Identifying Digital Technology's Impact on SME Growth: Harrods Ltd

This report examines the impact of digital technology on the growth and innovation of small and medium-sized enterprises (SMEs), using Harrods Ltd as a case study. It begins by outlining the project's aims and objectives, focusing on understanding how digital technologies can enhance business operations, marketability, and competitiveness. The report then delves into the project management aspects, detailing tools such as cost analysis, time frames, scope definition, quality control, communication strategies, risk assessment, and resource allocation. A detailed project plan, including time frames and stages for completion, is presented, supported by a Work Breakdown Structure, Gantt chart, and network diagram. The report further explores data collection methods, distinguishing between primary and secondary data, and includes a questionnaire analysis with thematic interpretations of manager responses. Finally, a comprehensive project management plan is discussed, followed by a critical evaluation of the project management process and research methods, highlighting the significance of digital technologies for Harrods Ltd's business performance.

MANAGING BUSINESS
SUCCESS

TABLE OF CONTENTS

TOPIC
“To identify the impact of digital technology supporting SME growth and innovation - A
case study on Harrods Ltd”
INTRODUCTION
Digital technology influences productivity and profitability of company positively. The
current assessment is based on understanding several aspects of project management for Harrods
Ltd regarding using digital technologies for its business operations. In this regard, project plan
for adopting digital technologies for the small scale enterprise is discussed. Moreover, research
methods for data collection and analysing company's performance will be introduced in this
assignment. However, recommendations for project management and meeting goals are
understood for effectiveness of Harrods Ltd.
TASK 1
LO 1
P1) Project aims and objectives
It is essential for any company's growth to adopt digital technologies during business
operations. In this regard, profitability, marketability and competitiveness of the entity (Adhikari
and et.al., 2014). However, aim and objectives of project on identifying the importance of using
digital technologies for Harrods Ltd:
Aim of the project:
“To understand the impact of using digital technology supporting small scale entity's
growth - A case study on Harrods Ltd”
Objectives:
 To identify the usefulness of using digital technologies in business operations
 To evaluate the impact of adopting digital technologies on development of Harrods Ltd.
 To understand the influence on marketability and competitiveness of entity by using
digital technologies
 To recommend for project management and adopting digital technologies for Harrods
Ltd.
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P2)
It is required to consider different tools and aspects for project on using digital
technologies for business operations of Harrods Ltd (Ahlemann and et.al., 2013). For instance,
cost incurred, time frame, quality of products and services, communication and so on. In
accordance with this, some tools for managing project are to be identified as follows:
 Cost: For managing project, it is planned that how cost is to be incurred for digital
technologies and implementing business activities (Baldi, 2014). Along with this,
different ideas are generated for allocating fund as well working for further project.
However, expenditures incurred on purchasing materials, labour costs and additional
overheard are planned. Likewise, it is effective for appropriate planning in relation to cost
incurred on project for using digital technologies for Harrods Ltd.
 Time frame: It is identified that project planning includes time frame as accomplishing
any specific task in particular determined time (El-Hajjar and Hanzo, 2013). For
example: conducting survey in 2-3 weeks, implementing project plan for 5-6 weeks and
so on.
 Scope: This project on using digital technologies for development of small scale
enterprise has scope of increasing productivity and profitability of firms at higher level.
In accordance with this, it will be effective for appropriate decision making and
contacting with people (Iwamoto, 2013). Likewise, project is on understanding the
usefulness of digital technologies for business performance of Harrods Ltd. However,
project management aspects and different tools are recognised for enhancing small scale
entity's effectiveness.
 Quality: It is a factor for analysing the quality of materials and resources used in project
management in terms of digital technologies and business operations (Kerzner, 2013).
Likewise, it is efficient for project and managing all resources for enhancing the
efficiency of Harrods Ltd. Thus, quality used in project and different factors are
identified for planning and managing entire resources and funds efficiently.
 Communication: It is a two way process for expressing and sharing ideas and
information from one place/person to another (Mir and Pinnington, 2014). However, for
project management, it is essential to discuss all planning and project stages with team
members. In accordance with this, good coordination among workers can be identified
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towards accomplishing tasks and meeting goals effectively. However, communicating
cost, planning and tact for project is needed for adopting digital technologies to develop
the business performance of Harrods Ltd. effectively.
 Risks: Therefore, analysing these risks and back-up plan are required for managing
project and reducing issues occurred in it (Popaitoon and Siengthai, 2014). However,
variety of ideas is generated for project planning and getting success to adopt digital
technologies for Harrods Ltd.
 Resources: Different resources are identified for project management like finance,
people and equipment used for implementing digital technologies and so on (Schwalbe,
2015). In accordance with this, all resources are identified as well as planned for
accomplishing the tasks effectively. It is beneficial for optimum utilization of resources
and fund for project and getting success in using digital technologies for business
operations of Harrods Ltd.
P3) Time frames and stages for project completion
Time frame is referred as setting a specific time for accomplishing any particular task of
project at rightly (Tekalp, 2015). Therefore, for all stages and project planning, systematic
timing is set for project on using digital technologies for development of Harrods Ltd. In this
regard, time scale is set for the project is identified as follows:
Table 1: Project plan
Plan Activity Cost Time frame
Preparing project plan All plans are created
including targets for
project on identifying
importance of using
digital technologies for
Harrods Ltd.
100 1 week
Data collection
(Survey with 10
managers)
Conducting survey
with 10 managers on
analysing significance
200 2-3 weeks
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and working for
managing project
Data interpretation Respondents' views
are analysed for
project management
and adopting digital
technologies for
business operations of
Harrods Ltd
100 1 week
Discussion Discussion on findings
is done for project and
implementing
strategies effectively
100 1 week
Working for project All project plans are
implemented for
entity's growth
efficiently
500-600 4-5 weeks
Performance
evaluation
Actual and expected
performance is
compared for project
and getting success.
200 1-2 weeks
Taking feedback from
all team members
Feedback is taken
from each team
member for
participating in project
and working for
entity's growth.
100 1 week
Reporting Project planning 100 1-2 weeks
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process and
contribution of all
workers are reported.
Work Breakdown structure:
It is structural framework for presenting steps involved from project starting to closure
(Digital techniques influence in business activities, 2016). However, all stages for project plan
are mentioned for goal accomplishments and meeting goals effectively. However, WBS for
assignment on utilising digital technologies in growth of Harrods Ltd is to be identified as
follows:
Illustration 1: Work Breakdown Structure
Gantt chart:
It is structural framework of project plan which demonstrates all steps from starting up
project to its completion. In this process, all stages are presented in the form of days, weeks,
months and years (El-Hajjar and Hanzo, 2013). Likewise, vision and strategies to be
5

