The objective of this report is to analyze the digital technological and its tools that can be implemented in business practices. The objective of such is to raise business profitability and productivity by analyzing organizational target objectives.
Digital tools and technologies is having a deep impact on the activities which are going in the company. They have brought a vast change in the way business is conducted. Earlier all the functions of the companies were conducted as per the traditional models but now it has been modified and organisations are more interested in doing all the activities in digitalized manner as they believe hat through this they will be able to gain more amount of profits in less time (Camisón and Villar-López, 2014). These technologies are also considered in trend and that is why it is being implemented by each and every company so that they can achieve high profitability and productivity in the company. Only, it is required to be made sure that these technologies should help the company to achieve their gains and objectives of the company.
TESCO plc is a multinational company which is doing their operations all around the world in an effective and efficient manner but there is scope of improvement in every company and TESCO can also bring changes in the company if they will implement new and innovative techniques in the company. For this, the organisation will have to go through a systematic process which the management will conduct so that changes can be brought in the company in an effective manner.
TASK 1
P1 Produce a research proposal that clearly defines a research question or hypothesis supported by a literature review
It can be said that there are so many tools and technologies which are being implemented in the business environment and because of these companies are achieving high amount of growth and profitability in the marketplace as well. Since there are so many kinds of technologies so companies can implement it as per their needs and wants as it is very essential for them to implement new and innovative technologies which matches with the activities performed in the company so that positive changes can be brought in the market. In context with TESCO, they are doing their operations all around the world and thus they need to find new and innovative ways to do their business so that all of their activities can be conducted in more proper manner.
It is a big sized company so their main purpose will be to gain more and more amount of profits so that they can earn more amount of profits and gain a strong customers base as well. These technological advancements will help them in taking more challenges and opportunities which are present in the marketplace so that they can achieve growth and development in an effective manner. TESCO plc is also thinking in a broad manner to implement new tools and technologies in the company so that growth can be achieved in the marketplace. Through this, they will be able to face the competition which is present in the market and compete with their rivals as well. With the help of technologies, TESCO will also be able to get to know about the needs and wants of the customers and they can make use of it to produce and gather products according to that itself.
It is very important for the companies to make use of innovative and creative technologies in the company because through this skills and abilities of the employees will be enhanced and issues which are present in the business will be solved by this as well. It is also required that the researcher should have proper knowledge about the topic and so that research project can be conducted in effective manner and goals of the company can be achieved as well (Epstein 2018). It is also considered crucial for every company to attract more and more customers towards their company so that they can gain maintain an appropriate image in the market. This will be effective for them in gaining more and more profits of the company in the marketplace as well. In TESCO plc, technologies can help them in segregating variety of their products as per the needs of the customers and they will not have to face any kind of trouble in searching for the products they want.
Research Aim
The essential aim for this particular research is - “To analyse the impact of applying new technologies in organisation and its effect on developing the productivity and profitability of the companyâ€. A case study on TESCO plc.
Research Objectives
The questions which are prepared for this research project are as follows:
- To ascertain the factors which help in applying new technologies in the company.
- To analyse the effectiveness of new technologies in improving the performance of the organisation
- To identify several issues which a company goes through while bringing new changes at the workplace
- To provide recommendations about the usage of digital technologies through which companies can gain higher productivity and profitability.
Research Question
- The questions which are being prepared in the research project are as follows:
- What are the ways to ascertain the factors which help in applying new technologies in the company?
- How to analyse the effectiveness of new technologies in improving the performance of the organisation?
- How to identify several issues which a company goes through while bringing new changes at the workplace?
- Provide recommendations about the usage of digital technologies through which companies can gain higher productivity and profitability?
Literature review
Literature review provide in depth knowledge and understanding of specific topic. For performing an effective research many things and factors are required.
Factors which will help the company in application of new and improved technologies
According to Hakansson (2014) says that, technology advances provides competitive advantages to the company. It helps in establishing a new and innovative process for conducting their activities in an efficient and effective manner. Technology adaptation is increasing day by day, so it is very necessary for company to adopt advance technology. Being a multinational grocery store Tesco PLC should adopt new technology which can help in enhancing their productivity and profitability. New technology will help company in many ways like in improving communication with stakeholders, providing better and enhanced services or products to potential consumers. There are some factors which company should consider while implementation of new and advance technology.
Conduct a need assessment: Company should first analyse the need for adopting or implementing the new and advancement technology. They should determine whether it will be a perfect solution for solving the existing problems or not. For this Tesco should determine that will it be successful in achieving productivity and probability as per the strategies made by them. The following are the factors which helps in adaptation of technology:
Inappropriate sales performance: Company needs to adopt advance technology to improve the sales performance because the present technology is not that much profitable for the company. Tesco has to adopt different technology which can help them to cater more and more clients for providing their products and services. They can use technology which can improve customer relationship management, collaborate entire sales team etc. It will improve and enhance their profitability of company.
Inefficiency in production process: Production process of company depends upon the technology used by the company. If manufacturing process is effective and efficient then it will provide good quality of goods and services to consumers at lower cost (Jones, 2013). Company needs to change this process when it is not profitable for company and producing small number of units at higher cost to company. In this case Tesco needs to adopt such technology that can give them high quality of product at economic rate. Technology helps company to use rare resources in an effective manner and assist in achieving economies of scale.
Hence, all above mention factors will help Tesco to identify needs for adopting and implementing advance technology.
Analysing the effectiveness of new technologies in improving its performance in the market?
According to ÄŒuÄÂÂek, KlemeÅ¡ and Kravanja (2012) says that, performance of company plays an important role in success of the company. Good and efficient performance of organisation helps in accomplishing the goals and objectives in a productive and profitable manner. It is a key for maintaining a successful enterprise. Performance of a company depends upon the technology and processes adopted by company or management. It has benefits in improving performance like it provides open communication environment, motivates employees by adding skills and knowledge, analyse performance and keep track on it. This will help workforce of company to use their full potential for giving best and high level of output. All these factors will help in improving productivity as it engage employee, increase loyalty among subordinates and make them productive. Technology has the following roles in improvement of business performance:
Access to information: Employees need a lot of information for performing their roles and responsibilities in an efficient manner which increases performance of business. For this technology will help Tesco to implement such network which can create effective flow of required information to all employees. This will assist in building employee engagement and they will provide better services to their customers by having enough information to satisfy them.
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