What Is Baleen

Baleen is a strong, yet flexible material made out of keratin, a protein that is the same material that makes up our hair and fingernails. It is used by whales to filter their prey from the sea water. Whales in the Suborder Mysticeti have several hundred plates of baleen hanging from their upper jaw. Like our fingernails, the baleen grows continuously. The baleen plates are about a quarter-inch apart and are smooth on the outer edge but have a hairy fringe on the inner edge. The fringe on the plates overlaps and creates a mesh-like strainer inside the whales mouth. The whale uses this strainer to trap its prey (usually small schooling fish, crustaceans or plankton) while it filters out the sea water, which it cannot drink in large quantities. Some baleen whales, like the humpback whale, feed by gulping large amounts of prey and water and then using their tongue to force the water out in between the baleen plates. Other whales, like right whales, are skim feeders and move slowly through the water with their mouths open as the water flows in the front of the mouth and out in between the baleen. Along the way, tiny plankton is trapped by the right whales fine baleen hairs. Baleen is historically important as it was sought by whalers, who called it whalebone, even though it is not made of bone at all. The baleen was used in many things such as in corsets, buggy whips, and umbrella ribs. Also Known As: Whalebone Examples: The fin whale has between 800-900 baleen plates hanging from its upper jaw.

The Language Bathtub Effect

Queen Elizabeth I Of England - 967 Words

In the late 16th century, Queen Elizabeth I of England endeavored to establish a permanent settlement in the New World. Elizabeth granted English aristocrat Sir Walter Ralegh the rights to introduce a settlement to spread the influence of the Queen and the Christian faith. In 1585, the first English settlers populated the new colony of Roanoke. By establishing Roanoke, the English hoped to launch trade with the Native Americans and mount piracy attacks on the ships of the enemy Spanish fleet. Queen Elizabeth sponsored â€Å"privateering† by motivating English sailors to raid and pillage Spanish ships, and having an English colony near the Spanish colonies would increase the effectiveness of privateering. Elizabeth hoped that once the English controlled the entire Eastern Seaboard of the new continent, the Spanish would hardly be a threat. However, the English were hasty in establishing their first settlement and this ultimately lead to the downfall of the colony. Roanoke faile d to last for more than a few years and by 1590, the entire colony had disappeared. If the English focused on establishing a safe and durable settlement instead of developing a base for trade, privateering, and further expansion, the first colony of Roanoke could have been successful. Roanoke was established with the intent of being a trading colony before the colonists firmly established friendly relations with the Native Americans. In 1584, English writer Richard Hakluyt documented a list of advantageousShow MoreRelatedQueen Elizabeth I Of England1040 Words   |  5 PagesElizabeth sat in her bedroom in the Buckingham palace brushing her long, curly, red hair which was stained with strands of gray. She focused on the mirror and softly stared at the freckles on her pale skin, which looked as if it needed to be ironed, and her dark brown eyes that looked like a black hole against her pale complexion. The year was 1587, Elizabeth had gone through so much to be here. 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Entrepreneurship in a Globalised Environment

Question: Write an essay about the Entrepreneurship in a Globalised Environment. Answer: Introduction: Kosovo is one of the Western Balkan countries that have achieved a notable progress in establishing a market-led economy. Kosovo is a potential candidate of the European Union membership. It is one of the countries that showed great positive growth post the crisis period. Total asset of the banking sector has increased from 3.19 billion in the year 2014 to 3.39 billion in the year 2015. This growth has been a result of growth and increase in loans and advances from customers. Kosovo has 10 commercial banks with a total asset of 72.3%. Other financial institutions include insurance companies and micro finance institutions as well (Siqani and Sekiraca 2016). There have been issues related to the technological advancement in the working of the banks and other financial institution. This calls for making better approaches towards making deposit and withdrawal of money easier for the customers. This paper is based on analyzing the opportunity for ATMs and POSs in the region of Kosovo an d its nearby regions such as Macedonia Problems: The banking sector of Kosovo has been facing great challenges. The country has seen a massive rush in foreign exchange and cash holding techniques. The small size of Kosovos economy and poor experience of the people with the banking sector have raised the necessity for strong participation towards the development of banking sectors. In respect to the developed countries, one branch of bank is available for 1500 customers; Kosovo has one branch for 9000 inhabitants (Bankofalbania.org 2016). The commercial banks maintain their own ATM Few plans on exchange of households amounts between 1,000 and 10,000 were allowed to be the maximum amount of cash exchange. The banking sector of Kosovo is already struggling in the