TITLE - “Theimpactofdigitaltechnologysupportingsmallbusinessgrowthand innovation”. A Case study on “ Continental Consulting Limited”. INTRODUCTION In this digitalised world, every corporate association is tend towards applying new and innovativetoolsand techniques whichgivestheirbusinessahighergrowth and market sustainability. Digital technology has altered the market area so that companies are forced to tailor their growth strategies thus to reach large group of customers. It also helps management by improving quality of their products and execute flexibility in production system. Every small and large entities want to be competitive and gain high profit margins in a certain period; for the same they can use social media channels which is one of the great innovation of digitalisation (Bengtsson and Johansson, 2014). The present research is based on Continental Consulting Limited that is a research and business consultancy of UK; the firm mainly deals in business process re-engineering. Apart from this, the report is going to describe about aim and objectives of projectmanagement plan.In ordertoaccomplishingprojectactivitiesontime, work breakdownstructurewillbeused.Furthermore,qualitativeandquantitativeresearch methodologies will also defined later. TASK 1 P1. In this modern era, digitalisation has changed the entire processes of doing business; there has innovated different mobile technologies and social media sites that supports SMEs to reach large number of customers. Due to dynamic customers needs, scarcity of resources and competitive pressures, companies want to apply new and innovative methods of production which gives them flexibility and efficiency in completion of working activities. Through digitalisation, small businesses are enable to reduce operational costs, raise efficiency and minimise production defects; this will not only improve quality standards but also strengthen firm's market position as competent with suppliers at marketplace. However, all these aspects are key factor to expand business at various locations and capture customers eye towards the firm and its offerings (Berends and et. al., 2014). 3
In this manner, usage of social media networks can be really beneficial for SMEs; it is a key element of getting high market growth and success by improving brand awareness among customers. Adoption of this technology is cost effective and raise visibility of business through which company will easily connect broad range of audiences. In addition to this, Social networks influence purchase decisions as much as advertising in newspapers and magazines. Due to increasing market visibility firms will be able to get better future opportunities for conversion as blog posts, image, video may lead to increase traffic on company website. Social media channels allows Continental Consulting Limited to put positive impact upon human being as they can easily attract to purchase its products and services. In a business entity, various departments worked together thus digital technology supports them to connect or communicate with each; it leads execution of an imperative business strategy at workplace. Background of the research The present assignment is based upon Continental Consulting Limited which deals in business and consultancy research and owned by Mario Bindas. The managers works with a team of 22 people who are expertise in research; they provide suggestion on re-engineering of business processes in UK. In order to operate its functions in effective manner, the firm uses latest and upgraded technologies. Along with this, the report describes that social media channels are using by companies at fast pace for creating awareness among customers. Social media sites, i.e.Facebook,YouTube,twitteretc.helpsContinentalConsultingLimitedtogetknow customers needs and then produce accordingly. It helps businesses to achieve its goals and objectives in a certain time period. Research Aim- “To ascertain the impact of social media channels in building strong relationship with target and potential customers”. A case study on Continental Consulting Limited. Research objectives –Some of the main research objectives are stated as under - To study the importance of digital technology for a small business entity. To determine the role of social media sites for Continental Consulting Limited.To identify the impact of social media networks on managing strong public relations. Research questions What is the significance of digital tools and technologies for SMEs. What is role of social media sites for Continental Consulting Limited? 4
