Managing Successful Business Project: Victorinox Digitalization Report

This report analyzes a business project focused on the digital expansion of Victorinox, a watch manufacturer. The report begins with an introduction highlighting the importance of digitalization in today's competitive business environment, emphasizing its role in customer acquisition, retention, and efficient information transfer. Task 1 outlines the project's objectives, aims, and a detailed project management plan, including scope, risk management, quality control, cost analysis, time management, and communication strategies. It also presents a Gantt chart and work breakdown structure to illustrate the project's stages and timelines. Task 2 details the research methodology, including both qualitative and quantitative methods, such as questionnaires, and analyzes the collected data using suitable tools and techniques. The research explores the impact of digitalization on various business activities. Task 3 offers recommendations and conclusions based on the research findings, and Task 4 reflects on the research process. The report concludes by summarizing the key findings and providing references for the information presented.

Managing Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Objectives and aims of project...............................................................................................1
P2 Project management plan that covers time, cost, quality, communication and cost of
project..........................................................................................................................................2
P3 Gantt chart and work breakdown structure to offer stage and time frame of project............3
TASK 2............................................................................................................................................4
P4 Carry out research by using qualitative and quantitative methods .......................................4
P5 Analysis of research information with suitable tools and techniques ...................................2
TASK 3..........................................................................................................................................11
P6 Recommendation for draw conclusion................................................................................11
TASK 4..........................................................................................................................................12
P7 Reflection on undertaken research.......................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
In today's competitive world, new technology launches everyday in order to remain
competitive in dynamic business environment. These new technologies help firm in operating
business activities efficiently and it also provide an opportunity in achieving competitive edge
over rivalry. There are several social networking sites like facebook, instagram etc. that help in
customer retention and acquisition. Use of new and updated technologies also assist company in
transferring information from one place to another (Ackermann, 2012). Effective use of new
techniques help manager in conducting research and collecting relevant information related to
attitude and beliefs of customer which will increase effectiveness in decision making process.
Digitalization help enterprise in promoting its goods and services in area more effectively which
saves cost and time of company. Victornix, a small business enterprise which manufactures and
offers various types of watches is consider under this project report. Firm want to expand its
business operation in several different areas that can be best possible through digitalisation
which help in collecting information about beliefs and attitudes of potential customers. In this
report various research methods and sources of data collection has been used.
TASK 1
P1 Objectives and aims of project
Every company put various efforts for offering better quality products to satisfy needs of
their customers and to retain them for longer period. But demand of consumers changes
frequently with the change in technologies, so it is very essential for a company to use new
techniques. It assists in bringing effectiveness and innovation in product offering which help firm
in offering new and better product through which an enterprise can achieve competitive
advantage. These techniques will help in collecting information related to customer's opinion
which in turn will provide an opportunity to manufacture a product as per clients specified need.
Digitalisation includes a tool known as cloud computing, through which managers can save large
amount of data at one place and can share it to other places in few seconds (Wynarczyk,
Piperopoulos and McAdam, 2013). Digitalisation provides various channels of communication
by using different platforms such as a twitter, Facebook, YouTube etc. which assist in
communicating with large number of people about the product offerings. It helps in bringing
proper coordination and corporation among various functional unit of an enterprise and also aid
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firm in enhancing their production process which support in maintaining the quality of goods.
All these will help company in saving their time and cost and contribute toward its growth and
success.
Aim:- Impact of social networking sites on business activities such as operations, marketing,
human resources etc.
Objective:-
 To evaluate the effectiveness of digitalization on business activities.
 To determine the need of digital technology in business operations.
 To identify the benefits of utilising several social networking sites.
Research Question:-
 What are the advantages of digitalization?
 Necessities of digital technology in business environment?
 Describe the effectiveness of utilising digital technologies in business actions?
P2 Project management plan that covers time, cost, quality, communication and cost of project
As, Victorinox want to expand its business operations using an online platform, so it is
very necessary to formulate a plan which provides a description of all the activities which are to
performed (Lee and et. al., 2012). This plan will assist in managing the project and in achieving
the pre specified objectives and goals, which contribute toward the success of company.
Planning guide manager in timely basis which help in eliminating issues in project execution and
it also assist in managing the time, quality, risk, resources and cost. Major aspect involve in plan
of Victorinox is to expand business using digital technologies which includes following
elements:
Scope of the project:- Victorinox perform its operations in a dynamic environment
where customers need & demand changes frequently and it is very essential for firm to use
updated technologies for meeting these changing demand. Company can manufacture and offer
new product to its client in order to fulfil their demand.
Risk management:- Risk is an unavoidable factor which may restrict the progress of a
project, so it is very essential for a manager to identify the various risk associated with the
project as it help in formulating strategies to reduce these risk. As Victorinox is not much
popular brand so it include huge risk in its expansion, proper analysis of risk should be done in
2

