Digital Technology Impact on Rolex Business Activities Report

This report analyzes the digital transformation of Rolex, a renowned watch brand, focusing on its expansion into the online market. The report begins with an introduction to digital technology's impact on business, emphasizing its role in data storage, customer preference analysis, and promotional activities. Task 1 outlines the project's aims, objectives, and research questions, followed by a detailed project management plan encompassing scope, cost, quality, communication, time, resources, and risk management. It also includes a work breakdown structure and Gantt chart for effective project execution. Task 2 delves into the application of research methods, including qualitative and quantitative approaches, and the use of primary and secondary data collection techniques, such as questionnaires. Task 3 discusses the tools used for research and provides recommendations for drawing meaningful conclusions. The report highlights the importance of technology in modern business, the need for strategic planning, and the significance of data-driven decision-making for business growth and transformation.

Managing Successful
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives...............................................................................................1
P2 Project management plan with scope, cost,, quality, communication, time, resources and
risk..........................................................................................................................................2
P3 Work breakdown structure and Gantt chart......................................................................3
TASK 2............................................................................................................................................5
P4 Application of research methods for carry out research...................................................5
TASK 3............................................................................................................................................8
P5 Use of adequate tools for research....................................................................................8
P6 Recommendations to draw meaningful conclusions.......................................................17
TASK 4..........................................................................................................................................18
P7..........................................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................24

