Investigating Technology's Impact on UK Retail Operational Efficiency

This report investigates the impact of modern-day technology on improving operational efficiency within the UK retail sector, with a specific focus on Toys "R" Us. The report begins with an abstract and table of contents, followed by a comprehensive literature review that explores the conceptual framework of modern technology. The study then details the research methodology, including the aim, objectives, and research questions. The report includes an examination of the advantages and challenges associated with technology adoption, along with recommendations to eliminate the negative effects. The report analyzes the impact of technology in the retail sector and offers insights into how retailers can leverage technology for improved operational efficiency. The report also outlines a discussion of the findings, conclusion, and recommendations for the UK retail sector. The report includes a questionnaire in the appendix.

Investigating the impact of
modern-day technology
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Abstract
Main motication of this dissertation is to identify the impact of modern-day technology in
improvement of operational efficiency within the UK retail sector. This is a main purpose and for
attaining this, there are different activities that were completed in systematic and successful
manner. Development of aim and objectives is a first activity that was done effectively.
Literature review is a second activity that was completed through collecting secondary data from
articles, books, and many other sources. This activity helped researcher in attaining of all
objectives and also fulfilment of research gap effectively. Research methodology section was
completed by explaining different types of methodology including deductive approach,
positivism philosophy, cross-sectional approach etc. These are main methodologies that helped
researcher in achievement of all objectives successfully. Data analysis is important chapter that
was done by using frequency distribution analysis. This technique supported researcher in
analysation of quantitative information easily and systematically. Conclusion and
recommendation is last activity that was done by explaining entire information in clear and short
manner. Recommendations were done by providing suggestions regarding improvement of topic.
At last, research aim and all objectives were achieved in successful manner.
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Contents
Abstract............................................................................................................................................2
Contents...........................................................................................................................................3
Literature review..............................................................................................................................7
Methodology and data collection, including research objectives/hypotheses...............................13
Results/Findings, Analysis/Evaluation of Results/Findings..........................................................15
CONCLUSION..............................................................................................................................29
Recommendations............................................................................................................................1
REFERENCES................................................................................................................................2
Appendix..........................................................................................................................................4
Questionnaire...............................................................................................................................4
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Introduction
Background of the research topic
Technology changed a lot from past few decades, new machines and gadgets are invented
in order to make easiness for individual. The term modern technology refers to a efficiency and
speed. In which it ensures about one on one communication, connecting an individual to
healthcare provider as well as empowering by giving more access (Klement, 2018). It is one way
to determine whether a provider is to be trusted and how beneficial services that they are looking
into day to day life. All little tailor machine to fastest car in the world, all these get automated
and reduces the manual actions which are required the least. For instance, modern technology
schools made easier for students to extract the possible latest technical invention for their growth
and development.
Modern day technology provides several benefits to companies in order to improve their
operational efficiency as it support them in saving time along with money. There are various
technologies that is adhere by the marketers like digital marketing techniques, machines learning
for demand forecasting, data sciences based on personal interactions, cashier less along with staff
free stores where robots are used, voiced commerce, eco-friendly POS system and so many other
developed technologies. All these are considered as a useful technology that helps retailing
industry to increase operational efficiency. In addition to this there are multiple number of other
technologies that helps and beneficial for companies in order to improve operational efficiency
of company (Hooshmand and Vote, 2017). Along with advantages there are various drawback
also such as for adopting new technology there is requirement of highly knowledgeable and
skilled candidates in order to operate that technology. As well as retailer firm undergoes into new
normal protocol in order to rescue Covid-19 transmission and concentrating on needs and
demands of consumers in order to increase their satisfaction level and for improving their
experiences. By doing that entities of company will able to increase sales and profitability ratio.
So with tall these considerations it become vital for all companies to adopt all developed
technologies in order to survive in competitive world as well as for gaining success and
development in marketplace.
