Impact of Digital Technology on Sales and Profitability: Harrods Ltd

This report examines the influence of digital technology on Harrods Ltd, a UK-based small business, focusing on its sales and profitability. The study outlines the aims and objectives, including analyzing the significance of digital technology and suggesting strategic recommendations. The research employs a mixed-methods approach, incorporating both qualitative and quantitative data gathered through surveys. The findings reveal that while the company utilizes some digital technologies, there's room for improvement in areas such as promotion and employee involvement in technology implementation. The analysis highlights the need for more resources to fully leverage digital tools and suggests that enhanced digital strategies, including online marketing and social media, could drive further growth and customer engagement. The report concludes with a reflection on the research process and its value in achieving the stated objectives.

MANAGING SUCCESSFUL
BUSINESS

TABLE OF CONTENTS

BACKGROUND OF STUDY
Digital technology is analysed as major element in present business context, that relates
to achievement of growth in business operations. It mainly considered all types of media,
equipments and sources which has newly developed and available in country (Digital
Technology, 2017). It is also considered as important for organization to implement the new and
updated digital technologies in order to increase the opportunities and decrease the expenses.
This digital technology equipments involves various things like computers, communication
channels, equipments of products of goods and services. In present scenario, the scholar has
applied various effective methods to analyse the data about the HARRODS Ltd which is a small
business enterprise of UK which has achieved a growth in its business operations. This study is
conducted to analyse various digital technology which are applied by organization for
management of business successfully and enhancing its sales and profitability (Muriana and
Vizzini, 2017). Mo rover, there various types of techniques have been used scholar in this study
to obtain the information about organization. Other than this, there are various effective methods
which are categorised in two aspects that is qualitative and quantitative (Raynor and et.al., 2017).
These important research methods are used by scholar to gain understanding about the influence
of digital technology on business growth. Sample of target people is taken to analyse information
about organization and make effective report.
P1 Creation of aims and objectives of study
Aim- To explore the impact of adoption of digital technology on company sales and profitability-
A study of Harrods Ltd.
Objectives
 In order to analyse the significance of digital technology.
 Analysis of various types of technologies.
 Providing suggestions of strategies that should be used by organisation.
 Analysis of company's financial position
P2 Project management plan
Task
Mode Task Name Durati
on Start Finish Predecesso
rs
Resource
Names
W
BS Cost Risk
Auto Analysis and 6 days Fri Fri 1 £0.00 Low
1

Schedule
d
selection of
research topic
6/29/1
8 7/6/18
Auto
Schedule
d
Development of
problems
statement
7 days Mon
7/9/18
Tue
7/17/1
8
1 2 £250.0
0 moderate
Auto
Schedule
d
Critical analysis
of literatures 6 days
Wed
7/18/1
8
Wed
7/25/1
8
2 literatures 3 £0.00
Auto
Schedule
d
Setting deadlines
for allocation of
resources
9 days
Thu
7/26/1
8
Tue
8/7/18 3 4 £300.0
0 Low
Auto
Schedule
d
Research
methodologies
selection
5 days
Thu
7/26/1
8
Wed
8/1/18 1,3
books and
Journals,
Articles
5 £500.0
0 high
Auto
Schedule
d
Understanding
and calculation
of cost
6 days Wed
8/8/18
Wed
8/15/1
8
4 6 £500.0
0 low
Auto
Schedule
d
Research and
data analysis 6 days Thu
8/2/18
Thu
8/9/18 5
internet and
project
managemen
t
7 £400.0
0 low
Auto
Schedule
d
Evaluation of
research and
findings
8 days
Thu
8/16/1
8
Mon
8/27/1
8
6 8 £475.0
0 high
Auto
Schedule
d
Conclusion and
recommendations 5 days
Thu
8/16/1
8
Wed
8/22/1
8
5,6 9 £100.0
0 moderate
Auto
Schedule
d
Documenting
outcomes 3 days
Fri
8/10/1
8
Tue
8/14/1
8
7 technical
resources 10 £25.00 High
Auto
Schedule
d
Last editing and
project closure 3 days
Tue
8/28/1
8
Thu
8/30/1
8
8 11 £0.00 moderate
Auto
Schedule
d
Final Editing and
Submission 3 days
Tue
8/28/1
8
Thu
8/30/1
8
8,7 12 £0.00
Table 1: Project Management Plan
Cost: These are analysed as expenses which are incurred by scholar to complete the project
activities. In this research, scholar has clearly allocated the cost for each activities with the
project management plan.
2

