Determining Digital Technologies' Impact on Company Profitability

This research project investigates the implications of digital technologies on enhancing the profitability of a company, specifically using Mr. John Watches as a case study. The project begins with an introduction highlighting the increasing importance of digitalization in today's competitive market and how it can boost profitability, improve brand image, and meet customer needs. The research includes a proposal defining the research question, hypothesis, and literature review. The aim is to determine the effect of digital technologies on increasing the company's profitability level, with objectives to evaluate the implications of digitalization, assess essential tools for profitability, and identify ways to achieve a competitive advantage. The research questions explore the impact, tools, and strategies related to digitalization. The literature review explores the concept of digitalization and its impact on business organizations, the tools used to enhance profitability, and ways to achieve a competitive advantage. The research methodology includes a discussion of primary and secondary research methods, evaluating the impact of digital technology, and the tools used to enhance profitability. The project emphasizes the importance of understanding customers, analyzing competitors, and modifying existing products to achieve a competitive advantage. Overall, the project aims to provide insights into how digital technologies can be effectively leveraged to boost profitability and achieve success in the market.

RESEARCH
PROJECT

TITLE: To effectively determine the implication of digital technologies on increasing
profitability level of the company. A case study based on Mr. John Watches.
INTRODUCTION
In today's competitive market place, concept of digitalisation rapidly take place. It
includes number of opportunities through companies enhance their profitability level at market
place. In addition of this, by using digital technologies company enhance their performance.
Basically, digitalisation concept contribute in developing brand image at market place by
providing quality services to customers by considering their needs and wants (ElMaraghy and et.
al., 2013). By using new and innovative technologies firm make their positive image by grabbing
number of opportunities at market place. For attaining higher success and customers base,
company adopt new and innovative technologies to manufacture quality products and services
for their customers as per their needs and wants. In addition of this, every firm and individuals
use digitalisation concept in which they easily attain better satisfaction. Thus by using this
company easily enhance their productivity level.
TASK 1
P1 Research proposal which clearly define question and hypothesis with literature review
Using digitalisation concept, company produce quality products and services for their
customers in order to provide them better satisfaction. In this IT department also play vital role
in storing as well as maintaining entire information which may leads in reducing the chances of
arising any kind of risk factors within business organization. In this Mr John Watches also
operate their business with the purpose of attaining better success at market place. They wants to
enhance their profitability level by using online platform. With the help of this company easily
attain better results by delivering quality products and services as per customers needs and
wants.
Background of Project
This research project is based on effectiveness of digitalisation which may leads in
enhancing profitability level of the company at market. Concept of digitalisation play vital role
in every business organization because it define various opportunities in which firm easily
enhance their positive brand image at market place (Laforet, 2013). In this context, government
also play big role by formulating various rules and legislation. It help business organization to
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enhance their working activities in positive manner. Basically the main aim of every business
organization to evaluate the customers needs and demands so that they easily provide them same
in order to attain their satisfaction (Feige and et. al., 2013). It directly contribute in overall
success of the company at market place. In addition of this, by using various advances
technologies company attain various ways for capturing larger market share form its rivals. In
addition of this, research and development department also play vital role in managing as well as
evaluating the overall effectiveness of using digital technologies. All these are in attaining higher
success at market place.
Aim:
This section of research is one of the important element which defines main purpose of
entire project. Research aim help investigator to draw a valid conclusion in most effective
manner. This will aid in attaining higher success at market place (Katz, 2017). The main aim of
this project is to “to effectively determine the implication of digital technologies on increasing
profitability level of the company.
Research Objectives
This section is also an important because it is related with the research aim which helps in
determining the path. With the help of this researcher easily evaluate whole process and draw
valid conclusion in an appropriate way. Along with this, there are objectives of the whole
research as per its aim. All these can be understood by following points:
 To evaluate the effective implication of digitalisation concept on business organization.
 To assess the important tools used by the company with the aim of enhancing
profitability level. To determine the ways which helps business organization to attain competitive advantage
at market place.
