Impact of Digital Technology on Business Growth and Innovation

This report examines the impact of digital technology, particularly Artificial Intelligence, on the growth and innovation of Continental Consulting Limited, a research and business consultancy. The report details the project's aims, objectives, and background, including the company's challenges with traditional business models and the need for digital tools. It includes a project management plan covering cost, scope, time, quality, communication, risk, and resources. A work breakdown structure and Gantt chart are also presented. The research methodology involves qualitative and quantitative approaches, including questionnaires, interviews, and surveys. The analysis focuses on identifying the necessity of digital techniques, the significance of modern tools within the IT sector, and the impact of AI on production, growth, and innovation. The report concludes with recommendations based on the research findings and a reflection on the project's process and outcomes.

Managing Successful
Business Project

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P 1 Project aims and objectives.............................................................................................1
P 2 Project Management plan.................................................................................................2
P 3 Work breakdown structure and Gantt chart.....................................................................5
TASK 2............................................................................................................................................6
P 4 Small scale research.........................................................................................................6
TASK 3............................................................................................................................................8
P 5 Analysation of research using suitable tools & techniques..............................................8
P 6 Recommendation............................................................................................................14
TASK 4..........................................................................................................................................15
P 7 Reflection.......................................................................................................................15
CONCLUSION .............................................................................................................................16
REFERENCES .............................................................................................................................17
LOGBOOK....................................................................................................................................18

INTRODUCTION
Digital technology has become an indispensable part of each and every organisation in
this modern world since it contributes in their growth and development. But in past years,
companies were not able to reach their goals since in those days firm's owners were taking use of
traditional business models (Stoshikj, Kryvinska and Strauss, 2014). By the introduction of
digitalised tools & techniques, it is seen that most of the small and medium sized enterprises are
accomplishing their commercial activities in easy as well as appropriate manners. The present
report is designed for depicting the impact of digital technology on the growth and innovation of
small businesses. In this context, an enterprise named as “Continental Consulting Limited” is
considered which is a research and business consultancy. The influences of introducing modern
technologies in their workstation is explained in this report. Aim and objectives are constructed
by the research team along with Gantt chart. In addition to this, project management plan has
also been designed here for taking appropriate decision in context to achieving goals of
company.
TASK 1
P 1 Project aims and objectives
Topic : “To determine the impact of Artificial Intelligence upon production and growth of
organisation : A case study on Continental Consulting Limited ”.
Background of project :
Continental Consulting Limited was established eight years ago and is famous for
offering latest equipments, computer and Information & Technology facilities during that time
period. This company is headed by Mario Bindas who is working at the designation of Chief
Executive Officer (i.e. CEO). There are around twenty two researchers and expert consultants
within the organisation. These members are giving their best in reaching the ambition of their
corporation. Besides their hard labour, commercial activities of Continental Consulting Limited
are not improving due to the absence of digital tools and techniques (Smith, Gonin and
Besharov, 2013). The technologies on the other hand; key competitors are increasing day by day
and this firm is loosing its control from IT industry. Rivals are manufacturing innovational goods
or services so as to capture whole market. Thereby, in order to maintain a strong position in
current marketplace, company should use digital technologies for manufacturing unique products
1

and deliverables in comparison to their challengers. Artificial Intelligence can be used as modern
technique since it assist in developing innovative merchandises or services. By introducing this
technology, organisation can completely change its production style. This would help them in
preparation updated goods specially related to computer and IT sector. As a fruitful result, they
become able to give strong competition to their key competitors by seeking attention of large
number of customers towards their innovational products.
In this regard, deputy head of business research and section head started working
together and designed specific aim and objectives of their new project which is listed below :
Aim : “To determine the impact of Artificial Intelligence upon production and growth of
organisation : A case study on Continental Consulting Limited ”.
Objectives :
 To identify the need of introducing digital technology in Continental Consulting Limited.
 To elaborate the importance of modern tools within IT sector.
 To ascertain the influences of using Artificial Intelligence over production department of
company
 To analyse the impacts of Artificial Intelligence upon growth level and innovation of
organisation.
Research Questions :
 What is the necessity of using digital techniques within Continental Consulting
Limited ?
 What is the significance of modernised tools and techniques within IT industry ?
 What are the effects of utilising Artificial Intelligence over production division of
Continental Consulting Limited ?
 What are the impacts of Artificial Intelligence on growth and innovation of venture ?
P 2 Project Management plan
Before taking any decision regarding executing digital techniques at work premises, it is
important to create a proper project management plan. This assist in deciding about what should
be done and how much money will be required in making an effective project. In addition to this,
such plans also depicts various other vital aspects such as time, communication, risks, resources,
scope and quality required while preparation of a good project. The deputy head of business
2

