Business Model Innovation and Management

This assignment provides an overview of business model innovation, management strategies, and related concepts. It includes a list of references to scholarly articles and books on topics such as service orientation, managing discourse in intercultural business email interactions, and cloud computing as an innovation. The summary also mentions the importance of assessing and managing employees for embracing change and successfully managing manufacturing supplier integration and procurement issues.

Managing Successful Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and Objectives of project .............................................................................................1
P2 Project management plan.......................................................................................................3
P3 Time line and Action Plan.....................................................................................................4
TASK 2............................................................................................................................................6
P4 Conducting small scale research using research methods.....................................................6
TASK 3............................................................................................................................................8
P5 Interpretation and evaluation of project outcome..................................................................8
P6 Recommendations on findings.............................................................................................15
TASK 4..........................................................................................................................................15
P7 Reflection on research conducted........................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Inventions in technology are helping the world in modernising in a better way. These new
inventions help in advancing the technology. This is considered to be very helpful in expanding
business in an environment. Therefore, digital technology is helpful in transforming the business
activities in a better way like it has made operations easy and information storage easy. It is
successful in changing traditional business models in an organisation into a modern one (Ahmed
Dine Rabeh, Jimenez-Jimenez and Martínez-Costa, 2013). Companies that are using these
inventions has opened more opportunities and choices for them in market. So, now more
innovative products are being developed by companies so that they can match with the speed of
environment. Company which is referred in this report is Talk Talk telecom group. This is a UK
based telecommunication company providing services like television, internet access, mobile
network, internet access, etc. This report will include several things like the project will start by
discussing its aim and objectives. After that, a proper research will be conducted for collecting
and generating information related to project. Based on these information and analysis,
recommendations will be provided accordingly.
TASK 1
P1 Aim and objectives of research
In this fast changing world, it is very important for companies to make their business
advanced and all the activities should be conducted as per the requirements of company only.
Revolutionising the business market in terms of technologies is very good steps because thriugh
this all the work of companies and been made easier and it is also time saving techniques. These
modern techniques are slowly decreasing the use of traditional models that were used by
companies to perform their operations. Its impact on business in is very positive hence every
company is attracted towards it (Chesbrough, 2010). Techniques that have emerged to store more
information are like Cloud technology where company can store unlimited files and data as well
as here is no threat of losing this data or any kind of theft. This is a very safe and secured method
of storing data. Digital technology has also provided a platform to companies to expand and
promote and business and business activities. Social media is one of the platforms that are given
by modern technology. Talk Talk plc is also using this digital technology for expanding their
base in market and providing good services to its customers. They believe that they can reach
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vast no. of customers this . It has several advantages also that are associated with this inventions
as now Talk Talk can reach improve connections inside their organisation also.
Topic: How digital technology transformed the business activities:operational, marketing, HR
and accounting
Background of project:
In this fast changing business environment, companies are not getting enough time to
match the level of changes that are going on in the business environment. Talk talk should try to
conduct their researches very fast and bring new advancements in technologies so that operations
of business is not effected. Implementing changes on time will only help company in bringing
out positive changes in operational activities of company. When company will conduct research
then they will be able to known what are the needs and demands of society and customers, this is
helping company in making quality products and services (Crane and Matten, 2016). Also, inside
companies various departmental activities are also affected by these like no email system will be
conducted as there is chances of hacking in it, instead of that cloud technology will be used. In
reference to Talk Talk Company also, mobile networks and other products and services provided
by them should be as per the latest trends available in market and with latest technology then
only it will be liked by customers.
Aim: To implement digital technology for transforming business activities – A case study on
Talk Talk.
Objectives:
 To understand the needs of business transformation activities
 To identify and implement digital technology in company
 To assess the effectiveness of digital technology on business activities transformation
Research questions:
 How digital technology will be implemented in business?
 Why is it considered compulsory to transform business activities?
 How business technologies are considered effective on transforming the business?
