Rolex's Digital Transformation: A Business Activities Analysis Report

This report provides a comprehensive analysis of Rolex's digital transformation, focusing on the implementation of digital technology across various business activities. The report begins with an introduction highlighting the importance of digital technology in modern business and its impact on operations, marketing, HR, and accounting, using Rolex as a case study. It outlines the aims, objectives, and research questions guiding the project. The report then details a project management plan, covering scope, risk management, quality control, cost, and timeline considerations. A timeline and action plan for the research are presented, including the methodology for collecting and analyzing data from a sample of respondents. The research methodology, including data collection methods and analysis techniques, is described. The report concludes with recommendations based on the research findings, offering insights into the effectiveness of digital technology implementation and suggesting areas for improvement. The report emphasizes the benefits of digitalization for businesses, including improved efficiency, global reach, and enhanced decision-making capabilities. The assignment showcases a practical application of digital transformation in a real-world business context.

Managing Successful Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives...............................................................................................................1
TASK 2............................................................................................................................................3
P2 Project management plan.......................................................................................................3
TASK 3............................................................................................................................................4
P3 Time line and action plan.......................................................................................................4
TASK 4............................................................................................................................................6
P4 Carry out research by using proper methodology..................................................................6
TASK 5............................................................................................................................................8
P5 Interpretation and evaluate the project outcome....................................................................8
TASK 6..........................................................................................................................................14
P6 Recommendations on findings.............................................................................................14
TASK 7..........................................................................................................................................15
P7 Reflection on the research....................................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
The world is getting modernise and advanced as with new technology inventions. This is
one of a helpful term for maximising and expanding the business. Hence, digital technology has
transformed the business activities through which operations and storage of information become
easy and adequate. By using modern and advanced technology company can store their data and
communicate their information to target user within few seconds. Hence, new technology is
helpful in making the work easy and integrate the operations of business with each other. In this
assignment whole focus is based on digital technology by taking the reference of Rolex which is
one of well established organisation of internet marketing who lead to maintain their work
directly through internet (Crawford and Nahmias, 2010). In this project several things will lead
to get discussed by setting the aims and objectives which are associated with the project. After
that a proper research have to get conducted for collecting the information and generate adequate
information for the project. On the basis of such information and analysis, appropriate
meaningful recommendations have to provide for such areas which have to get improved. All
these things have to analyse in an adequate manner for making the project outcome successful.
TASK 1
P1 Aims and objectives
In the present world, it is necessary to make the business advanced and communicate the
activities according to requirement. It is a one of a revolutionary technique in the field of modern
market world where traditional market segment is getting decline as per days. Its impact on the
business is positive in nature because by this administration will take appropriate place. In such
relation cloud technology enable in transferring the files from one network server to another.
Moreover, provide platform where business can communicate their business with vast number of
customers through social media (Matos and Silvestre, 2013). As the opportunities for business
also get maximise through which their profitability as well as good will get improved. Hence, for
this adequate amount of fund is required which enable an organisation to make their business
expansion easy and more appropriate. As by this, they can reach to vast number of users because
now a days many people use social media a best platform for conducting operations. It has
several number of advantages which aid an business in connecting their work with each of their
departments in several regions. As by this, they are making work integrated with network to all
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the divisions of office for identifying the deviations which are taking place. Thus, this
digitalisation provide benefit to business for making their services effective and taking decision
on frequent basis. Thus, its impact on business is positive in nature.
Topic: How digital technology transformed the business activities:operational, marketing, HR
and accounting.
Background of project:
Every business require to get change according to time in which many new advancement
are taking place in present environment. For this consent digital technology transformed the
business operations very rapidly (Achtenhagen, Melin and Naldi, 2013). Moreover, it makes the
operations of business more effective in which quality goods and services get manufacture
according to requirement and demand of customers. Along with this account department do not
require to transfer their data through Emails which increase chances of hacking. But by adopting
cloud technology data get secure and interference of outdoor people get decline. As by
digitalisation production also get improved because large data get collected through different
users. Along with this watches get manufactured according to demand of every customer which
present in different parts of the world. Social media and mobile technology aid in connecting the
work on a global scale. Around the globe make their work appropriate and adequate. Hence,
when starting a new project business have to set several aims and objectives according to
requirement of project for guiding whole business entity to work on such blueprint.
Aims: To implement digital technology for transforming business activities – A case study on
Rolex.
