Leveraging Technology for Business Success

This assignment analyzes the crucial role of modern technology in achieving sustainable business success. It delves into how organizations can effectively utilize technology to enhance operations, increase profits, and achieve their strategic goals. The discussion encompasses investment strategies in technological advancements and the impact of e-marketing on marketing success.

MANAGING A
SUCCESSFUL BUSINESS
(IMPACT OF DIGITAL
TECHNOLOGY ON SMALL
BUSNIESS ENTERPRISES)

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Small business enterprises and its aims and objectives.........................................................1
P2 Produce a management plan..................................................................................................2
P3 Work breakdown structure and Gantt chart...........................................................................4
Task 2...............................................................................................................................................6
P4 Small scale research...............................................................................................................6
Task 3...............................................................................................................................................8
P5 Use appropriate tools and technique......................................................................................8
P6 Recommendation.................................................................................................................12
Task 4.............................................................................................................................................13
P7 Reflection.............................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
Books and journals....................................................................................................................15
Online........................................................................................................................................15

INTRODUCTION
In this competitive world every company think to expand their business across the
boundaries of their limit. Although the digital technology is helping many small company to
grow and innovate their ideas to compete with the competition, even proper decision can also be
made by organisation. Therefore digital technology is making firm to send and receive
information or data in right way, so that they can earn high and maximum profits from market
and can adapt the changes as well to receive benefits as well (Stokes, Wilson and Wilson, 2010).
The report will talk about CARWOW, which is small business who is using the technology in
right way. Company is a franchise who is dealing in new cars and provide cars to the customers
on reasonable prices as firm is having a direct connection with manufacturers of cars. Report will
discuss about aims and objective firm is having and then plan, entity will make in developing
themselves. Analysis of data will be done by using various appropriate tools and techniques.
Therefore recommendation has to be made so that any consequences coming in between can be
solved in easy way.
Task 1
P1 Small business enterprises and its aims and objectives
The company CARWOW is going with digital technology and they are using such in
right way so that they can maximise their profits and can go with innovation and expansion of
their business. Although creating and innovating the products and services by company help
them to grow in proper manner. Therefore, when the firm achieve their goal and objective in
market and be able to make themselves stable in market then they think to expand their business
in large market (Peppard and Ward, 2016). Thus bringing new technology and producing
innovative and creative products and services for customers an making satisfy with such and then
this help to take the entity beyond boundaries. Although the aim of such report is to study that
what type of impact digital technology is having on small business. Normally expansion of
business also help in developing society with economy as well. The aims and objective of firm is
being in market is as follows:
 To become the first choice of customers in purchase of cars with using digital technology
effectively.
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 Innovative and creative ideas in products and services so that the consumer can make
themselves happy.
 Objective is to uplift the society in efficient manner so that their standard of living can be
improved.
 Although analysing that technology is giving helping hand or not in bringing
effectiveness or efficiency in innovation.
 To provide car to customers on right time and in the way they want.
Therefore aims and objectives of firm has been included and thus it is almost needed to
analyse and understand the question of research that whether proper data and information is
being collected so that the company can make a helping and fruitful decision for firm (Porter
and Kramer 2011). The question which has to be asked by organisation to themselves are as:
 Is it really needed to reduce or cut down the use of technology in firm ?
 It is required to assess and analyse the technology that whether they are giving their
helping hand in innovation and creativity or not ?
 The most important thing which has to be known is that, did new technology is a fruitful
for CARWOW or it will help small enterprise to grow ?
Although receiving all the information and data of such question in correct way help the
company to grow in right way. Collecting information from research in market make firm to
produce a healthy decision in entity so that they can attain their goal and objective in time period
which is being stated in their policy.
P2 Produce a management plan
In this modern world of competition it is required by company to produce a management
plan so that whole organisation can work as one. Plan made in company provides direction to the
company that in which way they have to perform their task and in what time period they van to
complete as such. Every firm small or large they have to prepare a plan so that entity can attain
their aims and objectives in effective manner (Laudon and Laudon, 2016). Effective strategies
are also included in management plan as it also include external factors which affects the
strategies of company which could be very risky for the entire organisation because every
department in firm is dependent on each other and has to perform their task in effective way.
Generally it is also their that the plan is made to know which factors are impacting them in
productivity. Although the plan which covers the all points are as follows:
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Cost: Every company whether large or small company is producing the products and
services in proper manner thus is the responsibility of firm that they should decrease cot of
production so that they can set the reasonable prices for the customers and to make them satisfied
with the quality products and services, so that company CARWOW can attain their goal and
objective in effective manner (Hotho and Champion, 2011). Even attainment of their aim and
targets make firm to innovate and expand their business in efficient manner. Therefore the main
thing is to reduce the cost.
Time: The company has to make a time schedule which makes firm to complete their
task, even though firm can divide task or work to those who are specialised in such area or
having a great knowledge and skills for completing task on time. Although schedule in company
help them to complete their task on time. Every employee should complete single task at one
time so that quality can also be seen, rather being a multi-tasking doing so many task at a
particular time. Time thus help company to finish their work as schedule and develop in proper
manner.
Quality: Therefore the company perform so many task at particular time so it is required
that they should make a time schedule so employees can complete their task on time. Quality in
product and services can be seen with the technology used (Teece, 2010). Although the
customers are rationale in nature they need those goods and service which can provide them
satisfaction in right way. To make them satisfied the company CARWOW is producing quality
service for consumers so that they can become existing customers for longer period.
Communication: This is that which is the most important aspect of every organisation as
communication is backbone of each and every firm. Although communication is required at
every stage of life and on each level as well so that coordination can be bought in between each
department and member of organisation. This aspect help company to get their work on time and
with interaction among senior manager and employees makes them to work effectively and thus
they work with whole motivation and dedication as well.
Risk: The risk is that which makes company to loose their image and existing customers
in market. Risk is such which cannot be eliminated, firm has to reduce it or ignore it to move
further and thus senior manager has to teach the employees and other members of entity that how
they have to face challenges and risk in proper manner. Getting information about risk and using
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such data and information in strategy makes firm to utilise such in right way so that risk can be
reduced.
Resources: It is that which is being need by every organisation in this world. Therefore
resources are that which is helping firm to expand and to get their aims and objectives in market.
Resources include manpower, finance, assets and raw materials which all such help in producing
product and service in quality manner (Dezdar and Ainin, 2011). Digital technology help the
small firm to develop and expand their business in effective way.
Scope: The digital technology help firm to enhance and use them properly which make
firm to attain their aims and objectives in effective manner. Scope is such how small companies
can use their resources with technology to met the customer demands for their particular product
and service.
P3 Work breakdown structure and Gantt chart
The work breakdown structure help CARWOW to divide the work load into different
section so that task or work can be completed on time. This concept includes a hierarchical way
or in the tree way, which help senior manager to know various departments in organisation.
Dividing the task in departments make firm to get effective working in firm, choosing the right
department and person to complete the work in time although it also includes choosing that
individual who have right skills and knowledge in specific area help firm to attain their goal and
objective in efficient way. Communication among every department is required, therefore
coordination among departments and members is needed so that company can get their strength
of completing various task on time and thus with all such firm can think to expand or can
develop industry as well on large scale.
The strategies are made after collecting information from the market and thus gathering
data and information makes firm to make efficient decision for whole organisation as one.
Normally strategies help company to know the boundaries and way in which they have to
perform task and complete it. Work breakdown structure does also help in making a effective
policy for employees.
The Gantt chart also help work breakdown structure to receive information that which
task is being completed on time and which task or work took the most time to complete it.
Therefore with such information the company can make a effective policy and can come on
effective decision as well which will help in attaining goal and objective. All such the work
4

