Implementing Digital Technology for Business Growth

Explore how Trunki, a UK-based manufacturing company, leverages digital technology to enhance profitability and productivity. Learn about project aims, management plans, research methods, and recommendations for successful business operations.

Managing a Successful Business
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Table of Contents
Introduction......................................................................................................................................4
Task 1...............................................................................................................................................5
P1 Devise project aims and objectives for the chosen topic as specified above in the
assignment brief...........................................................................................................................5
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk, and resources.............................................................................................6
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages
for completion..............................................................................................................................8
M1 Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project......................10
Task 2.............................................................................................................................................12
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives.................................................................12
M2 Evaluate the accuracy and reliability of different research method applied.......................13
D1 Critically evaluates the project management process and appropriate research
methodologies applied...............................................................................................................14
Task 3.............................................................................................................................................15
P5 Analyse research and data using appropriate tools and techniques......................................15
P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusion......................................................................................21
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M3 Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to
support and justify recommendations........................................................................................22
D2 Critically evaluate and reflect on the project outcomes, the decision making process and
changes or developments in the initial project management plan to support justification of
recommendations and learning during the project.....................................................................23
Task 4.............................................................................................................................................24
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance........................................................................................................................24
M4 Evaluate the value of the project management process and use of quality research to meet
stated objectives and support own learning and performance...................................................25
Conclusion.....................................................................................................................................26
References......................................................................................................................................27
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Introduction
Every business organisation can achieve high growth and success in the large marketplace with
the support of digital technology. It is very important for the company to use latest techniques
and methods to maintaining long-term stability in the competitive market. This project report is
based on Trunki which is UK based manufacturing company. This company manufacture wide
range of bags for the domestic as well as foreign customers. This report includes the several
aspects of digital technology on small business and also about the various policies and strategies
that cope up with digital technology for enhancing profitability and productivity. Apart from this,
disruption will be discussed that affect the business performance. Also will prepare Gantt chart
and action plan for identifying all the practices which are performed by the company for
enhancing profit and productivity. At the end, a method of the survey has been discussed to
collect reliable and accurate information for smooth business functions.
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Task 1
P1 Devise project aims and objectives for the chosen topic as specified above in the
assignment brief
With the help of digital technology, Trunki can implement various changes in the business
activities such as production, planning, risk, cost, project management, resources, design, time
etc. The company can easily compete with its competitors by adopting digital innovation in the
production and services. It will assist in improving the communication, production,
Administration, Storage, and Distribution. The major aim to develop project plan is to minimise
the cost and time effectively. With the help of digital innovation, the company can easily
communicate with its customers, suppliers, and stakeholders to build strong relationship bond.
By making innovative and attractive bag design Trunki can establish tough competition in the
marketplace for another brand. The company can improve the production cost and time by using
effective digital technology and advanced methods. Digital technology assists in promoting and
advertising the products and services of Trunki on a global scale to enhance the number of
customers. This will improve the production process as well as increase the profitability and
growth. Trunki implements digital technology and innovation in the planning, designing and
production process of bags that will reduce the cost and time (Wahyuni, 2012). To achieve high
profitability and productivity it is very important to provide high-quality goods and services.
Technology helps in making high-quality products at minimum cost and time.
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P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk, and resources.
The project management plan for Trunki is as under-
Aspects Description
Cost By digital technology, Trunki can produce good quality product and
services at minimum cost. The operating cost will be reduced due to which
company set the minimum cost of bags to attract a huge number of
customers. Trunki can earn high revenue and sales at low cost with the help
of digital technology.
Scope The major scope of project management is to implement the digital
technology and innovation for improving the goods and services. It is
essential for management to communicate the scope of the project to all
employees so that they can attain better result and growth.
Time For achieving better outcomes it is important to implement all the changes
and innovation on right time so that company can introduce product and
service. The company can produce bag by taking minimum time through
high technology (Shalev, 2017).
Quality For satisfying needs and demand of the customer, it is highly important for
the company to produce good quality product and services. Without
making good quality product Trunki cannot attract a large number of
customers. To increase sales and revenue it is must to produce high-quality
goods in minimum time and cost by taking help of digital technology in the
production process.
