Managing Successful Business Project - Cost Cutter
Added on -2020-07-23
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Managing SuccessfulBusiness Project
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Framing Aims and Objectives................................................................................................1P2 Establishing Project Management Plan..................................................................................3P3 Work breakdown structure and Gantt Chart...........................................................................6TASK 2............................................................................................................................................8P4 Research by using methodology.............................................................................................8TASK 3..........................................................................................................................................12P5 Evaluation of Project Outcomes...........................................................................................12P6 Recommendations................................................................................................................18TASK 4..........................................................................................................................................19P7 Self Reflection......................................................................................................................19CONCLUSION..............................................................................................................................19
INTRODUCTIONThese days it is very difficult for business organisations to function within market and attaina higher level of growth. There are different variables which have impact upon company abilityto operate within a small market environment. for making sure that they are able to attain desiredmarket they need a well-structured strategy to overcome issues that are hurting their ability toperform and manage resources1. Technology is one of the variable that has changed as howwhole business operations use to run. It has been a force that has made production as well asdelivery of products and services far easier and efficient. Today each company has to integrate itfor their survival. For present report, Cost cutter has been taken as a company on which wholeresearch work will be conducted. It is a small retailer that offers its services via discount andconvenience stores. For this organisation, digital revolution has changed the way they use to dealin items and share information within and outside company. At present, they are focusing ondeveloping a mobile application as well as an interface that will assist them in interacting withthe consumers. Also, this will assist them in improving sharing of information.TASK 1P1 Framing Aims and ObjectivesRetailing sector is known for its growth and prosperity that has allowed differentorganisations in attaining higher growth rate. This is a sector that has served consumers in allaspects. For all the companies it is very important to ensure that each aspect is being analysedand represented2. They are today, more focused on consumer satisfaction and growth instead ofany other factor. Organisations are aware that if consumers are happy, then they will be able tomake the most of market potential. They are also focusing on the concept of dual growth so thatthey can assist society while growing themselves in market place. For this they are developing1Schaltegger, Stefan, and Marcus Wagner, eds.Managing the business case forsustainability: The integration of social, environmental and economic performance.Routledge, 2017.2Halibozek, Edward, and Gerald L. Kovacich.The manager's handbook for corporatesecurity: establishing and managing a successful assets protection program.Butterworth-Heinemann, 2017.1
positive environment within organisation so that individuals are satisfied and perform everyactivity in a desired manner. Cost Cutter is a well-known convenience and discount store operator which iscomparatively very small in size and scope. The company sells various brands at a lower price aswell as it has its own labels. The managers within organisation are responsible for its profitabilityand productivity. They are one of the parties who make sure that each task is completed in amost efficient manner3. Currently, they are engaged in preparing firm for integration of digitaltechnology in its process and core systems. This will allow organisation in attaining a higherlevel of growth rate and minimise risk levels. At present, digitalisation has aided firms in developing their capabilities and attain marketcontrol. For current scenario, usage of cloud technology, mobile application will be stated aswell as ways in which these technologies will assist organisation in enhancing its interaction withpeople and information sharing within company4. Keeping these things in mind, a research titlewith its objectives and questions will be stated below:Research Title:“The impact of digital technology on enhancing small business innovation, growthand prosperity. A case study based on Cost Cutters”.Objectives of Project:This is done to make sure that all goals are achieved and objectives are set in a mannerthat will provide business house with solutions. Also, managers will be able to measure variousissues and rectify any variance easily. Objectives are stated below:To analyse the role of digitalisation in enhancing operations and objectives oforganisation. To identify ways in which cloud and mobile application can boost market capabilities ofcompany.3Abad, Vicky. "Case Study: Managing Business Growth from the Bottom Up."TheEconomics of Therapy: Caring for Clients, Colleagues, Commissioners and Cash-Flowin the Creative Arts Therapies(2017): 180.4Peppers, Don, and Martha Rogers. "Evolution of Relationships with Customers andStrategic Customer Experiences."Managing Customer Relationships: A StrategicFramework(2017): 3-42.2
To evaluate the requirement of digital technology in boosting Cost cutter internal as wellas external abilities. Recommending ways that will be used for ensuring that all digital technology can be usedby company. Research Question:How do companies can boost their operations and objective achievement by using digitaltechnologies?What tools can be used for identification of ways that will boost market capabilities oforganisation?How requirement of digital technology can be evaluated for improving Cost cutterinternal and external abilities?Determining ways that can be used by cost cutter for using digital technology in boostingorganisational effectiveness?P2 Establishing Project Management PlanA project management plan is stated to be the one that describes as how things will becompleted in a set period of time. this is an opportunity for a researcher to express his path thatwill be used for attaining right results for the research work5. It is important for each and everyorganisation to make effective and right project management plan, so that all the goals andobjectives are achieved in a right way. In current case scenario, Cost cutter is introducing digitaltechnology in its core process as to boost its own capabilities. There is need of a projectmanagement plan which will allow organisation in understanding as what factors needs to beanalysed for proper application of requirements.It will cover, cost, quality, scope, time period, etc. The objective of business organisation isto ensure that it is able to identify and overcome all threats while achieving targets in a set timeperiod. This will assist organisation in ensuring that it is able to deliver better services to people5Kasuma, Jati, Siti Syakirah Said, Yusman Yacob, Shamshul Anaz Kassim, IskandarMohd Sarkawi, and Irwan Shahrinaz. "Managing Risk, Networking and ManagingFinance and the Successful of Sarawak Bumiputera Entrepreneur."Advanced ScienceLetters23, no. 8 (2017): 7557-7561.3
and gain their commitment towards organisation6. digital technology will ensure that company isable to face all types of issues and target population that will be using its product and services. aproject management plan will ensure that all activities are analysed and a proper costing is doneso that application of changes are realistic and good for organisation. All the components of PMPare stated below:Scope: This is an element where it will be stated as why this research work is beingundertaken by employees. All the aspects will be covered in the statement as how andwhy things will be undertaken and what benefits will be there. The scope of project aidsorganisation and its managers in understanding as how whole research work was doneand what cost and resources were consumed. It also allowed them in ensuring that eachtask is completed in a set time period. For current case, company need to introduce digitaltechnology in its operations so that it can gain competitive edge in market. Also, this willenable organisation in achieving higher level of market share easily. That is why, it isstated that the scope of this research work is huge and it needs to be completed in a settime period so that strategic advantage can be gained. Risk management: Management and assessment of risk beforehand is very vital. Thereare different types of risk which are there in front of organisation and needs to beanalysed and evaluated for overcoming them. the managers in Cost cutters need to keepon analysing all the aspects so that they can identify issues and reduce level of varianceswhich will ensure that all risk are diverted7. Risk management plan will state aboutfactors that act as a potential risk, probability of occurrences and all proposed actions.They also need to ensure that they are able to effectively prepare counter strategies for6Fattore, Giovanni, Donato Iacovone, and Ileana Steccolini. "‘Managing successfulchange in the public sector’: a view from the consultants’ world."Public ManagementReview(2017): 1-20.7Durach, Christian F., Christian F. Durach, Patrick C. Glasen, Patrick C. Glasen, FrankStraube, and Frank Straube. "Disruption causes and disruption management in supplychains with Chinese suppliers: Managing cultural differences."International Journal ofPhysical Distribution & Logistics Management47, no. 9 (2017): 843-863.4
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