Digital Tech Impact on Small Business Growth (BUS101)

Desklib provides past papers and solved assignments for students. This report analyzes digital technology's impact on small business growth.

The impact of digital technology in supporting small business growth and innovation
1

Executive Summary
The research has been done on the aspects that are associated with the digital technology
incorporation in different small businesses. In this context, the company that has been considered
in the research is Hakim Group. For the research, the researcher has considered deductive
approach with primary and secondary data analysis. The primary and secondary data analysis has
given proper kind of data on the technical modification aspect. The researcher has found that
improvements are needed and the management of the organization needs to priorities the
activities associated with loophole mitigation in order to make proper kind of betterment.
2

Table of Contents
Introduction......................................................................................................................................4
Task 1...............................................................................................................................................5
Task 2.............................................................................................................................................13
Conclusion.....................................................................................................................................28
Appendices....................................................................................................................................30
3

Introduction
The impact of the digital technology is contributed to the facilitated growth of internalization of
the market. This, in turn, imparts the benefits to the organizations of using online services to
promote the product on social media. The effect of the IT services to small scale organizations
have been on different terms as compared to the large-scale companies and thus inclined to the
contrasting selection of the digital tools while innovating the business operation (Morgan-
Thomas, 2016). In this report, the efficacies of digital technology that supports the growth and
innovations of the small scale company are going to be studied.
4

Task 1
Aims and Objectives for your proposed research
Project Definition
The impact of digital technology has been already observed to be influencing the fate of many
large scale businesses. The assertions of online solutions on the performances of small-sized
enterprises still remain to be a debatable issue. Hence, the efficacies that the digital technology
has on the alleviation of innovative business operations of small scale institutions are to be
evaluated through this project. The organization of Hakim has been selected to analyze the effect
of the IT-based solution on the business processes in this study.
Problem Statement
The use of online technologies has been making an impact on the businesses across the world,
but along with it the scopes of the organization surfaces a predicament that revolves around the
absence of experience in handling the intricacies of the Information Technology Services. This
project has been instantiated on the identification of the technological inadequacies and how
effectively it serves to the innovation as the problem statement.
Project Strategy
This involves the planning procedures that are panned down as the procedures through which the
project objectives are accomplished and includes:
 The research will be developed on the basis of the opinions and perspectives that are
demonstrated by the managers and the employees of Hakim Group. This will include the
approach of primary research
 The data collection techniques are devised in a manner that serves to the purpose of the
aim and objectives that are ascertained for accomplishment.
 The detailed analysis of the data collected through the research is to be evaluated to come
up with measurable outcomes and recommendations
5

Project aim
The aim of the study is to evaluate the various aspects through which the business operations of
small size enterprises such as the Hakim Group are innovated by the extensive use of digital
technology.
Project Objectives
The objectives that are implemented in this project are:
 To identify the IT-based services that contribute to the growth of Hakim Group
 To realize the innovations that are imparted to the product and the services of Hakim
group through the implementation of IT solutions
 To assess the understanding of the employees in terms of using IT services in business
operations.
Research Questions
 What are the IT-based services that contribute in growth of Hakim Group?
 How the modern technology is used in order to magnify the potential of products and
services that are related with Hakim Group?
 How well the employees understand the importance of modern technology in the
performance betterment of the organization?
Scope and limitations of the project
Project Scope
The scopes of the research will compose of quantitative and qualitative research based on the
grounds of questionnaire applied to the project managers and the board of directors. Interview
data will be used to measure qualitative aspects.
Project Limitations
As the study, a considerable amount of time to come up with deliverable outcomes, the time
period of the project is too short and is realized as project limitation
6

Resources and Cost Considerations.
Cost and Time of the Project
Activities Time (hours) Cost Per Hour (£) Total cost (£)
Recognition of the
important resources
for completion of the
project
25 15 375
Appropriate allocation
of the resources to
reflect on the IT
operations
20 5 100
Information gathering
through the primary
research method
22 12 264
Information analysis
of the data gathered
through the research
28 18 504
Developing the final
project documentation
of Standardization of
Procedure
12 5 60
Project Finalization 10 2 20
Monitoring the
development and the
growth of the research
12 15 180
Total 1363
Table 1: Cost analysis
(Source: Created by the learner)
7