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How social media networks affect company's relationship with customers? P2. Acquisition of digital technology helps to maintain strong or healthy public relations and help company to boost up quality standard of its offerings. The project of digitalisation is undertaken by management of Continental Consulting Limited thus to ensure future market growth and viability. While doing this project, it is required for management to considered numerous factors and focus on obtaining maximum utilisation of available resources. A project management plan is developed by a project manager in order to ensure that all activities and tasks are done in systematic manner; it also describes what is needed to management for making project successful (Pinto, 2015). Following is defined several factors which are involved in project management plan - Scope – Digital technologyis a most important application of information technology which has a wide scope in business services. These kind of technologies assist to create organisation in attracting customers, promotion of goods and services in market area and so on.The scope of digital technology is vast because through this employees of a firm caneasilygrabcustomersfrommarketandincreasesalesoftheContinental manufacturing limited. The firm can use this technology for attractive promotional activities as well as providing information related to new goods. Cost –This is a most important aspects of project management plan that helps in determiningrequiredcostfortheadoptionofDigitaltechnologyinContinental Consulting Limited. Therefore, firm needs to manage further cost of their services which aid to collect maximum funds for future practices(Bruhn, Schoenmueller and Schäfer, 2012). On the basis of these strategies, Continental Consulting Limited can adopt required technologies in their firm on the basis of future requirement and need . The considerable cost for Digital technology has been estimated as£20Kwhich aid to manage resources for new technology in firm. Cost budget for this approach is determined below as - 5
Time – Digitaltechnology is a time saving approach that assist to reduce complexity from lengthy work load. In the terms of adoption and implementation of undertaken digital technology, it can consume maximum time due to inappropriate knowledge and resources availability. Hence, it is required that firm make proper plans for such information technologies in order to clarify its each concept in a limited time period. The project manager will complete the project with approximately 8 months.With the assistance of information technology several advantages can be gained one of them is achieving strategies and objectives on time.Moreover duration will be14thJuly 2018 to 22ndNov. 2018. Communication –Continental consulting limited is an IT sector firm which provides them re-engineering services to the clients ,their the firm needs to identify users for their services that provides need and requirement to service. It provides important role that need to identify demand for customer services .Communication help to solve resolve in firm's internal issues that can not required customer management approach. A project manager need to establish a good communication that need to implement project in an effective way , so the team can share their views and perceptions regarding digital technology. They can communicate through email to resolve problems and issues while developing the technology. Risk –Digital technology is an application of information technology which can require high security for network outsourcing which is not an easy concept because inappropriate data can occur that can create complexity in data storage and security servicing. So 6
therefore firm need to check legal licensing practice that can assist to find more information and data from a major risk. The major concept of approach is to provide authorisedaccesstothosefirmswhohaveregisteredforlegalliability(Bruhn, Schoenmueller and Schäfer, 2012). Quality –In a business organisation, digitalization play a most important role in order to providing quality products and services to customer's on the basis of their requirement . The concept of Digital technology assist to providing appropriate services to small and medium enterprises by providing digital security and rightful utilisation of their data and informations. Through this, employees of these organisations can access their important information at several locations at a particular time. The most important thing of Digital technology is its maintenance and security. The project managers needs to ensure that service providermaintain quality of the service and security algorithm to protect the information. These activities assist to ensure quality servicing to attain maximum benefits and higher competitive advantages. Resources -Continental consulting limited provide various resources which is used to assess digital technology in an effective manner in business procedure . Funds, developer technology assessors ,proper infrastructure are a major source to utilize various resources of firm. On the above criteria firm need to implement digital technology in Continental consulting limited.In present context, some of resources that are being used by the researcher are both primary and secondary that have helped in collecting relevant data for the topic. Here, some of primary methods are: questionnaire, survey, interview and so on. In present investigation, investigator have used questionnaire to draw information which is both authentic and relevant in nature to the set objective. On the other hand, investigator have also used secondary resources as well for conducting the investigation at crucial times. Here in, investigator have used magazines, journals and so on which have helped in raising gaining appropriate knowledge. P3. In the process of project management plan, it is essential for manager acquire certain tools and techniqueswhichhelps in obtaining project aims and objectives in a given time frame. These tools are Work breakdown structure and Gantt chart. Both of them are required to set 7
