Managing Successful Business: Digital Technology Impact Report

This business report examines the impact of digital technology on business growth, focusing on the Victorinox company. The report begins with an introduction highlighting the benefits of digital technology in business, including increased revenue and improved efficiency. Task 1 covers project aims and objectives, outlining the goals and research questions, and then details a project management plan encompassing cost, scope, quality, time, communication, risk, and resources. A work breakdown structure and Gantt chart are also included to visualize project organization and timelines. Task 2 presents a small-scale research study using both quantitative and qualitative research methods, including a questionnaire design for primary data collection and a review of secondary data sources. Finally, Task 3 focuses on data analysis using appropriate tools and techniques and concludes with recommendations for Victorinox. The report emphasizes the importance of digital technology in business transformation and the need for effective project management and research to achieve business objectives.

Managing Successful
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives....................................................................................................1
P2 Project management plan that covers aspects of cost, scope, quality, time communication,
risk and resources........................................................................................................................2
P3 Work breakdown structure and Gantt chart...........................................................................4
TASK 2............................................................................................................................................6
P4 Small-scale research by applying quantitative and qualitative research methods.................6
TASK 3............................................................................................................................................8
P5 Data and research using appropriate tools and techniques....................................................8
P6 Communicate appropriate recommendations......................................................................17
TASK 4..........................................................................................................................................18
P7 Value of undertaking the research to meet stated objectives...............................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
.......................................................................................................................................................23

INTRODUCTION
Introducing the new digital technologies in activities of business is helpful in gaining
some competitive benefits from the market place. It provides many advantage to organisation
and also give its contribution in growth of the business. Technology is helpful in the business
transformation and it helps in increasing the revenue of company. This business report is based
on the Victorinox company and it deals in producing of watches. Digital technology gives an
opportunity to business company so that it can sustain at work place for long period of time in an
effective or better manner. Its main benefit to promoting services and products in a proper
manner for earning the more profit. Under this given report mentions about project management
plan which covers aspect of the scope, quality, cost and also resources. The business firm
conduct small scale research with the help of applying the qualitative and quantitative methods
of research for meeting with the objectives and also aims will be discussed under this report
(Andersson, H. and Tuddenham, P., 2014.Busarovs, A., 2011Kasemsap, K., 2016. Langer, A.
M., 2017).
TASK 1
P1 Project aims and objectives
In this present time period, with changing environment of business, demands and wants
of consumers are changing quickly. So it is necessary for each company to fulfil needs and wants
of customers in context to increase sales and achieve the more profit. In this, it is essential for
every business firm is to do its business activities by using effective technology. With the help of
this, company can sere the better services to consumers in a systematic or proper manner. In
context to this, each business firm need to determine appropriate or proper steps and develop
strategies by which they can do this business operations in advance. For promoting the business
activities or products, market department of Victorinox company uses print media, social media
and many other methods. Through this large number of people will be aware about the firm
services. On the other hand cloud technology provides company to store data or information and
then share from the one location to other in minimum period of time. Technology provides the
various number of channels related to communication so that Victorinox company can convey
value and advantages of products and services to the target consumers in an effective or better
manner. These all are helpful in enhancing effectiveness and efficiency of activities of company
1

and give contribution towards sustainability or development of an organisation. But at the time
of adopting new technologies , there will be need to Victorinox company for spending more
money on equipments and also machineries.
Technology is helpful in bring cooperation and coordination between business
operations. It helps top management in searching all deviations and then remove all of them in a
proper manner.
AIMS: “The impact of digital technology supporting small business growth and innovation”.
OBJECTIVES:
 To determine an impact of digital technology execution on business operations.
 To examine efficiency of digital technology using on activities and operations of
business.
 To evaluate requirements of transformation of business operations.
RESEARCH QUESTIONS:
 How digital technology impact on execution of digitalisation on business operations.
 What is efficiency of digital technology using on activities and operations of business?
 What are requirements of transformation of business operations?
P2 Project management plan that covers aspects of cost, scope, quality, time communication, risk
and resources
It is necessary for Victorinox company to develop effective or better plan related to the
project management in context to achieve the predetermines aims and goals in an effective
manner. Project management plan is a kind of formal document which is used to manage the
execution of plan. It explains that how project is implemented, controlled and also be closed.
Plan is helpful in doing work in a systematic manner and also administering correct path at the
time of execution of different activities in a proper manner. The organisation makes plan so that
all staff members can do this work in a systematic manner and also achieve organisational
objectives in a proper manner. It will be helpful in providing the long term advantage to an
organisation. Along with this, it is helpful for employer in managing the cost, risks, quality,
communication, scope etc. Generally, there is a requirement of developing project management
plan to make it successful and also useful. Under this kind of plan, Victorinox company wants to
develop its business operations on the online platform with the helps of using advanced or digital
technology. In order to this, it is necessary for this company to consider all given aspects:
2

