Managing Successful Business Assignment - NISA
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Added on 2020-09-03
Managing Successful Business Assignment - NISA
Added on 2020-09-03
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MANAGING SUCCESSFULBUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Aims and objectives of project..........................................................................................1P2 Project management plan..................................................................................................2P3 Work breakdown structure and Gantt chart for project ...................................................4TASK 2............................................................................................................................................6P4 Small scale research on qualitative and quantitative methods of data collection.............6TASK 3............................................................................................................................................8P5 Analysis of collected data and information.......................................................................8P6 Recommendation.............................................................................................................15TASK 4 .........................................................................................................................................16P7 Reflection........................................................................................................................16CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18
INTRODUCTIONDigitalization is very important in today's competitive world. It assists the managementof an company in taking effective decisions for growth of business. Digital technology is veryimportant in easy access of several operational activities. Such modern equipments helps instoring data and information of enterprise properly (Cavusgil, and et. al., 2014). Along with that,it also assists in communicating effectively with consumers through electronic platforms. Interms of small business organisation, modern technologies are beneficial in several activitiessuch as production, performance evaluation etc. This report is about NISA which is anindependent retailer in UK. There are certain benefits that this firm can avail by adoptingdigitalization in their business activities. This helps in bringing growth and innovation in firm. Itis required to prepare proper project management plan to accomplish the research in effectivemanner. To gather more understanding about this topic, data and information is to be collectedfrom several appropriate sources. This assignment will also include suggestions for dealing withseveral problems that influences development process of this enterprise in negative way. TASK 1P1 Aims and objectives of projectIn current competitive scenario, role of digital technology has increased. Modernbusiness environment is not very much friendly with old and redundant techniques that is why, itis required to adopt digitalisation process to maintain growth and innovation. This assists insmooth run of business activities. It is an important concept in order to improve quality ofoperations that are performed by an small enterprise (Dezdar and Ainin, 2011). To attract moreconsumers company has to use unique and effective marketing strategies. This is possible withmodern technologies to promote these goods and services to cover large segment of buyers. Allthese benefits improves financial stability of firm which is most important concept for ensuringlong term development and survival of entity. Such technologies also assists in maintainingproper record of employees by using several software. This innovation is beneficial in evaluatingand monitoring their performance in adequate manner. Topic- “Impact of digital technology on growth and innovation of business of smallenterprises: A case of NISA.”Background of project- 1
It is required for all the companies that they will cooperate with changes that are takingplace in current business environment. Digitalisation assists in adopting these transformations inorder use it in favour of firm's growth. Through these equipments management can effectivelydeal with demands of consumers by ensuring adequate delivery of goods and services. Thisprocess is very useful to make production activity efficient and producing good quality products.It is an beneficial concept that facilitates consumer loyalty by providing them commodities onadequate time. This leads to positive brand image in market place as buyers will be satisfied withfunctions of company. Aim- To analyse the impact of digital technology on growth and innovation of business of NISA.Objectives- To analyse the usage of modern technology in this company.To determine the affect of this implementation on business operations. To evaluate the feasibility of digitalization in transforming activities of this firm. Research questions- After setting these aims and objectives, there are several questions that areto be identified through this project. These are given below- How modernisation can be implemented in this firm?Why there is need to adopt changes in operational activities?In what manner digital technologies will help in bringing innovation in business?As the questions has been identified on the basis of the basis of aims and objectives ofthis project, it is required to prepare proper management plan to carry out all the activities insuccessful manner. P2 Project management planProject management plan is very important for implementing all the activities and processof this program in effective manner (Eid and El-Gohary, 2013). This ensures successfulcompletion of aims and objectives that are to be attained through this task. It consists factors likescope, cost, quality, risk, time etc. involved in whole process. NISA wants to grow its marketshare with maximum number of consumers and profitability. Digitalisation has huge scope inthis scenario so, it is required to form proper management plan for this company for successfulcompletion of this project. These essential components are described below- Scope- This is most important concept that is to be considered in management plan. It isrelated with opportunities available in market that could be grabbed by this firm in order to adopt2
