Impact of Digital Technology on Business Activities and Performance in UK Retail Industry
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This research project explores the impact of digital technology on business activities and performance in the UK retail industry, focusing on a case study of Harrods Plc. It examines the trends, challenges, and benefits of digital technology adoption in the retail sector.
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Business Research Project An Exploration of the Impact of Digital Technology on Business Activities and Performance in the UK Retail Industry: A Case Study of Harrods Plc. Modul Code:MS6LB570 Rashel Alam UWL ID: 21394121 Word Count:6850 1
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TABLE OF CONTENT TABLE OF CONTENT2 CHAPTER 1: INTRODUCTION3 Introduction3 Background of research and company4 Aims and Objectives4 Research question5 Significance of research5 Structure of the report6 CHAPTER 2 LITERATURE REVIEW7 Trend of digital technology in UK retail sector7 Influence of digital technology especially social media marketing on operational activities as well as performance of retail companies in UK8 The challenges of digital technology adoption within the Harrold’s business operation10 Digital technology can best enhance the business performance of Harold’s.10 CHAPTER 3RESEARCHMETHODOLOGY12 Research Philosophy12 Research Approach12 Research Strategy13 Type of investigation13 Data collection methods13 Data analysis and findings14 Sample Size14 CHAPTER 4- DATA ANALYSIS AND DISUCSSION16 Introduction16 Data presentation and Interpretation16 Reflection and Recommendation for alternative research methodology27 CONCLUSION AND RECOMMENDATION27 Conclusion27 Recommendations28 Research Limitation29 2
REFERENCES31 APPENDIX32 Research Questionnaire32 3
CHAPTER 1: INTRODUCTION Introduction Digital technology has provided effective platform to business associations through which they can effectively improvise their business activities and performance within the retail industry. Adoption right technology helps business association in gaining competitive edge within the respective industry that is also beneficial in the enhancement of profitability (Ramanathan, Subramanian and Parrott, 2017). With reference to retail sector, it can be said that business enterprises belonging to this sector often make use of social media marketing strategy so that they can effectively influence interest of customers towards them and enhance their sales performance in rightful manner. Usage of social media also helps retail industry in effective marketing of their current offering along with the qualities of services. This directly supports them in spreading awareness about their products and services among customers which ultimately influences interest of customers towards making the purchase from the same company. Digital technology is developing emerging opportunities for the business enterprises as they are able to execute their work in more effective way which works as the positive factor for them. The present investigation is based on Harrods, a UK based departmental store that is located in Knightsbridge, London, England. The company was incorporated in the year 1849 and mainly offers high quality and luxury products to customers. The respective company is identified as the largest departmental store in Europe which has huge clientele that also offers them higher returns. The company is now focusing on enhancing their business performance as well profitability with the incorporation of digital technology especially social media marketing. In this regard, investigator have developed best suitable aims, objectives and research questions towards the same which are described in the below section. Background of research and company Harrods Plc is UK based Retail Company that is owned by Qatar Investment Authority. The company mainly operates department store situated in London which basically offers high quality products and luxury goods. It comes under one of the largest department stores of Europe that has more than 12000 workforce which manages work and other activities of departmentinappropriatemanner.Formanagingbusinessactivitiesoftherespective 4
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company its manager has decided to adopt digital technology in terms of social media marketing attract maximum number of customers towards them in effective manner(Tajvidi and Karami, 2017).Along with this, it can be said that usage of digital technology makes it easier for them to execute their operational activities in best feasible manner that ultimately helps them out in gaining competitive edge at marketplace. In this regardtop most authority of this company has emphasised on conducting investigation on the topic“To assess the impact of digital technologies on business activities and performance in the context of firms operating in retail sector” so that they can easily explore its benefits and possible drawbacks for Harrods Plc. This investigation will aware management team of the respective company to develop their understanding on the range of opportunities that could be attained by the respective company in quicker manner. Along with this, it will also support business manager of the Harrods Plc. about all associated consequences of social media marketing that could influence image of company among its customers. Development of negative imageat marketplace could influence its business performance in unsupportive manner that directly affects sales performance as well as sustainability at marketplace. Overall, this investigation will provide an overview to the Harrods Plc. As well as whole retail industry about digital technology and how its uses helps business enterprises in its growth as well as success. Aims and Objectives Research aim The research aim for the current study is “To assess the impact of digital technologies on business activities and performance in the context of firms operating in retail sector: A study on Harrods plc.” Research objectives To identify the trend of digital technology with regards to retail sector. To evaluate the influence of digital technology on Harrods business activities and performance. To investigate challenges associated with the adoption of digital technologies in relation to Harrods. To recommend effective digital technologies to Harrods that contribute in performance enhancement. 5
