Impact of Digital Technology on Small Business Growth Report

This report examines the impact of digital technology, specifically the Internet of Things (IoT), on small business growth and innovation, using Continental Consulting Limited as a case study. It covers project management aspects, including scope, time, cost, quality, risk management, and communication, with a detailed project management plan and work breakdown structure. The report incorporates both qualitative and quantitative research methods to identify the benefits of IoT on business operations, analyze the relationship between IoT and connecting systems, and offer recommendations based on research and data analysis. The analysis includes Gantt charts to visualize project timelines and stages, and evaluates the value of the research in meeting stated objectives, ultimately providing a comprehensive overview of digital technology's role in business transformation.

Managing Successful
Business Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives...............................................................................................1
P2 Project management plan that covers aspects of cost, scope, time, quality, communication,
risk, and resources..................................................................................................................3
P3 Work breakdown structure and Gantt chart to provide time frames and stages...............4
TASK 2............................................................................................................................................7
P4 Small-scale research by applying qualitative and quantitative research methods............7
TASK 3..........................................................................................................................................10
P5 Research and data using appropriate tools and techniques.............................................10
P6 Recommendations as a result of research and data analysis...........................................18
TASK 4..........................................................................................................................................18
P7 Value of undertaking the research to meet stated objectives..........................................18
CONCLUSION..............................................................................................................................19
REFERENCES .............................................................................................................................20

INTRODUCTION
Digital businesses use the technology to develop new value in models of business,
consumer experience and also internal capabilities which support the core operations. Digital
technology helps in transforming business activities and operations in an effective manner. It is
branch of scientific knowledge that deals with development and practical use of the digital
systems, methods etc. Digital technology consists all kinds of applications as well as electronic
equipment’s which use information in terms of numeric data (Da Xu, He and Li, Stankovic,
2014). This present report is based on Continental Consulting Limited that works on Business
Process Re-engineering and existing consumers consists medium and small size manufacturing
organisation. Under this mention report there will be discussion about the project aims and
objectives. Project management plan that covers the various aspects such as time, cost, resources,
scope, quality and resources will be mention in given report. In this report, small scale
investigation is conducted by researcher through using qualitative and quantitative methods of
research in order to meet with objectives and aims of project.
TASK 1
P1 Project aims and objectives
In modern era, execution of digitalisation is necessary and helpful in transforming
business. Digital technology changes way of work and living of people because through use of
digitalisation people can easily carry out their working in specified time. Companies can attain
the significant innovation by use and deployment of digital technology. Under this, technology
for an instance artificial intelligence, machine language, collaboration, analytics, internet of
things etc. are helpful in improving effectiveness and efficiency for business form and its IT
operations. In today's competitive market, there is a need of emerging technology to enable
workforces and engage consumers. With the help of using digital technology, firms can conduct
its business operation with in less period of time (Bi, Da Xu and Wang, 2014). It enhances
effectiveness of workforce and engage large number of consumers towards company at the
market place. In addition to this, change is necessary to maintain the competitiveness as well as
attain performance objectives throughout company. The Internet of Things is a technology that
lead digital connectivity to different sensors and devices in business. It is system of the
interrelated computing devices, objects, people and digital machines which provided with the
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unique identifiers as well as ability to transfer information and data over network without needs
person -to- person or human-to-computer communication.
Topic: “The impact of digital technology supporting small business growth and innovation”.
Background
Internet of Things is ecosystem of the connected physical devices which are accessible by
internet. It can connect many devices embedded in different systems to Internet. Connectivity
helps in capture more reliable or accurate data from several places, assuring methods of
enhancing effectiveness and improving safety and security. It is transformational forces that aids
business organisations to improve the performance of company with the help of using IoT
Security and IoT analytics to give the better outcomes. Internet of Things can assess companies
to minimize cost by improve efficiency of process, productivity and utilization of asset (Riggins
and Wamba, 2015). Which makes improvement in tracking of objects or devices using
connectivity and sensors, organisations can get advantages from the real- time analytics as well
as insights which help to make smart decisions. Convergence and development of things, process
and data on internet will make connections more necessary, develop better opportunities for
business organisations.
Continental Consulting Limited is small size company and its main business us to
Business Process Re-engineering and existing customers involve small and medium production
firms. At beginning stage of this company, it procured computer, IT facilities and latest
equipment’s. In order to capture the large market share, this organisation use Internet of Things
technology.
Aim: To identify influence of 'The Internet of Things’ in connecting and integrating systems. A
Case Study on Continental Consulting Limited.
