Research Project: How Technology Aids Small Business Growth (NISA)

This research project investigates the crucial role of technology in fostering the growth of small businesses, with a specific focus on the case of NISA, a small retailer. The report begins with an introduction that emphasizes the importance of adapting to technological changes for business success. A comprehensive literature review explores three key themes: how technology aids business progress in the current market, technological factors impacting business growth, and factors that help organizations grow through digital technology. The review examines various technologies like online payment systems, payment gateways, social media, and YouTube, detailing their benefits for small businesses. The report also analyzes factors such as online marketing, customer service, internet connectivity, and automation. The conclusion summarizes the findings, offers recommendations for small businesses, and identifies areas for further research. The project provides valuable insights into how small businesses can leverage technology to improve efficiency, increase customer engagement, and achieve sustainable growth in a competitive market.

RESEARCH PROJECT
ABOUT HOW
TECHNOLOGY CAN HELP
SMALL BUSINESS TO
GROW

TABLE OF CONTENTS
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
LITERATURE REVIEW................................................................................................................4
Theme 1: Technology can aid business to progress in the current market.................................4
Theme 2: Technological Factors impacting upon business........................................................6
Theme 3: Factors helping the organization to grow the business through the use of digital
technology...................................................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................13

INTRODUCTION
Adaption to the latest changes is the only key for success of companies in this highly
competitive world. This is pertaining to the fact that if the company will not adapt to the latest
changes then the consumers will not like the goods and services of company (Rydehell, Löfsten
and Isaksson, 2018). Hence, it is very important and crucial for the companies to research for all
the latest changes taking place in the market and if they are affecting the company then they
must adapt to it. Hence it is very crucial for company to make the necessary changes and adapt to
these changes for gaining success in this competitive world.
Thus, in these changes the most common and frequent change is the changes taking place
in the technological sector. This is pertaining to the fact that the business is being done at the
international level and there are many different changes taking place in the technology being
used in the business. Thus, the present research will be based on company NISA which is a small
retailer founded in 1977 and is headquartered in Scunthorpe, Lincolnshire in UK. The company
is a brand dealing in different groceries and wholesaler and is a wholly owned subsidiary of Co-
operative group Limited. In the retail sector there is a great development with respect of
technological advancement and improvements. This is majorly due to the fact that in the retail
sector big companies have much latest technology being used (Singh and et.al., 2019).
These companies are like Tesco, Sainsbury, Morrison, ASDA and many other different
types of companies uses much latest advancement in the field of technology. But these are big
companies so they can easily have access to the use of technology but in case of small companies
do not have much investment amount to invest in higher technology. Thus, for this it is tough for
small companies to work on implementing the latest and advanced technology within the market.
Also, the small companies not have much budget for installing the latest technological systems
within the company and also the scale of business is not much high to afford the latest and heavy
technologies.
These developments in technology if adopted by the small companies will help the company in
developing and growing to a great extent. This is majorly because of the reason that the use of
technology helps the company in working with great efficiency and effectiveness (Sarsby, 2016).
Thus, the use of the technology reduces the chances of error in the working capacity of the
employees and this increases the overall working proficiency and productivity of the company.
This help the company to grow in more advance ways as when the work is continued with

technology then the work is done in much better manner as compared to the human work which
is done by the employees. This helps the small companies to grow because of the fact that this
use of technology ensures proper working as per the requirement and enhances the quality of
work. Thus, the technology assists the companies in also increasing the goodwill. The major
reason underlying this fact is the when the small companies make the use of technology then it is
much liked by the consumer as the goods and services will be of good quality and this will attract
more of the consumers. Thus, if the consumer will be increased then this will help the company
in growing as its consumer base will increase and this in turn will increase the revenue and
income of the company. Also, if the income and revenue of the company will be increased then
they will invest that money in the operations of the company and this will assist the company in
increasing the level of business and the scale of business can be improved with this growth and
development. Hence, the major objectives for the present research for the use of technology in
the small business with respect to NISA are as follows-
Objectives:
1. To analyse how technology can help the business to grow in the present market
2. To study the technological factors impacting business to grow
3. To evaluate the factors that can help an organisation to grow with the use of digital technology
LITERATURE REVIEW
Theme 1: Technology can aid business to progress in the current market
According to Hitomi, (2017) technology refer to the approaches, procedures or
applications used to achieved set objectives and aims of companies operating their businesses in
retail sector since for so long. In recent time, technology advancement and development allow
firm to grow their business rather than before in competitive market where number of rivals are
available with range of products. Technologies are used in different functions such as marketing,
production and supply chain management. It uses fewer resources such as materials and workers
to produce products more effectively. There are varied types of technologies accessible in
market, which can be used by small businesses in order to gain competitive benefits and grow.
For example, online payment program is an internet based approach of processing economic
transactions, with the help of using this technology companies will grow more and more as it aid
them to accept payments over web and allow consumers to pay easily.

