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Managing a Successful Business

15 Pages 3667 Words 578 Downloads

Introduction

Digital technology is an advance form of technology which simplifies work procedures of employees and contributes in improving profitability of business organisation. Cloud technology is a part of technology, which creates virtual space for users in which can be used by them for  storing relevant information or data. This technology is beneficial for all level of organisation whether they belongs to large or small scale. This report is based on JS Supermarket, which is a small scale retail store based in London, United Kingdom. The store mainly offers products related to food and beverages to its customers. Present assignment provides brief discussion about research which have been conducted for chosen company in order to satisfy its aims and objective. The research will include different methodology by which required information can be collected in effective manner.

TASK 1

P1 Aims and objectives

Cloud technology is the advance form of technology which helps organisation in storing its data for longer period of time. This technology develops additional space for its customers in the form of cloud where they can store important data. This research is going to be conducted for   JS Supermarket which is a small scale retail store. This supermarket was established in 2014 by Ramchandran Jalatheepan. It only offers food and beverage products to its customers. It can be said that adoption of Cloud technology will be beneficial JS Supermarket as this company can store essential information of its customers, employees, sales record, financial details in clouds with the help of internet. This will help in storing previously stated information of customers for longer period of time without thinking about occupancy of space. It will also contribute in enhance business growth of JS Supermarket.

Background of research

 As per the present status of JS Supermarket, the company is growing faster as its sales is increasing. But, presently the company is using hardware systems in order to store all of its data. With the increasing sales, the company requires more space so that its employees can store essential properly for long period of time without missing even single information. In this regard,  top management team of JS Supermarket have planned to implement cloud technology at workplace so that each and every detail related to sales and business activities can be stored properly. It can be said that  after implementation of cloud technology in JS Supermarket, it will going to be easier for this company to store all its information. It will also simplify work of employees as this technology is very simple to use. As a result, employees can place these saved effort in some other core areas where they can put additional effort in achieving their targeted goals and objectives. This will directly enhance business growth of JS Supermarket.

Research Aim

To determine the impact of cloud technology in improving business growth of an organisation” A case study on JS Supermarket.

Research Objectives

  • To identify the concept of cloud technology
  • To evaluate different ways by which JS Supermarket can maximise its growth.
  • To identify importance of cloud technology in business growth of JS Supermarket.

Research Questions

  • Explain the concept of cloud technology?
  • What are the different ways by which JS Supermarket can maximise its business growth?
  • What is the importance of cloud technology in business growth of JS Supermarket?

P2 Project Management Plan

It is a formal document that mainly includes project goals, scope and budget. Sum of all these define the manner in which project is required to be executed and controlled. It is essential for every business to make effective project plan to execute their activities more efficiently and achieve specific goals and objectives in best way. Mentioned below there is an there is detailed execution of project:.Here you can get best law assignment help.

Cost: Cost is seen as the essential component which helps researcher in buying all  required equipments to complete research in effective manner. In order to implement Cloud technology in JS Supermarket, the company will require around 10K. Whereas, for this research, investigator will need approximately 5K to complete it in a effective manner.

Time: It is essential that researcher conducts research in a manner that all the activities of project are completed in a timely manner. The time for executing this project is 6 months. Also, it is ascertained that company will bring cloud technology within a time frame of 3 months to gain an edge over its competitors in the long run.

Scope: As this is a small scale company, it is essential that project manager ensures that the objective of implementing cloud technology is achieved. This is done so as to gain the attention of customers towards the enterprise. The scope of this research is large as it is concerned with studying about impact of cloud technology upon growth of business. 

Communication: To effectively execute cloud technology within organisational premises, it is important for managers to maintain efficient communication with employees as well as customers. Also, researcher needs to communicate with sources so as to gain relevant information.

Risk:  In this, company analyses the probable risks associated with implementation of cloud technology so that it can executed successfully. Researcher needs to ensure that the sources are reliable and valid and also that research is executed within assigned time.

