Managing Successful Business Essay - PEARSON

Added on - 21 Jul 2020

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MANAGING SUCCESSFULBUSINESS (IMPACT OFDIGITAL TECHNOLOGYON SMALL BUSINESSENTERPRISES)
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Aims and objectives.........................................................................................................1P2 Project management plan..................................................................................................2P3 Work breakdown structure and Gantt chart......................................................................5TASK 2.........................................................................................................................................6P4 Small scale research.........................................................................................................6TASK 3............................................................................................................................................2P5 Analysing the data gathered..............................................................................................2P6 Recommendation...............................................................................................................9TASK 4.........................................................................................................................................10P7 Reflection.......................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11Log book........................................................................................................................................12Template for the performance review of the learner......................................................................1
INTRODUCTIONDigitalization refers to an process of transferring appropriate information through digitalplatform. It is very useful for decision making in an organisation. This consists adoption ofelectronic modes and creative media sources for performing several functions of business such ascommunication, production, performance appraisal etc. It facilitates small business enterprises todevelop their business faster by using advanced technologies. This also assists in financial gainsof company (Wheelen and Hunger, 2011). This report is about PEARSON which is world'slearning company. In this assignment, significance of digitalization process in growth of thiscompany will be discussed. To perform all the activities in effective manner, management planis required to be designed by corporations. This project consist data collection and interpretationby using adequate methods. At last, there will be suggestions in order to eliminate the hurdlesthat affects the growth of this organisation.TASK 1P1 Aims and objectivesIt is very essential for every type of organisation to set certain aims and objectives inorder to use advanced technologies in company that is required for facilitating company's growthand success in effective manner. Innovation is very important for smooth functioning of businessoperations. Digitalization assist in enhancing quality of activities taking place in an company.Nowadays, it is very important to develop products and services in effective and creative mannerin order to attract number of consumers (Trkman, 2010). This could help in improving financialposition of small enterprise and it can attain competitive advantages. Innovation in techniques ofworking is required to capture large market segment. Digital technology helps in delivering allthe necessary information from one person to another in effective way. It is an good platform tointeract with consumers and identify their needs and wants related with products and services ofcompany.Background of project-Every enterprise requires to modify their activities timely by adopting advancedtechnologies and innovative ways that are taking place in current world (Zikmund and et. al.,2013). This process ensures long term growth and survival of business. It is an important strategyto identify latest needs and wants of buyers and design products and services according to their1
taste and preferences. Users will be delivered with innovative goods which will generate higherlevel of satisfaction.Topic- “Impact of digitalization on growth of small business enterprise: A case ofPEARSON.”Aim-The main aim of this entity is “to use digital technology for the purpose of growthand innovation”. They wants to develop unique products and services to their clients by usingdigitalization. Their objective is to analyse impact of modern technology in operations ofbusiness in order to achieve success. Society has raise their standards of living due to advancedtools and techniques. This directly influences development of entire economy. So, mainobjectives of this project are as follows-To identify the impact of digital technology on growth of Pearson.To determine how it will facilitate growth of this enterprise.Identify advanced techniques and their feasibility in this entity.After analysing the aims and objectives of this study there are several questions thatare required to be answered. These are as follows-How Pearson can use modern technologies?Is there requirement for any modification due to this innovation?In what manner these equipments will help in growth of this enterprise?After identifying these questions it is required to get aware about main aims andobjectives of this study in order to make plans as per that. There is need to design effective plansand policies so as to develop small enterprises (Teece, 2010).P2 Project management planPlanning is most important activity in every type of organisation whether it is small orlarge. This provides correct path for activities to be performed in future (Storey, 2016). Projectmanagement plan is required to be prepared in order to provide guidelines to entire managementto conduct all the activities in effective manner. This is not an easy task as it requires hugeexpertise from various fields. It helps in taking decisions regarding time, scope, cost, risk, qualityand communication. This assists the learner by saving their time as they are already aware aboutwhat is to be done. Such planning provides adequate framework that could be used in project.Main components of project management plan are as follows-2
Scope-This is very important for enterprise to identify activities related with innovationto use it in favour of business growth. Such research on small scale enterprise helps in analysingthe impact of digital technology on development process. It is an important technique to collectdata and information about related areas for achieving aims and objectives (Stokes, Wilson, andWilson, 2010).Cost- Another important component for planning for this project is cost. It is the amountthat is to be spend on research. This is important to prepare budget in order to analyse how muchcost is required in future. Gantt chart, data analysis are essential activities in this process. It willassist in managing all the activities as per the budget so that there will be proper utilization offunds.Time-In every project, it is necessary to identify the time that is required for finishing itin effective manner. Preparing proper schedules will be beneficial to arrange all the activities onthe basis of time (Onetti and et. al., 2012). To complete this project company will need 30 days.This element is important to complete the project in adequate time without any delay.Illustration1: Project managementSource1: Project management execution, 20163
Quality- It is very important to develop effective strategies for mainlining quality ofproject. For this purpose, all the activities and processes are to be conducted in qualitativemanner so as to get accurate outcomes. Aims and objectives will help in clarifying the basicgoals of this research and about the topic of study. This assignment is about impact of digitaltechnologies on success of an small enterprise that is Pearson. Quality of project could beimproved by developing creative ideas in order to improve introduce innovation in products andservices (Marston and et. al., 2011). This will assist in generating accurate results that is essentialfor productivity and profitability of this entity.Risk- There are several risks involved in starting new project. It creates hurdles insuccessful completion of activities. Such risks results in lot of problems during this process. Thiscould reduce chances of success in adopting innovative technologies. It is required to identifythese risks so that their negative impact could be reduced. Therefore, management should makeappropriate strategies to make the staff members able to handle these problems. This will help ineffective completion of task (Kerzner, 2013).Resources- This is most important concept in this planning. This is related with assetsthat are required to complete this project in successful manner. Planning related with resourcesensures proper and optimum utilization of all the things associated with this assignment.Communication- It refers to interaction between people that re associated with thisproject. This is necessary that there should be proper coordination amongst individuals so thatgoals and aims could be achieved in effective manner. In this project management planningstrategies are build to maintain positive relations amongst all the teams and divisions.Motivational tools are used to encourage employees to cooperate with each other. It is alsorequired for ensuring proper communication with consumers and other stakeholders.P3 Work breakdown structure and Gantt chartWork breakdown structure refers to the activity of dividing all the tasks in small parts. Itincludes allocating work amongst various employees and teams on the basis of their specializedfields. This is very helpful in dividing roles and responsibilities amongst workers so that theywill accomplish their functions in effective manner (Hotho and Champion, 2011). In case ofPearson, they are adopting advanced technologies for ensuring success of business. This projectis conducted to understand the impact of digital equipments on their performance. In this study,researcher is using effective techniques so that all the work will be done in such a manner that it4
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