Managing Successful Business: Digital Technology in the Business World

This report examines the influence of digital technology on the development of small businesses, using 3Com as a case study. It explores the aims and objectives of the project, including the advantages and disadvantages of modern technology. The report details a project management plan, covering cost, scope, time, quality, communication, risk, and resources. It also includes a work breakdown structure and Gantt chart to illustrate project timelines. The research methodology involves primary and secondary data collection methods. The report analyzes the data using appropriate tools and techniques, and provides recommendations for leveraging digital technology to improve business outcomes. The report concludes with a reflection on the project's key findings and implications for small business growth in the digital age.

MANAGING
SUCCESFUL
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives...............................................................................................................1
P2 Project management plan.......................................................................................................2
P3 Work breakdown structure and Gantt chart...........................................................................4
TASK 2............................................................................................................................................6
P4 Small scale research for meeting projects objectives............................................................6
TASK 3............................................................................................................................................7
P5 Data analysis using appropriate tools or techniques..............................................................7
P6 Recommendations................................................................................................................13
TASK 4..........................................................................................................................................14
P7 Reflection.............................................................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Digitization plays a very eminent role in attainment of organizational goals because it
supports in accomplishing business activities in a minimum duration with the help of advanced
equipments. 3Com is a small business enterprise whose main motive is to design various
machinery for development of society and popularize for its electronic devices across national
boundaries (Ahimbisibwe, Cavana and Daellenbach, 2015). Mainly it was founded in around
1979 by Robert Metcalfe and still trying to come up with various innovative items for facilitating
various consumers. This assignment is mainly classified into various parts for explaining the
methods of handling or managing a successful business project. Initially, it will the explain the
target or motive of assignment in order to take further action accordingly. Along with this
highlight various factors which plays a major role in completing a project such as; cost, scope,
finance, risk, resources etc. An effective research is going to conduct for accumulating necessary
information which is required for understanding requirement of change in a project. Furthermore,
an appropriate suggestion also prescribed for getting aware about significance if digital
technology on growth of small business.
TASK 1
P1 Aims and objectives
Topic:- “Influence of digital technology on development of small business: A case
study on 3COM”
Small business is growing in a fastest way due to introduction of number of advanced
technology because it helps in completing assigned task in a given time frame as well as
encourage employees towards professional objectives. 3Com is a small business entity involves
in producing electronic items such as; design various attractive or unique style of computer
system as well as communication devices with high standardized network. Basically, main of
selected firm is to introduce various creative products consist of various facilities and aids
common man while performing their day to day work (Bryman and Bell,2015). Digitization is a
term which signifies the emergence of various modern equipments during performing business
operations and use while handling a large project in order to accomplish it in an appropriate
manner. Along with this, it supports in encouraging employees of referred enterprise by
conducting various motivational programmes or sessions which resulted in development of
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overall company. Apart from this, digital technologies have a major influence of small business
growth due to its efficiency and effectiveness as it supports in every step by making work more
easier. Thus major aim or objectives of an assignment is mentioned as follows:-
Aims:- “To identify the influence of digital technology on development of small
business: A case study on 3com”
On the other hand major objective of this project is to “understand the role of advanced
equipments on growth of small business entity in various way” . It means modern world is full of
innovative equipments which is used by different firm while running their organization in order
to accomplish assigned task or activities in a minimum time frame. Thus, by considering all
these things number of questions are arises which is stated below:-
 Identify the advantages and disadvantages of modern technology?
 Determine the problems while implementing advanced equipments?
 Is it beneficial for growth of small business?
 Is there influence of digital technology on company turnover?
 What are the reasons behind implementation of digital technology?
 Is there any improvement in UK economy?
Hence, it has been observed that number of questions are arises while understanding the
impact of advanced technology on growth of small firms because it plays a very crucial role in
seeking attention of millions of consumers (Cavusgil and et. al.,2014). Generally, 3com is
involving in designing various electronic products for making the world more modern by
offering them various innovative devices.
P2 Project management plan
3Com is not that much small because of their size or scope as it expanded in coming time
period in order to gain maximum benefits or advantages by introducing various innovative
products. Basically, they believes in facilitating customers with more or advanced devices for
transferring their information or data in most appropriate manner. Additionally, managerial team
of an association is trying to make an impressive project or successful project by considering
relevant facts or figures. In fact it is not easy to handle a large business assignment due to lots of
complications and responsibility as well as requires expertise advice for implementing activities.
