Assignment on the Managing Successful Business

Managing Successful
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives....................................................................................................1
P2 Project management plan that covers aspects of cost, scope, quality, time communication,
risk and resources........................................................................................................................2
P3 Work breakdown structure and Gantt chart...........................................................................4
TASK 2............................................................................................................................................6
P4 Small-scale research by applying quantitative and qualitative research methods.................6
TASK 3............................................................................................................................................8
P5 Data and research using appropriate tools and techniques....................................................8
P6 Communicate appropriate recommendations......................................................................17
TASK 4..........................................................................................................................................18
P7 Value of undertaking the research to meet stated objectives...............................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
.......................................................................................................................................................23

INTRODUCTION
Introducing the new digital technologies in activities of business is helpful in gaining
some competitive benefits from the market place. It provides many advantage to organisation
and also give its contribution in growth of the business. Technology is helpful in the business
transformation and it helps in increasing the revenue of company. This business report is based
on the Victorinox company and it deals in producing of watches. Digital technology gives an
opportunity to business company so that it can sustain at work place for long period of time in an
effective or better manner. Its main benefit to promoting services and products in a proper
manner for earning the more profit. Under this given report mentions about project management
plan which covers aspect of the scope, quality, cost and also resources. The business firm
conduct small scale research with the help of applying the qualitative and quantitative methods
of research for meeting with the objectives and also aims will be discussed under this report
(Andersson, H. and Tuddenham, P., 2014.Busarovs, A., 2011Kasemsap, K., 2016. Langer, A.
M., 2017).
TASK 1
P1 Project aims and objectives
In this present time period, with changing environment of business, demands and wants
of consumers are changing quickly. So it is necessary for each company to fulfil needs and wants
of customers in context to increase sales and achieve the more profit. In this, it is essential for
every business firm is to do its business activities by using effective technology. With the help of
this, company can sere the better services to consumers in a systematic or proper manner. In
context to this, each business firm need to determine appropriate or proper steps and develop
strategies by which they can do this business operations in advance. For promoting the business
activities or products, market department of Victorinox company uses print media, social media
and many other methods. Through this large number of people will be aware about the firm
services. On the other hand cloud technology provides company to store data or information and
then share from the one location to other in minimum period of time. Technology provides the
various number of channels related to communication so that Victorinox company can convey
value and advantages of products and services to the target consumers in an effective or better
manner. These all are helpful in enhancing effectiveness and efficiency of activities of company
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and give contribution towards sustainability or development of an organisation. But at the time
of adopting new technologies , there will be need to Victorinox company for spending more
money on equipments and also machineries.
Technology is helpful in bring cooperation and coordination between business
operations. It helps top management in searching all deviations and then remove all of them in a
proper manner.
AIMS: “The impact of digital technology supporting small business growth and innovation”.
OBJECTIVES:
 To determine an impact of digital technology execution on business operations.
 To examine efficiency of digital technology using on activities and operations of
business.
 To evaluate requirements of transformation of business operations.
RESEARCH QUESTIONS:
 How digital technology impact on execution of digitalisation on business operations.
 What is efficiency of digital technology using on activities and operations of business?
 What are requirements of transformation of business operations?
P2 Project management plan that covers aspects of cost, scope, quality, time communication, risk
and resources
It is necessary for Victorinox company to develop effective or better plan related to the
project management in context to achieve the predetermines aims and goals in an effective
manner. Project management plan is a kind of formal document which is used to manage the
execution of plan. It explains that how project is implemented, controlled and also be closed.
Plan is helpful in doing work in a systematic manner and also administering correct path at the
time of execution of different activities in a proper manner. The organisation makes plan so that
all staff members can do this work in a systematic manner and also achieve organisational
objectives in a proper manner. It will be helpful in providing the long term advantage to an
organisation. Along with this, it is helpful for employer in managing the cost, risks, quality,
communication, scope etc. Generally, there is a requirement of developing project management
plan to make it successful and also useful. Under this kind of plan, Victorinox company wants to
develop its business operations on the online platform with the helps of using advanced or digital
technology. In order to this, it is necessary for this company to consider all given aspects:
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Scope of project- From technology advancement, demands and preferences of
consumers changes quickly. Under this present scenario, there are several opportunities for
growth of small businesses which are sustaining business environment. It will be helpful in
getting more benefits to company for providing the more variety of goods and services to
consumers.
Risk management- In each business firm, risk in involved. In project, there are different
types of risk are consists. In order to this, it is essential for the Victorinox company to includes
all necessary factors which can cause the risk (Liebowitz and Frank, 2016). Before execution of
the project management plan, it is important for employer to evaluate all risks which is regarded
with the project so its impact can be minimised. In addition to Victorinox company, risk chances
are high as this company is not very popular in watch brand. It is essential for this firm to bear
more risks.
Cost- If the project will be big then their costs will also be high. In regards to this it is
essential for an administrator to arrange and also manage funds in a proper manner through
using the different sources. In context to implement project in a successful manner, company
should have more finance.
Quality control- Under this whole project, aspect of the quality is very important. If the
quality will be good, then in this case project will be effective. Under this, it is a duty of an
administrator to mange better products quality through involving effective or beneficial
components. Victorinox organisation provides better quality of watches to consumers and
maintain the same.
Time- For completion of specific products, there is a need of more time. It is necessary
for employer to keep maintain all activities which are necessary for completing project time.
Communication- It plays a necessary role in making the business successful. In addition
to this, firm need to select the effective channels of communication so that it can communicate
information and message to staff member as well as consumers in an effective manner (Lientz,
and Rea, 2016). Under this Victorinox requires to assure to make the strong communication
between all departments so that the project can executes in a proper manner. If the
communication among staff members will be proper then they all will work together and
complete project on particular period of time.
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P3 Work breakdown structure and Gantt chart
Work breakdown structure- It is a project deliverable which organise work of team in
to the manageable sections (Michl, Gold and Picot, 2012). Under this, company divide the
projects in to the manageable and simpler tasks. With the help of this employers can work in a
easy manner and they can focus on achieving the aims and objectives of an organisation. In order
to implementing project in an effective manner, project manager uses this kind of method.
Illustration 1: Work break down
structure
The main benefit of conducting a research is to assist an organisation in gathering more
amount of information and data which is concerned to consumer's preferences which facilitates
management in order to making effective decisions related to increase of business organisation
activities. In order to execute the activities of research in a proper manner, it is essential for
researcher to prepare a proper action plan what an administer guide to a researcher. There are
some steps are consist in research which are given below:
 Determination of aims of research.
 Literature review
 Determine problems
 Explain concept of project
 Choose sample size
 Prepare plan
 Analysis data
Under research, these all steps are included (Nograšek, 2011). This kind of research is
depend on the technology transformation.
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