Managing Successful Business Essay - Marks and Spencer

Managing Successful Business
Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and Objectives of project .............................................................................................1
P2 Project management plan.......................................................................................................2
P3 Time line and Action Plan ....................................................................................................3
TASK 2............................................................................................................................................8
P4 Conducting small scale research using research methods.....................................................8
TASK 3..........................................................................................................................................10
P5 Data analysis and Interpretation...........................................................................................10
P6 Recommendations on findings.............................................................................................19
TASK 4..........................................................................................................................................20
P7 Reflection on research conducted........................................................................................20
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................21

INTRODUCTION
In the global business environment, the competition between the companies are on high
level so there is a high need to bring in something new so that competitive advantage can be
gained by the company. Digital technology is that one factor which can help the company in
achieving their desired position in the market and through this all the activities are being
conducted in an effective manner as well (Ahmed Dine Rabeh, Jimenez-Jimenez and Martínez-
Costa, 2013). There are various kinds of tools and technologies which are being invented or
innovated by the researchers so that it can provide various kinds of advantages to the companies.
After implementing digital technology, every company has changed their way of conducting
activities and thus they have now shifted to traditional method to modern methods. The
organisation which is being referred here is Marks and Spencer; it is a famous retailing company
in UK which is operating in various segments like clothing, luxury products, etc. The report will
discuss about the aims and objectives of the company, their project management plans. Along
with this a research will also be conducted so as to know the impact of digital technology on the
company.
TASK 1
P1 Aims and Objectives of project
It is well known that business is having a dynamic nature which means that changes are
occurring in them in very fact rate. Therefore, it is required for the managers that they recognise
all the problems that are being arise in the company and then taking suitable actions towards it as
well. Therefore, it is very much necessary that business persons should conduct a research
through which they can conduct all the activities in a proper manner. So, in this they are taking
help of digital technologies so as to conduct their activities in an effective and efficient manner.
Digitalisation can be described as a factor which is required to be implemented in an
organisation so as to gain efficiencies and effectiveness in the company (Chesbrough, 2010).
In Marks and Spencer, they are making use of new technology so as to improve their
performance in the market and a build a good image in the market place as well. They can
implement technologies to know the needs and demands of customers in the market and then
using it to sell their products in the market.
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Topic:- Impact of Digital Technology in supporting small business growth and innovation
Background of the project:
This study is based on the retailing company; Marks and Spencer which is having a very
large market share in UK. They are serving their customers with variety of products and they are
dealing in various segments like Supermarket chain, Luxury products, clothing chain etc. but it is
also known that their clothing chain is not going on in a proper manner (Crane and Matten,
2016). Their pricing strategy is also very effective and that is why they are being preferred by the
customers. So, in order to improve its clothing division, they are making use of various kinds of
technologies which are providing help to them in various manners.
Aim: “To identify the impact of digital technology in bringing growth and innovation in small
business organisation - A case study on Marks and Spencer ”
Objectives:
 To determine the impact of digital technology in Marks and Spencer.
 To analyse the effect of digitalisation on the activities conducted in Marks and Spencer.
 To evaluate the effectiveness of digital technologies on improving the organisational
performance of Marks and Spencer
 To give recommendations on the ways through which Marks and Spencer can achieve
competitive advantage in the market.
Research Question:
 What are the ways to determine the impact of digital technology in Marks and Spencer ?
 How to analyse the effect of digitalisation on the activities conducted in Marks and
Spencer ?
 What are the factors which can help in evaluating the effectiveness of digital technologies
on improving the organisational performance of Marks and Spencer ?
 Provide recommendations on the ways through which Marks and Spencer can achieve
competitive advantage in the market.
P2 Project management plan
In this plan, the variables that are essentially considered are taken are cost, scope,
time,quality, communication, risk and resources. Thus, the supervisor of Marks and Spencer will
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influence utilization of each one of these variables to make progress in the management project.
The factors are processed as under :-
COST – In this, Marks and Spencer should contribute such a large number of funds in
order to include this new factor in their application. Innovation isn't a simple task and bunches of
investment is required to be finished by the organizations in order to get something new to the
general people (Den Hertog, Van der Aa and De Jong, 2010). Since Marks and Spencer began
with only a plan to fulfill the needs of the customers so they are making use of it in and adding
various kinds of other factors as well.
TIME – Whenever a project management plan is made, the project supervisor is given
the duty to ensure that every one of the activites are finished inside stipulated time. In the
arrangement additionally, every action is distributed a specific traverse of time and the specialist
are required to finish the procedure inside that time as it were.
SCOPE OF PROJECT – The degree of this task is extremely hige as it will open new
doors for Marks and Spencer in the market. This will help them in increasing more number of
clients and making a decent picture in market too. This will help the organizations in making
progress by rising their benefits and efficiency.
Risk – Since Marks and Spencer is a little estimated association so by getting new
development , they are going out on a limb as there are chances that individuals won't not utilize
this element. Despite the fact that they are fruitful in showcase yet at the same time risk is there.
Communication – Marks and Spencer should take care that they keep up a decent
communication channel with the goal that they can convey all the critical data to the general
people who are directing the activities. This will help in playing out the work in more simple
way.
P3 Time line and Action Plan
It is very essential for all the project managers to complete their project in the given
stimulated time period because then only they will be able to complete all of their activities
within the stipulated time period. In this, the project manager makes use of Gantt chart and work
breakdown structure so that they place all their activities in a proper manner (Eckerson, 2010).
There are several types of steps which are required to be considered by Marks and Spencer in
order to complete their activities in an appropriate manner. They are as follows:
 Problem determination
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 Analyse the gap through different perspective
 Describe terms and concepts properly
 Selection of methodology
 Population selection
 Collecting data
 Analysing data
 Conclusion and recommendation
 Submission of report
It is required that the managers should follow all these steps in a proper manner so that
the whole work operations is being conducted in a proper manner and correct direction as well.
All these steps are basically being formed from the aims and objectives of the research process.
The activities are being prepared as follows:-
S. no Task Name Duration Start Finish Predecessor
1 Identify the
problem
5 Days
2 Review the
literature
11 Days 1
3 Clarify the
problem
14 Days 1,2
4 Clearly define
the terms and
concepts
6 Days 2,3
5 Define the
population
15 Days 4
6 Collecting 5 Days 5
4