Analyzing the Impact of Digital Strategies on Business Performance

The assignment examines how contemporary organizations utilize digital transformation strategies to bolster business outcomes. Focusing on the integration of cloud computing, data analytics, and effective project management, it evaluates the direct impact these technological advancements have on operational efficiency and strategic decision-making. Through a comprehensive analysis, the study highlights case studies where digital initiatives have led to significant performance improvements, offering insights into best practices for businesses aiming to adopt similar strategies.

MANAGING
SUCCESSFUL
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P 1 Aims and objectives of project ............................................................................................1
P 2 Project Management Plan....................................................................................................3
P 3 Work-breakdown-structure and Gantt Chart .......................................................................6
TASK 2 ...........................................................................................................................................9
P 4 Small scale research .............................................................................................................9
TASK 3..........................................................................................................................................11
P 5 Analysation of research and data using proper tools..........................................................11
P 6 Recommendation ..............................................................................................................15
TASK 4..........................................................................................................................................15
P 7 Reflection............................................................................................................................15
CONCLUSION ...........................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
The advancement of digital technology is contributing a lot in the growth of business of
any organisation. Ventures in past years were not able be to achieve their goals and objectives as
at that time technical development was not occurred. On the other hand, companies are sharing
as well as storing their information by taking aid of modernised technology. In addition to this,
various other functions such as human resource management, accounting, sales and marketing,
supplying, etc. are also taking help of developed technologies (Awais Ahmad Tipu and Manzoor
Arain, 2011). The present report is based on the influence of digital technology on the business
growth of Nisa Retail Limited. It is popular brand and are independent retailers as well as
wholesalers in the UK. It is a small and medium sized enterprise and are having very less number
of workers. In this project, several aims, objectives and project plan has been recognised for
examining the impact of digital technology on the Nisa and its business functions. Additionally,
research has been conducted to determine the need of technological advancement in different
areas of business.
TASK 1
P 1 Aims and objectives of project
This is very essential to design an accurate and appropriate plan for all of the
organisations in the current era in order to expand their business activities for maximising their
business profitability. An effective project has a overall image of profits gained by the venture
after completion of all the assessments or activities. Even it can also forecast its future business
growth in the market place. It is to be noted that the utilisation of resources should be done in
correct way (Bakker, Cambré, Korlaar and Raab, 2011). Therefore, the primary objective of the
project is to attain more and more profits on their investment by satisfying the needs or demands
of all customers. Besides this, Nisa should include digital technology in their business so that
they can fight with the tough competition as large number of competitors are rising day on day.
Various companies are coming with innovative ideas and are offering same kind of products and
services as that of Nisa. So, it is now become necessary for this venture to produce more
innovative and unique goods beyond the thinking of their competitors.
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They should also manage their business deals effectively by delivering them their orders
before or on the allocated date for delivery. Nisa Retail Limited is now adopting modern digital
technologies for executing their business operations in an effectual manner and by this way they
can also take better future decisions by considering relevant facts and figures (Basu, 2014).
Hence, it can be concluded that digitalisation is giving a positive impact on the business of
venture and are supporting in growth of their business.
Theme : Influence of digital technology on the business growth and innovation
Back – ground of project :
It is important for the every organisations to make change in their business norms and
policies according to the alteration occurred in the marketing environment. Technology is
playing a vital role in all sectors of business and even it is treated as an external macro factor.
Modernisation in the technological aspects has bring so many revolutionary effects in the world
of marketing. In other words, it can be stated that digital technology has changed the whole
scenario of the small and medium sized companies (Geraldi and Lechter, 2012). Nisa can make
improvement in their administration department by taking help of cloud computing. It enables
them to store as well as share their information to remote users and customers as per the needs.
They can also develop their mode of communication by using several social media such as Face
book, What's app, Twitter, Gmail, etc.
On the other hand, production department can produce innovative goods for seeking
attention of large number of users towards their goods by taking help of some new technologies
like artificial intelligence and big data analytics. This also aids them in growing their products
quantity at greater extent (Hall, 2011). The modern technologies enable other areas like human
resource department to improve their working. Managers of the cited corporation can recruit
employees by taking their interviews through online. This saves money as well as costly time of
the venture. Therefore, this project consist of different objectives that support Nisa in executing
their business effectively.
Aims : The first and foremost aim of this project report is to determine the impact of digital
technology on the organisational growth. In addition to this, it also evaluate the influence of
digitalisation on the new innovations. Besides this, there are various other aims of the project
that is discussed below :
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 This report will concentrate on those regions of Nisa where technological advancement is
needed for achieving goals and targets of business.
