Harmful Impacts of Using Mobile for Business Transactions Assignment

Added on - 05 Oct 2020

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HARMFUL IMPACTS OFUSING MOBILE FORBUSINESSTRANSACTIONS
TABLE OF CONTENTSINTRODUCTION..........................................................................................................................1Background of the study........................................................................................................1Aim and objectives of investigation.......................................................................................1Rationale of the study.............................................................................................................2Timeline..................................................................................................................................3METHODOLOGY.........................................................................................................................3Results / Findings..................................................................................................................5Descriptive Analysis.............................................................................................................14RECOMMENDATIONS..............................................................................................................15REFLECTION...............................................................................................................................15
Research proposalTopic:implications of mobile payment technology for UK Small business,A focus on thedark sideIntroductionResearch is defined as the systematic investigation conduct on the specific topic in orderto set facts and reach new conclusions. The objectives of the research is to discover and interpretfacts, application of theories or facts with the intention to reach appropriate solutions.In present scenario, emergence of digital and other technology as well as mobilesapplication or software has bought the big change in business practices. It has also improved theways' payment were big made by the Customer to shopkeepers. Evolution of internet or onlinebanking has provided an organization to provide additional facilities of making digital paymenttransfer to customers. Besides the several advantages there are some disadvantages of doing thetransactions through mobile phones is that hackers can easily hack the account of users and caneasily conduct crime. In continuous and dynamic small business organisation such as TalonOutdoor are often perplexed in the middle of identifying the way to keep adopt the system ofreceiving and making payment. As it is very difficult as well as critical task to make decisionrelated to the using mobile application as the method of making or receiving the payment. Asthere is high risk involved in facilitating business transaction using mobiles phones.Background of the studyIt has been identified from the investigation that Zimbabwe was the country in which themobile was first used for transferring money. There were the three companies such as Net one,Tele cell and Eco net Wireless who were providing mobile network services. The objectives ofmobile money transfer services is to assist small business enterprises in minimising the cost ofmaking payment over a long distance. There are several types of risk involved with the acceptingor receiving payments through mobile applications. Some threats are Compliance is one of thebiggest issues especially for the small medium enterprise like Talon Outdoor. High chances offrauds related to the accepting payment through mobile applications. It has provided criminal anopportunity to conduct crime. There are high chances of this type of rise in situation when anindividual or customers use public Wi-Fi , weak passwords and when mobile phone is lost.There is great requirement of development in the companies who makes mobileapplication. Business owner of the small medium enterprise is required to consider several risk1
factor before planning to implement specific technology for receiving and making payments thisstrategy will aid firm in eliminating short or long term financial loss.By dark side of utilising themobile payment an individual mean the disadvantage of using the mobile application as well assoftware for making payment. A scholar want to provide detail about the risk associated withusage of mobile applications for making commercial transaction.Research aims and ObjectivesAim -TO develop the understanding aboutimplications of mobile payment technology for UKSmall business,A focus on the dark sideObjectives :To understand the concept of mobile payment in context of small medium enterprise.To analyse the risk associated with use of mobile for receiving and making payment.To measure the level of utilization of mobile money transfer services by small mediumenterprise in their financial transactionsTo suggest strategies which can be adopted the small medium enterprises for improvingthe payment services.Research questionsWhat do you understand the concept of mobile payment and its use by small mediumenterprise?What are the risk associated with doing the transaction using mobile application orsoftware?What are the counter impact of mobile money transfers in context of small mediumenterprises?What are the other techniques or methods for improving the financial transaction bysmall medium enterprises?What are the dark side of using the mobile devices for making commercial transactions.Rational of selecting the specific topic for conducting the researchThere are several factors which has encouraged scholar to facilitate the research on theparticular subject matters. One of the important variable is less use of mobile devises for makingthe business transaction. The another important reason in increase in fraud related to financialtransaction and growth of the mobile banking application. Investigator interest in exploring oridentifying the factors which influence mobile money transfer usage by the small and medium2
business enterprises. Researcher is also eager for analysing the dark side of the implication ofmobile payment technology for UK Small business. The major rationale behind the conductingthe investigation on specific topic is to develop the understanding about the dark sites of usingthe mobile application for commercial transaction.2. Literature reviewBusiness practices in UK have undergone drastic changes, one of the leading change wasemergence of the information communication technology. Mobile phones have broughttechnology that has made great as well as significant effect on several business enterprises.There are some evidence in several fields of an organisation which include advertisement,launch of new product , marketing and the payment of bill. As to the authorAchtenhagen, Melinand Naldi, (2013).use of mobile technology has direct as well as significant impsact on thefinancial performance of small medium enterprises. According to the opinion ofGiesen,Riddleberger and Bell, (2010)the telecommunications' industry worldwide has scrambled toavailability to networked computers to mobile devices. As per the viewBrown, (2013)of there isextremely high utilisation of electronic or mobile making services. According to the thinking ofGiesen, E., Riddleberger, E. and Bell, R., (2010) mobile money transfer services also come withtheir own counter effects which make small medium enterprises to be in a position not to bewilling to make utilization of these services. Few of the unfavourable consequences come in theform of charges which are charged by network providers to those who will be conductingfinancial transaction using mobile devices. The another issue related to the use of mobileapplication for making payment is that there might be delay in payment which may lead to theconflicts between the two parties which also have adverse negative impact on the reputation ofcompany. Delay in payments mights have adverse influence on the professional relationshipbetween two parties. As per the view ofCrawford, and Nahmias, (2010) the major riskassociated with implication of mobile phones for making business transaction include security,effort required, and immediateeffectson mood emerged as crucial influences.According to the thinking ofTaylor, S.J., Bogdan, R. and DeVault, M., (2015).Themajor advantages of utilising mobile payment app is that it provides ease in facilitatingtransaction. By utilising mobile application firm can allow the on line payment facilities toclients. Mobile payment is a secure way to pay.3
According to the perception ofAchtenhagen, L., Melin, L. and Naldi, L., (2013)themajor cons of using the mobile payment application is that most of the old and low-endsmartphones have some compatibility issues. In addition to this For accepting payments throughmobile devices require some POS hardware which are costly.Qualitative and quantitative researchQuantitative research methods assists investigator in resolving problems using statisticaldata or numbers. In this method of data collection scholar have focus on gathering numericalfigures. Qualitative research methods supports investigator in making suitable decision. In thisresearch method researcher emphasizes on accumulating qualitative facts. As the present is ontopic implication ofmobile payment technology for UK Small business, scholar will usecombination of both method for data collection.Research methodologiesThe current investigation is related to theimplications of mobile payment technology forUK Small business,A focus on the dark side. Investigator in order to collect data or informationhas used several methodsof the research methodologies in order to produce desired results oraccomplish objectives (Taylor Bogdan and DeVault,2015)There are following research methodologies will be used by the investigator these are:Investigation approach:Research approaches:The research approaches supports scholar in reaching to the conclusion.By applying the several concepts , theories and models, investigator can easily make appropriatejudgement. Inductive as well as deductive are the two types of research approaches which can beused by researcher for conducting research and reaching to the appropriate solution.In presentinvestigation , scholar will use inductive method with qualitative approach which will assistsresearcher in preparing questionnaire.This approach has been selected as information in theinvestigation is based on the information collected through using questionnaire (Robson andMcCartan,2016)Research philosophy-It assists scholar in developing the understanding about the topic of theinvestigation. Two main Research philosophies are interpretive as well as positivism. I n presentresearch,researcher will use positivism research philosophies for achieving the desiredobjectives.4
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