Digitalization and Business Strategy

This assignment involves analyzing a digitalization project aimed at improving a company's market position in the global environment through social initiatives. Students must evaluate the project's success, identify strengths and weaknesses, and outline lessons learned. The report includes sections on project objectives, evaluation methods, challenges encountered, and future implications for professional development.

Managing Successful
Business Project

INTRODUCTION
There are various kind of technological development which are taking place within the
company in modern scenario due to which entire process and operations are getting better and
ease. There is a platform of opportunities on which there are ample of activities which takes
place which can help in enhancing the growth of company. Moreover, digital technology mainly
helps out in managing various kin of activities like gathering, analysing and thus storing up of
data for taking up the steps in better and effective manner (Chesbrough, 2010). There are various
kind of tools and techniques which can be utilised for mainly communicating within the
customers regarding the services. Company taken for this report is Equilibrium Asset
Management LLP which mainly deals in giving out the friendly expertise on the wealth along
with investment management, pensions and estate planning strategies. There are various factors
which will be discussed within this report is like drawing out the valid conclusion along with
recommendations. Moreover, there is project management plan which will be also discussed
within this report along with defining up of certain aims and objectives.
TASK 1
P1 Aims and objectives of the project
Within present situation, it is highly essential for company to adopt and utilise the
innovative and technologies with motive of enhancing their level of performance. There are
various kind of needs of clients which is highly essential to fulfil with help of digital technology.
There are certain kind of positive impacts which can be made on certain activities of business for
attaining the competitive advantage (Ahmed Dine Rabeh, Jimenez-Jimenez and Martínez-Costa,
2013). Equilibrium Asset Management LLP mainly has utilised the cloud technology as the
online database which is being mainly utilised for saving up of database which are being used to
clients. This helps out company to have ease access for the essential files anywhere at anytime
which can be utilised for showing to clients. This helps in giving out positive impact on the mind
set of the customers which in turn can influence them to utilise the services in future time. Social
media is the tool which can be mainly utilised by the company to draw the attention of customers
towards the services provided by company. Major motive of adopting the digitalisation within
process is to improvise the level of production along with increasing the level of customers fort
long period of time. There are various kind of benefits which are being provided by digital
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technology is the operations which are being conducted becomes much more effective and better
outcomes and thus can impact on the ratios in positive way.
Topic: To apply digitalisation with motive of transforming the business process.
Background of project:
Every kind of business mainly emphasise their focus upon the level of performance by bringing
positive changes within the activities as per the advancement within current situations. There are
certain transformation which are taking place within the companies through digital technology .
This in tun will give ample of opportunities for business expansion along with competitive place
within market (Gebauer, Edvardsson and Bjurko, 2010). There are various kind of benefits which
cloud technology will give to secure up the data along with declining up of interference up of
external factors. This will bring improvisation within the services of the company and thus
modify them as per the desires of customers. Hence it is highly essential for a business to make
the aims and objectives before starting the new project for having better kind of results.
Aims: Implementation of digital technology for bringing changes within business activities.
Objectives:
 To find out the effectual execution of digital technology in a company.
 To determine the actual wants of business for activities arrangement. To criterion the entire effectualness of digital technology on business process and its
changes.
Research questions:
 How digital technology can be applied within business process?
 Why it is highly essential for company to transform the business activities?
 What are outcomes of bringing changes within business activities?
P2 Project management plan
Project management plan is on the essential activities which can be utilised and
conducted by every kind of business working within marketplace. There are certain aims and
objectives which are being made to give out the better way of direction which will help in
executing the business activities in effectual manner. There is the project management plan
which should be made by company in order to attain the certain targets and that too in allocated
period of time (Trimi and Berbegal-Mirabent, 2012). Major benefit which can be availed is that
it making the project management plan which in turn will mainly execute the entire level of
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business activities which in turn will lead to long term benefits. Moreover, it will help in giving
out the guidance which can mainly define the scope of project like cost, resources, quality and
other risk factors. This in turn mainly will help out in making the project much more successful
and thus the company like Equilibrium Asset management LLP will accomplish the objectives
by using out the effective tools and techniques. It is highly essential for a manager to have deep
research about the all types of factors which can make impact upon the decision of final project.