Background of the organisation
Toys “R” Us is an American organisation and deals with wide rages of toy, clothings and
baby products. It is owned by Tru kids along with several other business units. This was founded
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by Charles Lazarus in year 1948, headquartered situated in Wayne, New York. This is a
multinational organisation and operates their business function in many areas across the world in
order to increase sales and profitability ration of company. This offers excellent quality products
to their consumers. Due to increment in mass merchants and online retailers this company began
to loss their market shares in toys market (Toy “R” Us, 2020). It is a star brand in Tru kids
family. This company is known for families and keeping baby happy along with healthy by
providing good quality products to consumers. They did division inn two section on is kids “R”
Us and another one is Babies “R” Us. This company continuously operates its business as a
licensor of chain international operations but its lender announced that it is a planned to
relaunched the U.S Toys” R” us as a retail business in future. This is a large firm as it operates at
international level for increasing sales and profitability ratio and the aim of choosing this
company is that this company also faces some issues related with the modern technology as well
gain some advantages of new technology. In order to carry out all function effectively they uses
functional organisational structure as it help provides clarity to all employees about their roles,
function and responsibility so this help them company to attain goal of company within
stipulated time frame.
Aim and objectives of the research
Research aim
Main aim of this research is: “To identify the impact of modern-day technology in
improvement of operational efficiency within the UK retail sector”. A study on Toys “R” Us
Research objectives
● To critically evaluate the conceptual framework of modern day technology.
● To identify the advantages of modern day technology in improvement of operational
efficiency.
● To determine the challenges linked with modern day technology.
● To evaluate the appropriate recommendation to eliminate the negative effect of modern
day technology.
Research Questions
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● Explain about the conceptual framework of modern day technology?
● What are the advantages that may be achieved by Toys “R” Us while using modern day
technology?
● What are the challenges may be faced by Toys “R” Us while using modern day
technology?
Rationale of the research
Main rationale behind selection of current topic or research is to determine the issues of
operational inefficiency within the workplace of an organisation. For this, modern day
technology plays an important role in enhancing the operational efficiency. This dissertation is
important for an individual, organisation, industry and many other stakeholders. This research
helps them by increasing their knowledge regarding the benefits of modern-day technology in
improvement of business efficiency. At personal level, current dissertation helps researcher by
enhancing their research skills such as time management, communication, data collection,
literature review and many more. This investigation is also important at professional level by
improving students’ knowledge and understanding about the modern-day technology.
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Literature review
Literature review introduces to the main as well as systematic process of gathering
secondary data regarding the topic. There are number of secondary sources such as articles,
books, publication research and many others relevant to the topic. Main purpose of literature
review is to determine the research gap in previous studies. In current investigation, main gap is
the impact of modern-day technology in improvement of operational efficiency within the UK
retail sector. In previous studies, there were lots of data regarding modern day technology but
there were lack of information about the effectiveness of modern day technology in enhancement
of operational efficiency. This is a main gap and for preventing this, there are some aspects that
will be explained as below:
Evaluate the conceptual framework of modern day technology.
According to views of Jacobs and Wright, (2018) Modern day technology has resulted
into a complete digital transformation of the way business organisations are adopting the latest
technologies. There has been a significant period of change because of the changing business
conditions. This framework is used across different organisations that is guiding them in
evolving a new range of products and service throughout different levels of the organisation. It is
providing of a common reference points in order to analyse the way business are transforming
themselves to achieve high success. It also enables the road map and strategy formulation
process to achieve the laid down objectives. In case of Toys “R” Us the use of latest technology
will be in form of enabling a process of driving customers to get attract towards the new product
development that is taking place in the organisation. Customers are expecting something
different from brands because of changing technology & fast changing external environment.
There is need to make a detailed evaluation of the expectation from customers by working
towards adapting such changes. The core function for an organisation is to work towards
continually advancing of operations and working towards improvement of the different products
and services according to specific customer needs. Such strategies also help in working towards
improvement to complete in the rapidly evolving market conditions according to the expectation
of customers, new commercial models and new technologies. Disruption is also a related concept
that is related with the changes that are part of external environment it includes customer
expectation from companies, technical possible situations, successful commercial models and the
need of suitable strategies.
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Many organisations are already adapted to the external environment at a particular point
of time because they are optimised for the environment in which they are already operating.
There is need to make an analysis of all the external factors that are driving the disruption
process it includes the expectation from target segment of customers, expectations of employees,
new technology developments and the rapidly growing start-ups. With the impetus of changes
there is need to establish ways of working to deliver effective results. Because there is need of
change as a result of falling revenues, negative pressures and the leadership prevailing in the
organisation that requires better strategic responses. In relation to Toys “R” Us there will be use
of digital transformation process that is going to help the leaders in entering the organisation to
get back to the path that will help the business in moving forward and not backwards, the success
story of most business is based on the speed of adapting top the changing external environment.
