Technology Impact on Small Businesses

This assignment delves into the impact of modern technology on small businesses. It requires students to analyze a project focused on this topic, outlining its aims, success, challenges, and lessons learned. The evaluation includes assessing project activities, outcomes, strengths, weaknesses, and future implications for professional development.

MANAGING A
SUCCESSFUL BUSINESS
(IMPACT OF DIGITAL
TECHNOLOGY ON SMALL
BUSINESS)

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Aims and objectives of small firm Pearson...........................................................................1
P2 Management plan...................................................................................................................2
P3 Work breakdown chart...........................................................................................................4
TASK 2............................................................................................................................................5
P4 Small scale research...............................................................................................................5
Task 3...............................................................................................................................................8
P5 Data analysis..........................................................................................................................8
P6 Recommendation.................................................................................................................13
Task 4.............................................................................................................................................14
P7 Reflection of project............................................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
Logbook.........................................................................................................................................17
Template for the performance review.......................................................................................18

INTRODUCTION
Digital technology is becoming a strength of a company as they are helping small
business organisation in developing themselves plus sending and receiving information digitally
in proper way and thus it make company to use such digital technology in making decision for
whole business as one. In this modern world, small industries are using innovative ideas with
digitalisation which is helping them in manufacturing and communication. Moreover, the digital
technology used by small business organisation is helping them to grow in a rapid way and
making firm to earn maximum profits plus benefits (Trkman, 2010). The report will talk about
PEARSON, a small business enterprise who is using the technology in an effective manner.
Thus, it will be highlighting that impact of technology on small business enterprises and in which
manner technology is helping in developing their firm. It will also discuss the plan that company
will make in developing themselves in very efficient manner. Data analysis is going to be made
using various tools and methods in an effective manner. Although suggestion part is also
included in the given report which will help in reducing barriers and will bring success and
maximum profits for entity.
Task 1
P1 Aims and objectives of small firm Pearson
The small enterprise is going with digital technology so that company can produce new
and innovative products and services for making the customers satisfied with company.
Therefore, the aim of the study is to analyse the impact of digital technology on small business
enterprises like PEARSON. Although firm has effectively introduced their products in market so
that society can uplift their standard of living by using their products and services (Wheelen and
Hunger, 2011). Even development of small business and society will lead in growing the
economy as well. The objectives of firm which has to be analysed are as follows:
 To know the requirement of tools and techniques along with new innovative
ideas in PEARSON company.
 It is needed to understand the use of technology in the firm PEARSON with
whole industry to enhance the knowledge of society.
 Analysing the technology which is bringing efficiency and it show innovation in
association.
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Although analysing the objective and aims of company, it is required to understand the
research question as well so that more information and data can be gathered for useful decision
making (Kerzner, 2013). The data which has to be collected and their research would be of type:
 Did modern technology and technique will help the company, Pearson?
 To Analyse how the innovation will be useful for firm PEARSON ?
 Do any need of cutting down the digital technology use in Pearson ?
Therefore, getting information and data from research as well as aims and objectives will
help the company to bring out an effective decision which directly affects higher entity growth
and economy of country as well (Storey, 2016). Somewhere technology is providing many useful
techniques to industry but it is on company that how they use such modern digital transformation
for their organisation.
P2 Management plan
The different companies are required to make a management plan whether organisation is
working at small or higher level. The management plan has to be effectively just because whole
firm works according to the plan made by them only. Normally, plan is being made for
development of entity as one and in efficient manner and making of management plan has to be
made in correct form because this planning helps in going with right direction by members to
accomplish the maximum benefits and organisations aims and objectives (Stokes, Wilson and
Wilson, 2010). Although the entire strategy made is affected with factors like (external and
internal) which are risky for firm because each function and work is dependent on each other and
thus cause for making plan is to know which factors are affecting the organisation and risky
challenges which has to be faced by firm. Some of those factors which affects in developing the
plan is as follows:
Cost: The finance is the base of every activity as if any function is done in organisation, it
is required to have money in their hand and then it is possible for effective working. The cost for
production of products and services has to be kept lower so that prices can be set reasonably and
customers can easily buy them (David, 2011). Therefore, budget has to be made by firms so that
they can utilise the funds available in correct manner.
Scope: It is needed for every small firm to know their aims and objectives in order to
bring new plan according to that only. Thus, scope in management plan will encourage to use
modern technology which will help entities to attract the maximum customers effectively and
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this will help in earning profits (Onetti, et. al., 2012). With this, company will try to create the
innovation in their plan and products which make the entity to develop themselves with raising
economy.
Time: Pearson is growing at a rapid speed by creating and innovating the new ideas in
their products and services which is bringing satisfaction in customers. Also, it has tailored
services according to demand of consumers and people liking innovative ideas with products too.
The plan by management should include the task completion time period so that the staff of firm
can work effectively and work or task can be completed on time scheduled by upper level in
their policy.
Quality: The quality product has to be produced by company so that they can satisfy
customers with their innovative ideas in products with help of modern technology. Generally, it
is needed to maintain the quality standard so that millions of people can be attracted towards the
organisation (Zott, Amit and Massa, 2011). In management plan, it is required to raise or
increase the quality standard so that better items can be served and can reach to aims and
objectives of firm.
Communication: It is the needed thing in organisation as communication help to transfer
the new ideas and innovation to others effectively in firm. Information and data has to be
communicated with other department so that they can perform in better way. If employee and
employer is having a healthy conversation among them then it is having a direct connection to
success. The planning manager has to create such policies which will help in increasing
interaction among every member of company. This will make coordination among each of them
and they can work effectively for development of firm.
Risk: Risk is that which affects the function internally and externally both. The
management plan should include all the techniques to reduce the risk in work as every firms
knows that risk is that which brings danger in working criteria (Marston, et. al., 2011).
Management should teach to every member of firm that how they have to face and manage the
risk possibility as risk can occur anytime or anywhere which has to be overcome by organisation.
Resource: To produce the quality products for customers it has required that firm should
have quality resources and effective use of such can help the company to reduce wastage of raw
material and efficient work can be bought. Although digital technology and the firm's asset will
3

