type of Industry, Mission Statement, Business Model, Product and Service

Description of the industry - Future outlook and trends, Analysis of Competitors, Industry and Market forecasts

Description of technology - Technology comparison, Commercialization requirement

Marketing plan - Market segment, Pricing, Distribution, Promotion, Product or service, Sales for the first 3 years

Financial plan - Pro forma income statement, Pro forma cash flow statements, Pro forma balance sheets, Break even analysis, Sources and applications of funds

Production Plan - Manufacturing process (amount subcontracted), Physical plant, Machinery, Supplies of raw material, Outsourcing aspects

Organization plan - Form of owner ship, Identification of partners and/or principal stakeholders, Authority of Principals, management team background, organizational structure, roles and responsibilities of organization members

Operations Plan - Description of company’s operation, Flow of Orders and Goods

Summary Slide

Include 2 of the 7 recommended appendices (exhibits) as listed in section 3

Potential exhibits, Resume of principals, Market of statistics, Market Research Data, Competitive Brochures, Competitive Price Lists, Supplier Price lists, Lease and Contracts

Format your presentation consistent with APA guidelines.

Unformatted Attachment Preview

1 Running head: LYFT Lyft University of Phoenix Orissa Barrera Innovative and Creative Business April 11, 2020 LYFT 2 Lyft Introduction Lyft is a ridesharing company that is based in California and operates in 644 cities in the United States. It is the second-largest company after Uber, with a market share of 28% (SEC, 2019). Riders are required to download a mobile application that is used to request rides. Lyft was launched in 2012 as a service for Zimride, which is a long-distance city to the city company. This company provides five different ride types using the mobile application. The rides include shared ride, Lyft XL, Lyft, Lux Black, Lux, and Lux Black XL. Lyft is focused on using technology to ensure car owners join a transited network for ridesharing. Design and Innovation at Lyft Lyft has invested in innovation and modern designs for active carrying out business activities (Amanda, 2014). The real innovation that the company has brought out is in the transformation of the experience of the user during the ride. There has been a change in the delivery of individual experiences from the regular taxi business. This, among other innovations, has made the company different from waving a taxi. The technology employed by the company allows a user to follow along to the specific route. Lyft relies on technology, and this amounts to designing a ride or the application to enhance the experience of the user while being driven around. Designers have been employed to improve the experience of riding in a taxi, and as a result, there exists a unicorn valuation of the company. Different designs have been tested by the company and have become useful in terms of service delivery to the customers (Amanda, 2014). Design thinking at the company has allowed ideas and information to be organized, knowledge to be improved, and designs to be made. There are different design principles have been applied to the LYFT 3 innovation and strategies of the company. The effectiveness of Lyft in innovation and design thinking can be analyzed using the five elements of design thinking. Elements of Design Thinking The first element of design thinking is a creative problem-solving. This element involves having an understanding of the problem to be solved (Hassi & Laakso, 2011). Research is conducted empathetically to develop an understanding of the user. Lyft has engaged and empathized with customers by ensuring different options to suit them. The designers of the company used empathy to set aside assumptions about the business world to have an insight of the different users and their needs. The second element is being human-centered. This element is evident in the practices of the designers of Lyft when continually improving the mobile application service. This element involves synthesizing the many insights gained from the first element. The company uses the information gathered and organizes it to ensure it makes sense (Amanda, 2014). Initially, the mobile application by the company did not have to allow users to provide feedback for services provided. By considering the different aspects of this element, designers have added various features for ultimate feedback provision. The design and innovation process adopted by Lyft is collaborative in that people with different perspectives work to create multidisciplinary teams. The interdisciplinary teams created to ensure different viewpoints and co-creation of customers (Hassi & Laakso, 2011). Lyft involves a flat hierarchy hence the applicability of the collaborative element. The improvements to the mobile application of the company have been as a result of the collaboration among the employees LYFT 4 in the organization. The incorporation of this element in design thinking at the company has allowed it to increase its market share over the years. Lyft’s design process is also iterative during the implementation of innovation (Amanda, 2014). Innovation implementation is one of the elements of design thinking. This element involves reframing and challenging the problem after coming up with a solution to a problem. In this element, test, iterate, and test again is engaged to ensure that the solution delivers will be loved by the consumers. The innovation and design thinking at the company goes through tests and retests to ensure that any features included will be loved by the customers. The addition of the different types of rides by the designers of the company involved the incorporation of this element. The company can, therefore, provide various types of rides as per the specification of the customers. Lyft’s Excellence in Design Thinking The organization particularly excels in innovation implementation as huge capital is invested. The application of different innovations by the company is made within a short period allowing smooth incorporation of the innovation. It excels in this element of design thinking as it is centered around the use of technology to update the services provided using a mobile application. The incorporation of the different elements has made the design thinking process of the company more effective in the competitive market. Currently, the company is evaluating the current and other additional designs that are aimed at ensuring customers have a great experience as compared to other ridesharing applications. The company also excels in the rewards systems. The reward systems are available for both the drivers of the ridesharing company, the customers, and the workers at the core of the business. LYFT 5 The reward system is effective to the extent that the increase in the number of customers has been attributed to the reward system. The company can measure innovation and ensure that it is viable for the company in addition to providing the required services to the company. The designers at the organization can analyze the innovation in place to ensure that it aligns with the aims and objectives of the company. These two elements are essential in the implementation of a new innovative design by the company and also ensure a competitive advantage. (Geissdoerfer, Bocken, & Hultink, 2016) note that the excellence of the company in these areas is evident in how the company handles new innovative ideas and solutions provided to specific problems. Areas of Improvement Despite Lyft having an updated technologic system of innovation, it is still unable to have a competitive advantage over Uber. It is important to include additional features in the mobile application. This involves incorporating additional designs. These additional features will provide options for the drivers and customers using the mobile application. One crucial design that is being used by other ridesharing applications is the splitting of costs with multiple users. This comes in handy for customers who ride in a group. Lyft should also improve its accessibility program by incorporating designs that include the use of wheelchairs and other special features for customers. The primary competitive firm: uber has incorporated such designs to ensure that all customers are catered for. This has increased the number of customers for Uber compared to Lyft. Recommendations Lyft can improve its design thinking and innovation by considering the following recommendations. First, the company should integrate foresight. Integrating foresight often opens up companies to a future that is full of certainties (Geissdoerfer, Bocken & Hultink, 2016). The LYFT 6 company will, therefore, focus on designs that are relevant to the ridesharing business. Lyft should also consider a dynamic constructive process that enables employees to be interactive at different design levels. This can also be done by designing a meaningful and productive employee experience using solutions that are simple, enjoyable, and compelling. However, this requires resistance to ensure that the innovative strategies employed have a remarkable impact on the employees, drivers, and customers. LYFT 7 References Amanda Hackwith (2014). A Look Inside the Design Team at Lyft. Retrieved from: Geissdoerfer, M., Bocken, N. M., & Hultink, E. J. (2016). Design thinking to enhance the sustainable business modeling process–A workshop based on a value mapping process. Journal of Cleaner Production, 135, 1218-1232. Hassi, L., & Laakso, M. (2011, June). Design thinking in the management discourse: Defining the elements of the concept. In 18th International Product Development Management Conference, IPDMC (pp. 1-14). SEC (2019). LYFT. The United States Securities and Exchange Commission. Retrieved from: m ...
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