Regardless of the industry in which a particular organisation is functioning there are many
pressures that are arsing because of the competitor strategies that are affecting the future and
present possible actions of a business organisation. The digital transformation is one of the most
effective application of new technology development that will be taking place in Toys “R” Us. It
is going to assist the organisation in dealing with the intense changes so that no area of business
is misunderstood or is left behind the process of achievement of technological disruption. It is
used as means to create tangible benchmarks, clear indications of progress, meaningful metrics
and the segments that requires more attention. Another most important aspects are that leadership
team of Toys “R” Us has to ensure that change is successful implemented across all the levels of
organisation. It is a tool that is going to assist in application of digital transformation provides
ops that employees are able to adapt to the required changes. The technological implementation
requires a template that employees are bale to understand what is required, understanding of
changes that are involved, opportunity to work across cross functional teams to achieve the
desired goals (The Only Digital Transformation Framework You Will Need, 2020).
Morden technology is an advancement in old technology with some modification and new
additions. It is not dedicated to a single sector but it spread in multiples areas such as education,
business, medicines and so on. The perfect example of modern technology is that is advancement
in telephone as it become possible for peoples in this decades to live without wired phone as now
they can be taken with themselves at anywhere. Any machines that are surrounded to us are the
product of modern technology. It basically made things easier than an individual could imagine
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ever. The latest example of advancement of technology is 5G network which offer blazing fast
internet to the users, self-driving cars as well as reusable satellite launchers. The advancement in
technology that inventors launched is beyond the imagination. Smart watches are the
replacement of regular watches (Suzuki, 2018). In this an individual can make calls, text, browse
internet and even can take picture too sometimes. Smartwatches are the best example of
increasing productivity of users along with companies.
There are more numerous new inventions arrived in market in various form. With
reference to this robotics improved a lot from last few years. They also widened possibility of
modern technology in education. They are being used to helps teachers, students as well as for
cleaning purpose. Also some of the restaurant is using robots instead of waiter in order to serve
food to consumers by this they are saving huge amount of paying to employees by investing at a
single time. For example, UK is developed nation as the firm of that place launches so many
advanced things. It became vital for all companies to adopt all new technologies in order to gain
success and development at marketplace. Additionally, this helps them to combat with other
rivalries of market too in efficient and effective manner (Jelass and Benredjem, 2019). There are
various firm which invented so many things in order to gain growth as well as to enhance the
economy of nation and make nation developing or developed.
What are the advantages that may be achieved by Toys “R” Us while using modern day
technology?
According to the viewpoint of Singh and Energy (2018) technology become the most
important and vital factor in order to gain success and for combatting with other competitive
rivalries as it enhances the operational efficiency along with profitability. The most vital benefits
that is gain by Toys “R” Us company is that their entities save lot of time along with cost in
order to manufacture clothing products for consumers as machines saves lot of times compare to
manual along with cost of employees. In manual number of workers required are more compare
to machinery work. Additionally, advancement in technologies offers various opportunities to
Toys “R” Us company for increasing their operational efficiency such as managing the big data
sets as it not easy to manage it by using traditional data processing applications. It creates
intelligence beyond unlocking the hidden savings and fine-tuning productions process. In
relevance to company gain so many benefits of advancement in technology such as for
promoting about services entities of this company use digital marketing tool by this they will
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easily able to promote about their services and able to influence consumers towards their
offerings. Also this help them in identifying the needs and trends of consumers and with the
assistance of this mangers of company will satisfy their consumers.
According to Bruno and Ely (2017), it becomes vital for all companies to adopt all
technology development in order to combat with other players of rivalries and that is gain by the
Toys “R” Us company by adhering all advancement in technologies. As it helps them to gather
all information that are required to determine the trends and preference of consumer so that they
will able to improve their satisfaction level by monitoring or tracking their needs and demands.
As per the author, it also helps in planning about strategies, budget, forecasting the demands,
controlling business activities along with function of company in efficient manner.