P2. Project management plan
Preparing a management plan is always considered to be essential for company. It can be
defined as a formal document which is used to manage and execute the project. It contains the
actions that are necessary to define , prepare and integrate activities that are planned by
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company. It is considered to be important for company to ensure long term success. Talk Talk
wants to bring new changes in their business products and services and introduce new
technology for their customers (Den Hertog, Van der Aa and De Jong, 2010). For this, they are
required to show consent on all points which are described as below: Scope of project: The scope of project is very high because in this modern world, there
are many opportunities available which will support business in increasing their
profitability. So, by applying this factor, management of Talk Talk can take its business
all over the world and now, by introducing new technology like 4G network in their
mobile phones, they are striving to gain a large customer base. Risk management: Risk level is not very high here because Talk Talk is already a well-
established brand in the UK and they are having a good customer base but not like the top
telecom companies. So, management here has to look over the little risk that is associated
with this project and has to be analysed by them well on time. They have to measure the
risk and take decisions on time then only project will be able to complete on time.
 Quality control: This is one of the main factors in which companies have to work
because there are several other companies also that are already running these
technologies in market. so, Talk Talk should conduct a good study in which they should
try to know what type of services are provided by these companies and are customers
happy by them or not.
 Cost: Project cost will be very high as they are going to provide a new network in
customers mobile phones. Designing a network employs much cost into them. So,
company should be ready to sufficient amount of funds with them for managing all the
activities (Eckerson, 2010).
 Time: Proper allocation of time for conducting all the activities efficiently is very
important. Project should be implemented in fixed time period as decided in plans. All
the employees should be given enough to conduct all of their activities so that project can
be completed in an efficient manner. Talk Talk should give enough time to their research
and development department for implementing this new project successfully in market.
 Communication: For completing a project successfully, therefore should good
communication between the employees of company and all the information should be
freely shared with each other. Through this ideas and thoughts of employees will be
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reached to the employer and effective decisions can be made (Gebauer, Edvardsson and
Bjurko, 2010).
P3 Time line and Action Plan
Work Break-Down structure is a structure that consists of company's objectives and goals
which is necessary to achieve in a particular period of time and also managing them within that
time. Here work done inside companies into0 small parts so that it can be completed easily on
time. It also helps in reducing workload from a particular employee .
A Gantt chart indicates the activities that will be conducted by company for completing
the project. It is generally made in the form of pyramid.
It is very important to make an action plan while conducting research for the company.
Through action plan, work is properly executed inside companies and resources are also properly
utilized and wastage is avoided. Steps that are required to conduct research are:
 Identify the cause for which research is conducted.
 Review the literature
 Clarify the problem
 Define term and concepts of study
 Population or respondents on which research will execute
 Formulate instrumentation plan
 Collect data
 Analyse the data
All these activities will be included in the research project based on digital transformation of
business activities. Talk Talk wants to introduce a new technology for its customers i.e. 4G. This
will expand company's in market terms also and in profitability also (Incelli, 2013). This will be
considered as an issue. Further opinions of other experienced leaders and mentors will also be
taken to know that whether this business will be succeeded in market or not and it will be for
long term or short term . Once these activities are completed then a sample size will be taken
having approx 30 people on which this project will be executed and then their reviews will be
taken by company to take further decisions. So, by conducting random sampling method, 30
people will be selected . They will be given sample phones with the latest technology installed in
it. Later on , their reviews will be taken and the data which is collected will be properly analysed
by company. Then , later on appropriate decisions are taken on these basis.
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So, by implementing all such activities, action plans are prepared which the duration and
start and end date of completing a particular activity. Talk Talk is using primary source of
research to get information . So, a questionnaire will be prepared by company to complete this
purpose. 10 questions will be prepared by company which will be asked to the 30 respondents
chosen by company. These 30 people are representing 100 people at one time. These respondents
are living in London so, this data will represent choice of people living in London.