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Communication The project plan should be communicated to all employees so that t
accordingly they give focus on that. To achieve a better result and high
profitability it is essential to make effective communication within the
business organisation.
Risk By making effective project management planning company can estimate
the risk factor and easily overcome with them (Nylen, 2015). This will
assist in reducing the risk factor and chance of loss. Risk should be
considered while making project management plan such as a change in
demand and preferences of customers.
Resources To attain better result and high growth company should use all the
available resource in appropriate manner without any harm and wastages.
The employee must use resources according to their roles and
responsibility for completing the project in the effective way.
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P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and
stages for completion
Practices Start time End time Duration
Planning procedure 2 February 2018 5 February 2018 4 days
Required resources 6 February 2018 9 February 2018 4 days
Budget for plan 10 February 2018 14 February 2018 5 days
Required software 15 February 2018 17 February 2018 3 days
Resources Allocation 18 February 2018 20 February 2018 3 days
Cost management 21 February 2018 24 February 2018 4 days
Implementation 25 February 2018 1 March 2018 5 days
Provide training 2 March 2018 3 March 2018 2 days
Evaluation 4 March 2018 6 March 2018 3 days
Control Action 7 March 2018 10 March 2018 4 days
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Activities 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1 2 3 4 5 6 7 8 9 10
Planning procedure
Required resources
Budget for plan
Required software
Resources Allocation
Cost management
Implementation
Provide training
Evaluation
Control Action
FEBRUARY MARCH
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M1 Produce a comprehensive project management plan, milestone schedule and project
schedule for monitoring and completing the aims and objectives of the project.
Trunki produces a plan for implementing digital technology and innovations which are as under:
 Identify practices: It is the first phase in which all the activities are carried out in the
proper manner for achieving the set goals and objectives effectively. By using cloud computing
company can easily maintain a record of all data and information and also make activities for
manufacturing products and services.
 Estimate required resources and time: In the second step it is important to evaluate
required time and resources for all the activities to avoid wastages.
 Evaluate resources and relationship: For allocating task in the proper manner it is
essential to consider the relationship between effective result and work (Killen, et. al., 2012).
 Identification of schedule constraints: After identifying the relationship, all the
problems and issues are identified so that management can resolve them at right time.
 Control project: It is the last step in which management control entire project
management plan for the effective and efficient result. Proper control measures should be
adopted by the company for implement in the business.
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Activities 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 1 2 3 4 5 6 7 8 9 10
Planning procedure
Required resources
Budget for plan
Required software
Resources Allocation
Cost management
Implementation
Provide training
Evaluation
Control Action
FEBRUARY MARCH
MILESTONE
MILESTONE
MILESTONE
MILESTONE
MILESTONE
MILESTONE
MILESTONE
MILESTONE
MILESTONE
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Task 2
P4 Carry out small-scale research by applying qualitative and quantitative research
methods appropriate for meeting project aims and objectives.
It is important for Trunki Company to secure and protect its data and information by transferring
them into cloud computing. Through this company can manage project management effectively
to achieve a better result. There are basically two methods that are used by business to identify
needs and demand of customers. This will provide high competitive advantages to Trunki
through which it can enhance its profitability as well as productivity level. Trunki Company can
communicate with its customers by communicating with them through social media, websites,
email and many other technologies over the internet.
By taking help of two methods such as quantitative and qualitative approaches Trunki Company
can easily achieve its set goals and objectives. The qualitative approach helps in identifying the
features and quality of the goods and services that can attract and encourage customers. It is the
most important responsibility of the company to provide products and services according to the
customer's requirement. This method does not provide data in numerical form (Gharakhani &
Eslami, 2012).
With the help of quantitative approach, a company can easily identify a number of exact
customers which gets attracted after implement project plan management within the business.
Through this method, Trunki Company easily interprets the collected data because it provides
information in numerical form that makes work easy. The company can take a right decision
quickly with the help of quantitative approach. Trunki Company uses both methods for
accomplishing its set goals and objectives in the certain time period and provide high-quality
goods and services according to their needs and wants.
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M2 Evaluate the accuracy and reliability of different research method applied
The digital techniques are effective in the Trunki Company that helps in achieving desired goals
and objectives. The company should make proper communication with its customers for
identifying their current needs and demand so that it can provide goods and services accordingly.
