logo

Managing a Successful Business

   

Added on  2020-09-08

22 Pages4348 Words171 Views
Managing aSuccessful Business

Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2P1 Aims and Objectives .............................................................................................................2P2 Project management plan.......................................................................................................3TASK 2............................................................................................................................................6P4 Application of qualitative and quantitative research methods...............................................6TASK 3............................................................................................................................................8P5 Analyse data and research......................................................................................................8P6 Appropriate recommendations and valid conclusions.........................................................15TASK 4..........................................................................................................................................16P7 Reflection on value of undertakings on research ................................................................16CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17

INTRODUCTIONTechnological advancements are the emerging changes that are coming in theenvironment. There are various types of new technologies that are entering in the business worldbecause of which all the work is performed in an easy manner. Digital technology is having ahuge impact on the business activities as they are making work easy and reliable. There arevarious new technologies that are introduced in the environment that can be used by companiesso as to improve their business operations and store the important data (Ahmed Dine Rabeh,Jimenez-Jimenez and Martínez-Costa, 2013). It is an effective process which should be adoptedby all the companies if they want to grow inmarket. The firm that will be referred here is Ore. Itis a company that is providing reception services to the small business enterprises . But nowsince digital technology is influencing the public much that company have also decided to enterthe digital market.The report will cover the aim and objectives of research, a projectmanagement plan, Gantt chart and research methodology, data analysis so as to understand thereviews of people. TASK 1P1. Research aim and objectives In today's business environment , digital technology is growing at a very fast speed. It hasbecome compulsory for all the companies to use these technologies on their business operations .These business technology is only helping them and will not do any kind of harm . It can be usedby them in various ways like for storing data, for conducting different activities in a simple way.It is a very time saving technique which will finish an activity in very less time. Digitaltechnology is bringing a modern development in the economy because now companies that wereusing old traditional techniques are now shifting to this digital technology method. This alwayshas a positive impact in the company and as thy are vary helpful in taking decisions for thecompany (Chesbrough, 2010Crane and Matten, 2016). If this will be used by the small businessof the country then it will be very good for them as they will get more innovative tools andtechniques to bring growth and development in them faster. In case of Ore, they have entered themarket few years back only and are serving worldwide now. They are having 95 employeesand $ 7.8 million dollar turnover. They have a strong customers base and therefore companyis planning to enter into the digital market so as to reach the customers all over. Through thisthey will be able to reach at that places also where they are not having any store.

This will be very helpful for the cited company as through this they will; be able toincrease the profits of the company and also the productivity. But the competition will also bevery strong for the company so they have to be prepared for this and enter this sector by doinggood research only (Den Hertog, Van der Aa and De Jong, 2010). Topic: - Impact of Digital Technology in supporting small business growth and innovation – acase study on Ore. Background of studySince so many advancements are taking in the current business environment so, it hasbecome compulsory for companies to bring changes accordingly. It will bring more effectivenessin company than it was having before. This will be of great help for all the departments as thereare many types of software that are designed for each and every department and there is no needfor them to depend on the IT department. Aim: - To implement the digital technology in the company so as to achieve growth andinnovation- A case study on Ore. ObjectivesTo identify the impact of digital technology in economyTo evaluate how digital technology is impacting small business and innovationTo access the importance of digital technology in bringing growth and innovation in OreResearch QuestionsWhat impact does digital technology having on business?How will digital technology help in bringing growth and innovation in small business?Why is it necessary to transform business operations?P2. Project management planIf a company is doing a project then it is very essential for them to make a projectmanagement plan as it will help them in conducting all the activities in an adequate manner. Thiswilt help the company in making the project successful and can be carry out for long term also(Eckerson, 2010). For this, the company needs to identify the risk , coast, quality, time and scopeattached to it. All these elements will be very helpful in managing the whole project successfully.Since Ore is planning to enter into the online market also so they need to make a plan in whichall these elements will be covered . They are described in detail below:-

Managing the Risk – here, the risk attached to it is not very high because Ore is apopular brand in the market and they are have made a loyal customers base also . So theyonly have to give attention to the little risk that is attached with the competitors present inthe market (Gebauer, Edvardsson and Bjurko, 2010).Scope – the project scope nature is high because digital market is having lots ofopportunities in them where a company can grow in market by using these digitaltechnologies. This will help them in conducting business all over the world. Cost – Cost estimated with this project is very high as there are lots of activities that willbe conducted in this project and it will include some cost with them. Quality Control- Ore is a good brand that is maintaining their quality since starting.Their customers are generally of all class so they have to provide good quality only. Thiswill also help in attracting more and more customers and increasing the sales of thecompany. Time – There is fox time allotted to complete a particular activity in the company , somanagement of the company should try to complete the activities in the given time periodso that effective results can be achieved. Communication – There should be good communication in company so that employeeswill be able to communicate with the upper level of management easily. Through this,information will be shared easily. P3 Gantt chart and breakdown structureIf the company is doing any research, then it is very important for them to take reviews ofthe people who have used the products of the company earlier. It is very necessary for them as itwill help them in knowing the actual reactions of the customers and will help them in planning aswell (Gebauer, Edvardsson and Bjurko, 2010). For this, companies will make an action plan inwhich they will include all the activities which will be conducted in the project and it will alsoinclude the time frame that is attached with it as well. A perfect study should be conducted bythe companies before starting work in he project. The following steps are required to beconducted in a research:-Identify the problemReview the literatureClarify the problem

Clearly define the terms and conceptsDefine the populationCollecting dataAnalysing dataConclusion and recommendationSubmission of reportSince the whole project is based on digital technology so the companies should make useof all the activities that are mentioned above. Since Ore is planning to enter the digital market sopublic opinion is very important for them to know that whether they will be accepted by them ornot (Incelli, 2013). This will be treated as a problem for them and then on this reviews of famousauthors and experts are taken. It will help the company in knowing the impact they will have inthe market. After conducting all such work, a sample population will be selected by the companywhose reviews will be taken by the company . In this project, 20 respondents will be chosen bythe management of the company. All these respondents will be asked few questions on Oreentering the digital market. Their reviews will be analysed carefully and then only decision willbe taken. The Action plan prepared for this project are - S. noTask NameDurationStartFinishPredecessor1Identify theproblem5 Days2Review theliterature11 Days13Clarify theproblem14 Days1,24Clearly definethe terms andconcepts6 Days2,35Define the15 Days4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Assignment: Managing Successful Business
|21
|4681
|28

Managing Successful Business Project INTRODUCTION 1 TASK 11 P1 Project Management Plan 3 P3 Time Line and Action Plan 4 TASK 27 P4 Small scale research using research methods 7 TASK 310 P5 Research Me
|24
|5153
|65

Managing Successful Business Project Assignment Solution
|23
|5111
|156

Managing Successful Business Project - Wilton Way Cafe
|29
|5023
|35

Managing Successful Business Project Plan - PDF
|25
|5568
|230

Managing Successful Business Essay - Marks and Spencer
|24
|4426
|24