help in managing innovation and production of products. Therefore entity has to use their
resources in investment criteria so that they can receive the maximum output with it.
P3 Work breakdown chart.
Work breakdown structure help and useful in dividing the task with different departments
so that effective working can be seen because the work is being allotted to their specialisation or
skill in certain fields. Therefore it is very useful for another companies as well, because dividing
roles and responsibilities according to various divisions so that efficient working can be done in
firm (Christensen, 2013). Although such type of structure thus adapted by the PEARSON
company so that effective working can be done and it is opted just because to complete their
project on time and it will help in reducing the workload of senior managers as task can be
transferred to their subordinates as well according to their skill, talent and knowledge.
Thus managers of the company frame a work schedule that who is going to do that work
ans so on.. which help every member to know that which task has to be performed in effective
manner and in what time it has to be done. The hierarchy of wreak breakdown structure is in tree
form which subdivides the every member and division according to their level. Normally the
structure is prepared by senior manager so that they can divide the work to every department
which will bring effective working and thus with coordination as well. Structure also helps in
creating policy for every level in efficient manner and each and every level has to follow.
Moreover the Gantt chart is used to know the effective bar which help in knowing that
which task has been complete in that time period (Hotho and Champion, 2011). Although this
help in getting information or data to researcher so that they can bring the efficient policy and
decision in organisation. Generally the Gantt chart was made to divide the work according to
division and getting information that which task took the most time and which task doesn't taken
long time. According to this effective decision can be bought which could help company in
attaining their goal and objectives. The Gantt chart is as:
4

