Report: Digital Technology Impact on Small Business Growth, Analysis

This report examines the impact of digital technology on the growth and innovation of small businesses, using Continental Consulting Ltd as a case study. The report explores the importance of digital tools in today's market, including social media and web-based systems, for enhancing communication, reaching customers, and increasing market share. It outlines a research project with objectives to assess the influence of digital technology on small business growth, evaluate the benefits of digital technologies, and determine the relationship between digital technology and business growth. The report details the project's scope, including risk management, quality control, cost analysis, and time management, and presents a breakdown of costs and a timeline for completion. Data collection methods, including qualitative and quantitative research, are discussed, along with the use of primary and secondary data. The analysis includes questionnaire results, highlighting the impact of digitization on business growth, customer satisfaction, market share, and specific departments within Continental Consulting Ltd. The research aims to provide valuable insights for management to make informed decisions regarding business development and digital transformation.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1............................................................................................................................................1
P2:...........................................................................................................................................2
P3:...........................................................................................................................................4
TASK 2............................................................................................................................................6
P4:...........................................................................................................................................6
TASK 3............................................................................................................................................7
P5:...........................................................................................................................................7
P6:.........................................................................................................................................17
TASK 4..........................................................................................................................................18
P7:.........................................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................20
APPENDIX....................................................................................................................................21

INTRODUCTION
In today's world, it is quite crucial to compete business in an effective manner within the
market in order to gain reputation and market share. There are various sorts of techniques that
allows an organisation to conduct various functions of business in an effective manner. The role
of digital technology cannot be undermined in current scenario, thus it is essential that
management of organisation make sure that right kind of digital technology tools are adopted,
which will grow and develop organisational beyond a point. Digital technology allows an
organisation to reach to its customers and to grow its market share in the longer run. Continental
Consulting Limited is an organisation which is engaged in business process re-engineering
(Bucero and Englund, 2015). The company provides its services to small and medium
manufacturing organisation in and around London. The company makes necessary research on
these organisations for the drive of addressing the requirements and anxieties of their business in
an effective way.
TASK 1
P1.
The current market scenario is changing quite rapidly and thus it can be said that digital
technology is essential for any firm to grow and prosper beyond a point. If the same will not be
applied effectively by a company, then it will pose various kinds of difficulties for the
organisation in the longer run. There are certain technologies which an organisation must possess
with itself, if it wants to compete effectively in the business environment (Kerzner, 2011). These
technologies can enable company to effectively manage its business and reach out to large
number of customers in a very easy manner. Effective technology also can help an organisation
to communicate effectively, not only within the business itself but with outside parties as well.
Thus, the role of digital technology in small and medium scale business is very large. These
companies will have to implement necessary digital tools as well as techniques in order to come
out strong and effective in a competitive market (Davies and Hughes, 2014). The different
Digital technological tools include various social media websites that an organisation can use for
the purpose of communicating effectively with external parties like customers, suppliers,
distributors etc. These includes YouTube, Twitter, Facebook etc. Thus, it can be said that
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innovative digital technology is a vital aspects in the general growth as well as development of
the organisation in the near future time.
Aim: ‘To analyse The impact of digital technology in supporting small business growth and
innovation: A case study of Continental Consulting Ltd'
Research Objectives:
 To examine the influence of digital technology on growth of small sector industry.
 To assess various aids resulting by the implementation of digital technologies in
Continental Consulting Ltd. To determine the relationship between digital technology and business growth of
Continental Consulting Limited.
Research Questions
 What is the impact of digital technology on growth of SME sector business?
 Explain the various benefits derived by the implementation of digital technologies in
Continental Consulting Ltd?
 Analyse the relationship among digital technology and occupational growth?
P2:
Application of digital technology is essential for small business in order to grow and
develop at a competitive market place. This can be achieved through proper implementation of
the same in an effective manner. This encourages the business firms to finish diverse
assignments of undertaking in an appropriate way. The managers of Continental Consulting
Limited put its best keeping in mind the end goal to oversee different costs, resource, quality and
furthermore assess the risk (Epstein and Buhovac, 2014). So as to upgrade the matter of
Continental Consulting limited by implementation of new advanced innovation. It is important to
decide the given factor:
Scope of Project: Because of execution of new and inventive innovation, it helps to fulfil
the needs and wants of clients. In the present time, there are distinctive opportunities in business
firms. This will give different opportunities to give diverse kinds of services to its dedicated
clients (Lin and Chen, 2012).
Management of Risk: Each business firms are connected with different sorts of exercises
include in the ventures which are concerned about all fundamental factor that are incorporated
into execution of risk. Management of Continental Consulting Limited should take legitimate
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activities to decide the risk and its effect. These developments help to lessen the impact of risk
on execution of tasks. As Continental Consulting Limited is a reputed company, along these
lines, there is less chances of risk in execution of various sorts of tasks (Eskerod and Huemann,
2013).
Quality: For the purpose of effectively conducting project and accomplishing the task, it
is quite important that right kind of quality of services that are being offered by Continental
Consulting Limited is maintained in an effective manner. If the quality of services offered will be
effective, then it will be able to satisfy the needs as well as demands of customers in the longer
run.
Cost: It involves the cost that would be required for the purpose of completion of project
in an effective manner. The cost has to be incurred by the organisation for the purpose of
completion of project and manager has to make a proper budget for the same (Evans and
Johnson, 2013).
Total forecasted budget 2017-18($)
Particulars
Technological Implementation
Cost 16000
Expenses of Promotion 4000
Advertising Expenses 5500
Catalogues 1800
Various Training charges 7500
Total cost 34800
Time: The project shall be completed in the time period which has been allocated for it
by the project manager. The current research on small business and use of digital technology will
consume a whole lot of time and thus, it is essential that the target of time shall be matched in an
effective manner, with the stipulated one. Effective time management ensures that the overall
production cost will be reduced to an extent and growth can be achieved in the longer run (Evans
and Lindsay, 2013). The time that has been allocated for this specific research is around 45 days,
within which the research shall be completed.
3