Research Questions
It is also consider as an important elements which is related with the research objectives.
This will aid in determining the effective ways to accomplishing entire targets in most effective
manner. Along with this company also use new and innovative tools and techniques by which
firm attain positive results at market place (Foley, 2014). By this researcher easily determine
ways to attaining positive outcomes in most effective manner. All these questions can be
understood by following points:
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 How to evaluate the effective implication of digitalisation concept on business
organization?
 What are the important tools used by the company with the aim of enhancing profitability
level?
 What type of ways which helps business organization to attain competitive advantage at
market place?
Literature review is one of the important and effective phase which is helps in increasing
the possibility of attaining favourable results. By this researcher easily draw a valid conclusion
which may leads in attaining positive outcomes. Along with this, it define different view and
opinion of authors which may leads in increasing the chances of improving the overall
performance of the project. In this context, investigator use secondary resources for collecting
relevant data and information form the various respondents. This will helps in improving the
overall performance of the research by taking right decision (Hashim, 2015). Basically, it is
effective discussion on its objectives which may leads in attaining positive outcomes. All these
helps in enhancing overall performance level of this company and at the same time also aid in
capturing larger market share.
Evaluate the effective implication of digitalisation concept on business organization
According to Aboelmaged, (2014), concept of digitalisation play vital role in business
because it helps in providing various ways to enhance profitability level of the company at
market place. By using digital technologies company easily serve quality services to their
customers as per their requirements which may directly contribute in increase customers base.
As Mr. John Watches also wants to enhance their profitability level by using advanced
technologies. By using this company reduce the chances of arising any kind of issues and
obstacles. Along with this firm also manufacture quality and variety products to their customers
in order to provide them better satisfaction. This will helps in increasing their customers base. In
addition of this, the main advantage of implication of digital technologies is that, it save both
time and cost which contribute in attaining increasing the profitability level of the company at
market place. On the other side, concept of digitalisation also helps in increasing the workers
skills and knowledge by which employees easily handle their customers and provide them better
satisfaction.
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According to Zhang and Gregory, (2011), implication of digitalisation concept is
beneficial for business organization as it provide various opportunities in which company can
easily enhance their productivity level at market place. It includes innovation, creativity and
many more which contribute in connecting with their target customers. Along with this, it also
contribute in determining future opportunities for company to expand their operational activities.
With the help of this, firm can easily established their positive brand image at market place. The
concept of digital is growing connectivity of people, machine within the company. For stay
competitive, company have to effectively make better connection with their customers. AS it
help in increasing the positive image of the brand at market. As concept of digitalisation holds
number of opportunities for company to established their competitive image. In this context,
Collaboration, Cloud computing, mobility and many more are the major tools which adopt by the
company to attain success at market place.
Important tools used by the company with the aim of enhancing profitability level
As per the point of view Baller, Dutta and Lanvin, (2016), every business organization
wants to enhance their profitability level. In which firm use various tools and techniques within
their manufacturing process in order to produce quality products and services for their customers
which may leads in creating strong customers base within the business. In addition of this
development is also helps in attaining competitive advantage which directly contribute in overall
success of the company at market place. In this some major tools which used by the company for
managing their long term sustainability at market place: New and advances technologies: For attaining better success at market place, it is
important for business organization to use advanced technologies which may helps in
attaining profitability level at market place by providing quality products to its customers.
 Better recruitment and selection: It is also important for company to hire talented
workers to perform their specific roles and responsibilities at workplace. With the help of
this firm attain higher success at market place.
As per the point of view Wagner, Beimborn and Weitzel, (2014), business organization
use various digital tools to enhance their profitability level. It also contribute in increasing the
chances of capturing larger market share of the company by delivering quality products and
services. All these can be understood by following points:
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 Social media: It is one of the important tool for business organization through which
company can easily interact with their customers and also provide them services as per
their needs and wants. As it includes various applications such as Facebook, twitter,
LinkedIn and many more. All these help in increasing the chances of attaining
competitive advantage from its rivals.