Scope: After the completion of research, the scholar will be able to determined the impact of
digital technology on business activities.
Time: The total time required for completion of project activities is also separately allocated by
scholar in this project. It is also accomplished with an aim to determined the completion of
project.
Quality: It implies to the reliability of project which is considered on the basis of method of
data collection. For collection of data on impact of digital technology on business activities'
scholar has selected both primary and secondary method of data collection which helps in
making research more reliable and appropriate.
Resources: There are various important resources are used by scholar for completion of
activities such as literature review, selection of research methodologies. Resources used are also
mentioned in the project management plan.
Budget: overall budget required for completion of project is £3000 which is also specified by
scholar in the above project management plan.
Project deliverable: After completion of this project, scholar will be able to determine the impact
of digital technology on business activities in organisation. This project will deliver complete
understanding various technologies which are used by organisation at workplace to improve their
business operations
P3 Preparation of Gantt chart
Gantt chart is an essential tool which is made to determined the timescales in which the
all activities for undertaking research will be accomplished. Critical path in network diagram will
also determine the activities which are important and without completion of those activities'
researcher will not be able to complete the other activities. Project scales is also determined to
stated interlink between activities that will be completed within specific time duration.
3

Network diagram
Project Timescales
Figure 1 Timescale for project
4

TASK 2
P4 Making small scale research by using qualitative and quantitative methods.
Research methodology
It is mainly referred to the process of collection of information in order to formulate
strategies and take corrective decisions to enhance the business. This is type of research that uses
various tools and techniques through the small business enterprise like Harrods will be able to
analyse data and develop information (Mammen and et.al., 2016). It includes the methods like
public research, interview, surveys and various effective methods and techniques that has been
used to make the corrective business resources and prospects. Further, this research has been
conducted to analyse the influence of digital-technology on increasing or decreasing the sales
turnover and profitability of organisation. Various qualitative and quantitative methods are used
to get the actual information and financial performance of enterprise in present competitive
market. Some important research methods are described below:
 Research design: It is analyses as the overall techniques that helps the individual to put
various important elements of analysis or study with proper justification and logical way.
Research design is referred to the structure of any scientific study that provides a
systematic direction and manages the research (Attar and et.al., 2016). There are various
costs and benefits of this research design method which influence the business of
enterprise. It defines the road to collection and interpretation of data related to various
prospects that has been used to calculate various financial outcomes of research and study
which has been analysed with collective information and research. There are three
different types of research design methods like experimental design, exploratory design,
descriptive design.
In present scenario, Descriptive method of research design has been used by researcher as
effective and based on theoretical analysis of data (Winit‐Watjana, 2016). It provides supports in
reducing the time to collect the information about the company. As per the research, it has been
analysed that increase in digital technology has provided a positive influence on growth and
development of Harrods. At initial stage, researcher has explained all critical and major aspects
of this study descriptive research design method to explore the essential elements of
technological growth and development to provide an understanding about positive impact of
5

digital technology like online marketing, digital advertisement, pay per click, electronic display
etc. in increasing the sales and profitability of enterprise. Philosophy of research: this method of research is concentrates on belief of researcher
which depends upon the way through which the data has gathered, evaluated and
corrected. It also supports the scholar in assessment to identify appropriate sources that
supports in increasing the knowledge and provides importance about the topic. Further,
using appropriate method of research philosophy will provide positive outcome to
complete the study and achievement of objectives (Médici and Allen, 2016). In present
scenario, in-depth investigation is organized to analyse the important link between
technological aspects and increasing business performance. Basically there two important
methods of research philosophy I.e. positivism and interpretation that is used to complete
the research project. In order to accomplish the aim, the scholar has used the method of
interpretivism. This method usually depends on subjective part of study and includes
important theories and models. Apart from this, it also analyses various human beings in
research practice as it mainly depends upon the way that researcher will use to interpret
the information. Moreover, the results which are gained from study are philosophies
which are considered as realistic and provides appropriate information interlinked with
research study. Interpretivism philosophy provides supports to individuals to achieve
aims and objectives. Thus, it is based on impact of technology supporting business of
harrods to sustain in competitive market and achieve growth and development.
 Research approach: As per the analysis, it has been analysed that organization needs to
gain information related to impact of using digital technology on business operations. It is
also considered as appropriate framework of research study in which some effective
theories and models have been applied by researcher to gain understand and information
about the Small business enterprise (Bailly and Comino, 2017). This method contains two
significant approaches which are utilized in two different categories that has bee used to
analyse the information about the understanding and knowledge. In present scenario, the
study of researcher is based inductive approach of research that is being utilized by
organization to gain knowledge and understanding. Further, in this approach the research
will identify the basic information about the study at initial stage and then analyse the
specific information about the impact of digital technology on business operations of
6