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appropriate time duration for each and every activity involved in project management and must be completed in desirable way. Work breakdown structure –In a project management plan, work break down structure is one of the most imperative technique that helps managers to accomplish all tasks and activities in a provided time framework. Every project is characterised into various time limited activities with a fixed cost and time schedule. It is responsibility of project managers to effectively plan this schedule and assign roles or responsibilities to employees as per the skills and capabilities (Cegielski and et. al., 2012). Along with this, WBS supports to make constant planning and render necessary direction to completion of this project. Its prime motive is to diminish complex activities. Project manager of Continental Consulting Limited is to assign specific costs and then distribute project budget into various segments thus to make sure that project will not exceed from budget. Gantt chart –A Gantt chart is developed in order to list all things which are required to be accomplished a project in an effective manner. It helps managers to ensure the time schedule is enough to do all activities, right people are aligned with right tasks and determine problems work around. In other words, it can be said that a Gantt chart is essential to effectively monitoring and coordinating all activities as per their time duration thus set objectives of project can attain. Therefore,toachieveaneffectiveresearch,projectcoordinatorsofContinental Consultancy Limited needs to follow these actions, such as - Identification of problem Literature review Determine several issues State and discuss the concept of study A sample of participants who's opinions support to gain better information. Development plan Collection of data Review and evaluation 8
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TASK 2 P4. In order to get brief description upon a specific topic or area of concern.It is essential for researchers to acquire different data collection methodologies. This helps investigator to arrive relevant data and information thus to make necessary modifications in upcoming projects of the company. Below is defined various research methodologies, such as - Qualitative research– The method of research is often utilised to make study of social and behavioural aspects. Qualitative research says that human interactions usually complex in nature so it is essential to get qualitative and value added information from customers. In other words, its an ability of getting deepenbroad detailed data towards social phenomena (Chang, Walters and Wills, 2013). Quantitative research– On the other side, quantitative research is all about providing data in numeric forms. In order to obtain that kind of information, researcher can apply statistical tests in order to make statements. Data and information which is gathered from quantitative research is valid and reliable to a large number of population. 10
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For completion of this project, there has been utilised qualitative research method which aids project manager of Continental consulting Limited to obtain effective data and information. In addition to this, there is acquired questionnaire method that is source of primary data.For conducting respective research 50 respondents are taken as sample size and they are local population of United Kingdom. QUESTIONNAIRE Name Age Email Q1. Are you aware about the concept of digitalisation? A. Yes B. No Q2. What will be the main benefitobtain by Continental Consulting Limited while applying digit tools and techniques in its working processes? A. It improves quality standards B. Increase production flexibility and efficiency C. Strengthen Market Position of the company Q3. Which one is best digital technique for marketing and promotional of products and services? A. Search engine optimisation B. Social media channels C. Pay per click advertising Q4. Since how many years, Continental Consulting Limited is using social media networks? A. Less than six years B. Less than a year C. More than a year ago Q5. Which is the most appropriate social media site that help SMEs to reach wide range of target audiences? A. Facebook B. Twitter C. Instagram 11
D. YouTube Q6.What is the major challenge faced by business at the time of implementing digital technologies? A. Hindrance towards change B. Lack of strategy for a digital customer drive C. Change is expensive Q7. What is the significance of Social media sites for Small businesses? A. Increase brand awareness B. Better customer satisfaction C. Improve brand loyalty Q8. Give ratings to products and services of continental consultancy Limited? A. Excellent B. Good C. Average Q9) Provide recommendations by which Continental Consultancy Group can maximize its profit margins and sales revenues? TASK 3 P5. Theme 1: Most of the people are aware with digitalisation. Q1.Areyouawareabouttheconceptof digitalisation? A. Yes40 B. No10 12