TASK 2
P4 Small scale research
The research help the company PEARSON to use the information and data in effective
manner in bringing the efficient plan. The company can bring innovative ideas and development
of plan after having knowledge of market as what customers are having their needs and wants
and that has to be met by companies (Burns, 2010). Research reduces the chances of risk and
loss by companies in proper manner. The various research methods is as follows:
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Qualitative research: This method of research help companies to gather data and
information in form of Name, nature and code. This technique help the firm to make effective
decision which is going to help entities to bring attainment of aims and objectives (Brinckmann,
Grichnik and Kapsa, 2010). There are various tools as well used by this method in gathering
information those are (interviews, questionnaire, surveys and perception). Although such
research help in knowing the feedback of something and their needs and wants for products.
Sometimes expectation a customers is having firm can also be gathered with this method in
efficient way. Techniques is used by many companies whether large or small.
Quantitative research: Quantitative method is used by researcher when they have want t
receive information in numerical form. Thus such kind of research help the companies to make
effective budget according to the information and data received (Teece, 2010). The research help
the firm to use such research in using modern technology in producing the products and services
by PEARSON. Although it is clear that quantitative research is done to gather information and
data in form of numerics and statistical form.
Primary research: This kind of research includes gathering information from the market
directly and it will not include any mediator, thus it is because it also known as first hand
collection of information and data in efficient way.
Secondary research: This kind of research includes the gathering of information and data
through previous records and literature reviews etc.. it is also known as second hand research
although this kind of research is mainly used when assumption has to be made and some other
person has already used such kind of research earlier as well (Zikmund, et. al., 2013).
Sampling: Sampling refers to getting feedbacks a customers are having for particular
product in market and this help firm to make right decision and making of policies in
organisation so that whole company can work over such in effective manner. In surveys a
questionnaire is formed and distributed to large market so that many other options can be seen
and various thoughts and feedbacks can be received to improve that for further things.
A survey is being done with 40 people to gather information that implementation of
digital technology on companies and such questionnaire is as follows:
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Questionnaire
Name:
Email id:
Contact no:
1.) Does modern technology is helping company to gain more advantage?
a.) YES
b.) NO
2.) Is company performance having any influence by innovation and technology?
a.) YES
b.) NO
3.) Modern technology is giving any long term benefits to firm?
a.) YES
b.) NO
4.) Which technology is effective for company?
a.) Traditional
b.) Modern
5.) Is modern technology played role as guide in the development process of company?
a.) Agree
b.) Disagree
c.) Don't know
6.) Do you think so that modern technology used by firm is responsible for bringing more
investment in company?
a.) YES
b.) NO
7.) Any changes is required in product and service of PEARSON?
a.) YES
b.) NO
8.) If YES in above then make recommendation to improve that?
…......................................................................................................................................................
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.......................
Task 3
P5 Data analysis
Theme 1: Modern technology helping to get
more advantage.
Observation
YES 30
NO 10
Interpretation: Thus modern technology is providing the advantage to company in greater
manner thus survey was done on 40 people to know that whether the technology is giving
advantage to PEARSON in developing and getting growth as well or not. Through survey is has
came out that 30 people out of 40 says that modern technology is providing advantage to bring
innovation in their products and services. On the other hand 10 people out of 40 said that modern
technology is bringing company down, there is no advantage to firm with it.
Theme 2: Is company performance influenced
by innovation and technology
Observation
YES 35
NO 5
8
YES
NO
0 5 10 15 20 25 30 35
30
10
Column C

Interpretation: The company Pearson is suffering from influence of innovation and technology
in effective manner and thus according to survey it has come out that 35 people out of 40 people
says that company performance is being influenced by technology in positive manner. Although
5 person out of 40 people says that it has affected the company in negative manner and nothing
has been influenced by technology to firm.
Theme 3: Any long term benefit to firm by
technology
Observation
YES 32
NO 8
Interpretation: Although company wanted to know that any long term benefit the technology
will give to firm or not to increase the development and growth of firm. Through survey it has
9
YES NO
0
5
10
15
20
25
30
35
40 35
5
Column C
YES NO
0
5
10
15
20
25
30
35 32
8
Column C

come out that 32 out of 40 people says that yes technology will help the company for longer
period in positive manner and 8 out of 40 says that it will not going to have for longer period
because time changes and new technologies come on regular basis.
Theme 4: Which technology is effective in
nature
Observation
Traditional 7
Modern 33
Interpretation: Thus to know that which technology is being effective in nature for such a
survey was made by company and it was seen that 7 out of 40 people says that traditional
technology was better for Pearson company as because it was giving them better result and 33
out of 40 says that modern technology is better for small companies as because they will bring
growth and development by satisfying customers after bringing new innovation in product and
development.
Theme 5: Is technology is playing role of guide
in development of company
Observation
Agree 28
Disagree 12
10
Traditional Modern
0
5
10
15
20
25
30
35
7
33
Column C

Interpretation: Technology helps to bring quality products for customers in effective way and it
was required to know that modern technology is playing a role of guide in the development of
company. For such survey says that 28 out of 40 people are agree with this that technology is
playing role of guide in developing and bringing growth of firm and 12 out of 40 people says that
no its not there technology is just helping the firm to carry out there business in effective and
efficient way.
Theme 6: Technology is bringing investment
in company
Observation
YES 37
NO 3
11
Agree Disagree
0
5
10
15
20
25
30 28
12 Column C

