Impact of Digital Technology of Business Assignment
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Added on 2021-01-03
Impact of Digital Technology of Business Assignment
Added on 2021-01-03
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The impact of Digital technology of Business Activity
Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4P 1 Aims and objectives of an investigation procedure..............................................................4P 2 Project management plan ....................................................................................................5P 3 Gantt chart and work break down structure.........................................................................8Lo 2 .................................................................................................................................................9P 4 Methods to be utilised in investigation ...............................................................................9LO 3 ..............................................................................................................................................13P5. Analysis of information......................................................................................................13P 6 Communicating appropriate recommendation ..................................................................17LO 4 ..............................................................................................................................................18P7 Reflection ............................................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTION The growth of digital technology has bought major changes in the way of doingbusiness. It has supported an enterprise in bringing the improvement in activities , proceduresand system. Development in digital technology has changed the way accounts were recordedand maintained by the finance department in an organisation. It has supported Finance managerin developing the effective accounting management system. Digital technology has providedbusiness entity an ease in recording the routine business Transactions. It has helped anenterprise in reducing the paper work. Digital technology has provided finance manager an easein keeping the track of all the financial transaction and monitors the business performance. It hasassisted an enterprise in controlling the cash flows.One of the biggest applications is the enhancement of business intelligence through theuse of social technologies and data analytics. Digital technology like business intelligencesystem assist finance manager in monitoring the revenue earned by firm during specificfinancial year. It also provides finance manager an ease in making comparison between pastand present performance of company. Utilisation of digital technology has impact on the actionsof investors and others is pretty evident. Digital technology also provide manager an ease inmaking suitable investment and other Financial decision. It also supports an organisation inimproving financial performance. Digital technology is proved beneficial as well as well asuseful for those big organisation who have large turnover and facilitates many businesstransaction on daily basis. It has supported an enterprise in increasing the business efficiency aswell as effectiveness of accounting system.The purpose of the research is to analyse the impact of digital technology on theaccoutring activity in an organisation - A case scenario of Tesco organisation.TASK 1P 1 Aims and objectives of an investigation procedureAim- To analyse the impact of digitalisation on the accounting activity within an enterprise- Acase study of Tesco organisation.Objectives -To analyse the effect of emergence of digital technology on the accounting system ofTesco company.To develop the understanding about the accounting system and digitalisation.
To explore the way digital technology has assisted business entity in bringingimprovement in accounting system.To identify the benefits of utilising the digital or business intelligence system inaccounting .To increase sales by 10 percent within 6 months.To reduce the costs or other expenses by 5 percent within 3 months.To recommend the strategies which can be used by Tesco company for increasing theeffectiveness of accounting system.P 2 Project management plan The project management plan consists of detail information about the several activitieswhich will executed by researcher during the investigation procedure. The purpose of developingthe Project management is to execute research activity in smooth manner. Project managementplan is considered to be as an effective plan which assist scholar in identifying the obstacleswhich might occur in facilitating or conducting the investigation process. It also helps researcherin analysing the risk which are associated with executing the survey on specific topic. Theproject management plan also includes the detail information about the communicationtechniques or methods which will be used by scholar for interacting with other people during theprocedure (Eagleman, 2013). It also covers the strategies or techniques which will beimplemented by researcher for maintain the quality of work. Project management also involvesTime schedule according to which all the tasks will be executed during the survey. It helpsresearcher in eliminating the barriers. Project management also supports the researcher indevelopment of effective tactics as well as strategies which can be used by scholar for managingrisk or dealing with uncertain situation during the investigation process. It also enablesResearcher to ensure successful completion of research project.Costs- The expenses are directly associated with the executing the several activitiesduring the survey. The major cost is generally associated with making arrangement forfacilitating interview for collecting the information from the respondents. The changes in theeconomic factors has great influence on the cost factor in project management plan. In context ofthe investigation process , cost might be incurred in designing of the procedure or system whichmight not be effective. Some expenses might be fixed , variable or directly associated with the
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