Research question What are the trends of digital technology in the retail sector? What influence does digital technology have on Harrods business activities and its performance? What challenges are associated with the adoption of digital technologies within Harrods? HowbestcanHarrodseffectivelyutilizedigitaltechnologyinenhancingits performance? Significance of research The proposed research project provides an overview to the Harrods as well as other retail companies about the digital technology and its relative benefits for them within the same industry. The study will also aware company about both the positive as well as negative aspect of digital technology especially social media marketing and its impact over the operational activities and performance of company (Ainin and et. al., 2015). Along with this, the study will provide opportunity to researcher to explore scope of the topic in retail industry and its expected influences on the them in the near future.In addition to this, this investigation will also develop knowledge of investigator benefits of digital technology that can be attained by business associations belonging to retail sector along with the certain specification limitations that can be faced by them while using social media marketing. It can be said that limitation of social media is seen in the form of creation of negative image of company at marketplace. Structure of the report This section is seen as the important part of research as it helps investigator in providing overview to readers about actual structure of the study that will going to be carried out by them while conducting the research in systematic manner. By developing effective and sequential structure it is easier for researcher to carry out each and every task of investigation according to their preset priorities. Structure of current study is described below in effective manner: Chapter 1: Introduction The first chapter of current research project is introductory section in which researcher emphasises on providing overall overview of research. This section consist of aims, objective, 6
questions of the research, background of company as well as research. After this, it provides basic significance and rationale of research that simply depicts that why this research have been conducted along with this main purpose (Lacka and Chong, 2016). The specific section gives an idea to reader actual reason behind conducting this research that helps them out in linking every section with one another at the time of their reading. Chapter 2: Literature Review Literature review is second chapter of the investigation in which researcher focuses on gathering information on the chosen topic from various secondary sources. These sources will be selected by researcher on the basis of their developed research questions and objectives. The main of this section is to develop knowledge of reader as well as investigator on chosen topic by gathering information from authenticate sources like books, journals and online articles. The specific section critically evaluates information presented by different authors so that effective understanding can be developed over the same. Chapter 3: Research Methodology It is the third most section of research in which investigator provides detailed information on several research methods, methodology like research philosophy, research approach, time horizon, data collection methods etc. which will be adopted by investigator for gathering information on the developed research objectives and analyse it in the same manner for attaining true and valid outcome on research problem in effective manner. Chapter 4: Findings and Data interpretation The fourth section of the current study is based on finding section. In this, investigator emphasises on analysing gathered data or information so that they can draw valid result over it (Braojos-Gomez, Benitez-Amado and Llorens-Montes, 2015). The particular section contains graphs, tables and figures which are used for describing overall findings smoother manner so that everyone can easily understand outcome of research problem. In this section, findings are drawn from the discussion developed on both the primary as well as secondary information. Chapter 5: Conclusion and recommendation 7
