Managing a Successful Business: Rolex Digital Transformation Project

This report examines Rolex's digital transformation strategy, focusing on expanding its business activities online. It begins with an introduction to the changing business environment and the impact of digital technology. The report outlines a project management plan, including scope, risk management, quality control, and cost considerations. A Gantt chart and breakdown structure are provided to illustrate the research process, which involves identifying research questions, conducting literature reviews, and collecting data through questionnaires. The report then delves into the application of qualitative and quantitative research methods, including primary and secondary data collection. The analysis includes data analysis, research findings, recommendations, and conclusions regarding the value of research in meeting stated objectives. The report aims to provide insights into how digital technology can be effectively implemented to transform business operations, using Rolex as a case study.

Managing a
Successful Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Introduction...........................................................................................................................1
P2. Project management plan......................................................................................................2
TASK 2............................................................................................................................................5
P4 Application of qualitative and quantitative research methods...............................................5
TASK 3............................................................................................................................................8
P5 Analyse data and research......................................................................................................8
P6 Appropriate recommendations and valid conclusions.........................................................14
TASK 4..........................................................................................................................................14
P7 Value of undertake research to meet stated objectives........................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Today's business environment is changing at a fast speed as large number of technology
invention is taking place. This is one of the important term for expansion and growth of business
activities (Eckerson, 2010). Digital technology changed the process of business a lot as now it is
easy for organisations to store large number of data at adequate place and easily assess it. There
are number of new technology which can be used by companies to store and communicate data.
This makes the process of business easy and effective. Rolex one of the well established brand
who want to expand its business activities online is taken under this report study. Aims and
objectives of the project and management of project activities with an effective plan is all
detailed under this report. Application of various research methods such as qualitative and
quantitative and various recommendation through which firm can implement its activities easily
is all detailed in this report.
TASK 1
P1. Introduction
In today's business environment, it is essential for every organisation to use advanced
technology to fulfil the requirements of customers (Lai and Ong, 2010). This is increasing in the
modern business market and traditional market segment is declining on continuous basis. Impact
of this on business is very positive because this support the management to take appropriate
decisions. Cloud computing help businesses to transfer files easily within short duration of time.
Further, this provides an opportunity to a business firm to easily communicate with large number
of customers with the help of social media. All these opportunities increase profitability of firm
and make the business conditions better. For this, funds are required so that a business can easily
expand its activities in an effective manner without any hurdle. Today, large number of
individuals use the platform of social media which helps organisation to reach number of
customers easily (Crane and Matten, 2016). This provides lots of benefits to a business
organisation which supports business operations and helps to bring coordination among various
departments. Also, it proves to be helpful for firm to work with integration and identify
deviations, if any. Digitalisation provides various benefits to a business organisation and
supports it to make and offer high quality services to its clients. Overall, its impact on business is
highly positive.
1

Research Title: How digital technology has transformed various business activities: operational,
HR, accounting and marketing.
Background of project:
As new advancements are taking place in the present business world, so, it is essential for
every firm to change accordingly. In the same concern digital technology change the business
activities rapidly. It helps in making the business activities more effective than before which
supports organisation to offer high quality products and services to its customers for fulfilling
their specific requirement (Smith, Binns and Tushman, 2010). Further, with the help of
digitalisation, this decrease the chances of transfer data with the help of mails, which include
high amount of risk. It provides the facility of cloud computing through which they can
exchange data with security without interference of any third person. Data is collected from
different users which improve the overall production. Further, it helps organisation to make
products as per the specific requirement of customers. Technology like mobile and social media
helps in the process of connecting people on a large scale. This ensures appropriateness of
activities executed by the firms (Lin and Chen, 2012). So, it is necessary for a business to set
some specific objectives and aim before beginning business operations for fulfilling the
requirement of project and to get guidance during the process of business.
Research Aim: Implementation of digital technology for transformation of business operations:
Case study on Rolex.
Research Objectives:
 To assess the effectiveness of digital technology on business activities
 To identify implementation of digital technology on business
 To identify the need of business transformation
Research questions:
 How digital technology should implemented in commercial activities?
 How this technology is effective for business transformation?
 Why it is necessary to transform business operations?
P2. Project management plan
Execution of business activities without project management is not possible and this is
the reason, it is essential to make and prepare a project management plan for executing all
operations of a project in an effective way. This ensures the success of project and provides
2

