Business Growth: Digital Technologies Impact on Radio Flyer Case Study

This research project, focusing on Radio Flyer, examines the impact of digital technologies on business growth and development. The introduction highlights Radio Flyer's focus on modern technology and its influence on sales and customer loyalty. The literature review explores the influence of technological advancement, the impact of digital technology on company performance, barriers to implementation, and the advantages of using the latest technology. The research methodology outlines the type of research, design, philosophy, approach, data sampling, collection methods, and ethical considerations. The findings and recommendations sections provide insights into the challenges and benefits of digital technology adoption. The project also includes a Gantt chart to illustrate the project's schedule and a comprehensive list of references. The report highlights the importance of digital tools for enhancing business performance, improving decision-making, and maintaining a competitive edge in the market. The study emphasizes the need for small businesses to embrace digital technology to meet consumer demands and achieve sustainable growth.

RESEARCH PROJECT

Table of Contents
TITLE:- ...........................................................................................................................................1
CHAPTER 1 INTRODUCTION.....................................................................................................1
1.1 Overview of research............................................................................................................1
1.2 Significance of research........................................................................................................1
1.3 Aims and objectives..............................................................................................................2
1.4 Research questions................................................................................................................2
1.5 Gantt chart.............................................................................................................................2
LITERATURE REVIEW................................................................................................................5
2.1 Influence of technological advancement on company.........................................................5
2.2 Impact of digital technology on company performance.......................................................5
2.2 Barriers faced by enterprise while implementing digital tools at workplace........................7
2.3 Advantages of using latest technology..................................................................................8
2.4 Reason behind using digital technology...............................................................................8
RESEARCH METHODOLOGY.....................................................................................................9
3.1 Type of research....................................................................................................................9
3.2 Research design...................................................................................................................10
3.3 Research philosophy...........................................................................................................10
3.4 Approach.............................................................................................................................10
3.5 Data sampling.....................................................................................................................11
3.6 Methods of data collection..................................................................................................11
3.7 Ethical consideration...........................................................................................................12
DATA ANALYSIS........................................................................................................................12
4.1 Findings...............................................................................................................................21
RECOMMENDATION AND CONCLUSION.............................................................................22
5.1 Recommendation................................................................................................................22
5.2 Conclusion..........................................................................................................................22
REFERENCES..............................................................................................................................23

TITLE:-
“To identify the influence of digital technologies on business growth or development: A
case study on Radio Flyer ”
CHAPTER 1 INTRODUCTION
1.1 Overview of research
Radio flyer is a small American business entity which is known for its marvellous toys
scooters, tricycles, bicycles, horses and different types of games for kids. It means main
objective of company is to focus on advanced technology in order to facilitate consumers with
modern artefact which may attract their minds (Bharadwaj and et. al., 2013). As a result
company get succeeded in maximizing their sales by satisfying needs of entire society as well as
gain customers trust or loyalty. Thus, this part of research is going to highlight the subject area of
investigation for getting aware about the actual reason behind conducting research is to
understand the impact of digital technology on growth of small business. According to survey
report it has been analyse that small entities are facing numerous of issues or problems while
accomplishing various business operations. Thus, it is essential to adopt different types of
modern technologies in order to design splendid quality of toys or advanced games because in
today's world children's are addicted towards high tech equipments.
Basically, study of modern technologies are indispensable for understanding their
benefits and drawbacks on business operations. Hence, number of things are going to covered in
this research for acquiring deep knowledge about advanced technology in order to implement it
at workplace in proper manner. Along with this, small firms are very curious to enhance their
company turnover due to which managers of Radio flyer is trying to learn more about modern
equipments for running their entity in much better way. Apart from this, various factors that
helps selected firm and entire small business entities in their growth or development will be
covering in this project.
1.2 Significance of research
In this part of project learner is going to understand the corrective reason behind studying
the significance of digital technology for small firms (Parkay, Stanford and Gougeon, 2010).
Thus, one of the major thing which shows that implications of modern techniques at workplace is
highly mandatory is that it helps in maximizing their company sales by satisfying needs or
1

