Managing Sucessful Business Project Assignment

Added on - 12 Jan 2021

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Managing Sucessful Business Project
TABLE OF CONTENTSABSTRACT....................................................................................................................................1INTRODUCTION...........................................................................................................................2Title..............................................................................................................................................2Introduction to organisation.........................................................................................................2Introduction to digital technology...............................................................................................2Research aim................................................................................................................................2Research objectives.....................................................................................................................3Research questions.......................................................................................................................3LITERTURE REVIEW...................................................................................................................3Concept of digital technology......................................................................................................3Impact of technology leading to transformation of activities of business...................................3Interrelationship between growth of M&S with digitalisation....................................................4METHODOLOGY..........................................................................................................................5Sampling methods.......................................................................................................................5Research philosophy....................................................................................................................5Research approach.......................................................................................................................5Research strategy.........................................................................................................................5Data collection.............................................................................................................................6Data analysis................................................................................................................................6Time horizon................................................................................................................................6FINDING.........................................................................................................................................7DISCUSSION................................................................................................................................13CONCLUSION..............................................................................................................................14REFLECTION...............................................................................................................................14REFERENCE................................................................................................................................16APPENDIX....................................................................................................................................18
TABLE OF FIGURESFigure 1: Helfulness of digital technology for M&S.......................................................................8Figure 2: Digital technology is useful in improvemeent of productivity and business activates....9Figure 3: Digital technology is used in all departments of M&S..................................................10Figure 4: Digital technology used in all departments....................................................................11Figure 5: Potential barriers for use of digital technology within M&S.........................................12Figure 6: Benefit of digital technology for m&S as whole...........................................................13
ABSTRACTMarks and Spencer was founded in year 1884 and is British multinational retail companywhich is specialising into selling of all types of clothing, home and food products as well. Atcurrent time company is having about 979 stores all across UK but area served is worldwide thatof M&S having about £10 billion total revenue. This current era which is more focused onincreasing importance of technology not only on personal but also professional life of individual.So this is also including digital literacy which means in what proper manner person is been ableto use technology, networks and having access to communication tools. So both the type of datacollection techniques are to be used in current research which is data gathered from primarysource like that of 25 participants from various departments. Also data from different books,articles and journals will be used and these are secondary method of data collection. All successof company will be depending upon their way of using and implementing technology so that itbecomes easy for them to achieve their goals. Then also there are some disadvantages or barriersof implementing digital technology like that of lack of vision, money, time and not having properleadership. These are some barriers in applying digital technology within M&S.1
INTRODUCTIONTitleHow digital technology has transformed business activities: A study on Marks andSpencer.Introduction to organisationMarks and Spencer was founded in year 1884 and is British multinational retail companywhich is specialising into selling of all types of clothing, home and food products as well. Atcurrent time company is having about 979 stores all across UK but area served is worldwide thatof M&S having about £10 billion total revenue. It is very much important for firm is utilising alltype of digital technology within all their sections like that of finance, operation and marketing.Marks and Spencer recently announced technological transformation which is part of their 5 yearplan helping firm to deliver improvement in experience of customer and creating faster functions(Collins and Halverson 2017). This technological program will be enabling M&S in generatingabout £30 million revenue each year by 2021 and cost of implement will be £25 million. So thisshows that how much focused management of M&S is towards its use and implementation ofdigital technology.Introduction to digital technologyDigital transformation is that process which is including changes and modifications withuse of technology like that of cloud computing, software development, big data analysis andvarious forms of networks. This current era which is more focused on increasing importance oftechnology not only on personal but also professional life of individual. So this is also includingdigital literacy which means in what proper manner person is been able to use technology,networks and having access to communication tools. In this respect information technology ismost frequently used phenomenon which is related to financial statements and communication ofthem to management (Strauss and Frost 2016). Digital technology is very much importantly usedin every organisation so that they are could be gaining higher amount of profits, selling productsto more customers, increasing market share and improving quality of products as well.Research aimHow digital technology has transformed business activities: A study on Marks andSpencer.2
Research objectivesTo examine the concept of digital technology.To evaluate the impact of digital technology which is leading to transformation ofbusiness activities.To interrelate the growth of M&S with its effect from digitalisationTo suggest various ways through which digital technology could be implemented withinM&S.Research questions1.What does digital technology means as concept?2.How will importance of digital technology will be evaluated within business?3.How to interrelate both growth of M&S with digital technology?4.What suggestions are made in consideration with digital technology in M&S?LITERTURE REVIEWConcept of digital technologyHanelt and Kolbe (2015) introduced technology as that means which is enablingcompanies, individuals and whole community to fill up the gap of communication, learning newthings, improving quality of products and increase in profits for company. Digital technology isenabling peoples to gather huge amount of information and data about all necessary requirementswhich is leading to slow transformation of lives of people. Thus it could be said that technologyis helping in transforming platform of communication level of individuals which is alsoprocessing knowledge. All the old or traditional ways of maintaining information or data whichis combined to form physical and digital manner. Businesses are finding out way to transformprocess, experience of customers and models of organisation as well.Impact of technology leading to transformation of activities of businessAs per the view of Westerman and McAfee (2014) digitalisation is having strong impacton activities of business like that of including finance, operations, marketing and humanresources management. Technology will be leading to transformation of companies with relayingon increased amount of profits and improved quality of products and service. Digital technologyis helping firm to identify their aims and objectives with given opportunities in respect to theircompetitors who are their within markets. Digital technology is playing very important functionin transforming companies in doing their business and earning profits as well. Enabling3
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