Digital Technology's Impact on Small Business Growth and Innovation

This report analyzes the impact of digital technology, particularly the Internet of Things (IoT), on the growth and innovation of small businesses, using Continental Consulting Ltd. as a case study. It outlines a project management plan, including cost analysis, scope, timeframes, quality considerations, and risk assessment. The report includes a work breakdown structure and a Gantt chart to visualize project timelines. It also describes research methodologies, incorporating both qualitative and quantitative approaches to evaluate the impact of digital technology on various aspects of business operations. The findings are synthesized to provide recommendations for enhancing digital technology implementation in small businesses.

Managing Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aim and objectives.....................................................................................................1
P2 Project management plan with cost aspects, scope, time, quality and communication risk..2
P3 Work breakdown structure and a Gantt chart........................................................................4
TASK 2............................................................................................................................................7
P4 Small scale research by implementation qualitative and quantitative research.....................7
TASK 3............................................................................................................................................8
P5 Evaluation research and data using appropriate tools and techniques...................................8
P6 Appropriate recommendation as a result of data and research analysis................................8
TASK 4............................................................................................................................................8
P7 Reflection upon undertakings to attain objectives.................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
There are various kinds of business projects that an organisation have to go through and in
order to make sure that those business projects become a success, there is a need that
management of businesses shall implement necessary policies and procedure in the longer run. In
the Era of Digitisation, it has become necessary for businesses around the world to implement
digital technology tools so that business can grow as well as prosper over period of time.
Continental Consulting Ltd. is an SME company which is engaged in the business of providing
re-engineering services to other small businesses (Adzic, 2011). The current report will going to
have a detailed discussion on the various digital tools that company can use to enhance the
growth as well as profitability of the firm in longer run and what type of measures needs to be
adopted by the firm to effectively implement the same within the business.
TASK 1
P1 Project aim and objectives
Continental Consulting Ltd. is a firm which is engaged in the business of research as well
as business consultancy to other firms in United Kingdom. The company has a team of experts
which provides business re-engineering solutions to other businesses. The company is known for
providing these services at a very reasonable cost to other businesses and thus they are having
high level of profitability in the longer run. The company is situated in London as well as Greater
London. The company was set up 8 years ago and was growing quite rapidly because of the fact
that it came up with efficient technological tools and techniques that has enable it capture a
higher market share at that time (Cheung, Chan and Kajewski, 2012). The company is headed by
Mario Bindas, who is a capable business person and has taken company forward, since its
inception. The need is to implement latest technological tools within the business for effectively
leading the firm in a competitive market place. The company will be using various kinds of
techniques for the purpose of implementing Internet of Things as a tool in the company of its
clients for enhancing the transmission of data within the business organisation. The specific
Technique that can be used by company is Internet of Things or IOT which allows effective data
transfer within various departments of the organisation and saves a lot of time and increases
overall productivity in the longer run.
Topic: “The impact of digital technology supporting small business growth and
innovation”
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Innovation is a crucial process in a business environment and thus it becomes even more
important to make sure that proper plan is being made by the management that will result in
development of the business in the longer run. Digital innovation encourages an association to
learn different components which can impact their tasks, for example, managing business
transactions, transferring data etc.
Aim: “The impact of digital technology especially Internet of things in supporting small
business growth and development. A case study on Continental Consulting Group.”
Research Objectives
 To Determine the impact of digital technology on revenue and profitability growth of the
company.
 To implement Internet of Things(IOT) in business operations of small scale
organizations.
 To evaluate the role of digital technology on different departments of the business
organisation.
Research Question
 What is the impact digital technology on revenue and profitability growth of the
company.
 How to implement Internet of Things(IOT) in business operations of small scale
organizations.
 What is the role of digital technology on different departments of the business
organisation.