Below described are the factors:
 Scope of project: In current situation, clients needs and needs are change in quick
speed and innovation improvement is likewise happen in business. It give different
chances to the organization to give quality items and administrations according to
clients request . With the assistance of this undertaking additionally grow their business
exercises in new area in which they accomplish better outcomes by conveying their
administrations in advertise (Jones and Lubinski, 2012). In this, Equilibrium Asset
management LLP grow their online business in which they give their administrations
on online stage which help in augmenting their benefit level in suitable way. The extent
of this task is wide in which organization achieve different chances to accomplish
accomplishment at commercial centre.
 Management of risk: Before executing the various kind of activities it is highly
essential for a manager to have a look upon the risk management factors. In aspect of
the mentioned company, it is the famous company which has effective services to be
given to clients. Services provided by this company will help out in attracting large
amount of customers. Along with this, company of the manager will mainly look out in
various kind of risk factors while making implementation of various activities for
having maximum outcomes in proper manner.
 Quality control: This is one of the vital factor which is being utilised to attain the
aims and objectives in allocated period of time. High quality of services will help out in
increasing the profit ratios within the marketplace along with obtaining competitive
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advantage in effective manner (Smith, 2011). It is highly essential for the manager to
maintain the quality while giving out services. In present situation,there are various
kinds of services which are being provided to the target customers which can mainly
provide the various kind of advantages to the company which can bring strong position
within marketplace. This in turn will help out in enhancing the level of performance
and thus mainly improve the level of performance along with increasing the base of
customers within the company.
 Cost: This kind of factor is highly essential while formulating plans for the
project as this will decide the prices of outcomes and services. So more effective will
be the strategies , then more will be the better prices of services. There are better results
which are being obtained along with executing the services in better and effective
manner.
 Time: It is highly essential to have this kind of factor within the project
management plan. This kind of factor mainly decides that in what tenure the
implementation will be done and it will be become successful in nature. Completing on
time gives positive feedback upon the mind set of customers. In aspect of Equilibrium
Asset Management LLP which can mainly ensure that the various kind of activities
which in turn can mainly complete the activities on time.
 Communication: It is highly essential to have better level of interaction within
management and employees. There are certain kind of objectives within appropriate
time scale (Incelli, 2013). There should be effective communication funnel which
should be present within company so that crucial data can be shared among one another
in better and effective manner.
From the above statement, it can be stated that there are various kind of elements for the project
management plan which are being utilised by the managers for making the plan much more
successful. By this way, positive image which can be observe within marketplace for the
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company and thus competitive advantage which can be gained. There is the effective project plan
which can be made to implement the activities for attaining the better success.
P3 Work breakdown structure and Gantt chart
Work Breakdown Structure:
There are certain kind of roles and responsibilities within the members allocated and thus they
have to divide it as per the activities. Along with this, there is limited power which is being given
to them for having various kind of outcomes and maintaining long term relations. There are
various kind of factors which in turn will help out in resolving various kind of issues even the
complex ones (Work Breakdown Structure. 2018). The most common one which is being utilised
is the work breakdown structure and this can be utilised by company for better outcomes.
Numerous kind of techniques are present which are being utilised by the company like
Equilibrium Assets Management LLP. There are various kind of companies which are small in
scale like above mentioned company where this kind of factor can be observed less but after
attaining growth, structure can be changed and this factor can be implemented.
Illustration 1: Work Breakdown Structure
(Source: Work Breakdown Structure, 2018)
GANTT CHART
This can expressed as one of efficacious methodology which is in effect basically used for
finishing the work. Henry Gantt who is the organizer of this idea and he has expressed that the
time period will be done alongside assets for culmination of undertakings (Gantt Chart. 2018).
There is the device of time administration which is being used by Equilibrium Assets
Management LLP for influencing an opportunity to outline who are working upon specific
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undertakings. Also, when this device will be used in powerful way, it will for the most part
decrease the odds of mistake and undesirable variables from different sort of elements. Gantt
Graph assumes vital part in assessing and checking the exercises which are being used by
organization in giving out better results.
