Impact of Digital Technology on Business Activities of SME
Added on 2020-09-17
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ResearchProject
Table of ContentsINTRODUCTION...........................................................................................................................1Producing research proposal ..................................................................................................1Activities and timescales..................................................................................................................6Research approach and methodologies .................................................................................8Data collection and analysis ..................................................................................................9Effectiveness of research findings .......................................................................................19Alternative methodologies of reach and lessons learnt from results....................................19CONCLUSION..............................................................................................................................19REFERENCES .............................................................................................................................20
INTRODUCTIONDue to use of digital technology in the business the way business are operating have gonethrough a major change (Foroudi and et.al., 2017). In order to grab more customers and maketheir products and service more popular and attractive more and more companies are making useof digital technologies in the business. On the operation of business these technologies havebrought a positive impact. The more of automatic system are been used which have reduced theneed to do work manually so use to this a lot of time of the employees is being saved.In the UK nisa is a small scale organization .It is retail sector in the UK. This report willproduce a research proposal for this company on the topic impact of digital technology onbusiness activities of small scale companies. In order to do this both primary ad secondaryresearch is been conducted The outcome of this research will also be conducted in this report.Producing research proposal Title - “Impact of digital technology on business activities of SME”Background – More technological support is needed as today we live in a information societywhere people must manage more information. There have been a major change in the operationof business today. In order to conduct the business the organisations are making use of digitaltechnologies in the business (Hernandez, and et.al., 2016.). Due to digital technologies that arebeen used a major change in been brought. In order to expand the business on bigger and greaterplatform more and more businesses are making use of these digital technologies. The companiesare making use of cloud computing storage in order to store all the records of their moneys andcustomers. The advantages of using cloud – storage in the business are numerous. The artificialintelligence is been used by most of the companies in order to predict the behaviour ofcustomers. With this they can find out the preference of customers. By making use of digitaltechnologies the small scale companies are able to establish its business on a broader platform.Aims and objective Aims – To find out the impact of digital technologies on business activities of SME such as NisaObjective To examine the importance of digital technologies for SMETo study the impact of digital technologies on small scale organizationTo analyse different types of digital technologies that can be used in the businessTo examine the issues that is faced by SME in implementation of digital technologies1
Significance – This research will provide the small scale business stakeholders the need topropagate their resourceful processes and practice towards global requirements . Within smallbusiness to create a environment that can incline individuals, agencies and governments that canhelp in the growth of business. On the value of process of business and practices that are globallyoriented to pay emphasis on them. This research will help the SME to make use of digitaltechnologies in order to grow their business.Literature reviewThe importance of digital technologies for SMEAs stated by Jones, Alford and Wolfenden, (2015), by making use of digital technologyin the business it will expand business more rapidly and efficiently. By making use of digitaltechnology such as mobile phones the workplace boundaries have been removed. By usingdigital technology in the business the company can expand the base of its customers. By makingof digital technology the communication in the business can be enhanced. The employees thatare working in the office or other workplace are not just restricted to phone call they can alsomake use other technologies in the bushiness such as electronic mail in order to send message toother clients or to some other location. The interaction with the customers is also becomeefficient as from multiple channels information can be passed. To fulfil the needs of customersmore and more business are making of digital technology in their business. On the contrary noteKriechbaumer and Christodoulidou, (2014), stated the use of digital technology have madepeople more depended and additive towards these technologies. For day to day activities theoffice is more reliable and dependent on computers. In case if there is any issue in computersthen in this case the employees that are wrong in the companies will not be able to do their workuntil that issue is being solved. As stated by Kopanakis, Vassakis and Mastorakis, (2016), bymaking of digital technology the work can be done in less amount of time. However on thecontrary note as stated by a lot of employees are fired from the job as their work is being done bythe machines and also a tie that is been taken by machines to do work is less. By the onecomputer the work of about 9-10 people are been done. But in any company to increase a profitand expand the business digital technology plays an essential role in it.The impact of digital technologies on small scale organizationAccording to Mazzarol, (2015) , The way the companies conduct business has beenrevolutionized by digital technology. These technologies can be implemented by the smaller2