order to manage the business expansion project properly and in formulating better policies
(Kyläheiko and et. al., 2011).
Quality control: Quality is considered as one of the very essential element of every
project, various measures must be taken by a manager for managing the quality of project as it
will assist in successful running of project. Victorinox is a manufacturer and seller of watches
which provides good quality product to satisfy their customers. It is very essential for manager to
maintain their quality which aid in success and growth of the company.
Cost: For proper execution of project it is very essential that a manager must manage the
available fund in an appropriate manner for executing operations effectively. Lack of fund will
create many difficulties and delays in activities. Estimated cost for the project is 2000$.
Time: Planning is very essential for the completion of project on time as lack of planning
may increases the time of project completion. So manager must formulate plan for maintaining
control over all the activities to get better result (Fu, Pietrobelli and Soete, 2011).
Communication: For proper execution of project there should be an effective
communication channel between various functional unit of an enterprise, which help in removing
confusion among employees related to their tasks. Proper communication will be contributing
toward the success of the Victorinox.
P3 Gantt chart and work breakdown structure to offer stage and time frame of project
Various types of research methods is used by company for collecting information related
to the attitude and preferences of customers. This assist in taking correct decision related to
business expansion and in achieving better result. For executing activities related with research
in proper manner, researcher must formulate an action plan which guides them in timely manner
(Mason and Brown, 2013). Following are the major steps involved in research:
 Determine the main objective of research
 Literature review
 Identify major issues
 Define concept of project
 Select sample size
 Formulate plan
 Analyse the information
3

All these are the basic step of conducting a research. This project is related with the use
of technology that help in bringing innovation among business operations which in turn will
contribute toward the growth of the company. Sample size selected by researcher plays a
significant role, so it must be selected appropriately (Parida, Westerberg and Frishammar,
2012). This research study contain sample size of 30 which is done by using random sampling
method. All the steps of research must be implemented in an appropriate manner for enhancing
the effectiveness of expansion project. Formulation of project management plan is very essential
as the use of technology is not an easy task and it requires huge amount of fund for financing
these operations of business expansion. A picture is given below which help in understanding the
time assign to each activity of a project.
This given plan is followed by Victorinox which assist in achieving its set goals and
objectives. It also help company in completing their tasks on time, as project management plan
schedule all the activities according to time taken by them which assist employees in performing
their operations more effectively (Lundvall, and et. al., 2011).
TASK 2
P4 Carry out research by using qualitative and quantitative methods
4

Questionnaire
Name:
Gender:
Age:
Occupation:
Mobile no.:
Email id:
Q1: Does the business use the concept of digital technology in its day to day running?
 Yes
 No
Q2: Does use of social networking sites likes facebook, instagram etc. impact business
activities & functions in positive manner?
 Yes
 No
Q3: As per current business scenario, is it necessary for every company to adopt digitalization
concept?
 Yes
 No
Q4: What are the major resources required for implementing digitalization?
 Expertise skills & knowledge
 Availability of adequate funds
 Technical equipments
Q5: For what purposes, Victorinox is using the concept of digitalization?
 To improve customer relation
 To improve business to supplier relation
 To enhance employee-employer relation
 For recruitment
Q6: Which of the following department gets more impacted by digital technology?
 Operations Production Marketing and Sales Human Resource ManagementQ7: What
are the key advantages of using Digitalisation? Save time and cost
 Improved efficiency of business operations

