Business Model Innovation and Performance

This assignment explores the significant role of business model innovation in enhancing organizational performance. It examines how innovative business models empower managers to make informed decisions, leading to improved operational efficiency and market competitiveness. The analysis delves into the relationship between business model innovation and various performance metrics, highlighting its contribution to a company's success.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives of the project.........................................................................................1
P2 Project management plan.......................................................................................................2
P3 Work breakdown structure and a Gantt Chart.......................................................................4
TASK 2............................................................................................................................................6
P4 Small scale research by applying qualitative and quantitative research methods..................6
TASK 3............................................................................................................................................9
P5 Research and data using appropriate tools and techniques....................................................9
P6 Recommendations................................................................................................................16
P7 Reflection on the research....................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
In current scenario, technology development taking place in business which change
whole activities in positive manner. It provide various opportunities in which company enhance
their overall growth at market place. Along with this digital technology is helpful for
organization in which manager easily collect, analysis and store data in order to take appropriate
decision in appropriate manner (Chesbrough, 2010). In this business organization use various
tools and techniques for communicate with their customers towards the services. Present report is
based on Rolex, which is famous brand which provide watches to its customers. In this they
wants to expand their business activities on online. This report include various research methods
to draw the valid conclusion as well as recommendation. Along with this, project management
plan also discussed which define particular aims and objectives. Various tools and techniques is
also mentioned which helps in collecting data and information.
TASK 1
P1 Aims and objectives of the project
In recent time, It is more important for every organization to use advanced and innovative
technologies in order to improve their performance level. With the help of this company fulfil
customers requirement as per their demands. In this aspect digitalisation define their positive
impact on overall business activities in which firm attain competitive advantage at market place.
Along with this cloud technology is also appropriate which enable in transferring all kind to files
from one place to another with high security. It also provide a platform to company in which
they easily communicate with customers in order to influence them towards the products and
services. Use of new technology require huge funds because it considered various tools so that
company easily execute their activities and attain better results. With the help of social media
organisation easily communicate with the customers and also enhance their customers base. The
main benefit of using new technology is to raise productivity level of the company and also
increase number of satisfied customers by providing them quality services (Ahmed Dine Rabeh,
Jimenez-Jimenez and Martínez-Costa, 2013). Hence, technology development affect on
operation activities in positive manner which mat leads in increasing the profitability level in
most appropriate way.
Topic: To implement digitalisation in order to transforming the business activities.
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Background of project:
Every business organization wants to improve their performance level by changing their
activities as per advancement in present environment. In this transformation of digital technology
is also take place within the business organization in which firm get various opportunities to
expand their business and take competitive place in market place. Along with this, cloud
technology is also beneficial for the company in which firm secure their data and decline the
interference of outdoor people (Gebauer, Edvardsson and Bjurko, 2010). By this production
activities is also improved in this company offer watches to its customers as per their demand in
over the world. Hence, it is important for business to set all the aims and objectives before
starting the new project in order to attain better results in appropriate manner.
Aims: To implement digitalisation in order to transforming the business activities.
Objectives:
 To determine the effective implementation of digitalisation in business organization.
 To understand the actual need of business in transformation of activities. To measure the overall effectiveness of digitalisation on business activities and its
transformation.
Research questions:
 How digital technology implement in business activities?
 Why it is important for company to transformed the business activities?
 How digital technology is effective for transforming the business activities?
P2 Project management plan
Project management plan is one of the important activity which conduct by every
business organization in order to attain long term benefits. With the help of this company easily
attain their set goals and objectives because it provide better direction in which manager execute
their business activities in appropriate manner. Basically project management plan is must for
organization without this company can not able to attain their target and also fails in attaining
competitive advantage in market place. The main advantage of preparing project management
plan is to execute as well as complete entire business activities which leads in attaining long term
benefits (Lin and Chen, 2012). Furthermore, it provide guidance to the manager in which they
define scope of the project, cost, resources, quality and risk factors. By this manager easily
formulate their activities to make successful project which leads in attaining set target. In context
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of Rolex, they wants to expand their business on online by using effective tools and techniques.
For this it is important for manager to include all kind of factors before taking any kind of
decision regarding the final project. These factors are as follows: Scope of project: In current scenario, customers needs and wants are change in fast speed
and technology development is also take place in business. It provide various
opportunities to the company to provide quality products and services as per customers
demand (Lai and Ong, 2010). With the help of this enterprise also expand their business
activities in new location in which they attain better results by delivering their services in
market. In this, Rolex expand their online business in which they provide their services
on online platform which aid in maximising their profitability level in appropriate way.
The scope of this project is very wide in which company attain various opportunities to
attain success at market place. Management of risk: It is also important for manager to manage risk within the project
before executing project activities because every project include some risk factors. In
context of Rolex, it is already a popular and famous brand so that they include low risk in
which they easily improve their performance level by attracting larger number of
customers. Along with this manager of the company determine various risk factors at the
time of executing their project activities in order to attain maximum output in systematic
way. Quality control: It is one of the vital part of project management plan which helps in
attaining set goals and objectives in specific time scale. Quality helps in increasing the
profitability of the company in market place and also attain competitive advantage in
most effective manner. Along with this it is also important for manager at the time of
executing their activities to maintain quality. In current time Rolex offer quality products
and services to their target customers which provide various advantage to the company in
which they easily take strong place in market and also capture larger market share. With
the help of this firm improve their performance level and increase customers base within
the organization. Cost: It is very high within this project because in which firm needs huge amount to
invest in different tools and equipments. By this manager attain better results and also
execute activities in appropriate manner.
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 Time: Time scale if also important for effective implementation of the project. It should
be execute as well as implement in fix time frame in order to attain positive outcomes in
appropriate manner. In context of Rolex, it is important for manager to ensure that entire
activities should be complete in particular time period so that enterprise easily attain
maximum outcomes and improve their performance (Kankaanranta and Planken, 2010).
 Communication: Effective interaction among all the department is important because it
helps in attaining set goals and objectives in appropriate time scale. With the help of
communication process. Management easily interact with their workers towards the
information and policies which aid in evaluating the positive results.
Hence, all these king of elements are important for project management plan which is
include by manager of the company in order to make successful final project. With the help of
these manager easily formulate better management plan in order to execute entire organizational
activities and attain higher success at market place. By this company enhance their positive
image and also attain competitive advantage in organization. In context of Rolex, manager make
an effective project plan in which they execute their entire activities to attain better success.
P3 Work breakdown structure and a Gantt Chart
Research is one of the important activity for every organization to gather as well as
collect all the relevant opinions and opinion towards the topic in order to make an appropriate
decision in appropriate way. It provide support to manager of the company to attain better results
and also maximize better utilization of resources. One of the main benefits of making an action
plan in which manager get better path to achieve desirable goals and objectives in specific time
scale. Basically it play important role within the organization because it conduct by manager to
effectively understand about all the activities in order to deal with issues which arise at the time
of executing business activities. In this context manager considered some steps for carry out a
research in systematic way which are as follows:
 Determine the main cause of conducting a research.
 Literature review
 Clarify the main cause of the problem
 identify the project concept.
 Choose respondents for executing the research
 Formulate management plan
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 Data analysis
All these kind of elements are considered in the research which is based on the topic of
digital transformation. With the help of this manager easily identify the opinion as well as views
of the peoples towards the research topic. In context of Rolex, they wants to make their whole
business digitalise in which they expand their operational activities by using online platform.
With the help of this they easily reach number of people on market place. In this they use
opinion of experienced authors which leads in providing better way in which they improve their
overall performance in positive manner (Trimi and Berbegal-Mirabent, 2012). Along with this,
one all these are effective done than manager as well as research select respondents form whole
population. By this they get various views and opinion for people. In this context research select
20 respondents through sampling method. With the help of these manager collect all the relevant
information which leads them to take appropriate decision towards the research topic.
Along with this, all these activities helps in making an action plan which is framed by
manager with appropriate dated and time frame. It is more beneficial for the company to attain
appropriate outcomes which helps in providing long term benefits to organization. In this
context, Rolex use primary source in which manager prepare as well as design questionnaire in
which they frame 10 questions. For this they ask question to 20 people for gathered and collect
their views towards the company and its services.
From making a successful project, it is important for researcher to review the dates on
daily basis. Along with formulation a date plan is also effective for project which aid in attaining
positive outcomes in most effective manner.
Making digital business in not simple because it is more complex in which all the
information have to deliver ion most effective manner to improve their performance level of the
company at market place. In this company collect relevant information and opinion of the people
in order to make an effective action plan (Smith, 2011). Basically it is prepare by research of the
company on the topic of digital transformation. This can be understood by given figure:
5

