Strategizing Technological Innovations for SMEs' Growth

The assignment focuses on understanding the impact of innovation on SME growth within rapidly changing markets. Through an analysis of existing research, including works by Audretsch et al., Awan & Zuriat-ul-Zahra, and others, it investigates how technological advancements and innovative strategies can enhance business performance. The report further delves into strategic planning tools like Gantt charts for project management and network planning to optimize operational efficiency. It also includes a discussion on the role of entrepreneurship in economic growth as highlighted by Galindo & Méndez. Finally, the assignment provides insights into eco-innovations and their potential impact on productivity, referencing Marin's study.

MANAGING SUCCESSFUL
BUSINESS PROJECT

Table of Contents
TITLE: The......................................................................................................................................1
impact of digital technology in supporting small business growth and innovation........................1
TASK 1............................................................................................................................................1
P1 Aims and objectives of the research study.............................................................................1
P2 Project management plan.......................................................................................................2
P3 WBS and Gantt structure.......................................................................................................5
TASK 2............................................................................................................................................6
P4 Qualitative and quantitative research ....................................................................................6
TASK 3..........................................................................................................................................13
P5 Collection of the data with implementing different tools and techniques...........................13
P6 Recommendations and conclusion.......................................................................................15
TASK 4..........................................................................................................................................16
P7 Reflection of the present research........................................................................................16
REFERENCES..............................................................................................................................18

TITLE: The impact of digital technology in supporting small business growth
and innovation.
TASK 1
P1 Aims and objectives of the research study
Background of the study
Digital technology determines essential functions and operations to develop effective
results in the enterprise. With this aspect, small enterprise has several opportunities to make their
functions and operations in different areas of the world. In this way, they can also develop their
objectives and goals with using several kinds of tools and techniques in different areas
(Audretsch, Coad and Segarra, 2014). There are different things exists that assists to create more
income and revenue at workplace. With the help of different activities, small sector enterprise
will easily carry their functions and operations to target people in the business. In order to attain
competitive advantages, efficiency will be enhances that make high profits and revenue at
workplace. Internet is the major aspect and element that helps to make creative results at
workplace. Hence, it is the systematic tool which need to perform task and operations in
successful aspect.
In addition to this, digital technology also creates major changes in the business that
make growth of the nation as well. In this aspect, reve5nue and profit will be develops at
workplace that assists to cater effective information in the business environment. In addition to
this, value of the economy also increasing that assists to measure outcomes and create important
role in the business marketing (Awan and Zuriat-ul-Zahra, 2014). In this regard, Talon Outdoor
has been selected which determines creative operations and functions to attract many customers
in the business environment. In this regard, innovative and forward thinking also develops at
workplace that assists to integrated various communication in the business. The company has
vision to create unique and strategic expertise activities that assists to measure effective results at
workplace. Nowadays, company determines their operations and functions to employ several
activities related with IT aspects. It is the systematic perspective that assists to measure effective
functions at workplace.
Aims and objectives
1

Aim: “ To assess the impact of digital technology which assists to develop effective results with
growth and innovation in small business – A Case Study on Talon Outdoor”.
Objectives
 To analysis the factors which impact on the digital technology.
 To identify importance of digital technology in the business.
 To create relationship between factors and importance to create innovative functions at
Talon Outdoor.
 To determines recommendation for increasing effective growth and outcomes of the
enterprise.
Research questions
 What are the factors which impact on the digital technology?
 How digital technology is important for growth of the small business enterprise?
 How digital technology factors and its importance are interrelated with each other for
creating innovative results in Talon Outdoor?
 What are recommendation are you provide that enhance effectiveness and efficiency of
the business.
P2 Project management plan
2

Task Name Duration Start Finish Predecessors
Research Project
Planning
Finding of the topic 3 days Sat 8/12/17 Tue 8/15/17
Statements of problems 1 day Thu 10/12/17 Thu 10/12/17 1
Time frame and
allocation of resources 2 days Sun 11/12/17 Mon 11/13/17 2
Implementation
Literature review 5 days Tue 12/12/17 Mon 12/18/17 3
Selection of correct
research methodologies 1 day Tue 12/12/17 Tue 12/12/17 4
Data analysis and
interpretation 2 days Thu 12/14/17 Fri 12/15/17 5
Evaluation of results and
outcomes 2 days Fri 12/15/17 Mon 12/18/17 5
Project closer Sat 12/16/17
Giving conclusion and
recommendation 1 day Tue 12/19/17 Tue 12/19/17 6
Results of documentation 1 day Tue 12/19/17 Tue 12/19/17 7
In respect to create effective functions and operations there are different elements exists
that make creative results at workplace. In the systematic work performances, activities planned
and develops research which ascertain creative results at workplace. According to the
requirement, the chosen organisation has responsibilities to concentrate on accomplish task and
objectives in significant manner. There are different elements includes that assists to grow results
are as follows:
Cost: In the present research, there are several activities has been performed that assists
to create effective functioning at workplace. In this regard, total budget need to be performed to
assess the total requirement of all activities (Zhang, Liu and Tan, 2014). In order to carry the
present research, total cost needed is £580.
Risk: With this aspect, present research ascertain activities for researcher due to limited
time and cost so that it impact on the functions and operations which performed by them towards
the present study. Risk also create negative impact on the goals and objectives. Further,
participants also taking important part to address the issue in effective way. In addition to this,
attract to all customer is the another crucial element that assists to make creative functions in the
business to gather relevant information at workplace (Laeven, Levine and Michalopoulos, 2015).
3

