In this era, every firm has kept its focus on growing itself in today's worst business conditions. Digital technology has been taken as an opportunity which is leading organisations to perform well. That is the reason, most of companies have started using this so that it may aid them in reaching to an all new level where they may sell its products and services or merchandise them with an ease (Laudon and Laudon, 2016). Digital technology can be defined as the transformation of various actions and approaches that led firms to become much more accessible or viable for businesses. This technology could help in engaging talented employees across the company and driving new, profitable business models. All of these are some of factors that may aid a business firm in enhancing profit margins right on time or growing with an ease in today's competitive world.
Enpark which is a business park i.e. facilitating overall growth of energy and helping environment of businesses all across the middle east. It consists with business friendly laws and rules and have given quick access to workers due to fast tract immigrating process. Apart from this, Enpark have kept its focus on engaging partners in pilot projects along with this it develops campaigns as well so that stimulation among growth can easily be seen within the industry.
In past few years, there are a number of challenges came in front and faced by Enpark related to volatile oil prices, energy based security concerns along with continuation among threat associated with climate change have made the race to develop alternatives to conventional fossil fuels far more urgent. Here, it is required for this organisation to develop campaigns as per the requirements so that environment could easily be developed right on time.
To analyze the concept of digital technology.
To identify the main benefits of digital technology.
To identify the implications of digital technology on business growth.
To determine the major challenges faced by implementing digital technology.
How to analyse the concept of Digital technology?
What are the ways to identify the main benefits of Digital technology?
How to identify the impact of Digital technology on business growth?
What are the ways to determine the major challenges faced by implementing Digital technology?
This is being considered as an effective approach which may help a researcher in drawing favourable outcomes. Here, article and other kind of methods are being used on set topic so that investigation can get conducted right on time. Apart from this, investigator mainly collects reliable data through considering viewpoints of different authors, scholars and through considering different point of views as well as opinions of various authors (Johnson and et. al., 2016). In present context, investigator could use various secondary sources like books, journals, and articles.
Concept of Digital technology
According to Singh and Hess, (2017), digital technology is being considered as an effective tool that consists of different types of various electronic equipment which is being used by business organisations or by individuals as well. Data mainly gets transmitted considering binary code which only shows 1 and 1 numeric characters. Some of electronic gadgets uses digital information which consists with a number of items and these are computers, calculators, auto mobiles, traffic light controllers, communications satellites, cellular telephones, compact disc players, high-definition television sets, and so on.
Main benefits of Digital technology
As given by Foss and Saebi, (2017), digital technology has given ample number of benefits to both individuals and business organisations as well and these are given beneath:
One of the main benefit is that it aid in building effective communication among the organisation, employees and consumers as well in all over the world.
With the help of this, communication among a company and its customers can be done in much effective and efficient manner.
With the help of digital technology helps in increasing connectivity options mean that many people now have far more opportunities for working from home, as remote working becomes increasingly common.
Impact of Digital technology on business growth
As mentioned by Sekaran and Bougie, (2016), Digital technology have impacted in both positive and negative manner on a business organisation. Mainly, it generated digital economy which is totally based upon IT. With the help of new kind of economy, it has helped business firms in making effective and attractive growth opportunities for business firms that are dealing at small, medium and large scale. On the other hand, digital technology's development today is being valued something very important because internet is being used by most of public in modern world. Therefore, it is aiding business firms in growing with full speed through reaching to customers doors with the help of internet.
Major challenges faced by implementing Digital technology
According to Trainor, (2012), there are ample number of challenges can be faced by an organisation at the time of implementing digital technology. These are given beneath:
Organizational Culture- A Hindrance To Change :
This is being considered as one of major challenge which can be defined as a barrier because, employees do not likes to adopt changes and this is because of fear of new.
Change Is Expensive :
Another crucial challenge which impacts upon over all profit margins when a company decides to transforming or developing the organisation or making it digitalised. A small firm cannot afford regular changes and this could lead them to face issues as well.
Resource Availability :
At the time of making a firm digitalised, it is may be possible that a company do not consists with right resources for implementing the change.
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Henceforth, these are some challenges which can be taken as something which might create issues for a business firm.
