Managing a Successful Business Project Assignment - IKEA

Managing a
successful business
project

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 2............................................................................................................................................1
P4 Research with help of various research methods..............................................................1
M2 Accuracy and reliability of various research methods.....................................................7
D1 Project management process and research methods.........................................................7
TASK 3............................................................................................................................................7
P5 Data Analysis....................................................................................................................7
P6 Recommendations...........................................................................................................17
P7 Self reflection .................................................................................................................18
M3 Selection of appropriate tools and techniques for accuracy...........................................18
M4 Value of project management to meet stated objectives................................................19
D2 Reflection on project outcomes......................................................................................19
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
Today, every business enterprise utilise technology in to complete its business operations.
One of the main benefit of this is that it help in provide better services to customers and help in
retain them for a long time period (Awais Ahmad Tipu and Manzoor Arain, 2011). Use of digital
technology provide an opportunity ton firms to do marketing of its products and
PART 2
P4 Research with help of various research methods
Market research forms an integral part in the success of a company. It is because it helps
in gathering and analysing information related to customers needs , preferences, business
competitors, prevailing market conditions ,government policies etc. On the basis of which a
company make necessary alterations in its present strategies as well as take accurate decisions on
its future course of actions. Thus, by catering needs of its consumers it becomes able to maintain
and enhance its market share , growth and productivity. IKEA is a multinational retail brands
that deals in various types appliances, furnitures and home accessories. Mentioned below are the
two types of research modes that can be adopted by the firm for collecting requisite data and
information: -
 Qualitative research – This type of research is concerned with gathering historical data
and analysing it to evaluate behaviour, attitude, thinking, approaches of a firm. There are
various other types of data that are collected in various geographical boundaries on basis
on specific components comprising religion, name, community, culture, tradition etc.
 Quantitative research – The data collected in this type of research is in the form of
numerics (Basu, 2014). This is one of the most critical yet effective type of research as it
requires data to be gathered from various sources like surveys, research and mathematical
analysis and to efficiently examine that information in order to reveal performance of its
business structure. These researches are easy to understand and analyse as it includes
data representation through charts.
 Primary research – It comprises first hand information that is collected by the
researcher on a particular subject for the first time. Primary research requires lot of time
and expertise to understand and evaluate the findings. It is generally consists of data
collected for forecasting demand for new and potential market where the firm is not
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having any previous business experience and therefore there is uncertainty about firms
growth and efficiency of its product and services in that market.
 Secondary research – This research consists of data that has already been gathered and
studied by other researchers or by company itself. A company refers to such data in order
to further analyse this information in order to develop better understanding of firms
activities and to find out ways of further enhance its performance to generate more and
higher revenues in its future business prospects (Geraldi and Lechter, 2012).
In completion of this assignment, there has been choose 70 respondents who are the local
people of UK and regular customers of IKEA. All these people helps firm to make imperative
decisions while implementing digital technologies in business process. Following is defined
questionnaire method which has been chosen for completion of this research, such as -
QUESTIONNAIRE
Name
Age
Gender -
Q1. Do you think that digitalisation highly affect all business activities?
A. Agree
B. Disagree
Q2. What are the main benefits of digitalisation for IKEA?
A. Increase team efficiency
B. Expand effectiveness of process automation technologies
C. Enables continuous transformation
Q3. Can IKEA have chances of getting global by adopting digital technology sector and
innovation in it?
A. Yes
B. No
Q4. Which kind of digital tools and techniques are acquired by retailing companies to
promote their products and services over the market?
A. Social media
B. E-mail
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C. Search Engine Optimization
Q5. What are the benefits for employees in implementation of digitalisation?
A. Freely transformation of information
B. Increase growth opportunities
C. Improve performance criteria
Q6. What are the advantages for HR department of digitalisation?
A. Provide training and development
B. Recruitment and selection
C. Performance management
Q7. Is digitalisation also improves quality of existing products and services of the company?
A. Yes
B. No
Q8. What types of processes should acquire by IKEA for competition of its operations?
A. Traditional methods
B. Modern methods
Q9. Are you satisfied with products and services of the company?
A. Yes
B. No
Q10. Recommendation to ensure digitalisation effectively in an organisation_____________
Project Logbook for the chosen
organisation: IKEA
Name of the learner: Name of the Supervisor:
Project Title: Managing Business
Successful
Date:
Update of weekly research/ tasks achieved
(Account for a minimum of six weeks with
dates)
What have you completed?
Did you fulfil Task requirements?
Comments
All task that was given ton me for
identify transformation of business
activities with help of digital
technology.
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Are you on track and within deadlines set?
Did you need to make any changes to your
project management plan?
Yes
Yes, I have completed all my tasks as
per the time allocate.
Yes, so many changes take place during
formulation of project management
plan.
Any risks and / or issues identified?
 Did you identify risks/issues with a
lack of skills required for
undertaking research tasks?
 Did you identify any additional
risks/issues that have an impact on
the project management plan?
Yes, I have faced issues such as lack of
ineffective communication, lack of time
and financial resources.
Most of the respondents are customer.
Problems encountered
 What barriers did you face?
 How did you overcome them?
Lack of financial resources and time.
I have attended several seminars and
group activities.
New Ideas and change of project direction From require to offer proper training
and development programmes
What Have I learnt about myself this
week?
 How did I feel when I had to deal
with tasks/problems? So , I was not afraid of the problems
that were coming in my way during
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