Lyft

Definition

Lyft is a ride-sharing company that connects passengers with drivers via a mobile app, offering an alternative to traditional taxi services and personal vehicle use. It operates on a flexible organizational structure to adapt quickly to changes in market demand and regulatory environments.

Related terms

Gig economy: A labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

Flexible organizational structure: An organizational design that lacks a rigid hierarchy, allowing companies to adapt quickly to changes.

Ride: sharing - The sharing of car journeys so that more than one person travels in a car, designed to reduce vehicle trips, traffic congestion, and automobile emissions