Impact of Digitalisation on Growth of Small Business Enterprise
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This assignment discusses the importance of digitalisation and its impact on the growth of small business. It focuses on the case study of Hare & Bone, a hairdresser salon in the UK, and explores the role of effective management, research data evaluation, and recommendations for success.
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Contents INTRODUCTION.................................................................................................................................3 TASK 1.................................................................................................................................................3 P1: Aims and Objectives...................................................................................................................3 P2: Project management plan............................................................................................................4 P3: Work breakdown structure and Gantt chart.................................................................................5 TASK 2.................................................................................................................................................7 P4: Small scale research by application of qualitative and quantitative methods...............................7 TASK 3.................................................................................................................................................9 P5: Use of appropriate tools and techniques regarding evaluation of research data...........................9 P6: Recommendation to draw valid conclusion...............................................................................16 TASK 4...............................................................................................................................................16 P7: Reflection..................................................................................................................................16 CONCLUSION...................................................................................................................................16 REFERENCES....................................................................................................................................18
INTRODUCTION Digitalisation plays an important and valuable role in achieving growth and success of any organisation in limited period of time. It helps business organisation to perform its operation in more effective manner that will help in maximising the satisfaction level of customers. As adoption of digital technology requires huge amount of funds through which small business sometimes hesitate to implement in their business activities in order to avoid the chances of facing losses. Thus, an effective management is required who are aware about the importance of digital technology in the growth of business. Hare & Bone, an instinctive hair salon that offers best technically executed wearable hair with innovative and artistic flair is taken for the purpose of preparing this report. This assignment is based on identifying the importance of digitalisation and its impact on growth of small business. The project also highlights the role of effective management plan which are more helpful in executing business activities in profitable manner (Awais Ahmad Tipu and Manzoor Arain, 2011). Data accumulation with the help of taking support from an effective tools and techniques is also discussed under this report. Lastly, project also summarises the suggestions which are required to eliminate barriers or hurdles which restrict business to achieve success in market. TASK 1 P1: Aims and Objectives Hare & Bone, a creative hair dresser salon which provides different services to customers such as cut & blow-dry, bleach, Braid and weave hair etc. with all such efforts they make their customers more attractive and stylish. Such services of sleeted business satisfy the demand and preferences of customers which help them in achieving growth for longer duration. The management is held responsible to make a suitable decision regarding adoption of digital technology in business functions which provides an opportunity to provide their services to customers in more effective and efficient manner. Using digital technology such as Hairstyle ad cosmetic imaging technology which allows customers to see “after” style before the hair professionals begins to work. Social media technology also brings more profitable outcome to company. Hare & Bone may suggest and motivate customers to click and post “selfies” on their own social accounts and requested them to add their salon name in their photos so as to grab attention of large number of customers. These all provide an opportunity to Hare & Bone to expand their business on large scale. Placing advertisements on social sites also help in influencing the interest and behaviour of lots of customers due to which they may attained huge customer strengths and generate more revenues. Therefore, to can be said that using digital technology provides an important chance for business to maximise the satisfaction level of customers and retain them for longer period of time. Topic: “Impact of digitalisation on development of small business enterprise: A case study on “Hare & Bone- a hairdresser salon of UK”.