 Extended global reach
 Improved customer retention and acquisition `
Q8: Does the concept of Digitalization supports business expansion in other areas?
 Yes
 No
Q9: What are the main challenges faced by company with the application of Digitalization?
 Limited Budgets
 Lack of effective digitalisation strategy
 Employee Pushback
 Absence of Expertise to Lead Digitalization Initiatives
Q10: Any suggestion for Victorinox concerned with implementing digitalization concept?
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
P5 Analysis of research information with suitable tools and techniques
The most essential part of every study is to gather relevant information or data for the
same. In order to draw valid conclusion, manager of Victorinox needs to collect accurate data
which further help management in taking suitable decisions.
Theme 1: Use of digital technology in running day to day business activities
Q1: Does the business use the concept of
digital technology in its day to day running?
Frequency
Yes 25
No 5
6

Interpretation: From the above graph, it can be concluded that 84% of respondents believes that
it is important to embed the concept of digitalization in business activities for attaining high
competitive advantage in market while remaining 16% stills considers it not necessary.
Theme 2: Impact of social networking sites like facebook, instagram etc. on business activities
& functions in positive manner
Q2: Does use of social networking sites likes
facebook, instagram etc. impact business
activities & functions in positive manner?
Frequency
Yes 26
No 4
7
Yes No
0
5
10
15
20
25
25
5
Column B

Interpretation: From the above picture, it can be summarised that 26 out of 30 respondents
thinks that the concept of digitalisation affect business operations in a positive manner. On the
contrary, remaining 4 respondents believes that it impacts negatively.
Theme 3: Adaptation of digitalization concept
Q3: As per current business scenario, is it
necessary for every company to adopt
digitalization concept?
Frequency
Yes 28
No 2
8
Yes No
0
5
10
15
20
25
30 26
4
Column B

Interpretation: From the given graph, it can be summarised that 93% of respondents considers
adopting the concept of digitalisation for higher growth and development while remaining 7%
oppose it.
Theme 4: Major resources required for implementing digitalization
Q4: What are the major resources required for
implementing digitalization?
Frequency
Expertise skills & knowledge 12
Availability of adequate funds 10
Technical equipments 8
9
Yes No
0
5
10
15
20
25
30 28
2

Interpretation: As per the given graph, it can be concluded that 40% of respondents thinks that
key resource required for implementing digital technology is expertise knowledge & skills while
rest of respondent considers availability of adequate funds and technical equipments as major
resources.
Theme 5: Purpose of Victorinox for using digitalization
Q5: For what purposes, Victorinox is using the
concept of digitalization?
Frequency
To improve customer relation 10
To improve business to supplier relation 7
To enhance employee-employer relation 8
For recruitment 5
10
Expertise skills & knowledge
Availability of adequate funds
Technical equipments
0
2
4
6
8
10
12
12
10
8

Interpretation: From the above picture, it can be summarised that 33 % of respondent thinks
Victorinox is using the concept of digitalization in order to improve its customer relation.
Meanwhile, other 23% believes company should use digital technology for improving business
to supplier relation, rest of 26% and 18% considers the main purpose for implementing digital
technology is to improve employment relation and for recruitment.
Theme 6: Department gets impacted by digital technology
Q6: Which of the following department gets
more impacted by digital technology?
Frequency
Production 7
Marketing and Sales 10
Human Resource Management 5
Operations 8
11
To improve customer relation
To improve business to supplier relation
To enhance employee-employer relation
For recruitment
0
1
2
3
4
5
6
7
8
9
10
10
7
8
5