demands of consumers. Moreover, another most significant factor is that it helps overall
association in establishing their image at marketplace by gaining trust of domestic as well as
foreign clients. Radio flyer is engaged in manufacturing toy company for facilitating kids with
modern technology of games which aids them in seeking attention of overall society. In fact,
manager of an association is trying to expand their business across distinct regions which
resulted in maximization of high range of return on their initial investment.
Instead of all this term it has been analysed that implementation of modern technology is
indispensable for overall corporate world either small or medium because it helps companies
during complex situations and facilitate them with number of options for accomplishing business
operations. However, studying of this subject area is mandatory due to creation of advanced
world because mostly public are getting addicted towards newly launched equipments due to its
features, advancement and uniqueness. Therefore, it is essential to learn more about digital
technology in order to understand the way of handling or regulating so that they can minimize
the probability of accidents which might occurred due to complexity in modern equipments
(Mbogo, 2010).
1.3 Aims and objectives
Aims:- “To identify the influence of digital technologies on business growth or
development: A case study on Radio Flyer ”
Objectives:- To find out the complexity of modern technology faced by small firms. To ascertain the advantages of implementing latest technologies at workplace.
 To identify the reason behind using digital techniques by Radio flyer.
1.4 Research questions
 Elaborate barriers faced by Radio flyer while implementing modern technology?
 What are the advantages of using latest tools for enterprise?
 What are the major reason behind adopting digital technology by Radio flyer?
1.5 Gantt chart
It is a part of bar chart whose main objective is to highlight an appropriate schedule of
entire project in order to accomplish overall project in much better way by understanding each or
every aspect. Basically, graphical representation shows various activities in corrective manner as
2

well as their time duration so that project should complete in desired time frame. Along with this,
it also shows the ending or starting dates which helps in completing task or activities in perfect
manner by considering necessary terms or conditions. In fact it is beneficial for company
because as per this tool managers needs to split job role into various sections for attaining its
objectives in a desired time frame (Hanna, Rohm and Crittenden, 2011). Additionally, number of
things are identified which shows that researcher team or company must implement this
technology in order to overcome possibilities of mistakes or errors. Therefore, various benefits of
Gantt chart is described as follows:- Clarity :- According to this element it has been analysed that Gantt chart shows
information in more clear way by highlighting all the activities in much better way. It
helps researcher team in various forms such as by clearing things in detail format. Communication:- Effective interaction is indispensable for accomplishing business
activities in more better way by showing roles or responsibilities of each or every
employees Time management:- Designing of suitable schedule aids an association or project team in
managing duration of different activities.
 Coordination:- Supports staff members to coordinate in their team for attaining set
objectives or targets.
Hence, it has been understood that Gantt char and work breakdown structure is very
much indispensable for small business entity because it helps managerial team in overcoming
several success obstacles such as; reduce confusion, probability of errors and so on. Thus, it must
be used by research and development team while accumulating necessary information or data
due to its effectiveness or efficiency (Kannabiran and Dharmalingam, 2012).
3

4

LITERATURE REVIEW
In this section views or opinions of distinct authors are going to expressed in order to
enhance the knowledge about digital technology because it helps in overcoming various
organizational barriers. However, it is essential to analyse the perspective of various scholars for
acquiring depth knowledge of modern equipments and its usage at workplace. Along with this,
helps in understanding the major connection between implementing high tech equipments with
maximization of productivity. Therefore, various views of different authors are described as
follows:-
2.1 Influence of technological advancement on company
According to Jocelyne Dragon enhancement of organizational productivity is fully
depend upon proper usage of modern technology because it aids an enterprise in every
complicated situations. The advancement in digital technology is helpful in perform business
activities in an effective or better manner. It is time saving as well as cost consuming to business.
It is helpful in develop positive impact on business. Economic crises is increasing day by day
which resulted in maximization of competition and in order to cope up with high level of
contention an organization needs to use modern technologies. High tech tools are very useful in
various manner due to which company get succeeded in improving their performance. Along
with this, established the positive goodwill at marketplace by gaining trust or loyalty of
customers. All these thing are happened due to usage of effective systems as well as managers
are easily fulfilling the demand of distinct customers.
2.2 Impact of digital technology on company performance
According to Smith, (2011), Modern technologies are playing a very vital role in
corporate world because it aids an enterprise in various manner such as; facilitating employees
while performing their job role, storing data for future records, maintaining privacy of
confidential information and so on. Along with this, supports in transferring concise facts or
5

