Digital Disruption and Transformation Doc
Added on 2021-01-01
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Managing a SuccessfulBusinesses Project
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 Project aim and objectives for chosen scenario................................................................1Research Questions................................................................................................................1Aim.........................................................................................................................................1Objectives...............................................................................................................................1Research Rationale ................................................................................................................2P2 Project Management Plan ................................................................................................2Project Scope.........................................................................................................................2Background of the study.........................................................................................................3Literature Review...................................................................................................................3Project cost ............................................................................................................................4Project communication...........................................................................................................5Resources................................................................................................................................6Project risk..............................................................................................................................6P3 Work break down structure and Gantt chart ....................................................................7LO2..................................................................................................................................................7P4 Small scale research by qualitative and quantitative research methods...........................7Research methodology ..........................................................................................................7LO3..................................................................................................................................................9P5 Analysis and findings .......................................................................................................9P6 Conclusion and Recommendation .................................................................................11LO4................................................................................................................................................12P7 Reflection on the values of undertaking research to meet the stated objectives and ownlearning and performance.....................................................................................................12REFERENCES..............................................................................................................................13Appendix 1.....................................................................................................................................15
PROJECT TITLETo evaluate strategies that used by the businesses for coping up with the major challenges ofdigital disruption and transformation: A study on Marks & Spencer (M&S)INTRODUCTIONWith the continuous rise in implementation of digital technology, there are somechallenges that need to be faced by any organisation. Digital disruption are analysed as changesthat occurs when new digital technologies and businesses models affect the value preposition ofexisting goods and services . The continuous rise in the use of mobile devices for personal useand work. Digital transformation sometimes considered as consumerism of informationtechnology which has increased the potential of digital disruption across various industries. In retail industry, there are various business enterprises which are facing challenges aftermaking implementation of new digital technologies at workplace. Transformation of businessmodels due to application of technologies has also affected the value preposition of existingproducts and service of organisation in market. Present research has been carried out with an aim of analysing various ways forbusinesses to cope up with major challenges of digital disruption and transformation. For thisresearch, Marks and Spencer is taken in to consideration which is an international retailenterprise. Company has its various stores across various countries but they decided totransform their clothing business online platform. P1 Project aim and objectives for chosen scenarioResearch QuestionsWhat is the concept of digital disruption and transformation for business?What are challenges of digital disruption and transformation for M&S?How business has coped up with challenges of digital disruption and transformation?AimTo explore the ways for coping up with major challenges of digital disruption andtransformation in the context of Marks and Spencer.ObjectivesTo analyse concept of digital disruption and transformation for business
To ascertain the challenges of digital disruption and transformation for M&STo identify the ways for M&S to cope with challenges of digital disruption andtransformationTo recommend and suggest strategies for application of ways to cope up with thechallenges for M&SResearch Rationale Rationale behind conducting this research was to gain knowledge and understandingabout various challenges of digital disruption and transformation. Multiple research strategieshave been applied which helps in improving the performance level. There are various importantaspects that have been covered in research which helps in development of conceptual knowledgeabout current issues faced by organisation due to digital disruption and transformation.Collection of data from secondary resources will help in conducting critical analysis of argumentof different researchers. Thus, researcher will get to know about the ways through whichbusinesses will cope up with challenges of digital disruption. P2 Project Management Plan Project Management Plan is analysed as an essential part of investigation which helps thescholar in identification of sequence as per different activities and tasks to be accomplishedduring research process. Development of project plan is considered as important as it aidsscholar in preventing overlapping of activities and ensuring appropriate utilization of resources.There are various important elements of project management plan such as cost, quality, time,scope, communication and resources. Project ScopeIt is a part of project planning that includes determination and documentation of list ofspecific goals, deliverable, characteristics, important functions, activities, deadlines and cost.This business research has been conducted with the scope of analysing various important ways ormethods for businesses to cope up with challenges of digital disruption and transformation.Project deliverables are the outcomes achieved by scholar after completion of research. In thisresearch, deliverable will be the ways used by company to cope up with challenges of digitaldisruption and transformation.2
Background of the studyIn this competitive environment, digital technology is widely adopted by organisation intheir business models and processes to attain competitive advantages in market. Thesetechnologies have incurred various changes in business and provided recognition to products andservices in market. Digital transformation is considered as the profound transformation of business andvarious organisational activities, competencies, processes and models to fully leverage changesand opportunities of a mix of digital technologies (Rotman, 2013). In retail industry, companyhas provided major focus on application of various new technologies in their business because itis beneficial for them to attain objectives. Main objective of business is to maximize profits and they must implement digitaltechnologies to transform their business (Pardo, 2013). However, digital disruption andtransformation have created major challenges for these enterprises to operate with new businessmodels. In this research, Scholar has carried out an analysis on M&S which is a retail businessenterprise. There are some issues and ways to cope up with these challenges for citedorganisation will be identified by scholar in this research. Literature ReviewAccording to Buguin and et.al, (2013), digital disruptions are usually analysed as issueswhich occurs after involvement of technologies in any business model. Organizationsundergoing digital transformation have achieved increased market share, customers’engagement, and increase in employee morale and rise in customer revenue. Participants in thestudy reported that their companies have faced various challenges after this transformation. Hirt and Willmott, (2014) stated that, employees pushback is the major challenge whichhas created issues for enterprise after implementation of digital technologies for completion ofdifferent business activities. This digital transformation has provided a feeling of threat of lay offto employees because technologies have continuously reduced requirement of employees.Further, lack of expertise to lead the digitalization initiatives is another challenges for enterprisebecause organisation also needs qualified employees at workplace who are capable ofimplementing and adopting new technologies (Piercy, 2016). In retail sector, companies havingmore than 5000 employees are also facing this issue as they do not have expertise who can leadand implement initiatives of digitalization of business process and initiatives. Actions of3
organisation to resolve these challenges provide threat of retrenchment and lay off to existingemployees at workplace. According to Bharadwaj and et.al, (2013), Digital transformation is considered as substantialinitiative and usually require changes in more than the employees daily routine. This can beinterpreted as transformation of roles, departments and overall organisation structure. Changesin overall structure is very critical for organisation as it creates conflicts between managementand employees at workplace. Huge requirement of budget and resources is also considered challenge of digital disruption andtransformation for businesses. Implementation of new technologies requires wide technicalresources and expertise which needs to arranged by organisation. According to Brynjolfsson and McAfee, (2012), in order to cope with the challenge ofemployee pushback, it is essential for company to completely resolve doubts and uncertaintyfrom employee's mind and they can also certainly alleviate them. Being consistent andtransparent in front of employees is the key to face this challenge. Company should keep theiremployees informed and involved through whole process of digital transformation (Westerman,Bonnet and McAfee, 2014). By providing training for developing experience and competencieshave provide support to retail business enterprise to achieve employee satisfaction. According to Loebbecke and Picot, (2015), it is important to develop a company widedigital transformation strategy in which company need to clarified a vision, set goals to reachthat vision and providing a purpose to whole team. This aid the management to resolveredundancies and increase the involvement of employees to attain the business goals and visioneffectively. Further, company should hire expertise who able to operate technology and providesupport to organisation by attracting more customers (Buguin and et.al, 2013). It is also essentialthat organisation structure will be fluid because the new frontier of technology and customerexperience will require it to be like this. Further, when company build strategies of digitaltransformation, it should use budget as reality check to consider how much they can handle andcreate a plan for appropriate utilization of resources. Project cost There are various important expenditure have been considered which needs to beincurred by scholar for execution of research. Some important expenditures are travelling,4
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