In simple words, this technology connects firm with advanced payment system, it offer
them ability to collect payment instantly from buyers without wasting time. It permits companies
to receive payments via using online payment programs from clients after purchasing products.
With electronic payment options management do not have to waste and spend a lot of time
collect payment and then calculate. Furthermore, by using e-payment system firm can get funds
in few minutes with waste of not time. In present era, people prefer to pay money in exchange of
buying products via using online payment modes such as Google pay, because it save time and
keep consumer safe from thief. It secures payments transactions procedure between buyers and
manufacturer or sellers.
As per view of Khan, (2017) payment gateway is one of the best technologies used by
retailers to accept credit or debit card purchases from consumers. It includes physical card
reading devices found in mortal and brick retail stores and also includes payment proceeding
portals found in online outlets. This system helps business to grow more than other companies in
same sector. It supports retailers to retain consumers with business for longer period. More
customers now look for cheapest and fastest payment options, when small business implement
this system they can satisfied potential clients in effective manner. The best way to accept
different payments is through a technology that permits workers to process them easily. By
accepting varied transactions, business will improve their consumer’s acquisition rate and
retention rate.
Heyes and et.al., (2018) contradict that technology can support business to grow as it help
to gain attention of consumers and retain them for longer time. Small businesses by creating their
websites on social media channels drive more people towards purchasing their products rather
than before. Technology advancement gives enterprises the best opportunities which they can
use to gain attention of more people. Social media is considered as computer based technology
that permit people or organizations sharing of thoughts, information about innovative ideas or
items and ideas through building of virtual communities and networks design, it gives
management electronic communication of content. Social media channels allow firms to spread
info about items or services in marketplace where number of buyers are available seeking for
purchasing quality goods in exchange of money. It helps companies to growth by generating
their businesses awareness in market. It gives many benefits to ventures, as it permit them to
reach to their target market and to gain attention of more potential clients. By using social media

tools such as Facebook, Twitter and other small businesses in UK, increase their sales and reach
at top level without taking much effort.
Discussed Buddayya and Gujjarappa, (2019) that YouTube is the best and much better
technology that can be used by small businesses to grow their practices and increase performance
level rather than before. It considered as video platform that permit management to upload
videos and allow consumers to watch it. It has 2 Billion monthly active peoples, giving
companies the opportunity to share business content wither over 30 plus million daily active
consumers who are likely to watch videos. Similar to SnapcHat, Instagram and Pinterest,
YouTube has benefits of visual content, but unlike other social media channels for business that
mentioned above, it has different stance of being owned by Google. Because of this, YouTube
has right to use to Google advertising platform and companies can use this to gain advantage
when using YouTube ads.
Without having to spend extra money and time on marketing dollars, enterprises can
make their YouTube Videos have top search rankings by including searched keywords in main
title, video description and real list of keywords in keywords method. A stunning 90 percent of
consumers will take purchasing decisions after viewing a video online. By creating and using
YouTube channel enterprise is able to gain the attention of people who are capable to pay after
purchasing that increase sales of business rather than before. By sharing video online,
management spread information about its produces and let consumers know about it.
Theme 2: Technological Factors impacting upon business
Antwi, Yi and Youbue (2018) viewed that technological factors resulting in online
marketing of the business causing impact upon the business to grow at global level. As it is
stated the most of the people are using the online platform to order the products in respect of
getting additional discount as comparison to the physical stores. As it is not necessary that online
marketing only used in promoting the new products or launching the services through the online
sites. But it also results in approaching the customer personally and interacting with them
through taking the reviews about the consistency of the products.
Asiedu and et.al., (2018) examined that by adapting the advanced technology in business
resulting in sustaining their business for longer way. As in this the role of customer services are
also important as through their guidance and instruction which is given to the customer to select
the accurate procedure, helps in attracting their interest more towards the products. As customer