Interpretation: From the above graph, it can be concluded that 10 out of 30 respondents thinks
that marketing and sales department gets more affected by digital technology as it help in making
customer base more stronger.
Theme 7: Key advantages of using Digitalisation
Q7: What are the key advantages of using
Digitalisation?
Frequency
Save time and cost 6
Improved efficiency of business operations 7
Improved customer retention and acquisition ` 9
Extended global reach 8
12
Production
Marketing and Sales
Human Resource Management
Operations
0
1
2
3
4
5
6
7
8
9
10
7
10
5
8

Interpretation: From the above figure, it can be concluded that 30% of respondents believes that
digitalization helps in retaining customer for longer period whereas rest of them thinks that it
saves times & costs, extended global reach and enhance efficiency of company's operation.
Theme 8: Digitalization supports business expansion
Q8: Does the concept of Digitalization
supports business expansion in other areas?
Frequency
Yes 23
No 7
13
Save time and cost
Improved efficiency of business operations
Improved customer retention and acquisition `
Extended global reach
0
1
2
3
4
5
6
7
8
9
6
7
9
8

Interpretation: From the above graph, it can be figured out that 76% of total respondents thinks
the concept of digital technology help Victorinox in expanding business operation in other areas.
Meanwhile, remaining 24% oppose it.
Theme 9: Challenges faced by company with the application of Digitalization
Q9: What are the main challenges faced by
company with the application of
Digitalization?
Frequency
Limited Budgets 6
Lack of effective digitalisation strategy 7
Employee Pushback 8
Absence of Expertise to Lead Digitalization
Initiatives
9
14
Yes No
0
5
10
15
20
25 23
7

Interpretation: From the above figure, it can be concluded that 30% of total respondents thinks
that the major challenge faced by Victorinox while implementing Digitalisation is lack of
expertise skill and knowledge. While rest of 20%, 23% and 26% of respondents considers major
challenges as limited budgets, lack of effective strategy and employee pushback.
TASK 3
P6 Recommendation to draw conclusion
Victorinox is a wellestablished small business firm which manufactures and offer
watches. They are good in their operations and doesn't require any modification in their business
process as well as operations for accomplishing the pre specified objective. But in order to
expand their business activities at international level they are required to apply digital
technologies (George and Bock, 2011). Advance technologies are very essential for proper
utilisation of resources in an accurate manner which in turn will allow company to make a proper
analysis of company operations. Though the existing process of company is effective still it
requires to innovate more variation in their operations for achieving edge over their competitors
and to accomplish long term objectives of enterprise. Hence, firm have to pay more attention
during production process in order to bring innovation in their operations and to achieve long
term benefit.
15
Limited Budgets
Lack of effective digitalisation strategy
Employee Pushback
Absence of Expertise to Lead Digitalization Initiatives
0
1
2
3
4
5
6
7
8
9
6
7
8
9
Column D

By using advance technology, company manager can easily communicate to their
subordinates all information and data related to their tasks which aid in bringing efficiency in job
of employees. Apart from this, Victorinox is required to adopt an innovative approach that is
known as cloud computing which is an easiest way to access servers, database, storage and a
broad set of application services over internet. This help company in collecting and sharing the
data whenever required in few minutes. The major benefit which application of advanced
technology provide is it aid in reducing the uncertainty of hacking and managing information
confidentiality and in bringing innovation in product and services (Autio and et. al., 2014).
Therefore, advanced and innovative technologies help company in expanding their business
operations and in functioning over online platform more effectively, so that firm can achieve
success in its project.
TASK 4
P7 Reflection on undertaken research
Research is very essential part of every organisation as it helps in identifying various
facts and figures which assist in bringing efficiency as well as contributes toward the growth of
the company. It includes several methods that are beneficial in determining information related
to the need and want of customers for company's product and services. It also helps me in
conducting an investigation by using qualitative and quantitative method of research. Both the
approaches proves to be beneficial for me in determining client's behaviour in term of the used of
advanced technology. During research programme, many problems are faced by me and in order
to overcome these difficulties I formulated an action plan which assist me and other managers
also in performing operations effectively. This plan includes all the activities required to be
performed along with the time taken by them and sequences of each activities which eliminates
the chance of confusion and delays among workers. Hence this action plan will help in
implementing and formulating operations in a most effective manner.
Various number of difficulties arises at the time of execution of research but the main
issue faced by me is that there is lack of money. For performing operations effectively and on
time availability of appropriate fund is very essential as lack of fund result in delay of operations
and capital provided to me is not enough to operate functions. Hence I face larger number of
difficulties which affect my performance to a large extent because of low availability of fund still
16

