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The impact of Digital Technology on Business Activity of SME’s
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Added on 2020-10-23
The impact of Digital Technology on Business Activity of SME’s
Added on 2020-10-23
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RESEARCH PROPOSAL
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 ...........................................................................................................................................1P2 ...........................................................................................................................................6TASK 2............................................................................................................................................7P3 ...........................................................................................................................................7P4 .........................................................................................................................................11TASK 3..........................................................................................................................................19P5 .........................................................................................................................................19TASK 4..........................................................................................................................................20P6 .........................................................................................................................................20P7 .........................................................................................................................................21REFERENCES..............................................................................................................................22
TITLE: “The impact of digital technology on business activity of SME’s INTRODUCTIONDigital technology involve several techniques as well as methods which utilize forgathering required information and data in the form of numerical code. Implementation of digitalplatform aids in proper management of data and information by applying various techniqueswithin appropriate manner. Company have to implement advance technology but after identifystructure, capabilities and size of staff members. Information technology is a wide level platformwhich involve computing, hardware, software servicing, app development practices, webhosting and so on.In this procedure, cloud technology, artificial intelligence, social media,mobile technology and several other services give effective contribution for managingorganizational services properly in proper manner (Trainor and et. al., 2014). This report is basedon Oak Cash and Carry which is an small scale organization that deals in wholesale services.Company is adopting social media technology with the motive of promoting product andservices at global level in easy manner.With the help of social media respective firm build theirdirect connection with customers as well as create effective marketing and promotionalactivities. There are some major benefits of implementing digital technology in working is thatmuch funds are not require because it is cost effective as well as impact full tool which help ingenerating maximum revenue with minimum cost. TASK 1P1 Digital technology is the tool and techniques which play important role withinorganizations as well as assist is easy doing work. With the assistance of respective technologyit become easy for organizations to store their high amount data effective, do marketing throughdigital tools and maintain direct relation with customers.There are several benefits of digitaltechnology while implementing it in the company such as company can do marketing of theirgood and services through digital tool like social media, Facebook, Twitter and so on. Alongwith this, throughdigital technology, firm can directly communicate with their customers,resolve their queries as well as fulfill their need and demand in effective manner. Moreover, withthe assistance of digital technology organization interact with customers in easy manner as wellas promote their their offerings at globe level.The same digital tool will allow access to the1
large market which assist company in doing comparison of their price with other competitorscost (Labrecque, 2014). Social media is the digital technology which is used by company forenhancing business at large scale.Respective technology help in smooth running of business forgenerating high revenue and profitability.Through social media tools organization can buildtheir direct contact with domestic and international customers in effective manner. Along with allthese social media tool such as Twitter, Instagram, Facebook and so on help in generating brandawareness among existing and potential customers. As well it also result in increasing sales andgenerating revenue.Along with this, it will aid in building trust as well as customer loyaltywithin effectual way in relation to company products or services. Background of researchSocial media is the digital tool which help organization in providing information relatedto company as well as their offering to customers in effective manner. In the present competitiveera, each and every organization is using social media tool for promoting their goods andservices at large level directly to existing and potential customers. Oak Cash and Carry is a smallscale company which offering wholesale services to customers.For maximize business structurerespective company wants to implement new technology in their working which will assist inenhnacing daily basis business operations. Along with this, also assist in profit maximization,business growth as well as sales (Tsimonis and Dimitriadis, 2014). Therefore, same organizationrequire to apply social media technology in their working because it result in building directrelation with customers at international level. Through social media practices Oak cash andcarry can gain customers loyalty because they can resolve queries of buyers within minimumtime as well as directly contact with them that result in positively. In this procedure,companyalso gain maximum attention of customers due to their aggressiveness of getting knowledgeabout particular goods and services. There can be several advantages of social media technologyas it is one only cost effective techniques which utilize for promotional as well as marketingpractices. For a small scale company like Oak cash and carry it could be state beneficial groundsfor their further development procedure. Aims and objectives:“To determine the importance of social media in building relationship with customers atglobal platform. A case study on Oak Cash and Carry. Research objective 2
To determine the concept of social media.To identify the significance of social media for enhancing business growth.To analyze the major challenges of implementing social media in small businessenterprises.To determine the effectiveness of social media in building long term relationship withcustomers. Research question What is the concept of social media ?What is the importance of social media in the terms of business growth.What are the major challenges a small business enterprise face while implementingsocial media techniques ? What is the effectiveness of social media in building long term relationship withcustomers. Literature review is the crucial section of research because it help in providing detailinformation related to the topic by utilizing critical analysis approach.By examining all theseperspectives, company evaluate several basis as well as associated studies which are formed byscholars. Below mention are discussed opinion of authors and scholar in relation of social mediaare as follows :- The concept of social mediaAs per the views of Keran smith (2017), social media is the digital technology whichutilize for growth of organization as well as customer satisfactions. Social media platform isgrowing rapidly from last few years and play important role in company.With the assistance ofdigital tools company can gain several advantages within required time duration. Social media isthe digital platforms which help in promoting brand image, offerings of product and servicesamong customers in effective manner.Social media is the best tool for doing marketing ofproducts and services as well as also help indirect interaction with customers.Concept related tosocial media change the entire method of digital marketing by its emergence overall procedurebecome much easy.Although, most of the organization use social media as an marketing tool forattracting large number of customers. Moreover, it will be beneficial tool for small scaleorganization. 3
Social media is an effective platform to promote a business and reach out towards thepotential customers. Social media websites are used to easily accessible that's why it developsinterest of people in products and services that are provided by company. The concept of social media has been identify as unique and creative because on thiscustomer can sort information and update on the basis of their required need. After this, thesewebsites only provides information to those customers who wants to get connected with them.These concepts are beneficial for those user who are familiar with specific organisation. Mainreason behind these activities is to motivate customers buying behavior by providing themcreative services of specific organisation. The importance of social media in the terms of business growthAccording to Vijay Sharma (2017), social media play crucial role in the organisation fordoing marketing as well as other promotional activities for company. With the assistance ofsocial media practices, Oak Cash and Carry can promote their offerings directing withinmarketing to their customers.Moreover, by applying digital tools within business practices ancompany can build direct relation with their customers at global level.Respective practices aidsto enhancing sales of organisation and growth in effectual manner.Although, marketing is aessential part of a Oak Cash and Carry firm which help in getting regular customers on thebusiness website. Through this, they can adopt maximum and detailed information oforganisational services on the basis of their own desire and requirement. Oak cash and carry canadopt social media marketing because it is a creative and innovative way that helps in findingnew customers in lower cost.For a business organisation, these platform can be most beneficial because through thisOak cash and carry can build direct connection with international users who can be interested inorganisation's services. Sometimes, these media services provide detailed information tocustomers and make them influenced toward the purchasing of new products. One mostbeneficial aspect of social media is that international customers can order their choice ofproducts on organisation's website and if it is possible than firm can deliver them to customerseasily. These activities assist in building long term relations between organisation and customerseffectively.Challenges which a small business enterprise faces while implementing social media techniques4
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