Business Model Innovation and Success

This assignment delves into the crucial role of business model innovation in securing a company's success. It examines how incorporating agile methodologies, effectively managing customer power, and addressing supply chain risks contribute to a firm's long-term viability. The analysis draws upon various academic sources to illustrate best practices and strategic approaches for achieving sustainable growth.

Managing a Successful
Business

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Project aims and objectives................................................................................................................3
P2 Project management plan that includes cost, scope, time, quality, communication, risk and resources
.................................................................................................................................................................4
P3 Breakdown structure and Gantt chart so as to know the provided time frame and stages of
completion...............................................................................................................................................5
TASK 2.......................................................................................................................................................7
P4 Carrying out the task with the use of Qualitative and quantitative research methods for attaining
project aims and objectives......................................................................................................................7
TASK 3.......................................................................................................................................................8
P5 Evaluation of research and data with appropriate tools and techniques..............................................8
P6 Appropriate recommendations in context with research in order to draw valid conclusion..............15
TASK 4.....................................................................................................................................................15
P7 Reflection on the value of undertaking research to meet objectives.................................................15
CONCLUSION.........................................................................................................................................15
REFERENCES..............................................................................................................................................16

INTRODUCTION
Managing a successful business is a difficult task so to run a business in an effective
manner it is required lot of skills and potential. As the time has lapse many technologies have
evolved that is assisting an organization in providing better services and facilities to its
customers (Alotaibi and Liu, 2014). Most of the firms have upgraded their systems according to
the latest trends and market situations. Oracle Hospitality Opera Cloud Service is one of the
leading companies that work for providing excellent services in context with hospitality. It is
also known giving platforms for hotel operations. This report will throw light on aims and
objectives for the company so as to develop a project management plan that will give an
overview on cost, scope, time, quality, risk, communication and resources that are related to the
organization. Apart from this, work breakdown structure and a Gantt chart so as to give time
frame and stages of completion is included in this assignment. Therefore, a qualitative and
quantitative research is also mentioned in this report. Lastly, analysis and recommendations will
be provided in order to conclude a valid conclusion.
TASK 1
P1 Project aims and objectives
Developing of new technologies always provides maximum benefits to its customers and
company as well. By implementing fresh technology it enables organization in delivering
excellent quality products and goods. Therefore, according to recent time most of the firms are
moving forward and adopting the concept of using modern tools and machineries for effective
growth. Thus latest and new marketing trends are given importance instead of traditional
method. Apart from this, implementation of fresh technologies it is providing job opportunities
to maximum number of people along with it is assisting the organization in having proper
interaction between employees and superiors. As a result, it is helping the organization in
maintain healthy relations within all the members who are working in the same company.
Henceforth, in context with Oracle Hospitality Opera Cloud Service, new tools and technologies
is providing them in operating their business in an effective manner. As this is assisting the
organization in maintain a transparency between their workers and subordinates so that they can
share their views and thoughts and hesitation. New system is helping them in maintaining the
record and data for a longer period time along with this it is providing security so that no
information gets leaked.
Topic: to determine the effectiveness of digitalization in order to operate their business in a
company.
Background of the project: With the change in course of time, new and innovative technologies
are assisting the organization in attracting more and more customers towards their company as it
is enabling them in manufacture the products as per the wants and needs of consumers.
Therefore, Oracle Hospitality Opera Cloud Service is providing excellent facilities to its clients.

