Impact of Digital Technology on Small Business Growth: Sinn Example

This report investigates the impact of digital technology on the growth and innovation of small businesses, using Sinn, a wristwatch manufacturer, as a case study. The introduction highlights the benefits of digital technology for business operations, emphasizing its role in achieving goals and enhancing product quality. Task 1 focuses on aims, objectives, and the background of the project, exploring the application of digital techniques to drive innovation and growth, including the use of cloud applications and social media. Task 2 details the project management plan, considering costs, timeframes, scope, and risk management, and includes a Gantt chart to illustrate project timelines. Task 3 delves into the application of both qualitative and quantitative research methods, including the design of a questionnaire to gather primary data. The report concludes with an analysis of the research findings and recommendations for further business development. The report provides insights into how digital tools can improve business practices, increase customer engagement, and facilitate informed decision-making. This project is designed to help businesses understand the impact of digital transformation and make strategic choices to enhance their competitive advantage.

Managing Successful Business
Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives..........................................................................................................1
P2 Project management plan..................................................................................................3
P3 Gantt chary and breakdown structure to provide time frames..........................................4
TASK 2............................................................................................................................................5
P4 Application of qualitative and quantitative research methods..........................................5
TASK 3............................................................................................................................................8
P5 Analysing data and research..............................................................................................8
P6 Recommendations...........................................................................................................14
TASK 4..........................................................................................................................................15
P7 Value of undertake research to meet stated objectives...................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

INTRODUCTION
Digital technology is a helpful measure for a business through which an organisation
become able to accomplish all goals and targets in an effective manner (Ahmed Dine Rabeh,
Jimenez-Jimenez and Martínez-Costa, 2013). By implementing all new software and technology
into business operations, management become able to produce high quality products and services
which facilitate an option to make each and every user satisfy in nature as well. Thus, digital
technology support in rapid growth and bring many new innovation in a association activities.
This project aims at impact of digital technology on small business growth and innovation by
taking an example of Sinn whom are manufacturers of wrist watches. This project stated about
aims and objectives with background of an investigation which enables in better understanding
about study. Along with this, by using Gantt chart it leads to distribute whole time frame
properly and project management plan will lead to describe the cost, time, scope and other
essentials of project. Data analysis will lead to facilitate results and outcomes of an investigation
properly. On the basis of such consents, appropriate recommendations derive which support in
improving many further areas of business which get expand through digital technology.
TASK 1
P1 Aims and objectives
As per modern era, it is fundamental for each and every kind of company to utilize digital
techniques into business as this assist them to manage entire operational activities in an effective
manner (Chesbrough, 2010). Digital methods are growing in both type of market i.e. traditional
as well as modern. It is not easy to adopt new tools and methods if organisation is using
conventional ways. By utilizing digital technologies, manager of firm will take an adequate
decision regarding business. This will aid an association in their success and advancement. Sinn
is a manufacturer of mechanical wristwatches but their manufacturing is not much high;
therefore, it is not easy for them to enlarge their business. So that, they will utilize digital
methodologies into their firm. In this context, enterprise will implement Cloud application; thus,
they will easily store their entire data and files and along with this, transfer needed information
to others in a adequate manner.
It will assist employer to develop conversation with maximum number of clients through
utilizing many sort of media. As a result, profits and production of enterprise will get enhanced.
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If company want to expand their business then, they require fund. If goodwill of Sinn is much
proficient then, this will be easy for them to gather finance from many sources. As per modern
time, there are lots of organisations who are using digital tools such as Twitter, LinkedIn,
Facebook, Instagram and so on, because these will aid manager to reach people in a proper
manner.
Topic: Influence of Digital techniques in supporting small business growth and innovation
Background of Project: Technologies are catering various kinds of advantages to small firms.
This will assist company to make their business operations more efficient as well as productive.
Along with this, with assistance of unique methods unwanted cost get eliminated (Crane and
Matten, 2016). According to survey, it has been examined that small organisations are utilizing
digital methods more rapidly. New tools will aid enterprises to get connected with individuals.
Hence, it has been understood that influence of digital techniques is much effective in business.
It will aid manager to formulate financial statements and in addition informative reports within
limited period of time (Den Hertog, Van der Aa and De Jong, 2010). Apart from this, it is
necessary for an organisation to use new and effective promotional techniques into business;
thus, they will pull numerous people towards them. It is must for company to manage entire
things adequately; therefore, they will attain coveted targets and objectives within certain time
span.
Aim: To apply digital techniques in enterprise for ensuring innovation and growth: A case study
on Sinn.
Objectives:
 To determine execution of digital techniques in Sinn.
 To comprehending requirement of developing firm and using inventive tools.
 To use significance of digital tools which will bring innovation as well as grwoth in Sinn.
