Importance of Research Projects in Business

This assignment delves into the crucial role that research projects play in driving business success. It highlights how conducting training programs through research can boost employee performance and engagement. The document emphasizes the value of involving experts to develop smart research plans aligned with company objectives. It concludes by emphasizing the systematic nature of research in fostering business development and enhancing employee efficiency.

MANAGING A
SUCCESSFUL BUSINESS
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
P1. Devise clear aims and objectives for your project................................................................3
P2. Produce a project management plan incorporating: costs, scope, time, quality,
communication, risk and resources.............................................................................................4
P3. Produce a work breakdown structure and a Gantt chart to provide time frames and stages
for completion.............................................................................................................................6
PART 2............................................................................................................................................9
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives (Research methodology)..........................9
Log book........................................................................................................................................12
PART 3..........................................................................................................................................15
P5: Analyse your research and data using appropriate tools and techniques............................15
4. ...............................................................................................................................................17
P6: Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................18
P7. Reflect on the value of undertaking the research to meet stated objectives and own
learning and performance..........................................................................................................18
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................21

INTRODUCTION
Managing a successful business project is the technique and method to manage all
activities and works in the systematic manner. CSR programmes and activities are organised by
the company to develop their society and develop a healthy environment to them so they can
make trust on the company. CSR through through build a fair image in the society's persons
mind also provide them well bing environment with proper satisfaction. In the managing
business successful business project mention all the details regarding to the company or business
that help to take effective decision. Business project for Tesco that is a retail company in UK that
provide all type of products and goods to customers. It is pre-planned process according to the
plan employees are working to achieve their own decided goals and objectives of the business
(Sparrow 2012). All kind business or company try to build a brand image in the market as well
as earn highest profit through the market and give proper satisfaction to customers also they will
conduct CSR (customer social responsibilities) activities and programmes those are help to
provide safety, security and other facilities. CSR working for social benefits its help to increase
working performance of employees as well as standard of living so they can work effectively and
efficiently way and easy to achieve goals and objectives of the business(Too and Weaver, 2014).
PART 1
P1. Devise clear aims and objectives for your project
Research project is the process in which including some stages those help to increase
working performance of employees and help to achieve objectives and goals of the company. All
company are earn highest profit as well as conduct CSR activities and programmes those are
help to crease healthy and fair environment for their society. This research project has some aims
and objectives those are under the below:
 To increase working performance of the employees so they can achieve the goals and
objectives of the business. Employees are important part of the company so have to
provide effective training to them increase their learning and performance level.
 CSR programmes and activities through develop a healthy environment for society and
provide them safety and security.

 Research project through find out something new and innovative things to develop their
business in the effective manner.
 To control the waste of the company and increase the production level of products and
goods(Sparrow, 2012).
 To adopt some new strategies and methods to give proper satisfaction to customers
towards their products and services also identify their wants and needs by the company.
P2. Produce a project management plan incorporating: costs, scope, time, quality,
communication, risk and resources
In the business project play important role cost, scope, time scheduling, resources,
employees, fund and so more. All these are should formulated in the systematic way its easy to
understand by employees and help to achieve targets and goals of the business.
Project management plan
Stages Define Cost(million) Times Scheduled
Explain the
project objectives
and goals
In this stage should clarify
all objectives and goals of
the business project to all
employees.
200 10 to 30 days
Required number
of employees in
the project and
identify duties
Explain the objectives and
goals of the business after
that should identify require
number of employees and
their duties those have to do
in this project plan(Smith
Gonin and Besharov2013).
100 15 to 20 days
Training and
learning
In this stage have to provide
training and learning to
employees and their team
workers so they can
understand how to do work.
200 to 250 30 days

Specified baseline
of working
schedule
After the training should
specified working schedule
according to employees
capabilities And their skills.
150 20 to 30 days
Financial
statements
After specify working
scheduling to employees
have to prepare a financial
statements in which
mention all financial
details.
150 to 200 40 to 70 days
Strategies and
techniques
In this stage have to choose
some selected and suitable
techniques and methods to
employees according to the
environment of the
company that should help
to achieve goals and
objectives of the business.
100 50 days
Employment
planning
Selected and choose
strategies and techniques
related to the business
project after that should
prepare an effective plan
for all employees so they
can understand their
specified works (Polonsky
and Waller 2014 ).
700 50 to 60 days
Evaluations and
identification(Pol
onsky and
After that evaluate all
employees working per-
planned and their working
200 50 days