digitalization. As NISA is an retail store so it has huge scope in online market. This can provideits goods and services through internet (Fitzgerald and et.al., 2014.). This helps in covering largeconsumer segment in less time that will improve profitability of this enterprise. Risk- These are related with uncertain factors that could arise during project. Thesecomponents affects the process in negative manner, so it is required to identify these risks beforestarting project. This management plan includes formulating strategies to deal with such issues inorder to minimize the impact of such risks. This will help in successful completion of task.Quality- Another important component included in this plan is maintaining quality ofproject. It is required to manage the processes and activities in such a manner that it will givebetter outcomes. This report is focussed on impact of digitalisation on growth and innovation incontext with NISA. Therefore, it is very important that, all the strategies must be formulated withcreative ideas so that innovative and good quality products could be delivered to buyers. Itwould ultimately lead to efficiency and profitability of this firm. Resources- It includes all the resources associated with this project whether it ismanpower, finance etc. For successful completion of this process, it is required to utilize all thesecomponents in effective and proper manner. There should not be any wastage related with theseresources. Management planning assists in setting all the activities in proper way so thatoptimum utilization could be done. Cost- This includes all the expenses that will be incurred in this project. If this cost willbe in excess, then it would affect profitability of this business concern. This managementplanning includes maintaining proper budget for the activities related with project. Along withthat, proper work breakdown structure is to be prepared. This helps in using the financialresources properly within limits of budget (Hotho and Champion, 2011). Time- There should be proper time management in order to complete the project onadequate time. This management planning assists in determining all the activities in advance.Along with that, it consists making schedules to specify the serial in which different tasks willtakes place. There is proper time given for every work in this plan that assists the employees toknow in what time limit they have to complete given tasks. For example, this project has beeballotted 25 days. Communication- It is very important aspect that is to be covered in project managementplan. This is concerned with interaction with employees and other stakeholders. It is required to3
communicate properly with them so that they will understand the intensity of this task. Thisincludes formulating effective strategies to maintain healthy relationship with workers so thatthey will effective cooperate in this process of adopting digitalisation. It is an important planningthat assists in motivating them to perform better. P3 Work breakdown structure and Gantt chart for project Work breakdown structure- It is an technique of organizing various activities of projectin manageable sections. This consists dividing tasks in different teams according to theirexpertise areas. It is related with division of roles and authorities amongst workers so as toreduce burden of work. This project is focussed towards impact of digitalisation on growth ofNISA so it is very essential to generate best possible outcomes that will help this firm intransforming its activities. Appropriate method to use this structure could be designing propermap for this project that will outline several levels of hierarchy. Project team can identifyimportant functional areas to that it could be divided in small parts. This helps in effectiveorganisation of all the processes as responsibilities are delegated on the basis of knowledge andskills. It provides complete framework of all the tasks that will take place in the course of thisproject. This is very important in directing employees about their works and desired goals andobjectives. Work breakdown structure focusses on core activities of project so that these functionscould be divided in proper manner. Administrative level plays an vital role in specifying severaljobs and teams that are required for completing an project. This structure is formed in the designof a tree that shows different hierarchies. Therefore, it is an beneficial mode of making plansrelated with tasks of this process so that these will be accomplished efficiently. Gantt chart- This refers to chart prepared to show complete series of activities frombeginning to end of this project. It is required to be framed to fulfil the aim of allocating gathereddata and information in adequate manner so that it will assist in effective decision making. Thischart helps in analysing the time required to complete particular task. It is based on variousassumptions of researcher. This helps in analysing those activities that are taking excessive time.Through this process company can identify such tasks and maintain it in such a manner that willnot take too much time. This could be done by making adequate strategies and policies formanaging time for these identified works. 4
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