Objectives:
 To identify the implementation of digital technology in company
 To understand the need of business transformation activities. To assess the effectiveness of digital technology on business activities transformation.
Research questions:
 How the digital technology get implemented in business?
 Why is it compulsory to transformed the business activities?
 How the digital technology is effective on transforming the business?
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TASK 2
P2 Project management plan
A perfect project management plan is must for conducting all the activities and project in
an adequate manner (Jansen, Cusumano and Brinkkemper, 2013). As this is helpful in making
the project successful for the long term purpose. In such relation cost, quality, risk, quality and
scope of the project have to identify. This is important for making and managing a successful
business project. Rolex want to maximise their business by conducting their operations in online
sector also. For such consent they require to show consent on all these points which are
described as below: Scope of the project: The scope of the project is high in nature as the modern world is
consist of full of opportunities who aid and support business in increasing their
profitability. Thus, by applying this tool management can make their business operations
all over the world and do not limit to off line sector but now they are going to deal at
online sector as well. Risk management: Risk level is not so high as Rolex is already a well established brand
and thus management have to identify the little level of risk which is related with
business project. Thus, business have to measure the risk of their project and take
appropriate decision which are beneficial for them in minimising such risk and problems. Quality control: A major factor on which company need to work in online market is their
quality. Management already provide quality products to their clients and for such
relation, they have to maintain their products quality for long term. This factor is
beneficial for a company in maximising their sales and attain a vast number of customers. Cost: Cost of the project is high as they are going to deal at online sector but this does not
affect the operations so much. Entity have sufficient amount of fund for managing their
activities (Wuttke and et. al, 2013). Time:Project implementation should have to get a fix time period in which it have to get
execute. As this is helpful in making the outcome effective and appropriate. Business
should have to provide a time limit to all of their employees in executing the operation in
an appropriate manner. Rolex have to set a signifies time duration for making their
project successful.
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 Communication: Every project require process of communication through which
management can communicate each sort of information with their employees and
associates. This factor is helpful in defining the new project or field in which business
going to concern their work.
By complying with all these points, an organisation can successfully implement such project. As
this made a positive impact on business activities whether they are related with operation,
marketing, accounting and human resource. Also, they can recruit more and more number of
employees in their company and opening more stores all over the world. A perfect project
management plan is necessary for making the implementation of project effective. Rolex have to
apply this plan in business adequately so that they are going to sale their products online. This
lead to support them in attain vast number of users as well as their profit get maximise.
TASK 3
P3 Time line and action plan
Research is helpful in identifying the opinion and nature of different perspective. This is
helpful in making and taking a beneficial decision which provide strength for long term. Hence,
for them an action plan is required. With the help of action plan, operation get executed in right
direction with proper utilisation of resources in less time frame. A perfect study is required while
dealing with business project (Peppers and Rogers, 2016). There are mainly some steps are find
out for conducting a research:
 Identify a problem or cause for which research have to get done.
 Review the literature
 Clarify the problem
 Define term and concepts of study
 Population or respondents on which research will execute
 Formulate instrumentation plan
 Collect data
 Analyse the data
All these things will include in the research project which is based on digital transformation of
business activities. As this is helpful for them in identify the opinion of various people. Rolex
want to make their business digitalise in which they are going to expand operation through
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online marketing around the globe. This is consider as problem after this use various opinion of
authors in such relation that such aspect is helpful for long term or reflect positive impact on
business or not. Once all these things get done, select a population on which this process have to
get execute which is beneficial for getting the opinion of different people. For this, company
select 20 respondents by using random sampling method. The data get collected from them and
then a proper analysis go ahead for taking an appropriate decision.
By considering all such activities, action plan get framed with dates and time frame. This
is helpful in making the outcome appropriate and beneficial for long term purpose. Rolex using
primary source of information in which questionnaire lead to get design. 10 questions are framed
which further asked to 20 respondents (Matos and Silvestre, 2013). Such 20 people are taking as
a whole of population because it is very hard for a company to conduct research on more than
100 people at one time. The data get collected on the users of London by providing them a
question template. As this is helpful in getting the personal views and opinion of distinct persons.
Researcher have to review the dates again and again and work according to time frame
which formulate for making project successful. For any successful business project it is
necessary to formulate a date plan and time period in which such thing get done.
