Influence of Digital Technology on Business - Report
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Added on 2020-06-03
Influence of Digital Technology on Business - Report
Added on 2020-06-03
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MANAGINGSUCCESSFULBUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P 1 Aims and objectives of project ............................................................................................1P 2 Project Management Plan....................................................................................................3P 3 Work-breakdown-structure and Gantt Chart .......................................................................6TASK 2 ...........................................................................................................................................9P 4 Small scale research .............................................................................................................9TASK 3..........................................................................................................................................11P 5 Analysation of research and data using proper tools..........................................................11P 6 Recommendation ..............................................................................................................15TASK 4..........................................................................................................................................15P 7 Reflection............................................................................................................................15CONCLUSION ...........................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONThe advancement of digital technology is contributing a lot in the growth of business ofany organisation. Ventures in past years were not able be to achieve their goals and objectives asat that time technical development was not occurred. On the other hand, companies are sharingas well as storing their information by taking aid of modernised technology. In addition to this,various other functions such as human resource management, accounting, sales and marketing,supplying, etc. are also taking help of developed technologies (Awais Ahmad Tipu and ManzoorArain, 2011). The present report is based on the influence of digital technology on the businessgrowth of Nisa Retail Limited. It is popular brand and are independent retailers as well aswholesalers in the UK. It is a small and medium sized enterprise and are having very less numberof workers. In this project, several aims, objectives and project plan has been recognised forexamining the impact of digital technology on the Nisa and its business functions. Additionally,research has been conducted to determine the need of technological advancement in differentareas of business. TASK 1P 1 Aims and objectives of project This is very essential to design an accurate and appropriate plan for all of theorganisations in the current era in order to expand their business activities for maximising theirbusiness profitability. An effective project has a overall image of profits gained by the ventureafter completion of all the assessments or activities. Even it can also forecast its future businessgrowth in the market place. It is to be noted that the utilisation of resources should be done incorrect way (Bakker, Cambré, Korlaar and Raab, 2011). Therefore, the primary objective of theproject is to attain more and more profits on their investment by satisfying the needs or demandsof all customers. Besides this, Nisa should include digital technology in their business so thatthey can fight with the tough competition as large number of competitors are rising day on day.Various companies are coming with innovative ideas and are offering same kind of products andservices as that of Nisa. So, it is now become necessary for this venture to produce moreinnovative and unique goods beyond the thinking of their competitors. 1
They should also manage their business deals effectively by delivering them their ordersbefore or on the allocated date for delivery. Nisa Retail Limited is now adopting modern digitaltechnologies for executing their business operations in an effectual manner and by this way theycan also take better future decisions by considering relevant facts and figures (Basu, 2014).Hence, it can be concluded that digitalisation is giving a positive impact on the business ofventure and are supporting in growth of their business. Theme : Influence of digital technology on the business growth and innovationBack – ground of project : It is important for the every organisations to make change in their business norms andpolicies according to the alteration occurred in the marketing environment. Technology isplaying a vital role in all sectors of business and even it is treated as an external macro factor.Modernisation in the technological aspects has bring so many revolutionary effects in the worldof marketing. In other words, it can be stated that digital technology has changed the wholescenario of the small and medium sized companies (Geraldi and Lechter, 2012). Nisa can makeimprovement in their administration department by taking help of cloud computing. It enablesthem to store as well as share their information to remote users and customers as per the needs.They can also develop their mode of communication by using several social media such as Facebook, What's app, Twitter, Gmail, etc. On the other hand, production department can produce innovative goods for seekingattention of large number of users towards their goods by taking help of some new technologieslike artificial intelligence and big data analytics. This also aids them in growing their productsquantity at greater extent (Hall, 2011). The modern technologies enable other areas like humanresource department to improve their working. Managers of the cited corporation can recruitemployees by taking their interviews through online. This saves money as well as costly time ofthe venture. Therefore, this project consist of different objectives that support Nisa in executingtheir business effectively. Aims : The first and foremost aim of this project report is to determine the impact of digitaltechnology on the organisational growth. In addition to this, it also evaluate the influence ofdigitalisation on the new innovations. Besides this, there are various other aims of the projectthat is discussed below :2
This report will concentrate on those regions of Nisa where technological advancement isneeded for achieving goals and targets of business. Impact of modern technology on the several activities of organisation such ascommunication, manufacturing, advertisement, accounting, human resource department,marketing, etc. Objectives : Nisa is one of the leading venture that is dealing with the business ofretailing and wholesaling in the United Kingdom. It is a mutual company owned by its membersand are operating like a co- operative , by taking use of collective buying power of large group ofmembers for negotiating deals with the suppliers (Harish and Kumar, 2014). This companywishes to manufacture quality based goods and services at the fast rate in order to satisfy therequirements of consumers. In addition to that, it also wants the recognise those areas wherechanges can be done in context of technology. The major objectives of the project are listedbelow :Evaluation of enforcement of digital technology within their work placeTo identify the reason behind modifying different business activitiesTo recognise the influence of modern technologies on production department, humanresource management, sales and accounting and marketing functionsTo measure the increment in profitabilityHence, these are some essential aims and objectives of this project which will berepresented in this overall report. All the above mentioned objectives are linked with the digitaltechnologies that helps Nisa in developing their productivity and earning high profitability(Hwang and Ng, 2013). Almost all of the ventures within this world are taking aid of technologyfor improving their performances and increasing their profits. P 2 Project Management PlanBefore designing any project management plan, it is very important to know or determinethe risks factors that can give adverse affect on the whole project. If this will not done, thenvarious factors emerges in future that hinders the performance of venture (Kowalkowski,Kindström and Brehmer, 2011). Therefore, researcher should conduct a survey for determiningall the risky factors that can give negative impact on this project. In other words, it can be stated3
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