Digital Technology Supporting Small Business Growth and Innovation

This report, focusing on Continental Consulting Limited, investigates the impact of digital technology on small business growth and innovation. It begins with an introduction highlighting the importance of innovation in today's digital era, emphasizing the role of digital tools in enhancing business operations. The report details the aims and objectives of the study, the importance of innovation, and includes a project development plan with cost estimations, scope, and time management considerations. It presents a work breakdown structure and a Gantt chart to visualize project timelines and tasks. The report then outlines a comprehensive project plan, including a milestone schedule and a discussion of project management processes and research methodologies. The research aims to analyze the impact of digital technology on small businesses, identifying its influence on business activities and the interrelationship between digital technologies and growth. The project management plan covers various aspects like cost, scope, time, quality, communication, and risk management. The report emphasizes the significance of digital technology in enhancing a firm's competitiveness and profitability, providing a detailed analysis of its application in a small business context.

Managing Successful
Business Project

TITLE:
“The impact of digital technology supporting small business growth and innovation”
INTRODUCTION
Innovation is consist to be an effective element and plays crucial role in progress and
development of business at market place. In this modern era the major purpose of each business
organisation is to attaining higher growth and success through enhancing the profitability of firm
at market place. In this report Continental Consulting Limited is a chosen organisation. It is a
research and business consultancy which is owned by Mario Bindas. In today's modern world
people are very much based on digital tools and technologies and it is necessary for a small as
well as large business organisation is to use digital tools and technologies as to rendering high
quality products and services to their potential buyers (Bruce, Malcolm and O’Neill, 2017).
There are various kind of equipments within digital technologies such as computer, IT facilities,
mobile phones, these are effectual in supplying different kind of benefits to the firm or its
operations. This report contents the study about the aim and objectives of firm, the importance of
innovation in attaining higher growth and profitability along with project development plan, a
small scale research through applying qualitative and quantitative methods and in the end
essential data and information will be concentrated and interpreted in appropriate manner.
TASK 1
P1 Aims and objectives of this study
The major focused area of each small as well as large business organisation is to attaining
higher development and success at market area through applying various new and advance
technologies. In the world full of digitalisation it is necessary for each business organisations to
use digital equipments as to long run of business activities within the competitive market. In the
modern era, traditional methods are not appropriate in nature in regards to marketing and due to
high competition organisations are concern on replacing the traditional method by adopting
digital technologies (Christopher and et. al., 2011). Digital technologies has turned out to be
essential piece of business. It is being ensured by the innovation that the activities are being
completed in better and powerful way. Different sorts of technologies are being developed inside
the market and organisation avails its benefits which are relying upon the reasonableness of
business. Innovation causes organization to include better rivalry inside the market and in this
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manner deliver the results which are being normal. The appropriate selection of the digital tools
and technologies provide monitory benefit to the firm or its various business operations.
Continental Consulting Limited is a research and business consulting company, the main
business of the firm is business process Re-engineering and potential buyers involve small and
medium size manufacturing organisations which are located in and around London and Greater
London. The company has applying old IT tools and technologies and it is required for them to
make some innovation in their tools and technologies as to attaining higher growth and success
at market place (Sullivan, 2017).
Title of the Research: “The impact of digital technology supporting small business growth and
innovation”. A case study on Continental Consulting Limited.
Background of the Project:
In today's modern world competition is on its peak and it is the prior responsibility of
organisations to attaining higher competitive edge in respect to providing high competition to
their rivals. Technologies plays vast role in managing organisational operations and activities in
effective manner. As a small and research and business consulting organisation it is essential for
Continental Consulting Limited to make appropriate innovation in their tools and technologies as
to providing satisfactory products and services to their significant customers in respect to
attaining high growth and profitability at market place (Li, Tan and Hida, 2011). It is essential
for firm or its higher authority to analyse the needs or firm as to making appropriate
improvement in their operations so that firm can sustain an effective position at market place. As
a small business firm Continental Consulting Limited has come up with the IT needs and focused
on making appropriate changes and innovation in their technologies in respect yo attaining
growth.
Research Aim: “The impact of digital technology supporting small business growth and
innovation”. A case study on Continental Consulting Limited.
Research Objectives:
 To analyse the importance of innovation in the growth of small business enterprises.