As nowadays using digital technology is rapidly increasing day by day top operate business functions as it helps in capturing largest market share (Basu, 2014). Adoption of digital technology provides strength to business in order to compete with their rivals and maximised customer’s level of satisfaction. This will also help business in bring new and innovative ideas to offer quality services to customers which help them in sustaining in market for longer duration. In the present scenario, Hare & Bone also uses digital technology which helps them in serving quality services to customers and maximises their interest level as well. Aim: Impact of digital technology on growth of small business activities. The main aim of Hare & Bone is top adopt digital technology with the purpose of expanding their business activities. This will help business to make their services more good and creative which fulfils the requirements of their customers. Research objectives Adoption of digital technology Increase the quality of services To perform with a motive of attaining huge customer strength. Determining the need of implementing changes in existing tools and equipments Research questions Impact on digitalisation in success of small business? How digitalisations help business to attract large number of customers? Investing huge amount in implementation of digital technology will bring beneficial result to company in near future or not? P2: Project management plan In order to achieve best possible outcomes in near future, the business should have an effective management who are capable of making a suitable decision and plans after considering all aspect relating to implementation of digital technology. Such aspects are related with identification of cost incurred in the process of adopting digital technology, scope of new technology, time invest in successfully implementation process, risk involved and issues related with communication (Geraldi and Lechter, 2012). These aspects must be analysed carefully in order to make project more successful. Hare & Bone is a hair dresser salon which deals in providing variety of services such as straightening and colouring of hair, facial and bleach etc. Their main focus is find ways of attracting lots of customers and it can be possible only when they adopt new technology in their existing business process. Using digital technology provides good experience goon customers which help in retaining for longer duration. Project management Plan should require making by management of Hare & Bone after considering all following aspects: Scope of project:The scope of project management plan is to identifying main objective of business so that they can accordingly design and execute policy as per the company’s needs and requirements. It implies that the main motive behind implementation of digital technology is to grab attention of large number of customers and make them more
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stylish and attractive without any side-effects. In addition with this, they are also focuses to improve their functioning through crating new ideas and devices in order to get profitable outcomes. Cost:As the management clearly know that adoption of digital technology in business functions required huge amount of funds due to which they sometimes hesitate to follow their decision regarding implementation. The managers first forecast the situation and find out their maximum efforts in identifying that implementation of digital technology will bring profitable outcome to company in near future or not. After getting answers of all such questions, the management decide to implement. As it also required to provide suitable training to their staff members as well which help them in gaining knowledge of using updated and advanced technology while performing related roles and responsibilities. This also required funds which may affect their profitability as well (Harish and Kumar, 2014). Time:It takes more time to implement new technology in business functions as it may difficult for staff to understand how to utilise such technology in order to bring positive outcomes. Thus, conduction of training programs, arrangement of funds to invest in buying new technology etc. incurred more time. Thus, it is important for management to prepare their staff in advance so as to use digital technology within limited period of time. Communication:The communication and relationship between the manager and employees should be better in order to achieve desired goals. As it is important for manager to bring their employees into confidence and educate them to use modern technology in an optimum manner so as to achieve best possible result. The planner of management is also focuses of maintaining healthy relation with customers. This can be possible by collecting feedbacks and suggestion from them through conducting research. Risk:As adoption of digital technology in business process required huge amount of funds due to which return on investment is based on the outcomes received in future. But due to sudden changes in the interest and behaviour of customers, it may bring negative result to company as well. Thus, the management is required to make an effective strategy with a motive of analysing such changes and accordingly teach their staff members to deal with such risky situations in an effective a deficient manner (Hwang and Ng, 2013). P3: Work breakdown structure and Gantt chart The management should require focusing on conducting research before following decision of implementing digital technology in business activities. Through such research, the business is able to know that which services attracts customers. Thus the information collected through research should be properly evaluated and interpreted so as to make an effective plans and strategies for the battement of customers as well as Hare & Bone. This will provide an opportunity to business to add services in their menu list and provide customers valuable services which maximises the satisfaction level of customers. Research also provides the effectiveness of digital technology through analysing the performed of other hair dresser salon that are currently using digital technology. This will help management in reaching to an effective decision regarding expanding their business activities. Providing