The above mentioned plan follow by the Rolex in which they effectively execute their
activities and also attain better results in most effective way. With the help of this company
expand their business on online platform which is more convenient for every person to purchase
watches in appropriate way (Jones and Lubinski, 2012). By this top level management easily
take effective decision which will leads in reducing the chances of uncertainty within the
organization at the time of expansion their operational activities in market place.
TASK 2
P4 Small scale research by applying qualitative and quantitative research methods
It is more important for researcher to select right methods for conducting the research. In
this manager have to follow the methods to effectively execute entire activities of the research in
order to attain positive outcomes in most effective manner. By this researcher easily covert
research into an effective and analytical study which aid in taking better decision. In this aspect
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there are two type of methods which is used by research for collecting relevant data for research
which knows by primary as well as secondary method.
Both methods are used by researcher for gathering all the relevant data towards the
research topic. It helps in drawing the appropriate recommendation (Introducing Research
Methods, 2017). In context of Rolex, both used by the company to collect data in order to take
better decision for expanding the business. Along with this, main and important methods are
define by researcher at the time of executing research which are as follows:
 Qualitative
 Quantitative
 Analytical
Along with this, normally researcher use both qualitative and quantitative methods in
order to attain positive outcomes in whole research process. For making effective outcomes of
research primary and secondary data methods also used by manager to gather all the important
information about the research.
Primary data: It is most appropriate method which is used by manager at the time of
conducting the research. By this investigator gather afresh and new information to define better
conclusion of the research. For this researcher design an effective questionnaire in which Rolex
include 20 respondents which aid in collect accurate data in most effective manner.
Questionnaire
Name:
Age:
Phone no.:
Email address:
Q1) Does digitalisation give advantage to business organization?
 Yes
 No
Q2) Is digitalisation provide long term benefits to Rolex?
 Yes
 No
Q3) Does digitalisation directly affect the overall business activities in positive manner?
 Yes
7

