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Unit 2 Managing Successful Business Project

16 Pages 4050 Words 238 Downloads

Introduction

Due to globalisation of business activities large numbers of digital technologies are emerged on continuous basis. The development is takes place in the technologies of different areas which are considered as the important part of organisation such as HR, production, Accounting, Administrative etc. Implementation of innovative technologies within the organisation provides extra edge to their regular activities which improves their internal strength. There is hue role is played by the innovation in the expansion plan of organisation. It also provides the opportunity is to build effective organisation structure which is flexible to adapt automatically as per the factors which are present in business environment (Barak, 2016). River Island is high street fashion brand organisation which was established in London UK.

In the present report explain about target behind implementation of digital technology, formulation plan regarding management of the project and designing of work break down structure and Gantt chart for the guidance of employees and timely completion of project. Also, conduct research and collection of information through application of primary and secondary methods and recommendations to improve processes better to attain effective results.

Task 1

P1 Aims an objectives of research

In this modern era, taste and demands of consumers are changing continuously. Regarding this, it is necessary for an organisation to use advanced technology as well as machineries. With the help of this organisation can fulfil demands or needs of consumers in an effective or better manner. In addition to this, development in machineries as well as technologies give different opportunities through which organisation can develop strong customer base. In this, cloud computing plays a necessary role in business for manage and also share information for other plan in an efficient manner. With the help of digital technology, River Island organisation can communicate with its staff members in an easy manner and share with them all information. At market place, there are many digital tools available through which firm can communicate with its consumers in an easy way.

Topic: “How digital technology impact on business activities”. A Case study on River Island.

Background of project

In every business firm, digital technology plays a necessary role and helpful in increasing effectiveness as well as efficiency of business sin better manner. In addition to this, it is necessary for an organisation us to adopt and also implement new technologies which may be lead in enhancing profit level at competitive market. Digitalisation assess in providing many effective opportunities under which firm can easily increase its growth rate and productivity. Change in obsolete technology develop positive affect on business. It is a primary responsibility of an organisation to provide effective quality of goods which can satisfy requirements of products in an effective or better manner. Advanced technology is helpful in removing the risks and protect necessary information from any kind of hacking. In context to this, it is necessary for to develop better objectives or aims before implementation of the final project which can helps in make improvement in performance of River Island organisation (Wellin, 2016).

Aims: “How digital technology impact on business activities. ” A Case study on River Island.

Objectives:

  • To determine advantages of digital technology in increasing business performance of River Island.
  • To identify effectiveness of digital technology on operations of business.
  • To examine execution of digitalisation on whole business activities.

Questions:

  • What are advantages of digital technology in increasing business performance of River Island?
  • What are effectiveness of digital technology on operations of business?
  • How River Island can execute digitalisation on whole business activities?

P2 Project management plan

Project management plan refers to formal document which aid in identify to monitor as well as execute project in a better or effective manner. Generally it explains over all summary which consist information or data about the whole research as well as activities in context to examine the positive results. Developing project management plan plays an essential role in business for achieving set objectives or aims. It is helpful in proper right direction to manager and implement all research activities in a systematic way. With the help of preparing an effective project management plan, River Island firm can achieve its aims and objectives with in a specifies period of time. Under management plan, there are many different activities included which aids manager at the time of implementation of activities. It is essential for firm that at the time of developing management plan, manager should use different factors like for an instance Scope, cost, time frame, communication, risk and resources and some others. It will be helpful in achieving long term advantages and through this organisation can make improvement in its performance level. Some necessary factors are given below as above:

Scope of project: This component indicates areas under which project needs to be implemented and also major activities to be involved in this. It is necessary to identify scope of project in a better manner for evaluate affect of digital technology on business activities. It gives basis for an interpretation of data and take beneficial decisions.

Quality control: Failure and success of project is based on the quality. In order to attain decided goals, it is essential for an organisation to focus on producing better quality of goods in an effective manner.; If quality will be good then it will provide advantage to firm.

Cost: It is necessary component for every project. If cost of project will be high then in this case there will be more funds arrange through River Island for equipments and technology. In addition to this, fund is necessary for implementing project in better manner. It is analysed that estimate cost of $ of 2500 should be borne by organisation (Bucero and Englund, 2015).

Time: Under this, it is necessary for manager to set proper time on the basis of activities are involved in project. With the help of this staff members will able to finish activities in decided period of time. In context to this, timely execution of activities are helpful in minimizing unnecessary cost in better way. In completion of all the activities, project will be taken around 6 to 8 months.

Risk; and resources management:; IN order to complete project, there is a need of many necessary resources. Funds as well as staff members are main resources which are necessary in carried out an investigation in proper manner. If resources will be lack then they will develop delays and reduce efficiency of project. Necessary resource which are necessary in project are staff members, funds, technology, equipments and many others. On they other hand risk affects on business in negative manner and it is not beneficial for business. In addition to this, it is a responsibility of manager to determine risk and gain many advantages.