various long term advantages. This further guides in identifying the scope, cost, quality and risks
included in the project (Den Hertog, Van der Aa and De Jong, 2010). It is important to make and
manage a successful business project. Rolex wants to expand its business activities online.
Before taking any decision, it is necessary that all the points must be considered as stated below: Scope of research project: Today's business environment is full of opportunities which
provide support to the expansion of business activities, that's why scope every business
product. In case of Rolex, managers of firm can expand business activities in various
areas of world. Management of risk: Rolex is already a well-established and popular brand. Little risk is
involved in whole project. Business can take more appropriate and effective decisions
after measuring the risks involved in project to get desired benefits or results. Quality control: Quality is one of the major aspects on which company needs to work
while doing business online. Presently, firm is offering high quality products to its
customers and it is essential for company to maintain it in the long run for getting various
advantages. This will help the firm to gain higher profits and company can increase its
number of customers. Cost control: Cost of the whole project will be high as firm will require more funds to
expand its activities online (Shang, 2012). So, it is necessary that company must have all
the required funds to expand and manage its activities. Time: It is important that all activities included in the project must be executed well and
on time. Timely implementation of project provides a number of advantages to the firm
and help to gain effective outcomes (Chesbrough, 2010). For this, it is necessary that
management should give a fixed time limit to its workers for executing operations and to
make the project a successful one.
 Communication: Effective communication is one of the essential components of every
project because with the help of this, management communicate with its workers and
other individuals included in the project. This helps in making roles and responsibilities
of everyone clear. Further, it helps in defining the area of new project in which business
wants to expand.
All these are the main factors and by comply with these elements an enterprise can successfully
implement its projects. This help in increase positive image of company. Further firm can
3

employ new workers for open its new stores in various areas. For all this an effective project
management plan is necessary. Rolex can make a project plan to execute its activities in an
effective way and for increase the sale of its products.
P3 Gantt chart and breakdown structure
Research is one of the effective tool because it help to get ideas and opinions of others.
This help to make an effective decision and provide various long term benefits to company and
this require an action plan (Ahmed Dine Rabeh, Jimenez-Jimenez and Martínez-Costa,2013) .
Effective action plan give direction help in effective execution of all activities and at the same
time ensure proper utilisation of firm's resources. Deep study is required to effectively deal with
all activities of project. Main steps of conducting a research include the following steps:
 Identification of main reason for conduct research.
 Literature review
 Clarify problem
 Define concept of study
 Respondents on which research will execute
 Formulation of instrumentation plan
 Collection of data
 Analysis of data
Research based on digital transformation of business activities will include all these activities.
This will help to get opinion and idea of others. Rolex want to expand its business operations
through online market with the help of digitalise. After getting views of various authors it reveals
that this will helpful for business or not (Gebauer, Edvardsson and Bjurko, 2010). After that, a
population is selected on which research process will be execute. Opinion of population help the
whole research process. For this firm will choose 20 respondents with the help of random
sampling method. Data is collected after that to take future actions sand execute the process
further.
With the consideration of all these action plan get framed showing fix time frame for
every activity. This help in make the outcome more beneficial and appropriate. Primary source of
data is use by Rolex in which questionnaires are design. 10 questions are framed which will be
asked by 20 respondents. Those 20 individuals are presenting the whole population because it is
very complex and hard for the firm to conduct research on more people in one time. Data is
4