 To identify the impact of digital technology on business activities. To ascertain the interrelationship between digital technologies and small business growth.
Research Questions:
 What is the importance of innovation in the growth of small business enterprises?
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 What is the impact of digital technology on business activities? How to ascertain the interrelationship between digital technologies and small business
growth?
P2) Project Management Plan.
Project direction plan is consist to be the most essential element for each business
enterprises as it is effective for an firm to build an appropriate plan in order to accomplishing
organisational desired goals and objectives in appropriate manner. In an organisation
management plays vast role in creating an appropriate project management plan in respect to
implementing all activities in a systematic manner (Harmaala, 2015). There are various element
which consist to be the most effective factor and provide support to the project management plan
to organise all business operations in systematic manner, in which some are evaluated as below:
Cost: This states as the most essential element which plays crucial role in creating an effective
project management plan. As a small business enterprises Continental Consulting Limited needs
to have proper flow of funds and capital because there are various activities which will need
capital to complete such as raw material, cost of assembling various parts, machines, labour etc.
The major obligation of a manager is to design an appropriate budget in which a significant
amount is allotted to each activity. A proper budget is effective in adoption of technology within
the work place. An estimation of cost which is incurred in the project is described as below:
Total forecasted budget
Particular 2017-18(£)
Implementing technology cost 18000
Promotional expense 6000
Advertisement expense 5200
Catalogues 1800
Training charges 6500
Total cost 37500
Scope: This also consist to be an another major facto which plays effective in creating an
effective management place (Sople, 2016). Each business has some scope and they work as to
reaching at their desired aims and objectives. As a small business concern the major scope of
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Continental Consulting Limited is to expansing its business operations through follow new and
advance application within the work place in respect to attaining higher growth and success at
market place.
Time: Time which is being apportioned by the administration for completion the task along with
time is an essential element which needs to be managed by the firm as to accomplishing
organisational goals in limited period of time. It is very important for making the time limit as it
helps in achieving the objectives and therefore inspire the workers for doing likewise. It is
important for Continental Consulting Limited to manage time for each task in order to
completion of targeted operations within the given period of time (Mathew, 2012).
Quality: In today's scenario People are very much focused about the quality of products and
services, so it is necessary for each business enterprise to provide high quality products and
services in respect to sustaining customers for long time. This create value in high growth and
success of firm. As a small business enterprises it is essential for Continental Consulting Limited
to produce more qualitative products as to enhancing the goodwill of firm at market place.
Communication: This considered as a most effectual component which plays effective role in
maintaining the appropriate flow of data and information within the firm. There are different sort
of representatives who are predominantly dealing with the task keeping in mind the end goal to
give motivational component. Fundamentally oral correspondence was being done to have the
urgent information and in this manner direct the examination. It is important for Continental
Consulting Limited to use appropriate tools such as phones, computer systems as to providing
data and information to the each department of the firm.
Risk: This can be characterized as the vulnerability which is appended with venture. There are
different sorts of hazard factor appended to the venture of embracing computerized innovation
inside the procedure and activities. For instance , less response from the customers over the
region of business in the wake of bringing digitalisation as there are some who puts stock in
customary technique (Jupp, 2016).
Resources: This is also an effective element which is needs to managed by each business firm as
to attaining growth and success through implementing right source at right place.
P3 Work breakdown structure and Gantt chart
Gantt Chart :
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This is the apparatus which is being used keeping in mind the end goal to see out the
work consummation for the dispensed task. This type of strategies are being used by the firms
through charts and graphs for the purpose of attaining growth and success. While planning
designs and methodologies, this sort of tool is being adopted. This sort of time administration
tool can be used by the Continental Consulting Limited for outlining the time scale for inspiring
the representatives who are taking a shot at specific assignments. There are number of parts and
duties which is being satisfied by a worker alongside ideal usage of assets (Keeble and
Wilkinson, 2017). There are number of task which are being move from the undertaking because
of reception of this sort of hardware. There is the vital part which is being played inside
observing and movement administration which are exceedingly used and in this way it should be
ensured that the versatile application benefit are substantially more powerful and productive.