As per the view of Murphie and Potts (2017), utilisation of developed technology helps
companies in enhancing the brand loyalty and image of company in front of consumers with the
assistance of detailed tracking of consumers as well as providing them various options in order to
making purchases and increasing variety & quality of goods offerings. Morden day technologies
such as digital technologies, modern manufacturing machines, 5G technologies systems etc. are
advanced technologies that helps business in improving the sharing data and that ultimately
enhances the efficiency with which data is assess in order to devise decision. Inventory of Toys
“R” Us company is assessed by using technologies in order to maintain and manage stock of
goods according to the needs of market. By this entities of company will able to manage cost of
inventory and that raise the benefits for organisation. Loyalty of consumer will also be increased
by offering consumer with personalised services and products so that consumers will get
influenced and make purchasing by this the sales and profitability of company will automatically
increase. Toys “R” Us, omni channels is also adopted by them in order to reach out more
consumers for improving their experiences and satisfactions. This tends to improvement in brand
image of company.
What challenges may be faced by Toys “R” Us while using modern day technology?
As per author Norris and Vaizey (2018), variation and modification in technology
impacted in both positive and negative manner with the execution of new advanced technologies,
the process are simple but the keeping regular changes on the basis of changes of external
environment become difficult. Changing trends and update of technologies impose pressures on
entities of companies to introduces modification in such a manner that they are offering their
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goods and products according to current requirements or preferences of users. For staying
competitive in modern world Toys “R” Us company need to constantly focus on assessing and
improving the process and technologies. But the customization of existing package or ageing
systems took time along with money. Additionally, in order to adopt new technology for
companies it is vital to provide training and development sessions to employees for adopting and
using new technologies as well as sometimes there will be need of expertise arose. This required
a huge amount of investment and time.
According to the viewpoint of Schatzberg (2018), in present time retailer are more relies
on technologies which is linked with the making of payments as consumers are moving to use
digital technologies of payment methods and for this it become vital for all companies to use
install all mode of digital payment so that consumer will able to make easily payment but by
linking their billing payments with their accounts. This is considered as beneficial for company
but it required a highly skilled workforce and large investment in order to install that then only
they will able to smoothly run their functions. In order to offer various option to consumers on
the basis of current trends, entities of company need to adopt all technologies as well as to
ensures strategic partnership with several manufacturers. It raises the needs of management in
order to maintain the stock and for this there is requirement of installation of software that
instantly record all the information or data about flow of inventory so this is considered as the
benefits for company in term of better managing inventory as well as to improves the
experiences of consumers but installation of software requires security, flexibility scalability
along with functionality. So before installing of any software it is vital to have proper knowledge
about software and then instillation will become beneficial for company otherwise it is a loss.
Moreover, retailer of company has to make sure that they have better display system so
that their consumers will able to determine various different segments within the stores easily.
For this there is requirement of display boards in the stores this increases the cost but offers
benefits to them for improving the experiences of consumers as well as to enhance the
knowledge of employees.
The appropriate recommendation to eliminate the negative effect of modern day technology.
According to view points of Marianne chrisos, 2019 there can be certain negative impact
of technology for organisation such as there can be high amount of biotechnology dependence
that may result into reduced interpersonal communication. In context with it can lead to lack of
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collaborative environment that can possess a negative impact on teams. It occurs mainly because
employees are communicating through chat programs such as Skype or other technology updates
means and internally it becomes difficult to operate the organisation according to traditional
requirements. technology has many benefits but sometimes new technology may also replace the
old technology and there is continuous rotation in the software and the process. It can lead to
outweighing of the benefit to use new technology. Business may also get lock in contracts with
the technology vendors that may not turn out to be best solutions (What Is the Negative Impact of
Mobile Tech on Business Communications? 2019). In order to install new advanced technologies
& software it is vital to have proper knowledge and skills for running that specific software so
for this it is important for companies to have proper knowledge about specific software before
instillation as well as companies needs to provides training and development session to their
employees in order to use proper all new machines in right manner. Also, it is important to run
and operates all function of modern technology while considering all aspect of sustainability of
environments. Company need to considered all moving most of their data and application to
cloud. Few advantages of this includes continuous backup in numerous locations, increased
flexibility by accessing data at any times in any place as it only requires internet connections and
using clouds become less expensive for securing all data. It only requires updates for increasing
protections and functionality. ERP systems are also there in order to reduces the level of
redundancy in entering data and the level of potential errors that can occur and this has ability to
save times along with money.
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