IT developmental process. This is mainly due to financial limitation. It is due to these struggling efforts of the banks, that there arises the situation of thinking of ways to improve the technological capabilities of the bank. Availability of ATMs and POSs in almost every developed and developing nations, has increased the urgency of such technological improvements in the banking sector. Numerous debates have been made in the process of outsourcing in Kosovo without making a clear comprehension of outsourcing. Opportunity: In recent negotiation of Stabilization and Association Agreement, the country is expected to progress its relationship with other countries. There has been considerable increase in the number of commercial banks in Kosovo in the year 2002 and 2003. Major seven banks of the country have shown great expansion. It has been found that the commercial banks charge differently with other banks. Thus, if a single system is made that would help the customers to deal with monetary transaction from a single point of access, then there would be a better opportunity for the consumers to access the innovative techniques of the banking methods. On the other perspective, it might be said that there is lies great opportunity for any kind of innovative product in the market. Creativity along with technological approach towards a venture would call for greater acceptance among the consumers. In this respect, it can be said that considering the problems and issues faced by the people at Kosovo in carrying out transaction activities, an innovative approach such as the said business plan would be fruitful. Importance of technology is gaining importance day by day (Mullins 2012). In the recent perspective, it cannot be denied that every activity is related to some kind of technological involvement. For monetary deals, it is convenient to use technology for easy transfer. In the developed countries, the approach towards making every transaction using technology has long been proposed. If the same approach is made in a small region like Kosovo, it will also be a great venture from the perspective of an entrepreneur. Context: There is a great market potential for Automated Teller Machine (ATMs) and Point of Sale (POS) equipment in the e-utilization of banks in Kosovo. More and more banks are investing in the process of making e-banking available to the consumers. The business idea is to establish an e-banking system for the existing banks. The idea behind the proposal of a new venture is to establish a path for the existing as well as the new banks to think of innovative ways to open up ATMs or POSs at various places of the target areas (Navarro 2015). For the same, a detail research will be conducted on the various aspects of banking sectors and the opportunity of innovative techniques in making the process of transaction easier for the consumers. The business project presents a good opportunity for both banking sector and their clients. Greater approaches will be made in making the transaction and other financial activities to carry on with better operations. Apart from drawing a plan for the business project, other things like risks and scalability of the proposed project will also be analyze. Along with that, a financial report will also be presented to get knowledge of the estimated budget of the project. Literature review: Literature review section helps to analyze different concepts related to the area of research. When the concepts are clear, it provides an opportunity for the researcher to think of the available options in the new approach or the research study. In this case, it can be said that the business plan is an innovative approach towards the creation of an All in one ATM machine. Thus, an analysis of the theories related to innovation, technology, and new venture and most importantly, entrepreneurship will be carried on. Innovation: Process of innovation is very challenging. Much effort is given on understanding the industrial process and then innovative approaches are made towards the business. Empirical evidences show that innovation process follows a different pattern in major developing countries. As stated by Toi et al. (2013), innovation comes with uncertainty. However, this uncertainty depends on two key concepts, the technical performance of the innovation and the market response on the introduction of the innovative product or idea. Skenderi et al. (2016) has identified five major paths of the innovation process. The major innovative idea starts with the invention or production of a design or a product. This depends on the market signal, and then the product is developed, produced and marketed. The next major step is getting a feedback of the innovative approach after taking steps and controlling in respect to the perceived market. Linking the innovative approach with the science of innovation is what comes next. Linking the innovative idea with the available various resources for accompanying the complete process. Then the rare factor, where new and innovative approaches make it possible due to radical innovative ideas. The last stage also calls for feedback of the innovative ideas. The result of any kind of innovation is not only a new product or service, but it also calls for new information which has public good characteristics as well. In this case, it can be said that RD department is responsible for understanding and creating opportunities that might be socially profitable but privately unprofitable (Siqani