Innovation and Change Management: Banqer

This review will focus on an online financial education software which is situated in New Zealand. The analysis will identify its mission, eyesight, objectives and its external environment. It will format impact of the internal environment and will last but not least recommend certain new types of technology that can be used by the company.


Banqer evolved out of the extensive climb of the financially illiterate children of the world which has ramifications with it. Banqer is a simulated online banking for classroom that delivers helps on ecology for the youngsters in order to make them creative, curious and at ease money. It pays the students for providing positive patterns and doing the duties that are given in the class room (Banqer, 2017). With the students, they explore budgeting as they educate themselves with the valuable skills with their life by the management of the desks receiving payment for the privileges of the category. Students maturing from 2 to 8 explore various matters that range from cost savings, interest, and taxes to the insurance.

Products and services

Banqer allows the students to get knowledge about the financial literacy responsibility in an extremely interesting and an immersive manner. As far as the product is concerned it can be an online software which is concerned with education which the teachers and the students favor (Banqer, 2017).

Mission, Perspective, objectives

The mission is based on enhancing the financial features of the whole world. Thus making the students well aware of the financial aspects.

The vision statement is associating the professors to make Banqer the best.

The purpose is to improve Banqer's space within the website of where they are positioned now and collaborating with certain movers and shakers to be able to comprehend the worthy of and the potential of Banqer. Their goal is based on gaining direct experience in terms of education, technology, money and design (Banqer, 2017).

In the year 2016, the primary target of Banqer was at building partnerships both in the financial services as well as in the allied market sectors. The students in this industry were capable of buying and buying the online properties as they could need to home loan and earn rentals income in order to pay off the amount they may have borrowed.

Political factors

  • New Zealand has a well balanced government.
  • Chances of success are huge.
  • Special Education coverage.
  • Inclusive education system.

Economic factors

  • Resources are available abundantly because of the population of the united states.
  • The rate of unemployment is high against 99% literacy.
  • Banqer encourages educational software by selecting skilled staffs.

Social factors

  • It is dependent on other countries for business.
  • Spends a minimal amount on research and development.
  • The banking system is strong.

Technological factors

  • Educational system is effective.
  • Enrollment for Education Solutions (EES) to provide licensed software
  • IT technology and the consumption of Internet.

Legal factors

  • The authorities changes after each three years.
  • Education Legislation Amendment Function 2016 to support digitalization in education sector
  • Education Act 1989 beneficial universally

Environmental factors

  • The country has a unique ecological system.
  • Latest technology has been implemented to keep carefully the surrounding clean.
  • Steps created to pollution free country

Political factors

When a certain company commences its business in this country, it takes into consideration politics system, the monetary stability along with the rules and order of the country such that it can provide the economic power to the trade and business. As New Zealand has a stable government so there is a huge chance of success because of the impactful rules and the laws. Hence, the probability of Banqer's success is immense. The New Zealand government got conducted changes in the education administration and released special education plan along with other policies (Ministry of Education, 2017). The plans and political stableness of New Zealand would promote Banqer as the country aims to accomplish inclusive education system (Banqer, 2017).

Economic factors

The monetary condition of New Zealand is great with 3. 5% GDP development as with 2014 (Tradingeconomics, 2017). Because of the huge people of the united states the resources are abundantly available. The merchandise are economical in dynamics and are easily afforded by everyone. The unemployment is quite high at 3. 5% in spite of literacy rate of 99% in the country. Banqer can easily appoint skilled staffs who are prepared to work. The business would be able to promote the educational tool in the united states to help expand literate children and reduce unemployment.

Social factors

The sociable system of New Zealand is certainly which is dependent on business with the other countries. Since it is determined by other countries for technology so that it makes them spend quite an amount on the work of research and development. As the bank operating system is extremely strong so allows international immediate investment in the united states (Banqer, 2017). Banquer would be impacted by the social status of New Zealand as education imparted using technology would ensure welfare of the country.

Technological factors

The country has a highly effective educational system. With the help of the technological improvements it has presented IT and the utilization of Internet which includes helped Banqer in the provision of its service in this country (Richard, 2012). Due to the various online education facilities it includes increased the speed if literacy to almost 99% which is more than almost all of the countries. Ministry of New Zealand possessed also launched an application called Enrollment for Education Solutions (EES) to provide accredited program for software which is beneficial for Banqer (Dashper, 2017).

Legal factors

As the federal government changes after each three years so there can be an establishment of new laws and regulations (Moskovitz, 2016). The Education Legislation Amendment Work 2016 and Education Act 1989 positively impacted Banqer as educational institutes follow the regulations and plan and digitalized their educational position using software (Martin, 2016).

Environmental factors

People of New Zealand are well alert to the initial ecological system. People have adopted the latest technology in order to cope up with the garbage and really helps to not pollute the atmosphere (Crossley, et al. , 2015). Certain initiatives are taken in order to help make the country clear of pollution and dust which is also abided by Banqer.

