Managing Business Performance in Various Industries

This assignment provides an overview of managing business performance in different industries. It includes a list of references to empirical studies and research papers on topics such as sustainable business models, project management, and remanufacturing. The assignment also mentions various books and journals related to the topic.

MANAGING SUCCESSFUL
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives....................................................................................................1
P2 Project management plan which covers cost, scope, time, quality, communication, risk and
resources......................................................................................................................................2
P3 Breakdown of structures and Gantt chart to provide time frames and stages for completion
.....................................................................................................................................................4
TASK 2............................................................................................................................................6
P4 Carry out of research with the help of quantitative and qualitative research methods for
meeting projects aims and objectives .........................................................................................6
TASK 3............................................................................................................................................8
P5 Evaluation of research and data with appropriate tools and techniques................................8
P6 Appropriate recommendations in context with research to draw valid conclusion.............17
TASK 4..........................................................................................................................................17
P7 Reflection on the value of undertaking research to meet objectives....................................17
CONCLUSION..............................................................................................................................17

INTRODUCTION
In this present scenario technology has played a prominent role in enhancing business of
an organisation. In the present time technologies are changing rapidly and this is beneficial for
firms in order to attain competitive advantage. Earlier people used simple tools and gradually it
is becoming more complex. Technology has assisted many companies in performing their work
in an effective manner. It has increased their revenues and value in the market areas (Crane and
Matten, 2016). Digital technology has provided many opportunities to people and with this
process they store a large amount of data for long period of time. Victorinox is a established
company who manufactures watches. In this report, various kinds of research methods are
mentioned through which a valid conclusion and recommendations are carried out. Apart from
this different plans of project management has been included along with its objectives and
particular aims. Various tools and techniques used by an organisation has been involved in this
assignment.
TASK 1
P1 Project aims and objectives
With the increase in new technologies business is growing at a rapid speed this is offering
them to manufacture quality products so as to enhance their sales and productivity. Due to
implementation of new techniques one can see a decline in traditional market (Pinto, 2015). It
provides job opportunities to people and at the same time assist nation in increasing their
revenues. Technology has made our life more easier for an example: mobile phones gave
opportunity to staff members to stay connected with each other by this an effective decision can
be made. This has raised the productivity and profit of an organisation. It is not possible to
implement latest technologies because this requires lots of funds so Victorinox should look out
for stake holders who can invest their money. Technology can be used for effective
communication between different departments. This helps a manager to provide all the resources
at right place for various situations. Providing best quality products is one of the main feature of
new technologies because it is assisting them to manufacture the commodities in better way. This
is gradually enhancing their business standards (Schaltegger and Wagner eds., 2017).
Topic: How digitalisation transformed business operations on an organization.
Background of project:
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With the increase in advanced technologies the capacity of firm of producing more
products has raised. Change in market can affect the business of an organisation thus, it is
necessary that management implement those technologies which can give them better results. It
is assisting them in providing better goods and services to their customers which decreases the
complexity of business organisation (Peters, Blohm and Leimeister, 2015). Earlier storing data
and securing was not easy but after coming of new technologies it make them possible to store
and access the data from any where. This process to happen Victorinox is using cloud
technology in which they can transfer data of their companies to different branches. Companies
can use various tools for advertising their products which includes social media, internet etc., this
is helping them to attract more and more people. A set aims and objectives are essential to be
made by managers so that company have an overview about the task which they want to achieve.
It helps all employees to complete the work in specific time period.
Aims: Introducing of new digital technologies to modify business activities.
Objectives:
 To identify the effectiveness of digital technology on an organisation.
 To determine the implementation of these technologies on business activities. To evaluate business transformation and its needs.
Research questions:
1. How to identify the effectiveness of digital technology on an organisation.
2. Ways to determine the implementation of these technologies on business activities.
3. How to evaluate business transformation and its needs.
P2 Project management plan which covers cost, scope, time, quality, communication, risk and
resources
It is very important for small scale industry and their project management team to
implement certain plans which they can use to attain their goals and objectives. Thus, main duty
of project manager is to look whether all the strategies are introduced properly and that providing
them with long term benefits. They guide employees and show them effective ways for how to
accomplish their task in specific time period (Pekuri and et. al., 2014). Hence, project
management should ensure that plans and strategies are applied in an appropriate way.
Victorinox has utilized all latest tools and technologies for expanding their business in large
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scale. Some of the elements are mentioned below which a project manager should keep in mind
before implementing any plan that are as follows:
Scope of Project: As the market area is increasing competition amongst various
organisation has raised, this has maximize the growth opportunities in various fields. Expanding
business in new places has provided scope to many companies to manufacture products as per
the needs and requirements of their customers. Along with other firms Victorinox has expanded
their business all over the world and selling their commodities not only through offline but
online as well.
Management of Risk: For increasing any business, organisation should be able to
manage risk factors in a company. They must make prerequisite the risk element before carrying
out the process the project. Thus, it is the prime role of managers to evaluate and identify various
elements which is acting as a barrier in their organisation. It will help their companies to
eliminate most of the risk (Storey, Basterretxea and Salaman, G., 2014).
Quality control: Company's duty is to provide best quality products to their customers so
that they be loyal to their organisation. Victorinox has offered superior products to their clients
which has given them competition advancement and are gradually raising their profit and sales.
Victorinox can create a seperate department where they can give their products for quality check
this will assist them to remove all waste products or the material which are not working properly.
Cost: A big amount of money is required for manufacturing best quality products thus,
company should lookout for investment companies who can provide them money so as to buy
raw materials for final goods. Thus, for adequate products organisation should generate large
funds. Other than this company should decide a reasonable rates which will give an overview to
their customers about the rates (Drucker, 2017).
Time: Time is very essential for a company to complete their task so that they can deliver
their products to respective retailers. This decreases the cost efficiency with maximum outputs
because they produce goods in particular time frame. Managers of Victorinox can attain this by
telling their employees to manufacture their commodities in certain time period.
Communication: Communication is the basic step which every organisation should
ensure. They must tell their employees about the new tools, techniques and plans which are to be
followed by them so that it makes them aware of how to perform. This creates a positive image
in front of the costumers and providing them with lot of advantages. Manager should make sure
3

