Digital Transformation Project: Analyzing Rolex's Business Operations

This project analyzes the digital transformation of Rolex, a renowned luxury watch brand, focusing on how digitalization impacts its business operations. The assignment begins by outlining the aims and objectives of the project, which include leveraging digital technology to enhance business activities and expand online marketing efforts. It then presents a detailed project management plan, encompassing scope, risk management, quality control, cost, and timelines, highlighting the importance of effective communication. The research methodology involves both primary and secondary data collection, utilizing questionnaires to gather insights from respondents. The project also includes a time line and action plan, demonstrating the steps involved in the research process. The analysis explores how digitalization enables efficient data storage, communication, and customer engagement, as well as the benefits of cloud technology and social media integration. The project culminates in recommendations for optimizing business operations through digitalization, emphasizing the need for strategic planning and risk management. The student's work offers a comprehensive view of how digital transformation can reshape business models and improve efficiency in the modern market.

MANAGING SUCESSFUL
BUSINESS

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives:..............................................................................................................1
P2. Project management plan......................................................................................................3
P3. Time line and action plan......................................................................................................1
TASK 2............................................................................................................................................3
P4 Carry out research by implementing by using adequate methodology..................................3
TASK 3............................................................................................................................................5
P5 Interpretation and evaluate the project outcome....................................................................5
P6. Recommendations on findings:...........................................................................................11
TASK 4..........................................................................................................................................12
P7. Reflection on the research...................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
For managing a business, up-gradation of technology is necessary. Up-gradation of
technology is done by using innovation so that the business can gain the sustainable
development. Each organisation uses digital technologies that can transform the business
activities so efficient and effective. With the help of implementing digital and innovative
technology, firm can store their data and communicate their information to potential users within
a short span of time. Such project is entirely based on the digitalization by adopting references of
Rolex which is the most renowned firm in the internet marketing by which work can controlled
by way of internet (Zimmerman and Yahya-Zadeh, 2011). Under this project, various points are
required to discuss by framing the aims and objectives that are linked with the project. After that
an adequate research is required to convene for gathering the data and produce appropriate
information for the project. By way of such information and assessment, adequate
recommendations are required to render for such areas which are required to enhanced. Entire
things are required to assess in a most effective manner for framing the project outcome
successful.
TASK 1
P1 Aims and objectives:
Nowadays, this is essential to frame the firm and communicate the activities as per the
requirement. This is the most innovative technique in modern market world where traditional
market segment is getting decline according to days. Its impacts on the business is positive in
nature as this management would get an adequate place. Under this, cloud technology helps in
transferring files from one network to the different network server. Additionally, render platform
where firm can communicate their firm with the huge client base via social networking sites.
Because, various opportunities for firm also get optimized via which their profitability get
improved. Henceforth, for this, appropriate amount of fund is needed that permits the firm to
frame their business expansion easy and most concise. According to this, they could attain to the
so many users. As, nowadays, most of the people uses social sites for promoting their products or
services (Introducing Research Methods. 2017). This has been various number of advantages
that could helps the firm for linking their work with each other in various regions. According to
this, cited company is mixing their work with network to entire divisions of office for
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determining the deviations that are going to take place in the near future. Henceforth, such
digitalisation renders benefits to firm for framing their services efficient. Henceforth, its
influence on the firm is positive in nature.
Topic: How digitalisation in the technology transformed operational activities?
Background of the project:
Each firm needs to vary their operations as per the time under which various
modernisation are taking place under present environment. For this, consistent digital technology
transformed business operations so fast. Additionally, this framed the operations of firm more
efficient under which the quality goods and services get produced as per the demand of
consumers. In addition to this, account department does not requires to transfer their data via
emails that enhance chances of hacking. But, by picking out, cloud technology, data of the
company can secure and interference of the outdoor people get decrease. Because, by
digitalization of the company , production get automatically improved as huge data can gathered
via various users (Giovannoni, Maraghini and Riccaboni, 2011). In addition to this, watches get
produced as per the demand of each customer that demonstrates in the various parts of the plant.
Social media and mobile revolution connects the world in once. Therefore, while making a new
project firm have to fix various aims and objectives as per the requirement of project for guiding
entire firm entity to work on such blueprint.
Aims:
“To use and apply digital technology for transforming its activities”.
Objectives:
 To determine the uses of digital technology in the firm.
 To know the requirement of business transformation activities.
 To evaluate the efficiency of the digitalisation on the firm operations.
Research questions:
 How digitalisation could implement in the firm?
