Effect on Developing the Productivity and Profitability of the Company
Added on 2020-10-05
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RESEARCHPROJECT
ContentsTITLE..............................................................................................................................................3INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Produce a research proposal that clearly defines a research question or hypothesissupported by a literature review.............................................................................................3P2 Examine appropriate research methods and approaches to primary and secondary research................................................................................................................................................9TASK 2..........................................................................................................................................10P3 Conduct primary and secondary research using appropriate methods for a businessresearch project that considers costs, access and ethical issues...........................................10P4 Apply appropriate analytical tools, analyse research findings and data.........................13TASK 3..........................................................................................................................................21P5 Communicate research outcomes in an appropriate manner for the intended audience.21TASK 4..........................................................................................................................................22P6 Reflect on the effectiveness of research methods applied for meeting objectives of thebusiness research project......................................................................................................22P7 Consider alternative research methodologies and lessons learnt in view of the outcome’s23CONCLUSION..............................................................................................................................23REFERENCES ............................................................................................................................24
TITLE“To analyse the impact of applying new technologies in organisation and its effect ondeveloping the productivity and profitability of the company”. A case study on Tesco plc. INTRODUCTIONDigital tools and technologies is having a deep impact on the activities which are going inthe company. They have brought a vast change in the way business is conducted. Earlier all thefunctions of the companies were conducted as per the traditional models but now it has beenmodified and organisations are more interested in doing all the activities in digitalized manner asthey believe hat through this they will be able to gain more amount of profits in less time(Camisón and Villar-López, 2014). These technologies are also considered in trend and that iswhy it is being implemented by each and every company so that they can achieve highprofitability and productivity in the company. Only, it is required to be made sure that thesetechnologies should help the company to achieve their gains and objectives of the company. TESCO plc is a multinational company which is doing their operations all around theworld in an effective and efficient manner but there is scope of improvement in every companyand TESCO can also bring changes in the company if they will implement new and innovativetechniques in the company. For this, the organisation will have to go through a systematicprocess which the management will conduct so that changes can be brought in the company in aneffective manner. TASK 1P1 Produce a research proposal that clearly defines a research question or hypothesis supportedby a literature reviewIt can be said that there are so many tools and technologies which are being implementedin the business environment and because of these companies are achieving high amount ofgrowth and profitability in the marketplace as well. Since there are so many kinds oftechnologies so companies can implement it as per their needs and wants as it is very essentialfor them to implement new and innovative technologies which matches with the activitiesperformed in the company so that positive changes can be brought in the market. In context withTESCO, they are doing their operations all around the world and thus they need to find new and
innovative ways to do their business so that all of their activities can be conducted in moreproper manner. It is a big sized company so their main purpose will be to gain more and more amount ofprofits so that they can earn more amount of profits and gain a strong customers base as well.These technological advancements will help them in taking more challenges and opportunitieswhich are present in the marketplace so that they can achieve growth and development in aneffective manner. TESCO plc is also thinking in a broad manner to implement new tools andtechnologies in the company so that growth can be achieved in the marketplace. Through this,they will be able to face the competition which is present in the market and compete with theirrivals as well. With the help of technologies, TESCO will also be able to get to know about theneeds and wants of the customers and they can make use of it to produce and gather productsaccording to that itself. It is very important for the companies to make use of innovative and creativetechnologies in the company because through this skills and abilities of the employees will beenhanced and issues which are present in the business will be solved by this as well. It is alsorequired that the researcher should have proper knowledge about the topic and so that researchproject can be conducted in effective manner and goals of the company can be achieved as well(Epstein 2018). It is also considered crucial for every company to attract more and morecustomers towards their company so that they can gain maintain an appropriate image in themarket. This will be effective for them in gaining more and more profits of the company in themarketplace as well. In TESCO plc, technologies can help them in segregating variety of theirproducts as per the needs of the customers and they will not have to face any kind of trouble insearching for the products they want. Research Aim The essential aim for this particular research is - “To analyse the impact of applying newtechnologies in organisation and its effect on developing the productivity and profitability of thecompany”. A case study on TESCO plc. Research ObjectivesThe questions which are prepared for this research project are as follows:To ascertain the factors which help in applying new technologies in the company.
To analyse the effectiveness of new technologies in improving the performance of theorganisationTo identify several issues which a company goes through while bringing new changes atthe workplaceTo provide recommendations about the usage of digital technologies through whichcompanies can gain higher productivity and profitability. Research Question1.The questions which are being prepared in the research project are as follows:2.What are the ways to ascertain the factors which help in applying new technologies in thecompany?3.How to analyse the effectiveness of new technologies in improving the performance ofthe organisation?4.How to identify several issues which a company goes through while bringing newchanges at the workplace?5.Provide recommendations about the usage of digital technologies through whichcompanies can gain higher productivity and profitability?Literature reviewLiterature review provide in depth knowledge and understanding of specific topic. Forperforming an effective research many things and factors are required. Factors which will help the company in application of new and improved technologiesAccording to Hakansson (2014) says that, technology advances provides competitiveadvantages to the company. It helps in establishing a new and innovative process for conductingtheir activities in an efficient and effective manner. Technology adaptation is increasing day byday, so it is very necessary for company to adopt advance technology. Being a multinationalgrocery store Tesco PLC should adopt new technology which can help in enhancing theirproductivity and profitability. New technology will help company in many ways like inimproving communication with stakeholders, providing better and enhanced services or productsto potential consumers. There are some factors which company should consider whileimplementation of new and advance technology. Conduct a need assessment: Company should first analyse the need for adopting orimplementing the new and advancement technology. They should determine whether it will be a
perfect solution for solving the existing problems or not. For this Tesco should determine thatwill it be successful in achieving productivity and probability as per the strategies made by them.The following are the factors which helps in adaptation of technology:Inappropriate sales performance: Company needs to adopt advance technology toimprove the sales performance because the present technology is not that much profitable for thecompany. Tesco has to adopt different technology which can help them to cater more and moreclients for providing their products and services. They can use technology which can improvecustomer relationship management, collaborate entire sales team etc. It will improve and enhancetheir profitability of company.Inefficiency in production process: Production process of company depends upon thetechnology used by the company. If manufacturing process is effective and efficient then it willprovide good quality of goods and services to consumers at lower cost (Jones, 2013). Companyneeds to change this process when it is not profitable for company and producing small numberof units at higher cost to company. In this case Tesco needs to adopt such technology that cangive them high quality of product at economic rate. Technology helps company to use rareresources in an effective manner and assist in achieving economies of scale. Hence, all above mention factors will help Tesco to identify needs for adopting andimplementing advance technology. Analysing the effectiveness of new technologies in improving its performance in the market?According to Čuček, Klemeš and Kravanja (2012) says that, performance of companyplays an important role in success of the company. Good and efficient performance oforganisation helps in accomplishing the goals and objectives in a productive and profitablemanner. It is a key for maintaining a successful enterprise. Performance of a company dependsupon the technology and processes adopted by company or management. It has benefits inimproving performance like it provides open communication environment, motivates employeesby adding skills and knowledge, analyse performance and keep track on it. This will helpworkforce of company to use their full potential for giving best and high level of output. Allthese factors will help in improving productivity as it engage employee, increase loyalty amongsubordinates and make them productive. Technology has the following roles in improvement ofbusiness performance:
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