figures across different branches of an association. As per views of Cocchia, (2014), Radio Flyer
is trying to use modern equipments while manufacturing their advanced toys which consist of
several features in order to seek the attention of millions of clients. Society is developing due to
introduction of high tech equipments as well as emergence of foreign products which encourage
customers towards usage of standardized devices. Thus, it has been analysed that implementation
of modern technology have a major impact on a company performance in various manner
because it helps staff members to accomplish their distinct role in much better way.
Hence, number of things are identified which shows that modern technologies are having
a major impact on a company performance in various manner are highlighted underneath:- Improvement in judgement process:- First or foremost thing is that delaying of necessary
decisions are hampering the company productivity in a several ways. For example; in
past time if marketing managers needs to invest extra money in advertisement process
then they have to follow some specific procedures for gaining additional funds. But in
today's advanced world managers are directly contacting with high authority or finance
department for investing sufficient capital by using modern techniques of
communication. Hence, it has been analysed that decisional process is improving day by
day due to adoption of advanced equipments for interaction as well as immediate
response has been received. As a result, it management get succeeded in maximizing the
organizational productivity which automatically enhance their performance. Immediate transaction:- Delivering of goods by Radio flyer becomes easy or affordable
which helps an organization in gaining trust of customers. Along with this, this factor
also aids in establishing a positive image at marketplace. As a result, sales volume is
increasing on a regular basis.
 Website designing:- As per this factor customers are acquiring accurate data, information
and current position of an enterprise at marketplace by using internet sources that is also
a part of high tech services. In fact most of the consumers are attracting through attractive
websites of a company and prefer products by showing pictures of it.
Hence, by summarizing above facts which is expressed by one of the famous author it is
identified that improvement in organizational performance are only accomplished with the use of
modern technologies due to its unique features. Moreover, consumers are changing their taste or
preferences due to emergence of various creativity.
6

2.2 Barriers faced by enterprise while implementing digital tools at workplace
As per the views of Peres, Muller and Mahajan, (2010), Adoption of advance idea is not a
big deal but integration of it in an organization is major challenge for managers because every
individual is not having potentiality to manage complicated devices. For example; buying a car is
not tough but maintaining it and using is more difficult task instead of purchasing. Digital tools
are full of complexity due to availability distinct types of features which is not easy to
understand until or unless an individual is having a depth knowledge about it. However, modern
technologies are consuming maximum amount because while designing creative items costing is
increasing due to need of unique raw materials. In fact, as everyone knows that “innovative item
is full of confusion which is not easy to determine” because of its advanced features. As per the
survey report most of the individuals are illiterate due to lack of money and not having source to
acquire knowledge. UK is having lots of slums area where illiterate or poor people are living
which affects the economy of a nation in distinct manner. Basically, Radio flyer is also small
firm due to which they don't have large amount of funds. As a result failed to afford experienced,
knowledgable and high skilled employees. Thus, unskilled workers is one of the major obstacles
that is faced by managerial team while implementing modern technology at workplace. Apart
from this, various other problems are identified which is faced by company while using modern
technologies at workplace is described as follows:- Maximization of pressure:- Radio flyer is an association whose main objective is to
serve kids with outstanding games with modern techniques such as remote system,
automatic and so on. In order to design a splendid quality of products managers are using
modern techniques but at the same time it will also increase the mental pressure of
management in various ways. For example; modern equipments are having a lots of parts
in their digital technology due to which pressure of managers get maximized and they
need to be very attentive while designing advanced products by using modern tools. Consume maximum funds:- Implementation is a very long process because digital
technologies are having so many small equipments and full of high tech raw materials
due to which it cost very high. Single mistake in this hamper entire work. Lack of skilled or experienced employees:- Digital tools are handled or managed by
workers due to which it is essential for managers to recruit talented workers in order to
7

reduce the cost of training programmes. Thus, this factor is also act as a one of the major
barrier at workplace and hamper the growth of Radio flyer because it is a small firm.
 Difficult to understand:- Complication level get maximized due to the availability of
complicated buttons, signs, lights and having very confusing direction.
2.3 Advantages of using latest technology
According to Schmidt and Cohen, (2013)Radio flyer needs to use modern technologies
due to changes in consumer demands because in today's scenario customers are get addicted
towards modern equipments such as mobile phones, computers, iPad and so on. Therefore, major
benefits of adopting latest technologies are described as follows:-
 Improve the product quality of an enterprise which resulted in maximization of return by
satisfying needs of consumers.
 Increase the productivity of an enterprise by fulfilling the demands of clients.
 Enhance the current positioning of an association by serving clients with desired items.
 Accomplish business activities in a minimum time frame.
 Protect confidential information and data from hackers by creating private passwords.
 Usage of artificial intelligence is useful for organization while designing Robots and
several advanced games.
2.4 Reason behind using digital technology
As per view of Kannabiran and Dharmalingam, (2012) Small business are implementing
modern technologies at workplace due to various reasons such as; it aids an association in
generating maximum revenue, establishing company goodwill, increase the productivity of an
enterprise and so on. In fact, demand of customers is also increasing day by day due to
emergence of various foreign countries . Hence, some of the important reason that shows that
digital technology is very much indispensable are mentioning as follows:-
 Fluctuation in macro factors:- Rules and regulations of political parties are modified as
per consumer demand and changes in marketplace. In order to deal with these kind of
problem and uncertainty an association needs to implement latest techniques for
overcoming distinct obstacles.
 Productivity maximization:- As per this term it has been analysed that usage of various
high tech equipments is very helpful for company success or development.
8

