Business Activities Essay of Harrods ltd
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Added on 2020-07-23
Business Activities Essay of Harrods ltd
Added on 2020-07-23
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Business research project
TABLE OF CONTENTSTITLE..............................................................................................................................................1P1 Research proposal that clearly defines a research question supported by a literature review................................................................................................................................................1Literature review....................................................................................................................2P2 Suitable research methods and approaches to primary and secondary research...............6M1 Justification based on research methods..........................................................................8P3 Primary and secondary method research by using appropriate methods..........................8P4 Utilising suitable analytical tools, analyse research findings and data...........................10M2. Drafting the designs and methods of data collection...................................................20D1. Justification of techniques of data analysis...................................................................20P5 Communicate the outcome of research...........................................................................20M3. Demonstrating the research outcomes achieving objectives and questions.................20D2. Justification and valid recommendations based on research outcomes.........................21P6 Reflection of effectiveness of research methods applied for meeting business objectives21Reflection.......................................................................................................................................21P7 Considering alternative research methodologies.............................................................21M4. Personal critical reflection presenting the recommendations and actions for futureresearch study.......................................................................................................................22D3. Recommendation actions for future improvements.......................................................22REFERENCES..............................................................................................................................23Books and Journals...............................................................................................................23
TITLEThe impact of digital technology on business activities of Harrods limitedP1 Research proposal that clearly defines a research question supported by a literature reviewTechnology has provided a much required boost to organisations at time of competing inlarge markets against large competitors. Behind every business operations aim and motive ofevery business enterprise is to maximize profitability in order to achieve high growth anddevelopment in market (Shaw and et.al., 2012). Rapid advancement of technologies hasrevolutionized ways organisations conduct business by enabling small business to level playingfield with large scale enterprises. Owners of business enterprises always use technology toreduce business costs (Armstrong and et.al., 2015). They have increased their investments indigital technology in order to effectively promulgate effectiveness in quality (Oldham and DaSilva, 2015). In present context, Research proposal has made by researcher with an aim toexamine impact of digital technologies on marketing strategies and operations in Harrods Ltd,London city. Analysis of literatures have been accomplished in order to understand howinfluence of digital technologies and their implications have affected day to day functions ofmarketing department and increases efficiency in implementation of promotional practices alongwith efficiency in customers services. Below given are aims and objectives of this researchproject.Aim- To analyse the impact of digital technology on marketing- A study on Harrods Ltd.Objectives:To understand concept of digital marketing on business operations.To identify relationship between digital marketing and marketing department.To evaluate impact of digital technology on marketing at Harrods Ltd, London, UKTo recommend strategies to improve marketing operation through digital technology atHarrods Ltd., London, UKResearch QuestionsWhat is concept of digital marketing on business operations.What are relationship between digital marketing and marketing department.What is impact of digital technology on marketing at Harrods Ltd.Reason for choosing this research project:1
For undertaking research, I have built my own interest in this particular area and sector. I havechosen this project in to carry out an analysis of importance of digital technologies on business.In this study, I have implemented various strategies which provide support in makingimprovements in level of performance in appropriate direction. In this manner, this study willprovide assistance towards development of my own comprehending as well as understandingskills. I also have an interest in collecting data and conducting surveys which is beneficial for meto conduct an appropriate and getting appropriate results. Further, it will tend to raise my overallgrowth and development and I will be able to built a successful career in retail sector. Thus, Iwill achieve knowledge related to implications of digital technologies in improving efficiency oforganisation's business operations.Literature reviewReview of literatures of various scholars and authors has been analysed by researcher inorder to gain proper understanding about outcomes of their research on impact of digitaltechnology on business operations of companies whether small or international businessenterprise (Royle and Laing, 2014). This literature have provided major support in identificationof ways for accomplishment of proper research by collecting relevant information.According to Nambisan, (2013), Digital technologies are major source of providinginformation about new products and services to customers. In UK, small business enterpriseshave continuously adopted new and effective digital technologies which has provided themchance to excel in business and increased their sale of products in market. As per Ryan, (2016),digital technology have been emerged as important technique, which has provided support toHarrods limited in increasing promotions of products and services easily across countries. It hasbeen identified as significant for company to reduce its costs of marketing and promotionalpractices. Earlier, large of funds was required for organisation to promote their business butintroduction of digital technologies in marketing has reduced expenditure of company ofadvertisement and promotions of products and service in market. As per review of Buckingham, (2013), “at present there are more than 1 billion users ofsmartphone in UK, which is considered as major step towards digitalization. Nowadays peopleare more focused towards using internet and other online applications for buying and selling ofproducts and services”. Statistics provided by government authorities have also stated that2
continuous increase in digitization has provided various opportunities for companies to expandtheir business and establish new units. This introduction of smart communication channels andsocial media applications have improved trend of marketing and provided a platform to increasepromotion of products and service across world in just few seconds. On contrary to this Järvinenand et.al., (2012), Along with rise in profitability, digital technologies have also raised someissues for organisation like Harrods such as lack of qualified workforce, rise in competition,continuous change in customers preferences, unethical activities etc. All departmental stores inUK have moved towards use of digital technology in market which has raised increasedcompetition and rivalry. Apart, companies are also facing problems in hiring of qualifiedcandidate who are able to use those latest technologies and they have to pay them high salarywhich has increased their labour costs. Moreover, as compared to expenditure, companies areearning are high amount of profitability. Thus, implementation of digital technology isconsidered as beneficial for them and provide positive impact on their marketing.Kannan, (2017), has stated that there are some technical barriers also arises inoperations of company like internet problems, lack of understanding about digital marketing andlack of securities. Further, they will also face some financial problems because they do not haveproper financial infrastructure. According to Obal and Lancioni, (2013), there are various categories of digital marketingproducts which are available in market, organisations can also select various types oftechnologies for their business. On contrary to this, Dennis and et.al., (2012) stated that there aresome important solutions are available for company to reduce problems related to digitization.Major step is reduce costs of purchasing products of digital marketing. Then it is also importantfor company to increase about digital technologies and marketing among customers along withuse of internet appropriately and increasing efficiency of staff through training (Livingstone,(2012). As per marketing analysis, companies has developed an perception that utilisation ofdigital communication and techniques have provided major benefits as compared to issues andconsidered as importance for business expansion but they have accepted fact that it is verycomplex to use and manage digital technology in business. There is requirement of highlyspecialized individuals who have proper understanding about resources and techniques forresolving issues. As per Neuman, W.L., (2013), around 40% of small business enterprise in UKcannot achieve their objectives due to lack of proper digital marketing resources. Moreover,3
government have taken a step forward and organising some programs which will help owners ofSMEs towards achievement of objectives. Companies are required to be informed about costsand other barriers towards use of digital techniques so that they can take support of governmentto adopt digitization and tends to develop competencies of employees to use digital technologies.As per review of Nambisan, (2013), marketing department of companies should makecontinuous efforts towards introduction of these technologies within enterprise to improve sale,profitability and business performance. (Buckingham, 2013) has said that “ when companiesmake amendments in their marketing functions there are some changes arise in there businessobjectives as well”. Presently companies have focused towards adopting e commerce and raisingprofitability which is considered as useful for development of their business as well as increasingprofitability which tends to raise growth and development of business operations. Further, thereare some difficult situations also occurs which have been made possible due to explosion ofdigital technologies.Activities and timescalesActivity1thWeek2ndWeek3rdWeek4thWeek5thWeek6thWeek7thWeek8thWeek9thWeek10thWeekIdentificationofresearch topicReviewofLiteratureDraftingMethod4
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