Managing a Successful Business: Digital Technology Impact Report

This report examines the significant impact of digital technology on small businesses, using PEARSON as a case study. It explores how digital tools aid in manufacturing, communication, and overall growth. The report delves into the aims and objectives of small firms, emphasizing the importance of innovative products and services for customer satisfaction and economic development. It outlines a comprehensive management plan, considering factors like cost, scope, time, quality, communication, risk, and resources. A work breakdown chart is included to illustrate task division and efficient project management. The research section covers both qualitative and quantitative methods, highlighting primary and secondary research approaches. Data analysis is performed to draw conclusions and recommendations for enhancing business performance. The report concludes with a reflection on the project and its findings, emphasizing the critical role of digital technology in fostering business success.

MANAGING A
SUCCESSFUL BUSINESS
(IMPACT OF DIGITAL
TECHNOLOGY ON SMALL
BUSINESS)

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1 Aims and objectives of small firm Pearson...........................................................................1
P2 Management plan...................................................................................................................2
P3 Work breakdown chart...........................................................................................................4
TASK 2............................................................................................................................................5
P4 Small scale research...............................................................................................................5
Task 3...............................................................................................................................................8
P5 Data analysis..........................................................................................................................8
P6 Recommendation.................................................................................................................13
Task 4.............................................................................................................................................14
P7 Reflection of project............................................................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
Logbook.........................................................................................................................................17
Template for the performance review.......................................................................................18