different services to customers through using new and innovative devices will help in grabbing attention of customers which increases in the number of visitors in their salon. Through all such operations, Hare & Bone has an opportunity to achieve competitive advantage and enhances brand image in market (Verzuh, 2015). The main points which need to be considered while conducting research are listed below: Main objective of conducting research Literature review Challenges faced by Hare & Bone during collection of data Selection of respondents whose answers should be taken Formulation of plan Analysing of information gathered during research Therefore, all above points need to be considered by researcher during research in order to make an effective decision and plan for the betterment of business. Hare & Bone, an instinctive hair salon of UK that offers best technically executed wearable hair with innovative and artistic flair. The main objective of company is to attract slots of customers and expand its business on large scale through adopting digital technology. In first step of research, information is gathered from different respondents which help them in making an effective strategies and plans. To get accurate result, the management has selected 30 respondents from total number of population in order to ask them relevant questions regarding the effectiveness of digital technology and their probability of achieve success in future. Through this, the management are able to get actual views and opinions of customers towards the services they offered and also help them in identifying the limitations which brings disinterest among their loyal customers. Literature review is also required to be conducted by the management. All such respondents are selected with the help of random sampling method which communicated them regarding the effectiveness of decision of using implementation of digital technology. With the help of getting information from the research, the manager of Hare & Bone able to make decision of implementing digital technology in Salon business in order to achieve profitable outcomes. Through this, they can achieve desired goals and objectives within limited period of time. The information collected by researcher is by using primary source of data collection. For this, they need to prepare questionnaire containing 10 questions which to be asked by researcher from the respondents (Leach, 2014). About the services they offered and importance of digital technology in increasing satisfaction level of customers. After preparing questionnaire, they need to approach respondents to fill questionnaire form with their own consent. Time frame should also require to adopt in order to conduct research within limited period of time. Such plan can be understood clearly from the figure given below:
Such strategies help management to give proper direction to their staff members in order to perform business function in more effective and efficient manner. This will help them in attaining large market share and achieve competitive advantage as well. TASK 2 P4: Small scale research by application of qualitative and quantitative methods There are two methods which are useful in collecting data from the research. Such methods include Qualitative and Quantitative. Through suing both methods, the management are able to collect theoretical as well as practical knowledge about the topic selected for research. The management is held liable to select one best method which will help them in getting answers of all asked questions in order to make an effective decision and plans. The company mainly focuses on conducting research about market, competitors along with their strategies, services offered by them etc. This all information helps in achieving growth and success in market for longer duration. Researchers have generally two options of collecting data which are primary and secondary. The primary method of data collection provided accurate and reliable information as data has been collected through asking question directly to the respondents. On the other hand, secondary method provides second hand information which are already used by someone else. The researcher has collected information from the articles, newspapers, magazines etc. thus the chances of accuracy and reliability of information is less. Thus, primary method is more preferred by company as compared to secondary method. For example, using primary source of data collection, the researcher has required to prepared questionnaires in which questions should be asked relating to the topic of research (Marston and et. al., 2011). This will help management in acknowledging the interest and behaviour of
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customers towards the services they offered and the changes the customers required in their current services. There are three main methods which are available to conduct research which are as follows: Qualitative Quantitative Analytical The managers of Hare & Bone has advised researcher to take only two methods which are Qualitative and Quantitative methods. Primary source of collection:This is the method though which the research is able to get accurate and reliable data through asking relevant question directly to respondents. Using such methods required huge amount of money and time but information collected through using such methods will ensure in bringing positive result to company (Porwal and Hewage, 2013). To use this method, Questionnaire must require to prepare in which 10 questions asked from the respondent about the research topic. Such questionnaire is prepared in following manner: Questionnaire Name Age Gender Q1.How frequently do you visit at Hare & Bone salon? Occasionally Weekly Monthly Every day Never Q2. Is digital technology help in maximising the satisfaction level of customers regarding the services? Yes No Q3. Are digitalisation help staff members of Hare & Bone to provide services more effectively? Yes No Q4. Does digitalisation contributes more in achieving growth and success of Hare & Bone? Yes
No Q5. Does Hare & Bone have enough funds to invest in digital technology? Yes No Q6. Does Hare & Bone offer price valued services? Yes No Q7. Does it is perfect time to adopt digital technology in Hare & Bone? Yes No Q8. Is there is any need of adopting digital technology in Hare & Bone? Yes No Q9. Is it helping Hare & Bone to achieve strong position among their rivals? Yes No Q10. Any suggestions to Hare & Bone regarding adoption of digital technology? Secondary source of collection: Information collected through using such methods ate not reliable and accurate as data has been taken from newspapers, magazines, articles etc. It is also known as second hand information which is earlier used by third parties. It consumes less time and money but due to lack of accuracy and reliability of information, it becomes difficult for company to get expected result. Thus, the management prefer to use primary method instead of secondary method in order to make an effective decisions and plans (Sharon and Dori, 2015). TASK 3 P5: Use of appropriate tools and techniques regarding evaluation of research data There are various important tools and techniques which help management in analysing the data collected by the researcher. Interpreting such information helps in making an effective decision regarding implementation of digital technology. Q1. How frequently do you visit at Hare & Bone salon? Frequency
