Unit 2 Managing Successful Business Project Level 5 HND Diploma Business

Task 1

P1 Research aim and objectives

Digitalisation has creating positive impact on business organisation with each person or an individual. For small business organisation, it is necessary for them is to adopt modern technology which help in providing effective and efficient services to their customers in the market place. The concept of digitalisation is used by Softwire company and its main purpose is to increasing quality of their serving goods and presenting products. With the assistance of this process, they are capable for capturing the eye of customers in large market area which attracting more customers towards effective goods and products (Denzin and Lincoln, 2011). Digitalisation provide assistance for managing small business marketing, financing, accounting and communication impact that can easily sort with the help of advance features, communication methods, networking for grab and identify the benefits of digital technology development. Therefore, small size sector will able for considering the application of modern technology in the procedure of planning. For adopting this, company can make effective operations and functional activities for gaining high success and growth in future time period, digital technology help firm for gaining competitive advantages.       

Background of project:

An organisation need to adopt different alteration that are related to time where various modern technology of innovative services or facilities correct position in the external environment. Digital technology is important for manufacturing their innovative products and services that assist in increasing small business growth in the large market place. It help in developing and making effective business operations and functions in which all goods and services are require to produce and satisfy all demand and needs of the customers. Along with this, it is not necessary for all people is to transfer all essential data and information which are easily managed by electronic mails that can be done by financial divisions. It is also required to select data technology which mainly secured the outside individual interference that can be reduced at the same time period. With the assistance of digitalisation, company will appropriately promote their effective goods and services among customers of all the different nations (Fleming and Koppelman, 2016). Also they are providing accurate information about each goods in proper manner. There are various types of products and items that has been produce by organisation person for fulfilling all needs and demand of buyers and it will assist in supporting the small business growth and success. In addition to this, social media and mobile technology assist in connecting with different individual with each other in all over the world. At the time when an organisation introduce innovative project which have some common aims, objectives that are necessary for monitoring the entire business functions and activities in better manner.

Topic- “Impact of digital technology on supporting small business growth and innovation”

Aims- The basic motive of this firm is to became “the symbol group of choice” for specific retailers. They also require for doing particular work which help in developing and making new innovative goods with the help of different promotional channels such as television, advertisement and so more. The project has different aims that are as follows:

• They require to develop and making creative or innovative based products and services to their buyers in proper manner. They generally try to help in delivering various types of goods and services which target particular team people.
• The appropriate changes has been done as per the demand of desired customers and also need to make alterations for attracting large number of customers.

Objectives:

• To determine the direct impact on innovation activities and growth of firm
• To identifying the digitalisation which impact on innovation and growth
• To assess the implementation and preparation of business on digital technology

Research questions:

• Why digital technology affect on company growth and innovation?
• How the digital technology is implementation on business?
• How the innovation activities and organisation growth is effective?

P2 Making project management plan

It is essential for formulating and developing project management plan for project development groups and some other developers. It will help in conducting appropriate research within an enterprise. Project management plan assist in determining different things such as time, scope, cost, quality, risk, communication procedure which can be followed and all the major resources are used for setting better position of specific project (Geraldi and Lechter, 2012). It will help the investigator for saving their time and they require to decide that they need to analyse appropriate situation and condition. There are several project management plan that are described as follows:

• Scope- It is necessary for company is to understand different innovation functions and activities that are required to satisfy all needs and demand in proper manner. Along with this, research on small scale organisation which is essential for evaluating the impact of digital technology in effectively. It is correct method and techniques which can recommended by company for analysing entire data and information. It will advisable by investigator for determining all major areas that can provide better result or outcome for achieving desired goals and targets.
• Cost- For developing any project, cost is necessary for doing planning in advance manner. There are different things which is important for doing planning relates to costing in advance such as Gantt chart, data analysis (Hirshkowitz and et. al., 2015). IT systems, making questionnaire and taken assistance of experts. In formulation of each project, it is necessary to assign correct budgets of such functions and activities. While making developing innovating products, cost is required during its procedures. It is also necessary for accomplished with project at given period of time.
• Quality- At the time of market research, it is required for developer is to create and make effective techniques that can be used by company in better manner. Along with this, all the common activities and functions need to be completed in qualitative way which help in providing accurate results or outcomes. For doing appropriate research, it is required to clear their desired aims and objectives which are totally based on specific topic. This project is related to digitalisation which assist them in improving their company methods and techniques that are determining the actual goals and objectives. An organisation can getting accurate growth which provides quality based goods to their desired customers in better way. Also this will provide correct result and increasing productivity or profitability of the company effectively.
• Risk- When an enterprise begin any project so there are different risk that occurs in the research time. Such risk create and make barriers for completing the project at given time period. The most essential task or work is to arise while company will continuing the investigation at the same time. At the time of developing innovating products, risk is occurs for making some issues and problems within an enterprise. Apart from this, company can face growth that are related to risk which can reducing the profitability and goodwill of firm in the large market place (Hwang and Lim, 2012). They are setting standard for assuming specific risk which assist in analysing the rivals full information.
• Time- It is essential for each and every project is to consider the timing for completing the specific project activity at the level of reports. Along with this, effective scheduling help in completing project in better manner. An organisation will providing 25 days for finishing particular projects. Small business can doing specific for innovative products in limited time period and they are offering goods to their customers at the large market place.
• Communication- It is required for firm is to communicate with firm employees that are related to growth and innovation activities. They need to select best channel of communication that can assist in solving major issues and problems which can reduce the gap between various channels (Lakatos, 2014). For using Gantt chart, it will help in making by researcher and also this will perform each function or activities in proper manner. With the help of innovative products, firm will trying to gain profitability by serving demanding goods among potential customers.
• Resources- It is important for each developers is to examine and analyse required resources which need to be done in formulating specific project. The resources has been used for enhancing Softwire firm growth and innovation functions. It will assist in increasing the growth level and profitability in appropriate manner. Along with this, there are different types of resources which includes technology, human resource, finance and some other for completing particular project at given time period (Meredith and Mantel Jr, 2011). Finance and Human resource is useful in executing these requirements.