I tried my best to manage all the activities. For collecting information, I used different
approaches and platform which helped me in gathering all the required data and it also assist in
enhancing my skills and knowledge on particular matter. In addition to this I also utilise various
resources such as financial, human, machine etc. which support me in increasing the profitability
and enhancing the performance level of the firm.
CONCLUSION
From the above report it has been concluded that digital technologies are very essential
factor of a company, with the help of which company can increase their profitability as well as
productivity level. It is very necessary to develop an effective project management plan which
assist in performing all the activities more efficiently. There are various aspects that help in
formulating a project management plan which are scope of project, quality control, risk
management, cost, time and communication. All these factors are very essential for a manager in
order to achieve long term benefits in shorter period of time. Company uses two techniques such
as Gantt chart and work breakdown structure which aid in analysing the work performance. For
conducting research program firm uses qualitative and quantitative approach of research which
help in gathering the data and information that assist in enhancing the performance and
profitability level of the company.
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REFERENCES
Books and journals
Ackermann, S. ed., 2012. Are small firms important? Their role and impact. Springer Science &
Business Media.
Autio, E. and et. al., 2014. Entrepreneurial innovation: The importance of context. Research
Policy. 43(7). pp.1097-1108.
Bradley, S. W., Wiklund, J. and Shepherd, D. A., 2011. Swinging a double-edged sword: The
effect of slack on entrepreneurial management and growth. Journal of business
venturing. 26(5). pp.537-554.
Chava, S., and et. al., 2013. Banking deregulation and innovation. Journal of Financial
Economics. 109(3). pp.759-774.'
Dudin, M. and et. al., 2013. Innovative transformation and transformational potential of socio-
economic systems.
Fu, X., Pietrobelli, C. and Soete, L., 2011. The role of foreign technology and indigenous
innovation in the emerging economies: technological change and catching-up. World
development. 39(7). pp.1204-1212.
George, G. and Bock, A. J., 2011. The business model in practice and its implications for
entrepreneurship research. Entrepreneurship theory and practice. 35(1). pp.83-111.
Kyläheiko, K. and et. al., 2011. Innovation and internationalization as growth strategies: The
role of technological capabilities and appropriability. International Business Review.
20(5). pp.508-520.
Lee, H. and et. al., 2012. SME survival: The impact of internationalization, technology
resources, and alliances. Journal of small business management. 50(1). pp.1-19.
Lundvall, B. Å. and et. al., 2011. Handbook of innovation systems and developing countries:
building domestic capabilities in a global setting. Edward Elgar Publishing.
Mason, C. and Brown, R., 2013. Creating good public policy to support high-growth firms. Small
Business Economics. 40(2). pp.211-225.
Parida, V., Westerberg, M. and Frishammar, J., 2012. Inbound open innovation activities in high‐
tech SMEs: the impact on innovation performance. Journal of small business
management. 50(2). pp.283-309.
Schaltegger, S. and Wagner, M., 2011. Sustainable entrepreneurship and sustainability
innovation: categories and interactions. Business strategy and the environment. 20(4).
pp.222-237.
Wynarczyk, P., Piperopoulos, P. and McAdam, M., 2013. Open innovation in small and medium-
sized enterprises: An overview. International Small Business Journal. 31(3). pp.240-
255.
Online
Introducing Research Methods. 2017. [Online]. Available through
:<https://www.skillsyouneed.com/learn/research-methods.html>.
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Template for evidence collection to
be attached with the report by the
learner:
Project Logbook for the chosen
organisation: Victorinox
Name of the learner: Name of the Supervisor:
Project Title: Managing successful
business
Date:
Update of weekly research/ tasks
achieved (Account for a minimum
of six weeks with dates)
What have you completed?
Did you fulfil Task requirements?
Are you on track and within
deadlines set?
Did you need to make any changes
to your project management
plan?
Comments
Impact of social networking
sites on business activities
such as operations, marketing,
human resources etc.
Yes
Yes, entire needs are fulfilled
in deadline set.
No, project management plan
doesn't required any changes
as there is no modification
takes place in regulation.
Any risks and / or issues identified?
 Did you identify risks/issues
with a lack of skills required
for undertaking research
tasks?
 Did you identify any
additional risks/issues that
have an impact on the project
Yes, various difficulties faced
during the collection of
content and as there are
various resources which are
not able to provide accurate
data.
Many difficulties faced during
this process includes lack of
19