People who are doing research have to review the dates again and again and and should
conduct activities as per that only (Jones and Lubinski, 2012). This is very important for
managing the business successfully. Launching a new technology is not easy hence company
should take care of each and every activities conducted. An action plan has been designed which
is given below:
TASK 2
P4 Conducting small scale research using research methods
There are two types of research methods that can be used by company to analyse
customers demand. While conducting research, company should always use a method . If a
proper method is not used by company then it will be considered as an investigation and not a
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research, a proper format is to be followed which will help company in analysing the data and
take appropriate decisions. The two main ways in which data can be collected are:-
 Primary data
 Secondary data
These are the two data collection methods used by company to search appropriate data which
will be used by them to analyse and interpret the whole situation present in market
(Kankaanranta and Planken, 2010). It will tell that whether this project will be for long term or
short term. Talk Talk uses both collection methods to bring in the data for the company. They are
analysing that if customers will accept this new technology phone or not . Methods used while
conducting research is as follows:-
1. Qualitative
2. Quantitative
3. Analytical
Research team of Talk Talk is using qualitative and quantitative methods for achieving correct
results in long term. These techniques are very beneficial in conducting and managing the results
. First data is collected by company through primary and secondary research and then result is
analysed using these methods. These types of data are explained below:-
1. Primary data – in this data is collected through personal interviews, questionnaire etc.
Here, there is personal contact with then person whose reviews are being taken. The data
collected here is reliable as it has been collected by person originally. In this, chances if
data being corrupt or wrong is also less (Lai and Ong, 2010). A questionnaire has been
designed by Talk Talk which will be distributed to 30 respondents selected.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Is introducing new technology favourable for Talk Talk?
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a) Yes
b) No
Q2. Will this addition in company provide them long term benefit?
a) Yes
b) No
Q3. What kind of impact will be faced by company when digitalized?
a) Positive
b) Negative
Q4. Does Talk Talk actually requires this digitalization?
a) Yes
b) No
Q5. Does the customers who are using old technology would shift to this new network?
a) Agree
b) Disagree
Q6. Does the company has sufficient resources for bringing in this digitalisation ?
a) Yes
b) No
Q7. What kind of reactions that company will face after launching this new network?
a) Positive
b) Negative
c) Neutral
Q8. Will it help in expansion of company?
a) Yes
b) No
Q9. Can company run successfully if they'll not introduce this new network?
a) yes
b) NO
Q10. Any suggestions for implementing digitalisation in a better way?
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2. Secondary data – It is a type of data which is not collected originally instead of that
data which has been previously collected is used here to take decisions. Sources of information
used here are journals, articles, news letters etc.
Case Study 1: Whenever Talk Talk is planning to invention some new technology in market ,
there main aim should be to make such products that are reliable and easy to adopt. Company's
mission is to provide good telecom services to its customers so they should work in that
direction itself . So they should maintain this and bring changes with respect to time.
Case Study 2: Talk Talk is a well known brand in UK. This is used by many people but mainly
by youngsters. So, introduction of new technology will attract more customer base towards them.
So, they should introduce some gadgets which can be used by old age people also which can be
easily understandable to them and not complicated.
TASK 3
P5 Interpretation and evaluation of project outcome
Data interpretation is very important for companies to know what has been come in data
analysis. After this only, company will be able to tale appropriate decisions. Talk Talk prepared a
questionnaire which was distributed to 30 respondents of London. So now the data which has
been collected by them will be analysed well and correct interpretations will be given.
Q1. Is introducing new technology
favourable for Talk Talk?
Yes 18
No 12
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Theme 1: Digitalisation is favourable for company
With the introduction of new technology in modern work environment, digitalisation is
very important . Digitalisation doesn't only mean to enter online ,it is also associated with
introduction of new technology. So, according to 18 respondents, introducing new technology
will work in favour of company but as per 12 respondents, company will not be able to tackle
this.
Q2. Will this addition in company provide
them long term benefit?