Communication: It is necessary that there is a proper flow of communication among all
the departments of the organisation in an effective manner. If the level of communication is
maintained properly, then it will increase the chances of execution of different projects in the
longer run. There are various communication resources which are being used by the company for
the purpose of communicating effectively within the business, these include internet, Web based
systems etc.
P3:
This research project helps the association keeping in mind the end goal to gather
substantial measure of information that can assist the top authority of administration to determine
powerful choice which are worried with development of business companies. For effective
execution of venture, it is duty of executive to safeguard that all kinds of purposes which are
afraid to ventures has been managed in an effective manner (Gustafson, 2012). Keeping in mind,
the end goal to plan a compelling activity of thought: essential steps of investigation are assumed
under:
 Determining the primary feature late study.
 Literature analysis of the research.
 Clarification of various types of issues.
 Determination of thought of Projects
 Sample Size Choice
 Plan Design
 Data Valuation
Various kinds of research include all these steps, the research that has been talked above
is concerned with implementation of digital change within the organisation. Continental
Consulting Limited is a small business organisation and thus company is conducting a small
scale research for the purpose of assessing the impact of digital technology within the business.
For the purpose of completion of this research, organisation has taken a sample size of 20
respondents (Forsgren and Johanson, 2014). The action plan that has been set by the researcher
can be laid down as follows, this will help in setting of different time for different activities in an
efficient manner.
4

5

Illustration 1: Work breakdown structure
(Source: Work break down Structure, 2018)
TASK 2
P4:
It is highly essential for the researcher to conduct research with the use of appropriate and
effective data in an appropriate manner. The methods that needs to be chosen for the purpose of
research has to be effectively manage as well. The most important factor for conducting a
research is to collect data for the purpose of effective execution of research in an efficient
manner. The methods of data collection can be primary methods and secondary methods. Both
the method is different from each other (Buhovac, 2014). Primary data is concerned with
collecting data directly from respondents, while secondary data is concerned with collection of
data from sources where information is already available. These methods are discussed in detail
as follows:
Qualitative research: It refers to conducting research which is based on quality of data. It
considers facts as well as behaviour of study for the purpose of arriving at conclusion. This kind
of research is usually based on theoretical framework and researcher looks more for theoretical
aspect of a particular topic.
6

Quantitative research: It refers to conducting research based on statistical data, the
researcher will conduct research on the basis of quantitative data. Every opinion within the
research will be based by quantitative data, that will be essential for the reader to understand the
research well and arrive at conclusion. The quantitative data is a much broader term then
quantitative data, because the scope is much larger then qualitative data (Evans, 2013).
Primary Data: Under this method, the data is collected by the researcher directly from
general public. This strategy is especially considered by the researcher in gathering most recent
information with a specific end goal to increase powerful results which benefit in basic
leadership. With aid of effective techniques, investigator make Questionnaire interviews, Review
for achieving perspectives of various people. A survey plan will be designed by Continental
Consulting Limited keeping in mind the end goal to get applicable data. This can be related with
the overall respondents that are taken for the research (Halibozek and Kovacich, 2017).
Secondary Data: Distinctive bases which are utilized by directors of Continental
Consulting Ltd for the accumulation of significant information. Secondary method is the
strategies that of now taken into account by different people for various reason. One of the
fundamental attributes of such kinds of information is that it helps the managers to decide the
subjects of study. For this, examiner can take help of periodicals, books, object and so forth.
TASK 3
P5:
For the purpose of conducting research in an effective way, it is highly essential that right
kind of data is collected from respondents directly. With the help of data, it will become even
more easy for the management for the organisation to reach to a specific conclusion in the longer
run. Organisation shall implement various strategies to implement the results of the data, which
has been obtained in an effective manner.
Questionnaire
Q1. Does digitalisation help Continental Consulting Ltd in achieving business
growth?
Frequency
 Yes 15
 No 05
7

Q2. What is the role of digitisation in expanding the business of an organisation? Frequency
 Efficient Customer Satisfaction 10
 Increase in overall market share 10
Q3. How do new technologies affects the various business operations of
Continental Consulting Ltd?
Frequency
 Sales Increment 14
 Increase in overall Profitability 06
Q4. In what specific areas Continental Consulting Ltd shall use digital
technology?
Frequency
 Communication Department 10
 Production Department 10
Q5. Which department of Continental Consulting is most affected by digitisation
within the business?
Frequency
 Customer relationship Department 13
 Marketing 07
Q6. Which are the crucial elements important for implementing various digital
technologies within work place?
Frequency
 Time 15
 Fund 05
Q7. What will be the impact of digital technology on the business organisation? Frequency
 Positive 18
 Negative 02
Q8. What is the impact of Digital technologies on functioning of Continental
Consulting Limited?
Frequency
 Reduction in Red Tapism 10
8

 Cost Efficiency 10
Q9 Provide recommendations, if any on the topic?
9

Theme 1: Digitisation Helps in Business Growth of the organisation
Particular Frequency
 Yes 15
 No 05
Interpretation: When asked from respondents that whether digitisation do have an
impact on the business growth of the organisation, around 75% people or 15 out of 20 people
said that yes it has led to overall growth of the organisation, however 5 people denied the same
statement and were not agreed with the same. Thus it clearly depicts that business growth can be
achieved through effective digitisation process.
10
15
5
Yes
No