Managing Successful Business: Digital Technology and Innovation Report

This report analyzes the impact of digital technology on small business growth and innovation, focusing on a case study of NISA, a retailing company. The report outlines project aims and objectives, emphasizing the importance of digital technology in enhancing business operations and communication with stakeholders. It details the project management plan, including scope, cost, quality, risk, time, communication, and resources. The report further explores the application of quantitative and qualitative research methods to gather and analyze data, including the use of work breakdown structures and Gantt charts for project planning and time management. The findings and recommendations focus on how digital technology can be leveraged to improve business performance, attract customers, and foster innovation. Finally, the report includes a self-reflection on the research process and concludes with a comprehensive overview of the findings and their implications for small businesses.

Managing Successful
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explain project aims and objectives......................................................................................1
P2 Making project management plan..........................................................................................3
P3 Work breakdown structure and Gantt chart to provide time frames......................................5
TASK 2............................................................................................................................................5
P4 Carry out quantitative and qualitative research.....................................................................5
TASK 3............................................................................................................................................7
P5 Analyse research and appropriate tools and techniques........................................................7
P6 Recommendations and findings...........................................................................................13
TASK 4..........................................................................................................................................14
P7 Self reflection on the Research............................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODUCTION
Digital technology is a process by which firm will convey with their clients and also
provide products information with them. Business organisation have not much effective for work
operations and activities in an organisation. Digital technology assist in providing proper
communication procedures through the help of advanced level of technological firm system that
can aid in communicating with their stakeholders within an enterprise. This report is based on
NISA which is retailing company and they provide various types of products and services to
their desired customers. It has 215 employees who works for achieving accurate targets and
goals (Broekx and et. al., 2011). This is fast growing company and also provide online selling to
their customers. The purpose of this report is to understand various aims, objectives and motives
of digital technology which has to be described in detailed manner. They also done accurate
research for collecting important data or information in respect of project report. It is necessary
to gather all data that will assist in doing recommendations which has been provide for
improving those ineffective areas which are still in effective.
TASK 1
P1 Explain project aims and objectives
In every organisation, business aims and objectives are necessary and essential for help in
making advanced technologies which highly increasing company growth and success in better
manner. Innovation is required for appropriate functioning of business activities and operations.
Technology advancement help in developing business activities and operations within an
organisation. Recently, they are work for generating income in effectively and efficiently. In
these days, company will work for attracting customers by developing new and creative products
and services and with the help of this they can smooth running of operations at low functional
cost. The innovation technique are used in modern market for capturing large number of
customers and also provide growth to small business in proper manner (Denzin and Lincoln,
2011). Management take correct position if these innovation factors are positively impact on
organisation functions. Digital technology is important technique for transferring all required
files from one person to another in proper manner. They also provide that platform to their
creative persons where firm can easily interact with potential customers and know their demand
and wants regarding goods. An organisation can enhancing their opportunities for reaching target
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goals and objectives and also increasing profitability. For using this accurate fund, company will
try to expand their business in other locations by developing new items. An individual can
recognised all the desired buyers and give them best products which can be satisfy their needs
and wants in better manner. They have various benefits which assist firm in connecting their all
workers with other in properly (Fleming and Koppelman, 2016). There are different advantages
which can provides to digitalisation organisation for developing effective innovative services
and also take employees feedback or review on daily basis.
Background of Project:
An enterprise required to adopt various modifications relates to time in which various
advanced technology of innovative services are taking accurate position in external environment.
Digital technology is essential for producing innovative products and services which help in
enhancing small business growth in the large market. It assist in making proper business
operations in effective and efficiency way where all goods and services that acquires
manufactures regarding different types of buyers demands and wants. They are not required to
transfer all information and data which are easily conducted by electronic mails done by finance
department. It is necessary to choose data technology which properly secured the outdoor
individual interference that can be reduce at some time. By this, digitalisation presentation firm
will easily promote their innovative and new goods among customers of all over the world.