INTRODUCTION
Introduction of various technologies at a fast speed has completed the business activities
completely. This provide number of benefits to enterprises and contribute a lot in development of
business (Eckerson, 2010). One of the main feature of digital technology that this provide an
opportunity to store huge amount of data and information for long period which was not possible
in early times. Technology offer variety of platforms to organisations through which they can
collect huge amount of information related with tastes and preferences of customers. All this
support top managers while take decision about expansion of commercial operations. Further,
one of the major feature of digital technology is that it support firm in do effective promotion of
its products and generate more number of profits. Rolex a popular and well established brand
which produce and offer different type of watches to its customers is consider in present report.
Organisation wants to enlarge its business activities online and for execute the same in effective
way various type of research methods such as qualitative and quantitative is applied under this
study. Further, project management plan with its objectives and aims is also given in this.
TASK 1
P1 Project aims and objectives
In present business environment, needs and requirements of consumers are change at a
very fast speed and it is really essential for every enterprise to satisfy the same in order to
generate large amount of profits. For achieve the same, it is important for every organisation to
use updated technology in order to serve to its customers. Technology development has changes
the traditional process of business completely (Crane and Matten, 2016). One of the main
feature of introduction of various technologies is that it provide various advantages to business
enterprise for example, today technology provide an opportunity to managers to collect huge
amount of data regarding the needs and wants of consumers which help enterprise in better
satisfy their needs and wants. Cloud technology help enterprises to store and share large amount
of information from one place to another in just few minutes. Technology offer variety of
communication channels to enterprise in order to communicate with its target customers and
make them aware about the features of its product (Smith, Binn and Tushman, 2010). All this
increase effectiveness of business activities and contribute towards growth of company. But use
of updated and new technology require huge amount of financial resources to be invested in
resources. Another feature of technology is that it provide number of platforms such as
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Facebook, twitter and YouTube and today every single person use these platforms and this
support firm to reach huge consumers. Further, technology bring coordination and cooperation
between various business operations (Den Hertog, Van der Aa and De Jong, 2010). This ensure
integration of business operations & help top management to find any kind of deviation and
remove the same. Moreover, technology ensure fast execution of production process and help
enterprise in maintain the quality of its goods. Overall, it can be concluded that technology affect
the business operations in a positive way.
Aims: Implementation of technology to transform business operations
Objectives:
 To examine the implementation of digital technology on business activities.
 To analyse the need of transformation of business. To determine the effectiveness of digital technology on business activities.
Research Questions:
 How effective digital technology is to transform business activities?
 Why is important to transform operations of business?
 How implementation of digital technology will take place?
P2 Project management plan with scope, cost,, quality, communication, time, resources and risk
In order to achieving the decided goals and aims, it is essential for Rolex firm to
development an impressive plan related to the management of project. It will be facilitative in
provide the right direction at the time of implementing of various kinds of operations or tasks in
an effective way. Without it, firm can not accomplish its set target as well as objectives properly
(Chesbrough, 2010). The plan of project management is helpful in assuring about finishing the
effective activities and tasks at one time. It will helps in giving the long team advantage to a
business firm. In addition to this, manager guide or manage the cost, resources, quality and
also risk. Generally, the requirement of project management plan is to form the business project
useful and also successful. Under this the Rolex business entity wants to increase its commercial
online with use of new and advanced technology. In order to this, it is essential for firm to
include the presented factors:
Scope of project- From the technological progress, the needs and wants of customers fast
increasing. In this current time period, here are many development opportunities in this business
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environment. It will give the more opportunities to an organisation by providing the various
kinds of products to consumers.
Management of risk- Each business is concerned with the project in in this many risk is
included so it is necessary for the cited company to include all the necessary factors (Ahmed
Dine Rabeh, Jimenez-Jimenez and Martínez-Costa, 2013). Before implementation of project
operations it is necessary for manager to calculate the risk from this its impact will be reduced. In
context to Rolex, it is a big brand and in its project the chances of risk is less.
Quality control- The quality is an important part of full project. It is necessary for the
manager to maintain the quality of project through including effective factors. Rolex firm offers
the better and satisfactory quality of goods or watches to its consumers and it is important for
employer to maintain this in context to increasing the growth and profitability of an organisation.
Cost- The cost of big projects will be high and there will be need of more money or
funds. In context to this it is necessary for manager to arrange money by using the different tools
and techniques (Gebauer, Edvardsson and Bjurko, 2010). In order to implement project
effectively it is necessary for company to have efficient or required funding.
Time- In completing the project there will be more time consumed. So it is necessary for
manager to include all those activities which are necessary in completing the project. If project
will be completed in time then from this cost will be reduced and firm can achieve the more
outputs.
Communication- IN order to accomplishing the organisation al goals, it is important that
in an organisation there should be better and transparent communication between all functions or
departments (Trimi and Berbegal-Mirabent, 2012). It will be helpful in executing the projects. If
communication will be clear then all employees can communicate with each other then in this
case project will be completed in given period of time.
P3 Work breakdown structure and Gantt chart
Major benefit of carry out research is that it it support enterprise in collect large sum of
information that support top management in undertake decision making process related with
expansion of business activities. In order to ensure implement all research activities in an
effective way it is very significant for investigator to first develop a action plan as this give route
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to researcher and at the same time ensure completion of all activities in given time. Main steps
include in a investigation are as follows:
 Identification of main reason behind the study.
 Literature review
 Clarify the issues
 Specify the major concept of project
 Select the sample size
 Develop a action plan
 Examine the information
All type of investigation consists all these steps, present research based on digital
transformation also consist the same. For collect information, firm has to first select a sample
size from whole population (Jones and Lubinski, 2012). To carry out research firm will select a
sample size of 20 and will use random sampling method as this decrease biasness from the
research. By consider all these steps and by execute all these in an effective way Rolex can
expand its activities in an effective way. Digitalisation is not an easy concept so that's why it is
very important for manager to formulate an effective action plan. Action plan prepare by
researcher and time set for every operation is given in following points:
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This plan will be follow by Rolex during carry out research as this will help in achieve
set goals and objectives. All this help in execute all activities in given time.
TASK 2
P4 Application of research methods for carry out research
To draw valid and meaningful conclusion, it is very significant for researcher to carry
out investigation in an effective way. For this it is important that right methods and approach
must be choose by investigator (Smith, 2011). By choose a effective approach, investigator can
transform the whole investigation in an logical study in which it become simple for investigator
to draw results and conclusions. Collection of relevant data is one of the most important part of
every research and for the same, it is very essential for investigator to select right method of
collect data. (Incelli, 2013). Basically there are two methods of gather information known as
primary and secondary methods. Rolex will use both these tools as this will help enterprise in
collect more amount of information and will support management and guide during expansion
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activities. Basically research methods are divided into three headings which include the
following:
 Qualitative
 Quantitative
 Analytical
Most popular and effective methods of research are qualitative and quantitative which a
researcher use to draw valid conclusion. Further, it is very essential adequate sum of data should
be gather by investigator with effective use of secondary and primary methods of data collection. Primary data: This methods of data collection is very effective as this help researchers in
gather new and up to date information that help in draw meaningful conclusions and at
the same time help in take right decision (Kankaanranta and Planken, 2010). In this
methods, researcher take help of survey, interviews. questionnaire and various other in
order to get more about the views of respondents. Questionnaire is formulate by firm to
gather new data which contain 10 questions.
Questionnaire
Name:
Gender:
Age:
Contact no.:
Email id:
Q1) Does digitalisation provide any benefits or advantages to firm?
 Yes
 No
Q2) Does digitalisation is effective for Rolex in long run?
 Yes
 No
Q3) Does digitalisation impact the commercial activities in optimistic way?
 Yes
 No
Q4) According to current business situation, is it is essential for Rolex to go for digitalisation?
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 Yes
 No
Q5) Does implementation of digital technology is important for Rolex to transform business
activities?
 Yes
 No
Q6) Does Rolex has adequate sum of funds and time to implement digitalisation in an better
way?
 Yes
 No
Q7) In which way digitalisation will impact the activities of firm?
 Positive way
 Negative way
 Can't say
Q8) Is is essential for Rolex to bind all essential activities of business in order to decrease red
tapism?
 Yes
 No
Q9) Which mode marketing approach must be exercise by Rolex in order to carry out its
promotional operations?
 Traditional approach of marketing
 Modern approach of marketing
Q10) Any recommendation for Rolex related with digitalisation.
Secondary data: Various sources are there that can be use by managers of Rolex to
gather information. Secondary data is the one which is already collected by someone for other
purpose. Major attribute of this type of data is that it support manager in know about the topic of
research and at the same time provide basis for conduct primary research. In this, researcher take
help of magazines, books, articles and many more.
Case study one: One of the main focus of Rolex is introduce innovative and unique products in
order to influence million consumers. For achieve the same, firm is doing attempt on continuous
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basis. Mission of organisation is to capture a sizable share of market and to generate huge
amount of income.
Case study two: One of the main characteristics about Rolex watches is that it are very
expensive. Only wealthy people can purchase this. In this, firm want to produce watches for the
people for middle class. This will not only increase number of its customers but also enhance
amount of its profits. For make the individuals aware about this, enterprise can take help of
various social platforms in order to attract them.
By add some new and unique features in its goods firm can influence more and more
consumers and in addition to this can capture a larger market share.
TASK 3
P5 Use of adequate tools for research
Collection of relevant data related with the research topic is not enough for draw valid
conclusion but present that information in right way is also very significant in order to draw
valid conclusion and to take right decision (Lin and Chen, 2012). Like in the case of Rolex,
enterprise has to interpret the gathered information in order to make right decision in context
with the enlargement of business activities.
Theme 1: Benefits of digitalisation to enterprise
Q1) Does digitalisation provide any kind of
benefits or advantages to company?
Frequency
 Yes 16
 No 4
8