Quality Management
The individual who is held accountable to maintaining the qualities of the project is: the project
manager, the project coordinators, and the Technical Supervisor.
Monitoring Plan
Activities Examination of activities
Selection of Theme Managed by the Project Manager
Identifying the objective Managed by the project manager and
other managerial heads
Literature review Managed by the project supervisor
Explaining the research method. Managed by the technical supervisor
Analyzing the information gathered. Managed by the project manager
Recommending solutions Managed by the project coordinator
Table 4: Monitoring Plan
(Source: Created by the learner)
Gantt chart or work breakdown structure in order to provide timeframes and stages for
completion.
Sl no Activity Start Date Duration End Date
1.0 Initiation of the project 2/2/19 15 2/12/19
1.1 Developing the objective 2/2/19 3 11/23/2019
1.2 Researching the theme 2/5/19 4 11/27/2019
1.3 Reflecting on the scope of
the research
2/8/19 3 11/30/2019
1.4
Estimation of budget 2/12/19 5 12/5/2019
2 Creating the research
objectives
2/18/19 10 2/27/2019
2.1 Communicating with the
managerial and project
2/20/19 3 12/11/2019
8

members of Hakim Group
2.2 Developing the
questionnaire that answers
to the impact of IT services
2/25/19 4 12/15/2019
2.3 Developing the Risk
Management Log
2/27/2019 3 12/18/2019
3 Explaining the research
methodology
3/5/2019 18 3/12/2019
3.1 Implementing the
appropriate research
methodologies
3/5/2019 6 12/24/2019
3.2 Conducting an estimation of
the sample for the
interviewing process
3/12/2019 6 12/30/2019
4 Information analysis 3/12/2019 20 3/25/2019
4.1 Interview Analysis 3/12/2019 10 3/25/2019
4.2 Survey Analysis 3/25/2019 10 4/5/2019
5 Processing the
recommendations
4/5/2019 10 2/15/2020
6 Documentation of the
research
4/11/2019 5 3/21/2020
Table 5: Work Breakdown Structure
(Source: Created by the learner)
9

Figure 1: Gan tt Chart
(Source: Created by the learner)
A communication plan and a risk-log for the potential research
Risk Log
Risk
description
Risk
impact
Probability
of
occurrence
Project
impact
Consequence Risk owner
The inadequate
availability of
financial and
time resources to
gather data
High Low Premature
completion
of the
project
The project has to
completed in a rush,
resulting in
improper results
Project Manager
The ascendancy
of technical
problems such as
storing the
gathered data in
faulty databases
High Medium The
project
may run
for a
longer
period of
time and
contributes
The improper
implementation of
Database
Management
systems could risk
the sustainability of
the project as the
data stored is going
Project Manager
10

to
additional
budget
to be is sensitive
The vulnerability
in the
communicational
aspects to
interact with the
employees.
Medium Low Inadequate
alignment
to the
project
objectives
The faulty
perspectives
obtained could
mislead the
outcome of the
project
Project Manager
Lack of
responses from
the respondents
High Low The
schedule
of the
project the
project is
hampered
The absence of
appropriate
responses could
result in decreasing
the quality of
project
Project Manager
Table 2: Risk Assessment
(Source: Created by the learner)
Communication Plan
The objective
of the
communication
Type Frequency Communication
method
Participants Feedback
Mechanism
To undertake of
reviewing aims
and objectives
of the research
Compulsory Weekly Face to face Project
manager and
the technical
team
members
Weekly
Meetings
Reviewing the
scope and
limitations of
Compulsory Weekly Electronic
Media
Technical
Supervisor
Weekly
Meetings
11

the project
Relaying the
information
about the scope
and the
limitations of
the study
Compulsory Weekly Face to face Project
Manager and
the Project
Supervisor
Weekly
Meetings
Communicating
about the Work
Breakdown
Structure
Compulsory Weekly Electronic
Media
Project
Manager and
the Project
Coordinators
Weekly
Meetings
Table 3: Communication plan
(Source: Created by the learner)
12