Research Questions:
 How can a manager implement digital techniques into firm?
 Why is it essential for an organisation to use inventive methods into activities of
business?
 How digital methods are effective to carry development of growth in Sinn?
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P2 Project management plan
It is responsibility of manager to prepare a project management plan for organisation as
this provide guidelines to staff members (Eckerson, 2010). It is considered as a formal document
which aid to control entire activities of firm. Therefore, overall work will accomplished
systematically as well as effectively. As a result, this will cater growth and success to project for
longer period of time. It is essential to determine quality, cost, time, scope which is associated
with project. As manager of Sinn is going to use new and inventive techniques into their
business; so that, it is necessary for them to manage plan of business in an adequate way. As
organisation is going to enlarge their business; thus, it is required for them to consider below
mentioned factors: Cost: It will be higher because firm is going to introduce their business online; therefore,
they will improve their customer base (Gebauer, Edvardsson and Bjurko, 2010). It will
not provide impact to their operations. Sinn is much famous association so that they have
sufficient fund to increase their business in online segment. Time: Manager has to set some time duration; thus, entire activities will accomplish
within time. If employees are following it then, they can easily acquire best outcomes.
But if they will not able to complete entire work timely then, they will lose their clients.
Hence, by completing all exercises adequately they will satisfy their buyers. As they are
going to introduce their business online so this will take some time. Scope: It is much broad because by using digital techniques firm will easily enter new
market and in addition acquire new opportunities at marketplace. As a result, they can
easily improve their revenues and market share. Along with this, they can take benefits
from their competitors at competitive world. Managing risk: As Sinn is going to set up new marketplace for their business; so that,
risk is high. It is fundamental for manager to examine hazards timely and eliminate it;
therefore, entire work will accomplished within limited period of time. Communication: Superior needs to develop an open conversation within organisation;
therefore, they will share thoughts as well as ideas with each other in an adequate
manner. This will aid to reduce clashes amongst them and help to build trust and loyalty
amongst people.
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 Quality: It is required for an enterprise to control over quality of their goods and services.
As they are going to expand their business online; thus, it is mandatory for them to
provide qualitative products to people. This will assist them to maintain their goodwill at
marketplace.
Henceforth, it is needed for an organisation to consider all above mentioned components while
developing a plan for business.
P3 Gantt chary and breakdown structure to provide time frames
Managers and researcher have to take an appropriate step in account in which they have
to conduct and organise various people perspective about an association properly so that better
and effective working could be promoted (Incelli, 2013). There are various goals and targets are
prepare or frame for an investigation which have to take in account by business managers. All
activities should have to be in a well manner so that better and effective working would be
promoted. Along with this, it is also important to divide the work properly by applying suitable
and relevant methodology. For this project, Gantt Chart is evaluated as best and suitable method
through which study will lead to accomplish its essential properly.
 Gantt chart: This approach divide whole work into equal time scale so that better and
effective working could be promoted (Jones and Lubinski, 2012). Gantt chart divided and
stated about a project activities which are involved at the time of a study so that better
and appropriate working could be motivated. Researcher have to prepare a Gantt chart
properly and divide all task into an appropriate frame so that essentials of project get
determined. Gantt chart is developed by keeping all activities or tasks in mind. Sinn is
prepared an action plan; it include the mentioned time and date on which a project will be
completed. It is assistive for a firm to gain long term benefits and growth.
The Gantt chart for Sinn are presented as follow through which every task get operated in an
appropriate and effective manner. The number of activities which have to take in considerations
are as follow:
 Define the problem
 Literature review
 Clarify the issue or problem
 Identify the goals and objectives of the company
 Identify the population
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 Collecting data
 Monitoring data
TASK 2
P4 Application of qualitative and quantitative research methods
It is essential for company to utilize some adequate methods; so that, they will conduct
research effectively and efficiently (Kankaanranta and Planken, 2010). Selected technique need
to be proper and related with circumstances. With assistance of various approaches, enterprises
will transform investigation procedure into logical one; as a result, they will acquire best
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judgements for firm. There are two types of methodologies which will be utilized by
associations, such as:
 Primary data
 Secondary data
Above mentioned techniques are much helpful to gather data and information which will aid
organisation to identify appropriate conclusion (Lai and Ong, 2010). Along with this, it will
assist them to survive long term at marketplace. Therefore, both tools are using by Sinn to gather
data with assistance of digital techniques. There are some kinds of research methods are stated as
beneath:
 Quantitative
 Qualitative
 Analytical
in company, fundamentally quantitative as well as qualitative tools are using by manager to
conduct research as these both are much helpful to identify proper outcomes. Along with this, it
is not risky and in addition advantageous.