Interpretation: The technology is growing in great way and new technologies are being
introduces on regular basis. Over this it was required to know that technology and development
is increasing the chances of investment in companies. For such the survey says that 37 out of 40
people says that technology is increasing investment criteria in companies as because they are
helping to grow firm in perfect manner and on other side 3 out of 40 says that technology is not
helping in investment its a products and public relation company is having just because of this.
Theme 7: Any changes required in products Observation
YES 25
NO 15
Interpretation: Thus it become an needed concept to know that is there any changes is required
in products and services of Pearson company. For such the survey says that 25 out of 40 people
says changes is required because customers needs and wants changes on regular basis so, that as
12
YES NO
0
5
10
15
20
25
30
35
40 37
3
Column C
YES NO
0
5
10
15
20
25
30
25
15
Column C

to be met by companies and 15 out of 40 said that there is no requirement of change in product
because it is satisfying the demands of customers already.
P6 Recommendation
As it has seen above that technology has impacted on the small business firms in
effective manner and thus it is required to use the technology by firms which will help the firm in
proper manner (Chesbrough, 2010). It is appropriate to use modern technology like applications
in mobile and advertisement in creative manner and innovation should be there in all. Although
training and development is required in organisation so that staff and all the members of
company can adapt the changes in technology easily and through training employees going to
learn the new skills and knowledge so that they can work effectively with new technologies and
quality products and services can be produce by the Pearson company. The recommendation for
various things which has to be include in firm for technologies is as follows:
 Effective training should be provided to employees and members of company so that they
can use the technology in proper manner.
 Policy planning has to be done in perfect way which has to be followed by every member
and employee of firm.
 It is required to know the demand for product such as need and want a consumer is
having and provide them according to their preferences.
 Although it was required to learn how to implement the project at the workplace in
proper manner which will help in getting efficient growth.
 Sometimes technology provide the negative impact on company which has to be
undertaken by firm in perfect way.
Having recommendation with the company to improve something help them to improve certain
task which directly make to attain firms aims and objectives in effective way. Implementation of
plan and decision is made after having all the knowledge of market which will going to affect the
working of company (Bridge and O'Neill, 2012). Such recommendation will help firm to work
effectively and increase the growth of entity and development of organisation in proper manner.
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Task 4
P7 Reflection of project.
Although with the report, I came to know that the modern technology is very much
required concept in firms as this help entity to attain their aim and objectives in effective manner
and this makes a small firm to develop themselves and come into the position of large firm. Thus
technology not only help to increase the effectiveness and efficiency in work it also raise the
productivity of firm and increment in earning profits as well. Thus through this report I come to
know that technology is very effective for business and learned so many new things which has
enhanced skill and knowledge about the business venture.
For such I have learned things like making of Gantt chart and understanding of
systematic approach and information build-up in right manner. I tried using all the information in
right place and Gantt chart as well and other things which supported me to bring an efficient
report in this time period. For such I have also gone through making a management plan which
made me to understand the value of cost, quality and scope of firm etc.. even the break down
structure learned by me so that dividing the task according to departments which will bring
effectiveness in working and completing it on time as well in organisation. Hence, somewhere
this report has helped me to meet with logical research in companies and which has helped me to
learn new things with my colleagues.
CONCLUSION
From the above report it has come out that modern technology not only small but in large
companies as well it has its importance. Thus the technology help firm to bring innovation and
creation in their product and service items which help organisation to earn higher profits and
maximum productivity. Somewhere it has also seen that many other companies are coming up
with their innovative ideas to sell their goods in market. The company PEARSON has also used
the technology to raise their image from small enterprise to large scale organisation. Mainly, the
reason of this report is too show that technology is providing their helping hands to firm which
will make them to get stable in market and they can higher returns and can attain their goal and
objectives in proper manner. Although technology is also increasing the chances of investment in
various entities as well.
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REFERENCES
Books and journals
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small
business. Palgrave Macmillan.
Brinckmann, J., Grichnik, D. and Kapsa, D., 2010. Should entrepreneurs plan or just storm the
castle? A meta-analysis on contextual factors impacting the business planning–
performance relationship in small firms. Journal of Business Venturing. 25(1). pp.24-
40.
Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
Macmillan.
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning. 43(2). pp.354-363.
