Project on Digitization of Rolex Watch Company

Added on - 06 Jun 2020

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Managing successfulBusiness Project
Table of ContentsINTRODUCTION...........................................................................................................................1Part 1................................................................................................................................................1Project Definition..................................................................................................................1Problem Statement..................................................................................................................2Project Strategy.....................................................................................................................2Project Objective....................................................................................................................3Performance, cost and time objectives...................................................................................3Deliverables............................................................................................................................4Project Scope Statement.........................................................................................................4Quality management...............................................................................................................5Risk.........................................................................................................................................5Success Criteria.....................................................................................................................5Project Assumptions...............................................................................................................5Implementation plan...............................................................................................................5Work Breakdown structure.....................................................................................................5Gantt chart..............................................................................................................................6M1...........................................................................................................................................6Project Processes....................................................................................................................6Communication Plan..............................................................................................................6Part 2................................................................................................................................................8Small scale research:..............................................................................................................8Primary Data..........................................................................................................................8Secondary Data.......................................................................................................................9M2.........................................................................................................................................11Part 3..............................................................................................................................................11Data analysis........................................................................................................................11P6Appropriate Recommendations and conclusion..............................................................15P7 Reflection........................................................................................................................15M3........................................................................................................................................16
M4.........................................................................................................................................16REFERENCES..............................................................................................................................17Appendix: 1....................................................................................................................................18
INTRODUCTIONIn order to manage the organization, there is a strong need to have advancement in thedigital technology. Advancement in the technology is only done by way of creativity. Henceforth,the business organization is able to the gain the core competencies. Nowadays, this has been seenthat each company is using digital tools which ultimately helps the firm to transform the businessactivities in an efficient manner. By way of digital technology, company can store their he datain a more protective manner and also distribute essential information to their users within a shorttime (Zhao, 2012). This project is mostly relied upon the digitization by considering referencesof Rolex watch company. Rolex is the Swiss based company which have strong brand image inthe watch industry around the globe. The marketing manager of the company is using variousinternet marketing tools for letting the people aware about their new products and inventions inthe watch. In this project, diverse points are needed to the done by making aims and objectiveswhich are connected to the project. However, for making effective aims and objectives, researchis strongly recommended for accumulating the data. By using the collected data. These areconverted into the useful information and appropriate decisions are made by the top levelmanagers of the company for making strategies.Part 1Project DefinitionProject is that which includes all the guidelines such as coordination and controllingprocess. It also includes starting and finishing date as well time, along with main purpose of offraming project for achieving goals and objectives of organisation.Main purpose of this project is, Digital transformation is approachable and feasible for allbusinesses as it simply way of improving employees’ performance which are engaged in thebusiness processes of manufacturing and achieving new, profitable business framework (Yuan,Bao and Verbeke, 2011). Digital technology into business will depend upon a clear andconvergent strategy, effective leadership by the leader and a change the mind-sets of people whoare working in the company regarding changing digital technology and adopt the new technologywhich is beneficial for the company to survive in a competitive market.1