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Itisthelastsection,inwhichinvestigatordrawsconclusionandprovide recommendationto thecompany through which theycan improvise their performance effectively and taken measurable actions towards the same. In the conclusion zone, overall summary of the investigation is provided in the concluded manner so that reader can easily determine actual finding of research (Wang and Kim, 2017). It also provides them knowledge that whether they have attained outcome on the basis of their research outcome or not. CHAPTER 2 LITERATURE REVIEW Literature review is considered as the scholar paper that is mainly adopted by investigators for developing in depthknowledge on the particular topic in deeper manner. It mainly includes perception of different authors and writers over the single topic in order develop higher knowledge on the same topic in effective manner (Parveen, Jaafar and Ainin, 2015). With reference to the present study conducted on the topic “impact of digital technology on business performance and activities of Retail Company, investigator has made use of range of books, journals and articles in order to develop higher knowledge on the same topic in effective manner. Detailed literature review of this section is presented below: Trend of digital technology in UK retail sector On the basis of perception presented Rahman, J., (2019), digitization has completely modified face of overall retail industry and provided it an effective shape that is beneficial for them. Increasing digital savvy among customers have also influenced retail industry to acquire digitization in their business activities for leading the industry in rightful manner. Some of the maintrendsidentifiedintheretailindustryofUKaremobileapplications,payment applications based on mobile phones, location based marketing and personalization that are helpful for businesses in attracting maximum number of customers towards themselves, social media marketing, content based marketing, introduction of IoT in the retail industry and virtual reality (Odoom, Anning-Dorson and Acheampong, 2017). All of these trends are identified as main one in retail industry which have provided new platform to the whole industry as well as business associations working within it. It can be said that among all the stated trends, social media marketing is identified as the main one which have supported maximum number of retailers in executing all of their promotional activities with higher level 8
of return. For instance: Harrods Plc uses social media marketing for promoting its products and services among customers. The digital trend has allowed this company in interacting with maximum number of customers within UK and across the nation as well. With the passing time, the company become highly popular within UK and sales performance of this company has been increased in the rapid manner (Kumar and et. al., 2016). This have ultimately impacted positive even on the profitability of the respective company within less period of time. Influence of digital technology especially social media marketing on operational activities as well as performance of retail companies in UK According to the perception presented byKim and et. al., (2015), digital technology is seen as the effective concept that holds huge power to place impact over the whole business activities. This influence can be seen in both the positive as well as negative form. Business associations often takes several steps to use the available digital technology in rightful manner that ultimately provides them support in attracting maximum number of customers towards them (Chen and et. al., 2016). The main relationship between digital technology and increase in number of loyal customers is that business organizations are able to execute their work-related activities in efficient manner that ultimately influences interest of customers towards them in positive way. On the contrary, views expressed byJones, Borgman and Ulusoy, (2015) states that digital technology especially social media marketing also has its own limitations which ultimately places negative impact over the performance of the company belonging o retail industry. The main problem identified for retail sector companies developed from social media marketing is chances of leakage of confidential information of the company. It can be said that there are probable chances that business associations like Harrods Plc which make use of social media marketing in terms of promotional activities could become victim of cyberattack. This could lead to drastic issue for the company as the hackers could use the information in negative manner (Adegbuyi, Akinyele and Akinyele, 2015). Also, there are probablechancesthatthesehackersmightalsoapproachconfidentialinformationof customers which directly might bring them in trouble in the near future. In opinion ofKeinänen and Kuivalainen, (2015) it can be said that social media marketing is also helpful for business associations in development of effective global presence 9
at marketplace.This ultimatelysupportsbusinessassociationsin increasing theirsales performance in rightful manner. Along with this, it also provides opportunities to business association in taking feedback from their customers at regular basis which ultimately develops theirknowledgeontheissueswhicharefacedbycustomersatregularbasis(Felix, Rauschnabel and Hinsch, 2017). These feedback also aware company about their lack areas whicharerequiredtobemodifiedbythem.Thisimprovementwilldirectlyprovide opportunity to the company by which they can easily attain success in the near future. Apart from this another author named asMamic, (2017), has expressed that many of the people still believes in buying products and services of any company trying them at least one time. It can be said that if these explores social media before making the purchase then there are probable chances that they might even not try the same product in the near future. The main reason behind not trying these products is negative expression and comments of customers over particular products (Nudurupati, Tebboune and Hardman, 2016). It can be said that rumors spread on social media could develop negative image of company as well as its offering among customers which ultimately places negative impact over its sales performance as they are not making purchase from the same company. This directly becomes disadvantage for the company as they are not able to increase