 Mobile technology: As per today's scenario, each and every person use mobile
technology, thus it is beneficial for company in which Mr. John can easily communicate
with their customers and understand their needs and wants towards the company products
and services. This will increase the chances of attaining higher profitability level in
market place.
Ways which helps business organization to attain competitive advantage at market place
According to Boumgarden, Nickerson and Zenger, (2012), every business organization
tries to attain competitive advantage at market place by using advanced technologies within their
activities which may leads in attaining customers satisfaction by providing them quality services.
As per changing needs customers needs and wants are also changed so that company is
responsible for making their production process is more effective for manufacture quality
services. In this context there some ways in which firm enhance their profitability level by
executing all the activities in systematic manner. Concept of digitalisation helps in managing all
the resources of management effective enhance their profitability level. Along with this, it also
helps in handling all the customers complaints in appropriate way which may leads in attaining
their higher satisfaction. This will directly contribute in attaining higher success at market place.
It also helps in offering quality products and services to its customers as per their needs and
wants which directly contribute in attaining better success at market place. In this context there
are some effective ways which help organization to attain competitive advantage:
Understand about customers: It is an effective way by which company can easily
establish their competitive image at market place. For attaining the same, Mr John Watches
conduct an effective survey in which they understand their customers needs and wants towards
its products and services. This will directly contribute in improving the base of satisfied and
loyal customers. This is the main reason that company can easily capture market share and attain
competitive advantage from its rivals.
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Look at competitors: It is also an appropriate way which help business organization to
attain advantage from the competitors that serve products in same industry. In this, company
needs to analysis competitors products quality, price, strategies and many more. This will help in
increasing the chances of attaining competitive advantage from its rials.
Modification in existing products: For achieving the competitive advantage, company
needs to modify their products as per continuous basis by keeping digitalization in mind. With
the help of this, Mr John Watches can easily invite large number of customers towards its
products and services. This will also contribute in attaining competitive advantage for its
competitors at market place.
P2 Research methods and approaches to primary and secondary research
Research methodology is one of the important aspect in entire research as it helps in
determining the ways to undertake an effective research. In this context, there are various type
of methodologies and approaches which helps in executing all the activities for attaining set
goals and objectives. In this context, there are two type of research systems which helps in
managing entire activities of the research in most effective manner.
Qualitative Research: It is one of the important aspect as it refer to scientific method
which helps in providing an effective solution of the issues in order to attain set goals and
objectives (Baller, Dutta and Lanvin, 2016). Along with this, it is more subjective which evaluate
by the research as it highly based on numerical ground.
Quantitative Research: It is also an effective strategy which helps in discovering the
outcome in exploratory frame. Along with this, it is concerned with hypothesis in which
researcher easily determine the relationship between one thing and another as well.
Primary Method: It includes new and innovative process which used by the researcher to
carry out an effective research. As it is original in nature through which investigator can find
solution of the problem. It includes interview, questionnaire, survey and many more.
Secondary Method: This type of strategy is also beneficial through which researcher take
right decision in appropriate time frame. In this context, it refer to the data which is collected by
another person for carry out the research. This will helps in drawing valid conclusion in effective
way.
Sampling- It is an important element of research project which is relate with subset of
population in which researcher assess as well as examine the data in appropriate way. In this
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probabilistic and non-probabilistic sampling are two effective techniques by which researcher
conduct an effective research (Glaeser and et. al., 2018). In this researcher use probabilistic
method to use random sampling select sample size with the purpose of collecting relevant data.
Along with this, investigator select 30 respondents who give their views and opinion towards the
company products and services. In this, researcher choose all the 30 respondents from the local
population. Along with this all the respondents are potential customers who are consume
company goods and products. In this customers are share their experiences which may help
company for enhancing their product quality. In addition of this, sampling collected from the
larger population which may helps investigator to draw a valid conclusion in systematic way.
