Digital Transformation Project: Analyzing Rolex Business Operations

This project delves into the digital transformation strategies of Rolex, a prominent Swiss watch company. It begins with a project definition, outlining problem statements related to market competition and the need for digital adaptation, particularly in online sales and customer engagement. The project proposes a strategy that includes mechanization of marketing, project management, customer relationship management (CRM), and cloud computing to enhance business operations. It defines clear objectives, such as determining the impact of digital technology on commercial activities and assessing the efficiency of digitization. The project scope encompasses a management plan, risk evaluation, and the expansion of online business operations. Quality management and risk assessment are also addressed, followed by a discussion of deliverables and the implementation plan. The project includes a small-scale research component, data analysis, recommendations, and a reflection, all aimed at providing a comprehensive understanding of digital transformation within the context of a luxury brand. The project highlights the benefits of digital technology for improving efficiency, customer engagement, and overall business performance.

Managing successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
Part 1................................................................................................................................................1
Project Definition ..................................................................................................................1
Problem Statement..................................................................................................................2
Project Strategy .....................................................................................................................2
Project Objective....................................................................................................................3
Performance, cost and time objectives...................................................................................3
Deliverables............................................................................................................................4
Project Scope Statement.........................................................................................................4
Quality management...............................................................................................................5
Risk.........................................................................................................................................5
Success Criteria .....................................................................................................................5
Project Assumptions...............................................................................................................5
Implementation plan...............................................................................................................5
Work Breakdown structure.....................................................................................................5
Gantt chart..............................................................................................................................6
M1...........................................................................................................................................6
Project Processes....................................................................................................................6
Communication Plan..............................................................................................................6
Part 2................................................................................................................................................8
Small scale research:..............................................................................................................8
Primary Data ..........................................................................................................................8
Secondary Data.......................................................................................................................9
M2.........................................................................................................................................11
Part 3..............................................................................................................................................11
Data analysis........................................................................................................................11
P6Appropriate Recommendations and conclusion..............................................................15
P7 Reflection........................................................................................................................15
M3 ........................................................................................................................................16

M4.........................................................................................................................................16
REFERENCES..............................................................................................................................17
Appendix: 1....................................................................................................................................18

INTRODUCTION
In order to manage the organization, there is a strong need to have advancement in the
digital technology. Advancement in the technology is only done by way of creativity. Henceforth,
the business organization is able to the gain the core competencies. Nowadays, this has been seen
that each company is using digital tools which ultimately helps the firm to transform the business
activities in an efficient manner. By way of digital technology, company can store their he data
in a more protective manner and also distribute essential information to their users within a short
time (Zhao, 2012). This project is mostly relied upon the digitization by considering references
of Rolex watch company. Rolex is the Swiss based company which have strong brand image in
the watch industry around the globe. The marketing manager of the company is using various
internet marketing tools for letting the people aware about their new products and inventions in
the watch. In this project, diverse points are needed to the done by making aims and objectives
which are connected to the project. However, for making effective aims and objectives, research
is strongly recommended for accumulating the data. By using the collected data. These are
converted into the useful information and appropriate decisions are made by the top level
managers of the company for making strategies.
Part 1
Project Definition
Project is that which includes all the guidelines such as coordination and controlling
process. It also includes starting and finishing date as well time, along with main purpose of of
framing project for achieving goals and objectives of organisation.
Main purpose of this project is, Digital transformation is approachable and feasible for all
businesses as it simply way of improving employees’ performance which are engaged in the
business processes of manufacturing and achieving new, profitable business framework (Yuan,
Bao and Verbeke, 2011). Digital technology into business will depend upon a clear and
convergent strategy, effective leadership by the leader and a change the mind-sets of people who
are working in the company regarding changing digital technology and adopt the new technology
which is beneficial for the company to survive in a competitive market.
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Problem Statement
Rolex has its competitors like Omega, MAURICE LACROIX and many more. They are
bringing new technology in market area which is attracting large number of customers. Thus,
Rolex have to implement such technology in producing their products. So they can get upper
position compare to their products. Online shopping is important which can be possible with the
help of digital technology. Apart from this it will assist in increasing sales and generating
revenue.