breakdown structure does help the company to know the coordination among division and
collaboration which make entity to complete their work on time. Efficient policy for those task
who took most time will make firm to reduce maximum time taken by organisation. The Gantt
chart as:
Task 2
P4 Small scale research
Thus the research is that which help industry to have effective decision in industry.
Research help to collect information and data and such can be used by company in making
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strategies and policy for firm so that they can work efficiently and can satisfy different customers
easily. Therefore it has seen that research and after making effective policy help company to
reduce chances of risk and its affect. The various research is as follows:
Qualitative research: Qualitative research is such which help industry to make an
effective decision and through the research firm is able to receive information and data in form
of name, nature and code. This help in making an efficient decision and strategies which is
making a entity to perform better in any situation as well. This type of research is used when a
company wants to receive the recommendation or feedback for something, although needs and
wants of customers can also be known with this. This type of research is done by with help of
(interviews, questionnaire and surveys etc.)
Quantitative research: This type of research is done when company wants to receive
information or data in form of mathematical form or statistics form. The company CARWOW
sometimes also goes with such type of research as this help organisation to make a effective
decision while making budget. This type of concept are used in both the enterprise whether it is
large or small to attain their goal and objective in effective way.
Primary research: Although the primary research means collecting information or data
directly from market and this is also known by first hand collection of data as thus this make firm
to make a effective policy and plan so that company can compete with other firms in proper
manner. All such the mediator is also not included in this type of research.
Secondary research: Therefore such type of research includes those information and data
which is taken from earlier researches and records or may be from literature reviews as well.
This research is also known as second hand gathering of data. Collection of information from
this method is also used to have though that what is going to happen in near future. Although
such kind of information is already being used by any other company.
Sampling: This means receiving information about the company or organisation and thus
it also includes to have information and data regarding customer and their needs and wants so
that they can produce a proper plan and can satisfy such after getting all information about
customer. Feedback and recommendation can also be seen with such research although all
information is gathered with the help of questionnaire which is being prepared by company to
know the thought and view consumer share about them.
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Therefore the survey is done of 20 people which make company to know that
implementation they are having of digital technology is good or not for the firm and how they
are helping the entity to gain growth and development.
QUESTIONNAIRE
Name:
Contact No:
Email id:
Address:
1.) Is CARWOW company growing in better manner with use of technology ?
a.) Yes
b.) No
2.) Technology is having a positive or negative impact on Company ?
a.) Positive
b.) Negative
3.) Do you feel that technology is helping in innovation of products ?
a.) Agree
b,) Disagree
4.) Technology will be used by company is for what period ?
a.) Long period
b.) Short period
5.) IS CARWOW using the technology in effective manner ?
a.) Yes
b.) No
6.) Is digital technology is helping to have more investment in company ?
a.) Yes
b.) No
7.) Do any changes required to be done in services ?
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a.) Yes
b.) No
8.) If Yes is the option chose in above then what changes is needed ?
…......................................................................................................................................................
.................................................................................................
Task 3
P5 Use appropriate tools and technique
Therefore the analyses is needed for the company so that they can use information and
data in right way, as such data and information can help the company to make a successful
decision and strategy as well. The result of of survey did in market is as follows:
Theme 1: CARWOW use technologies in order to grow in international market.
Is CARWOW company growing in better
manner with use of technology ?
Observation
Yes 12
No 8
Interpretation: The above question was asked from 20 people in market to know their views for
particular thing that whether the technology is helping the company to grow in proper manner for
such the review of people was, 12 out of 20 people said that modern technology is helping
company to grow further and 8 out of 20 people said that no modern technology is affecting the
business as with the time technology are also changing and in such situation firm is not providing
quality services.
8
Yes No
0
2
4
6
8
10
12
14 12
8
Column B

