Managing Sucessful Business Project

Added on -2020-12-09

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Managing Sucessful Business Project
TABLE OF CONTENTS
ABSTRACT....................................................................................................................................1
INTRODUCTION...........................................................................................................................2
Title..............................................................................................................................................2
Introduction to organisation.........................................................................................................2
Introduction to digital technology...............................................................................................2
Research aim................................................................................................................................2
Research objectives.....................................................................................................................3
Research questions.......................................................................................................................3
LITERTURE REVIEW...................................................................................................................3
Concept of digital technology......................................................................................................3
Impact of technology leading to transformation of activities of business...................................3
Interrelationship between growth of M&S with digitalisation....................................................4
METHODOLOGY..........................................................................................................................5
Sampling methods.......................................................................................................................5
Research philosophy....................................................................................................................5
Research approach.......................................................................................................................5
Research strategy.........................................................................................................................5
Data collection.............................................................................................................................6
Data analysis................................................................................................................................6
Time horizon................................................................................................................................6
FINDING.........................................................................................................................................7
DISCUSSION................................................................................................................................13
CONCLUSION..............................................................................................................................14
REFLECTION...............................................................................................................................14
REFERENCE................................................................................................................................16
APPENDIX....................................................................................................................................18
TABLE OF FIGURES
Figure 1: Helfulness of digital technology for M&S.......................................................................8
Figure 2: Digital technology is useful in improvemeent of productivity and business activates....9
Figure 3: Digital technology is used in all departments of M&S..................................................10
Figure 4: Digital technology used in all departments....................................................................11
Figure 5: Potential barriers for use of digital technology within M&S.........................................12
Figure 6: Benefit of digital technology for m&S as whole...........................................................13
ABSTRACT
Marks and Spencer was founded in year 1884 and is British multinational retail company
which is specialising into selling of all types of clothing, home and food products as well. At
current time company is having about 979 stores all across UK but area served is worldwide that
of M&S having about £10 billion total revenue. This current era which is more focused on
increasing 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 able
to use technology, networks and having access to communication tools. So both the type of data
collection techniques are to be used in current research which is data gathered from primary
source 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 success
of company will be depending upon their way of using and implementing technology so that it
becomes easy for them to achieve their goals. Then also there are some disadvantages or barriers
of implementing digital technology like that of lack of vision, money, time and not having proper
leadership. These are some barriers in applying digital technology within M&S.
1
INTRODUCTION
Title
How digital technology has transformed business activities: A study on Marks and
Spencer.
Introduction to organisation
Marks and Spencer was founded in year 1884 and is British multinational retail company
which is specialising into selling of all types of clothing, home and food products as well. At
current time company is having about 979 stores all across UK but area served is worldwide that
of M&S having about £10 billion total revenue. It is very much important for firm is utilising all
type 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 year
plan 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 generating
about £30 million revenue each year by 2021 and cost of implement will be £25 million. So this
shows that how much focused management of M&S is towards its use and implementation of
digital technology.
Introduction to digital technology
Digital transformation is that process which is including changes and modifications with
use of technology like that of cloud computing, software development, big data analysis and
various forms of networks. This current era which is more focused on increasing 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 able to use technology,
networks and having access to communication tools. In this respect information technology is
most frequently used phenomenon which is related to financial statements and communication of
them to management (Strauss and Frost 2016). Digital technology is very much importantly used
in every organisation so that they are could be gaining higher amount of profits, selling products
to more customers, increasing market share and improving quality of products as well.
Research aim
How digital technology has transformed business activities: A study on Marks and
Spencer.
2
Research objectives
To examine the concept of digital technology.
To evaluate the impact of digital technology which is leading to transformation of
business activities.
To interrelate the growth of M&S with its effect from digitalisation
To suggest various ways through which digital technology could be implemented within
M&S.
Research questions
1. 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 REVIEW
Concept of digital technology
Hanelt and Kolbe (2015) introduced technology as that means which is enabling
companies, individuals and whole community to fill up the gap of communication, learning new
things, improving quality of products and increase in profits for company. Digital technology is
enabling peoples to gather huge amount of information and data about all necessary requirements
which is leading to slow transformation of lives of people. Thus it could be said that technology
is helping in transforming platform of communication level of individuals which is also
processing knowledge. All the old or traditional ways of maintaining information or data which
is combined to form physical and digital manner. Businesses are finding out way to transform
process, experience of customers and models of organisation as well.
Impact of technology leading to transformation of activities of business
As per the view of Westerman and McAfee (2014) digitalisation is having strong impact
on activities of business like that of including finance, operations, marketing and human
resources management. Technology will be leading to transformation of companies with relaying
on increased amount of profits and improved quality of products and service. Digital technology
is helping firm to identify their aims and objectives with given opportunities in respect to their
competitors who are their within markets. Digital technology is playing very important function
in transforming companies in doing their business and earning profits as well. Enabling
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