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Brief Discussion of Business Entrepreneurship

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Added on  2020-05-04

Brief Discussion of Business Entrepreneurship

   Added on 2020-05-04

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Running head:BUSINESS ENTREPRENEURBusiness EntrepreneurUniversity NameStudent NameAuthors’ Note
Brief Discussion of Business Entrepreneurship_1
2BUSINESS ENTREPRENEURIntroduction to the entrepreneurial opportunity and idea and value propositionBrief discussion of the uniqueness and creativity of the idea Entrepreneurial opportunity is said to be available in the mobile payment solutions. Mobilesystems can be said to be an innovative business solution as this is necessarily transformingthe entire payment environment. As per the investment bank namely Barclays Capital,particularly mobile commerce sales that is necessarily purchases of mainly smart phones aswell as tablets is registered to be $5.3 billion during the year 2011, increased 83% ascompared to the year ago period (Ayala and Manzano 2014). Reports reveal that as commerce is transforming to mobile, consequently the payments is alsoexpected to change. Essentially, the volume of particularly the mobile money transactions isanticipated to reach the level of around US$ 780 by the year 2017 internationally. In additionto this, over and above 85% of point of sale processes are anticipated to accept/receivecontactless system of payment during the year 2016. In essence, the overall growth inpayments is observed to make a significant alteration in the entire payment infrastructure inUK. Antonio et al. (2014) asserts that there has been a combination of interests of diversestakeholders that has generated an enabling environment for the overall development ofparticularly mobile payments. Particularly, a lot is occurring in the space of mobile payments.However, there is a clear requirement for a unified approach among different stakeholdersthat include regulators, telecom operators, banks as well as other payment corporations- thatare developing platforms independently. Again, a consistent as well as interoperable processcan be considered as a necessity for particularly multi-stakeholder system (Cassar 2014). Mobile payment system for urban transit:-Mobile is also considered as the preferred systemof payment for urban transit. Primarily, cases such as bus ticketing, collection at toll and
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3BUSINESS ENTREPRENEURmetro transit can also mobile payment system. Diverse commuters also prefer mobilepayment system for transactions in a faultless manner. Thus, this can be considered as asignificant area of development for particularly mobile payment solutions. This sectionessentially has the necessity to work collaboratively with businesses delivering mobilepayment services and the banks as well as other civic bodies (Qureshi et al. 2016). Mobile payment solutions are also expected to provide seamless experience of payment(Pessu 2015). Again, this entrepreneurial opportunity of mobile payment system can prove tobe cost effective and simply scalable. Mobile based mobile of payment have the necessity todevelop that in turn can decrease hardware as well as cost of service to nearly zero. This candevelop the entire process for the purpose of supporting the self-onboarding by diversemerchants to lessen the costs and discover alternating streams of revenue rather thanfocussing on business transaction. Furthermore, a common mobile payment infrastructurebenefits the entire industry. In addition to this, mobile payments by specific industry helpedby payment bodies can assist in expanding the market and increasing adoption (Moyes et al.2015). Value proposition refers to exclusive advantages of the products/services that are delivered toall the customers. In this case the idea of introducing the business of mobile payment solutioncan be said to be a unique idea that is born out of passion, expertise as well as observations ofthe entire world. (Vandor and Franke 2016). As rightly indicated by Carlos Pinho andSampaio de Sá (2014), mobile can assist in exchange of specific information together withbusiness transactions and can help in secured payments. Formerly different small businessesfunctioning at remote locations namely farmers’ market or else food truck were unable toreceive credit card system of payment. These kind of cash only businesses also declined salesas customers without adequate cash on hand were not capable to purchase theirproducts/services. Therefore, a cash only business can essentially help in receiving payments
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4BUSINESS ENTREPRENEURby means of different mobile payment programs increasing the overall base of the customersand increasing sales of the company (Wong 2016). Critical presentation of two different entrepreneurial themes The theme of the entrepreneurship is to understand the manner entrepreneurship is related toinnovation. This involves understanding the way entrepreneurs address diverse needs or elsewants of the markets by way of recognizing missing supply along with the demand. Again,another important theme of entrepreneurship understands the manner with which it is possibleto connect an identified idea with specific opportunity. Fundamentally, the themes ofentrepreneurship involve understanding the processes along with market specificity (Sahutand Peris-Ortiz 2014). Processes: Dahlberg et al. (2015) asserts that the entrepreneurial theme of understandingprocesses refers to comprehension of the way the innovative business operation might help inbringing about diverse economic as well as social advantages in diverse businessenvironments and corporations.In this case, the new business idea of providing mobile payment solution is expected to bringabout certain economic benefits. A report presented by the Centre for Economic and Businessresearch asserts that adoption of mobile payment system by consumers is expected to result ina wide array of economic advantages. Fundamentally, it is expected to lessen fraud, lower theoverall costs of transaction and in general lead to a wide array of economic advantages. Essentially, a study presented from the Centre for Economic Business Research that wasparticularly commissioned by a provider of mobile payment solution named Zapp, forecastedthat around 20 million adults is expected to utilize their mobiles to make payments fordifferent goods and services by the closing this decade. Particularly, the overall value of the
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