and Sekiraca 2016). These approaches sometimes cause for market failure and the innovative approach is failed. New venture, new products and entrepreneurship: Creativity and innovation has the ability of creating a noble solution that can solve relevant problems. A new venture can also be proved to be a competitive advantage in the market. For an entrepreneur, creativity is considered to be the first stage of innovative ideas. A successful entrepreneur can be called as the one who comes up with a successful innovative idea that would attract consumers towards the product or the service. It is also important to convey the message of the innovative ideas in the market. The entrepreneur often justifies the approach made by him and shows the validation of the new approach made by the person. These creative approaches bring economic prosperity to the organization as well. As pointed out by Shim (2013), in order to make the creative idea work in the market, it must be useful enough for the market and has the potential to capture the market with the new venture. As suggested by Shaqir (2014), an entrepreneur must have the insight and the judgmental decision of the usefulness and the effectiveness of the new venture or the product. Again, it has been argued by Sadgrove (2015), that there always lies the opportunity of new approaches in the market; it depends on the ability of the entrepreneur to think of all the possible ways towards the approach of a new venture. It has been suggested by Putnik et al. (2013), that for the success of a new venture; promotional activities play the most crucial role. Thus, it is also expected that a great focus have to be made on the marketing and promotional techniques of a new venture. New product is the one that offers newness in the existing market. This calls for initial acts of creativity that also calls for the opportunity of a new product that would bring economic value and commercial survival of the new venture. An entrepreneur is the one who is responsible for carrying out a new venture and introducing a new product or service. As pointed out by Pula et al. (2015), for a better output from the entrepreneurial perspective, it can be said that three basic motivations are needed. These can be denoted as, intrinsic motivation, domain-relevant skills, and a cognitive process towards creativity. For a new venture towards the establishment of a new and innovative approach in making the all in one ATM machine, all the mentioned characteristics are indeed important. New ventures in the banking industry: Various new ventures have been introduced in the banking industry, in both developed and developing nations. As pointed out by Pavlou and Stewart (2015), the established and privately owned banks have the capacity to introduce any kind of ventures by investing money. The existing bank players are playing critical roles in the process of openness, collaboration, and investment. The banking sector has understood the importance of going digital and dealing with the various issues that might require to get benefitted from the driven forces of new services and productivity. In argument, it has been pointed by Osmanaj (2014) that in the situation of meeting challenges, the banks might have to face with certain risks as well. The Fintech sector has showed the opportunity of new ventures in the diversified environment, two of the biggest success of the sector can be mentioned. First, is the payment processing services were one has the opportunity of lending or borrowing money to peers. Legacy technology and issues faced with the difficulties of approaching the new technological perspectives sometimes become an important factor in coming up with new venture or innovative product idea. Banking and Payment Authority of Kosovo established by UNMIK is responsible for the implementation of the monetary and other financial framework in order to foster an efficient and a safe payment system (Navarro 2015). Despite these approaches, there are notable future assumptions that would keep the traditional mode operated banks future ready to fight with the technological approaches made by the banks. Some banks keep on operating with the product-based assumptions rather than thinking of digital ways to improve their business. Business and market attractiveness: The idea behind the proposed venture is to enable the service of ATMs and POS in the market of Kosovo. This will creates opportunities for new banks and existing banks by the means of increasing ATM access. There have been issues regarding the availability of ATM machines in the existing banks of Kosovo. Each bank has limited very few number of ATM machines exclusively for themselves. If consumers from other banks use the ATM of other banks, the person has to pay certain amount as access fees (Mullins 2012). This automatically calls for an opportunity of a new venture that would reduce the extra amount to be paid by the users of the ATMs. Thus, the higher charges paid by the customers can also be reduced to some extent because everything will be digitalized and based on virtual operations. Inclination towards creating a customer satisfaction has been a long-term effort made by the banks and other financial institutions. Digital revolution has caught the headlight of easier task and cost reduction as well. New players in the banking sector have effectively taken part in the process of making the operations digital. The product-based approaches of the banks have been continuing