Introduction

The growth and development prospects of a company largely rely on its innovations and innovative approaches. Innovation is the backbone of a company in terms of expansion and enhancement of the market and customer reach. It has been observed that innovation significantly plays the role of a tool for competitive advantage and companies that have succeeded in leveraging innovation have succeeded in obtaining the competitive advantage over their rivals. Though innovation and risk management go hand in hand and despite the fact that effective implementation of innovation demands overcoming of risks and challenges, it is imperative for an organization to integrate innovation in its business management process and operations for ensuring the success run (Wanjohi & Ombui, 2013). Moreover, to ascertain how innovation can usher positive developments for a business organization it is essential to conduct a case study of a particular innovative organization, which, in this case, is Uber Technologies, Inc (Uber). Through the incorporation of creativity in its business processes and its operations and through enhancing its innovative entrepreneurship approach, Uber has not only been able to emerge as an innovative company but also as a key industry player. It is the innovation that has helped Uber to expand its business globally and to accumulate a customer base that is considered unprecedented in the respective industry.

Uber’s Innovative Entrepreneurship

The entrepreneurial approach is one of the greatest determinants of organizational success and this has always held true for Uber. Innovative entrepreneurship has always remained a crucial organizational resource for Uber. Since its inception in 2010, the American app-based transportation platform, Uber, headquartered in San Francisco, California, has continued to implement a creative entrepreneurial approach that has fostered a work culture that embodies innovation (“Uber: Most Innovative Company”, 2021). Business strategies like the acquisition of the Silicon Valley startup Otto and the eventual incorporation of its hardware and software system into the business and operational processes of Uber are pointers to the creative and innovative entrepreneurial practices for which Uber has always been hailed (“Uber: Most Innovative Company”, 2021). Moreover, over the years, amid criticisms for ushering innovations that have disrupted the ride-hailing industry, Uber’s top management has strived to foster a purposeful culture that is not only motivational for the employees but is also conducive to leveraging innovation within the Uber workplaces (Mainwaring, 2019). The amalgamation of creativity with strategic entrepreneurship has paved the way for Uber to sustain its innovations constantly. In this respect, it has to be noted that Uber’s creative collaborative entrepreneurship approach that has transformed its ride hailing app as enabler of workers to work on their own terms and as per their feasibility has actually supported entrepreneurship of the drivers and of those stakeholders that are out of the driver’s seat (Mainwaring, 2019). There are thousands of full-fledged entrepreneurs who rely largely on the Uber platform for maintaining a steady income flexibly and this is an explicit demonstration of entrepreneurial innovation that has triggered unprecedented growth for Uber globally (Mainwaring, 2019). Moreover, creativity in entrepreneurship, which has allowed Uber to emerge as one of the most innovative companies of the modern era, has strategically supported Uber’s innovative approach of developing the entrepreneurial ethos of “intra-preneurship” that has provided opportunities to Uber’s business partners and key stakeholders to bring their own entrepreneurial perspectives into their own work and into Uber’s core businesses (Mainwaring, 2019). This is yet another example of Uber’s innovative approach towards ensuring business growth, development, and expansion.

Uber’s Creativity Propelling Innovation: the Disruptive Model

Furthermore, it is noteworthy that creativity and innovation have always been the basis for Uber’s emergence as a game changer in the concerned industry. In this respect, it has to be taken into account that the creation of an app for catering to the needs of drivers and passengers/commuters through a digital platform in itself was an innovation that disrupted the ride hailing industry altogether, ushering new milestones in the context of the industry’s business (SanchezArmas, 2020). Uber’s disruptive innovation model has been recognized by the global investor community and this is quite evident from the fact that without making large profits the company still was able to hold a market cap of US $72 billion (SanchezArmas, 2020). Moreover, even though disruptive, Uber’s innovations, which have summarily ousted traditional taxi operations from the market competition, have been able to improve the quality of rides and commuting for the majority of individuals across the globe (SanchezArmas, 2020). It is due to this positive change prospect that the disruptive innovation model of Uber has been acknowledged and admired by investors, business partners, and key stakeholders alike. Besides, innovation has been quite evident from Uber’s approach to provide a door to door experience to the passengers, which businesses never thought of in the context of providing effective rideshare services, and this approach also supports the claim that Uber is one of the most innovative companies of modern era (SanchezArmas, 2020). Moreover, Uber’s creative approach towards developing an application that could be opened at any time at any place (where Uber services are available) also ushered innovation in the ride share and ride hailing industry, enhancing the logistics of the business and ensuring effective time management and cost-effectiveness for the customers (SanchezArmas, 2020). Apart from the aforesaid, Uber’s creative approach towards developing and implementing price and transaction processes on a digital platform also fueled innovation within the respective industry, which, in turn, has made ride hailing and share riding more affordable for the majority of customers (SanchezArmas, 2020). This creative approach of Uber has also ushered innovation within the industry in terms of enhancing business transparency, which has paved the way for enriching user experience in countries of Uber’s operation distinctly (SanchezArmas, 2020). Price and transaction applications that have continued to embody Uber’s innovation have also ended the monopoly of conventional taxi services that are comparatively still expensive and overpriced (SanchezArmas, 2020). This has balanced the competition within the industry, setting examples for startups willing to enter the ride share and ride hailing sector.

