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Doc - Managing a Successful Business Project

   

Added on  2020-10-05

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6 - Managing a Successful Business ProjectImpact of digital technology on how we conduct businessExecutive summaryThe aim of this report was to critically analyse the impact of digital technology on how weconduct business. To realise this, it was structured into three stages of: research projectmanagement plan; project implementation and logbook and the research analysis andperformance review. 1

In light of this, this report has established that digital technology and its application inbusiness can have both positive and negative outcomes. The positive outcomes that aresupported by both theory and practice include enhanced how employees can stay in touchwith one another; resulted in the reduction in the cost of doing business in favour of greatervalue; resulted in the appeal to the millennial customers; resulted in improved understandingof the expectations of the customer. On the other hand, the negative outcomes supported by both theory and practice include:increased the cost at which Xiaomi manufactured its Smartphone products in the short term;resulted in the loss of personal touch between Xiaomi and its customers; resulted in increaseddisconnectedness amongst employees of Xiaomi. Table of Contents1.0 Introduction .................................................................................................................42.0 Research project management plan..............................................................................42.1 Clear aims and objectives.......................................................................................................42.2 Project management plan.......................................................................................................52.3 Work breakdown structure.....................................................................................................62

3.0 Project implementation and log book...........................................................................73.1 Research methods..................................................................................................................73.2 Accuracy and reliability of different research methods...........................................................93.2 Project log book and reflections on the business....................................................................94.0 Research analysis and performance review.................................................................104.1 Analysis of the research and data.........................................................................................104.2 Communication of appropriate recommendations...............................................................134.3 Reflections on value of undertaking the research ................................................................135.0 Conclusion .................................................................................................................14References.......................................................................................................................153

1.0 Introduction The exponential rate at which technology is changing has changes the approach at whichtechnology changes, develops and adapts. Theoretical evidence by Mithas, Tafti, andMitchell (2013) indicate that digital technology has changed the approach taken bybusinesses in ways such as the introduction of mobile solutions to businesses; theintroduction of cloud computing into businesses; high levels of customer segmentation andincreased connectivity amongst businesses and their customer groups. Similarly, Beethamand Sharpe (2013) opine the introduction of digital technology into business has reduced thecost of doing business because it has not only simplified the approach to business but alsomade it possible for businesses to leverage on the benefits of mobile technologies to increaseefficiency in the production of new products and services. Whilst, Bharadwaj et al. (2013)and Westerman, Bonnet and McAfee (2014) agree that the impact of digital technology hashad a positive influence on how we conduct business, other scholars feel that the impact ofdigital technology on how we conduct business has not always been positive. The customer-business interactions that are critical for the creation and sustenance of customer relationshipmanagement are undermined. Other scholars provide support for the negative impact ofdigital technology on business. For instance, Chen, Chiang, and Storey (2012) explicate anoverreliance on digital technology to determine the relationship between the brand and thecustomer can have a negative impact due to the limited contact between the customer and thebrand that is because of relying online methods to interact with customers. In light of this, the aim of this research is to critically analyse the impact of digital technologyon how business is conducted. The structure assumed by this research is as follows: The task1 focuses on the research project management plan; the task 2 focuses on the projectimplementation and logbook; the task 3 focuses on the research analysis and performancereview and the conclusion. 2.0 Research project management plan2.1 Clear aims and objectivesThe aim of this project is to critically analyse the impact of digital technology on howbusiness is conducted. In order to realise this aim, this report will pursue the followingobjectives: 1.To analyse the benefits of digital technology on how business is conducted2.To analyse the shortcomings of digital technology on how business is conducted4

3.To provide recommendations on how businesses can leverage on digital technology toimprove how business is conducted. 2.2 Project management planThe table 1 below outlines the costs, scope and time factors that will be used to formulate theproject plan. Table 1: Project management planProject deliverableCostScopeTimePreparation ofsurvey questions$30Focusing on questions seekingto identify both positive andnegative impacts as well aswhat can be done to improveoutcomes1 weekDistribution andcollection of surveyquestions $40Distribution of questionnairesthrough online survey monkey 2 weeks Analysis of surveyquestions $20Use of frequency anddescriptive statistics to analysefindings1 weekCollection ofsecondary dataoIdentification of 3 secondaryarticles focusing o the impactof digital technology onbusiness outcomes 1 weekWriting of the report0Focusing on writing the 4000word report1 weekProofreading of thereport$10Reading and cross checking tocorrect errors in tenses andgrammar.1 weekFinal submission0Final submission after passingthrough Turnitin systemMaintenanceexpenses$15This is an expenses ofmaintaining research work2 weeksStationary$14Expenses related to material ofstationary used in research. 1 weekSource: Summarised by this reportAs manifested in the above project management plan, the project on the impact of digitaltechnology on how we conduct business will involve 7 main deliverables. 5

In the first deliverable, preparation of the survey questions will be done. Its purpose will be toprepare the study to collect primary data that will be useful in analysing the researchobjectives. This exercise is expected to take 1 week and will cost approximately $30.In the second deliverable, the online questionnaire will be distributed and collected back fromthe respondents after a period of 2 weeks. The assigned cost for this activity is $40 because ofthe logistics involved in the distribution and collection of online questionnaires from therespondents. In the third deliverable, the analysis of the collected finding is done. The exercise is expectedto take up to 1 week and will involve the use of frequency and descriptive statistics toleverage on the measures of central tendencies to determine the views of the respondents withregards to the research objectives laid out. Based on a logistical standpoint, the whole processis expected to cost $20.In the fourth deliverable, the identification of three secondary research articles focusing onthe impact of digital technology on business outcomes is done. The exercise of collection willtake up 1 week and will focus on the identification of peer reviewed journal articles. The costof the identification and collection of secondary research articles will be zero and it can bedone concurrently with the identification of three secondary research articles. In the fifth deliverable, the writing of the report is done. This involves the writing of thereport based on the three objectives and sections of: analysis of research project managementplan; project implementation and logbook; research analysis and performance. Thisdeliverable will cost zero because it does not require any cost to write the report based on theapproach to doing, findings, and their implications. The time implication for writing down thereport will be a one-week period.In the sixth deliverable, the proofreading of the report is done. This will involve identifyingan independent colleague and asking them to read the report directly and identify anygrammatical errors, tenses errors and other inconsistencies that could undermine the qualityof the findings. This exercise will also take a week but will also be done in concurrence withthe writing of the report. In the seventh and final deliverable, the final project is delivered. This will involve zero costsbecause delivery via Turnitin does not require any additional costs. The process will be domein the course of 1 week and will be done in concurrence with other activities. The finalsubmission of the report will signal the completion of the project. 6

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