Managing Business Models and Innovation

This assignment provides a comprehensive overview of managing business models and innovation. It discusses various aspects of business model management, including competencies for managing change, process models for organizational change during business process redesign, and cultural antecedents of innovation in the hospitality industry. Additionally, it touches on topics such as customer experience management, supply chain finance innovation adoption, software ecosystem analysis, and dynamics of business models. The assignment is suitable for students looking to understand the complexities of managing business models and innovation.

Managing Successful Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives...............................................................................................................1
TASK 2............................................................................................................................................3
P2 Project management plan.......................................................................................................3
TASK 3............................................................................................................................................4
P3 Time line and action plan.......................................................................................................4
TASK 4............................................................................................................................................6
P4 Carry out research by using proper methodology..................................................................6
TASK 5............................................................................................................................................8
P5 Interpretation and evaluate the project outcome....................................................................8
TASK 6..........................................................................................................................................14
P6 Recommendations on findings.............................................................................................14
TASK 7..........................................................................................................................................15
P7 Reflection on the research....................................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
The world is getting modernise and advanced as with new technology inventions. This is
one of a helpful term for maximising and expanding the business. Hence, digital technology has
transformed the business activities through which operations and storage of information become
easy and adequate. By using modern and advanced technology company can store their data and
communicate their information to target user within few seconds. Hence, new technology is
helpful in making the work easy and integrate the operations of business with each other. In this
assignment whole focus is based on digital technology by taking the reference of Rolex which is
one of well established organisation of internet marketing who lead to maintain their work
directly through internet (Crawford and Nahmias, 2010). In this project several things will lead
to get discussed by setting the aims and objectives which are associated with the project. After
that a proper research have to get conducted for collecting the information and generate adequate
information for the project. On the basis of such information and analysis, appropriate
meaningful recommendations have to provide for such areas which have to get improved. All
these things have to analyse in an adequate manner for making the project outcome successful.
TASK 1
P1 Aims and objectives
In the present world, it is necessary to make the business advanced and communicate the
activities according to requirement. It is a one of a revolutionary technique in the field of modern
market world where traditional market segment is getting decline as per days. Its impact on the
business is positive in nature because by this administration will take appropriate place. In such
relation cloud technology enable in transferring the files from one network server to another.
Moreover, provide platform where business can communicate their business with vast number of
customers through social media (Matos and Silvestre, 2013). As the opportunities for business
also get maximise through which their profitability as well as good will get improved. Hence, for
this adequate amount of fund is required which enable an organisation to make their business
expansion easy and more appropriate. As by this, they can reach to vast number of users because
now a days many people use social media a best platform for conducting operations. It has
several number of advantages which aid an business in connecting their work with each of their
departments in several regions. As by this, they are making work integrated with network to all
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the divisions of office for identifying the deviations which are taking place. Thus, this
digitalisation provide benefit to business for making their services effective and taking decision
on frequent basis. Thus, its impact on business is positive in nature.
Topic: How digital technology transformed the business activities:operational, marketing, HR
and accounting.
Background of project:
Every business require to get change according to time in which many new advancement
are taking place in present environment. For this consent digital technology transformed the
business operations very rapidly (Achtenhagen, Melin and Naldi, 2013). Moreover, it makes the
operations of business more effective in which quality goods and services get manufacture
according to requirement and demand of customers. Along with this account department do not
require to transfer their data through Emails which increase chances of hacking. But by adopting
cloud technology data get secure and interference of outdoor people get decline. As by
digitalisation production also get improved because large data get collected through different
users. Along with this watches get manufactured according to demand of every customer which
present in different parts of the world. Social media and mobile technology aid in connecting the
