Impact of Digital Technology on Small Business Growth and Innovation

Added on - 22 Jul 2020

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MANAGING SUCCESSFUL BUSINESS PROJECT: THEIMPACT OF DIGITAL TECHNOLOGY SUPPORTING SMALLBUSINESS GROWTH AND INNOVATION
Table of Contents
IntroductionAt present, the economic development of a country depends on their business industries likeretail, manufacturing, software developing and many others. If the business organisations areable to earn huge profit, it ensures the development of the country. Henceforth, digitaltechnology assists to bring development in the venture in effective way. Digital technology helpsto increase production of venture and based on which, the authority of organisations is able tohold their position in the contemporary competitive market. In this study, the organisation,Langland Advertising Design and Marketing Ltd has been selected. It is an advertising industry,which is established in 1991. The head quarter of venture is at Windsor, UK (langland.co.uk,2017). The entire study will discuss about the aim and objectives of the venture for expandingtheir business in the appropriate way. In order to analyse the study, organisational theory wouldbe negotiated here. The study will provide the importance of using digital technology forexpanding the business in the merchandise market.Figure 1: Logo of Langland Advertising Design and Marketing Ltd(Source:langland.co.uk, 2017)Task 1LO1P1 Objectives and aims of small-size business projectObjectives
To expand the business of Langland Advertising Design and Marketing Ltd using digitaltechnologyTo understand the feedback of customers for using digital technology in the venture ofadvertising industryTo draw a new plan for developing the area of the business of Langland AdvertisingDesign and Marketing LtdAimsThe aim of the study is to analyse the impact of using digital technology in the contemporarycompetitive market. In the modern era, business enterprises are able to observe their position inmarket using digital technology like internet. Henceforth, the study will provide clear conceptionon the importance of using digital technology in the competitive market.P2 Plan of project managementIn time of expanding the business of venture, the business organisations draw their planning inthe appropriate way. As commented byAudretsch and Belitski(2017, p.1045), proper planningcan assist to bring success in the society. Effective planning includes the concept of scope, cost,quality, communication, resources risk and many others. In time of making the plan forexpanding the business of Langland advertising, the authority has focused on the followingmatter-CostAs per the viewpoint ofBrown and Mason(2014, p.754), the advertising media completelydepends on the technology. Henceforth, technology is developed day by day. As Langland wantsto expand their business from Windsor to any other cities, it is necessary to use advancedtechnology like machines and modern equipments for presenting their news in the attractive way.The estimated cost for the project is around $3.5 million helps to bring positive outcome.TimeAs the organisations try to expand their business, they need to make the market research in thelucrative way. Proper marketing research assists the authority of organisation to understand thepart, where, they need to bring development for expanding their business. Therefore, they useinternet, as digital technology in time of making their research. In order to extent the business,around 6 months time has been taken.Quality
All time, it has been observed that best quality products help to attract the eyes of customers. Incase of advertising organisation, as mentioned byBrownet al.(2014, 53), the authority needs topresent their news in the charming way, as the audience finds interest in time of seeing theadvertisement. Therefore, in case of Langland advertising, the authority needs to produce thenews in the pleasant way for improving their quality.ScopeThe scope of using digital technology is that Langland advertising is able to make their marketresearch very easily. As internet helps to give information related to the topic, the authority ofLangland can complete their research very easily. Henceforth, Langland can build awareness ofpeople using digital technology and providing advertisement on the media.RiskIn time of expanding the business, the authority of Langland needs to be careful in time of usingdigital technology. Many a times, it has been noticed that the authority of venture uses the onlinemoney transaction procedure. Henceforth, they need to use strong data security software foravoiding risk. However, hacking is another risk in time of using digital technology.ResourcesIn order to expand the business of the venture of Langland advertising, the authority can collectinformation of other advertising ventures using internet. However, as Langland advertising hastried to expand their business, they can collect information using social media. The rating of theirventure helps to understand their position in the market.CommunicationAppropriate communication in the enterprise can bring success for the venture in the effectiveway. As asserted byDíaz-Chaoet al.(2015, p.1445), if the employees of the venture can sharetheir knowledge with others, it helps to introduce new ideas related to production of the entity. Incase of Langland advertising, as they want to expand their business, they can use intranet in theirorganisation for making efficient communicating system. The intranet is a digital technology,which helps to spread the announcement of the venture among the employees very quickly.Henceforth, the authority of Langland tries to communicate with their employees using intranetin the venture. It aids to imply their plan in the lucrative way.Plan
As Langland advertising wants to extend their business, they have tried to prepare an online app,based on which, the authority can complete their market research. Using this app, they try tocommunicate with their customers for getting positive outcome. In order to prepare the planning,the authority has tried to develop effective communicating system as they can produce thesoftware in the updated way. In time of planning, Langland has focused on the online risks asthey can solve it in the appropriate way.Figure 2: Project management plan(Source: learner)P3 Work breakdown structure and Gantt chart of projectWork breakdown structure
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