 Impact of modern technology on the several activities of organisation such as
communication, manufacturing, advertisement, accounting, human resource department,
marketing, etc.
Objectives : Nisa is one of the leading venture that is dealing with the business of
retailing and wholesaling in the United Kingdom. It is a mutual company owned by its members
and are operating like a co- operative , by taking use of collective buying power of large group of
members for negotiating deals with the suppliers (Harish and Kumar, 2014). This company
wishes to manufacture quality based goods and services at the fast rate in order to satisfy the
requirements of consumers. In addition to that, it also wants the recognise those areas where
changes can be done in context of technology. The major objectives of the project are listed
below :
 Evaluation of enforcement of digital technology within their work place
 To identify the reason behind modifying different business activities
 To recognise the influence of modern technologies on production department, human
resource management, sales and accounting and marketing functions
 To measure the increment in profitability
Hence, these are some essential aims and objectives of this project which will be
represented in this overall report. All the above mentioned objectives are linked with the digital
technologies that helps Nisa in developing their productivity and earning high profitability
(Hwang and Ng, 2013). Almost all of the ventures within this world are taking aid of technology
for improving their performances and increasing their profits.
P 2 Project Management Plan
Before designing any project management plan, it is very important to know or determine
the risks factors that can give adverse affect on the whole project. If this will not done, then
various factors emerges in future that hinders the performance of venture (Kowalkowski,
Kindström and Brehmer, 2011). Therefore, researcher should conduct a survey for determining
all the risky factors that can give negative impact on this project. In other words, it can be stated
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that project-management plan is a method that is used by examiner to identify several factors that
can influence on accomplishment of project. Some of the major aspects are described below :
 Project scope : This includes all those areas which is discussed in this project. This
report is based on the Nisa which deals with retail marketing and wholesaling. The scope
of this report is that it determines the needs of digital technology in the business
activities of Nisa and its future impact regarding this (Leach, 2014). In this report, all the
possible ways has been discussed that might help corporation in manufacturing their
products and services at minimum period of time. As venture desires to offer their goods
to such a large customer so that they can increase their profitability as well as market
share.
 Cost Control : By taking the help of advanced digital technology, organisation can
minimise their unwanted costs of their business activities. In earlier days, the cited firm
is doing paper work for the purpose of accounting. But now a days, with the rise of
digital technology, venture can take use of computer system in stead of pen and paper.
This eliminates the cost of papers and pens and also helps in making marketing plan in
minimum interval of time. The new software like spreadsheet, Ms - Excel, etc. can be
used for the purpose of calculation. This removes the physical work as results are drawn
automatically by writing some formulae. This also minimises the previous errors. While
conducting primary and secondary research, the cited venture has to evaluate those
prospects that needs capitals or investment (Marston and et. al., 2011). This assist
corporation in making crucial decisions in terms of organisational budgeting. By making
Gantt chart as well as critical path, researcher can determine all those areas where money
of the firm can be saved. Thus, it can be stated that, this is most significant part that have
to be considered by investigator at the time of making project.
 Quality Control : By taking support of modern technology, venture can also improve
quality in their goods and services. They can introduce new machinery that can aids
them in manufacturing good quality products. They can also make new packaging that
may attract users (Porwal and Hewage, 2013). For better growth in all activities of
business, firm should adopt digital mode of communication in order to stay connected all
time from each and every customers as well as employees efficiently. On the other hand,
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the overall work of this project depends completely on the information that is obtained
by the marketing research as any of the faults in the data can cause huge loss to the
company. So, it is necessary for the researcher to gather correct and appropriate facts and
data which helps in attaining aims and objectives of venture. In other words, it can stated
that, for achieving effective results, investigators have to collect proper data by doing
researches on the realistic basis so that real and authenticate information can be
accumulated. Nisa should set a budget of around 400$ for conducting such kind of
researches, otherwise they will not attain good outcome from this market research.
 Risk management : This is a technique that supports company in analysing all the
expected risks that might occur in future (Ryan and Campbell, 2012). By this way,
researcher can find proper solutions of those risks so that they can not create any
hindrance in upcoming days. In this report, this method contribute in identifying all the
foreseen risks that may emerges in digital process of Nisa. Thus, by using this idea,
investigator can remove all such risky things that can adversely affect the performance of
organisation. The cited venture should complete this project at very less time as extra
time would costs additional operating revenues. Other objectives of this project is to
carry on effect-able marketing research in order to recognise the impact of digital
technologies on the business growth. For minimising the risk, researcher should use
small-scale budget in effective manner so that all risks can be eliminated in very less
revenue.
