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MANAGING SUCCESSFUL BUSINESS INTRODUCTION 1 TASK 11 P1 Project Management Plan

   

Added on  2020-06-06

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MANAGINGSUCCESSFULBUSINESS

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1. Project aim and objectives................................................................................................1P 2 Project management plan.................................................................................................3P 3 Work break down structure..............................................................................................5TASK 2............................................................................................................................................7P 4 Quantitative and qualitative research methodologies.......................................................7P 5 Analysing of research and data using proper tools and techniques..................................9P 6 Recommendation for the project...................................................................................13TASK 4..........................................................................................................................................14P 7 Self reflection.................................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONDigital technology refers to that process which uses electronics and new media methodsfor communicating message to target audience through using internet. This is the most importantpart of current business world because it assists in adopting new and the latest technology ofdigitalisation whose main aim is to do fast and rapid communication (Varadarajan, 2017). Anorganisation gives available data and information which assists in attaining the desired goals andtargets. The research is related with on 3com which deal in computer systems and other services.It is a SME company which was established in the year 1979. They are famous as manufacturerof computer network products. They are offering products like IP voice systems, networkinterface controller, wireless access points, routers and controllers. Main purpose of this report isto understand different aim, objectives and required goals of the research project for analysinggrowth and development of 3Com by the help of digital technology. This report will assist ingathering data and identifying new sources for gaining success and growth to company as well. TASK 1P1. Project aim and objectivesThis world has turned into a battle ground where each and every business man desires tobe at the leading position in market with maintaining a strong position (How Cloud StorageWorks. 2017). Today, the level of competition is increasing day by day which required to providecompetitive products in the market. Therefore, cited firm needs to implement digital technologyin order to gain sales and profitability in the long run. By this way, it can be said that 3Com has to change their present ways of operatingbusiness activities. They now have to introduce modern digital technology in all of theiroperations. They should focus on creating innovative goods and services which helps people indoing their day to day work. By adopting this idea, it can attract a large number of customers andalso increase their popularity as a famous brand (Sultan and van de Bunt-Kokhuis, 2012). Fordoing this, workers of venture should use advanced technologies like Big Data Analytics andArtificial Intelligence. Thus, it can be stated that digitalisation is affecting positively on the smallcorporations by aiding them in growing their business.Before making any business plan andschemes, it is very important to design aims and objectives of the enterprise so that employeesget clear about their jobs or in which direction they have to work in order to achieve their aimsand objectives. 1

Topic: “The impact of digital technology supporting small business growth and innovation”Back ground of the study:The present report is designed by considering technological advancement and its effecton the growth of small or medium sized companies. In the past years, science and technologywere not so much developed and due to this, firms were facing many problems in attaining theirgoals and objectives. Personnel working in offices were engaged in doing manual work by takinguse of papers (Awa and et. al., 2015). This was very time consuming and errors or faults wereoccurring commonly due to physical work. Emergence of risks was creating different problemswhile production and delivery of goods and services. But now, this scenario has been completelychanged. Enormous development in the technology has been occurred here. Due to this reason,the procedures of doing businesses are now altered to a great extent. Technological factors become a macro element which is impacting on the working of allventure. Hence, it can have said that each and every enterprise should take use of moderntechnologies to be in the competition for longer span of time. For example, they should introducesocial media such as Facebook, what’s app, Twitter, YouTube, etc. in their firms in order toimprove their promotional activities as these applications are very cheap and easy to use(Hossain and Kauranen, 2016). Companies can do advertisement of their products or servicesand can seek attention of large number of citizens towards it. In addition to this, they can also usedigital techniques in the department of human resource and can easily recruit workers by takingtheir online interviews in less time period. Aim: “The impact of digital technology supporting small business growth and innovation”Objectives: 3Com is one of the leading firm that is dealing with manufacturing of those goodsand services which are based on computer networks. The organisation wants to make their goodsat very fast rate so that they can improve their level of production and in turn earns large sum ofmoney in minimum time interval. By analysing the conditions, some objectives for this project isdesigned which is mentioned below:Evaluating the impact of digitalisation at working location of 3ComTo earn huge amount of profits by implementing digital techniques in organisationTherefore, this corporation requires to concentrate on aims and objectives which arediscussed in this report so that they can understand the importance of advanced technologies anduse this in their firm.2

P 2 Project management planProject management plan is nothing but the list of activities that is going to beimplemented in the firm (Parry, S., and et. al., 2012). This assists in exploring the risks factorsthat may appear while developing products and services. The various areas which is going to beimplemented in this plan are described below:Project Scope: This part entails those activities which need to be performed in order toachieve aims and objectives of a project. In context with 3Com company which deals inmanufacturing section, implementing digital technology in business aid in producing highinnovative products. In this project, each and every area that is required to be modernisedare discussed. So the scope of this project is good as it helps in improving production aswell as turnover of company. Cost control: This is nothing but the scheme of controlling extra cost so that money cansaved and use in various other activities. As 3Com is engaged in doing paper work due tothis large amount of money get wasted only in purchasing papers. Apart from this, lot oferrors are occurred only because of doing manual work. Thus, the cited company requiresto introduce digital technology so that they can effectively minimise the utilisation ofpapers. For doing this, employees should use latest software in their computers like Ms –excel, Spreadsheet, Power – point, etc. By this way different business operations such asaccounting, sales, etc. can be improved (Ross and Blumenstein, 2015). In addition to this,they can also make attractive presentations for their clients. Now workers only need tofeed numerical figures or data along with some formulas in such software and in turn allof the calculations are performed automatically in few seconds. In this manner, managersof 3Com used to take personnel and online interviews of candidates so that high skilledworkforce can be introduced in business. Initial Investment : 120000Expenses:Operational Activities: 16000R&D Activities: 27000Cost to IT Experts: 15000Licensing Fee: 12000Challenges of implementing cost 3

For executing cost in the project, there are some challenges which are faced by managersuch as disorganised bidding process slow estimation, inability to estimate the benchmark andmany others. Quality control: This is the method of maintaining qualities in the goods and servicesmade by corporation so that more and more people prefer to purchase their products inhuge quantities. This also make reduction in the feedbacks or complaints coming fromthe side of clients. For making this possible, they can take support of modernisedmachineries that can produce best quality of products in very less quantity of rawmaterials and in minimum period of time. Those advanced machineries make the work ofmanufacturing so easier because some of the work are performed by machines itself.Workers need to maintain safety while using such equipment’s so that this do not effecton their security and health (Taiminen and Karjaluoto, 2015). On the other hand, variousdecisions are made by the workers after consulting with their associates. In order to dothis, they can use social media applications as this is considered as best techniques ofdoing effectual communication. They can also connect with their customer’s every timeby using this and reply to their questions and feedbacks. 3Com should invest around 500$for accomplishing this job of maintaining quality.Risk management: It is also an important portion of this project wherein all the riskyfactors needs to be eliminated which are emerging while performing various businessoperations. Company can take use of digital techniques in determining the risks and takeappropriate decisions for removing them (Stankovska, Josimovski and Edwards, 2016).The cited organisation should accomplish this project as soon as possible as more timewill consume additional revenue. This is to be noted that all the risks should be find outas well as destroyed by making limited investment.Communication: For conducting market researches, 3Com have to communicateproperly with regional citizens in order to determining their needs and demands. Andmanufacturing should be carried on in accordance with that. Company can take use ofexternal mode of communication for doing research and can use internal methods ofcommunication for resolving their business problems by taking with workers. Thisprocess will charge around 400$ while the researcher need 100$ for their research toidentify that which communication mode is beneficial for the company.4

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