Opportunity Innovation and Entrepreneurship

This report discusses the role of innovation and entrepreneurship in business, focusing on the success of entrepreneur Guillaume Pousaz and his company Checkout.com. It explores the importance of data analysis and its relation to theory. The report also highlights the strategies and planning that have made Checkout.com a leading payment processing company.

Opportunity Innovation and
Entrepreneurship

Contents
INTRODUCTION...............................................................................................................................3
MAIN BODY.......................................................................................................................................3
Identify and select an entrepreneur....................................................................................................3
Gather profile of entrepreneur...........................................................................................................4
Analyse data......................................................................................................................................5
Relate to theory.................................................................................................................................6
CONCLUSION....................................................................................................................................6
REFERENCES....................................................................................................................................8

INTRODUCTION
Entrepreneurship is the act of generating new or rising core business. Business people
are essential to this action: creative and risk-taking individuals who seek to bring about
change and new opportunities, both for themselves and for the business community in which
it operates. Innovation and entrepreneurship are becoming progressively important in many
aspects of business. Entrepreneurial activity start-ups energize the industry by discovering
new possibilities and reallocating funds to it. Established companies are investing in
technology in order to incapacitate or adapt to their competitiveness (Turner and Pennington,
2015). The entrepreneurship considers the basics of innovation, creative problem-solving
systems and policies for designing, organizing and introducing a new business, such as the
aspect of intellectual property, market evaluation, the creation of innovative business models,
budgeting and increasing finance. Current report is discussed about a successful entrepreneur
i.e. Guillaume Pousaz, he is famous and also owed their organization that is known by
Checkout.com which is a future successful baking for business with the aim of providing
payment system and idea to people in order to improve its performance at market place.
Along with this, theory related to the innovation and entrepreneurship is also mentioned in
this project that helped in determining the opportunities to attain success.
MAIN BODY
Identify and select an entrepreneur
Checkout.com, is said to be the future of the banking for business. company was
founded by “Guillaume Pousaz” in the year 2012. He started this business with a purpose of
providing best-in-class services and solutions to other businesses. Previously, because of the
complex methods of payment the idea of streamlining the process of payment came into the
mind of the owner of Guillaume Pousaz. With the help of proprietary technology company
tried to eliminated the various points of failure and moreover, increase the reliability.
Therefore, it provides with an option of data transparency for different merchants to whom
they are providing their services and facilities. In current times, company is having partners
from different parts of the world like Samsung, Getty Images etc., Checkout.com has a
tendency of operating in 150 currencies and provides with easy payment methods which
means they accept all the major cards used at international level (Shepherd, Mcmullen and
Ocasio, 2017). Checkout.com, has more than around 650 employees at 10 international
offices across the globe. According to their mission, they are on a path of changing the future
of banking and its process which means making the same easier and convenient. As their

prime service is “ACE Money Transfer” with the help of this, people can easily transfer their
money quickly and in a more secured manner. Along with this, company’s key priority is to
look after the frauds and managing the same. Basically, they make customers aware about the
fraudulent activities if there are any. Therefore, with the help of its services company wants
to become an innovative financial institution amongst the other organisations.
Gather profile of entrepreneur
Checkout.com, has established themselves as a payment processing company and influenced
big companies like Samsung, Alibaba, Virgin and many more with its services and facilities.
With the transaction speed of over 200 milliseconds company offers “one stop shopping” in
around 150 currencies to its customers. With the change in course of time and the processes
used to be taken in transaction process, the owner of the company Guillaume Pousaz though
providing such services through which the future of banking can be transformed. Company is
holding a legacy of technology because even 50 years before the transaction process was
going on but what made them different is doing the same transaction in QuickTime i.e. within
400 milliseconds (Kakapour and et. al., 2016). Thus, they identified importance of time and
speed and therefore, take this as an opportunity an founded their new business.
While talking about how he started this business it has a very interesting story with
many ups and downs. Guillaume Pousaz, learnt his first lesson while working with
NetMerchant, there he learnt about managing teams and how align philosophy plays a crucial
role in performing activities. Later, with the crave of doing things out of the box in the year
2009, with a little amount of money he started up his new business in Singapore named
“Opus Payments” because things were changing and people were wanting that money
transaction process should be secured and easier. Therefore, Guillaume Pousaz thought of
opening this business. As a result, it enabled his company in processing payments in Hong
Kong. From different buyers around the world. Later on, the same company re-launched itself
with a new name “checkout.com” in the year 2012. Even before launching his new company
Opus Payment, Guillaume Pousaz, in the year 2009 purchased a Mauritius based company
named as SMS Pay. Their main task was to look for new payment gateways and building the
same so that the entire process of transaction can be conducted in smooth manner
(Carayannis, Samara and Bakouros, 2015).
Managing his business i.e. Opus Payments was very difficult because the company
was not that much popular and later in the year 2012 when company sign a deal with