are attracted if they find that the issues are patiently handled and listened and also appropriate
languages is used to resolve such disputes. By this aspects, the growth of business is ascertained
in respect of recruiting the skilled and trained person to handle the order and pressure from the
superiors in better way.
Balaji and Roy (2017) prefer that internet connectivity is one of the technological factors
which mainly influenced the decision of the customer towards the business. As customer demand
speedy services in respect of searching for any products and get instant answers for the particular
search. Thus, results in sustaining growth of the business through providing the details about the
products on instant bases (Rydehell, Isaksson and Löfsten, 2019). As it is not necessary that their
demand is raised for the faster connectivity but also they demand fast answers for their queries
raised. Thus, in respect of retaining customer towards the business, the connectivity of the
business must be faster and secured regarding protecting the customer interest and taste for
longer time period.
Bhushan and et.al., (2017) stated that automation is another benefits which is gained to
business in respect of reducing the impact of man power and also reduce the risk in the business.
As in case of small scale business, this is useful in saving cost through providing the automation
services to the customer, if they wants to interact with the company services personally (Roberts,
2018). Though this manner customer can securely share the information and also get authentic
information regarding the issues raised. It also helps the business to grow their business at larger
scale regarding automatic the task to be undertaken but its impact raised in respect of reducing
the jobs and man power in business.
Bonetti and et.al., (2019) highlights the tracking the competitors strategy and also
attracting customer towards the business is helpful through effective use of technology. As most
of the business are promoting the business online and also using creative ideas and strategies to
gain their interest for longer way. Thus, by tracking their tool and techniques to attract the
customer and also creates awareness among the customer regarding availing the products helps
in building their own strategies (Chaffey, Hemphill and Edmundson-Bird, 2019). Due to changes
in environment, the taste of customer are also changing and thus they mainly focusing on
preferring the hygienic and organic products. Thus, in respect of conducting the accrete market
research through the technology, helps in gathering the relevant information. By this aspects, it
helps in reducing waste in the business and also they can manage the profits in better way.

According to Buttle and Maklan (2019) advanced technology is one of the negative
impact which results in bringing chances of infringing the data and company information in
public. As most of the important details and company information are secured in their data which
is highly protected and secured through the codes. But sometimes dealing in upgrading the
software results in hacking the company information, which results in affecting the company
reputation and goodwill in larger way (Rao, Hymavathi and Rao, 2018). The positive impact lies
in relation to providing faster speed to the customer to avail the services in longer way.
Merhav, (2017) stated that technological factors are elements which relate to existence,
development and accessibility of technology. It could include things from computational and
electronically power to engine efficiency. With the help using latest technologies for promoting
items or services, small businesses gain attention of new people as well as aware existing
consumers about new items which is quite beneficial for them as it increase profit margin rather
than before. It allow management to identify the needs of customers and collect information
about their preferences.
Theme 3: Factors helping the organization to grow the business through the use of digital
technology
Chowdhury and et.al., (2018) stated that through adapting the online payment mode
results in bringing the business to the new scale through the digital technology. As customer are
attracted if they find the simpler money transfer policies through which they purchase the
company products and also easily transfer the money to the company. By this aspects,
organization had to utilize the upgraded software in productive way so that they reduce the cost
in the business and also improve the customer services in better way (Foroudi and et.al., 2017).
As online payment modes resulting in providing various benefits to the people in comparison to
the physical stores. The benefits are raised in respect of frequent transfer of money and also
getting the confirmation of the order through the various linking mobile apps number.
Conway and Hemphill (2019) argued that In respect of undertaking the online payment
mode, most of the customer are not satisfied with the company services which they provide
through the online payment methods. As the complaints are raised in respect of deducting the
amount from the banks and still the order are not confirmed (Pantano, Priporas and Dennis,
2018). After the deduction, it also not promises to return the amount within the stipulated time

period. Thus, usually people avoid to purchase the products through the online modes and also
avoid using the bank card for further payment.
Eggers and et.al., (2017) suggested that online payment modes are considered to be safest
mode for paying the money to any company in return of purchasing products. As most of the
companies are using the advanced software to track the customer details and their way of using
the mode of payment. Through this aspects, they can keep the record and also no person can
imposed the false blame upon the company in respect of infringing their money through tracking
their accounts.
Foroudi and et.al., (2018) criticized that it is stipulated that faster the use of technology is
adapted, faster the case of data infringement are recorded. As the hackers are performing their
duty through keeping the detailed record of the customer information and also track their
preference of choosing the products. As most of the cases are occurred through this perspective
only, as hackers firstly disclose their preference of selecting the products and then hack their
bank details in respect of infringing the money from their accounts. Thus it results in providing
less usefulness in context of company to rely their business upon.
According to Khan and Fitzgerald (2017) mobile technologies results in giving benefits
to the people to work outside the business premises and also balances their personal and
professional life in better way. As mobile technologies resulting in bringing significant boost to
the business to increase their efficiency and productivity to sustain their business for longer way.
As the main usefulness is gained through dealing with the customer through the mobile only and
also resolving their issues (Pantano and et.al., 2017). As it is tough to wait for the customer on
desk or approach personally to resolve the issues. Through the services of mobile, they can easily
build the strong links with the customers by editing their document or unwanted things regarding
their work.
Kumar, Anand and Song (2017) highlights that mobile technologies sometimes results in
not focusing on the severer issues and also thus results in not resolving it in better way. As the
problems which is faced personally or face to face interaction is more useful than the mobile
technologies. As challenges faced in respect of neglecting the important information or taking
decision on the respective document. But this sometimes results in bringing negative impact
upon the business. Thus, it is stated that depending upon the excessive usage of digital
technology results in neglecting the customer preferences in larger way.

