Managing Successful Business of Rolex : Report
Added on 2020-06-05
26 Pages4153 Words39 Views
ManagingSuccessful Business
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Project aims and objectives...............................................................................................1P2 Project management plan with scope, cost,, quality, communication, time, resources andrisk..........................................................................................................................................2P3 Work breakdown structure and Gantt chart......................................................................3TASK 2............................................................................................................................................5P4 Application of research methods for carry out research...................................................5TASK 3............................................................................................................................................8P5 Use of adequate tools for research....................................................................................8P6 Recommendations to draw meaningful conclusions.......................................................17TASK 4..........................................................................................................................................18P7..........................................................................................................................................18CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................24
INTRODUCTIONIntroduction of various technologies at a fast speed has completed the business activitiescompletely. This provide number of benefits to enterprises and contribute a lot in development ofbusiness (Eckerson, 2010). One of the main feature of digital technology that this provide anopportunity to store huge amount of data and information for long period which was not possiblein early times. Technology offer variety of platforms to organisations through which they cancollect huge amount of information related with tastes and preferences of customers. All thissupport top managers while take decision about expansion of commercial operations. Further,one of the major feature of digital technology is that it support firm in do effective promotion ofits products and generate more number of profits. Rolex a popular and well established brandwhich produce and offer different type of watches to its customers is consider in present report.Organisation wants to enlarge its business activities online and for execute the same in effectiveway various type of research methods such as qualitative and quantitative is applied under thisstudy. Further, project management plan with its objectives and aims is also given in this. TASK 1P1 Project aims and objectivesIn present business environment, needs and requirements of consumers are change at avery fast speed and it is really essential for every enterprise to satisfy the same in order togenerate large amount of profits. For achieve the same, it is important for every organisation touse updated technology in order to serve to its customers. Technology development has changesthe traditional process of business completely (Crane and Matten, 2016). One of the mainfeature of introduction of various technologies is that it provide various advantages to businessenterprise for example, today technology provide an opportunity to managers to collect hugeamount of dataregarding the needs and wants of consumers which help enterprise in bettersatisfy their needs and wants. Cloud technology help enterprises to store and share large amountof information from one place to another in just few minutes. Technology offer variety ofcommunication channels to enterprise in order to communicate with its target customers andmake them aware about the features of its product (Smith, Binn and Tushman, 2010). All thisincrease effectiveness of business activities and contribute towards growth of company. But useof updated and new technology require huge amount of financial resources to be invested inresources. Another feature of technology is that it provide number of platforms such as1
Facebook, twitter and YouTube and today every single person use these platforms and thissupportfirm to reach huge consumers. Further, technology bring coordination and cooperationbetween various business operations (Den Hertog, Van der Aa and De Jong, 2010). This ensureintegration of business operations & help top management to find any kind of deviation andremove the same. Moreover, technology ensure fast execution of production process and helpenterprise in maintain the quality of its goods. Overall, it can be concluded that technology affectthe business operations in a positive way.Aims: Implementation of technology to transform business operationsObjectives:To examine the implementation of digital technology on business activities. To analyse the need of transformation of business.To determine the effectiveness of digital technology on business activities. Research Questions:How effective digital technology is to transform business activities?Why is important to transform operations of business? How implementation of digital technology will take place?P2 Project management plan with scope, cost,, quality, communication, time, resources and riskIn order to achieving the decided goals and aims, it is essential for Rolex firm todevelopment an impressive plan related to the management of project. It will be facilitative inprovide the right direction at the time of implementing of various kinds of operations or tasks inan effective way. Without it, firm can not accomplish its set target as well as objectives properly(Chesbrough, 2010). The plan of project management is helpful in assuring about finishing theeffective activities and tasks at one time. It will helps in giving the long team advantage to abusiness firm. In addition to this, manager guide or manage the cost, resources, quality andalso risk. Generally, the requirement of project management plan is to form the business projectuseful and also successful. Under this the Rolex business entity wants to increase its commercialonline with use of new and advanced technology. In order to this, it is essential for firm toinclude the presented factors:Scope of project- From the technological progress, the needs and wants of customers fastincreasing. In this current time period, here are many development opportunities in this business2
environment. It will give the more opportunities to an organisation by providing the variouskinds of products to consumers.Management of risk- Each business is concerned with the project in in this many risk isincluded so it is necessary for the cited company to include all the necessary factors (AhmedDine Rabeh, Jimenez-Jimenez and Martínez-Costa, 2013). Before implementation of projectoperations it is necessary for manager to calculate the risk from this its impact will be reduced. Incontext to Rolex, it is a big brand and in its project the chances of risk is less. Quality control-The quality is an important part of full project. It is necessary for themanager to maintain the quality of project through including effective factors. Rolex firm offersthe better and satisfactory quality of goods or watches to its consumers and it is important foremployer to maintain this in context to increasing the growth and profitability of an organisation.Cost- The cost of big projects will be high and there will be need of more money orfunds. In context to this it is necessary for manager to arrange money by using the different toolsand techniques (Gebauer, Edvardsson and Bjurko, 2010). In order to implement projecteffectively it is necessary for company to have efficient or required funding.Time- In completing the project there will be more time consumed. So it is necessary formanager to include all those activities which are necessary in completing the project. If projectwill be completed in time then from this cost will be reduced and firm can achieve the moreoutputs.Communication- IN order to accomplishing the organisation al goals, it is important thatin an organisation there should be better and transparent communication between all functions ordepartments (Trimi and Berbegal-Mirabent, 2012). It will be helpful in executing the projects. Ifcommunication will be clear then all employees can communicate with each other then in thiscase project will be completed in given period of time. P3 Work breakdown structure and Gantt chartMajor benefit of carry out research is that it it support enterprise in collect largesum ofinformationthat support top management in undertake decision making process related withexpansion of business activities. In order to ensure implement all research activities in aneffective way it is very significant for investigator to first develop a action plan as this giveroute3
to researcher and at the same time ensure completion of all activities in given time. Main stepsinclude in a investigation are as follows:Identification of main reason behind the study.Literature reviewClarify the issuesSpecify the major concept of projectSelect the sample sizeDevelop a action planExamine the informationAll type of investigation consists all these steps, present research based on digitaltransformation also consist the same. For collect information, firm has to first select a samplesize from whole population (Jones and Lubinski, 2012). To carry out research firm will select asample size of 20 and will use random sampling method as this decrease biasness from theresearch. By consider all these steps and by execute all these in an effective way Rolex canexpand its activities in an effective way. Digitalisation is not an easy concept so that's why it isvery important for manager to formulate an effective action plan. Action plan prepare byresearcher and time set for every operation is given in following points:4
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