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Factors Which Has Force Business Entity to Implement Digital Technology

Organization Selected : Continental Consulting Ltd.

INTRODUCTION

In present scenario , the growth in digital technology has opened avenues for small medium enterprise. It has provided an organisation many opportunities to facilitate innovation and foster growth. Digital technology has allowed business owner of small medium enterprise to reach customer and influence them to buy the goods or services offered by company. It has provided business entity a chance to increase sales as well as profitability. In addition to the advantages, digital technology has bought some challenges for small medium enterprise. Increase in intensity of competition is the major challenge created by digital technology. It is required by an entrepreneur to employ digital technology at workplace in order to yield maximum benefit. The factors which has force business entity to implement digital technology are increase in competition , chang

The purpose of an assignment is to analyse the effect of supporting digital technology on small medium enterprise. It also has focus on determining the way digital technology has supported small medium enterprise in fostering growth.

LO1

P1 Aims and objectives of the investigation

Aim of investigation – It is defined as the purpose for which complete procedure has been designed as well as initiated by scholar. The present study has been planned for the purpose analysing the supporting role of digital technology in Small medium enterprise-A case study of continental consulting limited.

Objectives of research –This defines the activities or plans which will be implemented by scholar in order to achieve aim. Objective can be defined as particular target which an individual wants to achieve within specific time period. In present study , scholar has following objectives :

  • To develop the understanding about the concept of digital technology and its implication in small medium enterprise.
  • To analyse the effect of digital technology on the growth of small medium organisation.
  • To determine the wayImpact of digital technology supporting small business growth and innovation.
  • To increase sales by 15 percent within six months.
  • To increase the market share by 5 percent within 3 months.
  • To increase the customer base within six months.
  • To train the employees for handling the digital technology within two months.
  • To suggest the digital strategies through which continental consulting limit can yield maximum benefit.
  • To recommended some tactics which can be implemented by an organisation for increasing sales and profitability.

P2 Project management plans

Project Management plan is defined as formal document which are designed by the manager in order to manage people and different activities during execution of project. It defines the actions which are important to be taken in order to complete the task in systematic manner. Project management plans supports manager in identifying the suitable techniques , strategies which can be implemented in order to execute, monitor and control the actions during project execution. Preparation of project management plan is also crucial in terms of coordinating the different activities. It supports manager in identifying the risk or hurdles which can occur during the execution of investigation process. The project management plan covers various aspects of research such as time, quality, cost, risk, communications etc.

Cost –This is the main element in research plans . There are lot of capital investment are required for executing the investigation in systematic manner. Cost factors also includes the opportunities forgiven in order to complete research project on time. It might also involved the inappropriate procedure or product designing which may lead to the loss or failure. There are some fixed as well as variables costs are associated with the executing the investigation procedure. Some fixed expenses which are required to be incurred during the research are purchasing of equipment, stationery, communication device, etc. Huge amount of capital is required for collecting, analysing, recording, interpretation, presenting and printing data or information.

Quality – This is the other important component in project management plan. Reliability of information is completely dependent on the quality of data which is collected during the procedure. It is very much important for researcher to maintain the quality of work , as this has great impression on user. This factor also have direct impact on the image of researcher. Effective quality of information assist investigator in making suitable decision. It also provides researcher an ease in reaching to conclusion.

Risk – It is recognised as the threats which are associated with the conducting the research on specific topic. Project management plans support scholar in identifying the risk and help them in developing the suitable strategies for dealing with uncertain situations which might occur during execution of investigation process. Risk also includes the threat to the participants. In present study , scholar before starting the research activity has performed the risk assessment. In addition to this arrangement has been made as well as planning has been don by researcher in order to avoid the chances of risk.

Communication- this is considered to be as the important constituents in project management plans. Effective communication is required to ensure the successful completion of research project. Communication includes the technique, strategies , devices used by people during the procedures for interacting with each other. It is very important for scholar to develop good oral as well as written communication skills. As oral communication abilities are required for accumulating the facts relevant to the investigation topic. In present study has utilised the E-Mail and telephone for gathering information relevant to research topic.

Scope – It defines the various requirement of things or resources for executing the investigation procedure. The scope of present research is limited as the investigation is on analysing the impact of digital technology on the innovation as well as growth of small medium enterprise. Scope of the research project covers various aspects such as cost , deliverables , actions and completion time. All the factors such as timer, cost etc. are predetermined by researcher in order to eliminate hurdles during investigation process.

Resources- These are the crucial elements in research project . As resources are required for variety of purpose such as gathering, interpretation, analysing and presenting information or data . Lack of resources can create major hurdles in completion of investigation process. There are different types of resources are required for executing the research , these are finance , human , technology , communication device and other equipment such as laptop.