successfully and the banks failing to keep pace with the same approaches have seen to reduce share in the market. However, certain banks are stubborn towards their approach and believe in the impregnable nature of the business. As pointed out by Mulaj (2014), these banks are facing continuous diminishing share as their brand reorganization is reducing due to inability to compete with the existing fast flowing strategies of the banks. The sources of revenue of the banks are reducing with the changes in the insight of the customers. As the insight of the customers, are growing and they are reacting to the change in the business scenario. Banks might take advantage of this short-term idea and focus any kind of changes or innovations in the strategies of their business. In the viewpoint of Melecky and Podpiera (2012), when a bank or any other organization comes up with something innovative, then it is bound to attract the attention of the customers. Thus, solving the interim digital frustration of the customers would help the banks to solve the issues that are making the banks remaining behind in satisfying the customers. Utilizing ones own intellectual properties and the expertise of the bank, or in case if required, taking help from outsourcing, the banks can make approaches towards making the operation more customer friendly. This would be the most appropriate way of creating customer satisfaction. In the age of great competition, satisfying customers is indeed required to create a brand loyalty. As pointed out by McKeever (2014), it is only by the means of creating a brand loyalty among the target customers that will engage the existing customers to stay loyal towards the brand. Overview of the industry: Kosovos banking and financial sector is composed of 10 major banks, operating in 247 offices. There are 14 micro finance institutions and 3 other non-bank institutions. There are 7 insurance companies and a single Pension saving trust as well. Banking system of Kosovo covers a wide area. Approximately, there is one bank branch for every 9000 inhabitants. Total asset of banking institutions in Kosovo is 700 million Euros. This is equivalent to 40% of the GDP of the country. At the time when Kosovo planned for Euroisation, the inflation rate increased at over 40%. This inflation rate was not removed consequently and in subsequent years, Kosovo recorded double digit inflation (Mazelliu and Zogjani 2015). However, Euroisation has removed economic fall down of the region to some extent. The process has reduced transaction cost that is an important factor of trade within the Kosovo economy. The central banks are facing more constraints to tackle the lenders functions. Digitalization has been a process undertaken the banking sector in its business since a long time. Innovative approaches have been seen to undertake by the banks and other operating industries as well for making the working procedure digital and less time consuming. For example, Germanys Fidor Bank has established FidorOS, an open application program that facilitate the consumers to carry on with core banking. This method has provided a great offer to the existing customers (Mathaisel and Comm 2015). The users of the service can carry out with various transactional activities, such as lending or transferring money to others accounts. In fact, the most innovative approach made by the bank is by the offering a modern range of service of transferring money via Twitter. This way, 24 hours transaction has been made possible by the bank with their innovative approach. Thus, it can be easily said that the banking sectors are striving for innovative approaches and the banks are focusing grea tly towards making innovative changes in the operational activities of the bank. The solution: Companies that operate in a single field such as a bank, have greater opportunities to conduct outsourcing. When a special product or service is introduced by the same sector, it is usually welcomed by the consumers. In this respect, it can be mentioned that outsourcing has also touched the business scenario of Kosovo (Manu 2015). These opportunities have opened wider perspectives for the entrepreneurs of the young talent of Kosovo. There is provision of earning immediate profit as well as long run profit from the outsourcing techniques. One of the solutions gained for operating in the digital environment is by the means of collaboration. Several private as well as corporate banks have taken the initiative towards collaborating with the each other. These companies have made an approach towards opening of an ATM or POS counter to make it easier for the consumers access the monetary transaction. In fact, collaboration approach has made it a factor that the organizations can utilize it for their future projects as well (Malush 2014). When a cross-cultural or cross-company collaborative approach is made towards a business, then a better result is expected. Many examples of this collaboration can be stated here. In the year 1966, having realized the potential of the power of plastic money, the MasterCard was founded to support the interbank payment option. This way, these banks shared the utility of the proposed idea and made the transaction facility easier and convenient for the users. Similar approach can be made in the banking sector of Kosovo. For the introduction of All in one ATM, not only a number of banks can make collaborative approach but a cross-industry approach can also be made. Since, the machine that