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(solved) Business Research Project

   

Added on  2020-10-05

36 Pages8384 Words330 Views
Business Research Project

TABLE OF CONTENTSLO 1.................................................................................................................................................1P1 Research proposal along with research questions, hypothesis and literature review.............1Project description ......................................................................................................................1Aims and objectives ...................................................................................................................1Reasons for choosing project......................................................................................................2Activities and time scale.............................................................................................................3LITERATURE REVIEW ...........................................................................................................4LO 2.................................................................................................................................................8P3 Description about the primary and secondary research by use of appropriate methods........8DATA COLLECTION AND ANALYSIS ..............................................................................10LO 3...............................................................................................................................................27P5 Communication about the research outcomes.....................................................................27LO 4...............................................................................................................................................28P6 Reflection on the effectiveness of research methods which applied in investigation..........28P7 Evaluate alternative research methodologies and lessons...................................................29REFERENCES:.............................................................................................................................30

Research title - The influence of digital technology on business operations.LO 1P1 Research proposal along with research questions, hypothesis and literature reviewProject description The evolution of internet has connected the world. People are now able to interact witheach other and share information in easy and simple way. Also, invention of mobile internet hasallowed people to spend leisure time and get all information on just one click. Technology hasnot only transformed human being life but also it created a great impact on business. Digitaltechnology has provided vast opportunities for business to expand their operations. It has helpedsmall business to provide services and goods to people. This has resulted in increase in numberof new business in world. The present research is based on impact of digital technology. For thisreport organisation selected is Morrison. It operates in retail sector. In present era there has been a rise in growth of organisations. This is due to use oftechnology in business operations. The information technology is a network of devices,computers, etc. that helps in communication. In the retail business sector, there is greatimportance of digital technology through which business activities and process have becomesmooth and fast. Aims and objectives Aim :- The influence of digital technology on business operations - A study on Morrison UKObjectives: To identify use of technology and its impact on integration of different businessoperationsTo identify use of digital technology in growth and development of business. To identify impact of social media on business marketing strategies.To access significance of digital technology in business. Research Questions

1.What is the importance of digital technology and its applications?2.What are the impact of digital technology on business operations of Morrisons3.What are the challenges faced by Morrison by applying digital technology?Reasons for choosing projectThe main reason behind choosing this project is to expand and gain knowledge andinformation about how digital technology has affected business operations. Further, it will helpin analysing whether technology has influenced business in a positive or negative way. Besidesthis, by conducting this research, researcher will learn the way in which organisations areutilising technologies and changes they have to make in their process or methods.

Activities and time scale

LITERATURE REVIEW Meaning of digital technologies 21st century has transformed the human life. It has changed the way of living as needs ofhumans are rising day by day. The evolution of technology has highly influenced the way ofdoing business. It has revolutionised the way of conducting business. It is said by Herterich,Uebernickel and Brenner, 2015 that over the last decade, there has been a great impact of digitaltechnology on business. It has provided a vast number of growth opportunities to variouscompanies. This has led to increase in competition among them in the market. Digitaltechnologies refer to integration of ICT that can be used in sharing information. It can be used onthe tools like mobile phones, laptops, etc. The evolution of internet has provided a platform forhumans and business to exchange information and communicate with each other. It has also ledto invention of internet of things (IOT). It is the network of physical devices, vehicles embeddedwith software, sensors and connectivity which enable these objects to connect and exchangedata. It is an emerging concept that will cover up almost everything in next decade. Businessfunctions will be operated and managed by robots and machines. Impact of digital technology on businessAccording to research done by Mohammadyari and Singh, 2015 the integration ofinformation and communication technology has provided ease to business. It has made it easy toshare information with high accuracy level. This has made it easy for business to take effectivedecisions and perform better. As per the view of Verčič, Verčič and Sriramesh, 2015, there hasbeen change in overall process and methods, it has made the task simple and more effective. Inrecent times the evolution of big data and its integration with business has helped in growth anddevelopment. Along with this, using of cloud computing in exchanging information has enlargedareas of business operations. This is the reason why business is able to expand at global level. Aselucidated by Bharadwaj, Mani and Nandkumar, 2017 organisation are now highly dependenton internet for their expansion. Now, machines are replacing humans in big organisations. It hasresulted in improvement in product quality as well as service. Also, it has helped employees inincreasing their efficiency as now they are able to perform in given time period. Stanton andStanton, 2016 elucidated that due to use of technology business are able to manage overall