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There are certain kind of activities and plans which are followed by the Equilibrium Asset
Management LPP which in turn can mainly execute the certain kind of activities which can also
give better results in most effective manner (Kankaanranta and Planken, 2010). By the help of
this, area of operations which will be increased by the help of adopting the latest technology
which in turn can mainly is much more convenient for every kind of person to avail the services
in better and effective manner. By applying both kind of factors, it is easy for the top
management to take the effective decisions which in turn can mainly lead to have minimising the
chances of uncertainty within the company which in turn can lead to expand the area of
operations.
TASK 2
P4 Small scale research by applying qualitative and quantitative research methods
For a researcher, it is highly essential for him to have better methods which can help in
conducting the research. There are various kind of methods which can be utilised by the manager
to mainly execute the entire level of activities which in turn can mainly attain the positive
outcomes in effective and better manner . This in turn will mainly help the researcher to convert
the data collected into effective and efficient manner which van help in analysing for better ways
for attaining objectives (Introducing Research Methods. 2017.). From this point of view, There
are two kind of methods which are mainly utilised by the research with motive of collecting the
relevant data and they are primary and secondary methods.
Both of the methods are being utilised by the researcher for collecting the data for the
research topic. This in turn will help in concluding the appropriate recommendations. In aspect to
the Equilibrium Asset company, they mainly use the primary data for gathering up of data for
making the better decisions for business expansion. There are various other methods which are
being defined by the researcher while research execution which is being described below:
 Qualitative
 Quantitative
Moreover, there is the normal researcher which can mainly utilise both kind of qualitative
and quantitative methods with the motive of attaining the positive results within entire process of
research. All the essential methods can be utilised for the research in order to draw the better
results conducted through the methods of primary and secondary methods.
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Primary data: This is the most common and appropriate method which is being utilised
by the manager of above mentioned company for research conduction (Lin and Chen, 2012).
This is the method which mainly gathers new and raw data for defining the better research
conclusion. It is highly essential for designing the effective and better questionnaire by the
company which in turn can help out in gathering up of collecting the data in effectual way.
QUESTIONNAIRE
Name:
Age:
Contact no.:
Email address:
Q1) Are there any kind of benefits by digital technology to company?
 Yes
 No
Q2) Is there any kind of long term impacts for Equilibrium Asset Management LLP?
 Yes
 No
Q3) Are there any kind of impacts upon the process of business by digitalisation?
 Yes
 No
Q4) Does digital technology has importance upon the business operations?
 Yes
 No
Q5) Is the company has abilities and potential to draw the attention of customers?
 Yes
 No
Q6) What kind of impact digitalisation has made upon Equilibrium assets company ?
 Positive Impact
 Negative Impact
Q7) What way digitalisation will impact upon the future process of company ?
 Positively
 Negative
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 Can't say
Q8) Does digitalisation will reduce the Red-Tapism ?
 Yes
 No
Q9) Which type of marketing methods should be used by organization to execute as well
as undertake their promotional activities?
 Traditional marketing method
 Modern marketing method
Q10) Any recommendation for Equilibrium Assets Management LLP regarding
digitalisation implementation?
Secondary data: This can mainly be stated as an effective method which is being utilised for
collecting the data for research along with other information by books, articles, Journals,
Magazines and many more. This kind of method mainly helps out the manager to gather around
the data regarding the research topic and thus mainly evaluate the better level of decisions (Lai
and Ong, 2010).
As per the case study, there are various kind of efforts which are being made which are mainly
being made for adding up the values along with some kind of features within the product line
along with making some kind of new services for having large number customers. Main focus of
the company is on having large amount of market share for its rivals by having high quality
services to its customers.
Along with this, there are various kind of new and innovative methods which can be
applied within the product line and that can be done by undertaking the promotional activities on
the social platform. Moreover, there is the concept of digital technology which mainly defines
the positive impact upon the company which in turn can help out in making contribution fo entire
success for the company on marketplace.
TASK 3
P5 Research and data using appropriate tools and techniques
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This can be stated as one of the effective way by research is being conducted for
collecting the appropriate way which in turn can help out in making the process of decision
making company. In aspect of Equilibrium Asset Management LLP, data can be withdrawn in
valid conclusion within systematic way.
Q1) Are there any kind of benefits by digital
technology to company?
Frequency
Yes 17
No 3
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation:
From the above report, it can be stated that the there are various kind of benefits which can be
availed by digital technology for the company. There are about 17 of the respondents who thinks
that there are positive impacts while 03 of them does not have negative aspects on it.