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Work breakdown structure:
This sort of structure is about assignment of parts and obligations which is being finished
by organization all together best total the venture with creative personalities adequately. There
are different sort of variables which are being used for settling the issues and multifaceted nature
and the witticisms regular one is work breakdown structure in littler parts which thusly can be
checked and subsequently overseen in appropriate way (Piscicelli, Ludden and Cooper, 2018).
This method is effective in classifying the organisational work in small parts which helps the
firm or its authority in completion of the organisational work within the desired period of time.
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Illustration 1: Work Breakdown structure
(Source: Work Breakdown structure, 2017)
M1 Comprehensive project plan, milestone schedule and project schedule
It is essential for an organisation to manage cost, scope, risk for creating an appropriate
project management plan.
Cost: It is essential for each small as well as large business enterprise to have an appropriate
arrangement of funds and capital as to handling the all business operations in appropriate
manner. The estimated cost of the project is 37500 £ in which all the essential activities are
involved like Implementing technology cost, Promotional expense, Advertisement expense,
Catalogues, Training charges etc.
Scope: The major scope of firm is to attaining high growth and success through implementing
innovation within the market place.
Risk: Issue and conflicts are unwanted in nature and it is essential for an organisation to manage
the risk so that activities can be completed within desired period of time.
Time: This considered as the most essential factor as it is the major responsibility of a manager
to set an appropriate time for each activity or operation in respect to completion of the work
within desired period of time. The project is completed within the time duration of 15 weeks.
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D1 Project management process and appropriate research methodologies
As per the views expressed by Pot, 2011, the project management plan considered the
entire threat as their weakness and create vast impact in profitability of firm. This can help in
dealing with those limitation and making a proper arrangement for the association to finish
extend in viable way. Through project management plan, Gantt charta exercises and
improvement design, progression in the whole business venture can be overseen. Different
powerful procedures can hep an organization in meeting wanted result to the individual or
enterprise in most sorted out way. The project into consideration is based on implementing
advancement technologies within the business operation of the firm as it is effective in attaining
higher growth and success through enhancing the operations of the firm at global level. The
present investigation is based on qualitative aspect as the whole collected data and information is
based on qualitative means. Qualitative research is effective in providing a appropriate
theoretical framework to understand the aspect of the investigation work in effective manner.
Primary and secondary sources are used as to gathering proper information as to reaching at
potential outcome. primary source is effective in conducting survey with the help of filling the
questionnaire from respondents. Secondary source is effective in providing a proper theoretical
framework by analysing the opinion of various authors and writers.
TASK 2
P4 Application of quantitative and qualitative tools for data collection
Research is consist to be a crucial aspect in which data and information plays vast role in
carry out the research activities in well planned and systematic manner. As to conducting an
effective research work it is the major responsibility of researcher to gather appropriate and
relevant data for the research work in respect to drawing valid and appropriate outcome. Data
and informations are mainly gather through various sources such as primary as well as secondary
source of data collection (Kregor, Breslin and Fountain, 2012). Researcher apply both the
methods as to gather appropriate information for the research work. In this modern business era
business firms are widely focused on implementing digital tools and applications within the firm
as to reaching at high growth and success at market area. Organisations are mainly applying
qualitative and quantitative methods for gathering data and information for accomplishing the
goals and objectives of the firm in appropriate manner.
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Quantitative Method: This is very important for gathering pertinent information and data for the
investigation work. It is utilized by firm to managing research procedure for analysing the result
and outcome an orderly way. In this mathematical tools, diagrams, graphs are useful in assessing
the suitable answer.
Qualitative Method: In this information has been gathered by estimating the component of
quality as in this data has been gathered on the basis of qualitative aspects. It helps in discovering
the diverse sources which are as far as quality viewpoints. For giving better results organisations
are focused on analysing the accumulated data through various strategies and tools (Roehrich,
Hoejmose and Overland, 2017).
In the present work data has been gathered through filling the questionnaire by 30 respondents.
Questionnaire
Name:
Age:
Gender:
Contact Number:
Email Id:
Address:
Q1) Does Digital technologies are effective for attaining growth for small business
enterprises?
Yes
No
Q2) Is it important for Continental Consulting Limited to bring innovation in their
technologies?
Important
Not Important
Q3) Does the transformation in digital technologies are effective for Continental Consulting
Limited to providing competition to their rivals?
Agree
Disagree
Q4) What are the major benefits derived by the implementation of digital technologies within
the work place?
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