work on a global scale. Around the globe make their work appropriate and adequate. Hence,
when starting a new project business have to set several aims and objectives according to
requirement of project for guiding whole business entity to work on such blueprint.
Aims: To implement digital technology for transforming business activities – A case study on
Rolex.
Objectives:
 To identify the implementation of digital technology in company
 To understand the need of business transformation activities. To assess the effectiveness of digital technology on business activities transformation.
Research questions:
 How the digital technology get implemented in business?
 Why is it compulsory to transformed the business activities?
 How the digital technology is effective on transforming the business?
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TASK 2
P2 Project management plan
A perfect project management plan is must for conducting all the activities and project in
an adequate manner (Jansen, Cusumano and Brinkkemper, 2013). As this is helpful in making
the project successful for the long term purpose. In such relation cost, quality, risk, quality and
scope of the project have to identify. This is important for making and managing a successful
business project. Rolex want to maximise their business by conducting their operations in online
sector also. For such consent they require to show consent on all these points which are
described as below: Scope of the project: The scope of the project is high in nature as the modern world is
consist of full of opportunities who aid and support business in increasing their
profitability. Thus, by applying this tool management can make their business operations
all over the world and do not limit to off line sector but now they are going to deal at
online sector as well. Risk management: Risk level is not so high as Rolex is already a well established brand
and thus management have to identify the little level of risk which is related with
business project. Thus, business have to measure the risk of their project and take
appropriate decision which are beneficial for them in minimising such risk and problems. Quality control: A major factor on which company need to work in online market is their
quality. Management already provide quality products to their clients and for such
relation, they have to maintain their products quality for long term. This factor is
beneficial for a company in maximising their sales and attain a vast number of customers. Cost: Cost of the project is high as they are going to deal at online sector but this does not
affect the operations so much. Entity have sufficient amount of fund for managing their
activities (Wuttke and et. al, 2013). Time:Project implementation should have to get a fix time period in which it have to get
execute. As this is helpful in making the outcome effective and appropriate. Business
should have to provide a time limit to all of their employees in executing the operation in
an appropriate manner. Rolex have to set a signifies time duration for making their
project successful.
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 Communication: Every project require process of communication through which
management can communicate each sort of information with their employees and
associates. This factor is helpful in defining the new project or field in which business
going to concern their work.
By complying with all these points, an organisation can successfully implement such project. As
this made a positive impact on business activities whether they are related with operation,
marketing, accounting and human resource. Also, they can recruit more and more number of
employees in their company and opening more stores all over the world. A perfect project
management plan is necessary for making the implementation of project effective. Rolex have to
apply this plan in business adequately so that they are going to sale their products online. This
lead to support them in attain vast number of users as well as their profit get maximise.
TASK 3
P3 Time line and action plan
Research is helpful in identifying the opinion and nature of different perspective. This is
helpful in making and taking a beneficial decision which provide strength for long term. Hence,
for them an action plan is required. With the help of action plan, operation get executed in right
direction with proper utilisation of resources in less time frame. A perfect study is required while
dealing with business project (Peppers and Rogers, 2016). There are mainly some steps are find
out for conducting a research:
 Identify a problem or cause for which research have to get done.
 Review the literature
 Clarify the problem
 Define term and concepts of study
 Population or respondents on which research will execute
 Formulate instrumentation plan
 Collect data
 Analyse the data
All these things will include in the research project which is based on digital transformation of
business activities. As this is helpful for them in identify the opinion of various people. Rolex
want to make their business digitalise in which they are going to expand operation through
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online marketing around the globe. This is consider as problem after this use various opinion of
authors in such relation that such aspect is helpful for long term or reflect positive impact on
business or not. Once all these things get done, select a population on which this process have to
get execute which is beneficial for getting the opinion of different people. For this, company
select 20 respondents by using random sampling method. The data get collected from them and
then a proper analysis go ahead for taking an appropriate decision.
By considering all such activities, action plan get framed with dates and time frame. This
is helpful in making the outcome appropriate and beneficial for long term purpose. Rolex using
primary source of information in which questionnaire lead to get design. 10 questions are framed
which further asked to 20 respondents (Matos and Silvestre, 2013). Such 20 people are taking as
a whole of population because it is very hard for a company to conduct research on more than
100 people at one time. The data get collected on the users of London by providing them a