functions easily. It has also helped in maintaining efficiency of task. Beside this, goals andobjectives are easily achieved by integrating each department efforts. As per the view of Dermine, 2017 many changes are done in functions of differentdepartments. For example- in production department machines are used to keep an eye on qualityof product. If any defect is their in good then it is removed. Also, each product feature isevaluated with set standards to ensure its quality. According to Grigore, Molesworth andFarache, 2018 digital technology has helped business to maintain effective relations withsuppliers and customers. Through this they are able to get connected with them so that strategiesand decisions are communicated quickly. This has changed the traditional methods to modernway of doing business. The work load can be managed by managers and task can be performedaccordingly. By this goals can be achieved in given time frame. Rise in use of technology hasconverted the task oriented work to performance oriented work. As said by Kamprath and Mietzner, 2015 it has been beneficial for company to focus onother things. This has enabled managers to identify weak areas so that it can be improved. Themajor area that has been benefited by digital technology is marketing department. Products andservices are promoted and advertised using social media. Kenney and Zysman, 2016, elucidatedthat it has created a platform through which a large number of people are attracted. Besides this,networking sites have given a golden opportunity for business to connect people with them. Thisis a very successful in advertising goods at cheap rate and with minimum efforts. Customersproblems can be solved quickly in real time basis. With this effective customer relationshipmanagement can be maintained. According to Bolden and O’Regan, 2016 many organisations have developed theirwebsite for selling their products. This is done to provide flexibility to customer as they can buygoods anywhere, anytime. Moreover, each and every information related to product is brieflydescribed. This has made it easy for people to choose the best one. In the view of Herterich,Uebernickel and Brenner, 2015 website have provided variety of product to customers tochoose from. Also, by reading the reviews of goods they are able to know its worth. Other thanthis, digital technology has helped business in diversifying their product portfolio. It has enabledthem to develop products according to needs of customers. Mohammadyari and Singh, 2015

said that it is easy to identify change in taste and preference of customers. Digital technology hasallowed business to expand their operations in remote areas. They are successfully generatingsales and profits from those. It has enabled business to provide goods to poor people to fulfiltheir needs. According to Bharadwaj, Mani and Nandkumar, 2017 remote areas are now verywell connected to business. The products are produced at low cost. It has made it easy fororganisations to get engaged with people frequently. It is estimated by Kamprath and Mietzner, 2015 that there has been a positive impact ofdigitalisation in business. This has enabled companies to implement several new tools andequipments to enhance their quality. It has been beneficial for organisation as it has providedeffective training to employees. This has improved their skills and abilities and decision makingskills. Also, by using tools they are able to complete task in more effective way. Moreover,information is shared effectively between them. They are able to communicate quickly. Therehas been positive impact on business operations. It has created a platform and vast number ofopportunities for growth and development. In the perspective of VanPatten and Williams, 2014technology is used in many areas such as process, production, storage, sales, etc. Apart from thisinnovation in technology is very beneficial for business. It has also helped stakeholders to getconnected with business so that updated information can be shared quickly.Challenges of digital technologies on business On the contrary there are many challenges that has to be faced by business. This isbecause of continuous advancements in technologies that has forced business to make changes intheir process and methods. According to Stanton and Stanton, 2016, change in methods isnecessary so that business can sustain for long time in competitive market. Moreover, it has leadto stiff competition among organisations as they try to attract more people. It is said byDermine, 2017 that it is very difficult for business to maintain the effectiveness of technology.For this they have to hire high skilled and experienced persons who can do this. Thus, it hasresulted in increase in expenses of business. Furthermore, in present times rise in cyber crimeshas been a major concern for business. It has forced companies to install separate informationtechnology infrastructure. As elucidated by Grigore, Molesworth and Farache, 2018 there hasbeen drastic change in use if technology by employees in organisation. This is because any minor

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