By taking help of social media over the internet company can easily access the viewpoints and
feedback of people regarding the goods and services. Cloud computing is beneficial for the
management of the company to secure the data from any kind of fraud and theft (Ganguly,
2015). The digital technology and innovation assist company to enhance its productivity and
profitability.
Organisation uses qualitative approach for finding the right information about the quality of plan
so that Trunki can make changes in the quality of its bags to attract a huge number of customers.
For implementing the digital technology strategy and innovation in the production process
company use a quantitative approach that assists to estimate the accurate information about the
number of customers, budget, risk, and profit. With the help of both methods, Trunki uses
available resources in an effective way to use digital techniques and innovation in the production
process of bags. The qualitative method is more helpful for the company as it provides data in
numerical form.
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D1 Critically evaluates the project management process and appropriate research
methodologies applied.
According to Elmusharaf (2012), the project planning process is effective for the management as
it finds out all the activities that have been used in the project management. In the planning
process, proper allocation of cost and time is done by the management to achieve a better result.
It assists in reducing the unwanted activities and wastages that take place in the project process.
By using qualitative as well as quantitative approach company achieve its set goals and
objectives effectively and efficiently. With the help of Quantitative approach, Trunki can easily
estimate its profit, risk, budget and accurate number of visitors that will help in the project
management process.
The qualitative method is not effective for the Trunki Company as it does not provide
information in numerical form that will affect the planning process of the project management
and also affect the profitability which is one of the biggest negative points of this method.
The quality of goods and services will be improved by taking help of quantitative as well as
qualitative approaches. With the help of them, management gets accurate information about the
number of the customer, quality of goods that are demanded by people so that company can do
production accordingly.
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Task 3
P5 Analyse research and data using appropriate tools and techniques
The Trunk Company gathers right information and data through conducting primary as well as
secondary research for identifying current requirement of the market. Appropriate research
assists company to find out exact point of view of customers regarding the products and services.
By conducting a survey of 100 customers through primary method company collect right data
and information.
The several techniques and tools are used by Trunki Company which is as below:
Primary research: Company collect information through primary research and develop product
and plan accordingly and implement changes and modification if required.
Internet marketing: By taking help of digital technology and internet company can easily
promote and advertise its new products and services in front of people (Coghlan & Brannick,
2014).
Cost-effective Methods: There are so many methods and techniques used by the company for
estimating cost and budget. It will assist in increasing the level of profitability in minimum cost.
Q1 How is the quality of Trunki Bags?
Options Responses
Great 75%
Good 10%
Bad 5%
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75%
10%
5%
Quality of Trunki
Excellent
Average
Poor
By analysing above chart, it has evaluated that customers are satisfied with the quality of Trunki
bags. 75 % people find an excellent quality of the company and 10% finds the average
performance and rest 5% finds poor quality of the product.
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Q2 Does the organisational products are affordable for the customer?
Options Responses
Yes 85%
No 15%
85%
15%
Budget
Yes
No
According to the above chart, it has been an analysis that 85% customers think that bags of
Trunki are affordable for them rather than 15% are not satisfied with the budget.
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Q3 Do you think the company needs to make plan and strategies to manage innovation and
digital technology?
Options Responses
Agree 90%
Disagree 10%
90%
10%
Response
Yes
No
By evaluating above chart, it has been an analysis that 90% people give positive response who
think the company needs strategies to manage and control digital technology and rest of the 10%
are disagree.
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Q4 Can digital technology is helpful for promoting the products of Trunki?
Options Responses
Yes 97%
No 3%
97%
3%
Digital technology
Yes
No
By analysis above chart, it has been evaluated that 97% people highly agree with the digital
technology and 3% are disagree for the promoting products through digital technology.
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Q5 Does digital technology is helpful for maintaining records of customers and employees?
Options Responses
Yes 99%
No 1%
99%
1%
Response
Yes
No
From the above chart, it has been an analysis that 99% people think that digital technology is
helpful for the organisation to save accurate information about the employees and customers and
1% are against to it.
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P6 Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusion
By conducting research by Trunki Company various conclusion and recommendations have been
analyse. The primary method is helpful through which company gets to know improvement areas
which are defined as under:
 Trunki needs to provide proper training to their employees for the use of digital
technology effectively.