 Why is it necessary to transform the operational activities?
 How digitalisation is efficient for transforming the firm?
P2. Project management plan
A perfect management plan is necessary for doing all the projects in proper manner.
Plans are like the standards which are followed to make the project successful for long term.
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For the purpose of making perfect plan it is required that already assess the risk, cost and quality
of the project. Rolex wants that they expand their business activities online also to get more
profit. For this purpose they are required to assess all these points regarding their business:
 Scope of the project: The scope of the project is very high because the modern generation
likes to buy the product online. This project has lots of opportunities which support the
business to increase their profitability. This online tool helps the company to spread their
business all over the world which is not possible through offline stores (Scapens and
Bromwich, 2010).
 Risk management: The risk is not so much high because the Rolex brand is already well
established in market and having good brand name but the management team is required
to decide the level of risk associated with online business. Management team is also
required that they take appropriate decision which are helpful in minimising the risk.
 Quality control: One of the major factor on which company has to give more emphasis in
online market is quality. It is already a well known brand which gives the superior quality
so the management has to retain that quality in online market also.
 Cost: the costing of the project goes high because they deal in online m,market which the
wider area but company has sufficient fund to manage their activities (Luft and Shields,
2010).
 Time: It is the main factor which effects the execution of the project. That the company
has to fix the time period within which the project should be executed. This is very
helpful in making the project more effective. They have to give the sufficient time to their
employees to execute the operations effectively. Rolex has to give time to project for
making it successful.
 Communication: Every project has good internal communication to make the project
successful in effective manner. Communication is very important for the implementation
of the project because it is the way through which top management provides information
to the employees regarding their project.
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By following all these points, an organisation successfully implement their project. All these
assessment helps the operation, marketing, accounting and all other departments of the
organisation. It also helps in knowing about the market so they can recruit more number of
employees so they can open more number of stores all over the world. A perfect management
plans always helpful in implementation of project (Cinquini and Tenucci, 2010).
Rolex needs to apply all these plans and study for successful implementation of their
online project. These plans are help them to support their employees and to increase the
organisations profit.
P3. Time line and action plan
Research is the most effective tools to assist the firm's management for determining the
opinion and nature of various perspective. It is helpful in framing key decisions that could
provides business a sound base for the firm. Therefore, for them action plan is essential. By
taking help from action plan, firm's operations can perform in the right direction by using an
adequate utilization of resources in the least time frame. An extensive research is required at the
time of dealing with these project. There are basically few steps which are required to be add on
for conducting research. These are:
 Determining problems or reason for which research have to be done.
 Review of literature
 Simplify the problem
 Identify term and concept of study
 identify respondents on which research would be executed.
 Frame instrumental plan
 gather data
 Assessment of the data
Entire these things would covers under the research project that is totally based on the
transformation of operational activities (Garrison and et. al., 2010). Because, it is helpful for
them in determining the views of so many people. Rolex is on the path of digitalisation so that it
could expand its operations via online marketing throughout the world. Firm takes 100
respondents by implementing random sampling method. The data gathered from them and after
that an adequate assessment is done in order to take an adequate decisions.

By adopting entire activities, action plan is incorporated within a time frame. Which is
helpful in framing adequate results which is beneficial for the long term intention. Rolex
implement primary source of information under which questionnaire is required to design (Otley
and Emmanuel, 2013). 10 questions are need to made which are going to ask to 100 respondents,
and these 100 respondents will represents the entire market. However, this has been observed
that the company is using random sampling method for collecting the data from the entire market
so that it could frame the strategy in order to make their business operations effective. However
this is one of the most easiest way to gather information effectively as this is cost effective. The
data gathered from London by way of rendering them a question templates. Because, this is so
much helpful in having the personal opinion of respondents.
Researcher is required to assess the dates so many times and do work within the time
frame that would help out for making business projects effective (Bodie, 2013). For making the
project sustainable and reliable, there is a need to frame a date plan and with in the allotted time
that will need to complete.
For converting the firm into a digital world, required to face so many problems. Finance
is the problem which arise in order to deliver to whole respondents in an effective manner.
Hence, company needs to face opinion of respondents and gather entire information and
assess entire information and assess it in order to make their operations efficient. Below
mentioned is a time frame and an action plan is made by the researhcer in order to convene a
research on digital transformation by Rolex.
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Such plan is required to adhere by Rolex so that they could do work in an appropriate manner
and also attain their objectives and aim in an appropriate manner. Because, digitalisation is
helpful for them in diversifying the firm around the globe without going physically in the store
(Lukka and Modell, 2010). This action plan is assisting for them in limiting the dubiety of firm
and diversification becomes successful.
