Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services Description
Mr. Rao, with several years of banking experience, approached People's Group Dubai, a venture capitalist firm, seeking financing for a micro-remittance-cum-foreign exchange service operation in Hong Kong. He argued that demand for currency exchange services in Hong Kong would continue to grow because of the high number of tourists who visited Hong Kong on their China tour. He also argued that a captive market of domestic workers who remitted their wages to their home countries would provide continuous demand for remittance services. Mr. Rao was confident that he could start quickly with a small office staffed by a few tellers and one manager in a busy location of Hong Kong, and then expand operations to other locations. However, financing to cover fixed assets and working capital would be required to open additional outlets. A major enabler of the proposed strategy was the telecommunication network of Western Union, which had established a presence in several parts of the world as a trustworthy provider of remittance services. Mr. Rao also intended to benefit from the technology support and expertise of the IT arm of People's Group based in Bangalore, India. People's Group Dubai welcomed realistic entrepreneurial ideas if they were backed by clear strategies for business growth and promised an acceptable rate of return on investment (ROI). With competition and low-cost micro-remittance services provided by pure Internet players, there were questions about the adequacy of technology support from the Bangalore arm in steering Mr. Rao's proposed venture to success and generating adequate ROI in the short and long run. People's Group directors debated the viability of the proposed venture.
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Case Analysis of Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services is a Harvard Business (HBR) Case Study on Technology & Operations , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Case Study Solutions Background Work
Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
case study solution
is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Technology & Operations, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services, is to not only build a competitive position of the organization but also to sustain it over a period of time.
Strategic Management Tools Used in Case Study Solution
The Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
Texas Business School Approach to Technology & Operations Solutions
In the Texas Business School, Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Step 1 – Problem Identification of Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services - Harvard Business School Case Study
The first step to solve HBR Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Remittance People's is facing right now. Even though the problem statement is essentially – “Technology & Operations” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Remittance People's, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Step 2 – External Environment Analysis
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services.
The external environment analysis of Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
What is PESTEL Analysis? Briefly Explained
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study. PESTEL analysis of " Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services macro-environment and how it impacts the businesses of the firm.
How to do PESTEL Analysis for Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
To do comprehensive PESTEL analysis of case study – Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services , we have researched numerous components under the six factors of PESTEL analysis.
Political Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Policy Making Impact on Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Government policies have significant impact on the business environment of any country. The firm in “ Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Remittance People's is operating, firms are required to store customer data within the premises of the country. Remittance People's needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Remittance People's in case study Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services" should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Remittance People's in case study “ Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Remittance People's in case study “ Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Taxation & Regulation Impact on Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Remittance People's can compete against other competitors.
Government Scheme & Subsidies Impact on Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System & Stability, and its Impact on Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Remittance People's needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
Economic Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Social Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Technological Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Environmental Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Legal Factors that Impact Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services
Step 3 – Industry Specific Analysis
What is Porter Five Forces Analysis
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services case study. PESTEL analysis of " Entrepreneurship and IT Complementarity: The Case of People's Remittance and Exchange Services" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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