As per “……”, this can be rightly said that the management of the cited organization
would requires to make certain strategy which would ultimately sustain the strategy in order to
have sustainability in an effective manner. however, this can be rightly said that the management
of the cited organization would efficiently implement digital technology which would ultimately
assist to gain the sustainability in an effective manner. however, this can be rightly said that the
digital transformation is really needs in order to effectively promote the business operations
efficiently. However, this could be rightly said that the management of the cited organization
would ultimately enhance the productivity by using digital transformation technique. According
to “…”, management of the cited organization would ultimately implement digital technologies
such as promoting goods efficiently which would ultimately assist to gain the sustainability in an
efficient manner. Digital technology would enhance and improve to engage with consumers and
crucial for the organization survival and growth. An efficient and sound consumer experience
simply referred as the stronger consumer loyalty, high sales, and more advanced consumers via
referrals. According to “….”, under digital transformation, company would incorporate advanced
business models and culture along with the digital technologies. This kind of transformation is
crucial for whole organization. This promote use of an advanced and innovative business models
and enhance experience employees, consumers’ partners and stakeholders via use of tools. This
introduce together staff, consumers, partners and stakeholders via use of digital technology. This
introduces together people data and procedures to form value for the consumers and handle a
competitive advantage. Digital transformation could enhance profitability, consumer satisfaction
and enhance speed to market for any organization. Although, there are various entrepreneurs who
threatens to adopt the digital technology as they are totally concerned about the business process
costs and totally concentrates on short term revenues. But they do not know about the benefits of
the digital transformation of the business.
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Project Strategy
Nowadays, this is important to make out an aim and communicate activities according to
the needs. Aims and objectives is the highly creative tools in this modern market and that is why
traditional market segment is reducing. this makes a positive impact over the business. There are
four easy steps to adopt digital technology in business:
 Mechanization of market: - Market mechanization technologies can help the company to
do business efficiently without wasting the time and also helps to evaluate its marketing
activities and workflows. Marketing mechanization software renders a centralized
database for all marketing activities data; provide space for managing, making and
automating marketing processes of company. It provides a direction to test the steps and
optimization of marketing and its impact on revenue. By shaping a clear-cut process
supported by digital technology, business could handle and improve segmentation,
customer- retention and company’s return on investment.
 Project Management: - A project management provides a simplest mode for a team to do
work cooperatively, exchange and store important files and useful folders and keep a
vivid overview of all the general advancement of a project of a company. By using digital
technology, a centralized space for a preparing and working on a task, a company can
enhance team productivity and ratio, assure project deadline are cover and decreases time
spent on looking for misplaced documents or also reduces progress meetings of a project.
 Customer relationship management: -CRM is deal with existing and potential customers
of an organization’s and manage them. The Customer relationship management system
draws the most important company’s business data which capable the company to
enhance their customer relationships with an intention to retain them (Too and Weaver,
2014). Applying the CRM software, the company could raise, attract and hold customers,
handle sales leads and organize communication activities in order to increases the
business growth of a company.
 The clouds:-Instead of depending upon the old local servers or computers to manage the
data of the company, the cloud permits users to store and access the data and useful files.
By using the cloud, it provides many useful benefits to the business including maximum
dynamically, infinite capacity, decrease costs and also provides regular back-ups on daily
basis. Using the cloud, it could minimize IT managing and supporting costs, enhance
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employees’ efficiency by sanctioning staff of the company to access the files which they
need and in real-time and saves the costs.
Henceforth, this is clear that the digitization provides advantages to the company for
making service in an efficient manner. Although, this is true that this affects the business in a
positive manner.
Project Objective
Aim: “To implement digital technology for advancement of business operations”.
Objectives:
 To determine the impact of digital technology on commercial activities of company.
 To understand the needs of the business transformation activities.
 To analyse effectiveness of use digital technology on profits of organisations.
 To assess the efficiency of digitization company’s operations.
Research questions:
 What is the impact of digital technology on commercial activities of company?
 What is the needs of the business transformation?
 What is the effectiveness of use digital technology on profits of organisations?
 What is the efficiency of digitization company’s operations?
 Performance, cost and time objectives
Performance objectives of this report is to estimate digital technology advancement of
business operation. Each organization is striving hard to make better their operational process by
introducing technologies in the organization (Scherer and Palazzo, 2011). For this, a routine
digital technology transformed business operations in a most effective manner. In addition to
this, this can be said that digitization helps the firm to cope up with the consumer demands in an
effective manner. Digitization process in the company makes the operations faster than ever
before. For example, this can be said that the company’s account department does not needs to
transfer their data through e-mails. Because, there is a risk of hacking the data while mailing to
the other department. But, by way of cloud computing technology, company can have the
protected where it wants and data is in protective manner and no one can harm it (Polonsky and
Waller, 2014). As, by way digitization, this can be said that, manufacturing is improved by
atomization in the process. In this cited case, this Rolex company produces watches as per the
consumer demands of each customer from various continents. Social media is a perfect tool
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which connects the planet. Henceforth, at the time of forming a new project, company could fix
various aims and objectives according to the requirement of the project for guiding company to
work on such blueprint organization.