that all the roles and responsibilities are being cleared. Hence, within different department
company should maintain a healthy relationship this will enhance the process of manufacturing
(Larson and Chang, 2016).
These are some of the important factors which a superiors should consider before
implementing them in any project management in plan. This assist them to attain their set targets
in specific period of time. Hence, managers of Victorinox has applied many strategies with some
changes which is providing them benefits.
P3 Breakdown of structures and Gantt chart to provide time frames and stages for completion
Research done by a researcher plays a prominent role in doing a project because
managers take help from all these resources so that they have an ideas and opinions regarding
their products. This assists them to have a proper frame work under which employees can do
their task. Through this they can make out what all resources they can use in implementing new
strategies. It will help them to take their business in forward direction and for this managers
should have a deep knowledge about a particular work so as to have a better understanding of
their work (Torry, 2017). This will aid them to deal with their problems in a better way. Some of
the steps which are essential for carrying out the process are mentioned below:
 Determine the main cause and reason of conducting the research
 Literature Review
 Elucidation of problems
 Define main concept of project
 Select suitable respondents with whom they can conduct the research
 Formulate instrumental plans
 Data analysis
Every research which are conducted involves various activities that are according to
digital transformation hence, researcher must collect data which are relevant as per the topic.
Victorinox has to follow certain steps so as to get adequate information about any specific topic.
They can expand their business through online process so that areas which are not explored can
buy from online stores. Under literature review the manager go through all the resources which
are available to him for further clarification (Ali and Shukran, 2016). Views and opinions are
essential for researcher to conduct the research in a right manner. For conducting this research
4