Research methodologies are being considered as an effective system which is linked with specific topic, developing a proposal, defining it, examining data, assembling takes place of a circumstantial subject (Weigelt and Sarkar, 2012). It consists with different methods, techniques, which may aid an investigator in drawing favourable outcomes right on time. Some of factors that this section of investigation covers are given beneath:
Types of investigation
Quantitative method – Quantitative investigations find relationship between independent and dependent variables. It is in numerical form for which statistical methods are used. Data is in structured form, results can be duplicate, study is done by keeping all aspects of study. Tools such as computer software or questionnaires are used to collect numeric data.
Qualitative method- Qualitative investigations deals with logics, perceptions and ethics of public. On the basis of assumptions, these investigations focus on convergent reasoning rather than divergent reasoning (Weisberg, 2011).
Researcher used qualitative method as it focussed in detailed analysis of problem and it was theoretical. It provided a wide scope to find solution to research problem.
Descriptive design- Questions like when, where, who what and how are answered in context to particular research problem. Current conditions with respect to existing conditions are analysed and information is provided with respect to that.
Experimental design- In this design blueprints of procedure are made to control factors which can affect result. Researcher predict what can occur as result of experiment. Results obtained from design are not generalised in-fact they are artificial. Blueprints are made in context to research problem to handle factors influencing results or overall impact on research. Assumptions are made by researchers that particular experiment will lead to specific result. Results are artificial and are not in generalised form.
Another crucial factor which plays an important role within an investigation, this approach provides possibilities of explanation of casual relationships between variables and concepts, concepts are measured quantitatively and research is generalised to some extent.Approaches can be deductive, abductive and inductive and it is required for investigator to focus on aim on which they are focusing at the time of adopting an approach. In present investigation, investigator have used deductive approach for conducting the investigation (Wiengarten and et. al., 2013).
Data and sampling
Sampling consists with two different methods and these are probability and non-probability sampling which is enclosed with random sampling, systematic, cluster sampling and so on. Here, random sampling method have used and researcher is using 30 respondents for reaching on a conclusion.
Researcher while conducting this investigation, has kept its focus on using minimise risk approach so that no harm to any belief, act or anything takes place. Confidentiality and anonymity are some of factors on which investigator and developed rights as well to withdraw favourable objectives (Zhang and et. al., 2011).
Time plays a crucial role for every single research so that it can get completed right on time. When it comes to manage time, it is required for investigator to focus on activities, and then take in consideration of Gantt chart. In this chart, series of the horizontal lines are show work amount in certain time period in context to activities are planned in those period of time (Zhou and Li, 2012).
With the help of above mentioned report, it is being concluded that researcher needs to use right approaches and methods so that outcomes can easily be drawn in specific time frame. Apart from this, it is also necessary for company to implement digital technology so that to become effective in present business world. This could aid them in attaining specific goals and objectives in much effective and efficient manner.
Laudon, K. C. and Laudon, J. P., 2016. Management information system. Pearson Education India.
Johnson, L. and et. al., 2016. NMC horizon report: 2016 higher education edition (pp. 1-50). The New Media Consortium.
Singh, A. and Hess, T., 2017. How Chief Digital Officers Promote the Digital Transformation of their Companies. MIS Quarterly Executive. 16(1).
Foss, N. J. and Saebi, T., 2017. Fifteen years of research on business model innovation: How far have we come, and where should we go ?. Journal of Management. 43(1). pp.200-227.
Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach. John Wiley & Sons.
Trainor, K. J., 2012. Relating social media technologies to performance: A capabilities-based perspective. Journal of Personal Selling & Sales Management, 32(3), pp.317-331.
Weigelt, C. and Sarkar, M.B., 2012. Performance implications of outsourcing for technological innovations: managing the efficiency and adaptability trade‐off. Strategic Management Journal. 33(2). pp.189-216.
Weisberg, M., 2011. Student attitudes and behaviors towards digital textbooks. Publishing Research Quarterly. 27(2). pp.188-196.
Wiengarten, F., et. al., 2013. Investigating the impact of e-business applications on supply chain collaboration in the German automotive industry. International Journal of Operations & Production Management. 33(1). pp.25-48.
Zhang, X., and et. al., 2011. Does ICT influence supply chain management and performance? A review of survey-based research. International Journal of Operations & Production Management. 31(11). pp.1215-1247.
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