Interpretation: Above given image is indicating that 16 out of 20 respondents said that
digitalisation provide number of advantages to firm. They said that different technologies make it
easy for enterprise to share and transfer huge amount of data easily. Further, this provide chance
to store huge amount of information and access of that is also easy which provide direction and
support to managers during decision making process. Opposite of this, 4 respondents give their
opinions in the favour that digitalisation does not provide any kind of advantage to firm and they
think it is just a waste of time and money.
Theme 2: Effectiveness of digitalisation for long period of time
Q2) Does digitalisation is effective for Rolex
for long period of time?
Frequency
 Yes 18
 No 2
9
Yes No
0
2
4
6
8
10
12
14
16
Column B

Interpretation: From the above picture, it can be summarised that 18 out of 20 individuals
concluded that digitalisation is effective and offer long term advantages to enterprise. As per the
point of view these respondents different technology support entity in maintain quality of goods
that support in capture a larger market share. Contrary of this 2 respondents give views in
opposite of this statement. As per them digitalisation does not offer any kind of long term
advantage to entity.
Theme 3: Affect of digitalisation in positive way
Q3) Does digitalisation affect the business
activities in positive way?
Frequency
 Yes 15
 No 5
10
Yes No
0
2
4
6
8
10
12
14
16
18
Column B