Managing A Successful Business Essay
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Added on 2020-07-22
Managing A Successful Business Essay
Added on 2020-07-22
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MANAGING SUCCESSFUL BUSINESS
TASK 1P1 Project aim and goal for the chosen topicMain objective of this report is to use advanced and enhanced digital technology toincrease overall company performance in the industry. By using digital technology such asadvanced software, cloud computing and internet of things to expand and increase the efficiencyof a firm in an industry. Social media technology is also the best digital technology to improvetheir performance in the market. To effectively assess implementation of digital technology andits significance for an entity to increase their overall production in the market: A case study on“Black Axe Mangal” restaurant.Overview of the studyIn Black Axe Mangal restaurant they use the effective and advanced software to increasetheir performance in the market. They can also use the transaction system to process data forbilling, prepare annual report etc. this software help to increase their efficiency in the company.By applying this kind of digital technology in the firm an employee can easily get data andprocess for the billing and prepare effective annual report. From this transaction software systemthey can easily increase their performance in a market. They can also compete with the othercompanies in an industry (Ardekani and Abdulla, 2012). By using different types so digitaltechnologies in the firm they can easily increase their productivity and also enhance theirperformance in the firm. By using advanced technologies such as software for transactions,social media and cloud computing in an entity. It will give more competitive to the othercompanies in an industry.Main objective of using digital technology is to provide appropriate products and servicesto the customers. Advanced techniques of digital provide appropriate and effective facilities tothe employee that helps in increasing overall fruitfulness and also increasing efficiency inmarket. Implied goodness or benefits of the digital technology as follows:Increased learning skillsHigher performanceIncrease efficiency1
Above discussed benefits of digital technology that helps in gaining overall performanceand also helping in maximising skillfulness in an sector. This organization uses different types oftechnologies that help to maintain brand recognition in the market.Aim: “ To analyse impact of digitised technology beneficial for business growth and innovationof small business”. It can increase the challenges in the industry (Bertot, Jaeger and Hansen,2012).ObjectivesTo comprehend idea of digital technologyTo analyse skills, technologies and tools of digitisationTo identify appropriate strategies of technologyResearch questionsWhat is determined by digital technology?Roles and importance of digital technology in the company?Impact of digital technology in the organization?P2 project management plan that covers aspects of cost, scope, time, quality, communication,risk and resourcesIn relation with managing the operational activities of the organisation there is need tohave appropriate ascertainment of all required operations. There are various tasks which will beaddressed through imposing the appropriate management of costs, time quality, scope and bestutilisation of all relevant resources. Thus, to addresses the requirements there will be suitablechanges into operations which will be fruitful to the business as per having suitable changes inthe operations. Management of all the resources incurred in the business such as expensesincurred in the completion of the tasks as well as proper management of all the operations.Cost- It is useful so that maximum effort can be put in by following stipulated costs. Theoverall cost for project completion would be Euro 8500 by scholar for achieving project quiteeffectively. Cost sheet is listed below-ParticularsAmountPurchase materials1200Licence acquiring for software25002
Data base licensing1000Machinery expenditure2000Labour expenses1000Expenditures on server800Total8500Scope- Research is being purely done on the impact of digital technology on growth andinnovation of business. This is based on qualitative methods as well. Time- Project completion is required to be achieved as stipulated time of project is generallyfixed. For completing this project, researcher would make use of 15 days and it will becompleted entirely leading to proper conclusion. Quality- It is the essence of any research under subject. Statistical tools and related data is fruitfulfor carrying out research in the best possible manner. Primary and secondary data both are usedfor better results. Communication Plan- Sr. NoCommunication FormatDurationPersonnelsPresentation1Updateregarding statusEmailsWeeklyMembers andstakeholdersResearch progress2Action plan andfollow-up Meeting andemailsAlternativedaysAll Members inaction plan Stepsforcompletion of tasks3Devisingresearchproblem PresentationOnce in aweekMembers andstakeholdersProblems faced inanalysis4Budget usageMakingGroupDiscussion(GD)Last weekMembers andstakeholdersExpenses incurred3
5Risk analysisEmail,meetingWeekly Project Manager Approval byManagerRisk- It is a part of business which prevails and business operational tasks are affected. Themain risk identified in the project is constraint of costs. Moreover, time constraint is another riskwhich is uncertain. Resources- The resources are needed for better achievement of tasks as defined in scope statement.For present study, technical, human aspects along with financial aspect is done for enhancedresults. P3 Work break down structure and Gantt chart to provide time-frames and stages for completionTaskModeTask NameDurationStartFinishPredecessorsResourceNamesAutoScheduledIdentify the researchtopic 2 daysWed 11-07-18Thu 12-07-18AutoScheduledIdentify problemstatement 2 daysFri 13-07-18Mon 16-07-181AutoScheduledDetermine tools andtechniques 1 dayTue 17-07-18Tue 17-07-182AutoScheduledResource allocation 3 daysWed 18-07-18Fri 20-07-182,3AutoScheduledCalculation of cost 2 daysMon 23-07-18Tue 24-07-1844
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