QUALITY: It is essential for JS Supermarkets to make sure that cloud technology is brought within the organisation in an effective manner to gain desired results. Also, researcher needs to ensure high quality of information collected during research.

Resourecs: Under this, company needs to gather resources like adequate funds, human resources and technology to execute cloud technology within organisational premises. For researcher, resources are the sources from which information is collected like journals, books, magazines, respondents, internet etc.

P3 Work breakdown structure and Gantt chart

Work Breakdown Structure( WBS)

In order to conduct a research in appropriate manner, generally researchers use two major techniques- Work-break down structure and Gantt Chart. Here, WBS structure is used to divide major activities into smaller ones It is a hierarchical disintegration of overall work scope that is to be conducted by project team to achieve project objectives. With every descending level in work breakdown structure detailed definition of project has been represented. This structure divides complex level of project into a simple and manageable structure. Project manager take advantage of this method to make the process of project execution easier.

 In addition to this, it also classifies roles and responsibilities of each team-member in accomplishing a particular research. While Gantt Chart is used to frame each segmented activity or different responsibilities into a fixed time period. Thus, both techniques aid researchers to perform major activities of research in given duration more appropriately. In context with present research, for conducting the entire research on business project management on overseas product launch as per desired manner, near about 4 to 5 months have been taken by research team of Ted Baker. In this process, they have used proper techniques to complete each activity in predetermined period so that optimum utilisation of time and resource can be obtained.

In this regard, for identification of problem, research team of Ted Baker want 2 days. After then for formulating aims and objectives in appropriate manner, near about three days are required. For literature review and collection of data 5 days or 7 days are required respectively. Similarly, 15 days need for analysis of data and 3 days for drawing valid conclusion and make recommendation. Furthermore, for final submission of report one day is required.

TASK 2

P4 Research and different research methods

Research is a systematic investigation of various factors and sources to reach in new conclusion. It is mainly conducted to analyse a particular issue or a problem. It can be conducted in various possible ways like, surveys, questionnaire, magazines and observations.

Primary Research Method: In this method of data collection, researcher gathers information directly from respondent. It has been analysed that data collected from this method can be seen as first hand data as it provides highly authentic information. In this data can be collected by using different sources like Questionnaire, focus group, interviews field trials etc.

Secondary Research Method: In this, researcher collects information from the work which has been already conducted in past. Investigator often prefer to adopt information from  previous researches which have been conducted by some other researcher. This kind of method is best suitable when researcher have last time to complete the research without compromising with its quality. Secondary sources of data collection includes  books, journals, magazines, newspapers, online article etc.

Quantitative Research Method:

Qualitative Research Method:It is a type of market research that mainly includes personal feelings and opinions of different consumers. This type of research can be done in various ways such as face to face interviews or part of focus groups.

Questionnaire

Q 1) Are you aware with the concept of Cloud technology?

a) Yes

b) No

Q 2) What are the different ways by which JS Supermarket can maximise its business growth?

a)

b)

c)

Q 3) Do you JS supermarket can maximise its profitability by adopting cloud technology?

a) Yes

b) No

Q 4) What kind of response JS Supermarket will face after adopting cloud technology at workplace?

a) Positive

b)  Negative

Q 5) Do you think usage of cloud technology will improve business growth of  JS Supermarket?

a) Yes

b) No

Q 6) Do you think, JS Supermarket should enhance its product portfolio?

a) Agree

b) Disagree

Q 7) DO you think JS Supermarket really requires to adapt new technology?

a) Agree

b) Disagree

Q 8) According to you which department will going to affected the most by implementing cloud technology in JS Supermarket?

a) Human resource

b) Finance

c) Operations

Q 9) Do you think adoption of cloud technology will create demand of training session at workplace?

a) Yes

b) No

Q 10) Provide some recommendation to JS Supermarket by which it can enhance its profitability.

TASK 3

P5 Data analysis

Theme 1: Concept of Cloud technology

Q 1) Are you aware with the concept of Cloud technology?

Frequency

a) Yes

12

b) No

8

 

Theme 2:  Different ways by which JS Supermarket can maximise its business growth

Q 2) What are the different ways by which JS Supermarket can maximise its business growth?

