Reference no: EM133187827

Can you help me with these questions

The task is to undertake a simulation (role-play) of the business decision-making process. This simulation is to be completed and submitted individually.

For the simulation, you will play the role of CEO of 'Smart Ride', a new ride sharing company (of the likes of Uber, DiDi, Ola, etc.)  that is about to enter the market. The market currently consists of two firms with roughly equal market share - 'Mega' and 'Sprite'. Your task is to answer the questions below.

1. Although initially Smart Ride attracted many customers, after six months of operations, under heavy competition, it has been forced to lower its price to its break-even point to stay in the industry. Brainstorm the strategies Smart Ride could use to improve its market share and profitability. Write down the strategies you came up with, distinguishing between 'demand side' and 'supply side' strategies. There is no limit to the number of strategies you can propose, but you should propose at least four. 
2.  Go through each strategy and discuss its pros and cons. Include the results of these discussions in your report.
3. For feasibility, Smart Ride can only implement one strategy at this time. Choose one strategy that you came up with that you think is the best option and justify your selection.  
4. Finally, draw an evaluation plan for your chosen strategy. The evaluation plan will set out how you will determine whether your strategy was successful or not. It should include details on how you will implement your strategy (e.g. market wide, with a test market etc.), a timeline, the key data you plan to collect, and how you plan to analyse these data.