the researcher will choose 20 respondents by using random sampling. Al these collected data will
help them to carry out the task in effective way.
All the activities which are properly managed can easily help managers to hit targets in
timely manner. Questionnaire is the primary tool which is used by Victorinox to get appropriate
data and for this 10 questions have been formulated and respondent has to just fill according to
his/her prior choice. This will assist the researcher to initiate the final report. Digitalization has
changed the face of market thus it is important for management of an organisation to analyse that
what is good or bad for them. Below there is a figure through which this can be understood in a
better way
This particular plan is being followed by Victorinox so as to guide their employees to
perform their task and attain the goals. All these activities will guide them to complete their work
in effective manner (Wang and et. al., 2017).
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TASK 2
P4 Carry out of research with the help of quantitative and qualitative research methods for
meeting projects aims and objectives
It is necessary that company is carrying out all the business activities in a proper manner
and for this they can take help of various methods which are used in researches. Mainly there are
two types of methods which they can utilise in collecting data so that they have authenticate
results and these are primary and secondary (Introducing Research Methods, 2017)
Victorinox is using both the techniques for collecting data so as to get proper feedbacks
from their customers which is providing them with better outcomes. This assist them to expand
their business in large areas. Other than this company uses three different methods which are
mentioned below: Qualitative Quantitative
 Analytical
Mainly the researcher uses qualitative and quantitative methods so as to get pure results
with out any false information.
Primary data: Primary source of data collection is used by many researchers, they collect
data by their own so as to get authenticated results. This helps them to find proper conclusion
and recommendations. Thus. It can be said that with this process an individual can get fresh
materials which can be used for further findings.
Questionnaire
Name:
Gender:
Age:
Contact Number:
Email id:
Q 1) Whether digitalization is giving any advantage to the firm?
 Yes
 No
Q 2) Is digitalization is giving them any benefits?
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 Yes
 No
Q 3) Whether it has positive impact on business?
 Yes
 No
Q 4) Whether Victorinox is using current technologies as per the environment?
 Yes
 No
Q 5) Is it important for Victorinox to make changes in their business operations?
 Yes
 No
Q 6) Is Victorinox is having sample amount of funds and resources for storing huge amount of
data?
 Yes
 No
Q 7) Future impact of digitalization on Victorinox company?
 Positive
 Negative
 Cant' say
Q 8) Working in partnership is essential for Victorinox in order to reduce red tapism?
 Yes
 No
Q 9) For promotional activities what kind of mode Victorinox should include in their marketing
strategies?
 Modern marketing
 Traditional marketing
Q 10) Recommendations for Victorinox so as to implement digitalization?
Secondary data: In this collection of data is based on secondary resources many
organisation use this to find what the strategies other companies have applied so that firms can
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make changes accordingly which will take them to superior position. They gather information
from magazines, newspapers, articles, journals etc.
Case study one: Management of Victorinox is using various new innovative technologies which
is helping them to attract more and more people towards their organisation. This assist them to
expand their business in wider areas.
Case study second: The main feature of Victorinox is that they provides superior quality watches
at a reasonable rates which is increasing their sales and market value. They are also using
mediums which are trending in recent scenario.
Therefore, by adding digitalisation in their company Victorinox are giving a positive
impact on their customers. This is gradually increasing he growth rate of an organisation.
TASK 3
P5 Evaluation of research and data with appropriate tools and techniques
For present any data it is important to collect that in an effective manner. This aid them to
have a relevant results. Victorinox has collected all his information correctly so that they can
interpret that in order to find valid results based on this they can construct the conclusion in an
proper way.
Theme 1: Digitalisation provides advantage to business
Q 1: Whether digitalization is giving any advantage to the firm? Frequency
Yes 18
No 2
8
Yes No
0
5
10
15
20 18
2
Column B

Interpretation: From the above graph it can be concluded out of 20 respondents 17 of
them said that digitalization is proving Victorinox advantages in their business organisation and
rest of them don't agree with this. Thus, managers should implement other new digital
technologies so as to gain benefits. This also provide them with advancement in their business.
Theme 2: Digitalisation offer long term benefits
Q 2: Is digitalization is giving them any benefits? Frequency
Yes 17
No 3
Interpretation: From the graph mentioned above it can be stated that digitalisation is
giving Victorinox with long term benefits as 17 respondents said yes and 3 of them replied No,
means according to them company is having any benefits from applying digitalisation.
9
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Column B

Theme 3: Positive impact on business
Q 3: Whether it has positive impact on business? Frequency
Yes 19
No 1
Interpretation: From this Chart, it can be concluded maximum number of respondents
agree with the fact that implementing new technologies have the business in a positive way. This
will motivate their employees to work in more effective manner.
10
Yes No
0
2
4
6
8
10
12
14
16
18
20 19
1
Column B

Theme 4: Using current technologies or not
Q 4: Whether Victorinox is using current technologies as per the
environment?
Frequency
Yes 15
No 5
Interpretation: From the above graph, researcher can make out that 15 respondents
agree with this that after using new technologies the growth rate of Victorinox has enhanced and
has increased the market value. Other than this 5 out of 20 don't agree with this and wants
company to introduce more technologies.
11
Yes No
0
2
4
6
8
10
12
14
16 15
5
Column B

