Project on Managing Successful Business - Rolex company

Added on - 22 Jul 2020

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Managing successfulbusiness
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Project objectives and aims...............................................................................................1P2 Project management plan covering aspects of scope, cost, quality time, communication andrisk.........................................................................................................................................3P3 Gantt chart and breakdown structure and to provide stages and time frames..................4TASK 2............................................................................................................................................7P4 Carry out research with different research methods..........................................................7TASK 3............................................................................................................................................9P5 Research analysis and data with appropriate techniques and tools...................................9P6 Recommendations in context with investigation to draw valid conclusion....................16TASK 4..........................................................................................................................................16P7 Reflection on the value of undertaking research to meet objectives...............................16CONCLUSION..............................................................................................................................16........................................................................................................................................................18
INTRODUCTIONInpresentmodern era wherevarioustechnologyimprovementare taking place at a fastspeed, has change the business activities. Basically various development of technology providesupport to business in their growth activities(Eckerson, 2010). If one will compare thecommercial activities of today' enterprise from earlier operations of business than that individualcan analyse number of variations. Digital technology provide an opportunity to enterprises tocollect, analyse and store huge amount of data which further help top manager to take decisionregarding business. Further, today enterprises use number of tools and techniques tocommunicate with target customers. Rolex a established watch brand,whichwants toenlargeitsbusiness operations online is considered under this report for analysis. Different type of researchmethods are applied in this report to draw valid conclusions and recommendations. Along withthis, project management plan with its specific aims and objectives and analysis of collected datawith effective use of various tools and techniques is all mentioned in this.TASK 1P1 Project objectives and aimsDue to changing needs andrequirements of consumersat a fast become it become veryessential for enterprises to adopt new technology to offer them featured products and services.Development of technology at a fast speed results in declining traditional market segment oncontinuous basis. One of the major impact of technology on business activities is that it providesupport and guide top management in take right business actions and decisions. Facility of cloudtechnology provide an opportunity to business managers to share huge amount of data from oneplace to another with minimum amount of time. Further, technology provide number ofcommunication platforms to enterprises to easily communicate with its target markets andinfluence more number of customers. All this directly contribute in increase both productivityand profits of company(Crane and Matten, 2016). Use of new and updated technology demandfinancial resources to invest indifferent tools andresourcesso company can execute businessoperations in an effective way. Today large number of people use various platforms of socialmedia to communicate with each other and this help business enterprise to reach more number ofcustomers. Effective use of technology bring coordination and communication among variousdepartments of company. This help manger to integrate all important activities of business andalso provide grounds to find deviation if any exist in business activities.Majorfeature of1
technology is that it provide anchanceto business to enhance quality of itsgoodsand bettersatisfy the needs and wants of its customers. Basically technology affect operations of businessin a positive way and this can be analyse by increase profits and quality of company's products.Topic: How digital technology transformed business operations of an enterprise.Background of project:Due to number of technology advancement is taking place in business environment itbecome more necessary for enterprise to adopt new technology and introduce change in businessoperations accordingly. Concept of digital technology has changes a business activities a lot ifcompare to business operations executed at earlier times. But this change affect the businessoperation in a positive way as this help manager enterprises in maintain and enhance the qualityof its products and services andfulfil the requirements of its consumers(Smith, Binns andTushman, 2010). This decrease the complexity of business operations. Different technology usedby companies decrease the demand of account department and this reduce the risk of hacking ofrelevant data. Facility of cloud technology ensure transfer of data form one place to another withsecurity which increase the safety of data. Further, this help enterprise to collect relevant datafrom so many sources which guide manager during process of production. This ensureproduction of product as per the specific requirement of customers. Various