INTRODUCTION
Digital technology is becoming a strength of a company as they are helping small
business organisation in developing themselves plus sending and receiving information digitally
in proper way and thus it make company to use such digital technology in making decision for
whole business as one. In this modern world, small industries are using innovative ideas with
digitalisation which is helping them in manufacturing and communication. Moreover, the digital
technology used by small business organisation is helping them to grow in a rapid way and
making firm to earn maximum profits plus benefits (Trkman, 2010). The report will talk about
PEARSON, a small business enterprise who is using the technology in an effective manner.
Thus, it will be highlighting that impact of technology on small business enterprises and in which
manner technology is helping in developing their firm. It will also discuss the plan that company
will make in developing themselves in very efficient manner. Data analysis is going to be made
using various tools and methods in an effective manner. Although suggestion part is also
included in the given report which will help in reducing barriers and will bring success and
maximum profits for entity.
Task 1
P1 Aims and objectives of small firm Pearson
The small enterprise is going with digital technology so that company can produce new
and innovative products and services for making the customers satisfied with company.
Therefore, the aim of the study is to analyse the impact of digital technology on small business
enterprises like PEARSON. Although firm has effectively introduced their products in market so
that society can uplift their standard of living by using their products and services (Wheelen and
Hunger, 2011). Even development of small business and society will lead in growing the
economy as well. The objectives of firm which has to be analysed are as follows:
 To know the requirement of tools and techniques along with new innovative
ideas in PEARSON company.
 It is needed to understand the use of technology in the firm PEARSON with
whole industry to enhance the knowledge of society.
 Analysing the technology which is bringing efficiency and it show innovation in
association.
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Although analysing the objective and aims of company, it is required to understand the
research question as well so that more information and data can be gathered for useful decision
making (Kerzner, 2013). The data which has to be collected and their research would be of type:
 Did modern technology and technique will help the company, Pearson?
 To Analyse how the innovation will be useful for firm PEARSON ?
 Do any need of cutting down the digital technology use in Pearson ?
Therefore, getting information and data from research as well as aims and objectives will
help the company to bring out an effective decision which directly affects higher entity growth
and economy of country as well (Storey, 2016). Somewhere technology is providing many useful
techniques to industry but it is on company that how they use such modern digital transformation
for their organisation.
P2 Management plan
The different companies are required to make a management plan whether organisation is
working at small or higher level. The management plan has to be effectively just because whole
firm works according to the plan made by them only. Normally, plan is being made for
development of entity as one and in efficient manner and making of management plan has to be
made in correct form because this planning helps in going with right direction by members to
accomplish the maximum benefits and organisations aims and objectives (Stokes, Wilson and
Wilson, 2010). Although the entire strategy made is affected with factors like (external and
internal) which are risky for firm because each function and work is dependent on each other and
thus cause for making plan is to know which factors are affecting the organisation and risky
challenges which has to be faced by firm. Some of those factors which affects in developing the
plan is as follows:
Cost: The finance is the base of every activity as if any function is done in organisation, it
is required to have money in their hand and then it is possible for effective working. The cost for
production of products and services has to be kept lower so that prices can be set reasonably and
customers can easily buy them (David, 2011). Therefore, budget has to be made by firms so that
they can utilise the funds available in correct manner.
Scope: It is needed for every small firm to know their aims and objectives in order to
bring new plan according to that only. Thus, scope in management plan will encourage to use
modern technology which will help entities to attract the maximum customers effectively and
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this will help in earning profits (Onetti, et. al., 2012). With this, company will try to create the
innovation in their plan and products which make the entity to develop themselves with raising
economy.
Time: Pearson is growing at a rapid speed by creating and innovating the new ideas in
their products and services which is bringing satisfaction in customers. Also, it has tailored
services according to demand of consumers and people liking innovative ideas with products too.
The plan by management should include the task completion time period so that the staff of firm
can work effectively and work or task can be completed on time scheduled by upper level in
their policy.
Quality: The quality product has to be produced by company so that they can satisfy
customers with their innovative ideas in products with help of modern technology. Generally, it
is needed to maintain the quality standard so that millions of people can be attracted towards the
organisation (Zott, Amit and Massa, 2011). In management plan, it is required to raise or
increase the quality standard so that better items can be served and can reach to aims and
objectives of firm.
Communication: It is the needed thing in organisation as communication help to transfer
the new ideas and innovation to others effectively in firm. Information and data has to be
communicated with other department so that they can perform in better way. If employee and
employer is having a healthy conversation among them then it is having a direct connection to
success. The planning manager has to create such policies which will help in increasing
interaction among every member of company. This will make coordination among each of them
and they can work effectively for development of firm.
Risk: Risk is that which affects the function internally and externally both. The
management plan should include all the techniques to reduce the risk in work as every firms
knows that risk is that which brings danger in working criteria (Marston, et. al., 2011).
Management should teach to every member of firm that how they have to face and manage the
risk possibility as risk can occur anytime or anywhere which has to be overcome by organisation.
Resource: To produce the quality products for customers it has required that firm should
have quality resources and effective use of such can help the company to reduce wastage of raw
material and efficient work can be bought. Although digital technology and the firm's asset will
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help in managing innovation and production of products. Therefore entity has to use their
resources in investment criteria so that they can receive the maximum output with it.