P3 Work break down structure and Gantt chart to providing time frame

P4 Carry out quantitative and qualitative research

Task 2

            Market research assist in recognising latest trends of an organisation. It will help in developing and making correct decision in better manner. For collecting actual data and information by using investigation methods which can help in formulating appropriate decisions for smoothly running of business operations and its functions (Peters, Howard and Sharp, 2012). There are mainly two methodologies of research which are describe as under:

• Qualitative method
• Quantitative method

            Qualitative research- In this method, business can gathering all important data and information which is essential for manufacturing department. It will provides numerical data that is easy for understanding. Investigator advise the company for collecting commercial and merchandising information of entire market which assist in analysing their growth and success for making innovating goods and services. The major benefit of this research is to examine whole necessary data and information which help in developing accurate and good decisions (Wahyuni, 2012).

            Qualitative research- It is another one of the major method where company can making effective ideas and thoughts of people which help in increasing firm productivity and profitability. This approach involved with structured and semi structured method for collecting accurate data and information in proper manner. Along with this, there are different types of research which help in identifying individual thoughts and opinions that can be gathered by different number of questions. With the assistance of this techniques, questionnaire is one of the best method which assist in measuring and evaluating company performance and its effective growth level. Quantitative research help in measuring individual behaviour on specific topic or theme.

There are two method of collection of data that are describe as under:

• Primary data
• Secondary data

            Primary research- This is the investigation method which assist in collecting all required information or data that are determined as primary sources. Data can be gathered from this techniques which is advised as straight and effective tool. A person can collect appropriate data by own manner (Westerman, Bonnet and McAfee, 2014). For managing such kind of investigators with the assistance of some sources such survey, interviews, measurement and ethnographic research. In addition to this, observation assist in examining behaviour of customers towards company goods and services for developing correct decisions in better manner. An organisation have been prepared questionnaire form in which they will take feedback of 20 respondents. With the assistance of using this, company can getting required information or data which help in enhancing success and growth.

            Secondary research- In this specific research, all the essential data and information which can be collected by secondary method. There are different sources that can be used by investigators that includes books, journals, online sites, internet, etc. assist in collecting important facts and figures (Wilson, 2014). For comparing with primary research, it is that technique which is more effective and best suitable in each manner. In current time period, there are some specialists who are taking support of secondary method which help in gathering all necessary data and information.

            Along with this, digitalisation is one of the most important feature which can help firm in directing towards attaining high level of profitability and this will assist in becoming great in current period. They generally need to update and upgrade all techniques or methods which is highly essential for company to offer effective goods and services as per their customers needs and wants. Digital technology assist in making and improving their manufacturing procedures which directly impact on business growth and success.

Task 3

P5 Analyse research and appropriate tools and methods

            All the data and information can be presented for conducting correct outcome for specific project. Along with this, it is required for company is to make or create effective decisions which help during improvement of such projects. Softwire need to understand entire data and information for gathering from 20 respondents of united kingdom. It will assist in making and developing accurate result for particular research project.

 Interpretation: According to this analysis, digital technology is useful for enhancing the business and success of an organisation. It will help in maintaining and managing all activities and functions within an enterprise. For controlling the business, it is required for company is to select best appropriate method by which they can easily manage and maintain all business operations in proper manner. There are around 20 respondents in which 14 people are say yes for adopting or using this suitable method of digital technology that can assist in making effective tools and techniques for gaining he amount of profitability and productivity in better manner. Rest of the 6 people are agree on not using this type of method and they think that it is not appropriate strategy for regulating the business.
Theme: Digitalisation is best suitable for business

 Interpretation: Digital technology help in providing basic benefits and advantages for Softwire company which maintain the functions and operations of an organisation in appropriate way. There are around 20 respondents among this there are half of the people who are saying yes and rest of the people are say no for getting advantages with the help of Softwire for long time period. This will help in regulating and attracting large number of customers towards firm goods and services and they are used this method of digital technology for operating the whole business operations and functions in better manner.
Theme: Beneficial for long time period