its number of loyal customers due to social media marketing. While on the other hand,Agnihotri and et. al., (2016), has argued that social media marketing is highly time-consuming activity which waste time of its operator. It can also be said that if these operators place the same time in other areas then it would have been more beneficiaryforthesamecompanyastheyareabletoworkaccordingtotheactual requirements of customers. This will directly provide higher level of profits to the same company as they are able to generate more revenue through direct marketing. The challenges of digital technology adoption within the Harrold’s business operation According to the perspective of Howard Tiersky, 2017, there are different types of challengesfacedbyanorganizationwhentheyimplementdigitaltechnologyattheir workplace. Due to these challenges their business operations as well as functions get impacted which also lead to decrease in profitability and market shares (5topchallengestodigitaltransformationin 10
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the enterprise, 2020). Challenges which can be faced by Harrold’s business is their resistance to change, according to this issue in an organization there are only 10 percent people who love chance and left are resist to change and they not prefer to change. So, this situation will take place in respective company when they adopt digital technology at their workplace. Next challenge which can be faced by Harrold’s business is lack of clear vision of management relatedtodigitalimplementationjourney,duetothischallengecompanynotableto understand vision or objective which impact on their decision-making process. Due to this challenge respective company not able to apply digital technology at their workplace this impacted on their performance and productivity(Galera‐Zarcoand et. al., 2020). Another challenge of related to implementation of digital technology is inflexible technology stack and development processes, according to this challenge Harrold’s business not able to adopt technology because their process is not flexible. This will also impact on their working procedure as well as it also decreases the effectiveness of company operations. So, it is essential for Harrold’s business management to understand these challenges and develop strategies to overcome it in effective as well as appropriate manner. Digital technology can best enhance the business performance of Harold’s. According to the article given on business Wales, 2020, it can be determined that there are several ways a company can use digital technology for enhancing their employees as well asbusinessperformance.Inrespectof Harold’sbusiness,theycanalsoadoptdigital technology platform in order to enhance their business and employee’s performance in effective manner. First strategy which they can adopt is connecting on the cloud because it will be easy for respective company employees to store their all data, information and documents in easy as well as safe form. It will also provide a common platform at which data are store and can be access by any authorized person this will make work of staffs easy as well as it also saves time (How to use Technology to Improve Employee Productivity,2020). Moreover, this digital technology will help in developing better connection, work collaboration and so on. Along with this respective company can also conduct video conferencing meeting with all employees who are located at different location by using digital technology. By adopting this technology or strategy respective company able to develop an effective connection with staffs which motivate them as well as it also cut the time wastage. So, by adopting both strategies 11
for implementing different digital technology respective company can enhance their as well as employee’s performance which help them in attaining their desire goal. 12
CHAPTER 3RESEARCHMETHODOLOGY It is the third chapter of research which helps the researcher in analyzing overall gathered data so that they can draw valid conclusion towards the same. The respective section is consisting of numerous of methods and techniques through which investigator can easily analyses whole data in such a manner which contributes in determining valuable outcome of the research problem. In context of present investigation, researcher has taken account of research onion which will simply specify how data will be gathered, what will be the proposed strategies adopted by researcher and specified areas. Research onion consists numerous of layers, the most important one among them are described as below: Research Philosophy Research Philosophy is referring to the way or belief through which knowledge over the research topic is developed. It basically starts with the assumption based on the past studies. Research philosophy are mainly of two types that is interpretivism and positivism. Interpretivism research philosophy simply means that information is gathered is mainly based on reality and real-life situation in order to draw valid outcome on research topic. Whereas, positivism research philosophy is mainly based on assumptions that are developed from previous studies. With reference to current study, investigator has chosen interpretivism research philosophy in order to develop their knowledge on qualitative data so that appropriate research outcome can be attained over research problem in rightful manner. Research Approach It is considered as plan as well as procedure which are consists of steps related to broad assumptionsthatprovidedetailedmethodsofthedatacollection,analysisaswellas interpretation(Moro Visconti, 2020). The research approach is generally based on the nature of research problems which being addressed in project. There are mainly three types of research approaches i.e. qualitative, quantities and mixed as well as its selection is based requirement of project manager. In respect of respective research project manager used mixed approach becauseresearcher uses both qualitativeas well as quantitative research approach. This is so because that will help them in gaining desire outcome of research. 13
