The Impact of Digital Technology Supporting Small Business Growth and Innovation

THE IMPACT OF DIGITAL TECHNOLOGY SUPPORTING
SMALL BUSINESS GROWTH AND INNOVATION

Table of Contents
Introduction......................................................................................................................................2
Task 1...............................................................................................................................................3
LO 1 (project aims, objectives and timeframes)..............................................................................3
P1. Project aims and objectives.......................................................................................................3
P2. Project management plan that covers aspects of cost, scope, time, quality, communication,
risk and resources............................................................................................................................3
P3. Work breakdown structure and a Gantt chart to provide timeframes and stages for
completion.......................................................................................................................................5
Task 2...............................................................................................................................................7
LO2 Conduct small- scale research, information gathering and data collection.............................7
P4- Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives for the chosen scenario.................................7
Task 3.............................................................................................................................................12
LO3 Present the project and communicate appropriate recommendations based on meaningful
conclusions drawn from the evidence findings and /or analysis...................................................12
P5 – Analyze research and data using appropriate tools and techniques for the chosen project...12
P6 – Communicating appropriate recommendation as a result of research and data analysis to
draw valid and meaningful conclusions for the chosen project.....................................................13
Task 4.............................................................................................................................................14
LO4 Reflect on the value gained from conducting the project and its usefulness to support
sustainable organizational performance for the chosen project.....................................................14
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning
and performance............................................................................................................................14
Conclusion:....................................................................................................................................15
References......................................................................................................................................16
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Introduction
Any small size business faces multiple barriers in terms of organization growth. As a result most
of the time small business decides a target which is not sufficient for the business growth.
Management of small business considers this business strategy as low risk strategy for business.
There are certain elements which help any organization with rapid growth, considering the era of
globalization. Technology in small business is one such element which helps with business
growth. Further with the help of technology organization can implement innovation in business
in terms of product line. Implementing technology in small sized business help to establish a
position in the market, however need certain measures to avoid any project failure. For instance,
before implementing technology in business organization needs to prepare a project plan and
train employees for the best result. This report highlights impacts of technology in business
growth and innovation of Small and medium sized enterprise.
Page 2 of 17

Task 1
LO 1 (project aims, objectives and timeframes)
P1. Project aims and objectives
This project aims to provide an in depth understanding of different impact of digital
technology supporting the small business growth and innovation.
Objectives of this project are as follows:
● To evaluate the use of technology in small business
● To analyze the impact of technology in small business supporting growth and
innovation
● To discuss the implementation process of technology in small business
P2. Project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources
A project management plan has three different aspects which includes Scope of the project,
resources and cost, which is essential for developing the project and schedule. These are three
elements which are fixed for the project development. The below table is a project management
plan which is being developed for the better growth of an organization.
Scope Cost Time Quality communica
tion
Risk Resources
This
project will
help to
enhance
the
competitive
The total
cost of the
project will
be £
1500.00. It
includes
Total 4
months
time is
required
for
completing
The quality
of the
project is
expected to
be medium.
High
Communic
ation will
be done
over phone
and
through
There are
two major
risks
associated
with the
project.
15
employees
along with
a project
manager
and one
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