P3 Conduct primary and secondary research by using appropriate methods and techniques
Research play vital role in providing effective data and information by evaluating issues
of previous task of the research. Along with this, research provide direction to the investigator to
implement all the activities with the purpose of drawing valid conclusion. In this context, there
ate two type of source such as primary and secondary data which helps in gathering data in an
appropriate frame. Both are important for investigator to collect relevant data and information in
effective manner.
Cost- It is also an effective aspect which is important for all the of business organization whether
it is small or large as well. Thus, it is important for researcher to carry out proper funds and
capital to evaluate all the research activities. As the cost of the project is not so much high so that
researcher select 30 respondents to carry out relevant data and information as well (Griffin,
2013.).
Ethical issue- At the time of conducting research, investigator may face various issues. Thus it is
important for them to manage all the terms in effective manner which may leads in attaining
positive outcomes (Goto and et. al., 2014). In this time and cost are major problems which arise
at the time of collecting information. Along with this, it is important for researcher to keep their
information confidential which may leads in increasing the chances of attaining set goals and
objectives in appropriate way.
QUESTIONNAIRE
Name:
Age:
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Gender:
Contact Number:
Q1) Is digital technologies are beneficial for increasing the profitability of the company?
 Agree
 Disagree
Q2 What kind of tools and techniques are used by people for completing their work as per
modern era?
 High Speed Internet
 Laptop
 Tablets
 Mobile phones
Q3 What type of benefits of digital technologies are attain by society and economy as
well?
 Higher market shares
 Enhancing productivity
 Brand Awareness
 Gaining competitive advantages
Q4) Which kind of digital tools are beneficial for firms in order to expand their business
activities?
 Merging two small business
 Recruiting employees all around the globe
 Retention of talented employees
Q5) Which kind of products are effective for business organization?
 Head Phones
 Mobile phones
 Laptop and computers
Q6) How digital technologies are effective for attaining better growth and development in
economy of the nation?
 Easy Communication
 Information sharing
 Advancement in tools and technologies
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Q7 Which kind of initiatives are taken by government of the nation for implementing new
and innovative technologies?
 Reduction in tax rates
 Proper arrangement of funds
 Introducing new and innovative techniques
Q8) Is it is important for company to provide better training and development programs
for implementing new and innovative at workplace?
 Yes
 No
Q9) Is all the products of company is satisfactory for customers?
 Yes
 No
Q10) Any recommendation for Mr. John Watches to improve their performance level.
P4 Apply appropriate analytical tools, analyse research finding and data
Data analysis is play vital role in carry out the entire study in appropriate manner. As it
provide guidance to the research at the time of drawing valid conclusion. With the use of data
analysis, investigator can easily attain positive outcomes and at the same time also make valid
conclusion.
QUESTIONNAIRE
Q1 Is digital technologies are beneficial for increasing the profitability of the
company?
Frequency
 Agree 27
 Disagree 3
Q2 What kind of tools and techniques are used by people for completing their
work as per modern era?
Frequency
 High Speed Internet 8
 Laptop 5
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 Tablets 2
 Mobile phones 15
Q3 What type of benefits of digital technologies are attain by society and
economy as well?
Frequency
 Higher market shares 6
 Enhancing productivity 10
 Brand Awareness 8
 Gaining competitive advantages 6
Q4) Which kind of digital tools are beneficial for firms in order to expand
their business activities?
Frequency
 Merging two small business 5
 Recruiting employees all around the globe 7
 Retention of talented employees 18
Q5) Which kind of products are effective for business organization? Frequency
 Head Phones 2
 Mobile phones 18
 Laptop and computers 10
Q6) How digital technologies are effective for attaining better growth and
development in economy of the nation?
 Easy Communication 10
 Information sharing 2
 Advancement in tools and technologies 18
Q7 Which kind of initiatives are taken by government of the nation for
implementing new and innovative technologies?
 Reduction in tax rates 10
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