Integration and Implementation of Uber’s Innovative Approaches

Also, it is noteworthy that Uber has demonstrated innovation in terms of using social media platforms as monitoring tools for understanding customer trends, demands, and needs (Bharti, 2014). In this respect, it has to be taken into account that the Uber team monitors social media inventively for obtaining customers’ feedback in real-time, and this has allowed the company to make dynamic and worthy adjustments as needed by their customers (Bharti, 2014). This has helped Uber to accumulate a globally large customer base which tends to remain loyal to the company. Moreover, the integration of artificial intelligence (AI) within its complex business intelligence systems has also made Uber more innovative in the context of learning effectively and efficiently about where customers come from and go to and how over time the commuting patterns change based on week, season, weather conditions, sporting events and business gatherings (Bharti, 2014). Furthermore, coupled with innovation, Uber’s strategic entrepreneurial approach has helped the company to survive the odds of criticisms springing out of the grievance of taxi drivers and operators who think Uber’s worker policies are unjust (Bharti, 2014). And this has been quite evident from Uber’s launching of a massive public relations campaign that convinced policymakers and customers of the need for technology innovations that Uber had already implemented in its business processes (Bharti, 2014). Quite intelligently and creatively (with agility) Uber succeeded in emerging as a disruptor within a regulated industry and eventually toppled the incumbents within the industry through ushering innovation that was out of the reach of the regulators (Horn, 2016). This provided Uber with the opportunity to accumulate a sufficient number of customers that helped the company in investing in and leveraging the innovations, ensuring overall business success for Uber (Horn, 2016). Hence, combining creativity, innovation, and agile (yet collaborative) entrepreneurship, Uber has sustained its leadership position as an innovative company.

Conclusion

Hence, it can be said that the growth and development potential of Uber has largely relied on its innovations and innovative approaches. Innovation has always been the backbone of Uber in terms of expansion and enhancement of the market and customer reach. It has been observed that innovation, for Uber, has played the role of a tool for competitive advantage substantially, paving way for Uber to leverage its business strategies and operational processes for succeeding in obtaining the competitive advantage over their rivals. It is a fact that the creative entrepreneurial approach is one of the greatest determinants of organizational success and this has always held true for Uber in a thorough and explicit manner. Uber’s disruptive innovation model has not only leveraged its potential to emerge as a game changer within the respective industry but has also provided opportunities to expand exponentially through alluring investors and ensuring their support. And the culmination of Uber’s creativity, entrepreneurship, and innovation has been the accumulation of a globally large customer base that tends to remain loyal to the company, enhancing its profitability and supporting its success run in a manner that has been unprecedented within the domain of ride sharing and ride hailing especially.

References

Bharti, R. (2014). Uber: A Paragon of Operational Innovation. Retrieved July 1, 2021, from
https://magazine.wharton.upenn.edu/digital/why-uber-is-a-poster-child-for-operational-innovation/

Horn, M.B. (2016). Uber, Disruptive Innovation And Regulated Markets. Retrieved July 1, 2021, from
https://www.forbes.com/sites/michaelhorn/2016/06/20/uber-disruptive-innovation-and-regulated-markets/?sh=3a96acef37fb

Mainwaring, S. (2019). Purpose At Work: How Uber Scales A Culture Of Entrepreneurship. Retrieved July 1, 2021, from
https://www.forbes.com/sites/simonmainwaring/2019/11/05/purpose-at-work-how-uber-scales-a-culture-of-entrepreneurship/?sh=ad090ae2584d

SanchezArmas, C. (2020). Uber vs. Taxi. Retrieved July 1, 2021, from

https://digital.hbs.edu/platform-digit/submission/uber-vs-taxi/

Uber: Most Innovative Company (2021). Retrieved July 1, 2021, from
https://www.fastcompany.com/company/uber.

Wahjohi, J.N., & Ombui, K. (2013). Effects of Risk Management Practices on the Performance of Insurance Firms in Kenya: A Case of AIG Insurance Company Ltd. International Journal of Science and Research, 2(9), 390-394.