has been proposed will be applicable for several other purposes and not only transaction of money, a cross industrial approach would be beneficial to develop the product (Leonidou et al. 2013). A cross industrial approach will open doors for future vale generation as well. Digital approach has been made in almost every sector and every company is thinking of ways to go cashless and transfer of money easier. It might be a challenging situation for a new venture to go for a collaborative approach towards the start of the business but the solution that has been proposed for the new business plan venture could be collaboration with the existing banks and other cross culture industries. It might also be added in this respect that when a collaborative approach is made, then a good support from the established industries helped to gain loyalty of the customers in the market (Lages et al. 2013). Investing for a new venture and starting a business completely in a new way without the help or collaboration of companies might prove to be really challenging. Getting loans from the bank would not be easy. However, even for a collaborative approach as well, some funding is indeed required that would be gathered from the banks in term of loans. Designing the business model will also require the investment of some amount as an initial funding. Positioning on the Innovation map: It is indeed required to position the service in the market. As commented by Lages et al. (2013), unless good marketing is not done on a new venture or product, the company cannot hope for better returns from the market. For gaining a gripped position in the market, conducting a marketing mix is very necessary. Marketing mix model: The 4Ps of marketing, namely, Product, Place, People and Promotion can be discussed here. Product: The product as already stated is a multi use machine. Several functions will be available in the machine such as depositing cash, withdrawal of cash, money transfer, exchange of money and other such facilities. The service will be available to the customers at a much cheaper rate. This would make the system easier for the user to carry on with the transaction and other related things (Kupina and Salko 2015). Moreover, the machine would be equipped with such devices that would reduce the time of checking balance because the model will be equipped with such devices that it would directly take the input from the customer without creating confusing navigation options. These things create confusion as well as are time consuming. Place: The place selected for the business is Kosovo because the number of banks and other financial institution in this region is very less. It would be a better business opportunity in terms of opening ATM or POS in collaboration with the banks. The same approach might be expandable to nearby markets of Albania, Macedonia and Serbia as well. People: The target group of people is the users of bank account. People all around the world are using the ATM facility to withdraw money. Other facilities like depositing and checking balance of the account has increased the number of users by many folds (Krasniqi 2014). When the facility of transferring money from other banks will be available along with exchange of currency, then more numbers of customers are expected to use the facility of the ATM machines in the Kosovo region. Thus, people from all sectors carrying out with monetary transaction at a regular basis can be the targeted customers for the new venture. In this respect, it has to be mentioned that for the new venture, the regional banks of Kosovo are also needed to convince to join the new venture. With more numbers of banks involving in the process, more numbers of users can be targeted. The purpose of the venture is not only to promote the function of ATM, for withdrawal of money but to serve other purposes as well. Thus, the targeted consumers are not only bank users but the banks as well. Promotion: The promotional activities can be carried on by various means. In this case, reaching out to the banks and other financial institutions personally with the proposal can be considered to be the best promotional technique (Kimiagari et al. 2015). Other than that informing clients by sending personal messages via as e-mails or i-message can also be very fruitful. At the place promotional activities would be very fruitful for this purpose. Kiosks and other hoardings might be placed in various branches of bank to promote the new service. If the above proposed marketing mix is applied for the sake of marketing the product, there is a chance of attaining greater success in the market. Business model: As stated by Kim and Mauborgne (2014), Business model is an art that is required to plan before the commencement of a new business venture. Unless a business model is set up, there remains no path of taking the business to higher level. Certain things are required for the establishment of a new venture. For the sake of establishing the innovative service in the form of All in one ATM a business model can be framed. Every machine would be enabled with the ATM facility by which customers would be able to withdraw money as per their convenience. Other facilities that would be available are depositing cash from the same counter. One would be able to pay the installments of bank loans or any other types of loans. Other things required for setting the ATM counters would be flat fee for banks or the clients. The idea is much reliable and is sustainable