 Control external wastage:- Digital technology aids finance department during calculating
expenditure and other expenses which may hamper the profit of an organization.
 Promote goods or services across the international boundaries with the use of internet
sources such as; social media (Teece, 2010).
RESEARCH METHODOLOGY
Research is a core factor of systematic plan, which will proceed by other procedure. It is
initial for conducting research. It includes qualitative and quantitative research. Both has
different parameters of investigation. It involves experiments, surveys, observations, and
secondary data. Qualitative methods goal is a absolute detailed description of observation which
includes linguistic context events and condition. Quantitative methods intended to classify its
features, sum them, and prepare statistical models to test expected and explain observation.
Radio Flyer is following quantitative method to employ mathematical model, theories
and hypothesis test. It provides fundamental connection between empirical and mathematical
expression (Cavalcante, Kesting and Ulhøi, 2011).
3.1 Type of research
Every organization works in different criteria and thus it have distinct requirement for
research. It conducts research in a direction which is most beneficial for it. That is foremost
concentrated to achieve its target. There are distributive research types that leads in different
manner such as – basic, applied, problem oriented, problem solving, descriptive research.
Descriptive research involves characteristic of population. It does not answer the
questions with why/who/how when rather it focused on 'what'. For instance, to what degree are
special – education teachers concerned about using artificial intelligence? This research can
either qualitative or quantitative both. It can measure information in metrics form, such as
scores in an examination, or patterns of communication to use a certain media source.
It includes gathering data that describe effect and then organizing information in tabular,
grids, and then describes data collection. It shows data in graph and chart forms because human
mind always can't relate with raw data (Kretschmer, 2012). To understand the data in mannered
way pictorial representation helps a lot. Detailed statistics has significance in reducing data to
manageable form. Statistics apply to data collection and analysis techniques that yield to prepare
9

report document to measure central tendency, variation and correlation. Its main objective is to
elaborate, explain, and validate things.
3.2 Research design
A research design is a set of rules and process that is used to collect and investigate
measures of the covariants specified in research problem. It refers overall strategy that leads to
integrate different elements covered in study in consistent and logical way. It ensure that it
effectively formulate problem, it construct blueprint for the collection of data, measurement, and
analysis of data. It determines design which can be used around mass data.
It is essential to draw a design to answer investigation questions, otherwise it will not
possible to proceed towards problem solving because it will drawn to risk. Any research design
can vary according to its complexity and length, but any design which is feasible to it follow
certain things such as- identification of problem and choose to justifying selection, problem area,
research question that are major part of selected problem, effectively identify necessary data for
sufficient test of theory. It also emphasize on analysis method description which are applied to
data for determining possibility are true or false (Benner and Tripsas, 2012).
3.3 Research philosophy
Research philosophy is crucial in research methodology. It deals with source, nature and
creation of knowledge. In general, it can be define as content in which data about a physical
process should be accumulated, studied and utilized. It can be classified as ontology,
epistemology, positivism, realism, interpretivism and axiology.
Positivism is based on evident social entity. Investigation strategy is core of data
collection and hypothesis development (Mithas and et. al., 2012). These theories will be tested
and approved for further research. Interpretivism is a branch of epistemology, concentrating on
distinguish between human and social factors. It is centralized on defining diversification
between people and social life.
3.4 Approach
There are mainly three types of approaches like deductive, inductive and abductive
research. Deductive research consist of testing validation of possibilities. If given input is true
then output must be true. It specializes from conventional theories. Whereas inductive approach
focused on evolution of new ideas and generalization. It begins with investigation inquiry and
10