For example: if any customers want to avail the services provided by the organization than they
can simply go to internet and book services according to the preferences and choices. Therefore,
as compared to earlier times now people can easily gain the amenities in just one click. Thus, it is
less time consuming and all the information related to Oracle Hospitality Opera Cloud Service
can be easily accessed through internet. Henceforth, the company is utilizing various tools and
technologies like social media, internet, newspaper, magazines and many more in order to
provide information to maximum number of customers related to the services company is giving
(Pearlson, Saunders and Galletta, 2016). Thus, for attaining a better position at market place all
the employees and subordinates are working together as a result it is helping them in achieving
their goals and objectives.
Aim: Optimizing new tools and technologies in order to make some changes in the activities of
business
Objectives:
 To identify the effectiveness of implementing digital technology in a company.
 To estimate the proper utilization of technologies in business operations.
 TO evaluate the business transition according to the requirements.
Research Questions:
 How to identify the effectiveness of implementing digital technology in a company?
 Methods to estimate the proper utilization of technologies in business operations?
 How to evaluate the business transition according to the requirements?
P2 Project management plan that includes cost, scope, time, quality, communication, risk
and resources
Proper planning is required if a company wants to run their business effectively.
Therefore, planning can be said as a blue print that organization can follow so as to attain the set
targets and objectives in limited time period. Thus, the role of project manager is very important
as they are the one who go through with all the factors that can before formulating the strategies
so that negative elements can be eliminated. Oracle Hospitality Opera Cloud Service, to hit their
targets they are using latest tools and technologies that are according to the current market
situations as a result it is providing them maximum benefits in return. Therefore, a manager of
this organization is optimizing some of the points before, implementing the fresh strategies and
these are mentioned below:
Scope of Project: With the increase in the expansion of market area and level of
competition in rising. Therefore, an increase in job opportunities can be seen in various fields of
the job. Hence, because of the intensity in business it has became mandatory that all the
companies provides services according to the needs and demands of customers so that they can
sustain superior position at market area. Therefore, Oracle Hospitality Opera Cloud Service is

providing all its facilities not only with the help of offline medium but also giving online services
for the same.
Risk management: It is not possible that every organization will have profit for a long
term; they may face some of the other problems which are important to be considered so that it
can be eliminated before it gets worse. Therefore, managers of Oracle Hospitality Opera Cloud
Service are determining all the factors that can hinder the performance of whole business
operations. Thus, it will help them in reducing the chance of risk factor for an organization.
Quality Control: To sustain in the market for longer period of time it is necessary that
whatever company is manufacturing is of high quality so that it can win the loyalty of customers.
Therefore, services that are provided by Oracle Hospitality Opera Cloud Service can be easily
avail by the consumers as in their offers they are considering the choices and preferences of
guest and accordingly company is giving hospitality services. Hence, before implementing these
services they are concerning their experts so that organization can know its effectiveness.
Cost and time: This is considered as an important factor that company must determine, if
the company will have ample amount of resources and money than it will enable them in
providing good quality of services and facilities right on time. Therefore, it will help them in
sustaining a better position at market area.
Communication: It is an important factor, as Oracle Hospitality Opera Cloud Service is a
company that deals in hospitality for them it is important that they utilizes latest tools
technologies so as to have a healthy relation with both customers and employees as well
(Maylor, Blackmon and Huemann, 2016.). Therefore, this medium is commonly used for
resolving the problems in an effective manner so that all the doubts are cleared.
Henceforth, Oracle Hospitality Opera Cloud Service is considering all the factors that are
mentioned above before initializing any of the plan or strategies. Thus, Oracle Hospitality Opera
Cloud Service has implemented strategies that can be easily changes with the change in course of
time.
P3 Breakdown structure and Gantt chart so as to know the provided time frame and
stages of completion
Research that is conducted by a researcher so that he/she can get additional information
regarding the project so that it can be completed by using a valid reason. Therefore, getting a
better result they optimize all the resources that are available to them so that researcher can gain
adequate knowledge which they can use for final outcomes. Apart from this, it shows proper path
to researcher and by following that they can accomplish the task in an effective manner.
Therefore, monitoring on a regular basis they can evaluate whether the resources which they
have used are applied in a better way or not. This will help the organization to take their business
operation in forward direction. Henceforth, having proper knowledge about the field also assist
them in carrying out their operations in an effective manner by understanding the requirement of

the same. Therefore it assists the organization in working in a systematic way. Some of the steps
that are essential for accomplishing the task in an appropriate manner are given below:
 To evaluate the cause for determining the research.
 Literature review
 Elucidation of issues.
 Preferences of suitable respondents for completing the research in a better manner.
 Clarify the instrumental plan
 Data analysis
Therefore, the research that is conducted includes some of the basic activities that are
according to the transformation of digital technology. Hence, it is essential that the information
that are collected are as per the relevant topic. Henceforth, Oracle Hospitality Opera Cloud
Service, while going through the whole process has followed all the steps so as to get relevant
information about the research. Thus, for expanding their business in an effective manner they
are implementing latest tools and technologies along with the innovative ideas regarding the
changes they want to do in order to attract more and more customers towards their company
(Storey, Basterretxea and Salaman, 2014). For example: organization has launched their own
application from where customers can avail their services under less time period. In literature
review, the researcher is going through the knowledge which they are having so that it can be
applied in future proceedings. In order to run a business in an effective manner feedbacks and
reviews also plays a crucial role as it will help them in knowing the value of their product in
front of its consumers. Total 20 numbers of respondents have been chosen so as to conduct the
research in a proper manner. Therefore, all the gathered information is utilized to get final
outcomes so that it can be validated.