Scope of project- From technology advancement, demands and preferences of
consumers changes quickly. Under this present scenario, there are several opportunities for
growth of small businesses which are sustaining business environment. It will be helpful in
getting more benefits to company for providing the more variety of goods and services to
consumers.
Risk management- In each business firm, risk in involved. In project, there are different
types of risk are consists. In order to this, it is essential for the Victorinox company to includes
all necessary factors which can cause the risk (Liebowitz and Frank, 2016). Before execution of
the project management plan, it is important for employer to evaluate all risks which is regarded
with the project so its impact can be minimised. In addition to Victorinox company, risk chances
are high as this company is not very popular in watch brand. It is essential for this firm to bear
more risks.
Cost- If the project will be big then their costs will also be high. In regards to this it is
essential for an administrator to arrange and also manage funds in a proper manner through
using the different sources. In context to implement project in a successful manner, company
should have more finance.
Quality control- Under this whole project, aspect of the quality is very important. If the
quality will be good, then in this case project will be effective. Under this, it is a duty of an
administrator to mange better products quality through involving effective or beneficial
components. Victorinox organisation provides better quality of watches to consumers and
maintain the same.
Time- For completion of specific products, there is a need of more time. It is necessary
for employer to keep maintain all activities which are necessary for completing project time.
Communication- It plays a necessary role in making the business successful. In addition
to this, firm need to select the effective channels of communication so that it can communicate
information and message to staff member as well as consumers in an effective manner (Lientz,
and Rea, 2016). Under this Victorinox requires to assure to make the strong communication
between all departments so that the project can executes in a proper manner. If the
communication among staff members will be proper then they all will work together and
complete project on particular period of time.
3

P3 Work breakdown structure and Gantt chart
Work breakdown structure- It is a project deliverable which organise work of team in
to the manageable sections (Michl, Gold and Picot, 2012). Under this, company divide the
projects in to the manageable and simpler tasks. With the help of this employers can work in a
easy manner and they can focus on achieving the aims and objectives of an organisation. In order
to implementing project in an effective manner, project manager uses this kind of method.
Illustration 1: Work break down
structure
The main benefit of conducting a research is to assist an organisation in gathering more
amount of information and data which is concerned to consumer's preferences which facilitates
management in order to making effective decisions related to increase of business organisation
activities. In order to execute the activities of research in a proper manner, it is essential for
researcher to prepare a proper action plan what an administer guide to a researcher. There are
some steps are consist in research which are given below:
 Determination of aims of research.
 Literature review
 Determine problems
 Explain concept of project
 Choose sample size
 Prepare plan
 Analysis data
Under research, these all steps are included (Nograšek, 2011). This kind of research is
depend on the technology transformation.
4

Gantt chart- It is a kind of bar chart which illustrates the schedule of project. It is helpful
in plan project and also explain about the tasks sequencing which are necessary for completion.
It shoes dependency relationship among activities and also the present status of schedule.
Illustration 2: Gantt chart
Victorinox business firm do its business activities in a proper manner and also expand its
business activities in a better way. In order to implementing digital technology in business in
proper manner, it is necessary for Victorinox company to develop a proper or systematic plan
and from this, it can achieve its decided targets in an effective manner.
5

