1MANAGEMENT Executive Summary: The study is grounded on one of the efficient transportation company of Australia named as Ingogo. The study delivers an important assessment of the business model of the company where it is found that the key partners of the company are ATIA, Canaccord Genuity Corp., UBS,Brad Shofer and Federal Government of Australia. Other than this, it is observed that the company has the expertise of delivering top quality transportation services to their customers. Apart from this, the capability of the company in improving their marketing and promotional efficiency and emission controls are the success factor for the company in conducting a stable business. Other than this, the professional development of the employees and expansion of the revenue streams are seen to be much required for the company to maintain their financial sustainability and service reputation in the long run.
2MANAGEMENT Table of Contents Introduction:...............................................................................................................................3 Overview of the business:..........................................................................................................3 Deconstruction of the business Model:......................................................................................4 Key Partners:..........................................................................................................................4 Key Activities:.......................................................................................................................4 Value Proposition:..................................................................................................................4 Customer Relationship:..........................................................................................................5 Customer Segment:................................................................................................................5 Key Resources:.......................................................................................................................5 Channels:................................................................................................................................5 Cost Structure:........................................................................................................................5 Revenue Streams:...................................................................................................................6 Key Relationships:.....................................................................................................................6 Critical Success Factors:............................................................................................................6 Factors affecting the success of the business model:.................................................................7 Necessary Changes:...................................................................................................................8 Conclusion:................................................................................................................................8 References:.................................................................................................................................9 Appendix:.................................................................................................................................11
3MANAGEMENT Introduction: According to the comments of Bothaet al.(2016), the contemporary business entities are seen to face the necessity of managing their business operations in a scientific manner. The sustainable management of the business actions from the part of the business groups is primarily dependent on their ability in implementing their strategic policies in a professional manner. As per the esteemed opinion of Alhaddi (2015), the modern business groups have the obligationofmanagingtheirbusinessactionswithpreciseconsiderationtowardsthe financial, social and environmental sustainability. In such situation, the projection of the business activities with the help of the business models becomes considerably important as it provides the ease to the companies in deconstructing their business activities and monitoring the success of the sections in a more professional manner. The study analyses the business activities of Ingogo with the application of the business model canvas. Along with that, the study elaborates the relationship between the building blocks of the model. In addition to this, the study specifies the critical success factors for the growth of the company. Other than this, the study delivers an important understanding of the factors that are capable of affecting the success of the company and at the same time, the study provides a set of changes that I would have done in case it was my business. Overview of the business: Ingogo operates in the online booking industry of Australia. The organization is one of the premier companies operating in the online taxi industry of Australia. The organization was established in 2011 (Ingogo.com.au, 2020). The company currently serves across a number of Australian cities such as Adelaide, Sydney, Perth, Brisbane and Melbourne (Ingogo.com.au, 2020). Hamish Petrie is the Chief Executive Officer and founder of the company (Ingogo.com.au, 2020). The current headquarter of the company is situated in
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4MANAGEMENT Sydney, Australia. The company is renowned for their well utilization of the technology. The company has developed a customized mobile application which is utilized by the cab drivers to process fares. As a result, the company is able to develop a centralized process of taxi booking for all the cab drivers operating across the major cities of Australia. Deconstruction of the business Model: Key Partners: TheAustralianEquityCrowdfundingplatform,VentureCrowd,AustraliaTaxi Industry Association, investors such asCanaccord Genuity Corp., UBS andBrad Shofer who is the Co- Founder of Australian Multinational Corporation, MYOB along with the Federal Government of Australia are the key partners of the company(Myob.com, 2020). Key Activities: The company provides optimum quality transportation services with the application of their tech based mobile application in major cities of Australia likeAdelaide, Sydney, Perth, Brisbane and Melbourne. Value Proposition: The company follows the practice of the automated receipts for ensuring higher level of transparency. At the same time, the company utilizes real tine tracking and reporting services for ensuring that the smooth management of their business actions. The company delivers secure and safe transportation services to their customers at a cost which is comparatively lower than that of its competitors. Other than this, the most important value proposition of the company is that the company is the first transportation service provider in Australia which follows no surge pricing strategy in their pricing (Ingogo.com.au, 2020).
