Digital Technology's Impact on SME Growth and Innovation Report

This report examines the impact of digital technology on the growth and innovation of Small and Medium Enterprises (SMEs), using Continental Consulting Limited as a case study. The report begins with an introduction outlining the importance of digital technology in business and the objectives of the research. It then provides a project management plan, including a work breakdown structure, Gantt chart, and resource budget. The research methods employed, including interpretivism, an exploratory research design, and an inductive approach, are detailed. Data collection methods, such as questionnaires, are discussed, along with data analysis techniques. The report also explores the positive and negative impacts of digital marketing, the difficulties in implementing digital technologies, and recommends ways digital technology can support SME growth and innovation. The report concludes with recommendations, reflection, and references.

UNIT 6: MSB

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Background and objectives......................................................................................................1
2. Project management plan.........................................................................................................3
3. Work Breakdown structure and Gantt chart............................................................................6
4. Research methods....................................................................................................................8
5. Analysing data.......................................................................................................................12
6. Recommendation and conclusion..........................................................................................17
7. Reflection...............................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERNCES.................................................................................................................................20
APPENDIX....................................................................................................................................22

INTRODUCTION
Growth and innovation within the business especially that of IT companies is very much
important as it impacts its profits and transforming activities of organisation as well. There are
many types of technological innovation which are paving its path throughout each and every
sector of business (Foroudi, Nazarian and Duda, 2017). The various departments of organisation
must also be using variety of technological advancements like in production section artificial
intelligence (AI) and big data analytic is used which is having growth in products. So this
particular research is all about impact of digital technology in supporting the SME business their
growth and innovation based on Continental Consulting Limited UK.
It is the UK based SME which is working in field of business consultancy and research
process re-engineering since 8 years in London and Greater London as well. Continental
Consulting Limited is using various types of equipment, IT technology and computer facilities as
well to grow their operations. But certainly its technologies and innovation is getting obsolete
and depreciated due to which management want that there must be up gradation of capabilities of
company.
MAIN BODY
1. Background and objectives
Background of report:
This report will comprise of dealing with impact both negative and positive of
implementation of digital technology (Digital innovation helping in financing for SME, 2018).
Digital technology is having many merits and demerits in its application and execution as well
like there are continuous changes within technology so it becomes difficult for the company to
include all type of innovations. SME business does not have equipment and expertise for
handling and implementing digital technologies like that of cloud computing or artificial
intelligence as well. Continental Consulting Limited is working in market as providing
consultancy to their business clients who are mainly SME manufacturing companies which are
located in London. So there is need that company is using and executing latest technological
changes within their re-structuring that is bringing capabilities of company to its maximum.
Background of Continental Consulting Limited:
Continental Consulting Limited is working since 8 years in market which is headed by
Mario Bindas who is the CEO of company. As it is having expertise in this field of business who
1

are also having experience of this consultancy but company is not been able to incorporate the
said changes which is like the up gradation of technology or equipment that they are using. This
is due to increase in competition in market and rivals of Continental Consulting Limited are
using better IT facilities and latest technology.
Aims:
To identify the impact of digital technology on SME growth and innovation: A study on
Continental Consulting Limited
Objective:
 To identify positive and negative impact of digital marketing on Continental Consulting
Limited
 To examine the difficulties in regulating latest equipment and digitalisation into
Continental Consulting Limited
 To recommend the ways in which digital technology could be supporting SME in its
growth and innovation.
Research Question:
1. What is the positive and negative impact of digital marketing on Continental Consulting
Limited?
2. What are the difficulties in regulating latest equipment and digitalisation into Continental
Consulting Limited?
3. Define the ways in which digital technology could be supporting SME in its growth and
innovation?
Significant of project:
This project will be very much important for company as they will come to know what is
the need and importance of implementing latest technologies (Scuotto, Bresciani and Del
Giudice, 2017). So the purpose of this study is to identify impact of digital marketing or
technology within growth and innovation of SME of UK with both positive and negative factors.
The researcher who is researching on this topic will be able to differentiate between positive and
negative impact of digital technologies. The purpose of project is to find out and identify
difficulties in regulating the equipment and digitalisation in the company and defining ways that
are supporting SME with growth and innovation.
2

