Research Project Assignment - The Implication of Digital technology On Softwire Ltd
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Added on 2020-10-23
Research Project Assignment - The Implication of Digital technology On Softwire Ltd
Added on 2020-10-23
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RESEARCH PROJECT
TABLE OF CONTENTSRESEARCH TOPIC- The effect of digital technology on Small medium enterprise ...................1TASK 1............................................................................................................................................1PROPOSAL FOR RESEARCH .....................................................................................................1Introduction ...........................................................................................................................1Research aims and Objectives ...............................................................................................2Literature Review...................................................................................................................2Activities and Timescales.......................................................................................................6Research methodology...........................................................................................................8TASK 2............................................................................................................................................9Primary and secondary research methodology.......................................................................9Data analysis ........................................................................................................................12TASK 3..........................................................................................................................................15Research outcomes in appropriate manner ........................................................................15TASK 6..........................................................................................................................................25Effectiveness of research methods applied for meeting objectives of business research project...............................................................................................................................................25Alternative research methods and lessons learnt in the view of outcomes.........................26REFERENCES..............................................................................................................................27
RESEARCH TOPIC- The Implication of Digital technology OnSoftwire Solutions Ltd, UK.TASK 1PROPOSAL FOR RESEARCH Introduction SMEs are considered as those business enterprises that usually regulate their businessoperations at domestic and national level with an aim to maximize the profitability. In the UK,these small and medium sized enterprises have achieved a wide growth as they focused towardscontinuous innovation. Small and medium sized enterprise that has embraced digital technologyhas shown faster growth than companies that have not according to new research. Application ofnew and unique technologies in business have made it easier for companies to perform theirfunctions in an appropriate manner. There are important functions that have been performed byowners and entrepreneurs of small and medium sized enterprises such as production, marketing,finance, administration, distribution and storage. Digital technologies have made it easier forthese enterprises to perform these functions within specific duration and also, to reduce their costThe various development have taken place In context of engineering. It is crucial to ensure thatthey should utilize technology in order to provide high quality services to customers. There are various digital technologies such as cloud computing, connectivity, DBMS,social media, E- commerce and other important software that have been used by SMEs toimprove their functions. Implementation of these technologies has increased variousopportunities for business to attract customers and attain high growth in market. Further, mainobjective of organisation is to increase profitability and the set goals can be easily achieved byfacilitating innovation and improving business functions by using digital technologies. Currentinvestigation is based on analysing important of digital technology in context of supportingsmall business enterprise in facilitating innovation and fostering growth. . At organisation haveto face different problems.Employment of digital technology haveoptimistic and destructiveimpacts on business. The sofwire organisation has been selected for the present study. Companyoperates business in IT sector as well as firm offers bespoke software service, digital designsolutions and consultancy service to some top leading UK brands. Company’s aim is to build thebest possible environment to produce outstanding software. Softwire analyses the requirement1
of their clients and resolves their issues for creating brand recognition in market. However, thereare some challenges which are faced by company due to which revenue and growth of firm getsnegatively affected. Research aims and Objectives Research aim“To analyse the implication of digital technology on functions of small mediumenterprise- A survey on Softwire Solutions Ltd, UK.”Research ObjectivesTo understand the conception of digital technology in accordance with SMEsTo analyse significance of digital technology in context of regulating small businessenterpriseTo analyse the application of digital technology in functions of SoftwireTo ascertain implications of digital technology on functions at SoftwireTo recommend and suggest strategies for improving application of digital technologiesfor operations management at SoftwireResearch RationaleRationale behind carrying out this research project is to achieve knowledge andexperience of different functions performed by small medium enterprise for regulation ofbusiness. This topic for investigation is selected to gather detail facts about various form ofdigital technologies used by companies for improvement of functions and business operations. Research QuestionsWhat is the conception of digital technology in accordance with SMEs?What is significance of digital technology for regulating SMEs?How digital technologies are applied in functions at Softwire?What are the implications of digital technology on functions of Softwire? Literature ReviewConcept of digital technology in accordance with SMEsAccording to Tang and et.al, (2017), digital technologies are various applications andsoftware which are developed and used for performing business activities and function by2