Dealextreme which was basically a Chinese websites which mainly sells a huge amount of
gadgets to people living across the world but instead of gaining profits company faced a huge
losses. In the year 2012, “Financial Conduct Authority” approve Checkout.com as a legal
financial industry in United Kingdom. Thus, regulatory body granted the company with
“principal membership to Visa and MasterCard” in the year 2013. According to Guillaume
Pousaz, it was a life changing moment and turned out to be a life-defining step for the
Checkout.com.
Growing with the years, Checkout.com has established itself as a payment value chain
because no company unlike this has a proper control over Merchant and Visa or MasterCard.
They are changing as per the requirement and grabbing all the opportunities present in the
market area. Company is happy in providing B2B services to its clients rather than becoming
a consumer facing company like PayPal. Therefore, according to the viewpoint of Guillaume
Pousaz, their company is building a future for its client in the field of sending and receiving
money (Kuckertz, Berger and Allmendinger, 2015). Henceforth, as a future plan, company
wants to take a larger share in its client’s wallet in order to improve the customer base around
the world. Thus, the company is looking for much bigger opportunities so as to gain
maximum benefits from the market area.
All the strategies and planning has paid off because company who were operating
their transaction through Checkout.com were happy with its processes and services provided.
Company was having around 99% of its retention rate which is excellent as compared to
other companies working in the same field.
Analyse data
Advancement enables organizations to stay viable to the competitive industry and also
starts playing an important role in economic development. The tool to overcome significant
issues focuses on different advancements, and developing countries in particular need more
than ever. Businesses are increasingly embracing the concept of innovation in their day-to-
day processes and for an excellent reason. Companies need to keep innovating if they want to
maintain a competitive edge and achieve success. Advancement is also good to move beyond
uncertainty and to improve your market strategies (Guo, Tang, Su and Katz, 2017). It is
significant to observe that various industry leaders understand the true meaning of
advancement different ways. They are used in long discussions on the most practical
deployment of technological innovation. Since innovation has an effect on so many different

aspects of our society, it would be almost difficult to get through all in one article.
Entrepreneurs participate in various of workshops, increasingly recognizing and pitching
workshops to scale or industry their business. A critical feature of the investments is to seek
and obtain funding from investors.
Relate to theory
Entrepreneurship is going to bring innovative solutions to old human issues,
entrepreneurial is providing jobs for qualified professionals, entrepreneurial activity is
increasing market demand, it brings rivalry to make progress-quality products and services, it
is a revenue generator for government and affects the management style of society
(Kohlbacher, Herstatt and Levsen, 2015). Apart from this, Innovation benefit theory claims
that the key role of an entrepreneur is to implement inventions and to earn profits in the form
of incentives for their success.
As per theory of Schumpeter, Innovation has led to any new strategy that the
businessman undergoes to lower the cost of production or to increase the market for its
goods. The first section involves all activities which result in reduction of production, such as
the addition of a new system or manufacturing technique, the implementation of new
machinery, creative methods for managing the business, etc.
The second group of creativity involves all the activities which enhance the value of a
product. Including the announcement of a new consumer good or new quality products, the
beginnings or opening of a new market, the creation of new sources of raw material, a new
brand or product development and many more.
The innovation strategy of profit implies that an investor acquires revenue if his new
technology is productive either in reducing the costs of development or in creating a market
for their product. Usually, gains are created for a shorter amount of time, when competitors
copy creativity, therefore facilitating advancement to be unique or innovative.
An entrepreneur may make greater profits for a longer period of time if the law allows him to
patent his innovation (Fellnhofer, 2017). The design of a product is patented to discourage
others from imitating it. Through time, the availability of influences maintaining a certain
keep increasing the decision process as a part of which the cost of output is also growing.

CONCLUSION
As per discussed report it can be evaluated that, innovation is play a crucial role in
established a new business in market place with the aim of generating larger profitability
level at market place. In this regard, entrepreneur is a one who have skills and ability to
generate innovative ideas for establishing their business. Along with this, they are also able in
taking risk and ready to convert into larger profitability level. Thus, it is crucial for
entrepreneur to analyse market trends before operating their new business in wider market
place. It may provide huge opportunities to business men to establishing their competitive
and famous brand image at market place. This is the reason that entrepreneur needs to
determine as well as identify the new and alternatives ways so that they can easily capture
larger market share from its competitors.

REFERENCES
Books and Journals
Turner, T. and Pennington, W. W., 2015. Organizational networks and the process of
corporate entrepreneurship: how the motivation, opportunity, and ability to act affect firm
knowledge, learning, and innovation. Small Business Economics. 45(2). pp.447-463.
Shepherd, D. A., Mcmullen, J. S. and Ocasio, W., 2017. Is that an opportunity? An
attention model of top managers' opportunity beliefs for strategic action. Strategic
Management Journal. 38(3). pp.626-644.
Kakapour, S. and et. al., 2016. Antecedents of corporate entrepreneurship in Iran: the
role of strategic orientation and opportunity recognition. Journal of Small Business &
Entrepreneurship. 28(3). pp.251-266.
Carayannis, E. G., Samara, E. T. and Bakouros, Y. L., 2015. Innovation and
entrepreneurship: theory, policy and practice. Springer.
Kuckertz, A., Berger, E. S. and Allmendinger, M., 2015. What drives
entrepreneurship? A configurational analysis of the determinants of entrepreneurship in
innovation-driven economies. A Configurational Analysis of the Determinants of
Entrepreneurship in Innovation-Driven Economies. pp.273-288.
Guo, H., Tang, J., Su, Z. and Katz, J.A., 2017. Opportunity recognition and SME
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pp.431-442.
Kohlbacher, F., Herstatt, C. and Levsen, N., 2015. Golden opportunities for silver
innovation: how demographic changes give rise to entrepreneurial opportunities to meet the
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Fellnhofer, K., 2017. Drivers of innovation success in sustainable businesses. Journal
of Cleaner Production. 167. pp.1534-1545.
Fairlie, R. W. and Fossen, F. M., 2018. Opportunity versus necessity
entrepreneurship: Two components of business creation.
Wei, L. and Wei, Y., 2016, December. Information system construction and statistical
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Intelligent Transportation, Big Data & Smart City (ICITBS) (pp. 443-447). IEEE.
Omer Attali, M. and Yemini, M., 2017. Initiating consensus: Stakeholders define
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