The SWOT research is a highly effective framework to understand what sort of company in sector compare its inner and external conditions in a industry. Banqer as a startup has been effective in simulating financial exercises and supporting students to get literacy in the topic and subject. The following contains a short debate about its various talents, weaknesses, opportunities and threats.


The major strength of the start-up has gone to understand the main element to build up STEM (Technology and Technology, Engineering and Mathematics) among college kids. In this respect, the company has tried out to the bridge the gap that was mentioned in the endeavours to give attention to these themes in Australian and New Zealand school systems. Another major power of the business has been word-of-mouth marketing that helped built its credibility, mostly because the educators who had tried the system understood its ingenuity and efficiency (startupdaily, 2015). The business has also expanded based on its partnerships with renowned organizations like those in real house to develop modules for students and catch the attention of more kids who would be more interested in such subjects.

What has also worked well for Banqer is their simple pay model which starts at free of cost for the initial trial period and 3. 5 us dollars are recharged per scholar per semester, which can reduce down to 2 dollars if the learner subscribes for multiple semesters (stuff. co. nz, 2015). It has also partnered with Kiwibank in order to provide better overall flexibility to students who cannot support their membership fees.


One of the major weaknesses can be known is having less diversification in the types of services that are offered. At present, the company is merely focussed in the financing subject which could pose problems for the company. Another problem that may be observed is to rope in the appropriate trader for the task. The business is seeking to reach a higher saturation point before getting into other market segments. In this regard, it is looking for investors who can form area of the team but also who need to understand the basic idea of the start-up and not meddle with the natural strategy of the business.

Another initial problem that had became a weakness before was to change the attitude of the colleges and parents. While increasing, such a challenge can also be felt in other countries as well.


The opportunities for the business have already been identified by one of the co-founders, Kendall Flutey. She's observed that the opportunities lay in expanding the services on a global scale you start with Australia and moving on to the United States. She has also observed that since USA place emphasis on financial established learning, it would be profitable for the business to consider widening there (Robson, 2016). While finding investors is definitely an issue while extending, crowd-funding might also be investigated just as one source of investment and finding the right of shareholders who are as determined on making education convenient somewhat than making profits.


The biggest menace is most likely the over-dependence on the web medium as with the various technical improvements, there are several ways, nowadays, where hackers might interrupt and cause problems for the company and the novelty which experienced managed to get successful to begin with. The novelty that spent some time working for Banqer can also change quickly as more companies see the profit generating functions and develop their own variants and certainly with technological advances, there might be better options as well.





  • Focus on bridging the gap.
  • Valuable partnerships
  • Earning trustworthiness through word-of mouth
  • Lack of diversification in the product range.
  • Getting like-minded shareholders.
  • Different method of education can prove to be problematic
  • Expansion
  • Crowd-funding.
  • Over-dependence on the online medium
  • Technological advances
  • Replication by other companies.

With the considerable developments in the scientific aspects and the ways in which communication has been impacted all over the world, it might be particularly relevant for the business to manage certain changes and develop modules that tend to be student specific. One of the recent developments that contain been made is the CV writing and software process that the company is providing within simulated environments (McNicol, 2016). What is actually interesting to note in this regard is the focus on student-teacher connections which is the worthiness of this creativity to the business. However, the modules and the classes can be observed to be developed on a thorough level, and probably it would be greatly beneficial if specific modules are created remember the specific talents and needs of the students.

Another essential requirement has been the developments in the curriculum innovation that is changing the education on global levels. What had been regarded as the most crucial subjects in college are now regarded as auxiliary to the key subjects. So, it would be a effortlessly evolutionary process to incorporate the various innovations that are being made all over the world in order to stay updated with the recent developments.

The most effective strategy to encourage the innovation would be to create a basic plan that is flexible in order to include the changes that are being made on a daily basis. In this framework, it could be recommended that the business regularly set up meetings with the schools and the educational experts in order to gain a far more comprehensive knowledge about the trends that are being made on a global scale.

Also, to be able to include the changes that must be made in terms of providing personal assistance, it would probably be advised to set up one-to-one lessons with the students to be able to understand their personal lacks and exactly how those can be beat through effective consultations. The duty might be tiresome at first, however the complete process can be streamlined if teachers are included within the machine and engaged.

Banqer has been one of the very most useful online programs recently that has sought to redefine financial literacy for the students. It has been successful in the New Zealand market and expectations to expand. However, the hazards of replication can be significant problem. In this respect, the company can begin innovating and personalize their modules to match the needs of the students.

Also We Can Offer!

Other services that we offer

If you don’t see the necessary subject, paper type, or topic in our list of available services and examples, don’t worry! We have a number of other academic disciplines to suit the needs of anyone who visits this website looking for help.

How to ...

We made your life easier with putting together a big number of articles and guidelines on how to plan and write different types of assignments (Essay, Research Paper, Dissertation etc)