2. Project management plan
Project management plan (PMP) is the formal documentation which is used to manage
the execution and planning of project. There are many ways to include the action plan of
research like that of defining, preparing, integrating and coordinating various planning activities.
There are many components of PMP including scope statement, WBS, budget, time, quality,
communication, risk and resources for this chosen project (Quinton, Pera and Budhathoki, 2018).
It further defines and describes each and every phase of project starting from initiation, planning,
execution, monitoring and controlling of project.
Table 1: Project management plan
Task
Mode Task Name Duration Start Finish Predece
ssors
Auto
Scheduled Preparation phase of project 7 days Thu 9/13/18 Fri 9/21/18
Auto
Scheduled Choosing a theme or subject 2 days Thu 9/13/18 Fri 9/14/18
Auto
Scheduled
Defining project scope and
objectives 1 day Mon 9/17/18 Mon 9/17/18 2
Auto
Scheduled
Select subject or problematic in
carrying out installation 3 days Tue 9/18/18 Thu 9/20/18 2,3
Auto
Scheduled Identifying aims and objective 1 day Fri 9/21/18 Fri 9/21/18 3,4
Auto
Scheduled Project planning 10 days Mon 9/24/18 Fri 10/5/18 5,1
Auto
Scheduled Application step of development 4 days Mon 9/24/18 Thu 9/27/18 5
Auto
Scheduled Budgeting for project 3 days Fri 9/28/18 Tue 10/2/18 5,7
Auto
Scheduled Communication plan 3 days Wed 10/3/18 Fri 10/5/18 7,8
3

Auto
Scheduled Project execution 10 days Mon 10/8/18 Fri 10/19/18 8,6
Auto
Scheduled Dividing task 1 day Mon 10/8/18 Mon 10/8/18 9
Auto
Scheduled Literature review 4 days Tue 10/9/18 Fri 10/12/18 9,11
Auto
Scheduled Data collection 5 days Mon 10/15/18 Fri 10/19/18 12
Auto
Scheduled Project monitoring 3 days Mon 10/22/18 Wed 10/24/18 13
Auto
Scheduled Key performance indication 3 days Mon 10/22/18 Wed 10/24/18 13
Auto
Scheduled Project closure 4 days Thu 10/25/18 Tue 10/30/18 15
Auto
Scheduled Conclusion and recommendation 3 days Thu 10/25/18 Mon 10/29/18 14,15
Auto
Scheduled Submission of project 1 day Tue 10/30/18 Tue 10/30/18 15,17
Table 2: Ttime duration
Scope/ stage Expected timeframe
Project initiation 7 days
Project planning 10 days
Project execution 10 days
Project monitoring 3 days
Project closing 4 days
Total 34 days
4

Table 3: Resource and cost budget
Activities Budget (£) Expenditure (£)
Material purchase:
Raw materials, paper and printer 500
Labour & service cost:
6 Expert for planning and research 300
9 Expert for project execution 550
Literature review 300
Data collection 1000
Others 600
Total project budget 3250 3250
Table 4: Quality control plan
Quality issues Stage Impact Control
Improper plan purposes Planning High Appraisal by supervisor
Impractical price
distribution
Planning Medium Recording of all spending
Incorrect project strategy Planning High Deliberate with team members
before implementation
No training to workers Execution Medium Trial before execute
Frail documents gathering Execution High Review by expert/ supervisor
Inappropriate respondents Execution Low Ensure right person before data
collection
Incorrect data study process Project
monitoring
High Converse with manager before
preliminary
Inadequate reporting Project closure Low Distribution results and ideas
with supervisor
5

Table 5: Risk management plan
Risk Impact Mitigation
Impractical timeline Low Alteration with part clarification
Nonappearance of obligation High Emphasis on the Gantt chart
Frail cost regulator Medium Balancing cost among actions
Fewer provision from specialists Low Pursue provision from organization
Extraction of members Medium Complement extra respondents
Misappropriation of composed
data
High Monitor ethical issues of the plan
High Medium Low
Table 6: Communication plan
Stakeholder Description Frequency Format Week of the
timeline
Participants Original
communication
Initially Email 5th week
Project
executive
To show progress Every two weeks In person, email Entire period
Team fellows Help for data analysis Once in week In person, email Entire period
3. Work Breakdown structure and Gantt chart
Work Breakdown structure (WBS) is the deliverables which would be needed within
planning and execution of all task for the project that is divided into smaller parts and
components (Garcia-Morales, Martín-Rojas and Lardón-López, 2018). This structure is
foundation of effectively managing project into meaningful way with logical subdivision of
project.
6