Theme 5: Required changes for business operations
Q 5: Is it important for Victorinox to make changes in their business
operations?
Frequency
Yes 4
No 16
Interpretation: From this graph, it can be concluded that 4 out of 20 respondents says
Victorinox requires some changes like they should advertise their products so that they can
attract more and more people. Whereas 16 of them said company don't needs any changes.
12
Yes No
0
2
4
6
8
10
12
14
16
4
16
Column B

Theme 6: Having adequate money or not
Q 6: Is Victorinox is having sample amount of funds and resources for
storing huge amount of data?
Frequency
Yes 12
No 8
Interpretation: Funds are the most important factor which is required for having best
quality products. 12 of the respondents feels that Victorinox don't have ample amount of money
for manufacturing more superior commodities. Out of 20, 8 of them don't agree with this.
13
Yes No
0
2
4
6
8
10
12
12
8
Column B

Theme 7: Impact of digitalization on Victorinox company
Q 7: Future impact of digitalization on Victorinox company? Frequency
Positive 10
Negative 5
Can't say 5
Interpretation: Digitalisation has a great impact on business environment. It can be
positive or negative. From the above graph, it can be concluded that 10 of the respondents agree
that Victorinox will have a positive impact of digitalization if it is used in a regular basis. 5 are in
favour of negative response and rest of of are in a chaos because they don't know about this.
14
Positive Negative Can't say
0
1
2
3
4
5
6
7
8
9
10
Column B

Theme 8: Partnership necessary for Victorinox
Q 8: Working in partnership is essential for Victorinox in order to
reduce red tapism?
Frequency
Yes 14
No 6
Interpretation: From the above graph it can be concluded that 14 of the respondents
think that Victorinox should work in partnership so as to increase their productivity and
profitability. This will enhance their business in areas where they have not explored yet. But 4 of
the respondents don't agree with this and feels that they should work alone.
15
Yes No
0
2
4
6
8
10
12
14
14
6 Column B

Theme 9: Promotional activities Victoronix should involve
Q 9: For promotional activities what kind of mode Victorinox should
include in their marketing strategies?
Frequency
Modern Marketing 18
Traditional Marketing 2
Interpretation: Form the above chart, it can be concluded that 18 of the respondents
feels that they can use modern marketing in which all the new tools and techniques are included
like social media sites, internet etc., and rest of them i.e. 2 think they should go with traditional
marketing so developing their business.
16
Modern Marketing Traditional Marketing
0
2
4
6
8
10
12
14
16
18
18
2
Column B

P6 Appropriate recommendations in context with research to draw valid conclusion
Victorinox has very strong positive brand image in customer's mind, so they does not
require to introduce so many changes in their existing firm operation and activity process.
Company is expanding their online business operation by using effective tools and techniques in
an appropriate manner. The main benefits of effective utilisation of resources as well as tools and
techniques is that it is helping company to achieve objectives and goals in a given period of time
thus, providing long term sustainability and high market share. Management of Victorinox has
completed their work in a very effective manner, so no need to change in their existing work
process. Firm sets new objectives and goals according to future requirement, so they want to
apply essential change with in an organisation which includes better communication network,
best HR practises and many more according to needs. Victorinox used concept of cloud transfer
to store data's & information and access them whenever is necessary.
TASK 4
P7 Reflection on the value of undertaking research to meet objectives
Researcher face many problem and obstacles to carry out whole research in a right way
according to needs and wants of research aim and goals. Project manager make effective action
plan for solve these issues and obstacles. During research researcher has faced problem related to
time and cost of whole research activities. Project manager has not enough time to implementing
research activities and that's why the instance size 20 has taken thus can not provide help to draw
a valid result and outcome. Firm are not providing appropriate budged to research that create
issue and obstacles during project to carry out whole research in a very effective manner. So
research has used internal and social media platform for gather necessary information and data's
free of cost to save resources and use these fund in a very efficient way. Research tried best to
better utilisation and allocation of funds to achieve research goals and objectives.
CONCLUSION
From the above project report it can be evaluated that for establishing the business in a
proper way it is necessary to identify the current market situation. Company should look after the
situations before executing all business activities. This includes market sector, geographical area,
demography etc., all these elements are considered as the important factors. A better
environment will help researcher to collect information in an appropriate manner. Gradually the
17

performance of the company will increase and it will help them in expanding their firms in
different areas.
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