Objectives:
 To evaluate concept of The Internet of Things.
 To identify benefits of The Internet of Things on business of Continental Consulting
Limited.
 To analyse relationship among The Internet of Things and connecting systems.
Questions:
 What is the concept of The Internet of Things?
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 What are benefits of The Internet of Things on business of Continental Consulting
Limited?
 What is relationship among The Internet of Things and connecting systems?
P2 Project management plan that covers aspects of cost, scope, time, quality, communication,
risk, and resources
Project management plan is a document which manager uses for execution of project in
systematic manner. It is an important tool which is constructed by them to monitor and control
activities which are conducted for completion of project. This help management to overcome
issues which might occur while execution of activities. Scope, time, cost, quality, risk
management and communication are various elements which help manager in success of project
(Jin and et. al., 2014). These are components which are used by business person of Continental
Consulting Limited to enhance performance and construct strong brand image in market. Thus,
this is description of factors which are considered by project manager for success of project are
stated below:
Scope of project: With implementation of internet of things aid management of
Continental Consulting Limited to enhance business operations. This technique benefits
company to build strong brand image in respect to competitors. In addition of this, IOT have a
huge scope in which it provides a specific and unique opportunity for Continental Consulting
Limited to turn data into insights. As it improve sensors, connections of device and many more
that directly contribute in enhancing positive image of the company.
Time: Management require sufficient time for execution of activities properly, so that
project is accomplished within time allotted from top personnel. For this, schedule is formulated
in which tasks are arranged in systematic order for execution of favourable outcomes. Along this,
manager give direction to subordinates to make them perform operations and complete project
within defined time frame (Fang and et. al., 2014). Management of Continental Consulting
Limited uses internet of things which aid them to utilise time properly. This technique helps
them to communicate to public about consultancy services. Along this, employees are easily able
to connect and maintain relations with clients. The time period which is required effectively
implement IOT is around 6 months.
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Cost: It refers to the total amount which is essential for completing every project. Proper
funding supports project manager to perform all activities in the given period of time effectively.
It is required by every project manager to formulate appropriate budget plan for the purpose of
determining actual expenses and revenue while executing project. Internet of things help
manager of Continental Consulting Limited to utilise resources and reduce expenses. As it helps
in accomplishing project process smoother. In addition to this, preparing budget also guides the
project manager to not waste money on non - essential works.
Particulars Amount
Initial investment 100000
Expenses:
Research and developmental activities 25500
Operational expenses 15600
Cost to IT experts 21500
Maintenance 16400
Licensing fee 6000
Closing value 15000
Quality: Quality refers to the features of product which have ability to satisfy needs of its
user. It is essential for every project manager to focus on the quality as it helps in reflecting
ability of organisation at market place. In context to Continental Consulting Limited, this
company performs their business at small level (Tsai, and et. al., 2014). Manager of this
company majorly emphasize on providing quality services to its customers for developing
positive relationship with them. This helps company is increasing number of satisfactory
customers. IOT is tech logical based aspect which is required to be implemented under the
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supervision of IT experts. As this will aid in compliance of all necessary requirements which are
related in effective establishment of IOT within the organization.
Risk management: It refers to identification of possible risk in advance, which are
further analysed in order to take preventive steps for minimising it effects. In relation to
organisation, every business contains various risky factors which affects activities of the project.
It is required by the project manager to evaluate all business activities so that risk can be
identified and reduced by using precautionary methods. This is helpful in every project as it
contributes in attaining positive outcome. According to the current project scenario, risk level is
quite so it essential for project manager to implement activities effectively. There are many risk
which are associated with the implementation of this technology. For example, high amount of
cost, training charges, employee resistance, Outdation of technology etc.
Communication: Communication is considered as the most essential part of every
business. It is required by every project manager to use appropriate communication channel
while interacting with team members in order to provide them relevant information of about
project (Ziegeldorf, Morchon and Wehrle, 2014). With help of internet of things, manager of
Continental Consulting Limited is able to construct connection with clients easily. Along this, it
also helps employees in completing all of their assigned task in systematic manner within set
time frame. To effectively implement IOT requires sound communication between the experts
and employees. Such communication help remove barriers and share views and ideas to make
the software implementation more profound. Formal communication is done on the basis of E-
mails and Other regular is done on one to one and telephonic-ally.
