Smart Wallet - Our Sample Paper

Smart Wallet - Our Sample Paper Smart Wallet Our Sample Paper The phases of innovation in the development of a product are crucial in its future success. It is essential to ensure a thorough analysis in order to tackle all the challenges facing the development of the product. The phases of innovation describe the process of the product’s development and how to ensure a successful incorporation into the market. Therefore, the product in question, Smart Wallet, is likely to have a positive effect on society because it is bringing ease and efficiency in dealing with personal finances. The Smart Wallet is a small electronic device that assists an individual to store their personal information safely. It incorporates the latest software to allow different types of connectivity options such as the internet and Bluetooth. The purpose of the device is to secure vital electronic information as well as money. However, unlike most hack proof devices on the market, the Smart Wallet offers the option for an individual to store mp3 music as well as photos. This makes it convenient for the user to carry around and it is practical in a wide array of situations.  Other interesting features of the Smart Wallet include an E-lock that has password protection. The accessibility of the contents of the Smart Wallet is subject to a password request, but it is possible to change these settings to suit the preferences of the individual. Therefore, this means that the owner can also choose to store sensitive electronic information that is practical in their daily lives. As a backup for t he safety features on the device, the Smart Wallet has a special network that allows the owners to upload their personal information. Among the guarantees for the owners is the privacy of their information, but submitting their personal information is crucial as it helps to trace it in case it gets lost. The network accessible to the owners will be similar to iCloud by Apple. We call it Xky. The network will be cheap to access and it will also contain essential information that will assist the users to get around their devices. Additionally, there will be chips within the wallet that allows the device to access to a GPS network. This means that the owner will also have the alternative of tracking down the wallet with their phones in case it gets lost. These beneficial security features make the device attractive to users looking to secure their personal information.  We will use fingerprint that can be used to mobile payment (Xpay) or accumulate point of membership card. The traditional wallet with more card that is not convenience.  The Smart Wallet offers a good option for a smart, green product because it causes absolutely no pollution. In addition to this, it will have solar panels on its body work, allowing it to charge independently without relying on electricity. The ease and efficiency of the product, in addition to an accommodating size, will attract users to store their personal information. Therefore, there is invention in the development of this device as it will be a first of its kind and it also offers a lot of innovation in the scientific and technological field. On the other hand, the Xwallet will use OLED on the outside, the OLED are not just thin and efficient they can also be made flexible (even rollable) and transparent. We through Xky can change the picture on the OLED to shown.  In selecting a market for this product, current technology users in various professional fields offer the best options. By engaging a website, users can access information about the product and make purchases from wherever they might be in the world. The design of the product is attractive, small and compact to suit the current market demands. This product is likely to satisfy the needs of the existing market because it offers an excellent alternative for storing crucial information with ease. Company management The purpose of this is to provide information on the Smart wallet production company in question. This company operates in the European Union and there is an effect on its productivity through the various regulatory measures. This section will focus on salient issues that affect the business operations in this region and have numerous effects on profitability. The policies in the European Union affect all types of businesses and companies regardless of their sizes. Therefore, there is the provision of a clear analysis of these concerns and how they shape the operations of the company.  The foreign exchange risk management policy of the organization has a decentralized approach to ensure the monitoring of all the operations of all its offices. This means that there are several department heads in various countries who supervise the main activities of the corporation. Therefore, a decentralized system is favorable for the organization because it monitors all the critical activities tha t will endear the product to the targeted market. There are a number of operational exposures that face the corporation. This means that the direct activities that the company is engaging in come with certain risks that require immediate mitigation. These risks cause a lot of difficulties in the productivity end of the business and result in huge losses if there is no strategy in place. Operational exposures highlight the poor position that the company has in the market and shows the need for improvement. It is necessary to provide mitigation techniques for operational exposures to ensure that there are no delays in the productivity process. There are other derivatives that the firm makes use of to fund, invest and cater for other price risks. Forward contracts are common derivatives whose application protects the firm from incurring huge amounts of losses. Forward contracts help to divide labor in a strategic way where the company does not have to spend too much money on employee contracts. This is normally an effective strategy to use because a lot of money would go to waste in paying redundant salaries and wages. Therefore, forward contracts helps in sub-contracting other laborers effectively while minimizing the total costs the business has to pay.  Futures are also useful derivatives because they indicate the current and upcoming trends of the market. There is a thorough scrutiny of the behavior of the market in order to determine where the best investments should be made. There use is for monitoring price risks and this is particularly useful as the company is able to forge the right direction for its operations. I n addition, investors are capable of accessing lots of useful information about the performance and operations of the company. These assist in making strategic investment decisions by ensuring that the investors have a rough idea of the risks. Forwards help the firm to protect the assets it has in its productivity and enables it to select the right capital investment activities. The options and swaps also offer the business new opportunities to monitor the progress of its investment activities. This is because these derivatives allow the company to invest its money in several different stocks that assure generous returns. However, the selection of the most appropriate stock for the funding of the activities of the companies needs a thorough risk analysis. The options and swaps derivatives are indications that the business can simultaneously make investments while at the same time fund its operations. The company’s vast interest in business activities in the world over has seen it emerge as the leading manufacturer of personal care products. The offshore funding activities also include the expansion of the Latin American market especially after the closure of four plants. The Latin American market has a very high potential for the growth of the corporation because there are a few competitors who can match to Kimberly Clark. This means that there is a big opportunity for the corporation to establish itself as the leading supplier of personal care products in the region.  Its main funding activities are going into the expansion of sales points on the continent. This also applies to Africa where the corporation is putting more money in the sub-Saharan countries. There have been lots of investments going into South Africa and the emerging markets in the region. However, the policy of the firm is changing to incorporate other countries such as Botswana and Zambia. Further expansion i nto the north will depend on the level of success in these initial countries. These funding activities are opening up the doors of opportunity not only for the consumers, but other industries, as well. Conclusion This report has identified reined in on the production and usage of Smart wallet and how helpful it will be when introduced to the mainstream target market. It has also shared the need of sound company management to enhance the product growth globally. The business plan helps in showcasing innovation and its complement to the students and other parties’ growth.