5MANAGEMENT Customer Relationship: The company utilizes the services of their business website, direct mail subscription, social media presence in different platforms such as the LinkedIn, Facebook and Twitter. Other than this, the usage of the customized mobile application for the management of the customer relationship is also evident. Customer Segment: The company targets customers of both male and female genders, customers with a substantial presence in social media along with the ability to operate the mobile application, customers belonging to an age range of 18 to 60 years and the customers who belong to an income level of 60000 Australian dollars per annum or above. Key Resources: TheIngogotaxis,skilled,experiencedandprofessionaldriversalongwith Information Technology infrastructure such as the customized mobile application and IT based payment techniques. Channels: The company conducts their business actions following two different channels which are the business website of the company and the mobile application. Cost Structure: The service fees of the company is 15% of the total sales and along with that the maintenance cost of the company is 10% of the total revenue (Driver-support.ingogo.com.au, 2020).
6MANAGEMENT Revenue Streams: The main revenue stream for the company is online cab bookings and the paid advertisements from other companies through company’s own mobile application. Key Relationships: With a close look at the model, it is understandable that key partners of the company are responsible for the funding and monitoring of the business activities of the company. As a result of the funding of the investors, the company is able to gather the resources such as efficient employees, IT infrastructure and the taxis (Bashir, Yousaf & Verma, 2016). As a result of the successful development and utilization of the resources, the company is able to manage their key activity which is to deliver top quality transportation services to the customers. Other than this, the company targets the specified group of customers through their social media platforms, business websites along with the direct mail subscriptions. The specified group of customers are targeted by the company values such as safe and secure transportation, no surge pricing, real time tracking and reporting services along with the scope of automated receipts. The two main channels of business of the company is seen to be the business website and the customized mobile application. The company utilized the channels for online cab bookings and for providing other companies the scope of conducting paid promotions through the mobile application of the company. With utilization of the above mentioned channels, the company is observed to face 15% of the total sales as service fees and along with that, 10% of the revenue is allocated for the maintenance (Driver-support.ingogo.com.au, 2020). Critical Success Factors: Oneoftheimportantsuccessfactorforthecompanywillbethecontinuous improvement of their marketing and promotional activities. The success of the company in
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7MANAGEMENT improvingtheirefficientinpromotingtheirbusinessactionsatvarioussocialmedia platforms, will be crucial for developing awareness amongst the customers regarding their services and will play an important role in influencing the purchase intent of the customers (Tuten & Solomon, 2017). On the other hand, the company has the necessity to audit the emission rate of their vehicles in a periodic fashion as that will contribute to the decrement of the environmental impact and will be much required in maintaining their triple bottom line in a professional manner. Factors affecting the success of the business model: With a close look at the activities of the investors, it is prominent that one of the fundamental factors affecting the success of the business model will be increasing amount of funding from the part of the investors. The funding is much required for the enhancement of the quality of infrastructure of the company and its vehicles to deliver improved quality of services and for the betterment of the facilities offered to their customers (Bashir, Yousaf & Verma, 2016). Along with that, the company has the necessity to provide sufficient scope of continuous professional development of their employees. In order to achieve the same, the company is expected to introduce extensive training and developmental activities for their employees which can enhance the expertise and efficiency of their employees in managing the customers (Wishart, Evenhuis & Mangan, 2018). Other than this, the company must concentrate on the formation of a scientific work schedule for their employees as that is much required to ensure that the employees have sufficient rest and the work life balance of the employees is maintained in a professional manner.