Yes 20
No 10
9
Yes No
0
2
4
6
8
10
12
14
16
18
20
Yes No
0
5
10
15
20
25

Theme 2: Addition to company's long term benefit
When we are seeing so many inventions in today's generation, then future will be far
more developed from today. So, by following this concept, if any company is bringing
digitalisation in its business then it will be really profitable for them and will give them success
in long term surely. Thus, Talk Talk have to follow this tool for making their operation long term
beneficial. They are already having advancements in their work environment. So , as per 20
respondents it is very important for long term benefits.
Q3. What kind of impact will be faced by
company when digitalized?
Positive 22
Negative 8
Theme 3: Impact of digitalisation in company:
From the above data, it can be concluded that 22 out of 30 people believe that company
will receive a positive impact if they will bring thus new technology.
Q4. Does Talk Talk actually requires this
digitalization?
10
Yes No
0
5
10
15
20
25

Yes 19
No 11
Theme 4: Requirement of Digitalisation in Talk Talk
From the above data, it can be concluded that 19 out of 30 people believe that Talk Talk
requires digitalisation in its business.
Q5. Does the customers who are using old
technology would shift to this new network?
Agree 15
Disagree 15
11
Yes No
0
2
4
6
8
10
12
14
16
18
20

Theme 5: Shift from old network to new network
From the above data, it can be said that 15 out of 30 people can shift to this new network
but half of them will still be using the old one.
Q6. Does the company has sufficient
resources for bringing in this digitalisation ?
Yes 21
No 9
12
Yes No
0
2
4
6
8
10
12
14
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Theme 6: Availability of Sufficient resources for digitalisation
From the above data, it is concluded that 21 out of 30 people believe that company is
having sufficient resources for developing a new project for the company.
Q7. What kind of reactions that company
will face after launching this new network?
Positive 15
Negative 10
Neutral 5
13
Yes No
0
5
10
15
20
25

Theme 7: Reactions of customers after using this network
From the above data , it can be seen that out of 30 only 15 people will react positive , 10
will react negative and 5 will be neutral.
Q8. Will it help in expansion of company?
Yes 25
No 5
Theme 8: Expanding business of company:
From the above data it is clear that , 25 out of 30 people believe that company will
expand a lot in terms of market and profit. So, digitalisation should be conducted.
Q9. Can company run successfully if they'll
not introduce this new network?
Yes 10
No 20
14
Yes No
0
5
10
15
20
25
30

Theme 9: company's position without this network:
From the above data it is clear that, oyutof 30 only 12 people think that company will stil;
run if they will not run this technology but 20 out of 30 people think that company will not be abl
e to run in market.
P6 Recommendations on findings
Talk Talk is a well established company in UK market. They are running successfully
since many years. They have started as a small business and gained a huge market share slowly
and slowly. They actually doesn't need to introduce these changes in their companies operations
because it is very good in it. But market is growing really fast so company has to match with it as
because of these changes preferences of customers are also changing. This is the major reason
because of which company is introducing this innovation. This will benefit company only as
because of this, company will be able to maximise its market share and operations. But several
things have to implement by senior authority in making operations effective and appropriate and
to make sharing of data easy, for this cloud computing can be used by company for sharing and
storing data. Because of this, management can easily transfer their data from one network to
another on frequent basis. Also, it can be easily accessed from any place and any time. So, if any
15
Yes No
0
5
10
15
20
25
Column B

senior authority wants to open any file then they don't need juniors every time instead they can
download it from from their cloud.
Cloud computing technology is very helpful in business activities as it keeps all of them
connected and there are less chances of data getting hacked or stolen. Talk Talk is also launching
a big network so all the important information related to th9os project should be kept in cloud
only. So, these are few of the recommendations that are tio be implemented by Talk Talk in its
business operations to be effective.
