PRE-MODULE ASSIGNMENT - ENTREPRENEURSHIP & INNOVATION

Question 1:

Search4Drive is a new platform which will address a current challenge faced by the car rental
industry and a number of companies facing a similar challenge - how to move en masse their cars
from one place to another in a cost-efficient way.

In order to rate the degree of innovativeness using the Likert Scale, we evaluated Search4Drive
using the innovation core dimensions below.

1. Novelty - Introduction of a new approach or the application of an existing approach to a

new context
2. Implementation - Level of tangible influence or feasible implementation
3. Impact - Public outcomes, perception of the change

Using these frameworks, we rated Search4Drive an eight on the Likert Scale.

Touching on the first point, novelty, we felt that there have already been a number of innovations
in the core components that the technology will rely on to deliver the service. We viewed the key
components as logistics management software (currently used by the driver side of Uber and
Lyft), the invoicing and servicing systems (there are hundreds of these on the market today) and
a closed platform for driver management (also used by Uber and similar car-sharing services).
This product will likely rely heavily on technologies that already exist. However, Search4Drive
does combine all of these technologies and apply them in a totally new context, which is an
important facet of the novelty dimension. Search4Drive has identified a number of additional
stakeholders (like car repair shops and leasing companies) who could also benefit from this
service. We rated Search4Drive an eight in the area of novelty.

As for the implementation, we felt that due to the existence of other, similar products, introducing
Search4Drive into the market would not require a significant learning curve for those who would
drive the cars from point A to point B. By using concepts people already know (like calling it
“reverse Uber” or “like Car2Go for city to city trips”) it will be much easier to market and sell to
those stakeholders. However, we did feel that one implementation barrier to overcome would be
with the car rental companies themselves. This product may create competition for rental
companies if private people opt to take over an empty drive in a situation where they may
otherwise have rented a car. SearchDrive will need to carefully navigate this challenge to ensure
they aren’t creating competition for their key client. In this we rated Search4Drive a seven in the
field of feasibility of implementation.

In the third dimension, public outcomes, we see that Search4Drive has the potential to provide a
public outcome that we actually believe is in great demand - a way for car rental companies to
move their vehicles more efficiently as well as a way for individual people to have price-
competitive, on-demand access to vehicles they can take longer distances. Car-sharing
companies have, as of yet, not been able to crack a good solution in this space. We believe that
there is an opportunity on both sides, and that the public outcome could be significant. We rated
SearchDrive a nine in the category of public outcomes.

While Seach4Drive relies heavily on technologies that already exist, we believe that due to the
application to a new context and ability to meet a current consumer need on both sides of the
product, it is, indeed, an innovative product and should receive an overall rating of 8.
Question 2:

a) List of all stakeholders:

Car rental companies - A Leasing companies - B

Car repair shops - C Car sharing systems - D
Self-employed car drivers - E Private people - F
Public transport companies - G Companies with a pool of drivers - H
Car-transporter truck companies - I Local government - J
Search4Drive employees - K V-Booking owners - L

b) Position of stakeholders in the matrix:

c) Position of the most important stakeholders:

1. Car rental companies - A

On one hand, the Search4drive platform is a great solution for car rental companies.
Simply put, it gives them access to a tool that will help in the process of transporting their
cars from one place to another. Application of this solution will make shipping cars faster and
more efficient. It will also make the rental process cheaper, by lowering the cost of the car
return to the company parking space. In this way, it will have a positive effect on the revenues
of the company and make them more competitive in the car rental market.

Another benefit for the car rental companies is the fact that they will not have to make
separate agreements with each of the service providers, making the whole process easier
and more competitive. The ability to acquire collective invoices from the service providers via
the software is also an efficiency that will save the companies time and costs.

However, when the platform is opened to private people, they will be able to use
Search4Drive to plan their upcoming travel. They might opt to use the service over renting a
car and instead do the ‘empty drive’ for a company that had an order for such service on the
same road. This will provide a new way of traveling for the people, simultaneously lowering
the amount of possible customers for the car rental companies. Still, we think they are ways
they might be able to either cap the driver pool or monetize the ‘empty drive’ and would
therefore still be open to this product.

2. Companies with a pool of drivers

 On one hand, the Search4drive platform has a number of benefits for companies who have
a pool of drivers, primarily because they will have better access to a market of ‘empty drives’.
The solution will provide them a centralized database and open information on requested
orders. This solution will also allow such companies to be more efficient by better
understanding and planning routes. It will eliminate the necessity to send two drivers on the
same ‘empty drive’ or need to use public transport to go back to the starting location. It will
also help them understand where their drivers are and when so they can respond more
efficiently to orders.

On the other hand, this solution will result in increased competition for this stakeholder
group. Because the platform will be open to private people who will do the same service as
the car drivers for free, there may actually be less ‘empty drives’ available, unless some sort
of cap on the driver pool from private persons is imposed.

3. Self-employed drivers and private people

Implementation of the Search4Drive platform will benefit self-employed drivers and private
people. Up until now, self-employed drivers were excluded from many ‘empty drives’, since
car rental companies preferred to work with service providers. They also lacked knowledge
about some orders because there was no centralized ordering platform. Using the
Search4Drive, they will have more access to the ‘empty drive’ pool. It will also make their job
easier, allowing them to better plan their routes and potentially get home on another ‘empty-
drive’ and not, for example, by using public transport.

For private people, Search4Drive provides a new way to move to a different place. Instead
of using the services provided by car rental or public transport companies, they can do an
‘empty drive’ on the route they had to travel on anyway and they will be able to do so for free.