research and section chief who are performing under Continental Consulting Limited is also
made an appropriate project management plan. The important aspects are highlighted below :
 Cost : This is considered as one of the fundamental prospect since without estimating
about costing; a company can face several conflicting situations in future. Therefore,
Continental Consulting Limited should conclude or determine about the approximate
investment required in introducing Artificial Intelligence at their working site. Researcher
has found that the company may need around $45'000 to $ 110'000 (Bakker and et. al.,
2013). Thus, it can be said that implementation of modernised application is quite
expensive in nature. Therefore, firm should focus on limiting their additional expenditure
so that they can save huge amount of money and invest the same in improving their
business actions.
 Scope : This term clarifies the importance of particular projection by exploring about its
use and need in upcoming days. The present report is documented on the theme of using
digital methodologies which is currently existing in trend of corporate world. This will
prove to be beneficial for Continental Consulting Limited ; since they can enhance their
productivity along with maintaining quality and manufacturing innovative goods by
executing the strategy of utilising digital tools (Basu, 2014). This venture is going to use
a popular & modern application known as Artificial Intelligence which assist them in
designing innovational merchandises and facilitates. Thus, a fruitful result CEO of firm
can seek attention of large number of customers towards their deliverables and can easily
make increase in selling rate. Hence, it can be said that the scope of this project is wide as
it will help corporation in attaining growth and improvement in present as well as
upcoming days.
 Time : This is treated as another vital aspect for completing a task. A specific time limit
is consumed in accomplishing any work. But this is to be noted that such activity should
be finished before allocated dead line. Therefore, chief of section and head of
investigation department performing at Continental Consulting Limited ought to decide a
rough timing for beginning as well as ending their determined projection. According to
the view point of investigator, if company is going to use Artificial Intelligence in
producing innovative goods and services, then they may need approximately 2. On the
3

another side, current process of theoretical documentation would take around 5 to 6
weeks.
 Quality : Every firm should manufacture quality based products or deliverables since it is
the only thing which creates feeling of satisfaction in users. People even are ready for pay
more amount if they are satisfied by the standard or quality of services provided to them.
This is to be noted that generation of superior class goods and facilities is possible only
when appropriate idea and strategy will be depicted in the report of project (Hall, 2011).
A single mistake while documenting may cause serious risk associated with
manufacturing for organisation, since worker would carry on their performances by
examining the documented aspects. Hence, it can be stated that Continental Consulting
Limited should also maintain high quality while collecting information regarding
executing the digital strategies.
 Communication : At the time of taking decisions, important members working under
corporation used to participate. Thus, effective communication must be occurred amongst
those participants. If people would not share their opinions as well as vital facts or figures
affiliated with the project then entire labour of implementing modern tools may go in
vain. This happens because most of the workers are not aware about relevant data, thus
their work is considered as incomplete and wrong also. Thereby, Continental Consulting
Limited ought to create a transparent environment wherein each personnel are informed
by every changes and implementation of particular scheme. According to acquired report,
staffs may carry on their work in better manner and contribute well in achieving agenda
and objectives of association.
 Risk : This is treated as obstructor and hindrances which occurs while making any
change or doing any work. Risky factors resist in accomplishing every mission. As
Continental Consulting Limited wants to introduce Artificial Intelligence in their work -
premises, lots of risks may generate the way of attaining success (Harish and Kumar,
2014). Few risks include random accidents of workers, creation of inappropriate
products, disappointment in customers, etc. Thus, company should focus on removing
these problems by adopting proper solutions. For instance, managers existing at
workplace ought to arrange training and development classes for their workforces in
order to enhance talents and skills in them. After that, they will be able to eliminate any
4

risky elements and work appropriately. Number of sudden accidents may also decreases
from the spreading of knowledge regarding how to use modern machines. This will
proved to be beneficial for the researcher as well as the whole organisation since removal
of risks may increase the probability of attaining success.
 Resources : This term is related to assets which are used by ventures in carrying on
certain task. Some of the basic resources required by Continental Consulting Limited are
human resource (i.e. employees), financial resource (i.e. revenue), technical resources
(i.e. computers, machineries, etc.), raw materials and many more. It is responsibility of an
employer to make arrangement of these resources so that work can be started effectively.
In addition to this allocation of resources should be done in right hands by observing their
job roles and duty so that optimum utilisation of assets can be done.
P 3 Work breakdown structure and Gantt chart
A work breakdown structure can be defined as a tool which helps in splitting the
activities of management so that the work can be done in an effective manner. Through this, the
work is being completed in an appropriate manner and gets completed on time as well.
On the other hand, Gantt chart is that tool which helps the company in knowing various
information about activities that will be conducted in the research project. It is really helpful for
the company as through this the tasks are completed on time.
5

