Frugal Innovation business plan – Mobile Banking
Subject: Business / General Business
A “Frugal Innovation business plan” introducing “Mobile Banking” as a frugal innovation in Indonesia as an “Emerging Market”.
In this paper, the following information is required:
Mobile Banking Frugal Innovation:
1. Describe the idea of “Mobile Banking” as a frugal innovation that could be introduced by a bank such as Standard Chartered. (Approx. 150 words).
2. Describe how “Mobile Banking” fits into the definition of ‘frugal innovation’. (Approx. 150 words).
Targeted Emerging Market:
2. Explain how does “Indonesia” as an emerging market will be a good country to introduce such innovation “Mobile Banking”. (Approx. 150 words).
4. Explain how does “Indonesia” fit in the criteria as an emerging market and give a brief analysis of Egypt’s market patterns. (Approx. 150 words).
Target Market Description:
5. Come up with a clear, concise “vision statement” and outline the parameters of mobile banking frugal innovation. (Approx. 250 words).
6. Describe the characteristics of the business environment in “Indonesia” as an emerging market. (Approx. 300 words).
7. Explain what political and cultural considerations will more affect the success or failure of mobile banking frugal innovation business? (Approx. 250 words).
8. Explain the economic environment of this emerging market “Indonesia” and how does it help or hinder the business model? (Approx. 300 words).
Risks and plans for risk mitigation:
9. Analyse any potential institutional voids; and explain if these voids will create opportunities or hindrances for mobile banking frugal innovation. (Approx. 250 words).
10. Analyse expected risks and explain how you might manage unexpected risks as they arise. (Approx. 250 words).
* The total word count in the paper should be approximately 2,200 words (excluding references and headlines)
* Please add references for the material used in writing this paper (a minimum of 15 different references quality academic and professional articles and papers, and links to websites and other sources are required).