for at least 10 years. Assurance can be made for this proposal because there is much less scope of technological advancement in Kosovo and the nearby regions as well (Jimnez et al. 2013). However, todays world is turning digital with technological advancements and every action is being carried on virtually. The idea is much innovative and would be highly acceptable among the people of this region. In the age of globalization, the world is getting connected by the means of internet using the digital platform. Every sector is making approaches to adapt to this change just to meet the global demand of consumers. Monetary transaction is indeed needed for every sector of business and carrying out any kind of regular activity. Thus, the business model would be very fruitful if proper approaches are made towards the establishment of the All-in-One ATM machine. Critical resources needed: As pointed out by Ismajli et al. (2014), basically five types of resources are required to start up a business. Many projects or ventures fail in succeeding in business due to deficiency in certain critical resources. For the new venture of opening all-in one ATM, the critical resources needed might be mentioned here: Financial resources: the most important element to start up a business is the requirement of financial help or funding. Every small and big businesses requires the financial funding. For the sake of this new venture, a proposed budget has been made. The amount required for this budget might be available from the banks in terms of loan (Huang and Sarigll 2012). Since, it is a big venture, supporting the project with the capital available to a single or a group of persons might not be possible and it certainly requires taking financial help from the banks in terms of loans. Human resource: Skilled and knowledgeable human resource is required to carry on with the business perspective. Since, it requires a great knowledge of technology; people from IT sector are required to take charge of the complete business project (Hoti et al. 2014). Apart from them, creating a business plan would require the involvement of entrepreneurs and thus, human resource from Business knowledge background is also required. For the promotional activities, a group of experts are also needed. Educational resource: Without understanding the basic educational background of the various approaches needed for the sake of carrying out the business venture. Getting educated about the internal and external policies of the things related to the new venture will facilitate to understand the business and take better steps towards the new venture (Hanssens et al. 2014). Physical resource: Physical resources such as space for establishing the ATM or the POS machine. The new proposed venture might be used by shopkeepers as well for monetary transactions. Thus, such shops or outlets are also required for the machines to work in the market. Emotional resource: Emotional resource calls for moral support and assistance. It might not be possible for a single entrepreneur to handle the various situations of success and failure. However, a moral support from few people gives the possibility to fight with the situation (Han et al. 2015). An emotional resource calls for team building and metal or emotional support for the business venture. All the mentioned factors are very important for any business venture to begin in a new market. Scalability: Understanding the scalability of a product or a service is important because it describes the capability of the same to cope or perform in the given environmental situation. The service that would be able to scale well in the market, have greater opportunity to grab the market. Some of the scalability factors of the service for All-in-one ATM machine might be discussed here: Geographical location: The region selected for the business plan is Kosovo. As already mentioned, the need of technological development in the region, it purpose of the launch of the service might prove to be really fruitful (Govori 2013). Product differentiation: This call for differentiation in the product which means that the new service or the product will serve something different that might not be available previously. We know that ATM machines are very common in recent market scenario and people are taking advantage of the service to a large extent. In the developed and developing countries, there is no bank that does not provide ATM facility (Gashi 2013). However, if the proposed idea provide something extra other than the normal facility of cash withdrawal or cash deposit, then its scalability might increase. Some of the extra facilities that might be available from the All-in-one ATM is: Cash back on POS: Many times, people are stuck with the problems that while doing any kind of transaction, mainly at the time of making payment, the transaction is failed. However, the person paid for the same transaction receives a message that the amount has been debited from his account (Faroughian et al. 2012). The person gets panicked stricken. In order to overcome from these types of situations, the machine would be equipped with the facility of getting the cash back from the machine if the transaction fails. This would create greater trust among the users and they would use the service without much hindrance. National/international transfer transaction: The service will be available for conducting any kind of transaction both national and international. People will be able to send and