Waller2014) quality if they have any
issues and problems so by
the company should resolve
them
Implementation In the last stage proper
evaluation and
identification all issues and
problems then should
implement the business
plan.
400 70 to 80 days
P3. Produce a work breakdown structure and a Gantt chart to provide time frames and stages for
completion
To complete the research project there are mainly using two methods those provide actual
and reliable information(Kowalkowski, Kindström and Brehmer, 2011). First method is Work
break down method(WBS) in this method all works and activities are divided on the basis of
their priorities in the research project. In which include project cost, resource, time scheduling
and so more those are related to the project. There are some stages those are under the below:
Work breakdown structure
 Defining the scope of project: In the WBS method first of all have to define the objective
and scope of the research project to project team so they can easy to evaluate their
responsibilities regarding project and set their targets.
 Assigning the works: After defining the scope of research project then should assigning
the works and task to all project members and also assign their responsibilities.
 Control baseline: in this stage should set a base line in which project manger through
should control on employees and their working performance.
 Measurement: When completing the project work after that comparing with their decide
standard of performance and targets.

 Collective information: after the measuring the performance of the employees should
collect the information related to the research project(Kerzner, 2013.).
Illustration 1: work break down(WBS)
Gantt chart
Gantt chart is second one method to effectively completing the project work so there are
some stages to prepare Gantt chart those under the below:
 Understand the work break down structure: To prepare the Gantt chart firstly should
understand the work break down structure and their mention all detail related to the
research project.
 Gathering the information: after that should collecting or gathering the information of the
project. That information help to create Gantt chart of the research project.

 Build timelines: In this stage identify the time line of project activities and work. And
evaluate how much time activities will be conducting to completing in the effective
manner.
 Lay out: In this stage set all activities and work according to their deadline in the research
project. In the firm of bars on the graph(Keller ,Parameswaran and Jacob, 2011).
 Evaluation and analysis the relationship between phases of the research project.
 Implementation the collected information into the Gantt chart software by using methods
and techniques according to the research project.
Illustration 2: Gantt chart

PART 2
P4. Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives (Research methodology)
Name:
Age:
Gender:
E-mail:
Q. 1 Do you think that Corporate social responsibilities are important and also necessary for the
business activities of Tesco and can help in growth and development.
A) Yes
B) No
Q. 2 Do you think that there is any kind of relationship between the competitive advantage and
Corporate social responsibilities.
A) Yes
B) No
Q. 3 Do you think that Tesco need to keep the corporate social responsibilities on the prior
basis.
A) Agree
B) Disagree
C) Moderate
D) No comments
Q. 4 What do you think about the problem which is mostly face by Tesco.
A) Satisfaction of employee
B) Value and satisfaction of customers
C) Employee rights
D) Child labour

Q. 5 What do you think that how can Tesco improve their corporate social responsibilities, by
providing-
A) Environmental safety
B) Women empowerment
C) Child protection
D) Conduct Health and safety programs
INTERPRETATION
Q. 1 Do you think that Corporate social responsibilities are important and also necessary for the
business activities of Tesco and can help in growth and development.
Response
A) Yes 40
B) No 10
Interpretation:
According to the above mentioned question 40 respondents think that CSR is very
essential for the development and growth of Tesco but 10 respondents do not support this.
Q. 2 Do you think that there is any kind of relationship between the competitive advantage and
Corporate social responsibilities.
Response
A) Yes 35
B) No 15
Interpretation:
According to the above argument 35 respondents think that it is necessary to maintain the
relationship between CSR and competitive advantage but irrespective of that 15 respondents do
not support this argument.
Q. 3 Do you think that Tesco need to keep the corporate social responsibilities on the prior
basis.
Response
A) Agree 38
B) Disagree 5

C) Moderate 7
Interpretation:
According to the above discussion 38 respondents are agree that it is priority of Tesco to
fulfil CSR but 5 respondents are totally disagree and 7 respondents are moderate.
Q. 4 What do you think about the problem which is mostly face by Tesco.
Response
A) Satisfaction of employee 10
B) Value and satisfaction of customers 10
C) Employee rights 15
D) Child labour 15
Interpretation:
As per the above discussion 10 respondents out of 50 are think that problem of employee
satisfaction is face by Tesco. 10 other respondents think that they there is a problem of value and
satisfaction of customer and 15 respondents think that there is main problem of rights of
employee and remaining are in favour of child labour.
Q. 5 What do you think that how can Tesco improve their corporate social responsibilities, by
providing-
Response
A) Environmental safety 12
B) Women empowerment 12
C) Child protection 6
D) Conduct Health and safety programs 20
Interpretation:
As per the above discussion 12 respondents out of 50 are in favour of environmental
safety and 12 respondents are favour women empowerment. But 6 respondents favour the child
protection and remaining are in favour of health and safety program.