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Research Strategy Itdefinesasanoverall planwhich is associatedto conductinginvestigationon a particulartopic.With the help of aresearch strategyit has been identified thata project managerwill effectively make aplan, executeandmonitorthewholeinvestigationwork inan effective manner andas a result this willassist them in order to achieve their targets and objectives in an effective manner(Maziriri, 2020).Some of the most effective research strategies whichcan be adopted by aresearcherincludesinterview,statistical methods, questionnaire andsoon. In reference to the present investigation,scholar adoptedtwo research strategies which are gathering datafromexistingpublished articlesand with the help of questionnaire.Thisis so becauseby collective information from this help in gathering authentic and accurate information related to the specific topic. Type of investigation Investigation in research is determined as tool which enables project manager to acquire or gather prior knowledge of the populations which are to be sampled(Khanand et. al., 2020). This is generally used to provide training to interviewers so that they can address each and every question in appropriate manner as through that project manager able to attain their desireresearchoutcome.Therearedifferenttypesofresearchinvestigationwhichis depending upon the types of project. In respect of this project investigation is based on the research topic which leads to attainment of desire goal as well as objectives successfully. Data collection methods It is considered as the method by which investigator gathers information on the research problem and its associated topic so that they can further develop their understanding over. This gathered information is later analyzed by investigator for attaining valuable outcome towards the research problem. Data collection methods are mainly of two types that primaryandsecondary.Primarydatacollectionmethodstatesthatresearchergathers information from chosen people by directly interacting with them. This can be effectively done with the usage of various sources like questionnaire, survey, interview, observation, focus group etc. On the contrary, secondary method of data collection mainly gathers information from the previous studies or past research. In this, the gathered information is not new as it is developed from the past studies. Main sources of secondary data collection 14
methods are books, journals, online articles, websites, magazine, newspapers and other published sources which are easily available for anyone who is planning to research in right manner. In the present study, investigator makes use of both the primary as well as secondary method of data collection in order to gathered desired information within the provided time frame. In primary method, questionnaire will be preferred by investigator which will include questions related to digital technology especially social media marketing. On the other hand, in secondary method of data collection, books, journals, online articles will be adopted by investigator to gathered desired information. Data analysis and findings Investigatorchoose differentmethodsas well as techniquesin order to analyze the collected information in an effective and detailed way. Generally,there aredifferent typesof methodswhich consist ofthematic&SPSS. Thematicrefers to the method which is used to examinequalitative dataon the other hands PSS tool isadopted toanalyzethequantitative data.Inthepresentresearch,thematicanalysisisadoptedbytheresearcherasthe investigation is on the basis ofqualitative research. Sample Size It is considered tool which help in measuring the numbers of individual which are gather through sample measure or observation as well as it will used for the survey or experiment. In respect of research, researcher selects sample size of respondents from which they will gather information about the topic. In respect of respective research, sample size is of 30 respondents from which researcher will gather information related to topic of research. 15
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CHAPTER 4- DATA ANALYSIS AND DISUCSSION Introduction This is the fourth chapter of investigation which shows overall data gathered from the primary sources. Here, interpretation of the gathered information has been stated in the simpler manner which ultimately contributes in drawing valid outcome towards the research problem. Data presentation and Interpretation Theme 1: Concept of digital technology Q 1) Are you aware with the concept of digital technology?Frequency a) Yes25 b) No5 Interpretation:On the basis of above described graph, it is interpreted that 25 respondents from the total of 30 have expressed that they are aware with the concept of digital technology as they have worked with the same concept in the past. On the contrary, other 5 respondents from the same sample size has expressed that they are not aware with the similar 17 25 5 a) Yes b) No
concept as it is the very first time in which they are using this technology in order to improve and simplifying their current performance. 18