They will also provide accurate information about each products in accurately. There are various
different types of products and items which has to be manufactured by company's person for
fulfil demand and wants of customers and also help in supporting small business growth. Social
media and mobile technology help in connecting various person with each other of all over the
world (Geraldi and Lechter, 2012). When an organisation introduce innovative project that have
some basic aims, objectives which required for monitoring whole business activities and
functions in proper manner.
Topic: “Digital technology impact on supporting small business growth and innovation”
Aims: The basic aim of this organisation is to became “the symbol group of choice” for retailers.
They try to work for creating new and innovative products which and promote through
advertisement, television and many other. Te project has various aims that are as under:
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 They has to develop creative and innovative goods and services to their customers in
appropriate manner (Hirshkowitz and et. al., 2015). They mainly try to assist in
delivering different products and services and target specific group people.
 The possible changes are done according to the demand of potential buyers and also
modification are required to attracting more users.
Objectives:
 To identify the digital technology impact on growth and innovation
 To determine the direct impact on innovation activities and company growth To assess the execution and preparation of business on digital technology
Research questions:
1. How the digital technology is executed on business?
2. Why digital technology impact on company growth and innovation?
3. How the innovation activities and company growth is effective?
P2 Making project management plan
It is necessary for developing project management plan for project development team and
developers. This will assist in appropriate conducting of research within an organisation. Project
management plan help in deciding some things that include time, scope, cost, quality, risk,
communication process which can be followed and also resources that can used for placing the
project. It will assist researchers for saving time their time and decide that they what thing to
done in some situations. This gives appropriate and accurate formats which help in applying
different projects in actual conditions. There are various project management plan which are
discussed as under: Scope- It is essential for an organisation is to understand the innovation activities and
company growth which required to fulfil in better manner. Research on small scale
enterprise is necessary for evaluating impact on digital technology effectively. This is
appropriate methods and technique that will recommended by firm for analysing whole
data or information (Lakatos, 2014). This will advisable by researcher for determining
all areas which provide best result against actual objectives and goals. Cost- For making any project, cost is required for planning in advanced. There are
various things which required for costing planning in advance such as Gantt chart, data
analysis. IT systems, develop questionnaire and take help of experts. In development of
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each project, it is need to allocate proper budgets of these functions and activities. For
developing innovating products, cost is necessary during its process. It is essential for
complete the project at given time period. Quality- During market research, it is necessary for developer is to make effective
method which is used in best manner. All these functions and activities required to be
completing in qualitative manner that assist in providing accurate results. By doing
research it is necessary to clear their basic aims and objectives which are based on
accurate topic (Meredithand Mantel Jr, 2011). This project is related to the CSR which
help in meeting desired goals of company so that will assist in reaching expected goals
and objectives. The quality can improve by suing innovative ideas and also develop new
products and services. The company will get growth for providing quality goods to their
customers in proper manner. It will give accurate result and automatically increasing
profitability and productivity of firm. Risk- When an organisation start any project there are various risk which occurs in the
research time. These risk create barriers for finishing project at given time period. The
major important risk is arise during when firm will continuing the research at the same
time. At the time of developing innovative items risk are mostly occurring for create
problems within an organisation. Company face growth related risk which reducing
profitability and reputation in the large market. Gantt will help in tackling these types of
risk in better manner. They will set standard for assuming accurate risk which help in
analysing competitors information. Time- It is necessary for each and every project is to determine timing for finishing the
particular project activity at all level of reports. Effective scheduling assist in completing
project in proper manner (Peters, Howard and Sharp, 2012.). Company will give 25 days
for completing a project. Small business can also work for innovate products in less time
period and that will serve in large market to the customers. Communication- It is necessary for communicate with company staff members relate to
growth and innovation activities. They required to place best channel of communication
which help in resolving various problems and issues and also reduce gap between
different channels. By using Gantt chart, it will assist in creating by experts and also this
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will perform each activities done in proper way of projects. For making innovative,
company try to gain profit by offering these products among desired buyers.
 Resources- It is necessary for every developers is to analyse possible resources which
required in making particular project. The resources are also used for increasing Nisa
company growth and innovation activities. It will help in enhancing profitability and
productivity in better manner (Wahyuni, 2012). There are various resources that includes
human resource, technology, finance and many other for finishing specific project at
given time. Human resource and finance is helpful in implementing these requirements.