Interpretation: According to this analysis, digitalisation provide fast and rapid growth of innovation within an organisation. It will assist in providing effective operations and its functions in better manner. There are around 11 respondents who are say yes for giving the fast and rapid growth level and innovation in the firm. On the other hand, remaining 9 respondents are said that it is not best appropriate where this method providing effective and fast growth level in proper way.
Theme: Digital technology provide rapid growth

Theme: Positive impact on supporting small business growth

Interpretation: It can be analysed that digital technology help in developing and making positive effect on supporting the small business growth and innovation level within an organisation. There are around 14 people are agree on this statement and said that this digitalisation method create positive impact on getting small business growth and innovation. Rest of the 6 people are saying that it is not mainly provide effective growth and success to the firm.

Theme: Softwire develop effective goods and services

Interpretation: As per this above mentioned chart it can be analysed that Softwire company help in developing and making new and creative type of goods and services for attracting large number of customers. Among 20 respondents, there are 10 people who are agree on that Softwire developing and making unique and creative goods and services which provided to the desired buyers. Rest of the other 10 people are also said that this company does not assist in providing new creative products and items.

Theme: Organisation provide correct technology

Interpretation: From the above analysed that an organisation can provide effective and advanced technology for keep recording of their data and information in better manner. It can be describe that technology help in making and developing all demanding products which firm can produce as per satisfying the needs and requirements of desired customers. There are around 12 people who said that organisation provide accurate technology for recording effective facts and figures. Remaining other 8 respondents are saying that the organisation does not provide correct techniques and methods which give proper results or outcome.

Interpretation: It can be described that digital technology assist in providing different approach which directly affect on business operations and its major functions in better manner. There are three major ways by which the firm can impact their business growth such as positive, negative and neutral. Most of the people are agree on positive manner that is 11, 6 respondents are saying yes for negative effect of business regulation on firm and rest of the 3 people are agree on it is neutral way by which company can get success and growth.
Theme: Effective business growth and success of operations

Theme: Traditional method is best appropriate

Interpretation: Digital technology is used by company because this will assist in developing and making business growth and success in proper manner. For effective marketing promotion, it can assist in identifying various sources by which firm can promote their desired goods and services among large number of customers. There are around 14 respondents who are say yes for traditional marketing and rest of the 6 people are agree on modern method of marketing.

P6 Recommendation and findings

            Softwire is small business organisation which provides different types of goods and services to their potential customers in the large market place. They are trying to develop and make innovative products which assist in increasing business success and growth level. Along with this, this will help in maximising the firm productivity and profitability in better manner. There are different things that can assist in developing new goods and services for capturing entire market area where they can satisfy their customers demand and needs. Administration can easily taking accurate decision for gaining advantages of executing policies and planning. This will assist in identifying and recognising the all common functions which analyse employees performance as well as growth. Innovation method help in developing creative and making products and items according to their customers needs or demand in the large market place. An organisation is the small business which provide different types of goods for increasing profitability within an organisation. Along with this, company can mainly focus on reducing the specific impact on digital technology on effective business growth and success in better manner. Various recommendation are related with identifying innovative and creative goods or services which has been done by an individual.

Task 4

P7 Self reflection on the research

            An organisation can develop and make their business operations and its functions by taking effective support of technical factors. Digital technology is create positive impact on small business and innovation. For analysing this project, I have to determine certain technical factors which is most effectively impact on business targets and goals in proper manner. Softwire is small business enterprise of retailing which offer different kinds of products and services to their buyers. There are certain books and journals which help in identifying various factors of digitalisation and its direct effect on business procedures and innovation level. Along with this, I have to prepare Gantt chart which assist in solving all business problems and issues in different situations. Gantt chart aid in supporting business growth and certain innovation activities which help in attracting large number of customers towards company goods and services. After examining this report, I have observed that there are two methods of data collection such as primary and secondary. In this primary method, most of the people has been collecting certain data and information that has been gathered. There are different sources such as interviews, questionnaire and surveys. It is time consuming method which can easy for using by the firm. On the other hand, secondary data is that method which assist in collecting all present facts and figures in appropriate manner. Such techniques help in making and formulating investigating questions that is assist in my professional life. s

Conclusion

            According to the above mentioned report it can be analysed that Digitalisation is generally known as the procedure which help in transforming all the data and information in some digital format, where information are managed and arranged in better manner. Digitalisation has creating positive impact on business organisation with each person or an individual. For small business organisation, it is necessary for them is to adopt modern technology which help in providing effective and efficient services to their customers in the market place. It is essential for formulating and developing project management plan for project development groups and some other developers. It will help in conducting appropriate research within an enterprise. Market research assist in recognising latest trends of an organisation. It will help in developing and making correct decision in better manner. Along with this, digitalisation is one of the most important feature which can help firm in directing towards attaining high level of profitability and this will assist in becoming great in current period. All the data and information can be presented for conducting correct outcome for specific project.

References

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• Wilson, J., 2014. Essentials of business research: A guide to doing your research project. Sage.

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