Theme 2: Implementation of social media marketing in Harrods Plc will influence its business performance Q 2) Do you think, implementation of social media marketing in Harrods Plc will influence its business performance? Frequency a) Yes18 b) No12 Interpretation:Asper theabove describedpiechart,it canbe said that18 respondents believes that implementation of social media marketing will place influence over the business performance of Harrods Plc. These people have also expressed that directly or indirectly social media marketing promotes products and services among customers which ultimately places influence over the performance of company. Whereas, leftover 12 people said that it is not true because according to the traditional promotional methods like direct marketing were more effective in comparison of social media marketing. 19 18 12 a) Yes b) No
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Theme 3: Main benefits associated with social media marketing that will be obtained by Harrods Plc Q 3) As per your perception, What are the main benefits associated with social media marketing that will be obtained by Harrods Plc? Frequency a) Increase in sales performance10 b) Increase in profitability10 c) More number of loyal customers10 Interpretation:There are various sort of benefits associated to the social media marketing which will be attained by businesses like Harrods Plc. As per the mentioned graph, it can be said that 10 respondents believes that main benefit is increase in sales performance, other 10 have expressed that major benefit is increasing profitability of company whereas the leftover proportion that is 10 respondents have expressed that it simply increases more number of loyal customer for the company. From this, it can be said that benefits associated to social media marketing are equally weighted thus it is concluded that all of them are equally important. 20 10 10 10 a) Increase in sales performance b) Increase in profitability c) More number of loyal customers
Theme 4: Main challenges that will be faced by Harrods Plc at the time of using social media marketing Q 4) What are main challenges that will be faced by Harrods Plc at the time of using social media marketing? Frequency a) Higher chances rumours18 b) Creation of negative image among customers6 c) Leakage of confidential information of company as well as client6 Interpretation:Accordingtoabovementionedgraph,itcanbesaidthat implementation of social media marketing activities is consist of different challenges. It has been analysed that 18 people thinks that rumours are major challenges, other 6 believes that it could develop negative image of company in front of customers which directly hampers their sales performance. On the other hand, the other 6 people have expressed that leakage of confidential information of customer as well as company is considered as the main challenge for Harrod plc that is associated with the implementation of social media marketing. 21 186 6 a) Higher chances rumours b) Creation of negative image among customers c) Leakage of confidential information of company as well as client
Theme 5: Social media marketing places influence over the performance of Harrods Plc Q 5) In what manner, social media marketing places influence over the performance of Harrods Plc? Frequency a) Positive manner28 b) Negative manner2 Interpretation: Influenceof social media marketing can be seen in both the positive and negative manner on the performance of Harrods plc. From the above expressed graph, it can be said that from the total of 30 respondents 28 people have expressed that its influence could be seen in positive manner on the respective company whereas other 2 respondents have thinks that its influence is negative because there are probable chances that customers might perceive marketing and promotional activities in negative manner. 22 28 2 a) Positive manner b) Negative manner
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Theme 6: Main resources that will be required by manager of Harrods Plc while implementing social media marketing Q 6) What are the main resources that will be required by manager of Harrods Plc while implementing social media marketing? Frequency a) Human resource10 b) Technological resources12 c) Financial resources8 Interpretation:Implementation of any new technology within the company requires variety of resources that directly contributes in the effective execution of the work in rightful manner. According to the above expressed graph, it can be said that 10 respondents have expressed that human resources are the main one who will be required for implementing social media marketing. On the other hand, 12 among 30 have expressed that technological resources are the main among all. At last, the leftover 8 people believes that financial resourcesarethemajoronethatwillberequiredbymanagerofHarrodsPlcwhile implementing social media marketing. 23 10 12 8 a) Human resource b) Technological resources c) Financial resources
Theme 7: Adoption of social media marketing is considered as an expensive process Q 7) Does adoption of social media marketing is considered as an expensive process? Frequency a) Agree16 b) Disagree14 Interpretation:Implementation of social media will require adequate of amount of money at the time of its implementation within the company. From the above described graph, it can be said that total number of 16 people believes that social media marketing is an expensive process that requires huge amount of money for its implementation within the Harrods Plc. On the other hand, the leftover 14 people have disagreed to the same statement as according to them it is not an expensive process as amount used in this is less as compared to other methods of marketing. 24 16 14a) Agree b) Disagree