Interpretation – According to this graphical presentation, it is assumed that a large group of people is is aware with digitalisation and its processes. With the viewpoint of 40 respondents, digitalisation and its tools helps a business by improving its profitability and sales revenues, boost up production speed as well as leveraging satisfaction level of customers. Beside this, remaining 10 are still not aware with the digitalisation and its role within businesses. They gives preference to traditional methods of production. Theme 2:Digital technology Strengthen market position ofContinental Consulting Limited Q2.Whatarethebenefitswillobtainby ContinentalConsultingLimitedwhile applyingdigittoolsandtechniqueswithin working processes? A. It improves quality standards10 B.Increaseproductionflexibilityand efficiency 15 C.StrengthenMarketPositionofthe company 25 13
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Interpretation – The above diagram signifies that a firm can obtain an ample amount of benefits by applying digital tools and technologies in its business processes. As per the survey, 25 respondents say that digitalisation gives strengthen and improve current market position of the company; it makes people to know more about the firm. Whereas 10 states that digital technology improves quality of products and services which helps in increasing customer satisfaction level of the firm and remaining 15 supports that digital strategy will increase production flexibility and efficiency. Theme 3: Social media networking is best digital technology. Q3. Which one is best digital technique for marketing and promotional of products and services? A. Search engine optimisation12 B. Social media channels30 C. Pay per click advertising8 14
Interpretation – Numerous digital tool and techniques are presented in market which helps a company to gain high competitive edge at market place. According to this marketing survey, it is analysed that 30 participants are saying that social media is one of the best tool of digital technologywhereas12saysthatContinentalConsultingneedstoacquiresearchengine optimisation thus to promote its products and services in target markets. And remaining 8 says, pay per click advertising is best for this purpose. Theme 4: Continental Consulting Limited is using social media more than a year ago. Q4.Sincehowmanyyears,Continental ConsultingLimitedisusingsocialmedia networks? A. Less than six years5 B. Less than a year35 C. More than a year ago10 15
Interpretation – As per the above diagram it get identified that the firm is using social media channels for developing and increasing its brand image. With the opinion of 35 participants, it is determined thatContinental Consulting Limited is using social media sites since less than a year ago and various changes has been seen after implementation of this. Beside this. 10 state that firm is utilising social media networks since more than a year ago and remaining 5 refers that it has acquiring such channels from less than six months. Theme 5: Facebook is imperative social media site Q5.Whichisthemostappropriatesocial mediasitethathelpSMEstoreachwide range of target audiences? A. Facebook25 B. Twitter8 C. Instagram12 D. YouTube5 16
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Interpretation – The above mentioned graphical presentation represents that a large number of social media sites avaialble at market that aids SMEs to arrive vast amount of target audiences. After this survey, 25 participants says that Facebook is one of the effective social media site that must adopted by firm as nowadays most of the public use Facebook in comparison with other networks. Apart from this, 12 says that firm should acquire Instagram, 8 are in favour of twitter and 5 gives preference to YouTube. Theme 6:Lack of strategy for a digital customer drive is major challenge Q6.What is the major challenge faced by business at the time of implementing digital technologies? A. Hindrance towards change17 B. Lack of strategy for a digital customer drive 25 C. Change is expensive8 17
Interpretation – As per the market research, it is examined thatLack of strategy for a digital customer drive is a major challenges that is being faced by SMEs while applying digital technologies. Whereas 17 says that Hindrance towards change is a biggest challenges and 5 says that digitization is quite expensive. Theme 7: Social media sites increases customer satisfaction level. Q7. What is the significance of Social media sites for Small businesses? A. Increase brand awareness12 B. Better customer satisfaction28 C. Improve brand loyalty10 18
Interpretation – According to this diagram it get overviewed that social media channels improve customer satisfaction level of the company; with the opinion of 28 respondents whereas 10 says that it improves brand loyalty of the company. Theme 8: Q8. Give ratings to products and services of continental consultancy Limited? A. Excellent38 B. Good7 C. Average5 19
