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Managing Successful Business - Tesco

   

Added on  2020-10-22

20 Pages3140 Words160 Views
Managing Successful Business

Table of ContentsINTRODUCTION.......................................................................................................................................3Lo1..............................................................................................................................................................3P 1 Devising aims and objectives..........................................................................................................3P2 Project management plan..................................................................................................................4P 3 Produces a work breakdown structure and Gantt chart....................................................................6Lo 2.............................................................................................................................................................8P4 Executing small scale research by applying the qualitative as well as quantitative researchmethodologies.........................................................................................................................................8Lo3 ...........................................................................................................................................................10P5 Analysing research and data using suitable tools and techniques...................................................10P6 Communicating suitable recommendation......................................................................................17Lo 4...........................................................................................................................................................17P7 Reflecting the value ofundertaking the research to meetstated objectives and own learning..............................................................................................................................................................17and performance...................................................................................................................................17REFERENCES..........................................................................................................................................19

INTRODUCTIONThere has been a rapid growth in the technology in last few decades. Development in the technologyhas bought some opportunities as well as major challengesin an industry. It has completely transformedthe way of doing business. Digital technology is an evidence of rapid development in technology. Itprovided business entity an opportunity to adoptnew techniques of marketing and promotes its goods orservices at national as well as international level. However, at the same time increase in utilisation ofdigital technology has given rise to competition and other types of risk. Many firms have adoptedseveral strategies as well as techniques to deal with challenges created by digital technology.The purpose of this assignment is to develop an understanding about the concept ofdigitalisation. It focuses on different types of challenges created by digital technology. Other Objectiveof report is to analyse the techniques which has been adopted by Tesco for coping with challenges ofdigital transformation and disruption.Lo1P 1. Devising aims and objectivesBackground of Study:In present scenario, digital technology is transforming business and took place of humanresources. Digital technology has supported an organisation in increasing working efficiency as well asincreasing productivity. It has allowed business entity to provide additional facilities to clients. Technology earlier was used by companies for production of goods or services. However, inpresent world, technology has been utilised by an organisation or industry for variety of purposes suchas for innovation, development of products, communication with customers etc. In addition to this,ithas been used by the companies for providing the protection and security to customers. However, themajor drawback of growth in technology is that it has created challenges in transition procedures.Another challenge is that many employees in a company are resisting changes.It has become important for an organisation like Tesco to make huge as well as equal investmenton human resource and technology. Manager in Tesco enterprise has designed new processes,operation , formulated new process in order to develop themselves as per the latest business trend. Ithas been identified that by utilising the digital technology many of the firm hasbecome more customercentric. The growth in digital technology has given rise to the intense competition in industry. It hasbecome very much challenging for an enterprise to maintain its sustainability in highly competitiveenvironment.

With the advancement in technology, there has also been change in the demand as well asbuying pattern of customers. Business entity is facing the difficulty in catering to the unique needs aswell as demand of client. Organisation like Tesco has to make the additional investment to providetraining to workers in context operation the technology. New digital technology breeds new businessmodels and challenges existing products and services. Emergence of digital technology has also boughtsome other strategic challenges. The biggest challenge is change in business model which has direct aswell as significant impact on the growth of firm.Aims and Objectives Aim of the Research: To analyse the way an organisation has coped with the biggest challenges ofdigital transformation as well as disruption.Objectives of investigation:To implicate cloud technology in business practices.To improve change management processTo examine the impact of digital technology within an organisationsTo develop the implication of digital technologyTo analysis the way digital technology is shaping the future of workforce.To suggest the strategies which can be utilised by manager in Tesco for managing as well ascoping with the challenges created by digital technologyTo creates the digital strategy in order to support business entity in gaining competitiveadvantage in the market.P2 Project Management PlanIt is very important for to the scholar to consider the several factors such as cost,quality,time,resource, communication etc. When developing or formulating the research plan. As this activity willassist researcher in eliminating the obstacles which might occur in executing the investigation.Consideration of these constituents or elements will support researcher in organising as well asmanaging the different activities in systematic manner.Cost: Research activities requires sufficient amount of financial resources. As lack of funds can createhurdles in continuing the investigation procedures. Insufficient amount of investmentin researchactivity can have negative impact on outcome as well as it also has adverse influence on the quality ofwork.

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