Harrods. Appropriate research methods like interview of employees is taken by
researcher to ask questions and gain appropriate and effective information. Through this,
it will be able to gain primary information to interpret and provide the positive outcomes
of study. Thus, it is the best way to gain the information related to impact of digital
technology on business operations of harrods. Quantitative methods: From the given analysis, it is most important method that is used
to develop the statements and reports. It is process that involves collection of data by
using the questionnaire methods in which the questions are developed and asked to target
people to analyse there response on the topic (Kerr and et.al., 2016). Moreover, there are
two types of data collection methods which are recognised as primary and secondary data
collection methods Primary data collection is considered as information which is not
being published any were and obtained by making various efforts on using questionnaire
method. Secondary method is concentrates on collection of data from information which
is already being published by different research authors and professors. In present
scenario, the researcher has concentrated on collection of primary data and developed a
questionnaire to collect the data and make in information through application of various
statistical tools. As per this method, digital-technology has provided a positive impact on
business operations of Harrods and also provided growth opportunities in retail industry.
 Sampling technique: It is also considered as quantitative methods of data collection in
which is used to gain information from selected target audience from population. This
method of sampling technique is used to collect the primary data and making its
information to gain valid outcomes (Mebius, Kennedy and Howick, 2016). In this
context, the research has also used this method in which it has target employees of
Harrods to collect the information about the organisation culture, improvement which is
gained after application of digital technology and requirement changes in ways of
application of methods. Through random sampling method, researcher has gained an
understanding the company is using the digital-technology effectively and also
achievement growth in business operations by Making improvement in business
strategies as well as in products and services which it provides to customers.
7

 Data evaluation: From the accomplishment of above activities, it is also important for
researcher to analyse and evaluate the data to consider that whether it is useful or not In
this, the there two different method which are used to evaluate the data like qualitative
and quantitative research method (Wright and et.al., 2016). In present analysis, the
researcher has used quantitative method of collection and interpretation of data for
acquirement of appropriate outcome and objectives behind the study. Apart from this,
there are various graph and charts have been prepared for interpretation. Thus, theme
support the researcher in evaluation of effective results and outcomes.
TASK 3
P5 Research and data Analysis through utilization of appropriate tools and techniques
For carrying out primary research a questionnaire has been made by scholar containing
close ended questions which are asked from selected 15 employees from Harrods. This
questionnaire survey methods will help in collection of relevant data and information related to
research.
Name:
Gender:
Age:
Designation:
Company: Harrods Ltd.
1) is your company is using the methods of digital technology?
A) YES
B) NO
2) Do you understand about various technological impacts on business operations?
A) YES
B) NO
3) Does organization has applied all the new technological equipment’s at workplace?
8

A) YES
B) NO
4) Up to what extent, Harrods has achieved growth in market?
A) Greater extent
B) limited extent
C) lower
5) Does Harrods has applied effective method of digital-technology in increasing the
promotion?
A) YES
B) NO
6) Is management of company take advise of employee in implementation of new technologies?
A) YES
B) NO
7) Do you understand that company needs more resources to utilize digital technologies?
A) Agree
B) Disagree
8) Does have achieved capability company to gain more profitability after implementation of
new technology?
A) Agree
B) Disagree
9) Do you give any suggestion to your manager for implementation of digital-technology in
enterprise?
A) YES
B) NO
9

10) Are you satisfying with policies of organization?
A) YES
B) NO
11) Does the organisation provide recognition to employees in decision-making?
A) YES
B) NO
Theme 1: Company is using the methods of digital technology
1) is your company is using the methods of digital
technology? No. respondent
A) YES 7
B) NO 8
Interpretation: This chart implies that there are seven respondent who think that company is
using the effective methods of digital technology. On the other hand, 8 respondents have
10
A) YES B) NO
6.4
6.6
6.8
7
7.2
7.4
7.6
7.8
8
8.2
7
8
Column B