Tools that is used for the better conduction of the research is questionnaire i.e. considered
as the basic tool in which 10 number of questions was developed along with the preferred
choices so that suitable options can be marked by the respondents. Further it will be used for
analyzing the research in an effective manner.
TASK 2
P4 Carrying out the task with the use of Qualitative and quantitative research methods for
attaining project aims and objectives
It is more important for business organization to carry out and effective research by using
appropriate methods which may leads in attaining sustainability for long period of time at market
place. For this researcher use two type of methods like primary and secondary as well (Upward
and Jones, 2016). Both are more effective for collecting relevant information towards the
company products and services. Along with this, Oracle Hospitality Opera Cloud Service use
both methods for collecting relevant information. This will aid in providing better satisfaction
level to its customers. Furthermore, there are some another method like quantitative, qualitative
and analytical for gathering as well as collecting information. In addition of this, qualitative and
quantitative methods used by company to capture valid data and information.
Primary data: It is one of the effective method in which all the authentic data grab by
researcher which is not used before. With the help of this researcher easily take better decision
and make valid conclusion in systematic manner.
Questionnaire
Name:

Age:
Contact Number:
Email id:
Q 1) Does concept of digitalization provide competitive advantage to business organization?
 Yes
 No
Q 2) Concept of digitalization provide any kind of profit to business organization?
 Yes
 No
Q 3) Is digitalization define positive impact within the firm?
 Yes
 No
Q 4) Does business organization use concept of digitalization as per market change?
 Yes
 No
Q 5) Is making alternations are important for company for its operations?
 Yes
 No
Q 6) Is company having proper fund for storing all the data and information?
 Yes
 No
Q 7) Is another significance of digitalization concept on business organization?
 Positive
 Negative
 Cant' say
Q 8) Is partnership is necessary for business organization to reduce the chances of red tapism?
 Yes
 No
Q 9) Which type of marketing modes used by company to promote their services?
 Modern marketing
 Traditional marketing

Q 10) Recommendations for business organization to implement in digitalization?
Secondary data: It is also an effective resource of collecting data and information. This
type of method helps in formulating and effective strategies to attain set goals and objectives in
most effective manner. It includes newspaper, articles, journals, magazines and many more for
gather relevant information.
TASK 3
P5 Evaluation of research and data with appropriate tools and techniques
It is important for researcher to make an effective research in order to attain better results. In this
Oracle Hospitality Opera Cloud Service easily gather relevant data which may lead in drawing a
valid conclusion in effective manner.
Theme 1: Concept of digitalization provide competitive advantage to firm.
Q 1 Does concept of digitalization provide competitive advantage to
business organization?
Frequency
Yes 18
No 2
Interpretation: From the above mentioned graph it can be summarized that, 18 people are
said that concept of digitalization define better competitive advantage in which firm improve
their productivity level by producing quality services for its customers

Theme 2: Digital technologies help in providing benefits.
Q 2: Concept of digitalization provide any kind of profit to business
organization?
Frequency
Yes 17
No 3
Interpretation: From the mentioned graph, it can be concluded that 17 respondents are
agree with this statement that digital technologies are more beneficial for business organization
to maximize overall profitability level at market place.
Theme 3: Digitalization define positive impact.
Q 3 Is digitalization define positive impact within the firm? Frequency
Yes 19
No 1

Interpretation: As the given graph, it can be assessing that, number of people are said
that concept of digitalization provides positive impact in which company enhance their
profitability level and also attain larger market share form its rivals.
Theme 4: Company use digital technologies as per current market trends.
Q 4 Does business organization use concept of digitalization as per
market change?
Frequency
Yes 15
No 5