Occasionally5 Weekly10 Monthly8 Every day2 Never5 OccasionallyWeeklyMonthlyEvery dayNever 0 2 4 6 8 10 12 Series1 Interpretation:From the above graph, it has been identified that more customers are interested in visiting Hare & Bone in a week. Out of 30 respondents, 5 respondent are likely to visit on occasionally, 5 on weekly basis, 8 on monthly basis, 2 on daily basis whereas 5 are not visit Hare & Bone till yet. Q2. . Is digital technology help in maximising the satisfaction level of customers regarding the services? Frequency Yes22 No8
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YesNo 0 5 10 15 20 25 Interpretation:From the above graph it has been clearly seen that most of the respondents thinks that adoption of digital technology will help in maximising the satisfaction level of customers. Out of 30 respondents, 22 are the respondents who think same but remaining 8 respondent were don’t think so. Q3. . Are digitalisation help staff members of Hare & Bone to provide services more effectively? Frequency Yes26 No4 YesNo 0 5 10 15 20 25 30 Interpretation:From the above graph it has been clearly mentioned that most of the respondents thinks that adoption of digital technology will brings easiness for staff members
to provide services to customers. Out of 30 respondents, 24 are the respondents who thinks that adoption of digital technology will help staff members to perform their roles and responsibilities well but remaining 6 respondent were don’t think so. Q4. Does digitalisation contributes more in achieving growth and success of Hare & Bone? Frequency Yes28 No2 YesNo 0 5 10 15 20 25 30 Interpretation:From the above, it has been mentioned implementation of digital technology will help in achieving growth and success of business. Out of 30 respondents, 28 are the respondents who thinks same but remaining 8 respondent were don’t think so. Q5. . Does Hare & Bone have enough funds to invest in digital technology? Frequency Yes20 No10
YesNo 0 5 10 15 20 25 Interpretation:From the above graph it has been clearly observed that investing amount in bringing digital technology in business operation will ensure in giving better possible outcomes in near future as return on investment. Out of 30 respondents, 20 are the respondents who thinks same but remaining 10 respondent were don’t think so. Q6. Does Hare & Bone offer price valued services? Frequency Yes18 No12 YesNo 0 2 4 6 8 10 12 14 16 18 20 Interpretation:From the above graph it clearly indicates that Hare & Bone is offering services which are more value to customers as compared to prices they charged from
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them. Out of 30 respondents, 18 are the respondents who thinks same but remaining 12 respondent were don’t think so. Q7. Does it is perfect time to adopt digital technology in Hare & Bone? Frequency Yes24 No6 YesNo 0 5 10 15 20 25 30 Interpretation:From the above graph it clearly indicates that most of the respondents thinks that adoption of digital technology at preened will bring positive result to company.. Out of 30 respondents, 24 are the respondents who thinks same but remaining 6 respondent were don’t think so. Q8. Is there is any need of adopting digital technology in Hare & Bone? Frequency Yes27 No3
YesNo 0 5 10 15 20 25 30 Interpretation:From the above graph it has been clearly seen that most of the respondents thinks that it is essentially required for Hare & Bone to implement digital technology in business activities so as to attract large number of customer and achieve huge customer strength.. Out of 30 respondents, 27 are the respondents who thinks same but remaining 3 respondent were think that the salon need to focus on the staff members rather than focusing on adoption of digital technology.. Q9. Is it helping Hare & Bone to achieve strong position among their rivals? Frequency Yes17 No13 YesNo 0 2 4 6 8 10 12 14 16 18
Interpretation:From the above graph it has been clearly seen that most of the respondents thinks that Hare & Bone can easily achieve competitive advantage in market after using digital technology in performing business activities.. Out of 30 respondents, 17 are the respondents who think same but remaining 13 respondents were don’t think so. P6: Recommendation to draw valid conclusion After analysing information available above, it has been clearly specified that Hare & Bone need to focus on adopting digital technology which help them in attracting large number of customers and achieve huge profits. In addition with this, it also improves the performance level of staff members through acquiring specific knowledge and skills of working on using digital technology. Following are the some essential elements which need to be undertaken by Hare & Bone: Providing sufficient training and learning programs to the staff members in order to work on using modern technology (Smith, Gonin and Besharov, 2013). Adoption of digital technology required huge amount of fund thus it is important for management to learn the implementation in successful manner so as to avoid discrepancies. Concentrate on maximising satisfaction level of customers. TASK 4 P7: Reflection There are list of problems which are faced by researcher while collecting information from different respondents. Thus, in order to avoid such problems the management are pre- ready with an effective plans and strategies in order to execute research activities in an effective and efficient manner. Such problems may related with cost and time invested by researcher in completion of research. During research, I observed that due to lack of funds I am not able to properly conduct research activities. This will affects the my capability of doing research task in proper manner. In have faced problems relate with time. Due to having limited time I select only 30 respondents from large number of people regarding getting vies and suggestion relating to implementation of digital technology. In order to provide support to the answers collected from primary source of data, I also used secondary data as well so as to ensure the accuracy and reliability of data. My main focus is to collect data through asking questions to respondents personally in order to get accurate and reliable data which further help management in making an effective plans and strategies for the betterment of Hare & Bone (Digital strategy and capabilities to win in a digitized world,2017). CONCLUSION It has been concluded from the above project report that digital technology helps business in reaching to the higher level in market due to which they can compete with their rivals in more and gather valuable information of them which help in making an effective decision and plans to adopt digital technology in business operations. There are different
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