Log book
Month 1
Establish a research program on the monthly
basis
Evaluating and analysis the collected
information by CSR plan.
Issues regarding research project and their
activities.
Threat of not achieve goals and targets of the
research project.
Determining and identification of issues Proper identify all information and their issues
and reject useless data.
New effective ideas Using new and smart techniques
Training and learning activities and
programmes
Decided objectives and goals of the research
project
Effective planning for next month Techniques and methods for identifying issues
and problems.
Research planning by using methods Target customers and their competitors in the
market.
Review and feedback regarding research
project
Implementation and proper evaluation
Month 2
Establish a research program on the monthly
basis
Evaluating and analysis the collected
information by CSR plan.
Issues regarding research project and their
activities.
Collective information may be unrelenting
Determining and identification of issues Technical issues and problems
New effective ideas Smart and specialist employees
Training and learning activities and New and attractive method of conducting

programme survey in the market
Effective planning for next month To achieve the target should clearly define the
objectives and goals.
Research planning by using methods Provide proper information with written
statements
Review and feedback regarding research
project
Effective improvement and updating by using
methods
Month 3
Establish a research program on the monthly
basis
Evaluating and analysis the collected
information by CSR plan.
Issues regarding research project and their
activities.
Customers are needs and wants are not full fill
Determining and identification of issues Problems due to research project
New effective ideas Proper design and planning to collected data
regarding research project
Training and learning activities and
programme
Analysis the research project in the systematic
manner
Effective planning for next month Customers needs and wants identify then try to
full fill in the effective manner.
Research planning by using methods CSR activities and programmes through
provide healthy environment
Review and feedback regarding research
project
Works should completing in the effective way
Month 4

Establish a research program on the monthly
basis
Evaluating and analysis the collected
information by CSR plan.
Issues regarding research project and their
activities.
Segmentation of all social sectors.
Determining and identification of issues Divided all works and activities to the project
team.
New effective ideas Effective technology with smart ideas relating
to the research project with effective
employees or specialist
Training and learning activities and
programme
Set effective and clear questionnaire for
customers
Effective planning for next month Research project earning profit as well as
social benefits
Research planning by using methods Suitable techniques and methods to resolve
problems
Review and feedback regarding research
project
Effective works and performance by
employees

PART 3
P5: Analyse your research and data using appropriate tools and techniques.
Tesco always made new plan for the new research and it can be of many types like
quantitative research and qualitative research. Tesco conduct research so that they achieve the
desired goals and objectives which is decided by them. By using method of research Tesco can
collect data for their business easily and also interpret those data (Doherty, Ashurst, and Peppard,
2012).
If Tesco wants to improve their productivity then they can also use tools and techniques
for this purpose. If data is collected properly then it will also help in the forecasting of business
which will help in the improvement of the Tesco's future. They can also compete their customers
and can easily fulfil the needs and wants of their customers. They also need to fulfil the
responsibilities regarding their society which will also help in their development and growth.
With the help of research method Tesco also can easily improve their sales and
productivity which will help to enhance their profit (Bloch, Blumberg and Laartz, 2012). It is
main priority of the Tesco that they have to focus on the corporate social responsibilities so that
they can compete their competitors.
The data and information which is collected with the help of research is very useful for
Tesco in their forecasting of business as well as in decision – making process. Some respondents
are in favour but some are against so the data is useful for fulfil their needs and wants also.
The interpretation of the survey can be presented in the form of graph which is as follow:

1.
2.
Yes No
0
5
10
15
20
25
30
35
40
Yes No
0
5
10
15
20
25
30
35
40
45

3.
4.
5.
Agree Disagree Moderate
0
5
10
15
20
25
30
35
40
Satisfaction of employee
Value and satisfaction of customers
Employee rights
Child labour
0
2
4
6
8
10
12
14
16

