Managing Successful Business Doc
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Added on 2020-07-22
Managing Successful Business Doc
Added on 2020-07-22
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MANAGING ASUCCESSFUL BUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Aim and objectives............................................................................................................1P2 Project management plan..................................................................................................2P3 Work breakdown structure and Gantt chart......................................................................4TASK 2............................................................................................................................................5P4 Research by using appropriate methods............................................................................5TASK 3............................................................................................................................................9P5 Analysing data by using tools and techniques..................................................................9P6 Recommendations...........................................................................................................14TASK 4 ........................................................................................................................................14P7 Reflection .......................................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16Appendix........................................................................................................................................18
INTRODUCTIONTechnology has changed the working style of many business organisation. Nowadays,companies understand that if they will use latests technology in their organisation then it willhelp them in attaining their goals in an effective way. Digital technology is used for transferringthe data from one place to other in less time and without losing any significant information(Baiden and Price, 2011). Technically, binary code are involve in this process, they can convertan information into words of images. The Queensberry Hotel is running their business inhospitality sector, they are present in London,UK. This assignment will discuss about aims andobjectives of the project, they are related to modifying the current technology which mentionedenterprise is using. Work breakdown structure and Gantt chart will also become part of this file.Quantitative and Qualitative methods of research will be included in this file. Various tools ofconducting research will get cover under this report. A project management plan will beexplained, it will focus on aspects like cost, risk, time etc. Some recommendations will be givenin the end along with the reflection. TASK 1P1 Aim and objectivesSome organisation may think that adopting latest technology like digitalisation is anoption for them but in reality they have to make necessary modifications in their businessbecause the enterprise, who have adopted new technology, have competitive advantages on theirrivals. For a small organisation like The Queensberry Hotel, spending money on digitalisationcould be bit difficult because they have limited resource if they will invest their money in rightareas like, buying equipment which can be used for reducing the overall cost of the business,then this will help them in long run (Bakker and et. al., 2011). Digitalisation is the process ofconversion of information in digital format. This help in better representation and analysation ofthe content. If manager of cited hotel will have use this technology then it will assist them inrecoding more data and fast travelling of information. It will expand their business becausecurrently, they are not using technology like cloud computing. If they will adopt these kind oftechnologies then they can easily store more data about their clients and other vital informationwhich is present in the industry. Topic: Affect of digital technology on growth of business and innovation1
Background of projectCompanies in this business world understand that there are basically two ways ofmaximising profit, one is to reduce the cost of business and other is increase the sales. Digitaltechnology helps a corporation in accomplishing both of these activities in single time.Technology like Cloud computing reduces the cost of storing data, while online booking andadvertisement increases the market of the company (Basu, 2014). The concept of digitalisationwas suggested by a German mathematician in seventeenth century. Binary code was the nextdevelopment which happened in this field. Before 1980, telecommunication was popular fortransmission but after this, the era of fiber optics started. Direct broadcast satellite was one of theaddition in digital technology. The Queensberry Hotel is 3 star hotel and they are known for theirquality services at low price. Their restaurant is also very famous and they offer variety of food.This organisation is using some old technology but they need a rapid transformation but adoptingnew digital technology like Cloud computing. Aim – To identify the impact of digital technology on the business growth.ObjectivesTo analyse the affect of digitalisation on the organisationTo examine the modifications needed in the company To find the role of digital technology in transmission of information.Research questionsHow digitalisation will make an impact organisation.What changes are required in company.How digital technology will assist in flow of information. P2 Project management planPlans are made for arranging various activities, which has to done in the accomplishing atask, in a proper steps. Planning reduces the fear of uncertainty and minimises the wastage ofresources. A plan will also cover various components like cost, risk, resources etc. Following istheir explanation:Scope of project – This project will identify all the needs relating to up-gradation oftechnology in The Queensberry Hotel. It will find to analyse the changes which can be done bymanager of the enterprise so they can reduce their cost of business and transmit and record data2
in effective manner (Chang, Walters and Wills, 2013). Areas like designing of hotel, jobsatisfaction to the employees will not become part of this research. Risk management – Digitalisation is a difficult process because present employees do nothave training about how to use technology like Cloud computing. They cannot work on latestsoft-wares. If manager of cited hotel will force their workers to learn something new then theymay deny it or leave the job. This kind of risk can be managed by providing training to theworkers and giving them extra monetary benefits. This risk is integral part in modification of anybusiness. Some risks are associated with research also, at the time of conducting primaryresearch participant may provide wrong information (Doherty, Ashurst and Peppard, 2012). Ifwrong information will be recorded and analysed then the research will get useless. Magnitudeof risk is high in this case because they some participants may not involve in the process ofresearch. By checking background of participants, this risk can be minimised. Quality control – Doing high quality of research involve formation and analysation ofvarious graphs and charts. Graphs, histogram, pie charts etc. will be made for assuring goodquality of work. At the time of digitalisation, managers of the company has to assure that theybuy latest equipment and install modern software. Monitoring of researchers work should bedone on continuous basis so the mistakes which they are committing can be rectified at the pointof its generation (Eskerod and Huemann, 2013). Cost – The expenses of conducting the researcher will cost around 250 pounds. This isnot a big sum for cited Hotel and they easily afford it. Besides this, the cost of bringing changesin the company i.e. relating to digitalisation will be around 2000 pounds. Purchasing of new soft-wares is bit expenses and cited enterprises also have to pay money to the trainer who willprovide training to the employees. Time – Setting a time limit for every work is importance, it bring positive pressure on thepeople who are going to work on an specific task. The time taken for completing the researchwill be 45 days, if everything go according to the plan, and the spend of making introducingdigitalisation in the company would be 6 months. If things are done in right time then theycustomer will get better service and cited firm will earn more revenue (Gustafson, 2012). Communication – The researcher has to communicate with various people for at the timeof conducting researcher. Manager of the hotel also have to make a clear conversation to theemployees about digitalisation in the organisation (Jeston and Nelis, 2014). 3
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