organization and with larger organization they can level the playing fields. In the economicmarket place to develop competitive advantage small business make use of computers, servers,websites and personal digital products. In the planning process owners of small business shouldimplement technologies. In order to reduce the cost of business the owners of small business canuse technology. The back office functions such as keeping different types of digital technologiesthat can be used in the business of record, accounting and payroll etc can be done automaticallyby using digital technology. To create secure environment these technology can be used byowners of business. This will help to maintain sensitive business or customer information. Thesedigital technology are user-friendly .With a minor background in information technology itallows owners of business to make use of computer hardware and software. The communicationprocess can also be improved by making use of these technology. With customer the skills ofcommunication can be improved by making of texting, websites etc. Also the digital productsapplication such as apps can also be used in the business. Through these electronic methods ofcommunication the companies receive more feedbacks from consumers. Through mobiledevices these methods allow companies to reach customers in a real time format. According toMorgan-Thomas, (2016), through the use of digital technology SME can increase employeesproductivity. In comparison with manual methods computer programs and business softwareallow employees to process more information. In the business function to reduce the amount ofhumans labour also business can also implement digital technology. Along with employeebenefit it allows small business to neglect paying labour costs. The new economic markets canbe purchased by the small business by making use of technology. In the local market rather thanjust selling consumer goods or services .The new market such as regional, national andinternational market can be reached out by them .The most common ways by which smallbusinesses can sell their products in several different economic markets is retail markets. A low-cost option is been presented by websites that can be accessed by customers 24/7 when they areneed to buy goods or service. In order to reach out new customer or new market the smallbusiness can also make use of internet advertising.Different types of digital technologies that can be used in the businessThe most effective and efficient digital technology that can be used in the business iscloud-computing. By making use of this cloud-storage the company will able to store all itsrecords and essential information on the cloud. The advantages of using this storage are many.3
As per Quinton and et.al.,(2017), with cloud the company need to worry about backups as it isstored on cloud the back up will be there and the updation is done automatic on cloud. The onlyneed of cloud is Internet access. With the Internet access the employees can access theinformation or records at any time and at any place. A lot of time is being saved due to use ofthis technology in the business and also it is also a cost-efficient .The security that is beenoffered by cloud is also excellent.As stated by Sepasgozar and Davis, (2014), the another digital technology that can be used bycompanies is mobile phones, e-mails,laptops ,video conferencing etc. With these type oftechnology the employees will be able to stay connected to business even after office hours. Bymaking use of video-conferencing the customers can interact or have conversation withcustomers or other employees who are sitting in different countries. On a global platformbusiness can be done. For the owners and employees cell phones have become small businessnecessities. In a timely manner these devices are lifelines for staying in touch and also theenquiries of customers can also be answered. The other advance in communication are email,text messaging and social networking sites through which the customer base will stay connectedto business and within the company the internal communication can be improved.As per Smeda,Dakich and Sharda, (2014), the innovation and product growth is driven due touse of artificial intelligence and big data analytics. By making use of digital technology in thebusiness the companies can predict like and dislikes of the customers. Based on this the productand services will be give to them. Also by making use of social websites the promotion of theproducts and services can be done by the companies. They can also predict the preference ofcustomers regarding the products that is been provided by the company. So, in a way a better andinnovative product will be manufactured by small business (Impact of small business on SME,2017.).The issues that is faced in implementation of digital technology SME technologiesThe implementation of cloud-computing store will help the SME to securely store data onthe cloud. The backup will be there if there is any fire, theft as the data will be stored on thecloud. On the other hand as stated by Olatunji,( 2015), the implementation of this technology forthe SME will be costly as it is a small organization and also it will require adequate resources forimplementation of these technologies. By using this technology the company can also developinnovative and creative products. As per Quinton and Simkin, (2017) , in order to maintain4
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