companies. Application of these technologies has improved the efficiency and enabledentrepreneur to establish business operations and focus on innovating products and services. Inthe UK, 99% of private sector companies are SMEs and they have achieved almost 49% ofgrowth in revenues. This has become possible for them after application of these technologies inenterprise. The differentbusiness functions which are carried out for management of businessalong with maximizing profitability. Foroudi and et.al, (2017) describes that digital technologies is mainly applied by SMEs toperform marketing function as it provides support in getting customer’s attention for productsand services. Different communication channels such as social media, internet and direct mailsare technologies which are used by companies for marketing of products among targetcustomers. Further, SMEs are also known in market as continuously innovating enterprises asthey provide focus on making changes in products and service for attracting customers.Implementation of digital technology has made it possible for them to carry out innovation andtransform products at low risk. Importance of digital technology for regulating small business enterprise.According to Krishnan and Ravindran, (2017), efficiency of SMEs of enterprises in allindustries have increased after application of digital technologies. It has enable the company toimprove their processes and apply new method to perform functions. In IT sector, companieshave attained major support from these technologies in creating new software and provideconsultancy to their clients. Various technical application and systems are formulated bycompanies to facilitate reliable and quality services to their clients. Clients of IT sectorenterprises are leading organisation which requires professional systems and software forcarrying business activities. This technology has made it possible for software developmentcompanies to exceeding requirement of clients. According to Quinton and et.al, 2017), digital technology also plays an important role inincreasing work efficiency of employees at workplace. This technology has enabled them toattain skills and competencies required to performance different functions at workplace. Further,digital technologies like Social media, digital advertisements and internet have facilitatedorganisation to improve its functions and adopt new ideas for developing products and services.Through this, organisation has become able to provide information and attract clients towardsnew services. In UK, SMEs have achieved high growth in revenues and profitability after3
application of new technologies in business, according to research. However, it can be said thatdigital technology have major importance among small business enterprise. Application of digital technologies in functions of Softwire.As per view of Jin and Hurd, 2018), for marketing of products and service amongcustomer company usually focus on using different types of technologies through which theycan attract their target customers. Social media application and internet is used by company forcommunicating with their clients in different countries. Wide presence of people on socialmedia have improved promotion of business in market. In IT sector, cloud computingtechnology is utilized by companies to store and secure data of their clients. They also providecloud computing software for their clients for protecting their data from any kinds of damagesand maintaining security. In order to meet requirement of clients, SMEs continuous make innovation in service bymaking conducting research on internet and using other technologies. According to Bouwman and et.al, (2018), companies provide focus on hiring qualified employeewhich have experience of using these technologies and provide support in performing functionsappropriately. Qualified professional helps in adopting new technologies and also resolveproblems that occurs in management of operations. On contrary to this Tang and et.al, (2017),stated that SMEs are less efficient in implementation and using digital technologies because theyhave less number of efficient employees and does not have potential to pay high salaries toexperts. They usually perform their functions by using traditional methods. Implications of digital technology on functions at SoftwireAccording to Foroudi and et.al, (2017), Sources internet and media channels haveprovide positive impact on business of organisation by generating various opportunities to attractnew and retaining previous customers. Gathering information about customers through digitaltechnologies have also enabled to organisation to develop new and transform their existingproducts and service. This aids the organisation in attaining customers loyalty and recognition inmarket. these new technologies have enabled the HR manager to transform recruitment and helpsin hiring qualified employees at workplace. SME always aims to earn high profitability inmarket by increasing sale of products and service and reducing operating. By implementing thistechnology, requirement of employees in organisation have been decreased which has reducedlabour cost of organisation in market. By using these technologies, IT sector enterprises has4
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