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Rise In The Market

Grab And Their Rise In The Market

Table of Contents

The company we choose is called Grab, formerly known as MyTeksi and GrabTaxi. In 2011, Grab began as a “Taxi Booking Service” business plan project for Harvard Business School. Then, in 2012, a company called “MyTeksi” was founded, and in 2014, “GrabTaxi” was the name given to it. It became the well-known Grab Holdings INC. or just Grab in 2016 after some development and expansion in Southeast Asian Industry. Grab Holdings Inc. ventures in Technology, Transportation, Service, Delivery, E-Commerce, Online payment, Financial services, Vehicle Rental, Insurance, and Online hotel reservations. In this article we will also discover how much this certain company helped themselves and also the communities that they want to help, in order for the to become a company that is known by everyone and is still running up to this date. 

The Services That They Cater

The chosen company places more of an emphasis on services than on goods. In 2012, Anthony Tan and Tan Hooi Ling, the company’s founders, developed a mobile app service for booking taxis. They improved their transportation service as soon as the app released by doing a taxi booking and dispatching service is called Grab Taxi, Grab automobile is a fixed-price private automobile service, Get a collection of upscale private vehicle services from Grab, Grab Share is a carpooling service that offers a discounted rate, and also affordable eScooter rentals are available through Grab Wheels.

The company has launched app services including food delivery, which eventually expanded to other service deliveries, as well as the ability to pay bills and access other financial servicesWhat is the nature of corporate social responsibility, and which of the SDGs does it address? Responsibility to Shareholders, Employees, Consumers, the Environment, and Responsibility to Society in General are the types of corporate social responsibility that Grab is aligned with. These aforementioned types address various sustainable development goals like no poverty, good health and well-being, gender equality, decent work and economic growth, industry, innovation and infrastructure, reduced inequality, and

Grab Holdings Inc. selected Southeast Asia as its outreach region and population community, according to the Grab Social Impact Report 2018-2020. “We drive Southeast Asia forward, by elevating the quality of life for everyone,” reads their mission statement.

The Company’s Overall Activity

Creating economic opportunities at scale program. This program provided job opportunities and livelihood activities that empowered 9 million Micro entrepreneurs across Southeast Asia. According to Grab Social Impact Report, approximately 1 out of 70 people in Southeast Asia have earned income through Grab app. Going Beyond Income; Caring for the communities. This gave out US$200,000 educational grants to almost 1,000 driver partner’s in the region. They also wanted to assist small businesses to prosper, this opened up new opportunities for helping small and medium-sized businesses develop cost-effectively by providing them with a larger market via the app.

They wanted to empower those that are disabled Break the Silence: Supporting the Deaf and Hearing Impaired and Grab Assist: Improving Mobility for the Disabled are two of the activities included in this program. In terms of making daily life safer and developing strategies to beat traffic, this improved transportation, makes it safer, and helps reduce traffic jams. LookingAhead is a program that is aimed towards improving everyone’s quality of life in Southeast Asia. The effort is concentrated on relief efforts and donations to various charities totaling $480,000. COVID-19 at a Glance is a program where they donated $40 million in US dollars to aid in Southeast Asia. Through GrabCare, 15,000 Driver-partners agreed to transport medical personnel to and from hospitals. enabling economic continuity, preserving livelihoods, and because of this, small and medium-sized businesses were able to go online and expand their markets and profits. maintained its expanding network of driver partners and put more of an emphasis on the delivery sector. During the epidemic, it also supported restaurant demand. They also wanted to assist frontline employees and GrabRewards was able to generate 5.9 million through our collaboration with the Philippines Red Cross to give healthcare personnel personal protective equipment (PPE).

When it comes promoting rural businesses’ empowerment via digitization, Grab and the Department of Agriculture (DA) collaborated to make it possible for Metro Manila residents to order fresh vegetables and meats through the DA’s eKadiwa website and have them delivered by GrabExpress, helping local farmers and agribusiness owners. Planet: For future generations, we must lessen our environmental impact is collaborating with business partners to eliminate wasteful single-use plastic usage in the food delivery industry, starting with packaging and cutlery.

For Grabdriver-partners, Grab has evolved into a reliable source of revenue. Grab Misiskolar assisted the spouses of Grab driver-partners in developing the skills necessary to complement their husbands’ incomes while remaining comfortable in their own homes. GrabFood assisted small and medium-sized businesses (SMEs) in growing their clientele, exposure, and revenue. Currently, the Grab platform provides employment possibilities to over 700 persons with disabilities, such as deafness, cerebral palsy, or motor impairments. Through the SaferEverydayTech Roadmap, Grab also guarantees consumers’ safety while traveling. Grab’s numerous transportation options provide commuters more alternatives to get about without a car and complement the public transportation system. Passengers benefit from lower rates, driver-partners make more money, and the environment also gains from Grab’s many shared transportation choices (GrabHitch, GrabShare, and GrabShuttle). By enhancing traffic signal timings, traffic authorities might reduce congestion patterns on roadways. City planners could also make better choices over where to construct road infrastructure. To assist them in growing their enterprises, Grab enabled 1.7 million Grab micro-entrepreneurs obtain their very first bank account.

In addition, 15% of Grab driver partners in Southeast Asia receive free healthcare, life, motor, or prolonged medical leave insurance from Grab. Grab’s Group Personal Accident Insurance covers all driver partners and passengers for accidental death, permanent disability, and medical expenses. Grab customers may use GrabPay to pay for rides, in-store purchases, delivery, and even peer-to-peer financial transfers. GrabPay acts as a convenient, dependable, and secure alternative to cash transactions. They also have access to tracking their purchases and earning GrabRewards points, which can be redeemed for a variety of alluring incentives. Millions of Grab consumers have a simple opportunity to support charities and relief efforts for their fellow Southeast Asians through GrabRewards. Provided a sustainable means of living during the pandemic with the app. The donations assisted in supporting the frontlines.

In Concusion

Up to this point, Grab Holdings INC. has actively participated and carried out its CSR obligations. Their yearly reports now provide useful information on how they assisted their Southeast Asian target population. Their aim is to “drive Southeast Asia forward by elevating the quality of life for everyone,” which is supported by the measures they have made. You were able to witness how they operated in a business by observing how Grab Holdings was able to make such a positive influence on society. Grab has considered more than simply their own financial success such as those slot games in, considering how they might influence others and utilize their company as a platform to do so. We discovered that we can utilize our businesses to promote causes that will benefit society.

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