Funding Your Plan and ROI

Posted: August 25th, 2021

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Funding Your Plan and ROI

It is the aim of every corporation to obtain revenue from its undertakings. Providing quality services to customers helps companies acquire returns through increased sales. In order to maintain a brilliant image to the consumers, corporations should ensure that they efficiently meet their needs. Implementing strategies of increasing the size of the company is a positive move towards gaining more profit. For the case of Lyft Inc., employing more females would effectively increase the revenue obtained for the organization.

The implementation of the gendered employment plan by the Lyft Inc.would play a major part on enhancing its economic status. Totty cites that male drivers are constantly accused of sexually harassing women. The presence of the female drivers will be more appealing to women passengers who fear assaults. This will increase the number of women who travel with Lyft. The portion of market share will, therefore, grow and extend to more areas. An increase in number of female customers will increase the revenue by an estimated 10%. In 2018, the company had returnsamounting to $2.2 billion(Clark). Hence, 10%increases in 2019 reflects a revenue of $2.42 billion as shown in the Figure 1. The implementation process will incur additional costs for hiring and training female drivers (Nagy). The revenue generated from female customers is expected to cover the costs and raise the income.

Figure 1: Annual  Revenues

In brief, companies gain profits through effectiveservice delivery. Effective customer services improve chances of retaining clients while outdoing competitors. Hiring more female drivers for Lyft would help to increase the revenue for the entire organization. This is because effective service delivery to people of all genders would be achieved. 

Works Cited

Clark, Kate. “Lyft Unveils Its S-1 and Nearly $1B in 2018 Losses.” TechCrunch, 1 Mar. 2019, techcrunch.com/2019/03/01/lyft-unveils-its-s-1-and-nearly-1b-in-2018-losses/. Accessed 16 Aug. 2019.

Nagy, Evie. “The Women Leaders Driving Lyft’s Impressive Growth.” Fast Company, 18 Apr. 2017, www.fastcompany.com/3041106/the-women-leaders-driving-lyfts-impressive-growth. Accessed 16 Aug. 2019.

Totty, Michael. “Economics of Women-Driver Ride Hailing.” UCLA Anderson School of Management, 9 Jan. 2019, www.anderson.ucla.edu/faculty-and-research/anderson-review/uber-gender. Accessed 16 Aug. 2019.