Time –In the research project time has been considered to be as the major factors. Lack of sufficient time can create major barriers in executing the in depth investigation on specific topic. Time limitation can also have negative influence on the quality of work done by researcher during Investigation procedure.

P3 Gantt Charts and work Breakdown structure

Work breakdown structure is refers to as the system re-engineering which is designed specially by manager for managing several activities during investigation process. It is mainly a grouping of task in small parts. Work breakdown structure is considered to be as an effective technique which is utilised by manager in order to reduce the work burden and make the task look simpler (Wartella and et.al. 2013). It also allows manager to manage people , resources as well as different activities in effective and systematic manner.

Gantt chart is recognised as the graphical representation which defines the sequence in which different activities or procedures will be executed during the research (Hermsen and et.al., 2016.). It also consists of the detail about the starting as well as ending or completion time of each and every task or process.

Task Name

Duration

Start

Finish

Predecessors

Research project

70days

6/27/18

6/15/18

Preparation

19 days

2/27/18

3/24/18

Choice of topic for investigation

8 days

2/27/18

03/09/18

6

Analysing the problem

6 days

03/10/18

3/20/18

3

Establishing the time schedule for the allotment of resources

5days

3/21/18

3/24/18

4

Execution

50 days

3/27/18

06/06/18

Analysing the view of different authors and writing literature review

10 days

3/27/18

04/11/18

9

Selecting research methods

15 days

04/12/18

05/03/18

11

Computation or determination of the expenditures

5 days

05/04/18

05/11/18

5

Analysis and interpretation of information

17 days

05/12/18

06/06/18

15

Valuation of outcomes

9 days

05/12/18

5/25/18

8

Closing of research project

14 days

5/26/18

6/15/18

Providing conclusion and recommendations

7 days

5/26/18

06/06/18

6

Proper documentation of results

5 days

06/07/18

6/14/18

5

Submission of report

1 day

6/15/18

6/15/18

1

LO 2

P4 Appropriate research methods

There are different techniques , explanation , hypothesis , techniques , and strategies are used by researcher in order to accomplish the aims and objectives. In current investigation , the several approaches, philosophies has been used by the investigator. The different methodologies utilised by scholar has helped them in executing investigation process in systematic manner. Use of appropriate research method has help researcher in drawing valid conclusion and making appropriate decisions (Taylor,Bogdan and DeVault,2015.). There are different approaches , concepts , strategies and techniques has been used by the scholar for executing the research project in systematic manner.

Research type- Qualitative as well as quantitative are mainly two types of research. The investigation type can be determined by analysing the nature of problem (Nambisan, 2017). Considering the nature of the issue , investigator has planned to execute quantitative research.

Research philosophy- It is considered to be the belief or assumption made by the scholar while gathering the information or data relevant to the topic of investigation. Interpretive as well as positivism are the two types of philosophies which can be utilised by the researcher for facilitating innovation. Research philosophy helps scholar in identifying as well as developing the understanding about the issue. It also assists researcher in analysing the suitable solution to the problem (Silverman,2016.). In the latest research, investigator has used various explanation and findings in order to test subjective concepts.

Research design-It defines the overall strategies which are designed as well as implemented by scholar in order to complete the research project on time and in systematic manner. Research design consists of details about the techniques which will be utilised by the scholar in order accumulate information or data relevant to research topic. Selection of the research design is completely based on the type of investigation. Some of investigation design are explanatory, explanatory, descriptive and experimental (Taylor, Bogdan and DeVault, 2015). In present investigation on topic analysing the impact of digital technology on growth and innovation of small medium enterprise , researcher will use explanatory research design. This specific design has been selected, as it will help researcher in getting the in depth knowledge about the field.

Investigation approach- It is considered to be as a plan which is designed by the investigator in order to facilitate research in systematic manner. Research approach consists of set of assumption and beliefs related to accumulation of data, interpretation, analysis and presentation of information (Rose,2016). Selection of research or investigation approach has been done by the scholar on the basis of nature of the research problem.

Data collection method and sources – It is the important part of investigation process. As without the collection of facts , researcher will not be able to identifying the root cause of the problem and will not be able to execute the investigation further. There are different strategies and techniques which can be applied by investigator in order to accumulate relevant information. In present investigation process, Scholar have gathered information or facts from different sources such as primary and secondary (Özerdem and Bowd, 2016). The two strategies or techniques used by investigator for collecting information are personal interview and questionnaire.

