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
1

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