8MANAGEMENT Necessary Changes: OneoftheimportantchangeforIngogo’sbusinessoperationswillbethe improvement of the marketing and promotional activities. The company lacks any sort of presence in the social media platforms such as YouTube and Pinterest and that limits their ability to communicate their existing and new customers about their business actions (Felix, Rauschnabel & Hinsch, 2017). Hence, the improvement of the social media presence of the company along with the desired enhancement of the efficiency in the management of the marketing and promotional actions, will be much required for the success of the organization in the long run. Other than this, an important yet risky change that requires to be considered will be the expansion of the revenue streams of the company. The organization is recommended to enter the online food delivery industry in a simultaneous manner. The success of the company in achieving the new change ill certainly improve the profit margin for the company. Along with that, the feasibility of the idea is visible with the simultaneous management of Uber Eats and Uber in Australia (Moon, 2015). Conclusion: On a concluding note, it is visible that Ingogo is achieving greater success in conducting a stable business in the Australian online taxi booking industry. With a close look at the business model of the company, the necessity of concentrating on the marketing and environmentally sustainable business is seen to be notably high for the company. Other than this, the increased funding from investors for the infrastructural development and the expansion of the revenue streams of the company are observed to be crucial for the success of the company in near future.
9MANAGEMENT References: Alhaddi, H. (2015). Triple bottom line and sustainability: A literature review. Business and Management Studies, 1(2), 6-10. Bashir, M., Yousaf, A., & Verma, R. (2016). Disruptive business model innovation: How a techfirmischangingthetraditionaltaxiserviceindustry.IndianJournalof Marketing, 46(4), 49-59. Botha, T., Van Rensburg, M., Du Toit, G. S., & Motlatla, M. D. C. (2016). Introduction to business management. B. Erasmus, J. W. Strydom, & S. Rudansky-Kloppers (Eds.). Oxford University Press Southern Africa. Driver-support.ingogo.com.au (2020). How is the ingogo service fee calculated?. Retrieved 6 April2020,from https://driver-support.ingogo.com.au/hc/en-us/articles/333757021055-How-is-the- ingogo-service-fee-calculated- Felix, R., Rauschnabel, P. A., & Hinsch, C. (2017). Elements of strategic social media marketing: A holistic framework. Journal of Business Research, 70, 118-126. Ingogo.com.au (2020). Ingogo | Taxis done better. For Passengers, Drivers and Businesses. Retrieved 6 April 2020, from https://www.ingogo.com.au/ Moon, Y. (2015). Uber: Changing the way the world moves. Harvard Business School, Case, 101. Myob.com (2020). Business software and solutions by MYOB. Retrieved 6 April 2020, from https://www.myob.com/au Tuten, T. L., & Solomon, M. R. (2017). Social media marketing. Sage.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
10MANAGEMENT Wishart, D., Evenhuis, A., & Mangan, H. (2018). Road Safety Manual for the Taxi Industry.
Running head: MANAGEMENT Appendix: Key Partners Australian EquityCrowd funding platform, VentureCrowd TheFederal Governmentof Australia. Brad Shofer who istheCo- Founderof Australian Multinational Corporation, Key Activities Thecompanyprovides onlinetaxibooking facilitiestotheir customers. Value Propositions Automated receiptsfor maintaining higherkevel transparency. Realtime trackingand reporting servicesforthe customers. Safe and Secure transportation services. Most Customer Relationship oBusiness website oCustomized mobile application. oDirectMail Subscription oSocialMedia Platformssuch Twitter, Facebookand LinkedIn. Customer Segment Customersof both,maleand female genders. Customers belonging to the age group of 18 yearsto60 years. Customerswith thestrong presencein social media and thecustomized onlinecab
1MANAGEMENT MYOB. Canaccord Genuity Corp. UBS. AustraliaTaxi Industry Association. importantly,the firstAustralian transportation companythat offersfixed pricestotheir customersand says no to surge pricingevenin casesnatural disaster or heavy traffic jams. booking applicationof the organization. Customerswith anannual income of 60000 Australian dollars. Key Resources Ingogo Taxis. Skilledand Experienced Drivers. Customized Mobile Application. Channels Business Websiteofthe company. Customized Mobile Applicationof the company.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
2MANAGEMENT Cost Structure: 15% of the total sales is allocated for the service fees. Approximately 10% of the total revenue is allocated for the maintenance cost. Revenue Stream: Online cab bookings. The company earned a sum of 1.3 million US dollars as revenue. Paid advertisements from the part of the business organizations through the mobile application of the company.