Sampling - It is considered to be as procedure of selecting the prescribed ore predetermined number of respondent from wide population. Sampling is done by scholar considering the issue of time. It is very much important for researcher to select the such participants those who have potential to represent the interest of wide population. The appropriate technique should be used for selecting the sample. As this factor will assist investigator in eliminating the biasses (Leavy,2016). There are several techniques such as random , cluster , systematic sampling .In present investigation , scholar will use random sampling techniques and has selected 20 respondent. Employees working incontinental Consulting Limited has been selected as a participant in research.

Data analysis-It is defined as the procedure which includes Cleansing as well as refining the data or information. Data analysis is also considered to be as an important task in order to avoid biasses and unreliable facts. As this factor can have negative influence on the decision made scholar (Smith, 2015.). In present investigation, scholar have decided to utilise the qualitative technique for data analysis .In addition , Researcher will also use Thematic analysis For presenting the data or information in systematic manner.

Qualitative research methodologies

Questionnaire

Demographic information

Name: __________________

Age: ________________

Gender: _________________

Ques 1. How will you define the business of an organisation in which you are working?

  • Medium-size businesses
  • Multinational company
  • Small medium size enterprise.

Ques 2. Howe long company is running ?

  • More than five years.
  • Les than four year.
  • Since one year.

Ques 3. Does Continental Consulting Limited utilised the digital technology for performing the routine business function?

  • Yes
  • No
  • Don't know

Ques 4. What type of digital technology is presently used by firm?

  • Inform nation system
  • Telephone system
  • Computer

Ques 5. How much agree you are with the fact that digital technology assist business entity in fostering growth and encourage an organisation to facilitate innovation?

  • Completely agree
  • Partly agree
  • Completely disagree

Ques 6. For what purpose an enterprise presently utilising digital technology?

  • For recruitment
  • Improving inter departmental communications
  • Enhancing customer service.
  • Other

Ques 7. What impact does digital technology have on business growth ?

  • Positive
  • Negative
  • Both

Ques 8. Among the following which is the most useful effective technology?

  • Accounting system
  • Computer software
  • Inventory control software

Ques 9 . What types of digital technology company is using for facilitating communication?

  • Skype
  • E-mail
  • Telephone system
  • Video Conferencing

Ques 10. How much knowledge or awareness do you have knowledge about the impact of digital technology on business?

  • Depth knowledge
  • Little awareness
  • Specific Knowledge
  • No awareness

Lo 3

P5 Data analysis

Theme 1 :Small medium size enterprise, the business of an organisation in which employees are working.

How will you define the business of an organisation in which you are working?

Frequency

Percentage

  • Medium size businesses

2

10.00%

  • Multinational company

3

15.00%

  • Small medium size enterprise.

15

75.00%

Total

20

Finding and analysis- It has been analysed from the above information that majority of respondents have knowledge about the nature , type and size of an organisation in which they are working. Out of 20 respondents, 15 participants understands the meaning of small medium enterprise.

Theme 2 :More than five years, company is running.

How long company is running ?

Frequency

Percentage

  • More than five years.

15

75.00%

  • Less than four year.

3

15.00%

  • Since one year.

2

10.00%

Total

20

Finding and analysis: Out of twenty respondent , 15 of them given an information that an organisation have been running for more than five year. This question has been included in order to judge the potential of firm related to implementation of digital technology and facilitating innovation.

Theme 3: Yes, Continental Consulting Limited utilised the digital technology for performing the routine business function.

Does Continental Consulting Limited utilised the digital technology for performing the routine business function?

Frequency

Percentage

  • yes

16

80.00%

  • No

3

15.00%

  • Don't know

1

5.00%

Total

20

Finding and analysis: From the above information , it has been analysed that many of the respondent has provided information that Continental Consulting Limited utilised the digital technology for performing the routine business function. By using the digital technology in routine function , an organisation can yield various benefits.

Theme 4:Information system, is digital technology is presently used by firm.

What type of digital technology is presently used by firm?

Frequency

Percentage

  • Inform nation system

14

70.00%

  • Telephone system

3

15.00%

  • Computer

3

15.00%

Total

20

Interpretation : It has been interpreted from above information that information system is digital technology is presently used by firm. This means that company is utilising advance technology which has supported an enterprise in fostering growth. Technology has supported firm in fostering growth . It has allowed business venture to facilitate innovation and increase sales.

Theme 5: Employees are Completely agree, with the fact that digital technology assist business entity in fostering growth and encourage an organisation to facilitate innovation.

How much agree you are with the fact that digital technology assist business entity in fostering growth and encourage an organisation to facilitate innovation?

Frequency

Percentage

  • Completely agree

13

65.00%

  • Partly agree

4

20.00%

  • Completely disagree

3

15.00%

Total

20

Finding and analysis- It has been analysed from the above information that majority of respondent have shown their agreement with the statement that with the fact that digital technology assist business entity in fostering growth and encourage an organisation to facilitate innovation.