management plan? resources and improper
responses.
Problems encountered
 What barriers did you face? How did you overcome them?
Various difficulties faced by
me during research such as
confiding part and unhealthy
environment.
For overcoming these issues I
influence customers for
providing correct information
in ethical manner.
New Ideas and change of project
direction
Digitalisation offer various
opportunities for businesses to
perform better hence it
doesn't require any change in
direction.
What Have I learnt about myself
this week?
 How did I feel when I had to
deal with tasks/problems?
 Did I find it useful to
complete the tasks?
 How well have I performed?
What did I contribute?
 What can I improve on next
week?
 How might this learning
apply in the future?
Digitalization help in bringing
innovation in operations and
give a chance to expand
business online.
Positive
Within the guidance of
manager, I became capable of
developing this project which
also helped me in enhancing
my skills.
I required to improve my
ability especially
communication skills.
It help in providing direction
to the administration for
taking better future decision.
20

Tasks planned for next week
 Which tasks are priority?
 Have you set aside sufficient
time for completion?
There are various tasks which
are the first priority such as
assembling data, reviewing
the literature & setting up the
purpose and objectives.
Yes, time taken by each
activity has been set up for
completing all the project in
an impressive manner.
Project plan status to date (on,
ahead, behind)
Up to date
Supervisor comments to address
Signature of the Supervisor and
date:
Template for Performance Review
Template to be attached with the
report by the learner:
1. What was the Project supposed to accomplish?
The main aim of project was to accomplish all the digitalisation
activities so that competitive advantage can be achieve along with
buyers
2. Did the project succeed in its aims/ how do you know?
Specifically, please outline any evaluation and assessment undertaken.
The main objective of project is to develop a company's image
throughout world and it is completed with the help of social activities
in order to obtain the foremost shape of business process.
3. What things do you think worked well and why? Evaluate all
aspects of the project (e.g initial inception, project activities and
project outcomes) from a range of perspectives.
I analysed all tasks while conducting project and shorten down
21

the time frame of activities.
4. What problems emerged during the project and how were they
tackled? Was there timely identification of issues and resolution during
the project process?
Yes, I faced many problems and issues during assembling of data
from various sources.
5. What did you learn from undertaking the project?
From this project I came to learn that each organisation
should use digital technologies for attracting customers.
6. How would you rate your performance as a management consultant
leading the project?
I would like to rate myself 8 out of 10.
7. What strengths and weakness of your performance did you
identify?
My strength is my that I'm a good communicator while my
weakness is analytical skill which reduce my work potential.
8. How will this inform and support your continuous professional
development?
It is essential for corporate business organisations to monitor free
flow communication within work place.
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