Read the case and answer the question.

On the Go is a motorcycle ride phone service in an Asian country established in 2010. Since then it has developed into an on demand service using a mobile platform and app and has expanded its operations from one city to over 25 cities within that country. It has also expanded its services to incorporate transportation and logistics, food delivery, and other delivery services. On the Go pride itself on speed and innovation and is determined to make a lasting contribution to the lives of those who work for the business. Their drivers are referred to as partners, not employees, but they do have access to health and accident insurance and other benefits.

Asian cities are famous for their traffic congestion, and government initiatives have failed to deal with the issue. The solution to getting around quickly is the motorcycle taxi. The problem is that motorcycle private taxies are unsafe, unregulated and insanitary (thousands have work that old helmet before you). On the Go solves all these problems with real time tracking and control as well as free head covers and face masks for customers.

On the Go has become the motorcycle equivalent of Uber. In crowded cities, due to heavy traffic, On the Go actually has a significant advantage over Uber. Users register when they open the app for the first time, and all they need to do is to fill up a pick-up address, the delivery address, and when they need the service. The app will then show the price. Payments can be made in cash, on the Go credits. On the Go also feature a referral promotion cod system. When a new user put in an existing customer promo code, they receive $2 Credit. As does the customer whose promo code they used. This way, there is a direct incentive for word-of-mouth referral.

On the Go is estimated to have over 200,000 drivers across 25 cities. It has recently expanded to create private car services. It formed a partnership with the main taxi company in the country. In 2017, Uber introduced motorbike taxi services in the same country. The competition is set to be tough in the coming years.

On the Go is actively looking to expand into other markets such as Sri Lanka or India. On the GO is also committed to fighting for their market share in their original country, which has a population of more than 200 million, and is considered one of the largest internet markets in their region.

Question:

1. What is the importance of a business plan. Develop a summarized business plan focusing on Three components only (5 Marks).