collected form the London users by provide them a template of questionnaire. This help in
collecting personal opinions and views of various individuals (Trimi and Berbegal-Mirabent,
2012). It is very necessary for the researcher to review all the fixed dates in order to formulate a
final plan. Digitalise a business is very complex complex task that's why it is very necessary to
collect information regarding the opinions of other and to make an effective action plan. A action
plan which is prepared by the researcher for digital transformation can be understood by the time
frame And action plan stated below:
This plan will be followed by Rolex to work in a effective direction and to get the desired
results. In this way firm can expand its activities effectively. Further this will support to top
manager to take decision regarding the business and firm can expand its activities effectively and
can reduce the uncertainty.
TASK 2
P4 Application of qualitative and quantitative research methods
An effective method is require for the research so that researcher can follow it during the
whole process and can make or achieve better outcome. With the help of research methods, a
investigation can be converted into an analytical one which make the decision making process
more effective and easy. For any kind of research basically there are two type of sources which
can be used by a researcher for collecting information. This include the following:
 Primary
 Secondary
Both data collection methods are helpful for collecting information and to make a valid decision
for achieve the desired results (Jones and Lubinski, 2012). Both methods are used by Rolex for
collect information and at the same time to get support for digital technology in expansion of
business activities and to get a positive impact on business. Main methods which can be used by
researcher during the time of research are stated below:
 Qualitative
 Quantitative
 Analytical
Mainly qualitative and quantitative methods are use by researcher to get desired results and to
get various advantages in the long run. This is one of the effective and most beneficial technique
5

for conduct and measure results of research. To make the outcome more effective primary and
secondary data is used by researcher.
 Primary data: This is one of effective method of collecting data because new and first
hand data is collected under this. This is done with the help of personal interviews,
survey, questionnaires and many other (Smith, 2011). One of the main advantage of
using this is that it help to collect data which have some existence and is more beneficial.
A questionnaire is design by Rolex which will be asked by 20 respondents. This will help
the firm to get more accurate and valid data.
QUESTIONNAIRE
Name:
Gender:
Age:
1. Is digitalisation provide any benefits to business ?
 Yes
 No
2. Does this will be beneficial for rolex in long term ?
 Yes
 No
3. Does digitalisation impact business in a positive way ?
 Yes
 No
4. Is digitalisation is necessary for Rolex according to environment of rapid increment in
technology ?
 Yes
 No
5. Is it important for Rolex to do transformation in their business ?
 Yes
 No
6. Does firm have adequate technology resources to implement the process and store data ?
 Yes
 No
6

7. What will be the impact of transformation on business in future ?
 Positive
 Negative
 Can's say
8. Is it helpful for firm bind the activities of its department for reduce red tapism ?
 Yes
 No
9. Which method must be used by the firm for its marketing ?
 Traditional marketing
 Modern marketing
10. Any suggestion for effective implementation of digitalisation ?
Secondary data: Various sources of primary data help the firm to collect reliable data
which support and guide managerial decisions of a firm. First hand data is collected in this but
opposite of that in case of secondary data information is collected from the tools such as books,
journals, news letter, articles and many more.
Case study one: Rolex do various efforts ton do any kind of innovation in its products to
attract more customers. Mission of the firm is to make quality and unique wrist watches for its
clients. For achieve this it is analyse that company need to introduce number of changes to get
desired results.
Case study second: Watches of Rolex are very costly that's why these are for that
individuals who want to show off their wealthy. In such kind of situation company want to
produce watches for middle class people so more people can attracted towards its watches. For
this firm can use the platform of social media for promoting its watches.
With innovation in its products firm start doing promotion of its swatches on social
media. Hence digitalisation positive impact the business activities of Relox and its growth.
TASK 3
P5 Analyse data and research
Effective presentation of data helps in getting an effective outcome and this aids in the
decision making process of company. Rolex have to interpret data collected form respondents as
this will help them to get valid outcome of research.
7

1. Is digitalisation provide any benefits
to business ?
Yes 17
No 3
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Theme 1: Appropriateness of digitalisation for business
As per the current situation of business environment it is essential for organisation to use
digitalisation to perform effectively. As per the opinions of 17 respondents digitalisation will
provide benefits to Rolex.
2. Does this will be beneficial for rolex
in long term ?
Yes 14
No 6
8

Theme 2 : Beneficial for long term
Concept of digitalisation ensure effective utilisation of firm's resources and help firm to
get various long term advantages. With the point view of 14 respondents this will provide long
term advantages to Rolex.
3. Does digitalisation impact business
in a positive way ?
Yes 15
No 5
9
Yes No
0
2
4
6
8
10
12
14
16
14
6

Theme 3 : Positive impact of digitalisation
Digitalisation provide various number of benefits. According to 15 respondents
digitalisation will positively impact on the activities of firm.
4. Is digitalisation is necessary for
Rolex according to environment of
rapid increment in technology ?
Yes 14
No 6
10
Yes No
0
2
4
6
8
10
12
14
16 15
5