Thus, various factors which must be considered while managing an organization report or project
is described as follows:-
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 Cost:- First and foremost thing which is required during business work is sufficient
amount of capital because all the activities and success of a company is depend upon
money. Thus, financial team of an enterprise is trying to arrange required cost in order to
run an association in a most appropriate manner by considering relevant information.
However, approximately assumption has been taken place before allocating capital for
understanding the cost which is going to incurred while managing a successful business
project (Coombs, 2015) . As a result, issues related with cost or expenses get resolved in
a given time frame. Scope:- Basically, this part of project highlight the clear vision of an enterprise for
attaining it in a defined duration. Along with this, it helps in directing employees towards
their personal or professional goals by completing assigned task or job role. Mainly,
scope of this project which is handled by managerial team of 3com is to encourage
employees towards usage of digital technology in order to develop overall society as well
as economy of a nation. Additionally, also trying to raise the living standard of
employees and common people by introducing various modern technologies. Time:- Duration is essential for success of an organization because it guides overall
enterprise towards completion of allotted work in defined time period by satisfying needs
or customers. In fact, time is a major factor which have a greater impact on goodwill of
an enterprise because it shows the activeness of employees and overall organization
towards delivering of products. For example; if goods or services are timely transferred to
final user then it shows the attentive nature of company towards their job. As a result
selected firm get succeeded in gaining trust or loyalty of different customers and makes
long term relations (Cserhati and Szabo, 2014). Quality:- According to this factor, 3com needs to focus on their product standard for
capturing attention of millions of customers and able to satisfying their needs. Mainly,
devices which is manufactured by 3com is of high tech quality with standardized raw
materials in order to make durable products. Now-a-days most of the consumers are
worried about their goods quality instead of money because they want to design items as
per consumer demand with costly materials. Communication:- Interaction process is one of the essential method because it helps in
transferring relevant information or data in most appropriate manner for clearing hidden
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issues. In fact, communication is a two way procedure which take place in 3com with the
help of various advanced technology such as; telephone, cellphone, conferencing system
and so on. Thus, an organization is focussing on various devices which act as a major tool
in transmitting necessary evidences from one staff member to another. For example; they
were trying to introduce large projects like implementation of 5g network across the
borders for facilitating end users (De Visscher, 2016) . Risk:- Business is either small or large risk is definitely emerges because due to
availability of number of complex situation which requires suggestion from expertise
people. Future is uncertain due to availability of number of competitors and fluctuation in
various micro or macro factors. Thus various types of risk which is faced by current
business are; chances of conflicts, disputes between various partners, shareholders,
fluctuation in market, occurrence of disaster and so on.
 Resources:- Assets are indispensable for success or development of an association
because without necessary resources business can't able to run in an appropriate manner.
Thus, 3com is a very serious towards allocation of optimum resources because it plays a
major role in attaining objectives. For example; land or building, plant or machinery,
human resource, capital, raw materials and various other things which is required by
organization to run their business operations in more efficient way.
Hence, it has been observed that these above factors are indispensable for attaining set
objectives or goals in an appropriate manner by satisfying needs of a customers.
P3 Work breakdown structure and Gantt chart
3Com is an organization whose main motive is to produce various unique or creative
electronic items by conducting various business activities in most appropriate way. In order to
attain their organizational objectives in a minimum duration management team of selected firm
making various appropriate plans or policies by considering taste or preferences of different
customers (Hornstein, 2015). Thus, to accomplish business activities in a defined time
managerial department has distributed work within enterprise amongst entire staff members.
Therefore, classification of job between employees or employers in order to complete it in a
minimum duration is known as a work breakdown structure. Along with this it will assist the
subordinates towards their job role by directing them in a corrective way as per their
qualification or skills.
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This strategy is also get affected by introduction of various electronic devices because it
changes the method of implementing work in an appropriate manner. Main objective of work
breakdown structure is to transfer works between various supervisors or subordinates in order to
finish it in a minimum time period (KaiserEl Arbi and Ahlemann, 2015) .
Whereas, Gantt chart is a graphical representation of project which shows duration of
completing specific project and helps in directing employees towards their goals or objectives. In
fact, it illustrate the starting and finishing time of any particular assignment which helps overall
enterprise while performing their business operations.
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TASK 2
P4 Small scale research for meeting projects objectives
Primary Data: Primary data is first hand data which is going to be collected for very first
time. These are fresh data which is collecting by research personnel for specifically completion
of Three Con company's objective. Person who belong to selected organisation who is collecting
data for company could be anyone like an authorized organization other than chosen firm,
investigator and enumerator or any single person with a clipboard (Saebi and Foss, 2015) . These
data are very reliable because they are collecting directly and their reliability depend upon person
who is motivated to make this research. Main intention of collection of this data is to put right
data at right place and which fulfils researcher's goal. This method is very costly to business.