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Interpretation – The above diagram signifies that 38 respondents think that quality of Continental consulting limited products and services are excellent whereas 7 people rates them goods. And remaining 5 thinks that the firm provides average services to its customers. With the help of above mentioned information, I have analysed that if Continental Consulting takes in use of social media in its business in an effective way. This could easily help them in building relationship with consumers for a longer period of time frame. Away with this, it has also been found by me that most of respondents were in favour of the company to adopt social media as their marketing tool because it can easily raise belief of consumers among their services with the help of direct contact. P6. Continental consulting Limited is a small size enterprise and now planning to apply digital technology in its working activities and processes. In this manner, it is suggested to management that firstly it should conduct an appropriate research in order to recognise in-trend and effective digital tools which will help company to build strong relation with target audiences. They should also analyse market competition and potential opportunities; then develop own strategies and policies accordingly. After doing proper investigation, project manager have to provide training and development to their employees with an aim to improvise their current skills and abilities; it leads to improve technical competencies of staff members and all project activities will be done in an effective manner. 20
In order to generate traffic on their social media sites, i.e. Facebook, Instagram, Twitter etc., it is essential for managers to determine needs and wants of customers and also design attractive advertisement and promotional campaigns so to gain high competitive edge over UK market. There must be also analysed other digitalisation tools which can be beneficial for the firm, such as – search engine optimisation, pay per click advertising, emails and text messages; it also supports customers to get know more and more about the company and its offerings. ImprovedCommunication:-Digitaltechnologieshelpinimprovingthe communication process of the small business through texting, emails, websites and apps. Information technologies improve the inner office communication and also help in receiving more customer feedback. The companies able to reach more customers through mobile device in a real time formate. Increased Productivity:-Information technology increase the productivity of the employeesinthesmallbusiness,becauseitallowthemtoaccessmore information through computer programs and business software. Due to digital media the amount of human labour in business is reduce, also it have the impact on the employees performance. Broaden Customer Bases:-Information technology helps small and local business to reach new economical markets, other than just selling customer good or services they can move to regional, national and international market. The most common way to sell the products, reach new market and attract new customers in several economic market for small business is Retail Websites. TASK 4 P7 This research project has been conducted by me in order to determine the impact of social media channels on business growth and reaching target audiences in a certain time period. While doing this research, I realised that social media sites, i.e. Facebook, twitter, Instagram etc. aids small business to promote themselves among broad range of customers. I considered various books, articles and journals thus to get brief study of this aim. It will support me to reach better outcomes and draw and effective conclusion. In addition to this, I also faced various problems, 21
i.e. lack of time and cost, validity of information, improper communication with participants etc. by which I am not to obtain desired results. However, my supervisors and professors were really supportive and always by my side; they helped me out to get over with these hurdles. In order to accomplish all project activities and tasks on time I have formulated a time schedule and started work on; through which I was able to accomplish all project activities on or before their time period. At first it was difficult to me to motivate myself to do work but after that I started enjoying the research and writing work and found it more manageable what I think. I divide the whole work into five parts in which first one is planning. This part was the difficult one because it was not matched what I wanted to write and the actual existing information on the relevant topic. Writing the outline was my favourite part because it is like building a map or a puzzle- for this I collect quotes and information from numbers of publications and by reading ten-page outline. For the succession of the page this outline was important and valuable. When I look back then I realize that experience helped me very much as both a student as well as a young non-profit professional.Research and writing skills are valuable for both academic setting and non-profit sectors. Grant writing is an area in which I am interested in but now I feel confident on my writing skills and abilities. CONCLUSION From the above discussion it has been summarised thatdigitalisation plays important role in growth of business as well as successas it helps management to improve efficiency of their product and services. The report is based upon the impact of social media channels on reaching large group of customers. In order to attain this aim, management has developed a plan by considering several factors like – cost, time, quality, resources, communication etc. Apart from this, a work breakdown structure will be also prepared so as to accomplish all tasks and activities on or before their given time period. Primary and secondary sources of data collection has been used for obtaining relevant data and information in specific area of concern. 22