Frequency

a) Adopting latest technology

9

b) Providing training sessions to their employees

6

C) Increasing its product portfolio

5

 

Theme 3:  JS supermarket can maximise its profitability by adopting cloud technology

Q 3) Do you JS supermarket can maximise its profitability by adopting cloud technology?

Frequency

a) Yes

11

b) No

9

 

Theme 4:  Response JS Supermarket will face after adopting cloud technology at workplace

Q 4) What kind of response JS Supermarket will face after adopting cloud technology at workplace?

Frequency

a) Positive

15

b)  Negative

5

 

 

Theme 5:  Cloud technology will improve business growth of  JS Supermarket

Q 5) Do you think usage of cloud technology will improve business growth of  JS Supermarket?

Frequency

a) Yes

14

b) No

6

 

Theme 6:  JS Supermarket should enhance its product portfolio

Q 6) Do you think, JS Supermarket should enhance its product portfolio?

Frequency

a) Agree

13

b) Disagree

7

 

Theme 7:  JS Supermarket really requires to adapt new technology

Q 7) DO you think JS Supermarket really requires to adapt new technology?

Frequency

a) Agree

11

b) Disagree

9

 

Theme 8:  Which department will going to affected the most by implementing cloud technology in JS Supermarket

Q 8) According to you which department will going to affected the most by implementing cloud technology in JS Supermarket?

Frequency

a) Human resource

7

b) Finance

7

c) Operations

6

 

Theme 9:  Adoption of cloud technology will create demand of training session at workplace

Q 9) Do you think adoption of cloud technology will create demand of training session at workplace?

Frequency

a) Yes

15

b) No

5

 

P6 Recommendations

According to the evaluation of overall research, it has been analysed that implementation of cloud technology is going to be best decision for this company as they can easily rectify their problem of data  storage. On the basis of this research, there are few recommendation which will helps JS Supermarket in improving their business growth. These recommendations are defined as  below:

  • It has been suggested to management team of JS Supermarket to conduct regular based training session for employees so that they can understand usage of cloud technology. As a result, these employees will be able to use this technology effectively in future.
  • Further, it is advised to JS Supermarket to adapt some more form form of digital technology like social media, internet of things, mobile technology etc. in order to maximise their sales by reaching maximum number of customers.
  • JS Supermarket should increase its product range in its store so that customers can get products as per their wish. A good product range enhances interest of customers  in their store as they can buy product of their choice. As a result, it will enhance sales of the JS Supermarket which will also maximise profitability ratio of company.

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TASK 4

P7 Reflection

My overall journey in the process of conducting this research was quite tizzy and enjoyable. While conducting this research I got changes to meet my seniors four times and extract some practical support from them related to gathering information, numerous discussion has been done on research approach and formation of research objectives.  Time allotted to complete this research was  approximately 4  months which was bit less so I have taken the help of secondary method to gather data and information. I used financial statements, textbooks and information published on company official websites and newspapers.  I have taken the advantage of chart to analysing every subject of my research in described way. It is sure that all the above mentioned information in my research is correct as I have taken use of secondary method in my research. While doing my research I had make sure that I have completed by goals and objectives with effective tools and techniques in a efficient time frame to maintain the quality of the research.

Conclusion

As per the above mentioned report, it has been concluded that globalisation is an integrated process by which business organisation operate their functions on international scale. This results in creating an effective environment in which there is an increase in volume of cross border transactions. This will aid company to maximise their capital flow and create strong brand image on international level. Managing business in a successful way is quite tricky it includes formation of formative policies which directly benefits in performance evaluation of business project. Establishment of aims and objectives will help in assessing project in effective time frame. An effective project management plan is also covered in this report which clarifies basic elements of project that include scope, time, risk and quality. A gantt chart and work break down structure are provide which aid in completion of research in effective time frame.

References

  • What are the two types of approaches in research?. 2019.
  • What Is Cloud Computing and How Does It Work?. 2019.
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