Knowee
Questions
Features
Study Tools

Which of the following is the most striking example of creating a new business model through digitization of a conventional industry? Whirlpool and White Goods Uber and Ride Handling Dabur and Fruit juices Maruti and Passenger cars

Question

Which of the following is the most striking example of creating a new business model through digitization of a conventional industry? Whirlpool and White Goods Uber and Ride Handling Dabur and Fruit juices Maruti and Passenger cars

🧐 Not the exact question you are looking for?Go ask a question

Solution

The most striking example of creating a new business model through digitization of a conventional industry is Uber and Ride Handling.

Here's why:

  1. Traditional Model: Before Uber, the traditional taxi industry was the dominant player. People had to either hail a cab on the street or call a taxi company to book a ride. This model was often inconvenient and inefficient.

  2. Digitization: Uber revolutionized this industry by introducing a mobile app that connects drivers with riders. This app allows users to request a ride from any location at any time, track their driver's location, and pay for their ride electronically.

  3. New Business Model: Uber's business model is based on the sharing economy and on-demand service. They don't own any cars themselves; instead, they provide a platform for drivers to offer their services to riders. This model has significantly reduced costs and increased convenience for consumers.

  4. Impact: Uber's success has disrupted the traditional taxi industry and has led to the rise of numerous other ride-sharing apps. It has also sparked a broader shift towards on-demand services in various other industries.

Therefore, Uber's transformation of the ride-hailing industry through digitization is a striking example of creating a new business model.

This problem has been solved

Similar Questions

Entirely new markets, business models, industries, and other opportunities that othershave not yet been conceptualized or pursued.

Changing a retail business model to a digital platform business is an example of __________ change. Answer Options Select any one option Clear Answer Questionable Transformational Incremental Quick wins

In the ________ business model, a business builds a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices.Question 10Answera.community providerb.market creatorc.e-tailerd.portal

Business models in technopr

Which type of innovation is most likely to create entirely new markets andbusiness models?*1 pointIncremental InnovationArchitectural InnovationDisruptive InnovationRadical Innovation

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.