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Q2) Is there any kind of long term impacts
for Equilibrium Asset Management LLP?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation:
Digitalisation mainly helps out in creating short and long term impacts upon the company but it
depends upon company how they mainly carries it out. From the above report, there are 14 of
them who believes that there are positive kind of impacts for the company while 06 of them are
not in favour.
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Q3) Are there any kind of impacts upon the
process of business by digitalisation?
Frequency
Yes 15
No 5
Yes No
0
2
4
6
8
10
12
14
16 15
5
Interpretation:
There are various kind of impact upon the business process which are positive and negative
manner. There are 15 of the people who thinks that it creates positive impact while 05 of them
does not agree on these.
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Q4) Does digital technology has importance
upon the business operations?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation:
Digital technology mainly helps out in company which can ease up the process and
conduction of operations along with business process. There are about 14 of the people who
thinks the same way whereas there are about 06 of them who does not agree.
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Q5) Is the company has abilities and
potential to draw the attention of
customers?
Frequency
Yes 17
No 3
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation:
Company is at the stage where there are moving towards the growth and earning reputation. By
adopting digital technology, Company has gain the potential to attract the customers. There are
17 of them who thinks the same way while 03 of them who are in oppose to it.
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Q6) What kind of impact digitalisation has
made upon Equilibrium assets company ?
Frequency
Better 14
Not much 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation:
From the above graph, there are various kind of impacts upon the company and there are about
14 of the respondents who says that it creates positive impact and there are about 06 who thinks
that there is not much impact.
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Q7) What way digitalisation will impact
upon the future process of company ?
Frequency
Positive 14
Negative 3
Can't say 3
Positive Negative Can't say
0
2
4
6
8
10
12
14
16
14
3 3
Column C
Interpretation:
From the above graph, it can be stated that there are positive impact upon the future process of
company by 14 of the people while 03 of them says that there will be no impact and rest are
neutral in this situation.
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Q8) Does digitalisation will reduce the Red-
Tapism?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation:
From the above graph, there are about 14 of them who has stated that digital technology will
reduce the Red Tapism while 06 of them does not agree on the same.
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Theme 9: Marketing methods should be used by company for their promotional activities.
Q9) Which type of marketing methods
should be used by organization to execute as
well as undertake their promotional
activities?
Frequency
Traditional method of marketing 3
Modern method of marketing 17
Traditional Modern
0
2
4
6
8
10
12
14
16
18
3
17
Column B
Interpretation:
From the above graph, 70% respondents mainly agrees with statement that modern methods of
marketing used by company is appropriate for increasing customers base.
P6 Recommendations
There is the positive image of the company named as Equilibrium Assets Management
LLP which does not need high level of change within the process and operations. There are
various kind of tools and techniques which are being utilised for expanding the level of business.
Main focus of the digital technology is to ease up the process and and thus attain the competitive
advantage for its rivals by giving out high quality services within allocated period of time. There
are various kind of resources which I think will help the company to attain the aims and
objectives within time period. There are better results which can be obtained by using new kind
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of methods for making effective communication within all kind of functions for bringing
improvisation within the level of performance. Moreover applying cloud technology can help
company to have ease access to its database with more security.
P7 Reflection on the research
Research is being conducted for certain kind of topic which mainly defines the number of
issues which are being mainly faced at time of undertaking the research. There is the action plan
which is being made with motive of reducing the issues for long period of time. There are many
kind of issues which I have faced while conducting this research with time and cost factor. I did
not get the proper time to undertake the activities of research and thus due to that I have selected
20 respondents for drawing the valid conclusion. Budget which is being made is not appropriate
due to which I faced many kind of issues for gathering up the data for the research. Due to these
kind of issues I have tried to manage all kind of activities and thus have taken out the positive
outcomes. By the help of social media platform I have taken help up of collecting and utilising
the crucial data for getting the better kind of results. There are certain kind of resources of which
I have taken help in order to gain the positive results in proper way.