As per Kumar, Nim and Sharma (2019) increasing workforces is also one of the major
aspects through which the organization can enjoy the benefits of using the digital technology. As
this is can be raised through using the social media marketing where they can represent the
interiors of the company and also the work which is attained by the employees at work place.
This helps in building strong base for the customer and also attracts them to choose their
products for longer way (How Technology Can Help You Grow Your Business, 2020). For e.g.,
in case of NISA, they are mainly carrying the business through the social media marketing where
they promote the business by using creative ideas and thought to retain the interest of customer
towards the business.
Masih and et.al., (2019) interpreted that the impact of social media marketing is higher
regarding facing issues relating to data protection. As it is examined that most of the companies
are hacking the other company detail or the techniques which they used to attract the interest of
the customer towards the business. Thus, it results in distracting the interest of the customer in
respect of sharing their personal information in the company official sites in respect of
purchasing any products (Nguyen, 2019). This results in facing issues regarding decreasing in
sales through online and also bringing competitors in the business.
CONCLUSION
In the end from the above whole discussion it is clear that for the small business it is very
essential for the company to make use of technology within the business. This is majorly because
of the reason that if the company will not adapt to the latest technology then the company will
not be able to earn good amount of profit. This is majorly due to the reason that if the company
will not make use of technology then this will not attract or influence more of the consumers.
Thus, this may reduce the operations and level of business of the company and it may suffer
losses. The report started with the brief introduction that technology is very useful for business in
growing and developing in the highly competitive world.
Further the report discussed in form of literature the various different type of technology
which can be used by company in progressing. These technologies were like use of advanced
payment mode or online payment mode, accepting the debit and credit card at the retail stores,
social media marketing and many other ways in which the technology can assist the company to
grow. Further the different technological factors impacting the business was highlighted like,
internet connectivity, automation, analysing and tracking competitors strategy and many other

are the impact of use of technology over the business. In the end the factors assisting the
company in growing with help of digital technology was discussed. Under this points like use of
e- payment methods, use of mobile technology and many others are the factors assisting in
growth of business.
Recommendation for further study
From the above discussion and evaluation it is clear that it is very essential for NISA to
adapt to the latest technology for getting its business operations to complete in effective manner.
This is due to the reason that this latest technology will increase the efficiency and working
ability of the company. Thus, for this some of the major recommendation for the company to
grow in the technological sector is as follows-
The first and foremost recommendation for the company is to have and make good and
effective use of the different market research techniques. This is majorly because of the reason
that in the retail sector there are many different changes in the technological sector and this need
to be adapted by the company to gain a competitive advantage over others companies. Also, this
research must be used in order to research that which technology is being used by the large
companies and other big retail firms. This is necessary because of the fact that this will assist
NISA in getting knowledge that which technology is being used by the big companies and how
they are operated.
The other major recommendation for the company is to make use of artificial intelligence
within the operations of business. This technique of artificial intelligence helps the company in
digitalizing the whole of the store and focusing on the requirement of the consumers. This helps
the company in creating a more advance and good experience to the consumer for the business to
consumer model. Thus, this will help NISA in attracting more of the consumers and this will
increase the operations of company to a great extent (Trott and Simms, 2017).
Another major important recommendation for the company is to hire and recruit some of
the experts and professional dealing in the use of new and latest technology. This is majorly
because of the reason that if the company will implement the new technology and they do not
know how to operate it then it will be a disaster for the company. Thus, for this there is a
requirement of some professional and expert who can guide and train the employees of NISA in
understanding the new technology and the ways in which it can be used and operated in effective
and efficient manner.

Another major recommendation for the company is to apply the change management
model at time of implementing the new technology within NISA (Tidd and Bessant, 2018). This
is majorly because of the reason that when new technology is being implanted it is the duty of
company to help company in adapting it. This is being done by applying the model of Kurt
Lewin change management model. Under this model first the older learning are dislearn that is
unfreeze. Further the new technique or the technology is being taught to the employees that is
change. In the end the new learning is freeze and used till any other new advancement is being
brought. This is called as refreeze the new learning.