Managing Successful Business: Digital Technology Impact on Black Penny

This report analyzes the impact of digital technology on The Black Penny, a business entity. It begins by outlining project aims, objectives, and research questions, followed by a plan that includes cost, time, and risk assessments. The report details the research methodology, including qualitative and quantitative analysis, research strategy, philosophy, and approach, as well as data collection methods and limitations. It then presents data evaluation, including thematic analysis of survey responses regarding the importance and impact of digital technology on various aspects of the business, such as growth, documentation, and potential risks. The report concludes with an examination of how digital technology can improve different components of The Black Penny. The report is a comprehensive analysis of the influence of digital technology on the business operations of The Black Penny and the implications of its implementation.

MANAGING SUCCESSFUL
BUSINESS

INTRODUCTION
Technology can be considered as the new and advanced way of improving the processes by
increasing the rate of doing it (Wheelen and Hunger, 2011). The digital technology has been
successful as it has changed lives in various aspects. Whether it is in case of restaurants, hotels or
any firm, it has been successful though in bringing a huge amount of change in it. The report is
about the use of digital technology along with its impact on The Black Penny. Along with this, it
includes the analysis of data by various means in evaluating the performance of digital
technology. Also, it includes various research methods which can help the whole research
throughout.
TASK 1
P1. Devising project aims
Aim
To analyse the influence of digital technology on different operations of Black Penny
Objectives To demonstrating the idea and innovation of digital technology To understand the relationship in between digital technology and The Black Penny To endorse various methods for analysing the impact of digital technology can be
analysed.
Research Questions
Q1. What are the core aspects of digital technology?
Q2. What is the relation between Black Penny and the digital technology ?
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P2.Planning for Management
 Cost: The overall cost for the research study estaimated by the researcher will be around
1500 pound. More cost will incurred during data collection and analysing process.
 Time: Researcher could take 103 days in order to complete the study effectively.
 Scope: After the compeletion of the study, researcher will be able to provide the
significance and impact of digital technology on Black Penny.
 Risk: Risk can be during data collection, literature review and data analysis. Researcher
could face issue with irrelevancy of articles and improper questionnaire filled by the
participants.
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P3. Breakdown structure to provide time frames and stages
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Illustration 1: Gantt Chart and Work Break Down Structure
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Illustration 2: Network Diagram
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TASK 2
P4. Research by applying qualitative and quantitative analysis
Research can be termed as a way that is considered efficient systematic to use for collecting all
the information and data for the whole research (Den Hertog,Van der Aa and De Jong, 2010).
The collected information helps in increasing the understanding of a person. A research method
can be said as a pre plan structure which will be used in doing all the factors of the research.
Factors of research methodology are as following :
Research strategy
It is considered as a way by which the researcher can make implementation of all the
techniques and strategies in a way that it can help in analysing the whole research. It
involves various techniques that he researcher will make use of in the research, Research
strategy is categorised in two ways, either by the qualitative or by the quantitative.
Qualitative strategy will be used in this study by the researcher.
Research Philosophy
Research philosophy is the belief of researcher in the way information and data is being
collected and analysed. It is because after the whole analysis, it is being used in the research
by the researcher. The research philosophy can be categorised in various forms such as
positivism, interpretivism, realism etc. In this research, the realism one will be used by the
research because it is related to the scientific enquiry. It helps in disclosing the reality about
the objectives that are already existing.
Research approach
It is divided into inductive and deductive research approach (Stokes, Wilson and Wilson,
2010). The deductive approach deals with the longitudinal case study but the inductive one
deals with new technologies that are emerging. So, the researcher will focus on the already
made rather than using the new ones, so deductive approach will be used in this research.
Data collection
It is a method by which the researcher can collect information for the research. There are two
method of collecting it, either by the way of primary research or by secondary means. In
case of primary, it collected initially and it includes means like surveys, focused groups
or interviews whereas the secondary data is already gathered by some other third party.
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Different examples include books, journals or by online means. Researcher will make
utilisation of the primary data as in analysing the impact of digital technology, surveys
and interviews can help the researcher more than using the secondary one. It is because
the previous experiences from surveys can help the researcher more in analysing the
influence of technology on the organisation.
Research limitations
It can be considered as any one or more than one area which may lack in between or can
behave as a barrier for the whole research. Like in case if the researcher extends the duration
time of the whole research by thinking that more time can make the research more better,
then in that case, the research must analyse that involving more time can mean involving
more cost and time as well (Wheelen and Hunger, 2011). So, if at that point, the researcher
may lack in these resources, then it can act as limitations for the whole research and may
affect it as well. So, it is better for the researcher to finish the study in a set deadline so that
the research may not have to face any such barrier or limitation.
Sampling
Sampling is considered as a process which is being done statistically and then used in the
research. In this, few samples from a large amount of population are being taken which
helps in analysing the research more efficiently (Shattock, 2010). Different examples can be
simple random sampling (SRS), cluster sampling etc. Although all the ways are efficient
enough but stratified sampling method has been used by the researcher as the samples that
have been gathered from a large amount of population will be classified in smaller groups
and precise interviews can be acquried from them in order to get an efficient amount of data
that will help in understanding better the impact of digital technology on the Black Penny.
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TASK 3
P5. Evaluation of information
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Theme 1 : The importance of digital technology
Is there any need of digital technology? Frequency
Completely disagree 2
Disagree 3
Neutral 1
Agree 4
Completely agree 10
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Description : After the investigation of data, it has been observed that 10 out of 20 workers think
that the importance of digital technology is very effective as it can bring in enormous number of
changes like in replacing the manual process to digital as it can help in increasing the rate of the
activities. Four other employees of the Black Penny also think that it is very effective. One
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