As a young company, barely over 5 years, Lyft has taken the transportation network industry in both the United States and Canada by surprise. The company has grown into a major transportation service provider in the region outdoing many other existing players due to its strategic business approaches.
Within the 6 years of its existence after being founded by John Zimmer and Logan Green, the company has worked its way up the competitive sector coming second with a market share of approximately 30%. The rapid success and rise to prominence have been attributed to the mission and vision statements of Lyft that focus of unrelenting development and growth. A corporate vision statement essentially forges the future a company wants to achieve, while a corporate mission statement represents the activities or strategic operations that the business considers applicable to drive it towards the vision.
For Lyft, this is an aspect the company was very clear about since its early days. Its vision statement alludes to its desire to reform and transform the transportation networks in the U.S. and the world. The mission statement, on the other hand, lays emphasis on its primary objectives of serving its customers by connecting them through its services.
There is more to the rise of Lyft in the U.S. – the core values. The company supposedly has the best culture in the sector, ad this explains its speedy growth and capturing of such a large market share. Therefore, Lyft core values work hand in hand with its mission and vision statements, and this is the force that has molded it into a major corporation within such a short period in the game.
Lyft’s mission statement is “to reconnect people through transportation and bring communities together.” In this statement, the company reveals the impact it wants to have on the people it serves, and this extends to the larger communities where it operates. Based on the statement, the following points emerge:
- Reconnect people. Facilitating transportation is the main operation of Lyft through its online app. However, at this point, the company shows that it does not just link customers to rides or drivers to customers – it creates the best environment where the two parties can interact in a healthy and life-improving way. The features and improvement elements incorporated in the Lyft app essentially makes the company work for everyone.
- Improving communities. The people are at the heart of all the operations of Lyft as depicted in how the company runs its business. Lyft has initiated several programs targeting to facilitate the enhancement of transportation in various cities in the U.S and Canada as part of its efforts to meet this aspect of its mission statement. For instance, through its Lyft City Works maxim, the company states that it dedicates over $50 million every year to fund programs that support city transportation. Some of these include the development of transportation infrastructure, promotion of a future that is clean energy-oriented, contributing to disaster recoveries, care for the environment and supporting the vulnerable groups in the society. In this way, the company makes it easier for people to interact, survive, and travel, impacting positively on their lives.
Lyft’s vision statement is “ride by ride, we’re changing the way our world works. We imagine a world where cities feel small again. Where transportation and tech bring people together, instead of apart. We see the future as community-driven and it starts with you.” The statements identify the purpose of the company especially in creating a transportation network that works for all people. The vision statement has these features:
- Improving the accessibility of cities. In this vision statement, Lyft re-emphasizes its ambitions of changing how effectively people travel within the cities. Through its platform, the company opens a new era where customers and drivers can easily navigate and get to their destinations comfortably. This is what the company means by guiding people through the cities and making the cities small again.
- Driving the future with technology. Lyft exploits technological advancements to bring people together through its app. The company integrates attractive and easy to use features for everyone. The simplicity associated with Lyft is one of the aspects that has contributed to its popularity, making it the future of transportation networks.
Lyft’s core values include “be yourself, uplift others, and make it happen.” The company enforces these values to mold a team of workers, drivers, and partners that promote the interests of the company while giving their all to serve the customers.
At Lyft, independence is a respectable attribute. It is what the company sees as the ability to achieve the unexpected, which also includes the will and desire to help others do better. In this way, everyone contributes to the overall good of the society while at the same time fostering the achievement of the mission and vision statements of the company.
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