Primary data: As indicated by this, employer will collect data and information with help
of many attributes, such as interviews, questionnaire and so on. It is much appropriate as entire
data is recent; therefore, it is more accurate and correct. It is very helpful because superior knows
that from whom they are gathered information. In this context, Sinn is formulating a
questionnaire so that they will gather reviews from 20 people which are opted by organisation.
Questionnaire
Name:
E- mail:
Age:
Gender:
Phone no.:
Q1. Is digital techniques are providing motivation to small firms?
a) Yes
b) No
Q2. Will digital methodology cater long term advantages to Sinn?
a) Yes
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b) No
Q3. Is Sinn utilizing new methods due to wide improvement in techniques?
a) Yes
b) No
Q4. What kind of influence will digitalization leave on Sinn?
a) Neutral
b) Positive
c) Negative
Q5. As per you, there is requirement of success and advancement in company?
a) Yes
b) No
Q6. According to you, Sinn is using best method to keep their essential data and
information?
a) Yes
b) No
Q7. As per you, how much growth will be expected by organisation after enter into the
digital marketplace?
a) Longer duration
b) Shorter duration
Q8. Is Sinn is earning high amount after utilization of digital tools and methods?
a) Yes
b) No
Q9. According to recent era, which sort of marketing method is adequate?
a) Modern
b) Traditional
Q10. Any suggestions or recommendations?
Secondary data: If organisation is using is this sort of method then they will gather data
and information with assistance of many tools such as books, newspapers, journals, articles,
internet and many more. Data is not reliable because it is not based on recent research. But, if
firm is gathering information by using it then they will save their time as well as fund.
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 Case Study 1: If Sinn wants to modify their goods and services then, it is fundamental for
them to utilize new and unique techniques into their business. As they are going to launch
their new collection then, they will use digital technologies into this. As a result, quality
of goods will get enhanced and in addition, firm will improve their goodwill at
marketplace.
 Case Study 2: Sinn is considered as luxury brand so that their clients are also belong to
high class. Basically, individuals wear their watches; thus, they will maintain their status
amongst people. Therefore, it is necessary for enterprise to develop some wrist watches
for those persons who comes from middle class. This will aid them to pull new clients
and improve their revenues.
TASK 3
P5 Analysing data and research
It is must for an organisation to examine gathered data and information because this will
help them to conclude an adequate outcome which will assist in decision making process.
Theme 1: Digital techniques are providing motivation to small organisations.
Q1. Is digital techniques are providing
motivation to small firms?
Yes 18
No 2
18
2
Yes
No
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Interpretation: It is fundamental for every organisation to use digital methods into their business
as this will work as a motivation for them. Therefore, form above presented graph it has been
comprehended that 18 respondents are agree with this but remaining are not favouring this
statement.
Theme 2: Digital technologies are giving long term benefits to Sinn.
Q2. Will digital methodology cater long
term advantages to Sinn?
Yes 17
No 3
17
3
Yes
No
Interpretation: If company is utilizing digital methods into their business then this will provide
long term advantages to them. From above data, it get concluded that 17 people think that this is
much helpful for enterprise as this will improve their revenues. But, 3 respondents are not
favouring this statement.
Theme 3: Using of techniques in firm
Q3. Is Sinn utilizing new methods due to
wide improvement in techniques?
Yes 15
No 5
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15
5
Yes
No
Interpretation: As per time passes, each and every kind of association is using new techniques
into their business. Therefore, it is required for Sinn to use digital methods into their firm. This
will assist them to take benefits from their competitors at competitive world. Along with this,
organisation will improve their market share and profits effectively. From above mentioned
graph, it has been understood that 15 respondents are favouring this statement but remaining are
not in favour.
Theme 4: Digitalisation provides positive impact to Sinn.
Q4. What kind of influence will
digitalization leave on Sinn?
Neutral 2
Positive 17
Negative 1
2
17
1
Neutral
Positive
Negative
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Interpretation: If company is using digital methods then, this will aid to cater positive influence
to them. From above presented graph, 1 respondents do not think the same. Rather than this, 2
people are neutral for this. Remaining are favouring this statement because this will help firm to
compete their rivals at competitive world.
Theme 4: Requirement of development and success.
Q5. As per you, there is requirement of
success and advancement in company?
Yes 16
No 4
16
4
Yes
No
Interpretation: Each business wants growth as well as advancement because it will help them to
survive for long term at marketplace. Therefore, from above presented graph it has been
comprehended that 16 respondents think that there is need for success of company because this
will assist them to maintain their customer base. But, remaining people are not favouring above
statement.
Theme 6: Sinn is utilizing adequate method to store their data.
Q6. According to you, Sinn is using best
method to keep their essential data and
information?