P3 Work breakdown structure and Gantt chart to provide time frames
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TASK 2
P4 Carry out quantitative and qualitative research
Market research help in identified latest trends of the organisation. This will also support
in making accurate decision in systematic manner. For gathering real data or information by
using research methods that can assist in making proper decision at given time (Westerman,
Bonnet and McAfee, 2014). There are two methodologies of investigation that are as follows:
 Quantitative method
 Qualitative method
Quantitative research- In this method, business can collects all data or information
which is mostly important for production department. This will provide numerical data which is
easy to understand. Researcher advice the firm to gather commercial and selling data of whole
market which help in analysing growth of innovative products and services. The most important
advantage of this research method is to analyse whole data or information which assist in making
correct and effective decision.
Qualitative research- This is also most effective method by which firm will provide
thoughts and ideas of people that is highly enhancing company profitability and productivity.
This concept involves structured and semi structured techniques for gathering data. There are
various methods such as observation, participation, focused groups and single person interviews.
It is that method, different type of market research that assist in recognising individual opinions
and thoughts that can be collected by asking different questions (Wilson, 2014). For this method,
questionnaire is best tool which help in improving and measuring firm performance and growth
level. Quantitative research assist in evaluating person behaviour on some particular topic.
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There are two method of collection of data which are as under:
 Primary data
 Secondary data
Primary research- It is that research method which help in gathering all necessary data or
information that are primary sources. Information can be collected from this method is mainly
reasoned as effective and straight. An individual can also gather data by own way. By managing
these types of research with the help of experts survey, interviews, ethnographic research and
measurement. Observation help in analysing behaviour of consumers towards organisation
products and services for making accurate decisions. Cited firm have prepared questionnaire
which will be conducted on 20 respondents. By using this, organisation can get actual data which
support in increasing growth and success.
QUESTIONNAIRE
Name:
Age:
Gender:
Q.1. Can digitalisation is favourable for business growth?
a) Yes
b) No
Q.2. Is digitalisation give benefit to NISA for long time period?
a) Yes
b) No
Q.3. Does digitalisation provide rapid and advanced innovation growth to the organisation?
a) Agree
b) Disagree
Q.4. Will digitalisation create positive impact on supporting small business growth and
innovation?
a) Yes
b) No
Q.5. Is it required for NISA to develop new creative products?
a) Yes
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b) No
Q.6. Can an organisation have proper technology for recording their data?
a) Agree
b) Disagree
Q.7. What will be long term effect on business growth and innovational operations?
a) Positive
b) Negative
c) Neutral
Q.8. In the present time, which method of marketing is most appropriate?
a) Traditional
b) Modern
Secondary research- In this research, all the data or information can be collected by
secondary sources. There are various sources which can be used by researchers such as journals,
books, online sites, internet etc. for gather necessary information. By comparing with primary
research this method is more appropriate in each manner. In present time, few experts persons
take support of secondary method for collecting all required data or information.
According to the digitalisation is most essential feature that can assist company in
directing higher level of attainment and this will help in becoming successful leader. They
usually want to update and upgrade so that is highly important for organisation to offer goods
and services according to the preferences. Digital technology help in improving their production
process that will impact positively on business enterprise.
TASK 3
P5 Analyse research and appropriate tools and techniques
Data can be presented for concluding an accurate result of the project. It is necessary for
firm to create effective decision making which assist during making of projects. NISA has to
interpret whole data that will collected from 20 respondents of UK. This will help in making
appropriate outcome for research project.
Q.1. Can digitalisation is favourable for business
growth?
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a) Yes 14
b) No 6
Theme: Digitalisation is suitable for business
As per the above image, it is clearly described that digital technology is appropriate for
business growth of small and large organisation in better manner. Out of 20 respondents there are
almost 14 person says yes for that growth is most important for company which help in
increasing profitability and productivity. On the other side, rest of the 6 person thinks that
digitalisation is suitable for enhancing organisation growth in effectively.
Q.2. Is digitalisation give benefit to NISA for long time
period?
a) Yes 10
b) No 10
9
14
6
Yes
No