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Template for evidence collection to be attached with the report by the learner: ProjectLogbookfortheselected company: Continental Consulting limited. Name of the learner:Name of the Supervisor: Project Title:“The impact of digital technology supporting small business growth and innovation”. ACasestudyon“ContinentalConsulting Limited”. Date: Update of weekly research/ tasks achieved (Account for a minimum of six weeks with dates) What have you completed? Did you fulfil Tasknecessitate? Areyouontrackandwithin deadlines set? Did you need to make any changes to your project management plan? Comments Thepresentassignmenthasbeenmadeto measure the impact of social media channels to build health relation with target and potential customers.AcasestudyonContinental Consulting limited. Yes, I had. Yes,allprojectactivitiesandtaskswere accomplished on their given time frame. No, I have conducted a market research then prepare my plan so there is no requirement to make any changes, Any risks and / or issues identified? Did youidentify risks/issues witha lackofskillsrequiredfor undertaking research tasks? Yes, issue of lack of communication and interpersonal skills occur while undertaking tasks. Yes, time and cost were also occurs in project 24
Didyouidentifyanyadditional risks/issues that have an impact on the project management plan? management plan. Problems encountered What barriers did you face? How did you overcome them? In order to accomplishing this research, I realised that due to lack of coordination between people all tasks aren't perform in effective manner. To overcome with this problem, I have prepared apropertimescheduleandaligntasks accordingly to all employees. New Ideas and change of project directionIn order to improve technical skills and digital knowledge, there has been provided training and development assistance to staff members. WhatHaveIlearntaboutmyselfthis week? HowdidIfeelwhenIhadtodeal with tasks/problems? Did I find it useful to complete the tasks? HowwellhaveIperformed?What did I contribute? In order to deal with problems my supervisors and senior managers helped me out and deliver best suggestions. Yes, expert advise were really beneficial for me. All my project work has been done in proper manner. Ineedtoimprovemycommunicationand, interpersonalskillsthustodealwithfuture research projects. 25
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What can I improve on next week? How might this learning apply in the future? Information which was collected by me from various sources will help future researchers to take outline for their projects. Tasks planned for next week Which tasks are priority? Haveyousetasidesufficienttime for completion? Identifying aims and objectives Data collection and data interpretation were on priority. Yes. Projectplanstatustodate(on,ahead, behind)Up to date Supervisor comments to address Signature of the Supervisor and date: Template for Performance Review to be attached with the report by the learner: 26
1.What was the Project supposed to accomplish? To determine the importance of social media channels on building strong customer relations at marketplace in Continental Consulting limited. 2.Did the project succeed in its aims/ how do you know? Specifically, please outline any evaluation and assessment undertaken. Yes, the main aim of this project is to identify how digitalisation affect business activities and its growth in effective manner. 3.What things do you think worked well and why? Evaluate all aspects of the project (e.g initial inception, project activities and project outcomes) from a range of perspectives. I think I have done my project in more effective and imperative manner and it will also help people to make future research on same area of concern. 4.What problems emerged during the project and how were they tackled? Was theretimelyidentificationofissuesandresolutionduringtheproject process? Lack of time and costs were the most important issues, but with the assistance of my supervisors I was easily cope with that problems. 5.What did you learn from undertaking the project? Irealisedthatproperunderstandingandcoordinationisrequiredfor accomplishment of any project/ 6.How would you rate your performance as a management consultant leading the project? I want to give 8 out of 10. 7.What strengths and weakness of your performance did you identify? Having strong decision making power and analytical skills are my major strength whereaslackofcommunicationandinterpersonalskillsaremymajor weakness. 8.Howwillthisinformandsupportyourcontinuousprofessional development? By conducting this research, Ihave gained lotsofinformation and gain high experience as well which aids me generating advantages as in future, I can accomplish projects in set period of time easily. 27