question template. As this is helpful in getting the personal views and opinion of distinct persons.
Researcher have to review the dates again and again and work according to time frame
which formulate for making project successful. For any successful business project it is
necessary to formulate a date plan and time period in which such thing get done.
Making a business digitalise is not a easy task because information have to deliver to all
respondents in an adequate manner. Hence, business have to take opinion of respondents and
collect all such information and analyse it so that they can make their operations effective. Below
mentioned is a time frame and a action plan which have prepare by the researcher to conduct a
research on digital transformation by Rolex:
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This plan have to follow by Rolex so that they can work in appropriate direction and attain their
objectives and aim in an adequate manner. As this is helpful for them in expanding the business
all over the world because not every one have much time to go to store and purchase watch. As
thus, they can directly order it online and whole data can be stored at one place. By this, senior
management can take adequate decision by analysing such data. This action plan is helpful for
them in reducing the uncertainty of business and expansion become successful.
TASK 4
P4 Carry out research by using proper methodology
Research require a method which have to follow by a researcher for making the outcome
effective and appropriate (Tajeddini and Trueman, 2012). By using such research methods, a
investigation can be converted into analytical form by which decision making process become
easy and appropriate. For any research there are two main data tools are find out or can be
consider as two forms of iformation which are:
 Primary data
 Secondary data
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Both the data collection methods are helpful while concluding a valid decision for long term and
sustainability of an entity purpose. Rolex use both data collection method while identifying that
digital technology support them in further expansion or made a positive impact on business or
not. Variety of methods are taking place at the time of research which are:
1. Qualitative
2. Quantitative
3. Analytical
Researcher use qualitative and quantitative method for making the results appropriate and helpful
in long term consent. As this is a most beneficial technique in conducting and measuring the
results. For this research consent primary and secondary data is used for making the outcome
effective.
 Primary data: It is such sort of data which get collected through personal interviews,
questionnaire or any other forms in which direct interaction took place. As this is helpful
in gathering such information which have some real existence and are more beneficial.
Such type of research make the outcome appropriate and reliable in nature. Rolex design
a questionnaire which will conduct on 20 respondents. This lead to provide accurate
information and views of various bodies which are part of business (Sikdar and Payyazhi,
2014.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Is digitalisation favourable for business?
a) Yes
b) No
Q2. Does this provide benefit to Rolex for long term purpose?
a) Yes
b) No
Q3. Is digitalisation required for Rolex according to present advancement and rapid
increment in technology?
a) Acceptable
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b) Not so much applicable
Q4. Will the digitalisation made positive impact on business?
a) Yes
b) No
Q5. Is it necessary for Rolex to transform their business?
a) Agree
b) Disagree
Q6. Does the company have adequate technology to store their data?
a) Yes
b) No
Q7. What will the long term impact on business by this transformation?
a) Positive
b) Negative
c) Neutral
Q8. Is it helpful in binding the all divisions of company and reduce red tap-ism?
a) Yes
b) No
Q9. According to modern world, which method of marketing is most suitable?
a) Traditional marketing
b) Modern marketing
Q10. Any further suggestion for implementing digitalisation properly?
 Secondary data: Primary data is used for collecting the reliable information which is
helpful in taking a beneficial decision according to the opinion and views of various
people. But secondary data and source of information is totally differ from this because in
such sort books, journals, articles and news letter. Moreover, refer to case study is also a
part of secondary information (Kindström, 2010).
Case study 1: Every time Rolex required some innovation in their products and before its
production a major aim of the owner was just to make such products which are reliable and
whose name is easy to pronounce. As their mission is to provide quality service wristwatches. In
such relation this get measure that company need and changed their business according to
requirement of time.
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Case study 2: Rolex watches are usually for such person who want to show off their wealth and
as per this mostly owner of such watches are above 35. As in such relation, company start
manufacturing such watches also which are for the middle class people. Hence, mostly people
get attracted towards product by promoting their watches at social media which is termed as
major platform according to modern world (Kew and Stredwick, 2017).
It get measure through both case study that company is binding their business with social
media and start performing innovation in their watches as well. Hence, digitalisation of
transformation of business made a positive impact on business as well as its growth. Basically
their market is related with US, Hong Kong, China. By using social media they can trade all
over the world.
TASK 5
P5 Interpretation and evaluate the project outcome
Presentation of the data is helpful for concluding an appropriate outcome of the project.
As this aid an organisation to make appropriate decision which is along with the project. Rolex
have to interpret the data which gathered from 20 respondents of London. As this aid them in
making the research effective and attain a valid outcome of project.
Q1. Is digitalisation favourable for
business?
Yes 14
No 6
Theme 1: Digitalisation is appropriate for business
9
Yes No
0
2
4
6
8
10
12
14
16 14
6 Digitalisation