Figure 1: Work Breakdown structure
Gantt chart
7
Work Breakdown
structure
Preparation phase
of project
Project
execution
Project
monitoring
Dividing
task
Project planning Project
closure
Project
scope and
objectives
Problematic in
carrying out
installation
Identifying
aims and
objective
Application
step of
development
Budgeting for
project
Data
collection
Key
performanc
e indication
Conclusion
and
recommendat
ion
Submission
of project

Figure 2: Gantt chart
4. Research methods
Research philosophy-
It is regarded to as phenomenon which is based on gathering and interpretation of data
and the usage of information as well (Positivism Research Philosophy, 2018). It is mainly
divided into 2 type interpretivism and positivism both of them is very much important in
applying the methods. Positivism refers to scientific quantitative methods and under this type
role of researcher is limited to collecting data and interpreting it as well. While interpretivism
refers to humanistic qualitative method as it integrates interest of humans into study. So in this
particular research which is dealing with finding out impact of digital technology on growth and
innovation of SME. As this will be having ideas and interest of humans within researching
impact of technology so for this interpretivism will be mostly preferred.
Research design-
This is arrangement of conditions or information collection and analysis of data in such a
manner that it aim at combining relevant data to fulfil purpose of topic. Research design is
8

concerned about type of data is, collection strategy and how results would be generated
(Research Design – Types of Research Design, 2018). In order to find out impact of digital
technology on growth and innovation of SME business exploratory research design will be used.
As under this design question like that of “what” and “how” are answered by exploring the aim
and objective of whole research. It will be concerning about qualitative research design as it will
be focused on exploring and understanding the meaning and impact of digital technology on
SME business.
Research approach-
The plan and procedure which helps to frame broader assumptions in method of data
collection, interpreting and finding out results as well will be termed to as research approach
(McGuirk, Lenihan and Hart, 2015). While basically there are 3 approach which are inductive,
deductive and abductive. In this research which is aiming at finding out impact of digital
technology on SME growth and innovation inductive approach will be used. As this type of
research approach is based on moving towards more specified observation to broader
generalisation terms so that topic addressed with relevant specifications.
Sampling-
This is extracting small size of sample from larger population with use of probabilistic
and non-probabilistic tools and techniques (Mazzarol, 2015). Under this 10 sample of employees
of Continental Consulting Limited are taken by way of simple random sample technique which is
basic tools.
Data collection-
Data collection is the most important factor or element for collection information related
to topic or aims to find out what is achieved and how aims will be fulfilled. Collecting
information, facts, figures, data and evidence for the specified goal of research which is the aim
and objective of study is important. There are basically two types of sources or methods of
collecting data which are coherent, relevant and essential for the investigation that is primary and
secondary.
Primary sources:
As this type of data is collected by researchers from first hand sources using methods like
that of questionnaire, survey, interview and experiments as well (McGuirk, Lenihan and Hart,
2015). So in this research which is concerned about gathering information for knowing impact of
9

digital technology on SME growth and innovation primary source of data is used. Under this
questionnaire will be prepared for analysing positive and negative impact of digitalisation of
technology and equipment by taking 10 employees of Continental Consulting Limited under this
research.
Secondary sources:
Under this type of research data is collected from the sources which are that of third party
or for some other purpose. It is already documented and recorded information that is discussing
information that was originally presented in any other form. Secondary type of research comprise
sources like, books, journals, articles and older studies.
Data analysis-
After collecting all suitable data and information based on topic it is required to interpret
it into meaningful and coherent terms so that it become easy to understand (Scott, Van Reenen
and Zachariadis, 2017). Data analysis is also important and required section of research which
includes how the results are made valid and recommendation is given according to it. There are 2
types of methods with help of which data can be analysed that is qualitative and quantitative.
Qualitative:
Qualitative type of research method will be analysing or exploring the collected data in
form of understanding reasons and opinion of humans who are involved into research.
Qualitative type of data analysis technique will have potential solutions to problem which helps
in building up of hypotheses and ideas. This is done with the help of thematic analysis particular
research tool this qualitative based as data which is collected will be analysed by using
qualitative type of method.
Quantitative:
On other hand quantitative data analysis will be based on use of mathematical tools and
techniques used to identify relationship between various factors or elements of research. This is
done with use of various statistical tools including SPSS and Microsoft Excel.
Research questionnaire
Name: ______________
Position: ______________
Gender: _______________
10