 No
Q4) As per recent business environment does digitalisation is important for business
organization?
 Yes
 No
Q5) Does it is important for Rolex company to implement digital transformation within
business operations?
 Yes
 No
Q6) Is Rolex have enough funds and resources to store their number of data?
 Yes
 No
Q7) What kind of future impact of using digitalisation on Rolex business operations?
 Positively
 Negative
 Can't say
Q8) Does bind business activities in important for Rolex to reduce red tapism?
 Yes
 No
Q9) Which type of marketing methods should be used by organization to execute as well as
undertake their promotional activities?
 Traditional marketing method
 Modern marketing method
Q10) Any recommendation for Rolex regarding digitalisation implementation?
Secondary data: It is also an effective method in which research collect data and
information through books, magazines, articles and so on. With the help of this manager of
Rolex collect relevant information towards the research topic and evaluate the better decision.
Case study one: Rolex company define various efforts to add values as well as features in their
product line and also offer new services for attracting larger number of customers. Basically the
main of company is to capture larger market share form its rivals by providing quality services to
its customers (Incelli, 2013).
8

Case study second: The main feature of Rolex watches that their cost is very high which is buy
by those people only who wants to show their standard and wealth. In this case company
produce watches for normal customers so that they easily buy the watches. For this their promote
their services for middle class customers and attract them through social platform.
Along with this, they add new and innovative services to their product line by
undertaking the promotional activities on social platform. Hence, concept of digitalisation define
positive impact on organization which directly contribute in overall success of the company at
market place.
TASK 3
P5 Research and data using appropriate tools and techniques
It is more important for researcher to present all the collected data in appropriate manner
which helps in decision making process of the company. In context of Rolex, they have to draw
the data in valid conclusion in systematic way.
Theme 1: Digital technologies provide advantage to company.
Q1) Does digitalisation give advantage to
business organization?
Frequency
Yes 17
No 3
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
9

Interpretation: As per above mentioned graph, it summarised that digitalisation is more
appropriate which provide various advantage to improve their productivity. In this 17
respondents are agree with this statement which leads in attaining higher satisfaction of the
customers by providing them better services.
Theme 2: Digitalisation give long term positive outcomes to the business.
Q2) Is digitalisation provide long term benefits
to Rolex?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: As per this graph 14 people provide their opinion with this statement that helps
in providing long term benefits to the co0mpany at market place.
Theme 3: Digitalisation directly as well as positively affect the business activities.
Q3) Does digitalisation directly affect the
overall business activities in positive manner?
Frequency
Yes 15
No 5
10

Yes No
0
2
4
6
8
10
12
14
16 15
5
Interpretation: As per this statement 70% people are agree with this statement that digitalisation
positively affect the overall business activities which leads in maintain products quality. With
the help this company satisfy their customers demand as per their requirements.
Theme 4: Digitalisation is significant for the company.
Q4) As per recent business environment does
digitalisation is important for business
organization?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
11

Interpretation: As per above graph 14 respondents are agree with this statement that
digitalisation in more beneficial and important for company in which they easily attain bset goals
in appropriate manner.
Theme 5: Implementation of digitalisation is important for company
Q5) Does it is important for Rolex company to
implement digital transformation within
business operations?
Frequency
Yes 17
No 3
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation: As per the above mentioned graph, it can be concluded that more than 70 %
people think that effective implementation is essential to attain positive outcomes.
Theme 6: Company has enough funds and resources
Q6) Is Rolex have enough funds and resources
to store their number of data?
Frequency
Yes 14
No 6
12

Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above mentioned graph, it can be summarised that 14 respondents are
agreed that adequate funds to store the data with more security.
Theme 7: Digitalisation future impact on business activities.
Q7) What kind of future impact of using
digitalisation on Rolex business operations?
Frequency
Positive 14
Negative 3
Can't say 3
13

Positive Negative Can't say
0
2
4
6
8
10
12
14
16
14
3 3
Column C
Interpretation: As per this graph, 14 respondents agree with the statement that digitalisation
affect the business activities in positive manner and also improve their performance level at
market place.
Theme 8: Bind business operations reduce red tapism.
Q8) Does bind business activities in important
for Rolex to reduce red tapism?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
14

Interpretation: From the above graph 16 people are agree with this statement that bind activities
of the business reduce the red tapism.
Theme 9: Marketing methods should be used by company for their promotional activities.
Q9) Which type of marketing methods should
be used by organization to execute as well as
undertake their promotional activities?
Frequency
Traditional method of marketing 3
Modern method of marketing 17
Traditional Modern
0
2
4
6
8
10
12
14
16
18
3
17
Column B
Interpretation: As per above graph it stated that 70% respondents are agree with this statement
that modern methods of marketing used by company to increase customers base and also capture
larger market share.
P6 Recommendations
As per positive brand image of the Rolex company in market does not required any
modification in their operational activities. In this company use various tools and technologies
for expanding their business activities on online. The main advantage of digitalisation is to attain
competitive advantage for its rivals by providing quality services to its customers as per their
demand. Along with this, effective utilisation of available resources also helps in attaining set
goals and objectives in appropriate time period. For attaining better results company have to use
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new methods to set effective communication with all the function of the business in order to
improve their performance level. Further, cloud concept is also essential for store huge data and
information with more security. The main benefits of using this type of technology in to reduce
the chances of hacking the information.
P7 Reflection on the research
Conducting research on specific topic define various number of issues which faced by
individuals at the time of undertaking the research. In this formulation of action plan is
significant in order to eliminate the issues in effective manner. In this research I face various
obstacles with time and cost. For this I did not got proper time to undertaking the research
activities so that I select 20 respondents to draw valid conclusion. In this budget is also not
appropriate in which I face problems to gather the data towards the research. Because of all
these issues I tries to manager all the activities and also determine the positive outcomes in
appropriate way. In this social platform is also effective in which I took helps in order to collect
more and valid information about the topic in order to get better results. Along with this, I also
tries to use effective utilisation of available resources which helps in in attaining positive
outcomes in systematic manner.
CONCLUSION
From the above mentioned report, it can be concluded that technology development is
more essential for every company because it provide various opportunities top the business
organization to get higher success at market place. Along with this research is also important for
business in order to collect all the relevant information towards the topic. With the help of this
manager easily take appropriate decision and improve their performance level. By this company
easily expand their business activities and attain competitive advantage in market place.
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REFERENCES
Books and journals
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning. 43(2). pp.354-363.
Ahmed Dine Rabeh, H., Jimenez-Jimenez, D. and Martínez-Costa, M., 2013. Managing
knowledge for a successful competence exploration. Journal of Knowledge
Management. 7(2). pp.195-207.
Gebauer, H., Edvardsson, B. and Bjurko, M., 2010. The impact of service orientation in
corporate culture on business performance in manufacturing companies. Journal of
Service Management. 21(2). pp.237-259.
Trimi, S. and Berbegal-Mirabent, J., 2012. Business model innovation in entrepreneurship.
International Entrepreneurship and Management Journal. 8(4). pp.449-465.
Jones, G. and Lubinski, C., 2012. Managing Political Risk in Global Business: Beiersdorf 1914–
1990. Enterprise & Society. 13(1). pp.85-119.
Smith, A.D., 2011. Successfully managing manufacturing supplier integration and procurement
issues: case studies in recessionary environments. International Journal of Procurement
Management. 4(2). pp.121-138.
Incelli, E., 2013. Managing discourse in intercultural business email interactions: a case study of
a British and Italian business transaction. Journal of Multilingual and Multicultural
Development. 34(6). pp.515-532.
Kankaanranta, A. and Planken, B., 2010. BELF competence as business knowledge of
internationally operating business professionals. The Journal of Business
Communication (1973). 47(4). pp.380-407.
Lin, A. and Chen, N. C., 2012. Cloud computing as an innovation: Percepetion, attitude, and
adoption. International Journal of Information Management. 32(6). pp.533-540.
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