P2 Project management plan with cost aspects, scope, time, quality and communication risk
There is a need to make a proper plan that would contain various data related to cost,
scope, time, quality as well as communication risk. These are the normal activities that a
company has to incur while executing a specific project. These aspects have to be considered
effectively by the project manager so that business growth can be achieved in the longer run. A
effective Project Management Plan would define the various kinds of roles and responsibilities
of different people involved in execution of business activities (Hillson, 2017). It is also known
as communication channel through which its stakeholders are able to know about the project.
There are various aspects which are needed to undertake under project management plan such
are given as under:
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Scope: The scope of current project is quite high, if the company will able to effectively
implement necessary Technological services in the business of their clients then the business of
the company have a scope to grow its sales and capture a higher market share within the
business. It refers to the scope of particular business project and how the same can be effectively
managed. The investment that is required to be made in digitising the processes of business
makes it possible for the company to grow and prosper over period of time. The scope of
implementing IOT within the small business is quite huge and thus it is essential to make sure
that effective policies are being framed by the management of Continental Consulting Ltd so that
business growth can take place of small organisations and they can share the data between their
departments very easily. Thus implementation of IOT( Internet of Things) at the workplaces can
enhance the smooth functioning of business of their business and better management of their
necessary data as well as information (Doherty, Ashurst and Peppard, 2012).
Cost: The cost factor refers to the amount of cost that is involved in effectively executing
the business project. The aim shall be to carefully design the plan and its structure so that cost
can be managed and a reduction in the wastage can be achieved in the longer run. Because of the
fact that company is looking to effectively implement IOT in various business premises of its
clients, there are requirement of more skilled staff that will enable better and efficient
implementation of these Internet of things within the business of their clients and such
implementation requires high level of cost. For the purpose of implementing the project in
businesses of the organisation, there is a need to make a budget for the same. The Sample of the
cost that may incurred for executing the current project of latest technological implementation
are explained as follows:
Total forecasted budget
Particular 2017-18(£)
Implementing technology cost 14000
Promotional expense 6500
Advertisement expense 4500
Catalogues 1450
Training charges 6750
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Total cost 33200
Time: It is also important from the point of view of businesses that the technological
advancement through various tools of internet is implemented within various departments of
clients. The project manager are required to set time frame for each project activity so that the
chances of time lag in action are quite low (Drucker, 2012). Delay in performing activity
maximises the cost of company due to which Continental Consulting Ltd. is required to follow
critical path approach which gives reliable information in order to guide employees to perform in
right direction.
Quality: The quality that are there in the products as well as services of the company can
play a vital role in deciding the fate of business. If the services offered by company are quite
effective enough then it can lead to higher competitive position in longer run. Continental
Consulting Ltd. is involved in the business of providing services related to consulting small and
medium business organisations to implement various digital tools as well as technology in their
business processes so that, they can achieve higher growth and their cost can be reduced to an
extent. It will be beneficial in the longer run for the SME's as they will be able to get more
business and at the same their data can be managed by expert consulting advices of Continental
Consulting Ltd. (Jeston, 2014).
Risk: It is also a important factor that a business manager shall consider before
implementing or executing a business plan. Usually, there are plenty of risk that is involved in
implementing a business plan. A business manager shall keep in mind all of these things in order
to make a good forecast and to make better planning for the growth of business. Thus,
Continental Consulting Ltd. and its manager shall make plans after considering as well as
analysing the risk involved in the same Some of the example of Risk involved are, Lack of skills
as well as knowledge, need of training and development for employees if they have to be
managed in an efficient way etc. only if they will be trained as well as developed enough they
will be able to contribute in the execution of the project going forward (Duffield. and Whitty,
2015).
P3 Work breakdown structure and a Gantt chart
A work breakdown Structure basically entails how the work will be performed and what
time it will take to effectively execute the work over period of time. This structure incorporates
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different knowledge which are required to be done to direct the exploration. Here, the venture
group of Continental Consulting Ltd. has made with separate bifurcation of projects with a
specific goal to recognize practical aim and objectives. The structure basically talks about the
necessary materials that would be needed for carrying out the work and the arrangements that
needs to be made, and the measures that needs to be adopted for the purpose of executing the
task in an efficient manner. This process can enhance the overall capacity that an individual carry
for leadership and it will give a clear as well as better vision to the team that how the tasks needs
to be carried out over period of time. This tool mainly assist the management to take decisions
and make strategies for business expansion or assisting a project. It is prepared on the basis of
aim and objective of business. The work breakdown structure of project report is described as
follows;
 Aims and Objectives of the research.