CONCLUSION
From the above mentioned report, it can be reasoned that innovation advancement is
more basic for each organization since it give different open doors top the business association to
get higher accomplishment at commercial centre. Alongside this exploration is additionally
essential for business so as to gather all the significant data towards the point. With the
assistance of this director effectively take fitting choice and enhance their execution level. By
this organization effortlessly extend their business exercises and achieve upper hand in
commercial centre.
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Template for evidence collection to
be attached with the report by the
learner:
Project Logbook for the chosen
organisation: Equilibrium
Asset Management LLP
Name of the learner: Name of the Supervisor:
Project Title: Managing successful
business
Date:
Update of weekly research/ tasks
achieved (Account for a minimum
of six weeks with dates)
What have you completed?
Did you fulfil Task requirements?
Are you on track and within
deadlines set?
Did you need to make any changes
to your project management
plan?
Comments
Effects on computerized
innovation on tasks of business
and its administration for getting
the normal outcomes
Yes
Positive, as every one of the
segments are being satisfied
according to prerequisites.
Negative, no progressions are
being required in venture
administration design because of
no alterations in enactment which
have occurred.
Any risks and / or issues
identified?
 Did you identify risks/issues
with a lack of skills required
for undertaking research
tasks?
 Did you identify any
additional risks/issues that
have an impact on the
Indeed, issues were being
looked during the time spent
social occasion the
information as there were
numerous assets which were
not able give precise
information.
With the undertaking
spending plan, there are
issues moreover and hazards
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project management plan? too.
Problems encountered
 What barriers did you face? How did you overcome them?
There are some major barriers
like ethical environment and
trusting part.
For its resolution, I have focused
on users for providing me the
accurate data in an ethical
manner.
New Ideas and change of project
direction
Digital technology always provide
benefits to the company for better
outcomes. It is not compulsory for
requirement of change in
directions.
What Have I learnt about myself
this week?
How did I feel when I had to deal
with tasks/problems?
Did I find it useful to complete the
tasks?
How well have I performed? What
did I contribute?
What can I improve on next week?
How might this learning apply in
the future?
From my point of view, those
challenges made me learn and
experience new things for getting
success.
Positive
with the help of managers and
other senior authority, I was able
to formulate this project.
Moreover, they all gave me
proper guidelines so that along
with this project I can improve my
performance skills.
I need to improve my skills
specially communication skills.
It will be aidful in giving out
beneficial directions to the
management for making out
better future decisions.
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Tasks planned for next week
Which tasks are priority?
Have you set aside sufficient time
for completion?
There are certain things on
priority like collecting data,
reviewing the literature and
setting up the aims and
objectives.
Yes, sufficient time frame has
been set up for all the activities
and extra time has been kept
aside for finishing all the tasks
and activities in effectual manner.
Project plan status to date (on,
ahead, behind)
Up to date
Supervisor comments to address
Signature of the Supervisor and
date:
Template for Performance Review
Template to be attached with the
report by the learner:
1. What was the Project supposed to accomplish?
The fundamental focal point of the venture was satisfying all the
digitalisation exercises so high upper hand can be procured alongside
clients.
2. Did the project succeed in its aims/ how do you know?
Specifically, please outline any evaluation and assessment
undertaken.
The primary goal of the undertaking was to improve the picture and
generosity of the firm in commercial center in worldwide condition and it
is finished with the assistance of social exercises for getting the best state
of targets in regards to business process.
3. What things do you think worked well and why? Evaluate
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all aspects of the project (e.g initial inception, project activities
and project outcomes) from a range of perspectives.
I was presented to every one of the assignments and exercises of the
firm while the conduction of venture administration. In addition, it
empowers to lessen the movement's time period.
4. What problems emerged during the project and how were
they tackled? Was there timely identification of issues and
resolution during the project process?
Truly, I confronted numerous snags and issues while gathering the
information and appropriate figures from different sources.
5. What did you learn from undertaking the project?
From this undertaking, I came to realize that each association needs
to satisfy the digitalisation for drawing in extensive number of clients.
6. How would you rate your performance as a management
consultant leading the project?
I might want to rate myself 8 out of 10.
7. What strengths and weakness of your performance did you
identify?
My significant quality is the way I speak with others while poor
investigative abilities diminishes the power of my work.
8. How will this inform and support your continuous
professional development?
It is central for corporate relationship to control free stream of
correspondence at working environment as they can secure with each
other.
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