Theme 2: Whether the technology is affecting the function of company.
Technology is having a positive or negative
impact on Company ?
Observation
Positive 15
Negative 5
Interpretation: The above question was asked to people that whether the technology is having
their positive or negative impact on company. Thus it is helping or making to loose the market
for such the review received was like, 15 out of 20 said that modern technology is having a
positive impact on company and helping in great manner and on other side 5 out of 20 said that
its a negative impact as company always gets busy to choose the best technology to expand their
business or something.
Theme 3: Is technology is helping in innovation of product
Do you feel that technology is helping in
innovation of products ?
Observation
Agree 16
Disagree 4
9
Positive Negative
0
2
4
6
8
10
12
14
16 15
5 Column B

Interpretation: The question was that whether the technology is helping in the innovation of
goods and services so that company can attain their goal and objective as well. From survey it
has come out that 16 out of 20 people are agree that technology has played a crucial role in
getting innovation of product and service and 4 out of 20 said that they are disagree that modern
technology does not help in innovation as because innovation and creativity is idea of people not
technology.
Theme 4: Is company has to use the technology for which period.
Technology will be used by company is for
what period ?
Observation
Long term 10
Short term 10
Interpretation: From review of people about, that technology used by company is for long term
or short term although the comment for such question of customers were like, 10 out of 20 said
10
Agree Disagree
0
2
4
6
8
10
12
14
16
18 16
4
Column B
Long term Short term
0
2
4
6
8
10
12
10 10
Column B

that technology is used by the company is for the longer period and 10 out of 20 people said that
technology is for short period because technologies changes with time etc.
Theme 5: technology used by company is in effective manner or not.
IS CARWOW using the technology in
effective manner ?
Observation
Yes 18
No 2
Interpretation: Is the technology is being used by company in effective manner or not, just to
know that the review was come in front fr such question and the comment was like, 18 out of 20
said that CARWOW is using the technology in efficient manner and 2 out of 20 said no they are
not using because quality product can also be produced with such technology.
Theme 6: Is technology helping to have more investment.
Is digital technology is helping to have more
investment in company ?
Observation
Yes 14
No 6
11
Yes No
0
2
4
6
8
10
12
14
16
18
20 18
2
Column B