Following are methods of Primary Data collection:
 Interview: certain question ask to desired sample size.
 Observations: observation depends upon behaviours of sample size.
 Questionnaire: certain set of questions on paper which is to be asked to people which
reflects aim of study.
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 Scheduling: it means set per forma of questions which is filled by researcher itself. It is
for those who cant fill up forms.
Secondary Data: Secondary data means that information which is gathering by
research representative of Three Con from another source or that is already been searched by
another investigator for his objectives. These type of data gathers from journal, magazines,
books, another research papers etc. this method is quite cheap in comparison of collecting
primary data. Selected company use secondary data very often instead of primary data. Methods
of collecting this are as below:
 from Govt. organization: Federal and Provincial Bureau of Statistics, Crop Reporting
Service-Agriculture Department, Census and Registration Organization etc.
 Semi Govt. organization: for e.g. Municipal committees, District Councils, Commercial
and Financial Institutions like banks etc.
 Technical and Research Organizations
 Research Journal Papers
 Internet.
Data Sampling: It is a technique of selecting, analysing, and manipulating data which is
representative of research data (Schaltegger and Wagner,2017) . Basically it is fragmentation of
data from larger state to required state or limited stock. It specifies data which is necessary for
research analysis. There are several methods of data sampling as beneath:
1. Probability Basis: probability means occurrence of data. How many time same data came
in collected data.
2. Random Numbers Selection: it means selecting a no and study of that.
3. Predictive analysis
4. Predictive Modelling
Qualitative Research: Qualitative research means when collected data can not be sorted
in number form it can be judged only on observation basis like behaviour, money, taste,
satisfaction etc. nature of this type of research varies from disciplinary to disciplinary. It is
analysis of data gathered from events and programs. It carries understanding of phenomenon of
exploring events or situation.
Quantitative Research: Information can be gathered into number form which is
calculative and measurable like currency, how many products sold, what were target customers,
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which type of good sold very much etc. In other words it could be said as it is a systematic
empirical investigation of observable phenomena via. Computational. Mathematical and
statistical tools (Seymour, and Hussein, 2014) .
Hence, an effective questionnaire is going to design for getting aware about consumer
choice or perception towards digital technology on growth of small business enterprise. Thus,
here is questionnaire which is formulated as follows:-
Questionnaire
Name:--------------------------------------------------------------------------------------------------
Age:------------------------------------------------------------------------------------------------------
Gender:-------------------------------------------------------------------------------------------------
Q.1. Is there any problem while implementing digital technology? Yes No
Q.2. Is there any development in living standard of employees? Yes No
Q.3. Digital technology is sustainable or not? Agree Disagree
Q.4. Is there any growth in performance of an organization? Yes No
Q.5. What are the barriers faced by organization while implementing advanced technology at
workplace? Cost Employees Quality Resources other
Q.6. Are you satisfied with products or services offered by company? Yes
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 No
Q.7. Recommendation?
TASK 3
P5 Data analysis using appropriate tools or techniques
3Com is perfect example for digitization because this company is mainly focus on
manufacturing advanced technology for development of overall society. Thus, number of
methods are used by an enterprise to understand the influence of modern equipments at small
business. For example; by acquiring accurate information with the use of different methods like
data sampling and understand the opinion of individuals for further changes as per their need or
requirement ( Ward, 2016). Hence, various appropriate methods of investigation accurate
information is described as follows:-
Random Sampling:- As per this tool an organization need to select various members
randomly without any discrimination for acquiring feedback and to understand the choice of
current society for further improvement. Thus, in this project 30 members are selected as a
sample for presenting their opinions or thoughts.
Hence, an appropriate assessment of data with the help of questionnaire method is
mentioned as follows:-
Data analysis
Theme:1 Problems while implementing
digital technology.
Frequency
 Yes 15
 No 15
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Interpretation:- According to above representation it has been analysed that small
business is growing in a fastest way due to introduction of various advanced equipments which
plays a major role in success of an association. In fact number of employees are believing that
digitization of world is beneficial for company but it is not easy to implement because of its
complexity in behaviour or unique in nature (Thomas, 2011). Hence, according to survey report
it is identified that out of 30 individuals, 15 are fully satisfied with this statement whereas
another 15 are not happy with this term because of its stiffness or various other reasons.
Theme:2 Improvement in living standard of
employees.
Frequency
 Yes 20
 No 10
10
15 15 Yes
No