Scope: In respect to determines effective step, Talon Outdoor has several scopes for
undertake effective functioning at workplace. In this way, effective functioning will be ascertain
for growth of the small business enterprise. There are several strategies assists to target people at
workplace to create work in systematic manner (Sinfield and Solis, 2016).
Resources: In order to carry several functions and operations, there are several resources
exists that assists to develop research in systematic manner. It is the systematic work in which
aims and objectives will be accomplish easily. In addition to this, primary and secondary
information helps to carry the present research in Talon Outdoor.
Quality: Quality is the another important parameter which helps to identify relevant
information in the business unit. In order to carry the primary information, fresh and qualitative
information will be gather through using effective tools and techniques (Jackson and Schaeffer,
2017).
P3 WBS and Gantt structure
4

5
Illustration 1: Gantt chart

TASK 2
P4 Qualitative and quantitative research
In order to assess the outcomes, qualitative and quantitative research need to develop that
assists to make creative aspect at workplace. In respect to accomplish desired results there are
different to tools and techniques has been used. In the qualitative elements, relevant information
will be gathering at workplace that assists to accomplish goals and objectives at workplace. For
assess the business goals and objectives, in Talon Outdoor different elements used that create
effective functioning at workplace. In this regard, articles, journals, interviews, survey, etc.
elements used that make effective functioning (Marin, 2014). Further, systematic process also
ascertains which helps to make creative functions and outcomes in the business unit. With the
help of questionnaire, relevant information will be gathering at workplace that assists to
accomplish desired results at workplace. In this regard, systematic process considered at
workplace that assists to make desired goals and objectives in the business unit. Further, thematic
analysis also undertaken at workplace that assists to make desired results in the chosen
organisation. In the primary information we can develop fresh information results from the
analysis to ascertain effective results at workplace. Secondary information helps to identify
previous research review that make creative functioning at workplace with digital technology.
Questionnaire
6
Illustration 2: Network planning

Name:
Age:
Gender:
1. Talon Outdoor determines effective information on their website?
 Yes
 No
 Can't say
2. Which is the important source for implement digital technology in the selected business
enterprise?
 Integration of the social media
 Website of the company
 Online payment system
 Online forms for collecting customer information
 All the above
3. How performances of Talon Outdoor will be improves for attain more effective goals and
objectives at workplace?
 Paid research
 Printing advertisement
 Conference and seminars
 Social media
 Other media
4. How are you agreeing with operations and functions of the chosen business unit?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
5. Digital technology is the useful perspective for the business?
 Yes
 No
7

 Can't say
6. The company need to include in their operations and functions to make creative outcomes?
 Reduce cost of functions and operations
 Enhance ability to respond customer and supplier requirement
 Improvement in the goods and service quality
 All the above
7. Do you think, the company need to enhance their investment for digital technology?
 Yes
 No
 Can't say
Theme 1 The chosen organisation need to develops for effective information on their
website
Talon Outdoor determines effective
information on their website? Frequency
Yes 12
No 6
Cannot say 2
Interpretation: From the above graph, it can be stated that there 12 people exists who said that
the chosen organisation determines creative information on their website that assists to meet with
8
12
6
2 Yes
No
Cannot say

goals and objectives in systematic manner at workplace. On the other hand, 6 people said that the
business not providing useful information towards the business outcomes.
Theme 2 The selected enterprise has several resources to implement digital technology in
the business enterprise
Which is the important source for implement
digital technology in the selected business
enterprise? Frequency
Online payment 1
Integration with social media 1
Online forms for collecting customer
information 1
Customised website 1
All the above 16
Interpretation: Talon Outdoor determines several activities that assists to make effective
functioning at workplace. In this way, there are 16 people exists that stated that the company
need to includes online payment, integration of the social media, online forms, etc.
Theme 3 Social media is the important aspect which increase effective performances at
workplace
How performances of Talon Outdoor will be Frequency
9
1
11
1
16
Online payment Integration with social
media
Online forms for
collecting customer
information
Customised website
All the above