 Communication : At the time of doing marketing research, investigator should
communicate efficiently with regional civilians of United Kingdom for knowing their
perspective for the goods and services of Nisa. They can also know their needs and
demands so that next time company can manufacture their products as per their
expectations (Sharon and Dori, 2015). For carrying on this research, venture should
adopt process of internal communication, but for resolving the issues of businesses, they
should follow external or formal communication process.
 Time : This is nothing but the process of determination of time that will be taken in
overall completion of project. This factor leads a greater impact on the aims and
objectives of corporation. In this project, there is two major areas that would consume
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more time. These are marketing research and its analysation or data analysis. Therefore,
researcher should mainly concentrate on these aspects. For this purpose, they should
design a proper Gantt chart and Critical path because these are two effectual techniques
for doing correct time management (Smith, Gonin and Besharov, 2013). However,
researcher should made an aim of completing the whole project in minimum period of
time.
 Resource : This is the process of analysing different resources needed by the
organisation. Some of the main resources are financial resource that is money, human
resource that is workers, technological resources that is machineries, etc. These all the
assets helps a lot in acquiring the goals and targets of Nisa. So, it is very important for
the cited firm to make available all such resources so that this aids in manufacturing
products and services at minimum time period.
P 3 Work-breakdown-structure and Gantt Chart
There are several stages of research that have to be keep in proper queue so that there will
not occur any confusion while conducting various processes of this report. These are mentioned
below :
 Selection of topic : This is the first stage where the topic of the whole project is being
decided by researcher. This normally takes one day (Stoshikj, Kryvinska and Strauss,
2014). Investigator should conduct their research on the declared or decided topic and
made their reports as per that.
 Framing aims and objectives : This is the second stage wherein aims and objectives of the
report are framed by the researcher so that they remain focussed on that only while
completing or doing their tasks. This will take minimum of two days.
 Literature review : This is the process of collecting information given by some famous
authors and scholars. This would take minimum 3 days.
 Collection of primary data : Here primary data is collected in the form of conducting
interviews of workers as well as customers. On the basis of this a questionnaire is created
so that appropriate questions related to the theme of the report can be formed. This will
take minimum of 3 days.
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 Analysis of data : This is very time consuming process via which venture can bring
modification in their structure of business. In this method, graphs and diagrams are
created for the purpose of representing data. All the information accumulated in the
primary research-methods are shown in the graphical format and this can take maximum
of 4 days.
 Recommendation and conclusion : After the completion of all the tasks of project. The
next step is to give recommendation and conclusion (Thomas, 2011). Researcher give
some suggestion here so that organisation can use that and improve some areas.
Conclusion is nothing but the summary of the whole report. For drawing
recommendation and conclusion, an investigator needs minimum of 2 days.
 Self reflection : In this process, supervisor gives its own opinions about the project. This
can be done in minimum of two days as he needs some time in giving advantages and
limitation of this project.
 Submission of report : At last after completion of this project, the report is submitted
within one day.
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Action plan
 Person participated in this research : It involves workers, users and experienced data
analyser of Nisa.
 Location : Large number of the data is gathered from the internet and online web pages.
 Location of collecting information : Other information can be collected at the corporate
offices.
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 Data inputting procedure : Some of the information are accumulated from the
employees by filling the questionnaire sheets.
TASK 2
P 4 Small scale research
It is important for the investigator to conduct appropriate researches by using correct
methods of research so that it gives real and authenticate information in context of topic of this
report. Some of the methodologies that can be utilised are discussed below :
 Qualitative research : This method of research is utilised for accumulating the feeling and
opinions of people. This this aids researchers in analysing their views on various
questions of research (Verzuh, 2015). Interviews, Questionnaire and Surveys are some of
the methodologies of conducting an qualitative research. Most of the investigator use
these methods that supports them in gaining deep knowledge about the theme of research.
The views collected by this procedures represents the psychology and the behaviours of
human beings in context of the topic of project. Thus, it is proved to be the best process
that cab be used by investigator for carrying on the research.
 Quantitative research : By using this methodology, workers of research can gather
numerical data and information that can aids in increasing the productivity of venture.
This method works in handling with numerical figures and there by complete data should
be aggregated in a correct format. This is totally different from qualitative methodology
as here data is gathered from a large number of population.
 Primary research : In this process, data is integrated from the primary sources in context
of research topic. This can be conducted on the basis of both qualitative as well as
quantitative research methodologies (Viaene and Van den Bunder, 2011). Feedbacks,
surveys, questionnaire, observations, etc. are some of the activities that is carried while
carrying on primary research.
 Secondary research : This method is used for collecting already existed data from various
sources. Web pages of government and libraries, books, journals, internet, current market
research, etc. By taking help of these sources, authenticated data and information are
collected by the researcher.
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