According with advancement in technology, digitalisation become necessary element for
business which have to perform by company (Crawford and Nahmias, 2010). According to 14
respondents opinion, it get measure that Rolex have to adopt this technique because it is
favourable for them.
Q2. Does this provide benefit to Rolex for
long term purpose?
Yes 13
No 7
Theme 2: Beneficial for long term purpose
Future world is consist of new technology and advancement. According to this
perspective if any organisation adopt digitalisation then their business will lead to sustain at
market for long term (Kumar, Petersen and Leone, 2013). Thus, Rolex have to follow this tool
for making their operation long term beneficial. As they already deal with change and
advancement by innovative and inventive things. In such relation 13 respondents provide opinion
that digitalisation serve long term benefit.
Q3. Is digitalisation really required for
Rolex according to present advancement
and rapid increment in technology?
Acceptable 9
Disagree 11
10
Yes No
0%
20%
40%
60%
80%
100%
13 7 Benefit for long term

Theme 3: Necessity of digitalisation in business
For advancement of business, it really required to get changed but from the past few
years Rolex is working as one of a most luxury brand watch (Smith, Gonin and Besharov,
2013). According to this fact, they do not required to change their business and deal with new
users. Digitalisation is not limited to selling online but opening of stores in new cities and use
cloud transferring for sharing the information is also consider as digitalisation of business.
Hence, still user think that Rolex do not require to change themselves.
Q4. Will the digitalisation made positive
impact on business?
Yes 15
No 5
Theme 4: Digitalisation made positive impact on business
11
Acceptable Disagree
0
2
4
6
8
10
12
9
11
Necessity of
digitalisation
15
5
Yes
No

A major thing which have to identify when making the business digitalise is its effect on
business (Giesen and et. al, 2010). Hence, for business consent 15 respondents thinks that
digitalisation made positive impact on business which lead to increase their revenue and sales.
Hence, this approach is beneficial for business as through this vast number of customers can
reach in such countries where they do not have single outlet.
Q5. Is it necessary for Rolex to transform
their business?
Agree 9
Disagree 11
Theme 5: Business transformation is appropriate or not
A major idea on which business have to work is its transformation. Whenever an entity
want to expand their area slight changes are required (Kowalkowski, Kindström and Brehmer,
2011). But many respondents think that Rolex do not require to transform their business as they
are dealing in luxury watches. If they are going to sale them out then prices have to low down by
management.
Q6. Does the company have adequate
technology to store their data?
Yes 17
No 3
12
0.8 1 1.2 1.4 1.6 1.8 2 2.2
0
0.5
1
1.5
2
2.5
9
11
Business
transformation

Theme 6: Use of proper technology for storing data
As they have adequate amount of money for investment which signifies that company
can spent appropriate money on digitalisation (Den Hertog and et. al, 2010). By this company
can store their maximum number of information and exchange it in mini seconds. Hence their
system will lead to convert in high security format as well as it become easy for them in storing
data.
Q7. What will the long term impact on
business by this transformation?
Positive 10
Negative 3
Neutral 7
13
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Technology for
storing data

