This research study will aid in enhancing the level of knowledge and comprehension skills of researchers. It focuses on digital technologies in Wallawwa Hotel, providing strategies for management to raise sales and profitability. The study is significant for both readers and academicians who are pursuing this course of digital technologies.
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How Digitalization in SMEs Drive Benefits of Economies of Scale and Maximize Performance
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TABLE OF CONTENTS INTRODUCTION & RESEARCH QUESTIONS..........................................................................1 LITERATURE REVIEW................................................................................................................1 THEORETICAL FRAMEWORK...................................................................................................2 RESEARCH DESIGN AND METHODOLOGY...........................................................................4 SIGNIFICANCE OF RESEARCH..................................................................................................4 REFERENCES................................................................................................................................6
INTRODUCTION & RESEARCH QUESTIONS There are many changes that have taken place in relationwith technology and companies make use of it so that they are able to deliver high quality servicesto customers. As per the current research, it is focused on digitalization. There are different organizations that have made use of these with a purpose of raising the sales and profitability.To carry out the awell-known SME business operating in the hotel industry of Sri Lanka named Wallawwa is taken into consideration where they have been found to have an intent of delivering high quality products and services totheirusers. Below given are the aim, objectives and research questions: Aim: To determine the benefits of sales and maximization of performance in SMEs for economy SMEs through digitalization:A study on Wallawwa Hotel, Sri Lanka. Research Objectives ďˇTo understand the concept of digitalization ďˇTo analyse the benefits that company gets through digitalization ďˇTo identify the benefits those are attained for economy of sales by implementing digitalization by Wallawwa Hotel, Sri Lanka. Research Questions ďˇWhat is the concept of digitalization? ďˇWhat are the benefits that company gets through digitalization? ďˇWhatarethebenefitsthatareattainedforeconomyofsalesbyimplementing digitalizationby Wallawwa Hotel, Sri Lanka? LITERATURE REVIEW As perJeschke and et.al., 2017,SMEs and comparative associations are receiving as well as using new advance technologies in the business. This is with assistance of their capacities to expand the adequacy and proficiency that duly prompts change in business execution. The small medium businesses are utilising digital technologies to promote and trade their products or services effectively which are successfully improving their performance. New and imaginative innovations are getting presented in the business condition. The Digitalisation is a noteworthy componentthatisinfluencingworkingconductandelementsofassociations.Advanced innovation is in charge of productive and viable work inside the associations. For example: the SMEs. 1
Jousse and et.al., 2017state that individuals are profoundly affected by the developing innovations in present world. Billions of individuals have started utilizing advanced technologies such as smart-phones in their everyday exercises. The general population is additionally utilizing different kinds of advances, for example, internet of things (IOT), online application, delicate products and so forth. Again, there are few issues that emerge in actualizing the innovations in business.Waldfogel, 2017expresses that the issues developed in the execution of cutting edge advancement in advancing limit are a result of non-attendance of learning and aptitudes in the zone of computerized innovation. The research and factual examination likewise demonstrated thatselectionandramificationsofadvancedtechnologiesinthebusinessactivitiesare expanding. These progresses are directly impacting upon each associated aspects to utilize new innovations in the business in accordance to their aptitudes. Additionally, the Digitalisation has turned into an imperative piece of each individual's life. The SMEs use new and inventive advancements in their business capacities to accomplish productivity and viability as well as accomplish the set hierarchical objectives or destinations. The Digitalisation is a successful part which profoundly influences the business elements of SMEs decidedly. Various independent companies are not prepared to grasp new advances due to specific limits, absence of information and securities of data in progressing advancements. Several small and medium sized enterprises are facing inconvenience in grasping progressive measures of advancement within their limits of sponsoring due to lack of secure database and incapable employees. THEORETICAL FRAMEWORK The Digital marketing is a wide concept which is useful for SMEs in improving the performance and profitability. This is done using the concepts of digitalization where new digital technicalities are being referred to change an adopted business model. It is with another foremost intent of getting newer opportunities of generating revenue with scope of creating value. This way, a business also tends to move in the world of digitalization. According to the above literature review, it can be identified that there are various theories which are applied for the analysis of digitalisation and its impact on various small and medium sized enterprises. There are varioustheorieslikemarketingstrategy,relationshipwithsuppliers,branding,profitand 2
