The paper "Innovative Management: International Mobile Money Transfer" is a great example of management coursework. The concept of money has existed from time immemorial; this has been influenced by the availability of trade and consumption. However, among the most important elements of consumption and trade has been the ability to transfer money from one geographical region to another. Many methods have since been introduced to enable this service to be in existence, Method such as the use of postal services. Money transfer by transportation services has altogether been used. However, these methods lacked one crucial element in their service, the element of time and most importantly the element of urgency. With the innovation of communication systems and consider the mobile communication system, there has been a loud calling by the subscribers for the introduction of mobile money transfer systems that will comprehend the communication part of the mobile system.
Researchers have so far been able to create this system but an element has continuously eloped from their ability to innovate. This element was the ability to safely transfer funds from a very large geographical area to another.
Giving an example was the ability to transfer money from one continent to another. This project will elaborate more on the issues that have made it difficult for this innovative idea to be invented and how we have a deal with them to create this innovation. Context of the Project This project is undertaken in the normal setting of the community. The presence of trade, communication and transaction influence this project. The present need by the community to transfer money from one geographical area to the next has further warranted this research.
The condition is to the normal day to day operations of the masses of Australia. Motivation The motivation towards the invention of this system was the need for a system that can allow users and other parties to transfer money from continents to people in different communication Subscriber Identity Modules (SIM). Additionally, it was influenced by the need for a money transfer service that was quick, easy to use, that was safe and that was convenient and has affordable prices to the common individual. Speed-In that it has an ability to transfer money in a matter of minutes, considerably in a period less than 5 minutes across a large geographical area. Convenient-In that it does not involve making a queue to get the money or go to a service provider like an ATM machine to withdraw the money Ease of Use-In that any person with any level of education can use it to conduct transactions reaching a high number of people. Safety-In that money transferred via the system gets to the recipient without being diverted to another person or deducted in amount. Affordable Price-In that both the high and the low-income earners can use this method in their transactions.
The cost was manageable. Additional motivation was that there are a considerable high number of people who have migrated from their places of origin in search of better working conditions so that they can adequately provide for their families.
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