With the help of online selling, the company can cut the cost as, huge cost would save for
setting the outlets throughout the world (Eweje, Turner and Müller, 2012). Company can employ
the money for managing the activities. This is considered to be the key crucial factor which can
ultimately affects the business project. The company needs to make a period through which the
project can complete. This is most eligible process for forming the project in a most effective
manner. They are required to provides the sufficient time for performing the operations in an
effective manner.
Deliverables
The deliverables are explicit with the purpose discovered in a tangible or intangible both
the form, in the current case it is stated by the results of the study revealed, more detailed by the
manner in which the digital technological improvements has advancement in business operation
of Rolex in several division.
Project Scope Statement
A management plan is essential for the completing the project in an efficient manner.
Although, this can be said that the company needs to evaluate the risk for making the
management plan in an effective manner. Rolex wants to expand their business operations via
online in order to earn more and more profits. For knowing the main intent, there is a strong need
to know about the various business risks and project related information. This is the scope of the
project which is more as the modern people would love to buy product via online. This project
has various opportunities which enables the business to enhance the business earnings (Keller,
Parameswaran and Jacob, 2011). Online method assists the company to expand the business all
around the globe. Expanding of business all around the globe without having set up is not
possible as this requires heavy capital investment.
Quality management
One of the strong factor is to have the better factor as the quality is the foremost
requirement which are needed to be done in order to gain the sustainable development. This is
considered to be the main factor which affect the project performance.
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Risk
This is the method of managing the risk in an effective manner. Rolex company is already
having a strong image. But the management team is required to identify and address risk
associated with the online business. Management team is required to do that they need to have an
appropriate decision making technique which can eliminate risk effectively.
Success Criteria
Success criteria of the project is to demonstrate the digital technology advancement on
business operation on Rolex.
Project Assumptions
major assumption of this is that digital technology have its positive impact on marketing,
profit, sales, customers services, brand name and so on.
Implementation plan
This plan is implemented for the better outcomes for the particular project. For achieving
goals and objectives of company.
There are a number of activities which are performed in order to complete the whole
research. For same it is required that different task is organised in a series according to their
priority so that no work is missed out. For same Gantt chart has been prepared below which will
show in what order the work is done (Too and Weaver, 2014).
Work Breakdown structure
This is the structure which help company in dividing their work in small parts. So their
will be no burden on individual person as well enterprise can achieve their goals and objectives
in better manner.
Gantt chart
This is a more efficient tools in research project for copying entire whole tasks and
activities. This chart covers various lists of diverse kinds of activities and their time period.
Activities/ weeks 1 2 3 4 5 6
Generating a potential
evaluation of the main for
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Style Zones
Goal and objectives
development for the company
Development of strategy for
the project
Enables for interviews along
with conducting meeting
approval along with high level
authority for it.
Research
M1
A project management plan is produced by using digitization in the cited business
research. Which could ultimately help out the business in order to gain the sustainability in an
effective manner. By taking help of project management plan by the Rolex company, It could
gain the productivity and profitability in an effective manner. The project management plan of
the Rolex company would reflect the time for completing the entire project so that they could
frame strategy strongly.
Project Processes
Process of project is that the major steps which is taken by manager and employees for
achieving goals and objectives of enterprise. Steps involve in project planning are initiation,
planning, implementation, monitoring and closure.
Communication Plan
What Target Purpose Frequency Method
Initiation
Conference
All
stakeholders
Sharing info
about the
related to plan
and the
induction of the
project.
20th July
2018, a
some days
before the
official start
date of the
Meeting
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project.
Project
Start
All
stakeholders
Share the plan
and the project
scope with all
the
stakeholders.
15th October
2018
Meeting
Status
Reports
All
stakeholders
Update upon
the progress of
the project.
Once a
month, but
scheduled
extra
meetings if
necessary.
30 October
2018 and 25
November
2018
Meeting
Team
Conference
Entire project
team
To assign
specific task
and discuss
the updates.
Every two
weeks from
the start
date.
Meeting
Investors
Meeting
Investors and
project
manager
Talking about
the budget and
the resources
and expenses.
First week
after the
start date.
Meeting
Rolex
Managers
Meeting
Project
manager and
Rolex
manager
Getting the
permission to
send the
surveys to the
employees of
Rolex.
Week 4. Meeting
Project
Review
Project
manager and
Investors
Update the
investors on
the progress of
the work and
discuss any
issues.
Every week. Electronic
report (email)
Employee
Meeting
New
employee
and Manager
Hire the
person
responsible to
apply the
surveys on the
customers of
Rolex in a local
Rolex.
Week 4. Meeting
Project
Audit
All
stakeholders
Review
reports, risks,
Every two
weeks but it
Electronic
report (email)
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