P6: Communicate appropriate recommendations as a result of research and data analysis to draw
valid and meaningful conclusions.
Tesco conducted research and gathered data which will help company for analysis their
business activities. It also helps to improve their existing procedures and can also support when
they introduce new process for their business. If Tesco wants to develop and grow in the country
then they have to produce their product more creatively and innovatively. If company wants to
introduce new plan or project then they can also conduct research for this purpose. It is also
necessary that if company develop their CSR activities then company will get success.
If there is an open communication in Tesco then employees or workers can easily share
their problem and information with their managers or superiors. They can provide suggestions to
them for any problem. Employees of Tesco also provide some innovative ideas related to CSR
activities so that company can fulfil it more effectively and efficiently (den Hertog, van der Aa
and de Jong, 2010).
P7. Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance
If company wants to achieve their goals and objectives then Tesco can conduct research
with the help of their employees or workers. If research can conduct properly then we can easily
learn about their business. We can learn in different ways and can also relate it with the
stakeholders which is very useful for the success and development of the business. If Tesco
Environmental safety
Child protection
0
5
10
15
20
25

maintain the better relationship with the stakeholders then it will help to create good position in
the market. Tesco also conduct induction programs for their employees so that they can improve
their skills and knowledge and will also help in their work efficiency. If proper training is
provide to the employees then it will help to reduce the cost and improve productivity and sales.
It will also enhance their performance and the profit of the company. If Tesco produce better
quality of products and services then it will also help to provide customer satisfaction and help to
take the advantages from the competitors (Eckerson, 2010). Employees of the company can also
do their work within the given time limit. It is also necessary that research must provide welfare
to the public. Tesco also use various types of tools and techniques for their development and
growth.
Learning helps to increase the knowledge and development of people. It also helps me
that I can increase the productivity of the product of my company with the help of survey. I can
also introduce new products for the customers that will also help in increment of profits. I can
also develop new services for the customer to provide them more satisfaction.
CONCLUSION
As per this project report business are working for their own profits as well as they
conduct CSR activities and programmes for society by these activities and programmes provide
safety and security and fair environment to increase employees performance of employees or
their team workers. CSR activities are working for social benefits and provide them a healthy
environment so they can work effectively and build trust on Tesco. Tesco is the retails chain that
provide all kind of products and goods to the customers and full fill their needs and wants.
Project business plan help to increase productivity and help to build effective market image. Any
kind of research project conduct something new and innovative things and information those
help to achieve goals and objectives of the company. To evaluate collected information and data
by research project there are using smart techniques and methods those are provide relent data.
Information collected by conducting survey in the market in which asking some questionnaire to
customers and try to collect review and feedback. In the other hand, research project help to
collect new and innovative information towards the company. Its help to achieve goals and
objectives in which conducting training programmes by this increase working performance and

their working involvement of employees in the research project. To develop business in the
effective manner so there are adopting experts to create smart research planning and help to
conduct objectives and goals of the company. That's why research project play an vital role to
develop business in the systematic manner and also develop employees working performance so
they can working effectively and efficiently in the company.

REFERENCES
Books and Journals:
Ajmal, M., Helo, P and Kekäle, T., 2010. Critical factors for knowledge management in project
business. Journal of knowledge management. 14(1). pp.156-168.
Bloch, M., Blumberg, S and Laartz, J., 2012. Delivering large-scale IT projects on time, on
budget, and on value. Harvard Business Review.
den Hertog, P., van der Aa, W and de Jong, M.W., 2010. Capabilities for managing service
innovation: towards a conceptual framework. Journal of Service Management. 21(4).
pp.490-514.
Eckerson, W.W., 2010. Performance dashboards: measuring, monitoring, and managing your
business. John Wiley & Sons.
Freeman, R.E., 2010. Strategic management: A stakeholder approach. Cambridge University
Press.
Keller, K.L., Parameswaran, M.G. and Jacob, I., 2011. Strategic brand management: Building,
measuring, and managing brand equity. Pearson Education India.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kowalkowski, C., Kindström, D. and Brehmer, P.O., 2011. Managing industrial service
offerings in global business markets. ournal of Business & Industrial Marketing 26(3)
pp.181-192.
Polonsky, M.J. and Waller, D.S., 2014. Designing and managing a research project: A business
student's guide. Sage Publications.
Smith, W.K., Gonin, M. and Besharov, M.L., 2013. Managing social-business tensions: A
review and research agenda for social enterprise. Business Ethics Quarterly, 23(03),
pp.407-442.
Sparrow, E., 2012. Successful IT outsourcing: from choosing a provider to managing the
project. Springer Science & Business Media.
Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual
framework for project governance. International Journal of Project Management 32(8)
pp.1382-1394.