Theme 7: Identification of long term impact
Transformation is necessary in business operation because with support of them
expansion get done and revenue maximise. Hence, according to many scholars business
environment is dynamic in nature and have to get changed according to time. By this
transformation, positive impact will laid down on Rolex through which vast range of users get
attain (Crane and Matten, 2016).
Q8. Is it helpful in binding the all divisions
of company and reduce red tap-ism?
Yes 13
No 7
Theme 8: Binding all the activities of company
14
0.5 1 1.5 2 2.5 3 3.5
0
2
4
6
8
10
12
10
3
7
Impact
Yes No
0
2
4
6
8
10
12
14 13
7
Binding all divisions

With the help of cloud downloading and transfer of files will take place and all divisions
will lead to get together working. As this is helpful for them in reducing the paer work and
increase in storing of data.
Q9. According to modern world, which
method of marketing is most suitable?
Traditional 8
Modern 12
Theme 9: Use of method of marketing
As with change in business and environment, modern and digitalise method of marketing
is opting as one of a most appropriate. Modern method of marketing is consider as one of a most
appropriate tool through which Rolex can maximise operations and made them effective in
nature.
All the above data is helpful in taking a beneficial decision which is associated with
digitalisation of business. In such relation cloud computing, selling things online are several
factors. By using cloud computing a data can transfer from one server to another in mini seconds.
Along with this, communicating the offers and prices of products through social media is another
platform for a company (Keller, Parameswaran and Jacob, 2011). As these are several number of
aspects which are related with digitalisation and transformation of business activities.
TASK 6
P6 Recommendations on findings
Rolex is already a well established watch company who do not require to adopt so much
changes in their business and operation. As this is major fact that management have to make
their operation online and expand it by using adequate method. As this is helpful for them in
15
Traditional Modern
0
2
4
6
8
10
12
14
8
12
Method of marketing

maximising operations of an entity. Management working in an adequate manner as thus they do
not require to modified their business. But several things have to implement by senior authority
in making operations effective and appropriate as well as data sharing become easy. In such
relation, cloud transferring have to used. According to that, management can easily transfer their
data from one network to another ion frequent basis. Along with this, it can easily accessible
from any place. By this, BOD can easily open up the files and take decision for every project
which authority want to implement. For such relation cloud computing technology is helpful.
Cloud computing means makes the business connective and store whole data at one place. The
chances of hacking are less in nature and project get managed properly. Moreover, several users
do not want to make business through online. As they think, Rolex will lead to low down their
prices (Eckerson, 2010). Thus, a make sure agreement have to provide by senior management to
their users that they are not going to cut their cost. Storage and distribution process also become
easy and adequate. Moreover these are several number of recommendations for a Rolex which
have to implement by them in making their operations attractive. Company have to work on
them and digitalise their business accordingly.
Several more recommendations are related with transformation of business in which user
do not want a company to modified their business. This facto is helpful for an organisation in
conducting all facts properly.
TASK 7
P7 Reflection on the research
There are several number of limitations always occur at the time of working on any
project. Hence, an individual have to make them accordingly under which they can deal with any
problems and issues which arise in their path. This is helpful for them in making report effective
as well as make a person efficient. Efficiency of an individual signifies by making operations
effective and outcome appropriate. At the time of conducting this research I also faced so much
issues in which time and cost are major thing. I have lack of time for such sort of research as
well as population which I selected was also low in range. Thus, I did not able to connect with
appropriate outcome. The budget or cost which provided for research is also low as in such
manner effective research do not get conducted. But I managed each and every thing which
present in my path. For such relation, I use internet for taking opinion of different people as this
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is a best platform where personal interaction with others become easy. Along with this I used all
the budget properly through which activities become effective and results have high
effectiveness.
CONCLUSION
According to above mentioned report which state that a research is necessary before
executing all the operations properly. For such thing a sample size have to selected in which
various respondents opinion get measure. Moreover, by using analytical tool such outcome get
analyse for taking any beneficial decision which is associated with digitalisation. There are
several limitations also occur at the time of research. Hence, by working on them adequate
decision can be gain. There are different types of themes are prepared with a motive to make
report effective and attractive and enable management to take adequate decision on frequent
basis.
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Jansen, S., Cusumano, M.A. and Brinkkemper, S. eds., 2013. Software Ecosystems: Analyzing
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