P3 Work breakdown structure and Gantt chart to provide time frames and stages
Work breakdown structure is tool that company use to explain the discrete work
components of project in a manner that assess to organise the work scope. It is a kind of
hierarchical tree structure that outline project and then break in to small parts or manageable
portion. It is project deliverable that organise work of a team in to manageable sections. The
Work break down structure is helpful in providing requited framework for the estimation of cost
and control in detailed manner. It aids in giving better guidance for preparations and control
schedule. If activities will divide in to small sections then employees will not face any issues in
completing activities and they will give their better performance (Ricci, Rokach and Shapira,
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2015). Purpose of Work break down structure is to minimize all those complicated activities
which can develop impact on task. In regards to this, it is essential for project manner to oversee
tasks over activities effectively as comparison to difficult activities, it is necessary that task
should be independent and measurable that defines limited in a clear manner.
(Work Breakdown Structure, 2017)
Gantt chart: It is most useful as well as popular methods of showing activities displayed
against the time. Every activity represented through bar, length and position of bar reflects start
date, time duration and end date of every activity. Continental Consulting Limited use Gantt
chart for track schedule of project. It is useful to able show extra information and data regarding
different phases or tasks of project. Gantt chart gives graphical illustration of schedule that assess
to plan, coordinate and also track the particular tasks in project. In order to complete project in
successful manner, it is necessary to control activities and also assure that they finished on
proper schedule (Weinberg and et. al., 2015).
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Illustration 1: Work Breakdown Structure

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TASK 2
P4 Small-scale research by applying qualitative and quantitative research methods
Research is explained as careful consideration of the study concerning specific issue or
using scientific methods. An investigator conduct research related to specific topic by using the
effective Qualitative and Quantitative research methods. It will help in provide the effective
outcomes. There are two different research methods mention below (Vermesan and Friess,
2014):
Qualitative method- It is scientific observation method to collect non- numerical data. It
consists concept as well as methods of investigation from several established academic areas.
This method helps in provide the information in a detailed manner. It varies using semi-
structures and unstructured techniques. Under this consists observation, individual interviews,
focus groups.
Quantitative method- It emphasize statistical, objective measurement, numerical analysis
of gathered data by using surveys, polls, questionnaire and through manipulating pre-determined
statistical data. Its main focus on understand phenomenon from closer perspective. Under this,
data is in the form of percentage, numeric and statistics (Tsai, Lai and Vasilakos, 2014).
Data collection plays necessary role in statistical analysis. For collect data, researcher
uses two different methods for an instance primary and secondary.
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Primary- In this, data or information gathered through researcher itself for particular
purpose. For collect data, researcher uses questionnaire, surveys, observation, personal
interviews etc. In this research, information is gathered from 40 respondents.
Secondary- Under this method, data is already available on internet, records of firm, ion
books, journals, previous research etc. Data or information is already collected through someone
(Gao and Bai, 2014).
QUESTIONNAIRE
Name:
Age:
Gender:
Contact number:
Address:
Q1) What benefits Continental Consulting Limited get through executing The Internet of
things at workplace?
a) Better Decision Making
b) Safety, Comfort, Efficiency
c) Enhance Business Opportunities
d) Generate revenue
Q2) What are various Real World Applications related with Internet of things used by
Continental Consulting Limited company to conduct the business operations?
a) Wearables
b) Smart Cities
c) Smart Retail
d) Smart Home
Q3) Is Internet of Things helpful in integrating as well as connecting the systems in an
effective manner?
a) Yes
b) No
Q4) What are different kinds of enterprise deployments in Internet of Things to perform
business operations better?
a) Data centre monitoring, automation and management
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b) Mobile device management
c) Surveillance and security monitoring
Q5) What difficulties Continental Consulting Limited organisation can faced during an
execution of the Internet of Things in business environment?
a) Security
b) Compatibility and Longevity
c) Ubiquitous connectivity
Q6) What major skills should have learn by individual for making the filed of Internet of
Things successful?
a) Networking
b) Electronic circuit design
c) Cloud computing
d) Programming language
Q7) What are the main advantage of internet of things for Continental Consulting
Limited?
a) Cost effective
b) Increase productivity
c) Efficient Processes
Q8) What will be effect of Internet of Things on development as well as profit level of
Continental Consulting Limited ?
a) Increase growth
b) Faster business activities
C) Less manufacturing cost
Q9) What is main role of Internet of Things in business of Continental Consulting
Limited?
a) Connecting more and more devices
b) Integrating systems
Q10) To suggest different ways through which Continental Consulting Limited
organisation can upgrade its business operations.
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