Interpretation: From the above mentioned graph it can be summarized that, 15 people are
said that effective use of digitalization concept helps in attaining better success at market place
and also create better customers base.
Theme 5: Alternation is important for business organization.
Q 5 Is making alternations are important for company for its operations? Frequency
Yes 4
No 16
Interpretation: From the given graph it is examine that company should make effective
alternatives to modify their existing activities and in this 16 people feels that alternations may aid
in improving their performance level and profitability as well.
Theme 6: Proper funds required by company
Q 6: Is company having proper fund for storing all the data and
information?
Frequency
Yes 12
No 8

Interpretation: From the above mentioned graph it can be concluded that, proper fund is
more important for business to implement as well as formulate effective operational activities. In
this 12 proper are agree with this statement that enough fund is help in manufacturing quality
services as per customers demands.
Theme 7: Future impact of digitalization concept on business.
Q 7: Is another significance of digitalization concept on business
organization?
Frequency
Positive 10
Negative 5
Can't say 5

Interpretation: As per above graph it can be concluded that, 10 respondents are said that
concept of digitalization provide positive impact on business organization in upcoming time
frame for attaining better success.
Theme 8: Impermanent is beneficial for company for reducing the red tapism.
Q 8 Is partnership is necessary for business organization to reduce the
chances of red tapism?
Frequency
Yes 14
No 6
Interpretation: As per above mentioned graph is has been examine that, 14 people are
agree with this statement that working in partnership may help company to reduce the red tapism
in order to enhance profitability level at market place.
Theme 9: Effective promotional activities for company
Q 9: Which type of marketing modes used by company to promote their
services?
Frequency
Modern Marketing 18

Traditional Marketing 2
Interpretation: From the above mentioned graph, it can be concluded that 18 people said
that company should use modern marketing for enhancing their overall sale as well as
profitability level at market place.
P6 Appropriate recommendations in context with research in order to draw valid conclusion
As a famous business organization it is important for Oracle Hospitality Opera Cloud
Service to enhance their positive brand image at market place by servicing their quality services
to its customers as per their needs. Along with this, business organization also wants to expand
their business activities by using online platform. With the help of this they easily reach to
various people and provide them better services. In this they use social media, internet and many
more which may lead in capturing customer’s attention and market share as well. Along with
this, it is also important for manager to formulate effective marketing strategies as well as
policies in order to attain better customers base by providing them quality services. Furthermore,
Oracle Hospitality Opera Cloud Service also use effective cloud transfer in which they easily
save number of data and information which may lead them for future time frame. With the help
of this company attain better results at market place.
TASK 4
P7 Reflection on the value of undertaking research to meet objectives
At the time of conducting research, number of issues and obstacles are faced by
researcher so that it is important for them to easily assess and manage for attaining positive
outcomes. In this context the main issues are time and cost which faced by them while executing
research activities. So that it is one of the important duty of project manager to evaluate as well

as formulate appropriate strategies and project management plan to reduce the chances of arising
issues and obstacles. Dur to less time researcher take 20 people as well as respondents for getting
their views and opinion in appropriate way. On the other side improper fund is also an another
issues in which researcher fails in operating its activities in effective manner. For this project
manager use online as well as social media platform to gather relevant information which may
leads in reducing the overall cost of the project and also attain positive outcomes.
CONCLUSION
From the above report it can be concluded that, for managing a successful business it is
important to know the factors and elements that can affect the business operations directly or
indirectly. Therefore, for doing the same a research is being conducted so that flaws and positive
essentials can be evaluated. Thus, before implementing such activities it is necessary that all the
factors like geographical, environmental, economical conditions are considered. This will assist
the organization in having growth in their business operations and this will gradually help them
in attaining superior position at market area for a longer period of time.
REFERENCES
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sustainability in the age of globalization. Oxford University Press.
Drucker, P. F., 2017. The Theory of the Business (Harvard Business Review Classics). Harvard
Business Press.
Kim, S. K. and Min, S., 2015. Business model innovation performance: When does adding a new
business model benefit an incumbent?. Strategic Entrepreneurship Journal. 9(1). pp.34-
57.
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analytics and data science. International Journal of Information Management. 36(5).
pp.700-710.
Maylor, H., Blackmon, K. and Huemann, M., 2016. Researching business and management.
Palgrave.