Communication: IT is a necessary elements which requires at every stage and in any work. For finishing all activities or project in better manner, it is necessary that at workplace there should be proper coordination as well as communication among employees and supervisors. Effective and also correct communication tool should be used through River Island to interact with the order parties and also give contribution towards achieving the set organisational goals with in specific period of time (Burns, 2016).

P3 Designing of Work break down structure and Gantt chart

Task 2

P4 Application of qualitative and quantitative method of research

Research is an important activity which has main purpose is to improve the knowledge of the researcher about the topic regarding which information is gathered from different sources. There are many methods are available which can provide their contribution in process of research are called as qualitative, quantitative and analytical. It is the responsibility upon the researcher is to identify the best option after analysing the nature of their research. As the different options of research have different features and importance. So, to grab the accurate and reliable results need to analyse most appropriate method as per requirement. Also two different methods are available which are used for collection of data which are known as primary and secondary. River Island wants to assess the impact of digitisation upon their business activity and its contribution in the improvement of the performance of different important areas such HR, Accounting, Administration and production. Their main is to collect the sufficient information bring changes to attain optimum results. Qualitative method of research is important to grab the information through the behaviour, gestures, emotions and attitudes. On the other hand, quantitative method provides the opportunity is to grab the information in quantitative from through which reliable results are derived (Chih and Zwikael, 2015).

Primary research method: It is data collection method which is used by the researcher in the case of collection of more authentic information which is directly related to research aspects. The information is gathered from the respondents directly through asking their views and feedbacks. The results and conclusion are true because no bias is involved in whole process. There are many techniques which can be used to carry the process of data collection under this method includes interview, questionnaire and online. These techniques are defined along with their roles and advantages below:

Interview: This includes face to face conversation with respondents. Here, researcher asked different questions to the respondents and in return answer are recorded which are provided by them. The main advantage which is associated with the use of this method that provides deep information about the questions.

Questionnaire: Another important technique which includes formulation of document including different research based questions. The questionnaires also are of two types such as open-ended and close-ended. Open ended questionnaire is such which provides the option regarding framing of their own answers and on the other hand, close-ended questionnaires are having different options.

Online: This method includes collection of information through application of the provisions of digital platform such as websites and social media. Here, the information is collected on the basis of the ratings and poll provided by users as per their choice.

In the present report, management of the River Island decided to use primary method for collection of data through formulation of questionnaire. Here, 10 different questions are prepared to analyse the impact of digitisation on business activities and the different advantages which are grab by the organisation (Coombs, 2015). There is huge role is played by the collected information in the improvement of the decision making of management of organisation. Also, through application of Random sampling method 40 respondents are selected to carry research activities.

Questionnaire

Name

Age

Gender

Q1. Do you think digitisation is important to attain sustainability in future period of time?

  • Yes
  • No

Q2. Does profitability of River Island is increased after digitisation?

  • Agree
  • Disagree

Q3. What is the best mode for growth of the business activities of River Island?

  • Online platform
  • Cloud technology
  • Wireless networks

Q4. Does implementation of innovative technology helps to improve HR, Accounting and Administrative aspect of River Island?

  • Yes
  • No

Q5. What is the overall impact of digitisation upon working of River Island?

  • Negative
  • Positive
  • Can’t say

Q6. Does digitisation helps to improve marketing activities of River Island?

  • Agree
  • Disagree

Q7. What aspect resists more in the process of implementation of digital technology in River Island?

  • Employees
  • Lack of management
  • Availability of funds

Q8. Does adoption of innovative technologies within River Island helps to reduce Red Tapism?

  • Yes
  • No

Q9. Does Digitisation contribute to River Island to capture large market share?

  • Agree
  • Disagree

Q10. Provide own suggestion for effective use of digital technology within River Island to attain maximum results?

Secondary data: This method is used to ascertain the information about current performance and positioning of River Island in market. This will provide the manager is to gain knowledge about the effectiveness of their products and services. Such information is collected with the help of different sources like articles, magazines and newspapers. Information which is gathered is known s second because it is already published there and collected to grab their position in market (Verzuh, 2015).

  • At first, management of River Island is decided to bring innovation in their business conducting techniques and processes to cope with current market trends and improvement of their profitability.
  • Secondly, aim of River Island is to provide diversified fashion items to satisfy the different preferences of customers. For this purpose, social media is used to grab their preferences and views about quality of their products. It helps to create effective communication with them.

Therefore, in this regard they stared to conduct business operations through use of online plat form where their different fashion products are available for customers. This will help to expand their operations in vast area and building positive market image (Duffield and Whitty, 2015).;

P5 Application of effective tools and techniques

It includes the process of presentation of the information which is collected by researcher so, effective interpretation is made to draw valid conclusions which helps in improvement of decision making.

Theme 1 Digitisation contributes to attain sustainability

Q1. Do you think digitisation is important to attain sustainability in future period of time?

;

Frequency

Yes

25

No

15

;

;

Interpretation: It is observed from the above graph that 25 respondents agree that to attain long term sustainability need to adopt digital technology while 15 are against of the statement.

