Impact of Open Innovation on Firm Performance

Managing a
Successful Business
Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Objectives and aims of project...............................................................................................1
P2 Project management plan with time, cost, scope, quality, communication and risk.............2
P3 Gantt chart and work breakdown structure for complete the proposed project.....................3
TASK 2 ...........................................................................................................................................5
P4 Carry out research with help of qualitative and quantitative research methods....................5
TASK 3 ..........................................................................................................................................6
P5 Use of techniques and tools for analyse research..................................................................6
P6 Recommendations to draw meaningful conclusion.............................................................13
TASK 4 .........................................................................................................................................13
P7 Value of undertaking research to meet stated objectives.....................................................13
CONCLUSION..............................................................................................................................14
REFRENCES.................................................................................................................................16

INTRODUCTION
Technology is the factor which has changed the traditional process of business. Today
every enterprise use technology and various technical tools to execute its commercial activities.
This make the firm able to manufacture products as per the requirements of customers and better
satisfy their needs (Huizingh, 2011). This offer various communication tools to company to
interact with target customers. M&S a British multinational corporation based in United
Kingdom is taken under this report for study. Company deal in variety of products including
clothing, food, home products and many more. Enterprise wants to expand its business operation
with help of technique and at the same time wants to get whole control in its hands. Project
management plan through which manager can execute all activities in an effective ways is given
in this report.
TASK 1
P1 Objectives and aims of project
Technology offers a wide range of techniques and tools to enterprises which can be used
by them for achieving success and growth. All activities of small enterprises such as marketing,
accounting and promotion have been improved by advances in communication technology,
network and computer. In today’s era, all industries adapt the same on continuous basis to take
maximum benefit of technology development. One of the main benefits of technology is that it
supports organisation to operate effectively on daily basis. From laptop computers and
capabilities of internet, various web based applications, online file storage and transfer impact on
commercial operations of firm of different sectors (Bock, and et. al., 2012). Technology has the
potential to impact on commercial activities of business in both positive and negative way
depend on the objectives, goals, products produce by firm and how well the employees adapt the
technology. This has changed the way of conducting business of enterprises and support small
businesses to execute operations as per the level of large firms. Different types of technical tools
such as mobile devices, laptop and many more are used by small companies to get competitive
benefit. Implementation of technology should be considered by owners of small firms while plan
business operations to expand its activities (Inauen and Schenker-Wicki, 2011). This support
managers in carrying out its activities with effective use of technology available. Use of
technology helps organisation in accessing various platforms such as Facebook, Twitter and
many more and this provides an opportunity to firm to interact with more individuals and
1

encourage them to buy company's product. All this enhances effectiveness of communication
process and increases the sales of company's products. Marks and Spencer (M&S) is a British
multinational retailer that deals in home products, clothing, luxury and food products. Company
has an effective channel of distribution. Firm launched M&S website which was hosted by
Amazon platform but now, company want to take control of its online business. This can be
achieved with the help of digital technology.
Aim: The impact of digital technology on business activity at Marks and Spencer
Objectives:
 To examine the impact of technology on implementation of business activities.
 To ascertain the requirement of transformation of commercial operations. To determine effectiveness of technology on communication process.
Research Questions:
 What is the impact of technology on implementation of business activities?
 What is the requirement of transformation of commercial operations?
 What is the effectiveness of technology on communication process?
P2 Project management plan with time, cost, scope, quality, communication and risk
Project management plan is known as written document that is prepared by firms for
completing a specific project. Before executing any activity related with a project, it is very
essential for enterprise to formulate this as it consists of information about time, communication,
scope and quality of project required (Dewa and Ren, 2011). As M&S wants to operate or
execute its activities with the help of technology so, preparing a project management plan is very
essential for the company. This supports and provides direction to manager to implement the
project in an effective manner. Further, this aids in completing the project in given time with
minimum cost. Absence of this plan creates delays, increases cost and decreases quality of
business activities. For operating with help of technology or expand business activities with
technology it is very essential for M&S to formulate a project management plan and given things
must be consider in that plan: Scope of project: Requirements and needs of individuals are changing on a fast speed as
improvement and development is taking place in technology (Amit and Zott, 2012) .
This enhances the scope of business operation of a firm. It encourages company to use
2