 It is important for the company to develop good quality goods at reasonable prices to
increase the number of customers and profitability (Chaudhary, 2016).
 The company needs to use cloud computing software for protecting the data and
important information.
 For satisfying needs of customers, the company should use innovative and digital
technology in the production process.
 By using high technology methods in the production process company can produce good
quality products at minimum cost.
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M3 Evaluate the selection of appropriate tools and techniques for accuracy and
authenticity to support and justify recommendations.
Trunki can make its project successful by using different tools, techniques, and methods. Internet
marketing, primary, cost-effective techniques are some of the most useful methods that help in
achieving high profitability and success. Primary research is beneficial for the company that
provides relevant data and information about the current needs and requirement of the customers.
Digital technology helps in promoting its products and services at large level in minim cost and
time. With the help of cost-effective techniques, Trunk Company can reduce the operational cost
and enhance the profitability as well as productivity level. All these tool and techniques help in
gaining huge competitive advantages and also aid in expanding business at the global level
(Brettel, et. al., 2012).
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D2 Critically evaluate and reflect on the project outcomes, the decision making process and
changes or developments in the initial project management plan to support justification of
recommendations and learning during the project.
According to Bernardi (2013), the trunk company give core attention in decision making and
take right decision according to the customers’ needs and preferences. The company makes
project management plan for identifying all the activities that have been taking place in the
project. To improve the performance various changes in the project management have been done
in the early stages that assist in strategize plans to enhance the result of the project. The company
can promote its products and services in large marketplace by using digital technology.
While taking a decision it is important for the company to consider all important elements that
can affect the performance and profitability. If the company does not involve all the element it
leads to failure and loss which affect the project management plan, cost, time and budget.
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Task 4
P7 Reflect on the value of undertaking the research to meet stated objectives and own
learning and performance.
Trunki satisfy current needs and demand of its customers by doing research through quantitative
as well as qualitative method. The company has main objectives to gain huge competitive
advantages by adopting digital technology and innovation with the organisation. There are so
many sources such as online media and social sites through which company spread right
information about the new product and services to customers. It is very important for the
company to protect and secure relevant information by transfer into cloud computing (Bernardi,
2013).
The conducted research assists in identifying the need for adopting the digital technology and
innovation in the production process. This will reduce the operating cost and time so that
company can easily enhance the number of customers and level of productivity. With the help of
digital technology company can develop effective communication process with its customers.
With the help of research company can enhance its performance and profitability level. There are
different techniques and tools that are used by the company to improve the communication as
well as production process. The digital technology helps to promote goods and services in the
large marketplace. The innovative technology assists to implement the project plan in a proper
manner to achieve high profitability and growth.
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M4 Evaluate the value of the project management process and use of quality research to
meet stated objectives and support own learning and performance
For achieving desired goals and objectives project management process help in identifying the
key area of improvement. The company gets to know the need for digital technology and
innovation in the organisation to compete with its competitors. The project management process
helps to estimate the need of resource, cost, time and budget for avoiding unwanted activities
(Martinelli & Milosevic, 2016). Trunk Company can control and manage its resource effectively
by making project management process. It is highly important for the company to develop a plan
in advanced achieve better result and growth. The major objective of the company is to gain high
competitive advantages by using innovation and digital technology. The trunki can easily support
own learning and performance by taking help of different tools and methods. By providing
proper training company can easily motivate employees to achieve a better result.
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Conclusion
By analysing this project report it has been evaluated that innovation and digital technology
assist in enhancing the growth and profitability level of the business. It is important for the
company to use different methods and sources for implementing the project plan in an effective
manner. Trunk Company needs to develop appropriate project management plan for identifying
an exactly required resource, budget, cost and time. It will reduce the chance of loss and
unwanted wastages and activities that take place in the project. Trunki needs to develop several
management plans for implementing digital technology and innovation in the organisation to
enhance productivity and profitability. By developing attractive, unique and innovative design
Bags Company can easily attract a huge number of people towards its product as well services.
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References
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Pp. 1-4.
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desired Goals. Marketing management.
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5. Elmusharaf, K., 2012. Qualitative Data Collection Techniques. Rcru.
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