TASK 2
P4 Small-scale research by applying quantitative and qualitative research methods
In order to draw a valid conclusion, it is essential for an organisation to conduct the
research in a proper or systematic manner (Rose and et. al., 2015). With the help of selecting an
effective approach, research can converted in to an analytical study which is easier for researcher
in context to better outcome in an efficient manner. Data collection is a necessary research part,
so under this researcher should choose a proper or correct method for this. Victorinox collect the
data with the help of many research methods. The main methods of data collection are primary
and secondary.
Primary data- Under this method, information and data is gathered by questionnaire,
interviews, surveys, observation and many others (Rumane, 2016). In addition to this, Victorinox
business firm design a questionnaire for 30 respondents so that company can collect the fresh
information in an effective or better manner.
6

Questionnaire
Name:
Gender:
Age:
Contact no.:
Email id:
Q1) Does digitalisation helpful company in increase its operations and activities in new
areas?
 Yes
 No
Q2) Does digitalisation is helpful in sustaining business of Victorinox for long time
period?
 Yes
 No
Q3) Does digitalisation impact on operations of business in a positive manner?
 Yes
 No
Q4) What method will you more prefer if the Victorinox company enters in the online
market?
 Visit store
 Online
Q5) Does digital technology is essential for Victorinox organisation for transform its
business activities or operations?
 Yes
 No
Q6) Which payment mode will you more prefer if you purchase online?
 Debit/ Credit cards
 Cash On Delivery
 Bank Transfer
Q7) Digitalisation impact on business operations in which manner?
7

 Positive
 Negative
 Can't say
Q8) Are you satisfied from the services as well as products of Victorinox business firm ?
 Yes
 No
Q9) Which marketing mode which should use by Victorinox in promoting its products or
services?
 Cost effective approach and modern approach of marketing
 Traditional mode of marketing
Q10) Any suggestion for Victorinox in context to rise business operations and activities
with help of digital technology.
Secondary data- There are various kinds of sources which are used through Victorinox
company for the purpose of data collection. This data is already used and the main sources of
gathering relevant data are newspapers, books, articles, magazines, journals and many more.
Case study- Generally, Victorinox business firm emphasize on producing innovative,
creative as well as unique products or services in context to attract more consumers. For attaining
the same, giving firm is pitting its full efforts on the regular basis (Tate, 2012). The main motive
of this company to increase profit level and also capture the large market share. With the helps of
adding the new specifications and also features in goods and services, company can attract the
large number of consumers and also enhance growth rate in an effective or better manner.
TASK 3
P5 Data and research using appropriate tools and techniques
Data evaluation refers to process which enable the business firm in measuring data or
information in an appropriate and better way. With the helps of using different graphs, charts and
also diagrams for the better understanding. It is the duty of manager of an organisation to collect
the right and relevant data or information and reach to the valid conclusion. It will be helpful in
taking the right and corrective decisions in favour of an organisation. There is a need to
Victorinox business organisation to interpret gathered information and also data in context to
8

take effective or corrective decisions for expansion of business (Turban and et. al., 2017). It is
necessary that result should be better and from this firm will sustain at market place for long
period of time in an effective or better manner.
THEME 1: Digitalisation helpful company in increase its operation
Q1) Does digitalisation helpful company in
increase its operations and activities in new
areas?
Frequency
Yes 22
No 8
Yes No
0
5
10
15
20
25
Frequency
Interpretation- From given graph, it has been stated that among the 30 respondents 22
people says that the digital technology is helpful in enhancing the business operations of an
organisation in an effective manner. It gives many different platforms to this company in order to
communicate more offerings with more people which increase courage of people to purchase the
9

product of company. On the other hand 8 people said that digital technology enhances the cost of
business.
THEME 2: Digitalisation is helpful in sustaining business of Victorinox
Q2) Does digitalisation is helpful in
sustaining business of Victorinox for long
time period?
Frequency
Yes 18
No 12
Interpretation- From above given graph, it has been concluded that about 18
respondents said that the digital technology provides long term advantages to an organisation. On
the basis of view point of respondents that digital technology gives different platforms to
company like for an instance Twitter, Facebook, Instagram and many other websites for
promoting its services or goods in the various areas. But rest 12 respondents said that digital
technology concepts do not give any type of long term advantages to business firm.
THEME 3: Digitalisation impact on operations of business in a positive manner
Q3) Does digitalisation impact on operations
of business in a positive manner?
Frequency
10
Yes No
0
2
4
6
8
10
12
14
16
18
Frequency