receive money from any part of the globe. Phone credit top up: Apart from all the above mentioned facilities, it is also expected that the machine will be also be enabled with the facility of carrying out any kind of recharges for paying bills of telephones, electricity or any other such requirements (Evans 2015). The above mentioned extra feature would definitely grab the attention of the users and consumers in the market. People would use the service happily Go-to-market strategy: Go to market strategy is the plan that an organization undertakes utilizing the available inside and outside resources that allows them to deliver their unique value proportion to the target consumers in order to achieve competitive advantage in the existing market. It depends on the overall experience of the product or service such as the quality of the product to enhance their market proposition (Dibb and Simkin 2016). The business plan that has been proposed shows the go-to market strategy in the following way: Favorable agreements with banks and other financial institutions: Capturing the market by favorable agreement with banks, enables automatic access to the clients. It is expected that the management team of the new business would come up with certain strategic plans to keep a trace of the banking business in the market and formulate better schemes and agreements with the banks that they easily cope up with the business plan. Better service fees: A negotiable service fee has to be assumed for the sake of carrying out the transaction activities with the consumers and the banks. It must be kept in mind that pricing strategy has been used by major companies to fight with the competitive nature of the market (DeYoung et al. 2015). Thus, it is recommended to think of better plans at the time of deciding the service fees to offer to the consumers. Wider physical presence: Binding the service within a limited range of geographical location will not help to attract as many customers or clients towards the innovative business plan. The only way to grab more customers is to spread the business far and wide (Born and Pfeifer 2014). Thus, approach has to be made for wider physical presence. The regions of Macedonia, Kosovo and other nearby regions can be easily targeted. With the above recommendation made here, it can be said that the proposed business plan must take great initiatives to follow up their business plan with the contemporary market scenario. It can also be stated here that before introducing any kind of business project, it is the foremost duty of the entrepreneur to dig out all the possible features of the market related to the proposed business plan. It is when the market condition is favorable for the proposed plan; initiative should be made for carrying out the business plan. In case of banking sector of Kosovo, the plan is indeed a good initiative. Financial planning: For the proposed venture, a total investment of 3,000,000 Euros would be made that is procured through investors investment and bank loans. This capital would be employed systematically and would cover start-up cost as well as operating costs before the venture starts yielding enough revenues to cover its own expenses (Brealey et al. 2012). The following table represents the elements of capital funding, sales forecast, cost of goods sold, various expenses incurred by the business and fixed asset owned by the company. As the projected venture is an innovative business idea and does not have any significant competitors, the venture is expected to grow rapidly (Brooks and Mukherjee 2013). Conclusion: By the end of the discussion it can be said that there is a great opportunity of such a business venture in recent scenario where there is a great opportunity of making every possible thing digital. People and businesses are getting connected very easily by using internet as the medium of connectivity. The age of globalization calls for effort to be given by every business activists. People are becoming more technology oriented and want to carry on with basic things by the means of technology. Easy payment options like Paypal and iPay have been operating in the commercial market with great success. Thus, any venture made in accordance to such related business perspective would prove to be a massive hit in the business market. The business plan has described the situation of the banking sectors in Kosovo. It is clear that there lies a great opportunity for a business ventures like All-in one ATM. It is expected that the banks and other financial institutes would easily accept the proposed idea. The venture is also supportive for the people because this way they are able to make payment in a better and easier way. In fact, more and more people are opting for e-payment mode rather than doing cash transactions. Apart from the opportunities, the scalability of the product along with possible risks that can take place with the advent of the new venture has been discussed here. It can be stated that the venture could be easily expanded to other regions as well and there is a high possibility of the acceptance of the service far and wide. If the scenario of Kosovo is undertaken, then there lies a great opportunity in the banking sector of the region and the nearby regions as well. If proper implementations are made and the banks and other financial institutions are convinced for the proposal, then the business plan would be of great success. 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