P3 Work breakdown chart.
Work breakdown structure help and useful in dividing the task with different departments
so that effective working can be seen because the work is being allotted to their specialisation or
skill in certain fields. Therefore it is very useful for another companies as well, because dividing
roles and responsibilities according to various divisions so that efficient working can be done in
firm (Christensen, 2013). Although such type of structure thus adapted by the PEARSON
company so that effective working can be done and it is opted just because to complete their
project on time and it will help in reducing the workload of senior managers as task can be
transferred to their subordinates as well according to their skill, talent and knowledge.
Thus managers of the company frame a work schedule that who is going to do that work
ans so on.. which help every member to know that which task has to be performed in effective
manner and in what time it has to be done. The hierarchy of wreak breakdown structure is in tree
form which subdivides the every member and division according to their level. Normally the
structure is prepared by senior manager so that they can divide the work to every department
which will bring effective working and thus with coordination as well. Structure also helps in
creating policy for every level in efficient manner and each and every level has to follow.
Moreover the Gantt chart is used to know the effective bar which help in knowing that
which task has been complete in that time period (Hotho and Champion, 2011). Although this
help in getting information or data to researcher so that they can bring the efficient policy and
decision in organisation. Generally the Gantt chart was made to divide the work according to
division and getting information that which task took the most time and which task doesn't taken
long time. According to this effective decision can be bought which could help company in
attaining their goal and objectives. The Gantt chart is as:
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TASK 2
P4 Small scale research
The research help the company PEARSON to use the information and data in effective
manner in bringing the efficient plan. The company can bring innovative ideas and development
of plan after having knowledge of market as what customers are having their needs and wants
and that has to be met by companies (Burns, 2010). Research reduces the chances of risk and
loss by companies in proper manner. The various research methods is as follows:
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Qualitative research: This method of research help companies to gather data and
information in form of Name, nature and code. This technique help the firm to make effective
decision which is going to help entities to bring attainment of aims and objectives (Brinckmann,
Grichnik and Kapsa, 2010). There are various tools as well used by this method in gathering
information those are (interviews, questionnaire, surveys and perception). Although such
research help in knowing the feedback of something and their needs and wants for products.
Sometimes expectation a customers is having firm can also be gathered with this method in
efficient way. Techniques is used by many companies whether large or small.
Quantitative research: Quantitative method is used by researcher when they have want t
receive information in numerical form. Thus such kind of research help the companies to make
effective budget according to the information and data received (Teece, 2010). The research help
the firm to use such research in using modern technology in producing the products and services
by PEARSON. Although it is clear that quantitative research is done to gather information and
data in form of numerics and statistical form.
Primary research: This kind of research includes gathering information from the market
directly and it will not include any mediator, thus it is because it also known as first hand
collection of information and data in efficient way.
Secondary research: This kind of research includes the gathering of information and data
through previous records and literature reviews etc.. it is also known as second hand research
although this kind of research is mainly used when assumption has to be made and some other
person has already used such kind of research earlier as well (Zikmund, et. al., 2013).
Sampling: Sampling refers to getting feedbacks a customers are having for particular
product in market and this help firm to make right decision and making of policies in
organisation so that whole company can work over such in effective manner. In surveys a
questionnaire is formed and distributed to large market so that many other options can be seen
and various thoughts and feedbacks can be received to improve that for further things.
A survey is being done with 40 people to gather information that implementation of
digital technology on companies and such questionnaire is as follows:
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Questionnaire
Name:
Email id:
Contact no:
1.) Does modern technology is helping company to gain more advantage?
a.) YES
b.) NO
2.) Is company performance having any influence by innovation and technology?
a.) YES
b.) NO
3.) Modern technology is giving any long term benefits to firm?
a.) YES
b.) NO
4.) Which technology is effective for company?
a.) Traditional
b.) Modern
5.) Is modern technology played role as guide in the development process of company?
a.) Agree
b.) Disagree
c.) Don't know
6.) Do you think so that modern technology used by firm is responsible for bringing more
investment in company?
a.) YES
b.) NO
7.) Any changes is required in product and service of PEARSON?
a.) YES
b.) NO
8.) If YES in above then make recommendation to improve that?
…......................................................................................................................................................
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.......................
Task 3
P5 Data analysis
Theme 1: Modern technology helping to get
more advantage.
Observation
YES 30
NO 10
Interpretation: Thus modern technology is providing the advantage to company in greater
manner thus survey was done on 40 people to know that whether the technology is giving
advantage to PEARSON in developing and getting growth as well or not. Through survey is has
came out that 30 people out of 40 says that modern technology is providing advantage to bring
innovation in their products and services. On the other hand 10 people out of 40 said that modern
technology is bringing company down, there is no advantage to firm with it.
Theme 2: Is company performance influenced
by innovation and technology
Observation
YES 35
NO 5
8
YES
NO
0 5 10 15 20 25 30 35
30
10
Column C

Interpretation: The company Pearson is suffering from influence of innovation and technology
in effective manner and thus according to survey it has come out that 35 people out of 40 people
says that company performance is being influenced by technology in positive manner. Although
5 person out of 40 people says that it has affected the company in negative manner and nothing
has been influenced by technology to firm.
Theme 3: Any long term benefit to firm by
technology
Observation
YES 32
NO 8
Interpretation: Although company wanted to know that any long term benefit the technology
will give to firm or not to increase the development and growth of firm. Through survey it has
9
YES NO
0
5
10
15
20
25
30
35
40 35
5
Column C
YES NO
0
5
10
15
20
25
30
35 32
8
Column C