technology devicessuch as mobile phones and various platforms of social media help enterprise to reach morenumber of customers and increase its market share. But before start final execution of project andactivities included in that it is very essential for managers to set some particular aims andobjectives. This support management activities and help in fulfil the special requirement ofproject.Aims: Implementation of digital technology to transform business activities.Objectives:To determine the effectiveness of digital technology on business operations.To analyse implementation of digital technology on activities of business.To examine the need of business transformation.Research questions:How digital technology is effective in transform business operations?Why is is necessary to transform business activities?How implementation of digital technology will take place on business operations?2
P2 Project management plan covering aspects of scope, cost, quality time, communication andriskProject Management Plan-It is an approved document which explains about implementation ofproject, monitored and also controlled. It contains detailed documents and also consist subsidiarymanagement plans, base lined and also some of the other planning document.For achieve set objective and goal it is very essential for enterprises todevelopa projectmanagement plan as thissupportand provide direction during execution of various activities.Without this, company can notaccomplishits set objectives and targets. One of the main featureof this plan is that it ensure effective completion of various activities and at the same timeprovide long term benefit to enterprise(Den Hertog, Van der Aa and De Jong, 2010). In additionto this, it guide manager in in identify scope, cost, quality, resources and risk involved in wholeproject. Basically a project management plan is a requirement to make the project a successfulone. Rolex wants to expand its business online with effective use of various platforms and tools.Before taking any decision regard the final project it is very essential for manager toascertainfollowing factors:Scope of project: Due to number of technology development and due to change in needsand wants of customs at a fast speed. Today' business environment is full of growthopportunities. This provide an opportunity to enterprise to create and offer differentproducts to number of customers and also expand business activities in new areas. In caseof Rolex firm can also expand its activities. As now enterprise is not limited to dooperation offline but now company can offer its products online too. Overall the scope ofthis project is very wide.Riskmanagement:Every project related with business involve some kid of risk so it isveryimportantthat this must be consider and calculate by manager before start executionof project activities. As in case of Rolex the firm is already a popular brand so the riskinvolve in this project is very low. Further manager candetermine and analyzevariousfactors of riskin order toattainpositive results and maximum output.Quality control:Quality is one of the essential element of whole project and to achieveto objectives and goals of project it is very essential for manager and whole enterprise tomaintain this factor during execution of various activities(Chesbrough, 2010). Atpresent Rolex offer quality products to its customer and it is veryimportantfor managers3
tokeepthe same in order to get number of advantages and to achieve growth ofcompany. This will directly increase number of profits of company and its customers.Cost: Cost of this project is very high as firm will require number of amount to be investin various equipments and tools. So for effective execution of project its is very essentialfor firm to have adequate amount of funds.Time: To achieve effective completion of project, it is very essential that allactionsinvolvedin project must be completed in time(Ahmed Dine Rabeh, Jimenez-Jimenezand Martínez-Costa, 2013). Timely implementation and completion of variousoperationsdecrease project costand help enterprise toattain desired outputs.This canbe achieve by managers of Rolex by set a specific time period for all activities.Communication: For achieve set objectives of project, it is very essential that there mustbe effective communication among various departments include in whole project. Allroles and responsibilities of individuals include in project must be clear.All these are the main elements which must be consider by manager to formulate aeffective project management plan in order to achieve effective implementation of variousactivities. This help in increase positive image of company and at the same time provide numberof advantages to company. Managers of Rolex can make a project plan in order to execute allactivities of project in an effective way.P3 Gantt chart and breakdown structure and to provide stages and time framesGantt chart-It is graphical depiction of project schedule. It is a kind of bar chart whichshoes about begin and completion dates of many components of project which involvemilestones, resources and also dependencies.Research play a big role in whole project as this help manager in collect different ideasand opinions of other about topic. All this support manager in make an effective decision. One ofthe main feature of action plan is that it provide direction and ensure maximum utilisation ofvarious resources(Gebauer, Edvardsson and Bjurko, 2010). It is very essential for manager toconduct a deep study toeffectively examineunderstand about variousfactorsof project and dealwith all issues. Main steps include in carry out a research includes the following:Identify the main reason and cause to conduct the research.Literature reviewClarification of problems4
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