Report on Digital Technology and Its Impact on Business - Austin Fraser

MANAGING
SUCCESSFUL
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P 1 Project aims and objectives..............................................................................................1
P 2 Project - management plan...............................................................................................3
P 3 Work – breakdown – structure and Gantt Chart .............................................................5
TASK 2............................................................................................................................................7
P 4 Small scale research by using quantitative and qualitative research methodologies.......7
TASK 3............................................................................................................................................9
P 5 Interpretation and analysis of research and data using proper tools ...............................9
P 6 Recommendation............................................................................................................14
TASK 4..........................................................................................................................................15
P 7 Self reflection on the value of undertaking project .......................................................15
CONCLUSION .............................................................................................................................16
REFERENCES..............................................................................................................................16

INTRODUCTION
There has been a dramatic change in the technology now a days which is changing the
whole scenario of business in all organisations. The requirement of technology in every firm is
increasing day on day as modern technology aids in each and every sector either it is the sector
of retailing or consultancy. In past years, technical advancement is not done and that is why
ventures are not able to attain their goals and objectives 1. But now in this modern era, most of
the firms are introducing technical equipments and various digital services to improve their
performance. The present report is based on the digital technology and its impact on the business
growth of Austin Fraser. It is a small consultancy firm in United Kingdom which offers
recruitment services to various small companies. In this project the aims, objectives, project
management plan, etc. of this venture has been explained so that it effectively plan their
strategies according to that.
TASK 1
P 1 Project aims and objectives
Before making any strategies, every organisation needs to create its own aims and
objectives so that they become clear about what they wish to achieve. This will aids in their
growth and development. By taking help of digital technology, ventures can make improvement
in their various sectors like accounting, marketing, human resource department, etc. 2 Now the
world become battle ground and every one wants to be at first position, due to this competition
has been increased at greater extent. So, to become a part of this competition and for holding a
good position in market , Austin Fraser has to take support of modernised techniques. They can
run their business of consultancy in effective manner by using digital methods. In fact, this also
aids in making good decisions for present as well as future. Therefore, it can be said that
digitalisation is giving a positive impact on the business growth of small-scale organisations.
Theme : Contribution of digital technology in growing small business and innovation
1 Aral, Sinan, Chrysanthos Dellarocas, and David Godes. "Introduction to the special issue
—social media and business transformation: a framework for research." Information Systems
Research 24, no. 1 (2013): 3-13.
2 Coad, Alex, Agustí Segarra, and Mercedes Teruel. "Innovation and firm growth: Does
firm age play a role?." Research Policy 45, no. 2 (2016): 387-400.
1

Back ground of project :
Digital technology has revolutionised the way of conducting business. It has been
observed that it has dramatically altered conventional business models and totally transformed
business activities. The utilisation of modern technologies has provided business business with a
wealth of choice and opportunities. So, it is very essential to change policies and strategies
according to the changing world. Now technology has become an external or macro
environmental factor which is impacting a lot the overall business of every firm. With the aid of
technological advancement, ventures can promote their services and goods in an effect-able
manner by doing their advertisement on small as well as large scale. On the other hand, human
resource department of company can do their recruiting and selecting activities via online
services. In addition to this, enterprise can also use digitalisation in accounting sector and store
their financial records safely 3. Company can also develop new services by doing some
innovative things. Thus there are several aims and objectives of Austin Fraser that are mentioned
below :
Aims : The primary aim of this project is to determine the influence of digital technology on the
business growth and innovations in context with cited venture. Additionally, there are some other
aims of this project which is listed below :
 This project wants to find those areas where there is a need of technical advancement in
the organisation so that aims and targets can be achieved effectively.
 Impact of digital technology on growth business activities like promotion, marketing,
production, innovations and human resource management.
Objectives : Austin Fraser is one of the leading enterprise that deals with the recruitment and
training of skilled person and provides consultancy services to other firms. Organisation desires
to do this job of recruitment and selection of suitable applicants at faster rate so that they can
satisfy their clients and earn high profitability from it in minimum period of time 4. They also
wishes to find those areas which need some modification. Some the major objectives of this
report are discussed below :
3 Gijić, Nebojša, Oliver Dimitrijević, and Adriana Jović-Bogdanović. "AGGRESSIVE
IMPLEMENTATION OF DIGITIZATION IN THE MODERN BUSINESS."
Ekonomika 60, no. 4 (2014).
4 Hänninen, Kai, Harri Jokela, Martti Saarela, and Matti Muhos. "How to Identify Micro-
Firm Owner-Manager's Potential Growth Intentions." In 12th European Conference on
Innovation and Entrepreneurship ECIE 2017, p. 280. 2017.
2

 Evaluation of enforcing digital technologies at working location
 To determine reasons behind need of modification in business related activities
 To identify effects of digitalisation on various sectors like production, accounting and
human resource management.
 To maximise the profitability
Hence, some of the aims and objectives of this project is described above that needs to be
provided focus by the Austin Fraser. As all of the aims and objectives are associated with the use
of digital technology in business growth , so it is proved to be very beneficial for this cited firm
as they can make their strategies as per that in order to earn more and more profits. Almost all
the consultancy firms are taking help of modern technology as this the process of recruitment
very easy and fast.
P 2 Project - management plan
It is very necessary to identify all the risks factors before making any project
management plan, otherwise this will create problems in future. By doing this planning, a
researcher can avoid all the risky factors that can affects adversely while attaining goals of
venture. Some of the major areas of this planning are described below :
 Project scope : It consist of all those areas which would be covered in this whole
project. This business project is made for the Austin Fraser, a consultancy firm that
offers recruitment services to different ventures. As this is a company which provides
consultancy services so in this project, importance of digitalisation is discussed along
with their impacts on growth of the business activities 5. In this assignment, all the
expected ways has been explained that aids Austin Fraser in communicating with their
workers as well as customers so that they can acquire organisational goals and
objectives.
 Cost control : This is the method of controlling extra costs so that company can save
their revenue and spend in other important sector. As Austin Fraser is a consultancy
organisation, a lot of paper work are performed that should be reduced. Due to more
paper work , large sum of money goes on purchasing papers that should be controlled.
Venture should use computer system doing their different works like calculations,
5 Wu, Desheng Dash, Shu-Heng Chen, and David L. Olson. "Business intelligence in risk
management: Some recent progresses." Information Sciences 256 (2014): 1-7.
3