Theme 8: Social media marketing requires training program for the employees who operate it in near future Q 8) According to your viewpoint, doessocialmedia marketing requires training program for the employees who operate it in near future? Frequency a) Agree26 b) Disagree4 Interpretation:On the basis of above expressed pie chart, it can be said that 26 people believes that social media marketing requires training program for the employees who will use this in the future. Other 4 people have declined as they believes it is the simplest method of marketing that does not requires any sort of training as employees can easily adopt it with simple one or two time instructions. 25 26 4 a) Agree b) Disagree
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Theme 9: Social media marketing helps Harrods Plc in gaining competitive edge in effective manner Q 9) Does social media marketing helps Harrods Plc in gaining competitive edge in effective manner? Frequency a) Yes18 b) No12 Interpretation:Adoption of social media marketing allows business associations like Harrods Plc in attaining competitive edge. As per the pie graph, 18 people have expressed that yes it supports in gaining competitive edge. Whereas other 12 have denied to the same because according to them the same type of digital technology is used by rival companies too which provides equivalent opportunities to all. This states that there are less chances that Harrods Plc will gain competitive edge. 26 18 12 a) Yes b) No
Theme 10: Forms of digital technology that could be adopted by Harrods Plc for improving its operational activities Q 10) As per your thoughts, what are the other forms of digital technology that could be adopted by Harrods Plc for improving its operational activities? Frequency a) Internet of Things10 b) Artificial Intelligence10 c) Cloud Computing10 Interpretation:As per the above-mentioned graph, it can be said that digital technology has numerous of forms that supports them in improving its operational activities in effective manner. The stated graph, expresses that 10 people believes Internet of Things is other effective form of digital technology that is supportive in improving its operational activities. Other, 10 have expressed that Artificial intelligence is another effective form of digital technology that could improve operational activity of the company. And the leftover another 10 respondents have expressed that cloud computing is the other forms of digital technology that could be adopted by Harrods Plc for improving its operational activities. 27 10 10 10 a) Internet of Things b) Artificial Intelligence c) Cloud Computing
Reflection and Recommendation for alternative research methodology Reflection While Iwasdoing this research, it has been identified by me thatthere are various factors which affect the overall result of the business organisation.The present research is on the topic“To assess the impact of digital technologies on business activities and performance in the context of firms operating in retail sector: A study on Harrods plc.”Withthehelpof this research, In order to increase my knowledge about digital technology as well as its influence among retailing business entity. At first when I was conducting this research, it is identified by me that various sort of problems and issues are there which has been faced by me when i was conducting this research. Due to lack of confidence and communication skills, I unable to conclude the result in an appropriate and effective manner. In addition to this, while doing this investigation i need to interact with respondents so that effective and appropriate information will be gathered by me so that positive outcome will be produced. But because of my low confidence level and introvert nature I become nervous while interacting which influences the overall result of the investigation. Therefore, according to me it is quite difficult as well as complex element of the whole research which might affect the whole outcome in both positive and negative way. On the other hand,behaviouras well as attitudeofparticipantshighly influence the outcome of whole research as their information are the key to produce positive outcomes. CONCLUSION AND RECOMMENDATION Conclusion From the above report it has been concluded that for an organisation it is very much potential to plan for the talent management within the organisation by considering the various aspects in the mind so that potential kind of outcomes should be achieved. To secure one of best candidates it is obligatory to select one of best tool and technique by which organisation can achieve one of best place in the market place. It is evaluated that for securing best outcomes it is essential to conduct through research and development by using various kinds of tools that provide validate knowledge to people. Respective activities directly contribute in decision making process of organisation in potential manner. with the help of primary tools and 28
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techniques organisation ca be able to collect necessary knowledge and information that is very much rare in nature. With the help of recommendations organisation can be able to build strategies and tactics in order to improve the results in potential manner. it has been observed that validate information is very important for organisation to gain desirable outcomes. Recommendations It has been recommended that for an organisation it is very much potential to procure one of best candidates for gaining the desirable outcomes from them. For achieving the best candidates, it is crucial for an organisation to evaluate their selection process that should be very much competitive. As process directly contributes in enhancing the motivation and level of productivity of employees so that they can contribute one of their best efforts. It has been