Grab's Success with Key Drivers of Innovation and Blue Ocean Strategy

Strategy Enterprise and
Innovation

TABLE OF CONTENTS
(a) INTRODUCTION .....................................................................................................................3
(b) Key drivers of innovation contributing to the success of the company................................3
(c) Using appropriate models, to critically examine varied approaches undertaken by Grab to
aid shape its entrepreneurial vision & business model...............................................................7
(d) Grab's success can be attributed to the successful application of Blue ocean strategy.......11
(e) CONCLUSION........................................................................................................................13
REFERENCES..............................................................................................................................14

(a) INTRODUCTION
Innovation is a systematic process of making and inventing new ideas into a product or
services that creates business value and for which clients will pay. There are many kinds of
innovation includes incremental innovation, social innovation and others. Nowadays, innovation
is really important part in the world of business, because customers are more attracted towards
innovative ideas. Customer purchasing power is totally depended on the strategies used by
company, innovation and brand reputation. The present report will provide detailed information
about Grab company, providing various facilities such as grocery delivery, payments, financial
services and ride hailing. Furthermore, the study will provide information about the successful
journey of the company with the help of key drivers of innovation. Along with this, it will
provide information about business level competitive strategies and corporate level strategies. In
addition to this, study will evaluate the Grab's success with the application of blue ocean
strategy.
(b) Key drivers of innovation contributing to the success of the company
Grab is the most popular brand which was founded by Tan Hooi Ling and Anthony Tan
in the year 2012 in Malaysia. The brand started with a taxi hailing app which is designed by most
talented experts in order to improve safety and protection of taxi drivers (Meglio and Di Paola,
2021). The company's owner Anthony Tan and his top-level management team along with
employees have successfully managed to transform the company from taxi booking app into a
market leading organization.
Grab app- The company's super app is a most famous in the world where people can
easily make purchase goods or services as per their convenience. With the help of this mobile
application the firm has successfully achieved competitive advantages that offers on demand
daily services for millions of clients in south-east Asia. This business model has a huge impact
on society, safety of people, convenience, transportation facility and financial services. This app
is the most popular mobile payment platform where customer can book anything online and avail
services easily (Si and et.al., 2020). The customer can easily avail services like paying bills
online, ordering food, booking hotels, transportation. It provides benefits to keep its users close
the app for their everyday services. For example- nowadays, people are more concerned about

social distancing and doesn't want to go outside for their everyday services, users can pay bills,
order food, send important parcels from the Grab app.
Technology- The company is so successful just because of its strong focus on technology
and innovation. In today's business world, people are more attracted towards technology and new
strategies such as online shopping, home delivery of grocery items, online hotel booking and
others like transportation related facility. Hence, the company has clearly understands about
customer purchasing behaviour and attitude as it is totally depended on these factors. In addition
to this, they have adapted to the different languages and culture in each country they expanded
into, which helped them gain a lot of new customers (Li-Ying and Nell, 2020).
The firm offers a innovation and technology platform that connects clients with various
service providers. By focusing on creating a digital bank, the firm empower more new clients.
Top level management team of the firm has now expanded its business operations into different
business verticals. For example- mobility, effective payment modes and home delivery of goods,
car-sharing, ride sharing, car rental and bicycle sharing. Now the firm is focusing on launching
online healthcare services which is beneficial for social welfare.
Effective business model- Grab app and Grab Taxi functions like every other ride-hailing
service in the sector. The company's business operations includes: online booking of ride in
which user enters the drop and pick up locations. After that, it will send the request to the nearby
taxi drivers, if a driver is nearby then he will accept the request. Reaching the location the
customer pays the amount in cash or online payment.
Grab for good- This is the unique social impact programme which is launched by the
company in the year 2019 in partnership with the most famous company Microsoft. This
programme has been established to improve literacy and digital skills to the people of south-east
Asia. They are focusing on training and development program to empower millions of audience,
by creating major opportunities for them in a digitalization (An insight into the Technology
world, 2021). Along with this, the company major aim is to support small scale companies which
are the most realistic source of employment. Because people can have jobs as the young
generation are more likely to work in the technology and innovation sector in the future.
Reward system- In today's business environment people are motivated and attracted with
the help of various strategies such as rewards, subscriptions and other benefits, so does users of
the Grab app. The firm has various strategies such as rewards and subscriptions which help them