AI Integration in Business: Exploring Management Issues and Solutions

This report explores the contemporary management issues introduced by the use of Artificial Intelligence in business, focusing on the challenges and potential solutions for small businesses aiming to compete with multinational organizations. It begins with an overview of Hettie, a luxury family lifestyle brand, as a case study. The report discusses the advantages of AI, such as increased precision and predictive capabilities, while also addressing management obstacles like high computing power demands, trust deficits, and data privacy concerns. Effective strategies for utilizing AI, including understanding its role and filling knowledge gaps, are highlighted. The research methodology includes positivism and interpretivism philosophies, deductive and inductive research approaches, and various research strategies and designs. Data collection methods, sampling techniques, cost considerations, and a detailed timescale are presented, alongside research limitations and ethical considerations. The report concludes with a list of references, providing a comprehensive analysis of AI's impact on business management. Desklib provides similar solved assignments.

KNOWLEDGE EXCHANGE
PROJECT

TABLE OF CONTENTS
• INTRODUCTION
• Overview of Hettie
• Influencing Literature
• Research Project Objectives
• Proposed Methodology
• Research Limitations
• Research Ethics
• References

INTRODUCTION
AI Technology today:
• Is used for data management
• Predicting consume behavior
• Improving consumer service
Small Businesses today:
• Are looking for ways to improve business operations to compete with multinational organizations
The research will investigate:
• Contemporary management issues introduced by usage of Artificial Intelligence in business. The complex challenges
associated with this topic are covered in this presentation along with solutions for eliminating these challenges

OVERVIEW OF HETTIE
Hettie:
• Award winning luxury family lifestyle brand
• Offers made in England products
• Classic British accessories, inspired by our
local British landscape
• Offers sustainable alternative to fast fashion

INFLUENCING LITERATURE
Advantages of AI in business
• As per the view of Gurtu (2021) the usage
of Artificial intelligence is beneficial for business
firms.
• Increases precision
• Replaces human labor
• Helps predict future outcomes through data analysis

MANAGEMENT OBSTACLES CREATED BY AI
• According to Vadapalli (2021) there
are different challenges associated with
the usage of AI in the corporate world.
• High Computing power of AI
• Trust Deficit
• Limited Knowledge
• Data Privacy and Security

WAYS OF EFFECTIVELY UTILIZING
AI
According to Marvin and Horowitz (2018) it is
important for business firs to take measures
while adopting AI so that it can e effectively
used.
• Understand the role of AI in business
• Fill internal knowledge gaps
• Developing effective leadership for AI
implementation

RESEARCH PROJECT OBJECTIVES
• To understand the benefits of
using AI in business firms
• To determine the management
challenges created because of
AI
• To identify effective solutions
in handling AI related
management issues

PROPOSED METHODOLOGY
Research methodology
• A contextual framework used for completing
coherent research with logical basis.
Research philosophy:
• Positivism and interpretivism.
• Positivism emphasizes factual knowledge.
• Interpretivism states that reality exists outside
of individual mind

RESEARCH APPROACH
• Deductive research approach and
inductive research approach.
Deductive research Approach
• Helps test an existing theory
• Supports quantitative measurement
Inductive research approach
• Improves flexibility

RESEARCH STRATEGY
• Experimental research, case study research and
survey are some of the examples of research
strategy.
Experimental Research
• Dependent, independent and extraneous variables
are used
Survey
• Supports systematic investigation through a
survey questionnaire

RESEARCH DESIGN
Research Design
• Explanatory and Descriptive are two
types of research design
Explanatory Research Design
• Operational definition is generated
• Detailed explanation
Descriptive Research Design
• Systematic description of the topic