Interpretation: Is technology is helping in having a investment further in great manner so that
company can earn more for such the review was like, 14 out of 20 said that technology does
helping in bringing the chances of investment and 6 out of 20 says no it is not because
technology is not used effectively by company.
Theme 7: Any changes should be there in services.
Do any changes required to be done in
company ?
Observation
Yes 15
No 5
12
Yes No
0
2
4
6
8
10
12
14
16 14
6 Column B

Interpretation: Does any changes is required in the product or service in company for such the
review of customer was like 15 out of 20 people said yes because the firm is not be able to meet
up the expectation they have for services although 5 out of 20 said no changes is required in
service because they are performing well in market and if change made then system of service
provide will be distracted.
P6 Recommendation
Recommendation are provided to such company who are ready to bring changes in
themselves as such the firm CARWOW who is working at small scale and using the digital
technology which is helping them in effective manner so that they can expand their business on
large level. Although it is vary useful for the company to use technology to advertise on TV or
mobile so that large population can come to know about company and to use their service and
product. Therefore it has been seen that change in time also bring change in effectiveness of
technology upper level of company adapt the changes but the employees does not get ready to
have that so for such firm goes with organising a training and development of employees so that
they can adapt the changes easily and can work accordingly to time. Having such situation in
entity make them to perform in correct way and employees does work efficiently and effectively
so that company can go with to attain their goal and objective.
The various recommendation for the entity to improve product and services are as
follows:
 Effective training should be provided to the employees of company so that they can work
effectively and efficiently, although can adapt the changes as well.
 Disciplined planning and policy can be made so that work can be done in right track.
13
Yes No
0
2
4
6
8
10
12
14
16 15
5
Column B

 Innovation and creativity can be helpful for entity just because through this the company
can attract many customers easily.
 Improvement in services and products does also help the entity to grow and develop their
business to large extent.
 Although technology has negative impact on the firm which has to be undertaken to
reduce the chances of risk and getting higher profits in correct way.
 Lowering the cost of production will help the firm to set the good price for service and
products in proper manner.
Task 4
P7 Reflection
Therefore the report has stated, I with this report come to know about the using of
modern technology is very useful for company as they help in using such in effective and
efficient manner so that firm can attain their goals and objectives. Somewhere such kind of
technology not only help in effectiveness thus they also include productivity and gain of profits
as well. Although I learned many new things with this report like Gantt chart and knowing
systematic approach. It was there that I tried to use all such information in right place although I
used management plan as well in which the cost, quality and time etc. was there and with the
help of work breakdown I was able to divide the work according to divisions and it helped in
completing the work on time as well, with all such report I learned new skills and knowledge and
ability to work in effective manner.
CONCLUSION
The above report has discussed about the various things like use of modern technology in
small company help them to increase in proper manner and thus it help firm to have innovation
and creativity in their products and services as well so that entity can high revenues. The small
industry CARWOW has also used the technology in market to compete with others firms in right
track and to expand their business from small scale to large scale. Therefore the technology is
providing their helping hand to company so that they can earn higher profits and maximum
productivity. Although organisation is working hard with modern technology so that they can
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become a stable in Company as well in market. Organisation is thus making investment in many
other places from where they can get higher returns in proper manner. Effective working by
company with the technology make firm to earn higher profits and attainment of goal and
objective.
REFERENCES
Books and journals
Cavusgil, S.T., et. al., 2014. International business. Pearson Australia.
Dezdar, S. and Ainin, S., 2011. The influence of organizational factors on successful ERP
implementation. Management Decision. 49(6). pp.911-926.
Eid, R. and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal. 33(1). pp.31-50.
Fitzgerald, M., Kruschwitz, N., Bonnet, D. and Welch, M., 2014. Embracing digital technology:
A new strategic imperative. MIT sloan management review. 55(2). p.1.
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Hotho, S. and Champion, K., 2011. Small businesses in the new creative industries: innovation
as a people management challenge. Management Decision. 49(1). pp.29-54.
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education
India.
Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.
Porter, M.E. and Kramer, M.R., 2011. The big idea: Creating shared value.
Stokes, D., Wilson, N. and Wilson, N., 2010. Small business management and entrepreneurship.
Cengage Learning EMEA.
Teece, D.J., 2010. Business models, business strategy and innovation. Long range planning.
43(2). pp.172-194.
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
Online
Managing a successful business 2017. [online]. Available through
:<https://www.bizmove.com/general/m6b.htm>.
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Appendix
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