The Impact of Digital Technology on Small Business Growth and Innovation: A Case Study on Continental Context
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Added on 2020-10-22
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UNIT 6 MSBP INTRODUCTION 1 TASK 11 P1Project aims and objectives 1 P2Project management plan 2 P3Work break down structure and Gantt chart 5 TASK 27 P4 Small scale research by applying qualitative and qualitative research method7 TASK 310 P5Reseserach and data analysis 10 P6Recommendation 18 TASK 419 P7Appendix 19 CONCLUSION 20 REFERNCES21 Title: The impact of digital technology supporting small business growth and innovation- A Case study on Continental
The Impact of Digital Technology on Small Business Growth and Innovation: A Case Study on Continental Context
Added on 2020-10-22
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UNIT 6 MSBP
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1Project aims and objectives................................................................................................1P2Project management plan...................................................................................................2P3Work break down structure and Gantt chart......................................................................5TASK 2............................................................................................................................................7P4 Small scale research by applying qualitative and qualitative research method................7TASK 3..........................................................................................................................................10P5Reseserach and data analysis............................................................................................10P6Recommendation..............................................................................................................18TASK 4..........................................................................................................................................19P7Reflection.........................................................................................................................19CONCLUSION..............................................................................................................................20REFERNCES.................................................................................................................................21
Title:The impact of digital technology supporting small business growth and innovation- ACase study on Continental consulting Ltd.INTRODUCTIONManaging a successful business project is considered to be one of the crucial parts ofmanagement as it is defined as the combination of techniques, skills and knowledge which arebeing used to achieve management aims and objectives within time schedule. The success ofany project depends upon the project manager as it is the responsibility of the project manager toallocate the tasks and instruction to the employees which are needed to be accomplished on time(Binder, 2016). The company which is being considered to carry out this assignment isContinental Consulting Limited which is a research and business consultancy headed by MarioBindas. On 31st may 2018 Mario called upon a section in which a research aim were decides onwhich the project plan is based and that to identify the impact of digital technology supportingsmall business growth and innovation. This report will focus on background of project, purposeof report, aims and objectives of project along with project management plan in which certainaspect like cost, time, quality, budget are being explained. Moreover work break down structureand Gantt chart are also being prepared in this file. Apart from this small scale research is beingcarried out with the help of qualitative and quantitative research method as well as data andresearch analysis is also being done. Lastly a recommendation and reflection has also beinggiven in this report.TASK 1P1Project aims and objectivesBackground of the project:Continental consulting Ltd is a UK based organisation which is specialised in supportingmedium and small business manufacturing enterprises so as to re-engineer their organisationprocess in order to achieve high profitability and sustainability. It nearly render its services allaround the London and was established eight years ago by bringing up latest technologyequipments, IT facilities etc. But as the time passed rapid innovation took place in IT sector andthe technology which was brought upon by Mario Bindas eight year ago became outdated(Davies and Hughes, 2014). Even the company felt that the organisation is being lost to1
competitors in the industry but still the firm did not make any changes to upgrade their businessprocess and thus which is proved to be the key weakness as many other new organisation havecome up with innovative ideas and are successfully capturing the market. Thus, taking suchaspect into consideration Mario Bindas hold a meeting on 31st mat 2018 in which the researchaim were decided that is to analyse the impact of of digital technology supporting small businessgrowth and innovation.Purpose of the report:Main purpose of this research report is to understand the impact which the digitaltechnology can have upon small and medium business growth and innovation. In addition to thisit will also help researcher to acknowledge why it is essential to come up with inovatives ideasand equipments in it sectors which will also further help a researcher to develop the knowledgeand skill level at personnel and professional level (Frankenberger and et. al., 2013).Aim:“To identify the impact of digital technology supporting small business growth andinnovation”- A Case study on Continental Consulting Limited.Objectives:To understand the concept of digital technology.To examine the impact of Digital Technology on innovation and business growth ofContinental Consulting Limited.To explore different types of digital technology used by Continental Consulting Limitedto improve growth.To identify relationship between digital technology and growth and innovation ofContinental consulting Limited.P2Project management planProject management plan:It can be defined as a formal, approved documents which helps in determining how theproject needs to be executed, controlled and monitored (Glukhov, Ilin and Levina, 2015). Thusthere are several components of effective project plan which are needed to be considered by theproject manager of Continental Consulting Limited and they are basically, cost, time, quality,communication, resources etc. are being explained below:2
Cost:This aspect needs to be considered at first while planning effective project plan aswithout appropriate budget and availability of cost, Continental consulting firm cannot achieveits maximum growth and innovation. As in order to adopt the digital technology it is very muchessential for the firm to have sufficient among of funds. Thus, in order to carry out projectsmoothly the estimated budget by management of business is 388000 pounds. Whereas forresearcher to carry out effective research the estimated budget is 380 pounds (Heger andRohrbeck, 2012).Total forecasted budgetParticular 2018-19($)Implementing technology cost170000Promotional expense70000Advertisement expense55000Catalogues 18000Training charges75000Total cost388000Time:It is the second essential aspect which must be considered while making an effectiveproject plan. If the Continental consulting firm will finish up the project on time then it will helpthe business in achieving the competitive advantage in the for of improvement in growth andinnovation (Spender, 2014). Thus, the estimated time period for the completion of project byorganisation is 26 weeks, whereas for researcher the estimated time period is approx 8 weeks soas to complete research effectively and to collet accurate and valuable data which would help indrawing effective conclusion.Quality:It is also a crucial aspect which will positively impact the business growth in the form ofincrease in profitability ratio if the firm takes this aspect into consideration while making projectplan. So in order to render better quality services to its clients management of Continent'consulting Ltd must make use of modern digital technology like social media and mobileapplication which will help business to achieve its growth and innovation too (Silvius andSchipper, 2014). Whereas a researcher should also make best use of books, journals, magazines,government reports etc. so as to come up with best quality research.3
Risk:This is the aspect which term to be uncertain and may take place nay time in anorganisation. For Continental consulting organisation risk can take place in the form of shortageof funds, poor knowledge of digital technology, unskilled labour etc. So management must takesuch risk factor into consideration and accordingly should prepare effective project plan.Whereas for researcher too risk can take place in the form of shortage of time and if the data isnot collected from authentic sources then the research also might fail. So researcher must takethis risk aspects into consideration while carrying out research and this can be done byscheduling the time period of each task and by ensuring that data that is being collected ids fromauthentic source.Scope:The scope level for Continental consulting Ltd is term to be wider as it render servicesall around the London by supporting small and medium business manufacturing enterprises so asto re-engineer their organisation process in order to achieve high profitability and sustainability.For this a firm need to adopts the modern digital technology like social media so as to renderservices to large number of customers. Whereas the scope level of researcher is term to bebroader while carrying out research various tools, techniques and research methods need to betaken into consideration like qualitative, quantitative, thematic interpretation tool etc. which willhelp research to develop at professional level and personnel level.Resources:It is a basic requirement which the project manager of Continental consultingorganisation must take into consideration while making effective project management plan.Resources for organisation here refers to skilled labour, funds etc. So in order to achievemaximum growth and innovation in business Continental consulting Ltd must come up withadvanced digital technology and should train employees so that they can effectively utilise thetechnology resource so as to achieve growth for organisation. Whereas a researcher should alsomake best use of its resources like government reports, magazines, books, journals internet etc.so as to come up with valuable and accurate result.Communication:In order to come up with positive impact in the form of increase in sales and profit,management of Continental consulting Ltd must take into consideration that there take place4
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