Assignment Managing Successful Businesses Project

MANAGING SUCCSSFUL BUSINESS
PROJECT

TABLE OF CONTENTS

INTRODUCTION
The objective of every business unit is to achieve success. There are many elements that
can support firm in achieving there goals such as innovation supports business entity in
facilitating growth process. Digital technology is very useful specially for small medium
enterprise Digital technologies and innovation are two power resources that have great impact
and have multiple effect on the organisations. It supports business entity at each level of its
development process supports the growth of small business enterprises. Technology has great
impact on the innovation process that is facilitated by small medium enterprise.
The report have focus on the analysing the impact of digital technology on small business
enterprise It emphasizes on identifying the ways digital technology supports small medium
enterprise in its growth as well as innovation process. This can be understood in context of The
white elephant which is small enterprise , dealing in hotel sector in UK
TASK 1
P1 Aims and objectives of Business project
Small medium Enterprise such as White elephant can gain economic benefit by realising
the important benefits by adopting and facilitating digital technology. Digital technologies have
high potential to transform business operations (Brown, 2013)
Aim of research: To identify role that digital technology play in supporting small business
growth and innovation.
Objectives
To identify impact of use of mobile technology on small business firms.
To identify extent to which use of visualization software help firm to take real time business
decision.
To identify extent to which digital technology (IOT) help firms in innovating business
operations.
To recommend for business improvement.
Research questions
What is the impact of use of mobile technology on small business firms.
What is the extent to which use of visualization software help firm to take real time business
decision.
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What is the extent to which digital technology (IOT) help firms in innovating business
operations.
The purpose of digital technology is to encourage firm to conduct innovation process and
improve the quality of goods and services. It can be consider as significant resource in
organisation. It assists business unit in increasing their operation efficiency as well as capacity.
Digital technology also provide firm an opportunity to satisfy and attract customers by providing
them with innovative goods and services. It provides business entity a chance to provide quick
and quality services to its customers (Crawford and Nahmias, 2010. )
The purpose of implementing digital technology in organisation is to gain both long and short
term gain. It is required by firm to adopt advance technology as it will help business entity in
increasing its working efficiency and enhancing effectiveness. Effective technology will enable
firm to differentiate their products from that of competitor and can allow organisation to gain
competitive advantage. Revenue growth is a major benefit of digital technology that can be
gained by small medium enterprise. It allows business unit to develop platform for fostering
growth in competitive environment. Digital technology provide business unit a chance to reduce
its various expenses including cost of production (A simple explanation of the Internet of things,
2017). Hence, support firm in maintaining cash flow. It also helps organisation in reducing the
impact of competition on its business operations. This digital technology allow bushiness unit to
adopt effective marketing strategy, promote their products as well as services, generate brand
awareness and reaching a wide numbers of customer. Hence, enable The white elephant
restaurant to increase its sustainability, profitability and foster growth (Eckerson,2010.)
P2 Developing product development plan
The aim of project management plan is to suggest The white elephant restaurant an
effective strategy for future. In project management plan there are various aspects such as cost,
time, scope, quality, communication all are defined that can be used by firm while selecting the
digital technology. This Plan could also be used for identifying the need of digital technology
and analysing its impact on organisation as well as on its employees performance. It is an official
statement which contains important data which is related to future plan. This plan will help
business entity in maintaining their performance, standard and identifying the area of
improvement (Gharajedaghi,2011.)
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