Managing a Successful Business

MANAGING A
SUCCESSFUL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project Aims and Objectives..................................................................................................1
P2 Project management plan.......................................................................................................1
P3 Work breakdown structure and Gantt chart...........................................................................1
TASK 2............................................................................................................................................1
P4 Small-scale research through applying quantitative and qualitative research methods.........1
TASK 3 ...........................................................................................................................................3
P5 Research and data using tools and techniques.......................................................................3
P6 Communicate appropriate recommendations......................................................................11
TASK 4..........................................................................................................................................12
P7 Reflect on value of undertaking research to meet stated objectives....................................12
CONCLUSION..............................................................................................................................12

INTRODUCTION
In this present scenario, technology has played a very important role in improving any
business. This has assisted most of the company in manufacturing best quality of goods and
services to its clients (Baiden and Price, 2011). Therefore, to sustain in the market for a longer
period of time firms are utilising latest tools and technologies and as a result an increase in sales
and productivity can be seen. Earlier the machineries used to be very simple but now with
advanced features technology has become more complex and complicates because of which
workers sometimes find it difficult to operate. Wristband is one of the small industries that deal
in manufacturing customised wristbands. Although it is not so popular but as the organisation is
optimising latest technologies it is assisting them in obtaining the set goals and targets under
specific period of time. This report will throw light on aims and objectives of the selected
organisation so that project management plan can be made. Therefore, research methods that will
be used while conducting this research will be included in this assignment. Other than this the
tools and technologies that are optimised for accomplishing the researches is mentioned in this
assignment.
TASK 1
P1 Project Aims and Objectives
Developing new technologies, along with the changes in existing ones provides
advantage to an organisation and enables them in giving excellent good and services to its
customers (Chang, Walters and Wills, 2013). Therefore, it is necessary that with the change in
course of time organisation uses latest technologies for having an appropriate growth in business
operations. Wristband is using modern machineries as a result they are able to deliver best
quality products to its consumer right on time. Further, the company is using modern marketing
trends so as to increase their performance in sales and productivity rather than implementing the
old one. Along with enhancing the GDP of a country, these small organisations are providing job
opportunities to maximum number of people. Thus, for giving appropriate services Wristband is
giving best training activities so that employees can improve existing skills and knowledge in
order handle their clients in an effective manner.
Therefore, it will assist them in having a better relation with customers; as a result a better
position in the market can be obtained. For example: Wristband, for communicating with their
employees is using appropriate technologies so that they can convey their message to workers in
order to get best outcomes. This is helping the organisation in maintain a strong mutual
understanding between employees and subordinates. Apart from this, new tools and technologies
are aiding the organisation in maintaining a record which they can easily access in just one click.
It is providing security to its data as compared to earlier times and nobody can misuse them.
Topic: In order to know the effectiveness of digital technology so as to conduct their
business operations in an effective manner.

Background of the project: By implementing innovative and new ideas Wristband is
influencing the minds of people and as a result they are attracting more and more customers
towards their organisation. Therefore, Wristband is taking feedbacks and reviews form a number
of individual so as to make products according to the choices and preferences of people. Thus,
company is giving excellent services and facilities in return. For example: as per the current
scenario, individual has become more conscious about health henceforth, Wristband company
with the help of digital technology has incorporated certain features form which people can
analysis what is going inside the body. Apart from this, to promote their brands the organisation
is using various kinds of methods through which they can conduct promotional activities like
giving advertisements in social media, internet, newspapers, magazines and many more.
Furthermore, to interacting with their customers company have made a separate department
where all the queries of customers are solved (Eweje, Turner and Müller, 2012).
Aim: Introducing new tools and technologies so as to do some of the modifications in the
activities of business operations.
Objectives:
 To recognize the efficiency of digital technology in an organisation
 To identify the proper use of technologies while conducting a business operations
 To estimate the business transition as per the requirements
Research Questions:
 How to recognise the efficiency of digital technology in an organisation
 Process or identifying identify the proper use of technologies while conducting a business
operations
 How to evaluate the estimate business transition as per the requirements
P2 Project management plan
Planning and plotting is very important if the organisation wants to run their properly.
Planning can be said as a rough draft that firm can follow in order to work in a systematic
manner. Here, role of project manager is very important as to make any new plan or strategies
they have to go through all the factors that can have an impact on business operations whether
negative or positive (Kasemsap, 2016). This will help the organisation in minimising the risk
factors and as a result the entire task will be performed in a systematic manner. Wristband is
attaining all the set targets by utilising all the latest tools and technologies and it is providing
better outcomes. Some of the points that must be considered by manager of the company are
given below:
Scope of the project: the research is conducted in order to know the impact of using
digitalisation in an organisation. Therefore, competition has increased with the increase in
market area and it has opened up the path of job opportunities in various fields. Thus, to remain
in the market for a longer period of time it is necessary that companies manufacture products as