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Unit 3 Business and Business Management Level 4 Y/508/0487 HND Business

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Introduction

There are number of technologies who act as crucial part within company. Due to the growing marketplace, there are technologies which are being adopted by the company which in turn can mainly provide sustainability within marketplace (Ahmed Dine Rabeh, Jimenez-Jimenez and Martínez-Costa, 2013). There is the high need of adopting various tools and techniques with the motive of having competitive advantage irrespective of size. Productivity enhancement along with transparency are major benefits which company avails by conducting the operations. Company taken for this report is Quint group who deals in financial domain and thus provide the services. There are various factors which will be highlighted within this report is objectives and aims for the study with planning and plan development which mainly consists of technologies within process of company. Along with this, there is some crucial data which needs to be collected by company for conducting the research in effectual manner.

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PART 1

P1 Aims and objectives of this study

There are some of the steps which needs to be matched with environment for prolonging the process of an organisation. Revolution is being done on regular basis by bringing new kind of technology along with dynamics which are being developed for maintaining the environment which in turn has become highly essential along with adoption of latest technology and trends in order to fulfil the actual needs and wants in effective and better manner (Chesbrough, 2010). A business can adopt number of technologies which are present within the market and can boost up the running. Basically technology mainly helps out in having better production of goods or ease in access of services to customers. Quint group being a financial domain, there is high need of having best of technologies which can keep every database in perfect manner. There is crucial data which needs to be stored and that can be done by introducing the cloud technology where data can be kept secured. Bringing innovation within the technology gives a little bit of unique difference which in turn can better results along with resolving issues and business procedures. Quint group is private venture can avail benefits in numerous ways (Crane and Matten, 2016). This can be allowed by developing the cost for the structure which can lower down the current one. Another benefit of digitalisation is the objectives within business tasks along with perfect data stockpiling. Mentioned company can be stated as helping hand for implementation of changes for certain activities enhancement. This in turn mainly helps out in guiding which can help out in attaining growth and success of business activities. In present scenario, Quint Group is focusing up on anticipating the versatile programming which in turn can enable prospects for dealing with exercises along with tasks by mobile.

Topic: Impact of digitalisation for providing support in accomplishing objectives of small business by the help of innovation.

Background of the Project:

Due to the scenario within marketplace, it has become highly essential for a business to mainly evaluate the external scenario of market which in turn can affect the business in slow and effective way. Operations of the business are being affected by the dynamic nature of marketplace (Den Hertog, Van der Aa and De Jong, 2010). There are certain areas which needs to be determined in order to bring the scope of evolution by which necessary modifications can be bought out. For a business, there is the need of having deep research of internal and external factors which can help in catering effective services to the clients. There is the high need of addressing the research and its outcomes by company so that outcomes which are being obtained in effective and efficient manner. There are various kind of advantages for the company like for example time and speed in order to deliver the services.

There is the advantage which company can avail by the help of research is gain certain knowledge for aims and objectives along with needs which has to be fulfilled in effectual manner (Eckerson, 2010). There are number of outcomes by the research and for them it is mots essential one is the customers which are facing many kind of issues by accessing and thus managing the services in better way. There are various kind of solutions which which company has came up after hearing the issues and thus for that company has developed a mobile application which can ease up the access to the services and thus it can provide functionality on regular basis of time. There are various kind of small business which are mainly trying to give better services and satisfaction along with initiatives within digital technology sector (Gebauer, Edvardsson and Bjurko, 2010). This can improve the customer relationship which are mainly retained with company.

Aim: “To standardise impact of digital technology for combining innovation and growth for a small business enterprise- A case study on Quint Group Ltd”

Objectives:

  • Identification of digital technology impact on SME.
  • To gauge estimation of development for a company.
  • To decide the interrelationship between the advanced innovation and development of private ventures
  • Suggestion of routes by which a business can embrace advanced advances

Research Questions:

  • What are the impact of digitalisation on business?
  • How growth and development can affect business?
  • State the relationship between growth and technology within company.
  • What are the ways by which digitalisation can be adopted within process by company?

P2 Project management Plan

When there is need of creating the value, company utilise the concept which is named as Project. Major focus of the project management plan is to look out for proceedings which has to be managed within projects such as the targets which can be mainly applied for completing the project. There are various kind of activities which are being mainly included within the project management for bringing the strategies and plans which can mainly be considered by activities. Certain activities are important to carry out in proper and authenticated way as they are the set of activities (Incelli, 2013). There are various stakeholders within company which are being mainly considered from the stakeholders while giving out the structure for the plan. This can be stated as duty of the manager in order to make sure the activities are being attained in expected way.

Cost: This kind of factor can be stated as term which is being used by company for introducing the services to the reach of customers. There are certain tasks which can be outsourced or an another team can be made for developing innovation within technology. Funds in huge amount is being needed for implementation (Jones and Lubinski, 2012). By this way, company has mainly own the goodwill within the marketplace and this will help in arranging funds.

Time: In this segment, tenure is being allocated by the management for the completing the project along with launching up of mobile application which can give ease access to users. This in turn create need of having time boundary which in turn can help in attaining the targets and motivating employees for similar doing. Those kind of activities gives certain amount of time in which work has to be completed.