Christensen, C., 2013. The innovator's dilemma: when new technologies cause great firms to fail.
Harvard Business Review Press.
David, F.R., 2011. Strategic management: Concepts and cases. Peaeson/Prentice Hall.
Hotho, S. and Champion, K., 2011. Small businesses in the new creative industries: innovation
as a people management challenge. Management Decision. 49(1). pp.29-54.
Kerzner, H., 2013. sProject management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Marston, S., et. al., 2011. Cloud computing—The business perspective. Decision support
systems. 51(1). pp.176-189.
Onetti, A., et. al., 2012. Internationalization, innovation and entrepreneurship: business models
for new technology-based firms. Journal of Management & Governance. 16(3). pp.337-
368.
Stokes, D., Wilson, N. and Wilson, N., 2010. Small business management and entrepreneurship.
Cengage Learning EMEA.
Storey, D.J., 2016. Understanding the small business sector. Routledge.
Teece, D.J., 2010. Business models, business strategy and innovation. Long range planning.
43(2). pp.172-194.
Trkman, P., 2010. The critical success factors of business process management. International
journal of information management. 30(2). pp.125-134.
Wheelen, T.L. and Hunger, J.D., 2011. Concepts in strategic management and business policy.
Pearson Education India.
Zikmund, W.G., et. al., 2013. Business research methods. Cengage Learning.
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
Online
Managing a successful business 2017. [Online]. Available through
:<http://traceylawton.com/blog/5-ways-to-effectively-manage-your-business-for-
successful-business-growth/>.
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Logbook
Project Logbook for the chosen organisation:
Name of the learner: Name of the Supervisor:
Project Title: Managing the successful business Date:
Update of weekly research/ tasks achieved (Account
for a minimum
of six weeks with dates)
➢ What have you completed?
➢ Did you fulfil Task requirements?
➢ Are you on track and within deadlines set?
➢ Did you need to make any changes to your
project
management plan?
Comments
The report has been completed linked
with technology and understood how
technology is useful for the business
enterprises.
Yes
Yes
No
Any risks and / or issues identified?
➢ Did you identify risks/issues with a lack of
skills required for
undertaking research tasks?
No
No
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➢ Did you identify any additional risks/issues
that have an
impact on the project management plan?
Problems encountered
➢ What barriers did you face?
➢ How did you overcome them?
Its a lengthy project and find out that
time resources and problems were fine
as anticipated
Discussed with colleagues and teachers t
overcome this.
New Ideas and change of project direction Somewhere this helps in bringing the
innovation and seeks to techniques
which will make raise in organisational
performance.
What Have I learnt about myself this week?
➢ How did I feel when I had to deal with
tasks/problems?
➢ Did I find it useful to complete the tasks?
➢ How well have I performed? What did I
contribute?
The technology can help firm in various
ways to perform the task.
I felt complicated situation and pressured
in work.
Yes
I have contributed in nice manner and
seniors assistance was there.
Providing solution to problems occurred
in firm.
It will help in many mannerism.
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➢ What can I improve on next week?
➢ How might this learning apply in the future?
Tasks planned for next week
➢ Which tasks are priority?
➢ Have you set aside sufficient time for completion?
Getting solution to problems in market
and bringing effective solution with it.
Yes I received a lot time in working.
Project plan status to date (on, ahead, behind) It is up to date completed.
Supervisor comments to address
Signature of the Supervisor and date:
Template for the performance review
1. What was the Project supposed to accomplish?
The project was accomplishing about technology whether the modern technology is impacting
on the small business enterprises or not and the task is represented on the report.
2. Did the project succeed in its aims/ how do you know? Specifically, please outline any
evaluation and assessment
undertaken.
Yes, The project has been succeed in attaining the aims and objectives of firm as it was required
to link the technology with the small business enterprises in effective manner.
3. What things do you think worked well and why? Evaluate all aspects of the project (e.g
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initial inception, project
activities and project outcomes) from a range of perspectives.
I have worked on the plan efficiently so that effective decision can be marked and plan helped
me a lot in completing the task in proper and systematic way either.
4. What problems emerged during the project and how were they tackled? Was there timely
identification of issues and
resolution during the project process?
Yes, the issues were timely identified and solution is being provided to them and problems
which was occurred is in sampling and interpretation was hardest to work in completion of
project.
5. What did you learn from undertaking the project?
I have learned how to analyse the information and collection of data through surveys.
6. How would you rate your performance as a management consultant leading the project?
I rate myself with 7 out of 10
7. What strengths and weakness of your performance did you identify?
Identification of issues and providing solution to those is key strength of mine and weakness
was like did hard work in collecting information and communication skills too.
8. How will this inform and support your continuous professional development?
I can use this report further as well when, I will go with research part and using such effectively
on anything. Although it will help me in expanding the business and it will be useful for me in
long term.
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