TASK 2
P4 Carry out research by implementing by using adequate methodology
Research needs a method that are requires to adhere by a researcher for framing an
efficient results. By implementing these research methods, research is converted into an
analytical form so that the decisions can be taken in an efficient manner. For conducting any
research, researcher will use two methods for conducting survey. These survey are:
Primary data
Secondary data
Both are useful for gathering reliable information so that the business can make decisions
efficiently. The cited company uses both methodologies in order to get the reliable information.
But, before going to convene the research, company would need to categorise their
methodologies in qualitative and quantitative manner in order to find out the outcomes. For this
research, primary and secondary data is analysed in order to make the results effective.
 Primary data: This is the data which is used for the first time. Under this research
methodology, various tools are made in order to gather data. These are: Interviews,
observation, questionnaire, etc. such kinds of research frame results adequate. Rolex
made questionnaire that are required to made on 100 respondents (Ward, 2012). Which
may lead to render exact information and views of so many bodies which are the mart of
firm.
QUESTIONNAIRE
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Name:
Age:
Gender:
Q1. Does digitalisation assist the firm for getting sustainability ?
a) Absolutely Yes
b) No
Q2. Does digitalisation benefits Rolex for long time?
a) Yes
b) No
Q3. Do you think digitalisation helps the firm for diversifying their business?
a) Agreed
b) Disagreed
Q4. Do you think digitalisation could have positive impact on the firm ?
a) Yes
b) No
Q5. Do you think Rolex need to transform their business?
a) Yes
b) No
Q6. Do you think Rolex can store their data?
a) Yes
b) No
Q7. Does digitalization makes a long time effect on the company ?
a) Positive
b) Negative
c) Neutral
Q8. Do you think binding of whole divisions of company would limit red tap-ism?
a) Yes
b) No
Q9. As per the modern world, which method of marketing is most suitable?
a) Traditional method
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b) Modern methods
Q10. Any further thought for using digitalisation adequately?
Secondary data: This is the method by which published data is used in order to get the effective
outcome. Under this, researcher uses various published data for gathering reliable information.
However, this is the least expensive and if the operations of the firm is big then this is the best
method to gather the data (Baldvinsdottir, Mitchell and Nørreklit, 2010). Newspaper, Magazines,
Books and other published data are used in order to make their business operations effective.
This can be used if the data gathering is much more.
Research method- It is broad concept and covered different components which are helpful in
conducting research in an effective manner and these are research philosophy, data analysis, data
collection, type of investigation etc.
Type of data used- IN this, data which is used to conduct this given investigation is primary. In
addition to this, under primary data and investigator used questionnaire with various questions.
Data collection tool- The tool of data collection are primary and secondary. Both are very
effective and helpful in completing an investigation. In primary data, researcher collect
information through surveys, questionnaire etc. ON the other hand in secondary data includes
library, books, articles etc.
Data analysis tool- IT is a procedure of modeling, transforming and inspecting data with aim of
covered the useful data and information. Under this there are different data collection tools and
these are knime, Tableau Public, RapidMiner, Google Fusion Tables etc.
TASK 3
P5 Interpretation and evaluate the project outcome
Q1. Does digitalisation assist the firm for getting sustainability ?
a) Absolutely Yes 88
b) No 12
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a) Absolutely Yes b) No
0
10
20
30
40
50
60
70
80
90
100 88
12
From the above mentioned graph, this has been observed that 88 persons thinks that
digitalisation helps the firm for getting sustainability. While on the other hand, 12 respondents
thinks that does not believe that.
Q2. Does digitalisation benefits Rolex for long time?
a) Yes 92
b) No 8
a) Yes b) No
0
10
20
30
40
50
60
70
80
90
100 92
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From the above mentioned graph, this is observed that 92 respondents believes that digitalisation
will assist the firm in the long run. While 8 people does not think so.
Q3. Do you think digitalisation helps the firm for diversifying their business?
a) Agreed 86
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b) Disagreed 14
a) Agreed b) Disagreed
0
10
20
30
40
50
60
70
80
90
100
86
14
86 respondents thinks that Digitalisation helps Rolex in order to diversify their business. While
14 respondents disagreed about it.
Q4. Do you think digitalisation could have positive impact on the firm ?
a) Yes 92
b) No 8
a) Yes b) No
0
10
20
30
40
50
60
70
80
90
100 92
8
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