implemented for project are evaluated systematically for goal accomplishments and getting
success in project plan effectively. In accordance to this, Gantt chart for project on understanding
significance of adopting digital technologies for Harrods Ltd's growth can be presented as below:
Illustration 2: Gantt chart
Network diagram:
Network Diagram structural framework is to express connections of project actions with
both (Mir and Pinnington, 2014). However, all stages and process for project are to be identified
through network diagram as follows:
Illustration 3: Network diagram
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Time schedule:
M1) Comprehensive project management plan
It is essential to plan for all aspects for project management on using digital technologies
for Harrods Ltd. In this process, cost incurred, time consumed, people involved in project etc.
However, different ideas are generated for project completion and allocating resources/fund
effectively. Including this, quality and quantity to be used in materials, human resources and
impact of other factors are analysed (Popaitoon and Siengthai, 2014). Therefore, comprehensive
project management plan includes entire aspects and tools for completing tasks and improving
entity's business performance at maximum level.
D1) Critical evaluation on project management process and research methods
It is recognised that by following on entire project management will be effective for
completing tasks and increasing efficiency of Harrods Ltd. In this regard, profitability and
competitiveness of small scale entity can be enhanced on larger scale (Baldi, 2014). The lack of
funds and resources will be affecting operations of business and that of working on project as
well. The lack of coordination within members of team will not allow project to achieve its target
and would also be impact in negative way. However, occurrence of uncertain changes disturbs
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Illustration 4: Time schedule for project

project's planning as well new risks for the small scale unit. Therefore, it is required for entity to
consider project plans and formulating strategies related to effectiveness of the enterprise.
TASK 2
LO 2
P4)
Data collection is a process of analysing actual performance of the entity and further
decision making to achieve its effectiveness. It is done through research on primary and
secondary level which can be understood as: Primary data collection: Primary data collection is that types which will be include
various surveys and observations which are either conducted based on email to
participants or face to face interviews as well. Therefore, actual business performance can
be analysed which has no link with performance of business in the last year as well future
intentions. In this regard, investigator is to conduct investigation with 10 employees of
Harrods Ltd regarding importance of implementing digital technologies for effectiveness
of the small scale unit. It includes qualitative and quantitative research for conducting
survey (Iwamoto, 2013). Where, for qualitative research, views, opinions and ideas of
respondents are analysed while under quantitative research process, data are collected
quantitatively as in numbers for identifying business performance of the entity.
 Secondary data collection: Research method, information are gathered through using
already conducted investigations or information which are published (Adhikari and et.al.,
2014). For instance; reading articles of books, magazines, using social networking
platforms etc. Thus, business and market performance of the entity can be observed on
which further decisions are made.
Questionnaire:
It consists of list of questions for asking with participants involved in survey method.
However, variety of ideas is created for balancing entire business operations and improving it
effectively (Smith and et.al., 2015). Therefore, by collecting respondents' views, appropriate
decision can made for effectiveness and growth of the entity. In this regard, prepared
questionnaire by asking 10 employees of Harrods LTD
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Data interpretation (Thematic analysis):
Managers' opinions on using digital technologies for growth of Harrods Ltd can be
interpreted thematically as:
Theme 1: Business performance of Harrods Ltd using digital technologies
Yes 8
No 2
Total number of
respondents 10
Interpretation: In the beginning, investigator requests about employees opinions on
influence on performance of business using digital technologies for Harrods Ltd. It is evaluated
9
Yes No
0
1
2
3
4
5
6
7
8
Column C
Illustration 5: Business performance of Harrods Ltd using digital technologies

that 8 out 10 respondents respond positively on its usefulness. However, they also express that it
is operative for implementing and enlightening business operations of the business effectively.
Theme 2: Managers who agreed on asked statement
Agreed 4
Strongly agreed 3
Disagreed 2
Strongly disagreed 1
Total number of
respondents 10
Interpretation: In this investigation, researcher gathers amount of agreed and disagreed
managers through declaration of practicality of digital technologies for refining organisation’s
performance. Here, in pie graph, blue colour presents number of agreed managers, orange for
10
4
3
2
1
Agreed
Strongly agreed
Disagreed
Strongly disagreed
Illustration 6: Managers who agreed on asked statement