Small Business Growth and Innovation - Assignment

Added on - 21 Jul 2020

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ManagingSuccessfulBusiness
TABLE OF CONTENTSTASK 1............................................................................................................................................1P1 Project aim and objectives for NISA Retailers.......................................................................1P2 Project management plan.......................................................................................................2P3 WBS and Gantt Chart.............................................................................................................4TASK 2............................................................................................................................................7P4 Small scale research by applying qualitative research method..............................................7TASK 3..........................................................................................................................................13P5: Analysis of data using appropriate tool and techniques......................................................13P6 Recommendation..................................................................................................................16TASK 4..........................................................................................................................................16P7 Reflection on the value of undertaking the research to meet the objective..........................16REFERENCES..............................................................................................................................18APPENDIX....................................................................................................................................20Questionnaire.............................................................................................................................20
TASK 1P1 Project aim and objectives for NISA RetailersTitle of the research-“The impact of digital technology supporting small business growthand innovation”.Background of the studyDigital technologies are nowadays at a higher pace of development where it directlyindicates the fulfilment of one’s present day needs and demands. It is basically onconsidering the fact where today’s contemporary era has in turn emerged modernised set ofconsumers. It has in turn created a prompt necessity of applying such up-to-date tools andtechniques by the businesses to effectively serve the customers (Autio and et. Al., 2014). Thiswill not only satisfy the modern-day requirements of the customers but will together providean opportunity to the firms for becoming a significant part of evolution. The current study isbased on addressing such considerations of small to medium scale business organisations. Itis where they are often required to compete with the giant size businesses that are alreadyexistent in the market.The present research has intended to explore the influence of digital technology andits use in supporting the growth of small size businesses by together giving them a chance tooperate in accordance to today’s contemporary market environment. This will in turn resultinto a sustainable growth of the business with certain progressive measures to be taken up forthe welfare of both the company and its targeted set of audiences (McDonald and Jones,2012). This way, the small to medium size entities (SME’s) are together expected to generatehigher level of profits in terms of satisfying the concerning demands of their associatedstakeholders. It is with a special context of fulfilling the requisition of shareholders as well asinvestors who are apparently assisting the entities in terms of funding. The current researchwork has reflected such vital considerations of retail based establishments operating in theretail industrial sector of UK. For which, a well-known small-scale retail enterprise namedNISA has been taken into consideration.Aims and Objectives:This section is important in terms of defining the overall considerationof this undertaken study and on whose basis; it has been conducted by the investigator. It isproven to give a defined format of research to be carried on with a suitable accomplishmentof its intended outcomes at the end.1
Aim-A prior aim of this research is “To examine the influence of digital technology insupporting the growth and innovative context of small business organisations operating in theretail sector of UK- A study on NISA retailers”.Objectives-It is on the basis of above intended goals where the investigator is togetherrequired to focus upon some below formulated objectives to carry out a guiding study. Theseresearch objectives are-To analyse the importance of digital technologies in developing small scalebusinesses.To determine the impact of incorporating digital technologies onto the business andits growth.To ascertain the way in which digital technologies lead to succour an inventiveprogress of the businesses operating in the retail industry of UK.To recommend ways in which NISA can undertake effective strategies of digitaltechnologies for a rising growth of its business.Research question:It is on the basis of above framed aims and objectives, below specifiedare the questions to be addressed by the researcher for a timely achievement of its intendedpurpose.Why it is important for the small size businesses to incorporate with digitaltechnologies?How the utilization of digital technologies in small scale businesses can lead to itsgrowth and development?In what way, application of digital technologies can assist the SME’s to incorporateinventive measures in their business-related activities?P2 Project management planThis is to discourse upon some major aspects of study that are required to be consideredby the researcher at the time of investigating a selected subject matter. It is mainly onreferring to the things required to be considered while framing a project plan for its efficientmanagement. This includes some below defined factors, discussed as-Cost-This is on discussing upon a foremost consideration of the researcher toinvestigate with efficient monetary resources so as to manage the expenses oftravelling, communicating, printing and other research related expenditures.Scope-It is to demonstrate the range of this study that will help investigating theusefulness of digital technologies in benefiting today’s contemporary businesses2
(Sarigiannidis and Chatzoglou, 2014). It is with a special context of small scaleorganisations operating in the retail industry of UK with a factual reference to NISARetailers. Although, this in turn is apparent to benefit other small-scale establishmentsoperating in a similar sector of UK by together benefiting the small size firms,operating in other likely sectors. Such specific selection of retail industrial sector hasbeen made on considering the ongoing state of competition in UK market.Time-A total time period of 12 weeks, within which, this study is required to becompleted.Quality-Quality assurance parameters have together been used by ensuring to carryout a valid and reliable set of study (Browning, 2014). This has been done byconsidering the aspects of validity reliability in this research work.Communication-A prior communication has been done by the investigator with thatto the participants as well as other related bodies to take their consent beforeinvolving them into the study with a purpose of utilizing their contributed ideas.Risk-Any risk pertaining to the study has been taken care of (Issa and Kogan, 2014).It is with a foremost concern of avoiding any instance of project failure orrequirement of raised budget and time.Resources-Time and budget have been depicted as the 2 leading resourcescontributed in the study with another leading resource of people who have willinglyparticipated in this research work.3
P3 WBS and Gantt ChartFigure1: Project Plan4
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