 Literature Review
 Conflicts
 Research Aim
 Selection of Target Respondents
 Plan Framing
 Evaluation and Criticism of the gathered Data
Research is the process of effectively implement the business decisions over period of
time. Continental Consulting limited is a small organisation and is having dedicated team of
experts individuals who have the expertise to implement various data in different business
organisation an efficient manner. The company is incorporating various types of latest tools as
well as technologies to serve its clients in an effective manner and allowing them to achieve
higher growth in the longer run (Fisher, 2011). So, considering the point organisation is set to
build up a compelling arrangement research is been conducted by using primary source of
research. The number of respondents that has been chosen for the purpose of research is 35
respondents, these are those individuals who either have their own business and are planning to
launch a new business, thus the respondents represents the Entrepreneurial Community in
general.
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A Gantt Chart can be regarded as the bar chart which essentially communicate as well as try to
conclude the results in a graphical form. The following Gantt Chart has been prepared for
Continental Consulting Limited:
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A time Scale gives the crucial data to the organisation as well as to the manager of the
company. Each task as well as action of the research do requires a particular time duration and
thus, the task shall be completed within the stipulated time. A good Time Scale will categorically
laid down the various tasks that needs to be performed and within the given time frame
(Kowalkowski, Kindström and Brehmer, 2011).
TASK 2
P4 Small scale research by implementation qualitative and quantitative research
There are two types of sources through which the researcher can gather necessary data as
well as information. These sources include:
Primary Sources: Under this, the information is gathered directly from respondents. Some of the
ways through which information can be gathered are interview, questionnaire, survey etc. These
are also called as primary Data.
Secondary Sources: These are sources that are being used from sources other than primary
sources like magazines, journals, articles etc. applied research are considered as secondary
sources of information.
Questionnaire
Q1) What is the impact of Digitisation on the growth of your Business, was it
positive or negative?
a)Positive 28
b)Negative 7
b) No 15
Q2) Does the Consultancy Services provided by the company is helpful for
your business?
a) Yes 20
b) No 15
Q3. Which Department of your organisation is most benefited with the
Services provided by Continental Consulting Ltd.?
a) Sales Department 5
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b) Purchase Department 5
c) Finance Department 20
d) Marketing Department 5
Q4) Are you happy with the pricing of services provided by the company ?
a) Yes 25
b) No 10
Q5) What benefits are achieved by business after getting consult from the
experts of Continental Consulting ?
a) Reduction in overall cost 15
b) Effective transmission of data 10
c) Higher Level of Profitability 10
Q6) Who is the biggest beneficiary within the internal environment of your
company of the consulting services that are being provided by the continental?
a) Customers 15
b) Suppliers 5
c) Employees 10
d) Owners 5
Q7) Was the consultancy provided by the company is efficient enough or there
is a need for training and development for the same?
a)Yes 25
b)No 10
Q8) What are the main challenges faced by management during adoption of
digital technology within an Continental Consulting Ltd.?
Cost 15
Time 10
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Conflict 10
Q9) What kind of tools are adopted by continental consulting for digitising the
business process ?
Social Media 10
Internet of Things (IOT) 20
Cloud Computing 5
TASK 3
P5 Evaluation research and data using appropriate tools and techniques
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Theme 1: Impact of Digitisation on the growth of Business.
Q1) What is the impact of Digitisation on the growth of your Business, was it
positive or negative?
a)Positive 28
b)Negative 7
Interpretation: Question was put In front of respondents that what is the impact of digitisation
on the overall growth of business, majority of people that is 28 out of 35 said YES its Positive,
While 7 said its Negative.
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28
7
a)Positive
b)Negative