Making a business digitalise is not a easy task because information have to deliver to all
respondents in an adequate manner. Hence, business have to take opinion of respondents and
collect all such information and analyse it so that they can make their operations effective. Below
mentioned is a time frame and a action plan which have prepare by the researcher to conduct a
research on digital transformation by Rolex:
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This plan have to follow by Rolex so that they can work in appropriate direction and attain their
objectives and aim in an adequate manner. As this is helpful for them in expanding the business
all over the world because not every one have much time to go to store and purchase watch. As
thus, they can directly order it online and whole data can be stored at one place. By this, senior
management can take adequate decision by analysing such data. This action plan is helpful for
them in reducing the uncertainty of business and expansion become successful.
TASK 4
P4 Carry out research by using proper methodology
Research require a method which have to follow by a researcher for making the outcome
effective and appropriate (Tajeddini and Trueman, 2012). By using such research methods, a
investigation can be converted into analytical form by which decision making process become
easy and appropriate. For any research there are two main data tools are find out or can be
consider as two forms of iformation which are:
 Primary data
 Secondary data
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Both the data collection methods are helpful while concluding a valid decision for long term and
sustainability of an entity purpose. Rolex use both data collection method while identifying that
digital technology support them in further expansion or made a positive impact on business or
not. Variety of methods are taking place at the time of research which are:
1. Qualitative
2. Quantitative
3. Analytical
Researcher use qualitative and quantitative method for making the results appropriate and helpful
in long term consent. As this is a most beneficial technique in conducting and measuring the
results. For this research consent primary and secondary data is used for making the outcome
effective.
 Primary data: It is such sort of data which get collected through personal interviews,
questionnaire or any other forms in which direct interaction took place. As this is helpful
in gathering such information which have some real existence and are more beneficial.
Such type of research make the outcome appropriate and reliable in nature. Rolex design
a questionnaire which will conduct on 20 respondents. This lead to provide accurate
information and views of various bodies which are part of business (Sikdar and Payyazhi,
2014.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Is digitalisation favourable for business?
a) Yes
b) No
Q2. Does this provide benefit to Rolex for long term purpose?
a) Yes
b) No
Q3. Is digitalisation required for Rolex according to present advancement and rapid
increment in technology?
a) Acceptable
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b) Not so much applicable
Q4. Will the digitalisation made positive impact on business?
a) Yes
b) No
Q5. Is it necessary for Rolex to transform their business?
a) Agree
b) Disagree
Q6. Does the company have adequate technology to store their data?
a) Yes
b) No
Q7. What will the long term impact on business by this transformation?
a) Positive
b) Negative
c) Neutral
Q8. Is it helpful in binding the all divisions of company and reduce red tap-ism?
a) Yes
b) No
Q9. According to modern world, which method of marketing is most suitable?
a) Traditional marketing
b) Modern marketing
Q10. Any further suggestion for implementing digitalisation properly?
 Secondary data: Primary data is used for collecting the reliable information which is
helpful in taking a beneficial decision according to the opinion and views of various
people. But secondary data and source of information is totally differ from this because in
such sort books, journals, articles and news letter. Moreover, refer to case study is also a
part of secondary information (Kindström, 2010).
Case study 1: Every time Rolex required some innovation in their products and before its
production a major aim of the owner was just to make such products which are reliable and
whose name is easy to pronounce. As their mission is to provide quality service wristwatches. In
such relation this get measure that company need and changed their business according to
requirement of time.
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Case study 2: Rolex watches are usually for such person who want to show off their wealth and
as per this mostly owner of such watches are above 35. As in such relation, company start
manufacturing such watches also which are for the middle class people. Hence, mostly people
get attracted towards product by promoting their watches at social media which is termed as
major platform according to modern world (Kew and Stredwick, 2017).
It get measure through both case study that company is binding their business with social
media and start performing innovation in their watches as well. Hence, digitalisation of
transformation of business made a positive impact on business as well as its growth. Basically
their market is related with US, Hong Kong, China. By using social media they can trade all
over the world.
TASK 5
P5 Interpretation and evaluate the project outcome
Presentation of the data is helpful for concluding an appropriate outcome of the project.
As this aid an organisation to make appropriate decision which is along with the project. Rolex
have to interpret the data which gathered from 20 respondents of London. As this aid them in
making the research effective and attain a valid outcome of project.
Q1. Is digitalisation favourable for
business?
Yes 14
No 6
Theme 1: Digitalisation is appropriate for business
9
Yes No
0
2
4
6
8
10
12
14
16 14
6 Digitalisation