Managing a Successful Business Project of Rolex
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Added on 2020-06-06
Managing a Successful Business Project of Rolex
Added on 2020-06-06
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Managing a SuccessfulBusiness Project
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1. Aim and objectives of research........................................................................................1P2. Project management plan.................................................................................................2P3. Gantt chart and Work Breakdown Structure....................................................................3TASK 2............................................................................................................................................5P4 Small research by applying qualitative and quantitative research approach ....................5TASK 3............................................................................................................................................7P5 Research and Data Using appropriate techniques and tools ............................................7P6 Recommendation to draw valid and meaningful conclusion .........................................15TASK 4..........................................................................................................................................16P7 Reflection on understanding research to meet desire performance and objectives ........16CONCLUSION .............................................................................................................................16REFERENCES..............................................................................................................................18
INTRODUCTION Advanced technology is identify as an important and essential part of business successand development. Each and every organisation applies advanced technology with the purpose ofachieving long term goals and objectives of company. It is also beneficial for them to attractmillions of customers towards digital technology in a quick way. One of the main advantages ofthis is to provide certain opportunities to collect accurate information and data for long duration.Further, one of the essential features of new technology is that it supports the organisation to dobetter advertisement of its services and products (Ahmed Dine Rabeh and et. al., 2013). This isalso valuable because it generates maximum profits and revenues of enterprise in limited timeperiod. This report is based on Rolex which is a watch provider company operating worldwide.Main aim of this business is to give quality and branded products to their clients. Thisassignment describes about the aim and objectives of project and its management plan. In orderto identify the needs and wants of customers regarding topic, an enterprise uses various toolssuch as qualitative research, Gantt chart and Work Breakdown Structure. TASK 1P1. Aim and objectives of researchIn the modern business scenario, wants and requirements of clients are modify at a quickway which is important for all organisation to fulfil their basic needs. It is also essential becauseit generates maximum profit or revenue of company (Introducing Research Methods, 2014). Dueto this, it is necessary and vital for every company to use advanced technology with regard tooffer different facilities to their clients in an effective and efficient manner. One of the mainadvantages of digital technology is to gather plenty of information and data which is useful forthe business in order to fulfil their buyer’s needs and wants. It will offer different communicationchannels to an organisation so that they can easily communicate with their clients and make themalert regarding the features and quality of products (Blackburn and et. al., 2013). All thismaximises the performance and efficiency of business operations. It is also important fordevelopment and growth of organisation in a systematic manner. . Utilisation of innovativetechnology is very expensive for the business entity. So, in this, they need more money to beendowed in this equipment. Another quality of technology is that it give million platforms to1
their customers such as Twitter, YouTube, Facebook and other sides. Each and every person usesthis which assist organisation to reach different number of clients. Further, it bring cooperationand coordination among their different departments. It is an essential part of company’s successand growth. Rolex is a watch provider company that aims to give better satisfaction to theircustomers and so they highly requires digital technology (Bovee and Thill, 2012). This supportsthe upper level management and ensure integration of firm’s operations to analyse any type ofdivination and reduce the same. Research Aim: Implementation or formulation of advanced technology to change businessoperations. Research Objectives: To evaluate the execution of digital or new technology on company’s activities To find out the requirements of business transformation To assess the performance and efficiency of digital or innovative technology onenterprise activities Research Questions: What are the ways in which impact are being made by digitalisation in business process?What are the needs for transforming operations of business? How can transformation take place in certain ways within an organisation? P2. Project management planFor the implementation of business activities and tasks, it is mainly needed by companyand its administrator to make better strategies and plans effectively. Due to this, all objectivesand tasks can be achieved automatically in a systematic manner. Main purpose of preparingproject management plan is to ensure that all activities which are assigned by project managershould be completed in set time frame (Chesbrough, 2010). In simple words, this supports theemployer in order to get proper guidelines in identifying the cost, scope, risk, resource andquality for making project successful in given time period. Rolex is an online and watch providercompany which expands their business activities and functions by the utilisation of advancedtechnology. All these elements are: Scope of project: Scope of advanced technology is very important for the businessgrowth and development. It is essential for attracting large number of clients towards the digitaltechnology. It helps the business manager in order to generate maximum profits and revenue in2
limited time period. In the business environment, there are various opportunities to develop andgrow in the competitive marketplace. It is reduce time and cost of product which is beneficial forincreasing their profit. Management of risk: Each and every company contains more risk which is essential forthe administrator to find out better element with motive of reducing at the same. Rolex is afamous company so the uncertainty included with that organisation is low (Cragg and et. al.,2011). Moreover, identification can be completed by the employer and inspect different risksource in respect to achieve positive outcomes. Quality Control: For the purpose of attracting millions of clients, an organisation has tolay on product and service quality which is offered to the buyers. It will support in getting longterm objectives and goals of company and assist in organising business operations in a smoothmanner. This type of strategy is being selected by the enterprise as they give better features intheir products or services to clients. It is also helpful in keeping a strong image and goodwill inthe marketplace as well as in customer’s mind. Cost: In order to implement the project, business requires more money at the same time.It is necessary and essential for the administrator to arrange different sources of funds. So, it issignificant part of the project success and development which needs by business manager in theorganisation. Time: It is also important and beneficial for company’s growth and development. Inregards to fulfilling the project that will be consume more time (Crane and Matten, 2016). Whenthe tasks or activities are implemented on ideal time, it decreases cost and help enterprise toattain more profit and revenue. This type of methodology is chosen by Rolex to make effectivestrategies and plans within given time period. Communication: For the achievement of business goals and objectives, company shouldcommunicate in an effective manner among different departments. It will be supportive inimplementing the better projects within set time period. This factor reduces the conflicts andmisunderstanding better all division in an appropriate manner. P3. Gantt chart and Work Breakdown StructureBoth tools are very important for the company in order to plan an effective project. Theseare complex system for the business because it classified different activities which are identify as3
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