TASK 4
P7 Reflection on research conducted
Conducting a research is not an easy task. There are always several problem that are
faced by company whole implementing the project. So, it is required that project manager should
take care that all the activities are being conducted in correct way . Also, an efficient project
manager should be appointed by company who can handle all the issues related to the project in
an efficient way. When I was conducting this research, I faced a lot of problems like more was
taken to complete an activity than allotted to them. Resources that were used in project were very
costly than it was before, so shortage of funds were also faced. The sample respondents that were
selected were asking more time in giving answers of the problems and they were also not able to
communicator properly. The budget allocated in the file was also low which caused problem in
conducting activities in an effective way. But, I tried to manage the whole situation and
complete m research. In this project, internet helped me a lot in providing information related to
different task which was to be performed in this project. I tried to communicate with all the
people working in project in an effective way and useful informations are provided to them.
CONCLUSION
From the above report, it can be stated that a proper research is always required before
starting any new operations of the company. It helps companies to know the exact result and
reviews of the project. For conducting research, company has selected a sample size in which
people who have used the project will give their reviews and it will be measured by the
company. Analytical tools are used by company to measure the results and then taking any
beneficial decision for them. Research should be conducted by company very properly and
make sure that no mistake is conducted by them. There are several types of designs and theme e
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also that are implemented by company to make the project effective and attractive. So, by
reviewing the whole file it can be concluded that digital technologies have a very huge impact of
small and medium sized organisations.
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REFERENCES
Book and Journals
Ahmed Dine Rabeh, H., Jimenez-Jimenez, D. and Martínez-Costa, M., 2013. Managing
knowledge for a successful competence exploration. Journal of Knowledge
Management. 7(2). pp.195-207.
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning. 43(2). pp.354-363.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Den Hertog, P., Van der Aa, W. and De Jong, M.W., 2010. Capabilities for managing service
innovation: towards a conceptual framework. Journal of service Management. 21(4).
pp.490-514.
Eckerson, W.W., 2010. Performance dashboards: measuring, monitoring, and managing your
business. John Wiley & Sons.
Gebauer, H., Edvardsson, B. and Bjurko, M., 2010. The impact of service orientation in
corporate culture on business performance in manufacturing companies. Journal of
Service Management. 21(2). pp.237-259.
Incelli, E., 2013. Managing discourse in intercultural business email interactions: a case study of
a British and Italian business transaction. Journal of Multilingual and Multicultural
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Jones, G. and Lubinski, C., 2012. Managing Political Risk in Global Business: Beiersdorf 1914–
1990. Enterprise & Society. 13(1). pp.85-119.
Kankaanranta, A. and Planken, B., 2010. BELF competence as business knowledge of
internationally operating business professionals. The Journal of Business
Communication (1973). 47(4). pp.380-407.
Lai, J.Y. and Ong, C.S., 2010. Assessing and managing employees for embracing change: A
multiple-item scale to measure employee readiness for e-business. Technovation. 30(1).
pp.76-85.
Lin, A. and Chen, N.C., 2012. Cloud computing as an innovation: Percepetion, attitude, and
adoption. International Journal of Information Management. 32(6). pp.533-540.
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Shang, S.S., 2012. Dual strategy for managing user resistance with business integration systems.
Behaviour & Information Technology. 31(9). pp.909-925.
Smith, A.D., 2011. Successfully managing manufacturing supplier integration and procurement
issues: case studies in recessionary environments. International Journal of Procurement
Management. 4(2). pp.121-138.
Smith, W.K., Binns, A. and Tushman, M.L., 2010. Complex business models: Managing
strategic paradoxes simultaneously. Long range planning. 43(2). pp.448-461.
Trimi, S. and Berbegal-Mirabent, J., 2012. Business model innovation in entrepreneurship.
International Entrepreneurship and Management Journal. 8(4). pp.449-465.
Online
Introducing Research Methods. 2017. [Online]. Available
through :<https://www.skillsyouneed.com/learn/research-methods.html>. [Accessed on
27th October 2017].
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