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Managing Business Success - Harrods Ltd

   

Added on  2020-07-22

28 Pages4932 Words72 Views
MANAGING BUSINESSSUCCESS

TABLE OF CONTENTS

TOPIC“To identify the impact of digital technology supporting SME growth and innovation - Acase study on Harrods Ltd”INTRODUCTIONDigital technology influences productivity and profitability of company positively. Thecurrent assessment is based on understanding several aspects of project management for HarrodsLtd regarding using digital technologies for its business operations. In this regard, project planfor adopting digital technologies for the small scale enterprise is discussed. Moreover, researchmethods for data collection and analysing company's performance will be introduced in thisassignment. However, recommendations for project management and meeting goals areunderstood for effectiveness of Harrods Ltd.TASK 1LO 1P1) Project aims and objectivesIt is essential for any company's growth to adopt digital technologies during businessoperations. In this regard, profitability, marketability and competitiveness of the entity (Adhikariand et.al., 2014). However, aim and objectives of project on identifying the importance of usingdigital technologies for Harrods Ltd:Aim of the project:“To understand the impact of using digital technology supporting small scale entity'sgrowth - A case study on Harrods Ltd”Objectives:To identify the usefulness of using digital technologies in business operationsTo evaluate the impact of adopting digital technologies on development of Harrods Ltd.To understand the influence on marketability and competitiveness of entity by usingdigital technologiesTo recommend for project management and adopting digital technologies for HarrodsLtd.1

P2) It is required to consider different tools and aspects for project on using digitaltechnologies for business operations of Harrods Ltd (Ahlemann and et.al., 2013). For instance,cost incurred, time frame, quality of products and services, communication and so on. Inaccordance with this, some tools for managing project are to be identified as follows:Cost: For managing project, it is planned that how cost is to be incurred for digitaltechnologies and implementing business activities (Baldi, 2014). Along with this,different ideas are generated for allocating fund as well working for further project.However, expenditures incurred on purchasing materials, labour costs and additionaloverheard are planned. Likewise, it is effective for appropriate planning in relation to costincurred on project for using digital technologies for Harrods Ltd.Time frame: It is identified that project planning includes time frame as accomplishingany specific task in particular determined time (El-Hajjar and Hanzo, 2013). Forexample: conducting survey in 2-3 weeks, implementing project plan for 5-6 weeks andso on. Scope: This project on using digital technologies for development of small scaleenterprise has scope of increasing productivity and profitability of firms at higher level.In accordance with this, it will be effective for appropriate decision making andcontacting with people (Iwamoto, 2013). Likewise, project is on understanding theusefulness of digital technologies for business performance of Harrods Ltd. However,project management aspects and different tools are recognised for enhancing small scaleentity's effectiveness.Quality: It is a factor for analysing the quality of materials and resources used in projectmanagement in terms of digital technologies and business operations (Kerzner, 2013).Likewise, it is efficient for project and managing all resources for enhancing theefficiency of Harrods Ltd. Thus, quality used in project and different factors areidentified for planning and managing entire resources and funds efficiently.Communication: It is a two way process for expressing and sharing ideas andinformation from one place/person to another (Mir and Pinnington, 2014). However, forproject management, it is essential to discuss all planning and project stages with teammembers. In accordance with this, good coordination among workers can be identified2

towards accomplishing tasks and meeting goals effectively. However, communicatingcost, planning and tact for project is needed for adopting digital technologies to developthe business performance of Harrods Ltd. effectively.Risks: Therefore, analysing these risks and back-up plan are required for managingproject and reducing issues occurred in it (Popaitoon and Siengthai, 2014). However,variety of ideas is generated for project planning and getting success to adopt digitaltechnologies for Harrods Ltd.Resources: Different resources are identified for project management like finance,people and equipment used for implementing digital technologies and so on (Schwalbe,2015). In accordance with this, all resources are identified as well as planned foraccomplishing the tasks effectively. It is beneficial for optimum utilization of resourcesand fund for project and getting success in using digital technologies for businessoperations of Harrods Ltd.P3) Time frames and stages for project completionTime frame is referred as setting a specific time for accomplishing any particular task ofproject at rightly (Tekalp, 2015). Therefore, for all stages and project planning, systematictiming is set for project on using digital technologies for development of Harrods Ltd. In thisregard, time scale is set for the project is identified as follows:Table 1: Project planPlanActivityCostTime framePreparing project planAll plans are createdincluding targets forproject on identifyingimportance of usingdigital technologies forHarrods Ltd.1001 weekData collection(Survey with 10managers)Conducting surveywith 10 managers onanalysing significanceand working for2002-3 weeks3

managing projectData interpretationRespondents' viewsare analysed forproject managementand adopting digitaltechnologies forbusiness operations ofHarrods Ltd1001 weekDiscussionDiscussion on findingsis done for project andimplementingstrategies effectively1001 weekWorking for project All project plans areimplemented forentity's growthefficiently500-6004-5 weeksPerformanceevaluationActual and expectedperformance iscompared for projectand getting success.2001-2 weeksTaking feedback fromall team membersFeedback is takenfrom each teammember forparticipating in projectand working forentity's growth.1001 weekReporting Project planningprocess andcontribution of all1001-2 weeks4

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