Problem StatementRolex has its competitors like Omega, MAURICE LACROIX and many more. They arebringing new technology in market area which is attracting large number of customers. Thus,Rolex have to implement such technology in producing their products. So they can get upperposition compare to their products. Online shopping is important which can be possible with thehelp of digital technology. Apart from this it will assist in increasing sales and generatingrevenue.As per “......”, this can be rightly said that the management of the cited organizationwould requires to make certain strategy which would ultimately sustain the strategy in order tohave sustainability in an effective manner. however, this can be rightly said that the managementof the cited organization would efficiently implement digital technology which would ultimatelyassist to gain the sustainability in an effective manner. however, this can be rightly said that thedigital transformation is really needs in order to effectively promote the business operationsefficiently. However, this could be rightly said that the management of the cited organizationwould ultimately enhance the productivity by using digital transformation technique. Accordingto “...”, management of the cited organization would ultimately implement digital technologiessuch as promoting goods efficiently which would ultimately assist to gain the sustainability in anefficient manner. Digital technology would enhance and improve to engage with consumers andcrucial for the organization survival and growth. An efficient and sound consumer experiencesimply referred as the stronger consumer loyalty, high sales, and more advanced consumers viareferrals. According to “....”, under digital transformation, company would incorporate advancedbusiness models and culture along with the digital technologies. This kind of transformation iscrucial for whole organization. This promote use of an advanced and innovative business modelsand enhance experience employees, consumers’ partners and stakeholders via use of tools. Thisintroduce together staff, consumers, partners and stakeholders via use of digital technology. Thisintroduces together people data and procedures to form value for the consumers and handle acompetitive advantage. Digital transformation could enhance profitability, consumer satisfactionand enhance speed to market for any organization. Although, there are various entrepreneurs whothreatens to adopt the digital technology as they are totally concerned about the business processcosts and totally concentrates on short term revenues. But they do not know about the benefits ofthe digital transformation of the business.2
Project StrategyNowadays, this is important to make out an aim and communicate activities according tothe needs. Aims and objectives is the highly creative tools in this modern market and that is whytraditional market segment is reducing. this makes a positive impact over the business. There arefour easy steps to adopt digital technology in business:Mechanization of market: - Market mechanization technologies can help the company todo business efficiently without wasting the time and also helps to evaluate its marketingactivities and workflows. Marketing mechanization software renders a centralizeddatabase for all marketing activities data; provide space for managing, making andautomating marketing processes of company. It provides a direction to test the steps andoptimization of marketing and its impact on revenue. By shaping a clear-cut processsupported by digital technology, business could handle and improve segmentation,customer- retention and company’s return on investment.Project Management: - A project management provides a simplest mode for a team to dowork cooperatively, exchange and store important files and useful folders and keep avivid overview of all the general advancement of a project of a company. By using digitaltechnology, a centralized space for a preparing and working on a task, a company canenhance team productivity and ratio, assure project deadline are cover and decreases timespent on looking for misplaced documents or also reduces progress meetings of a project.Customer relationship management: -CRM is deal with existing and potential customersof an organization’s and manage them. The Customer relationship management systemdraws the most important company’s business data which capable the company toenhance their customer relationships with an intention to retain them (Too and Weaver,2014). Applying the CRM software, the company could raise, attract and hold customers,handle sales leads and organize communication activities in order to increases thebusiness growth of a company.The clouds:-Instead of depending upon the old local servers or computers to manage thedata of the company, the cloud permits users to store and access the data and useful files.By using the cloud, it provides many useful benefits to the business including maximumdynamically, infinite capacity, decrease costs and also provides regular back-ups on dailybasis. Using the cloud, it could minimize IT managing and supporting costs, enhance3
employees’ efficiency by sanctioning staff of the company to access the files which theyneed and in real-time and saves the costs.Henceforth, this is clear that the digitization provides advantages to the company formaking service in an efficient manner. Although, this is true that this affects the business in apositive manner.Project ObjectiveAim: “To implement digital technology for advancement of business operations”.Objectives:To determine the impact of digital technology on commercial activities of company.To understand the needs of the business transformation activities.To analyse effectiveness of use digital technology on profits of organisations.To assess the efficiency of digitization company’s operations.Research questions:What is the impact of digital technology on commercial activities of company?What is the needs of the business transformation?What is the effectiveness of use digital technology on profits of organisations?What is the efficiency of digitization company’s operations?Performance, cost and time objectivesPerformance objectives of this report is to estimate digital technology advancement ofbusiness operation. Each organization is striving hard to make better their operational process byintroducing technologies in the organization (Scherer and Palazzo, 2011). For this, a routinedigital technology transformed business operations in a most effective manner. In addition tothis, this can be said that digitization helps the firm to cope up with the consumer demands in aneffective manner. Digitization process in the company makes the operations faster than everbefore. For example, this can be said that the company’s account department does not needs totransfer their data through e-mails. Because, there is a risk of hacking the data while mailing tothe other department. But, by way of cloud computing technology, company can have theprotected where it wants and data is in protective manner and no one can harm it (Polonsky andWaller, 2014). As, by way digitization, this can be said that, manufacturing is improved byatomization in the process. In this cited case, this Rolex company produces watches as per theconsumer demands of each customer from various continents. Social media is a perfect tool4
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