Theme 2 Digitisation helps to profits of River Island

Q2. Does profitability of River Island is increased after digitisation?

;

Frequency

Agree

30

Disagree

10

;

;

Interpretation: It is interpreted from the above graph that Profitability of River Island in increased after digitisation as per view of 30 respondents out of 40. But 10 are not satisfied and said it increases their cost.

Theme 3 Best mode to expand business operations of River Island

Q3. What is the best mode for growth of the business activities of River Island?

;

Frequency

Online platform

22

Cloud technology

10

Wireless network

8

Interpretation: It is analysed from the above graph that Online platform is best to grow in future. 22 respondents are in favour of this option.

Theme 4 Contribution of innovative technology in the development of important aspects

Q4. Does implementation of innovative technology helps to improve HR, Accounting and Administrative aspect of River Island?

;

Frequency

Yes

24

No

16

;

;

Interpretation: It is observed from the above graph that digitisation improves HR, Accounting and administrative activities of organisation and with that fact 24 respondents are satisfied.

Theme 5 Contribution of digital technology upon whole organisation

Q5. What is the overall impact of digitisation upon working of River Island?

;

Frequency

Negative

10

Positive

25

Can’t say

5

Interpretation: It is attained from the above graph that implementation of digital technology has positive impact upon River Island which is assess according to the views of 25 respondents out of 40.

Theme 6 Impact of digitisation upon marketing activities

Q6. Does digitisation helps to improve marketing activities of River Island?

;

Frequency

Agree

28

Disagree

12

;

;

Interpretation: It is interpreted from the graph that 28 respondents said marketing activities of River Island is improved after digitisation. But 12 are not satisfied with this statement.

Theme 7 Factors which resist to implement digitisation

Q7. What aspect resists more in the process of implementation of digital technology in River Island?

;

Frequency

Employees

15

Lack of management

10

Availability of funds

15

Interpretation: It is gathered from above graph that Employees and funds are such factors which resist change to adopt effectively within the organisation.

Theme 8 Contribution of digitisation in reduction of Red Tapism

Q8. Does adoption of innovative technologies within River Island helps to reduce Red Tapism?

;

Frequency

Yes

22

No

18

;

;

Interpretation: From above graph attained that as per views of 22 respondents Red Tapism reduces after adoption of digital technology but 18 respondents have different opinion.

Theme 9 Contribution of digitisation about capturing of market share

Q9. Does Digitisation contribute to River Island to capture large market share?

;

Frequency

Agree

26

Disagree

14

;

;

From above graph interpreted that large market share is attained with the help of digital technology according to the views of 26 respondents.

P6 suitable Suggestions

River Island has already established business and good brand image in market according to those not big changes are requited make in organisation structure. To attain their aim about providence of their products and services through online mode, need to use effective tools and techniques which help to accomplish targets. It is also suggested to the management of organisation is to become more active and use effective method of communication for effective transfer of information from one department to another. This helps to attain coordination and support of each other. Through this they can easily achieve large market share as communication improves performance and online platform improves their reach towards market. Also, recommended that to implement cloud technology which assists the administration department to record different information at one place which is easily retrieved whenever necessary. It saves lots of time and energy which should be used on other productive activity (Eriksson and Kovalainen, 2015). Through adoption of such recommendations many benefits are attained such as high market share, more profits, large customer base etc.

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P7 Reflective

Research is conduct be me to ascertain the impact of digital technology upon the overall business of River Island. But there are many difficulties are faced regarding time and cost. Due to having the less amount of time only 40 respondents are selected by me from total population to draw the conclusion about the research topic. In this regard, I use random sampling method and close ended questionnaire is made with 10 different questions which saves the time. On the hand, there is difficulty of budget which shows less amount funds are available to carry research activities. So, I also use secondary methods to collect the information about current position of organisation and their current product and services in market. It also assist to draw important result through which they can effectively accomplish their target (Lientz and Rea, 2016).

Conclusion

It has been concluded from the above report that for effectively grab the results through implementation of digital technology need to made their aims and objectives which provides direction while performing functions. Project management plans is outline of project which improves overall process of implementation of digital technology with effectiveness. Research plays an important role in improvement of decision making of River Island about the benefits which they gathered after adoption of digitisation in organisation like continuous growth and high profits.

References

  • Barak, M. E. M., 2016.;Managing diversity: Toward a globally inclusive workplace. Sage Publications.
  • Bucero, A. and Englund, R. L., 2015, October. Project sponsorship: Achieving management commitment for project success. Project Management Institute.
  • Burns, P., 2016.;Entrepreneurship and small business. Palgrave Macmillan Limited.
  • Chih, Y. Y. and Zwikael, O., 2015. Project benefit management: A conceptual framework of target benefit formulation.;International Journal of Project Management. 33(2). pp.352-362.
  • Coombs, C. R., 2015. When planned IS/IT project benefits are not realized: a study of inhibitors and facilitators to benefits realization.;International Journal of Project Management. 33(2). pp.363-379.
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