The management function most closely related to setting goals to remain competitive, such as Uber’s challenge of managing for competitive advantage, is planning. Explanation:
- Planning involves establishing goals and standards, developing rules and procedures, and forecasting future conditions to guide the organization’s actions. It is the process where managers set objectives to maintain or improve competitive advantage by anticipating market changes and aligning resources accordingly
- Strategic management, a form of planning, specifically focuses on setting an organization’s mission, vision, and long-term goals to gain and sustain competitive advantage. It helps organizations like Uber clarify their direction, prioritize resources, and adapt to evolving market conditions to stay competitive
- For Uber, this means setting goals around technology innovation, market expansion, pricing strategies, and operational efficiency to maintain its competitive edge in the ride-hailing industry
Thus, planning is the core management function that enables Uber to set goals and strategies to remain competitive in a dynamic market environment.
