Managing Successful Business Assignment - Victorinox
Added on 2020-07-22
24 Pages5810 Words28 Views
Managing successfulbusiness project
Table of ContentsINTRODUCTION...........................................................................................................................1P1. Objectives and aim of project...........................................................................................1P2. Project management plan with important aspects............................................................2P3 Work breakdown structure and Gantt chart......................................................................4TASK 2............................................................................................................................................5P4 Conduct research with application of quantitative and qualitative research methods......5TASK 3............................................................................................................................................7P5 carry out research and collect data with help of right methods and techniques................7P6 Recommendations to draw valid conclusion...................................................................16TASK 4..........................................................................................................................................17P7 Reflection on value of undertaking research for meet set objectives..............................17CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18APPENDIX....................................................................................................................................19
INTRODUCTIONIntroduction of new technology in business environment has totally changed the businessoperations of organisations. Timely and effective use of these technologies help enterprises togain competitive advantage and at the same time, ensure timely completion of all commercialactivities. Use of effective technology helps the business entity to expand its operations in newareas and provide an opportunity to firm to serve more number of customers (Turban and et. al.,2017). One of the main features of this is that it helps firm in storing huge amount for long timewhich supports manager in decision making process and provides various other benefits. Further,this enhances the effectiveness of promotional activities of firm and increase the number of itsprofits. Victorinox, the biggest manufacturer of pocket knives is the world firm based inSwitzerland is taken under present report for study. Company also deals in watches, apparel andtravel gear. Enterprise wants to expand its business operations online for which variousqualitative and quantitative research methods are applied in this study. Objectives and aims of aproject with a project management plan covering various important aspects is all given under thisreport. P1. Objectives and aim of projectIn today's business environment, needs and wants of customers are changing at a fastspeed. For achieving success and growth, it is important for organisation to fulfil the specialrequirements of its customers as these are profit generators of firm and these are the one whichensure long term survival of company. To achieve this, use updated technology in businessoperations is very essential (Ross, 2016). Digital technologies has completely changed the oldbusiness activities. This not only enhances effectiveness of business decisions but at the sametime, saves a lot of time and cost of companies. This helps the firm in collecting a plenty ofinformation related with attitudes, needs of customers and what is going in businessenvironment. All this help firm in taking better decision which support in getting the customersatisfaction. In addition to this, this provides an opportunity to business to serve more customers.Cloud technology helps enterprises in storing a huge amount of data at one place and alsofacilitates to share the same from one place to another with just few seconds. One of the mainfeatures of concept of digital technology is that it provides number of communication channels tofirm which enhance effectiveness of promotional activities and attract a large number of1
individuals towards company's offerings. With the help of these channels, Victorinox can conveythe value and benefits of its products to its customers. Use of new and effective technologyrequires a large amount of fund and so, it is necessary that firm should have required amount offunds so that it can offer better products to its customers (Peppard and Ward, 2016). Variousplatforms such as Facebook, Twitter and YouTube can be accessed by firm with the help oftechnology. Today, number of individuals use these platforms to communicate with each other.so with this, Victorinox can attract a number of customers towards its offerings. Further,technology enhances the effectiveness of production process by removing unnecessary obstacles.It makes the enterprise able to maintain quality of its products which results in customersatisfaction. Overall concept of technology affects the business operations and enterprise in apositive manner.Aims: Impact of digital technology on small businesses supporting growth and innovation.ObjectivesTo determine the impact of digital technology on execution of business operations.To ascertain the requirement of business transformation. To examine the effectiveness of using digital technology on activities of enterprise. Research questions:What is the impact of digital technology on execution of business operations?What is the requirement of business transformation?What is the effectiveness of using digital technology?P2. Project management plan with important aspectsTo expand its business operations of firm and gain maximum benefits of technology, it isnecessary for Victorinox to formulate a project plan including its final goals and results. One ofthe main benefits of project management plan is that it guides manager in examining thatwhether all activities are in right path or not. Along with this, helps in utilise all businessresources. Formulation of effective project management plan is important for achieving set goalsin minimum time period (Nelson and Staggers, 2016). Lack of planning increases delay incompleting the business activities and at the same time, in increasing cost of enterprise. All thisprovides various long term benefits to the firm. Further, this helps the manager in managingresources, cost, time, resource, time, scope, communication and quality of activities. This alsocontributes in the growth and development of business. As Victorinox wants to expand its2
business activities online or with the help of advanced technology so, a project management planis necessary to achieve this in an effective manner. Considers following elements are verynecessary for firm:Scope of project: Today, needs and requirements of customers are changed at a fastspeed. All this increases development opportunities for companies. This helps the firm incarrying out production of new products for better satisfying needs of its customers. Witheffective use of technology, Victorinox can carry out its production process in anappropriate manner. Risk management: Risk is an element which involve in every project related withbusiness. Different types of risks are included in a project. For achieving better resultsand set objectives, it is very important for the firm to identify and examine every type ofrisk (Nambisan and et. al., 2017). With this, negative impact on execution of businessoperations can be minimised. In context to Victorinox, risk factor is high as this firm isnot much popular in the category of watches. So to expand business activities relatedwith its watches firm requires to identify and examine risk in appropriate manner. Quality control: This is known as one of the core elements of project management plan.It comes under the responsibility of manager to ensure effective execution of all activitiesrelated with project to maintain the quality of final products. Victorinox already offersquality watches to its customers and so, it is very important for firm to maintain the samefor gain maximum benefits from its expansion. With this, firm can generate high amountof profits. Cost: Large business projects require huge amount of funds to carry all operations in aneffective way. It is essential that Victorinox should have required amount of funds toexpand its operations. Time: It is essential that all activities of project should be completed on time. Timelycompletion not only helps the firm in attaining its set objectives but at the same time,saves a huge amount of cost. Right methods and techniques must be used by the managerto ensure timely completion of business projects. Communication: This is the only element which help manager in make all theemployees aware about their roles and responsibilities (Nambisan and et. al., 2017). Thishelps the firm in getting maximum benefits of project. It is necessary that proper and3
effective channel of communication should be used by Victorinox at workplace forachieving effective implementation of activities of project. Further, this reduces theconfusion among workers. P3 Work breakdown structure and Gantt chartCarry out research in an effective way help firm in collect huge amount of relevant datarelated with attitude, requirements, preferences and behaviour of customers. All this helpmanager in take right decision related with business operations. For this, it is very important forresearcher to formulate a action plan (Zou, Kiviniemi and Jones, 2017). This guide investigator,ensure completion of all research activities and at the same time save time and cost of company.Major steps included in a research are as follows:Identify research objectivesLiterature reviewIdentify the main issues of researchDefine scope of projectSlection of sample sizeFormulate a research planAnalysis of dataEvery research include all these steps. This research is based on transformation of businessoperations with help of digital technology. For collect information, it is essential for firm to firstselect a sample from whole population (Yeoh and Popovič, 2016). For this research, 20 is thesample size which is selected by researcher with help of random sampling technique. Witheffective implementation of all these steps, Victorinox can get maximum benefits of itsexpansion. Concept of digitalisation is not an easy one as this require huge amount of funds. 4
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