Impact of Technology on Business Growth and Success: A Study on Tesco

BUSINESS RESEARCH
PLAN

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
Background.................................................................................................................................3
Literature review.........................................................................................................................4
Research aims and objectives......................................................................................................7
Research methodology................................................................................................................7
Sampling.....................................................................................................................................9
Accessibility................................................................................................................................9
Ethical issues...............................................................................................................................9
Significance...............................................................................................................................10
Deliverables..............................................................................................................................10
Required resources....................................................................................................................10
Time plan..................................................................................................................................11
EVALUATION OF INDIVIDUAL PLAN...................................................................................12
REFERENCES..............................................................................................................................14

TOPIC: “To determine the impact of advancement in technology upon the business growth and
success. A study on Tesco Company.”
INTRODUCTION
Background
The technology tends to have multiple positive effects upon the growth of the business. It
is significant to improve the operations of the business and makes it easier for the business to
carry out the business activities (Efobi, Tanankem and Asongu, 2018). It is useful for improving
the productivity and leads to greater success of the business. This study will determine the
impact of advancement in technology upon the business growth and success. Moreover, the
individual business plan also includes appropriate recommendation to improve business
performance by complying with advanced technology. Moreover, the technology is the latest
trend in the business and if this will not be followed then the business will not be in condition of
facing the high and intense competition in the global market. Thus, for this the adaption to the
latest technology is the only key for the success of the company.
Hence, the present research plan will assist the company in analysing the latest trends and
what will be the various challenges which the company will face in order to adapt to the latest
technology. The current research is being done on the company Tesco which is a British
multinational company dealing in the groceries and the merchandising and which is
headquartered in the Welwyn Garden City (Mian, Lamine and Fayolle, 2016). The company was
founded in the year 1919 by Jack Cohen and company deals in services like superstore,
supermarket, hypermarket and other related convenience stores. The current research plan will
outline the use of technology within the company and the impact and challenges of using the
latest technology.
Rationale
Advancement within the technology is increasing at an effective pace. This is a broader
concept and will help the researcher analyse the key results and outcomes associated with the
aim of the research plan. The investigator of the individual business plan carry out the specific
study because of the academic relevance. The investigator also had personal interest in the
specific subject matter to fill the gaps and attain better results.
Significance

This study is going to be very beneficial for further carrying out the study on the same
relevant topic and find out appropriate results. Another major reason was to understand the key
technology which has been used currently within the retail business to improve its operational
efficiency.
Literature review
Theme 1: To understand the concept behind advancement in technology.
Efobi, Tanankem and Asongu, (2018) established the relevant fact that, the technological
advancement is referred to as the discovery of new knowledge or information which helps in
advancing the understanding associated with technology. It is useful for improving the
productivity and leads to greater success of the business. The significant technologies which are
considered to be prominent for the business are artificial intelligence. It is significant in
increasing the sales of the company and also helps in automating the specific work process by
providing the predictive analysis. It also significant for the better management of the inventory
and helps in the detection of the fraud. Subsequently, Singh and Prasad, (2015) argued that,
advancement within the technology is significant to improve the operations of the business and
makes it easier for the business to carry out the business activities. Another effective technology
is augmented reality. It is useful in providing digital visual for the real world environment.
As per the views of Zhang and et.al., (2016) stated that, internet of things another
prominent technology which helps in taking advantage and is useful in monitoring the efficiency
and productivity of the business. It is prominent in speeding up the employee mobility and helps
in allowing the team members to be highly productive. Internet of things in business is
significant in monitoring and also transferring the data in order to effectively monitor the key
relevant process. It helps in boosting up the efficiency and taking effective set of informed
decision. Cloud computing is a significant technology which helps in gaining access to the data
virtually. It helps in accessing the wide set of data.
Theme 2: To critically evaluate how technology advancement leads to business growth
and success.
Rajarathnam and Vassallo, (2016) established the relevant fact that, the technology
advancement is considered to be important because it helps in improving the results and outcome
of the business. The technology advancement helps in better access to the resources and is useful
in carrying out the business operations with utmost degree of accuracy. Technology is considered