Entrepreneurship, Enterprise and Innovation: Bio-metric Transaction System for Banking Industry

This presentation discusses the new product/service for banking industry, attracting potential funders, characteristics of a successful entrepreneur, SWOT and Pest Analysis, business start up execution, theories or model of entrepreneurship, enterprise and innovation.

Entrepreneurship, Enterprise and
Innovation

Table of Content
 INTRODUCTION
 About the new product/service for banking industry
 Discussing attracting potential funder for the new product/service.
 Discussing the characteristic of a successful entrepreneur
 Swot And Pest Analysis.
 Business start up execution.
 Theories or Model of Entrepreneur.
 CONCLUSION
 REFERNCES

INTRODUCTION
 An entrepreneurship is the ability take initiative to develop,
organize and operate business enterprises long with the uncertainty of
profits and losses.
 The entrepreneur are the one who possess the ability and desire to
establish, administer and succeed in running a business in order to
take on the risk of failure along with the opportunity to generate high
profits.

About the new product/service for banking industry.
 The idea and service of Bio-metric transaction system
for banking is an innovative and futuristic idea which
will revolutionize the banking industry.
 The use of Bio-metric technology to conduct bank
transactions will allow for high efficiency and accurate
in banking operations relative to both the banking
companies and the customer.

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 Advantages:
 It wills enhance the level of security for
both the banking industry and their
customers.
 The Bio-metric system will help in
improving the speed of transaction and
eliminate connective delays.

Discussing attracting potential funder for the new
product/service
 It is vital for entrepreneur to have reliable and strong funders to provide
them with financial resources and an optimal network to launch new
products and services in the market.
 The funders insure that the new product or service is introduced to the
market in an effective manner to attract attention from a large customer
base. Given below are ways to attract potential funders for the Bio-metric
transaction system:
 Online fundraiser:
 In the modern-era, internet plays a crucial role for an
entrepreneur as it allows them to raise funds through online fundraisers.

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 Events:
 The introduction of new products and
services at entrepreneurship events work as an great
opportunity for entrepreneurs to introduces their
invention to the world.
 In context to Bio-metric transaction service,
introducing it at a major event will ensure attracting
vast number of funders to fund the project.

 There are various characteristic that are possessed by an
successful entrepreneur which enable them to develop
innovative and creative products and services. These
characteristics enable them to be able to solve complex situation
and tasks. Given below are my characteristic as an entrepreneur:
 Curiosity:
 I have the characteristic of being curious which makes me want
to explore new ventures in order to invest and develop new
products and services which can impact the society in a positive
manner.
Discussing the characteristic of a successful entrepreneur.

SWOT Analysis
Strengths (Internal)
 Strengths of entrepreneurship culture can be determined by its benefits to
the economy.
 Its works regarding development of creativity.
 New business, innovation in technology.
 New products, new services, and employment generation for the future
entrepreneurs.
 It also helps in rising national income, standard of living.
 Balanced regional growth, dispersal of economic power.
 Enhancing welfare in society.
Weaknesses (Internal)
 Differences in cultures, norms and their behaviour towards
society.
 There is no alternative for complex procedures.
 It could give all the knowledge and fulfil all the qualities that
are required by an entrepreneur.
 They cannot provide expertise and experience which comes
from regular application and practice.
 It does not guarantee success in its work.
 Morale and commitments by individual are their decision that
cannot be influenced.
Opportunities
(external)
 As more and more people want to prosper in their businesses chances for
expansion arise.
 Opportunities arise more and more in the entrepreneurship culture due to
new comers.
 The people do not have complete faith as it does not provide guaranteed
success that reduces the chances of future benefits.
Threats
(External)
 High finances to engage here is causing decline of people’s faith
in them.
 In a fact continuous cash investments lead to cash-drainage.
 Risks related to start-ups along with its consequences.
 Not recognises which may cause consistent decline in its worth.
 Person faces problems and owning a business and smooth flow.

Pest Analysis
PEST Analysis: Entrepreneurial culture
Political:
 This factor plays a very vital role in developing entrepreneurship in
an open geographical region.
 As political factors are among the key runners and influencers of a
market in any region and every economy have a political influence.
 Capitalistic economy provides opportunities for growth of
entrepreneurship culture if there is some other political situation
variants arise.
 It is widely depended on the laws and regulations’ prevailing in a
market as these laws affects entrepreneurial actions.
Economic factors:
 The economic factors bring a major twist in working and
growth of a entrepreneurial culture so it must be well
feasible by the industry.
 Therefore if the economic factors are in favour and
supports development off entrepreneurs then they may
prosper effectively or vice versa.
 The entrepreneurs are dependent on courts for their
compliances, registration of firm, copyright, FEMA,
goods and services, property protection, etc. which helps
in achieving global market.
 General taxes and overseas trade and quota barriers
affects it.
Social factors:
 The entrepreneurial culture is based on the social values such as
culture, education, morale, ethics, caste and community.
 Therefore to develop a positive image in society social factors must
be clear and well known while developing entrepreneurial culture.
 Health of environment is also a major issue which should be
focused to keep in a good position.
Technological factors:
 Technology is essence of advancement and faster growth,
without the technology growth will happen but the pace
may be very low.
 If the availability of technical assets and equipment are
supportive entrepreneurship culture could be widely
accessed and developed at various places.
 Due to technological advancements the environment is
least impacted.

Identify the process of business start up from
conception execution.
 The new product which has plan to introduced as banking services related
called Biometric transication for customer convience to provide them
financial services. as there are some process which better determines to
implement productive start up business effectively. there are four important
steps that highlight about to generate business.
 Start With business idea: This is a first step which rectify better business
idea how to start business is to identify about problem of solutions. Similarly
for banking business Biometric transaction is one of innovative idea.
 Make a business plan: Once the business idea generate then start with
planning to execute by implement new strategies and impact on business to
execute positive outcomes.

Theories or model of entrepreneurship, enterprise
and innovation
 By using the relevant model of entrepreneurship model to
explain about the new product banking services related.
The new concept Biometric Transication which enables to
generate more business opportunity that help to gain more
competitive advantages. In following there are four main
parts which explain to gain more development of business:
 The opportunist: This model would work on trusting
corporate business culture which open to experimentation
and that have diverse social network official hierarchy. If
the entrepreneur would not positive environment then it
would be difficult to generate ideas.

CONCLUSION
From above presentation summarized about new banking product which make positive impact
on economy effectively. The topics highlighted the findings on discussed about new product of
banking sector Biometric transication which makes easy for those people who are not
technology friendly. Further also described about Swot and Pest Analysis to generated the
information about external and internal environment. At last described about start process and
model of entrepreneur to business expansion.

RFERENCES
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Entrepreneurship and Management Journal, 8(4). pp.411-420.
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California State University, Northridge).
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