Yes 18
No 2
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18
2
Yes
No
Interpretation: It is required for each and every kind of organisation to store their data and
information properly. For above purpose, Sinn is utilizing cloud computing method which is
much beneficial to secure entire data in an effective manner. From above graph, this has been
understood that 18 respondents think that they are able to protect their information adequately
with assistance of cloud computing, but remaining persons are not favour this statement.
Theme 7: After entering into digital market growth of company is much high for long time
period.
Q7. As per you, how much growth will be
expected by organisation after enter into the
digital marketplace?
Longer duration 19
Shorter duration 1
19
1
Longer duration
Shorter duration
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Interpretation: By using digital techniques organisation will acquire long term growth and
success because they are using inventive methods for production of goods and services.
Therefore, from above graph it has been concluded that 19 respondents are in favour of this
statement but remaining are not.
Theme 8: Profits of firm is high after using digital tools and methods.
Q8. Is Sinn is earning high amount after
utilization of digital tools and methods?
Yes 17
No 3
17
3
Yes
No
Interpretation: New methods and techniques are continuously implementing by manager into
business which will aid them to increase their profits in an adequate way. As indicated by above
data, 17 individuals think that with help of digital tools Sinn will easily enhance their revenues
but remaining think adverse.
Theme 9: Company is using modern marketing methods into their business.
Q9. According to recent era, which sort of
marketing method is adequate?
Modern 15
Traditional 5
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15
5
Modern
Traditional
Interpretation: To compete with competitors at marketplace, it is required for firm to use
modern marketing tools into business. This will aid them to attract numerous people towards
them as a result, profits of company will get enhanced. From above data it has been
comprehended that according to 15 respondents enterprise needs to use modern techniques into
their business. But remaining are not in favour of above statement.
P6 Recommendations
Sinn is a manufacturer of wristwatch and much popular at marketplace; therefore, they do
not need to modify their business plan. Manager formulated an effective strategy which help
them to acquire success as well as growth at market. But as per recent era, they are going to
taken entry into online segment; thus, they will enlarge their business at domestic and in addition
international level. For above stated purpose, it is required for them to improve their operational
activities; so that, they will easily enhance their production. Functions of Sinn is much adequate
so there is no requirement for administrative department to modify it. But, there are some
recommendations or suggestion are given to company; thus, they will get success at market in a
proper manner. It is stated as below:
 It is required for them to check each and every staff members that they are having proper
knowledge about digital techniques or not. If they do not have then, manager needs to
provide training to their employees as this will assist in their improvement.
 Superior has to check that entire operational activities are accomplished within limited
period of time; therefore, they will fulfil requirements of clients as per their needs.
 It is must for employer to use cloud technique in firm so that they will share and protect
entire data and information adequately. With assistance of this, data will be transfer to
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people proficiently. As a result, workload will get decreased because there is no need for
individual to share files with colleagues by their own as they will download files by self.
 Sinn is going to introduce their business online; thus, primarily is required for them to
keep value of their goods low as comparison to other watch organisations. As a result,
they will easily capture attention of numerous people.
Henceforth, entire suggestions as well as recommendations need to taken into under
consideration on a serious note. Along with this, firm needs to apply all of these into business as
soon as possible. This will aid them to set their business online in a proficient way and provide
growth and success to enterprise. Thus, with assistance of digitalisation company will improve
their goodwill and in addition take benefits from their rivals at competitive world.
TASK 4
P7 Value of undertake research to meet stated objectives
As company is doing project; thus, there are various kind of problems will face by them.
It was not easy for me to conduct research easily. At that time numerous troubles were faced by
me which are favourable or unfavourable. It is must for employees to accomplish entire task as
per guidelines which are provided by me. Along with this, employer needs to sort out entire
issues within time; therefore, work will complete without any delay. When I was gathering data
and information with assistance of sample population many difficulties was faced by me. Like,
they were not giving adequate answers. Apart from this, cost was high as comparison to my
estimation which affected budget plan. There was communication problem; thus, respondents
were not able to give answers quickly.
CONCLUSION
It get concluded from the project that, for managing a successful business project, it is
essential to follow appropriate management plan which describe and based on aims and
objectives of research. This enables in taking and concluding beneficial results for a project so
that better and effectively new activity get execute. By preparing suitable aims and objectives,
business project lead to follow directions and approaches in an appropriate and effective manner.
Moreover, project management plan and time scale will lead to describe all operations and
activities properly and in an effective manner. Further, data get collected through a questionnaire
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in which various questions get organise on a selected population. Data collection describe and
evaluate all outcomes properly which further describe through various themes and graphs.
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Online
Impact of digital technologies in Small business.2014. [Online]. Available
through:<http://www.smallbiztechnology.com/archive/2016/02/new-survey-finds-
digital-technology-usage-linked-to-small-business-growth.html/#.Wf_3cfF97qM>.
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