Theme 6:Enhancing customer service. Is the purpose, an enterprise presently utilising digital technology.

For what purpose an enterprise presently utilising digital technology?

Frequency

Percentage

  • For recruitment

4

20.00%

  • Improving inter departmental communications

3

15.00%

  • Enhancing customer service.

12

60.00%

  • Other

1

5.00%

Total

20

Finding and analysis: It has been analysed from the above information that Enhancing customer service. Is the purpose, an enterprise presently utilising digital technology.

Theme 7:Positive, impact digital technology have on business growth.

What impact does digital technology have on business growth?

Frequency

Percentage

  • Positive

15

75.00%

  • Negative

3

15.00%

  • Both

2

10.00%

Total

20

Findings -It has been concluded from the above information that digital technology have positive impact

Theme 8:Accounting system is the most useful effective technology.

Among the following which is the most useful effective technology?

Percentage

Percentage

  • Accounting system

14

70.00%

  • Computer software

4

20.00%

  • Inventory control software

2

10.00%

Total

20

Finding and analysis : It has been concluded from the above data or information that Accounting system is the most useful effective technology.

Theme 9: E-mail , is the types of digital technology company is using for facilitating communication.

What types of digital technology company is using for facilitating communication?

Frequency

Percentage

  • Skype

5

25.00%

  • E-mail

12

60.00%

  • Telephone system

2

10.00%

  • Video Conferencing

1

5.00%

Total

20

Interpretation: Above information has represented that E-mail company is using for facilitating communication. It is recommended to organisation that business entity should use new or modern device for facilitating communication.

Theme 10:Little awareness employees have about impact of digital technology on business.

How much knowledge or awareness do you have knowledge about impact of digital technology on business?

Frequency

Percentage

  • Depth knowledge

5

25.00%

  • Little awareness

13

65.00%

  • Specific Knowledge

2

10.00%

  • No awareness

1

5.00%

Total

20

Interpretation: It has been analysed from the above information that the majority of respondent have little knowledge about the digital technology and its impact on business which is major issue for concern by management.

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P6 Communicating appropriate recommendations as a result of research and data analysis

It has been concluded by conducting the investigation that digital technology if implemented at right place within an enterprise, can support business entity in yielding maximum benefit. Scholar has suggested manager to develop suitable plan as well as design the appropriate strategy for implementing the digital technology at workplace. Firm should facilitate innovation utilising the digital technology. As this strategy will support business venture in achieving success and fostering growth. It will also help an organisation in increasing sales and profitability. It is required by human resource manager to provide workers with technical training. As this strategy will help business venture in increasing working efficiency ass well as rising productivity.

Lo 4

P7 Reflection

By executing the investigation procedure I have captured various learning opportunities which has helped me in my personal and professional development. I have also developed several skills as well as core competencies which I believe that will assist me in my career growth. Some abilities which I have improved during the execution of project are communication and analytical skills. I have also improved my presentation . By conducting the research on specific topic I have able to developed technical abilities. I have also learned lot of new things about digital technology and the way it effects the growth small medium enterprise. I have also planned that I will also use digital technology for gathering or accumulating facts which I perceive that will assist me In dealing with the issue of time. I have also learned about the strategies as well as techniques which can be implemented in order to generate more benefits or opportunities from digital technology. I have also gained knowledge about the several; methodologies and types of research. In addition to various skills , I have learned the techniques of managing people , risk and different activities during the execution of project. I have analysed that qualitative research method which is quite appropriate to meet the objectives and aims.

You may also like: Business Strategies Leading to Growth and Strong Position of Firm

REFERENCE

  • Smith, J.A., 2015.Qualitative psychology: A practical guide to research methods. Sage.
  • Leavy, P., 2016.Essentials of transdisciplinary research: Using problem-centered methodologies. Routledge.
  • Özerdem, A. and Bowd, R., 2016.Participatory research methodologies: Development and post-disaster/conflict reconstruction. Routledge.
  • Rose, G., 2016.Visual methodologies: An introduction to researching with visual materials. Sage.
  • Taylor, S.J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
  • Silverman, D., 2016.Qualitative research. Sage.
  • Taylor, S.J., Bogdan, R. and DeVault, M., 2015.Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
  • Wartella, E., and et.al. 2013. Parenting in the age of digital technology.Report for the Center on Media and Human Development School of Communication Northwestern University.
  • Hermsen, S. and et.al., 2016. Using feedback through digital technology to disrupt and change habitual behavior: A critical review of current literature.Computers in Human Behavior.57. pp.61-74.
  • Nambisan, S., 2017. Digital entrepreneurship: Toward a digital technology perspective of entrepreneurship.Entrepreneurship Theory and Practice.41(6). pp.1029-1055.
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