TASK 2
P 4 Small scale research
Research is commonly done for aggregating authentic information regarding a specific
topic. There are mainly two methods of collecting appropriate data that is qualitative and
quantitative. Deputy head of business research has used these methodologies in accumulating
information associated with the theme of project. These methods of small scale investigation are
described below :
 Qualitative research : This method is applied when researcher want to know about the
personal views and opinions of common public on specific subject. It is considered as an
6

eminent technique of investigation since by conducting qualitative researches,
investigator may easily understand the perception of civilians living in nation. Data
collected by utilising this method is known as fresh facts as no one has previously
explored the same info (Kowalkowski, Kindström and Brehmer, 2011). Questionnaire,
interviews, surveys, etc. are some of the primary sources of aggregating proper
information by applying qualitative research methodology.
 Quantitative research : This is totally different from qualitative one since it is used in
collecting numerical facts & figures. Researcher generally use statistics (i.e. a branch of
mathematics) in analysing and getting appropriate results. This methodology is
implemented when there is presence of large sample size. Questionnaire is also used here
but the graphical representation is done in statistical form.
 Primary researches : This methodology is mostly used by team of research since it
provides logical data and thus give clear interpretation to investigators. This is to be
noted that primary research commonly falls under the group of qualitative research
methodology.
 Secondary research : When researcher want to observe the views and ideas of other
scholars on certain topic, then they can select secondary sources of data. Newspaper,
journals, official websites, magazines, past researches, books, etc. are being utilised in
accumulating proper and useful data (Hwang and Ng, 2013). Deputy head of business
research concentrates on the secondary sources of data in order to know facts affiliated
with digital-strategies which are already presented by some scholars, researchers and
authors.
Note: In this project, qualitative research methodology has been used by the investigator.
Questionnaire is being created by researchers as they wish to become familiar about the thinking
of common pubic regrading their decision of introducing digital technology. Herein, 20 is taken
as sample size. In this researcher use non-probabilistic to select respondents. With the assistance
of this, researcher can easily gather relevant data and information towards the particular area.
Questionnaire
Name :-----------------------------------------------------------------------------------------------
Age :--------------------------------------------------------------------------------------------------
7

Gender :----------------------------------------------------------------------------------------------
Q 1. Do you think that introducing modern techniques is beneficial for Continental Consulting
Limited ?
 Yes
 No
Q 2. Is digital technology contribute in improving the growth level and innovation of mentioned
organisation ?
 Yes
 No
Q 3. Which digital technique should be used by Continental Consulting Limited for producing
creative and unique merchandises ?
 Artificial Intelligence
 Big data analytics
Q 4. What do you think about the impacts of digitalisation upon the business of corporation ?
 Positive
 Negative
Q 5. What are the advantages of implementing modern tools and techniques at work premises of
company ?
 Gain in income
 Transformation of trade goods
 Manufacturing of quality based products or services
 Development and growth of entire venture
Q 6. Is there any draw back of using Artificial Intelligence for developing innovative
deliverables ?
 Yes
 No
Q 7. Propose furthermore plan of action for growing and improving the current level of
business of Continental Consulting Limited.
8

TASK 3
P 5 Analysation of research using suitable tools & techniques
Theme 1 : Advantage of using updated tools and methodologies at working site
Q 1. Do you think that introducing modern
techniques is beneficial for Continental
Consulting Limited ?
Frequency
Yes 17
No 3
17
3
Yes
No
Illustration 1: Survey data
Interpretation : Most of the responders are thinking that digital technology is profitable for the
Continental Consulting Limited since it helps in their growth and innovation. Around 17 person
has supported above written statements while 3 of them are not in favour of same.
Theme 2 : Contribution of modern techniques in enhancing the scale of innovation and
growth
Q 2. Is digital technology contribute in
improving the growth level and innovation of
mentioned organisation ?
Frequency
9