recommended that organisation need to use one of best tools and techniques that are advance in nature and helps to procure one of best sources of information. In that regards it is essential toconductproperresearchanddevelopmentthatprovidesadequateknowledgeand information for selecting one of best candidates within the organisation for gaining desirable results in potential manner. Before occurring one of best candidates it is essential to organisation to analyze various aspects such as competitors of the organisation and their strategies to select candidates within the organisation. The selection process of candidates shouldbebuiltbyconsideringthefuturerequirementsanddeliverablesthatdirectly contributes in organisational development and enhancement. As it has been observed that by conducting proper research organisation can be able to validate knowledge and information on various subject matters in order to accumulate necessary potentials in positive manner. it is recommended that organisation need to collect the potential information with help of job description and specification that provides detailed information regarding right kind of choice of candidates and helps to select one of best out of it. In that regards it has been evaluated that it is one of most important process of organisation by which they can competitively advantage and sustainability in the market place by securing the distinctive place in the market potentially. Hence, it is obligatory for organisation to take recommendation from the people and other businesses to remain competitive in marketplace. 29
Research Limitation The main limitation of this investigation was the limited period of time for this investigation. This have influenced investigator to make use of questionnaire method as it was supportive in gathering maximum primary information from the respondents. Even though the method was good but still it has not provided appropriate opportunity to each respondents to convey their information as it includes only close ended. Apart from this, if investigator has more time then they could haveincluded interviewmethodwhich’smore appropriate, suitable as well asusefulmethods it includes open ended questions and allows respondents to express their information an effective manner. 30
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Q 3) As per your perception, what are the main benefits associated with social media marketing that will be obtained by Harrods Plc? a) Increase in sales performance b) Increase in profitability c) More number of loyal customers Q 4) What are main challenges that will be faced by Harrods Plc at the time of using social media marketing? a) Higher chances rumours b) Creation of negative image among customers c) Leakage of confidential information of company as well as client Q 5) In what manner, social media marketing places influence over the performance of Harrods Plc? a) Positive manner b) Negative manner Q 6) What are the main resources that will be required by manager of Harrods Plc while implementing social media marketing? a) Human resource b) Technological resources c) Financial resources Q 7) Does adoption of social media marketing is considered as an expensive process? a) Agree b) Disagree Q 8) According to your viewpoint, does social media marketing requires training program for the employees who operate it in near future? a) Agree b) Disagree 33
Q 9) Does social media marketing helps Harrods Plc in gaining competitive edge in effective manner? a) Yes b) No Q 10) As per your thoughts, what are the other forms of digital technology that could be adopted by Harrods Plc for improving its operational activities? a) Internet of Things b) Artificial Intelligence c) Cloud Computing Q 11) Provide recommendation to the manager of Harrods Plc through which they can easily improve their business performance as well as operational activities with the usage of social media marketing. QUESTIONNAIRE Q 1) Are you aware with the concept of digital technology?Frequency a) Yes25 b) No5 Q 2) Do you think, implementation of social media marketing in Harrods Plc will influence its business performance? Frequency a) Yes18 b) No12 Q 3) As per your perception, what are the main benefits associated with social media marketing that will be obtained by Harrods Plc? Frequency a) Increase in sales performance10 b) Increase in profitability10 34
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c) More number of loyal customers10 Q 4) What are main challenges that will be faced by Harrods Plc at the time of using social media marketing? Frequency a) Higher chances rumours18 b) Creation of negative image among customers6 c) Leakage of confidential information of company as well as client6 Q 5) In what manner, social media marketing places influence over the performance of Harrods Plc? Frequency a) Positive manner28 b) Negative manner2 Q 6) What are the main resources that will be required by manager of Harrods Plc while implementing social media marketing? Frequency a) Human resource10 b) Technological resources12 c) Financial resources8 Q 7) Does adoption of social media marketing is considered as an expensive process? Frequency a) Agree16 b) Disagree14 Q 8) According to your viewpoint, doessocialmedia marketing requires training program for the employees who operate it in near future? Frequency a) Agree26 b) Disagree4 Q 9) Does social media marketing helps Harrods Plc in gaining competitive edge in effective manner? Frequency 35
a) Yes18 b) No12 Q 10) As per your thoughts, what are the other forms of digital technology that could be adopted by Harrods Plc for improving its operational activities? Frequency a) Internet of Things10 b) Artificial Intelligence10 c) Cloud Computing10 36