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performance as well as the strategies of digital marketing which are applied by researchers or organisations in analysing the impact and importance of digitalisation. Toenvisiontheutilizationofhypotheticalstructureandlinkbetweendistinctive hypothetical ideas, the above illustration shows conceptualisation of speculations to give an encompassing review of a hypothetical system (Neubauer and et.al, 2017).The promoting procedure defines an exercise that should assist the organization to achieve their set objectives and targets with assistance of advertising exercises. The hypothesis notices three essential parts for organizations; benefit/execution, connections and marking that can be improved with a correctuseofshowcasingprocedure.Thesethreegoalsinfluenceeachotherandare exceptionally critical for organizations. Illustrationportraysmarketingsystemassociatedwiththreetargetsofbenefitor execution, connections and marking which thus are associated and can be fortified by the utilization of advanced advertising procedure. Likelihood of improved execution in all goals is achievable with the utilization of computerized promoting. Advanced promoting could be utilized to supplement the customary channels to better make progress in achieving distinctive goals. Decisions of how to utilize advanced showcasing and the reason why it is utilized are the 3 Illustration1: Conceptualization of theoretical framework
exploration points for this investigation and the model will develop with new discoveries (Nansen and et.al., 2017). RESEARCH DESIGN AND METHODOLOGY Different types of research methodologies are included which are effective enough to make sure that research is carried out in an effective manner (Wickramasinghe, Dissanayake and Somathilake, 2018). In this respect, research approach is an important aspect that enables researcher to present the findings. In order to do so, use of inductive approach will be done as it helps to provide specific details and general aspects are covered. In order to gather information, it is required to make sure that appropriate sources are used that will be helpful enough to gather adequate information. In this context, it includes primary and secondary information. Both have their own set of benefits and disadvantages (Taylor, Bogdan and DeVault, 2015). To conduct the research in effective manner, researcher will make use of both primary and secondary method. More specifically, primary will be gathered with the help of questionnaire and secondary through books, journals, online sources, etc. When information is gathered, then it is required to make analysis and in order to do so, one needs to make sure that selection of appropriate method is done. It includes qualitative and quantitative method. Among these, the research will make use of qualitative method. More specifically, use of thematic will be done as it enables to present information in the form of tables, charts and graphs. In order to carry out research in an appropriate manner, it is important that selection of samples is done in a proper way (Brinkmann, 2014).Forconductingtheresearch,employeesofWallawwahotelwillbetakeninto consideration as they are the one who have adequate knowledge regarding the research topic. Proper system is needed to be used for gathering personal information that will be accessible to the person who is authorised. SIGNIFICANCE OF RESEARCH This research study will aid in enhancing the level of knowledge and comprehension skills of researcher. The research study will be significant for both readers and academician who are pursuing this course of digital technologies. Digital technologies play a prominent role in enhancing organizationâs profitability and productivity. In this context, this research study will help the management of Wallawwa Hotel by providing themsome of the best strategies that can 4
beusedindigitaltechnologythroughwhichtheirsalesandprofitabilitycanberaised. Eventually, through this research, other researchers and authors can underpin their study by including topics andconcepts of study on digital technology. Through this, viewers will be able to determine the benefits that companies get when making use of digital technology. 5
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REFERENCES Books and Journals Brinkmann,S.,2014.Interview.InEncyclopediaofcriticalpsychology(pp.1008-1010). Springer New York. Jeschke, S. and et.al., 2017. Industrial internet of things and cyber manufacturing systems. InIndustrial Internet of Things(pp. 3-19). Springer, Cham. Jousse, J. and et.al., 2017. Power line communication management of battery energy storage in a small-scale autonomous photovoltaic system.IEEE Transactions on Smart Grid,8(5), pp.2129-2137. Nansen, B. and et.al., 2017. Social media in the funeral industry: On the digitization of grief.Journal of Broadcasting & Electronic Media,61(1), pp.73-89. Neubauer, P., Glauche, F. and CruzâBournazou, M.N., 2017. Bioprocess Development in the era of digitalization.Engineering in Life Sciences,17(11), pp.1140-1141. Taylor, S. J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons. Waldfogel, J., 2017. How Digitization Has Created a Golden Age of Music, Movies, Books, and Television.Journal of Economic Perspectives,31(3), pp.195-214. Wickramasinghe, M., Dissanayake, S. and Somathilake, D. N., 2018.How to Impact Information System Increase Efficiency of Small Business in Sri Lankan Rural City Areas.John Wiley & Sons. 6