Scope: There are various kind of activities which company takes in hand and thus accomplish within allocated period of time. This in turn provides the help in tasks identification completed within tenure provided (Kankaanranta and Planken, 2010). Major process of are planning, controlling along with closing has to be carried out.

Risk: This can be characterized as the vulnerability which is connected with venture (Lai and Ong, 2010). There are different sorts of hazard factor appended to the task. For instance , bring down reaction shape the customers over the territory of business. Advanced innovation has been assisting in standing out to cell phones for long stretch.

Communication: Significant part is being played by this factor as it gives the apparatus to directors to pass on the techniques alongside objectives which should be considered for this procedure. There are different sort of representatives who are for the most part chipping away at the task keeping in mind the end goal to give motivational component.

Quality control: It is exceedingly basic for every last sort of organization to give right nature of item and administrations to the general population. It must be ensured by the quint organization to keep up the nature of administrations which they are giving as this can influence the altruism (Lin and Chen, 2012).

P3 Work breakdown structure and Gantt chart

Work Breakdown Structure:

This kind of structure is all about delegation of roles and responsibilities which is being done by company in order top complete the project with innovative minds effectively (Work Breakdown Structure. 2018). There are various kind of factors which are being utilised for resolving the issues and complexity and the mots common one is work breakdown structure in smaller parts which in turn can be monitored and thus managed in successful manner (Shang, 2012). There are hierarchical divisions of the company who undertakes the certain activities and tasks by allocating them for certain tenure and professionals for each one. There are various kind of techniques which are mainly adopted by the company who has adopted the business companies in each and every kind of sector. In smaller companies, it is majorly seen that the projects are being outsourced for the separate team with small number of members (Smith, 2011). There is the separate team which has been formulated with small number of members who can majorly take up responsibility for attaining projects in ideal and effectual way.

Gantt chart

This is one of the effective concept or a tool which is being utilised for observing the completion of work for depicting the project schedule. This kind of project is being introduced by Henry Gantt who has stated that the time frame along with resources and milestones which are being mainly utilised within certain tasks context (Gantt Chart. 2018.). This can be stated as tool which is mainly adopted while formulating planning for certain project . Quint Group has been utilising the time management tool in order to design the time scale for employee motivation who are working on certain projects. For all his, resources are being needed by company but those are limited in nature. However, those resources can be utilised in optimum manner by an employee who are assigned certain roles and responsibilities. By utilising this kind of tool, there are some of the unwanted tool which can be removed from this kind of tool (Smith, Binns and Tushman, 2010). There is the crucial role which is being played for evaluating and monitoring the activities which are being utilised and thus make sure that the mobile application services can give better outcomes in effectual manner

PART 2

P4 Application of quantitative and qualitative tools for data collection

Conduction of the research is being done which in turn is highly essential for carrying out for collecting the perceptions by the view of customers in the context of organisational services and offerings (Introducing Research Methods. 2017). There are number of resources which are being adopted like data collection in primary and secondary resources.

Primary sources: This can be stated as data which is being collected by the researcher for the purpose of study. There are number of tools and techniques which are mainly utilised by the company so as to deal in effective way and collect the raw and fresh data which are like interviews, questionnaire and observational methods. Data which is being collected needs to be 100% genuine as per the working of company (Trimi and Berbegal-Mirabent, 2012). Data gathered needs to have actual potential so that it can fulfil the needs and can be highly relevant for the conduction of research. Questionnaire tool has been mainly chosen by Quint group regarding the certain tasks and activities for addressing the discrepancies. For this, there are 20 respondents which can be mainly opted by the random sampling tools and their tactics.

QUESTIONNAIRE

Name:

Age:

Gender:

Contact details:

Q1: Does Small Businesses need Digitalisation?

a) Important

b) Not important

Q2: Was developing the mobile application is an effective idea for introducing digital technology within workplace?

a) Yes

b) No

Q3 Does Mobile Application can improve the experience of customers?

a) Yes

b) No

Q4 Can Quint group can attain growth and success through digital technology and innovation in it?

a) Yes

b) No

Q5 Can more number of customers can be improved by digital technology?

a) Definitely

b) Not sure

Q6 Please state your opinion regarding digitalisation process of a company?

a) Positive Impact

b) Negative Impact

Q7 Do you think that mobile application will going to support a business in attracting more number of customers?

a)Yes

b) No (There are other areas to improve)

Q8 Does this process is appropriate for each and every individual?

a) Acceptable

b) Unacceptable

Q9 Will this provide a long term or short term benefit to a firm?

a) Short term

b) Long term

Q10 Recommendation to ensure digitalisation effectively in an organisation________________________________________________________________

Secondary data: Secondary data can be stated as the data which is being mainly gathered by the scholar. This kind of data is already been collected and thus it helps out the other researcher for the conduction of research. This kind of data is mainly found in articles, blogs and magazines. This is the data which is being related and relevant to conduct the research which is being made. Data is mainly gathered for giving support for the study which is done by primary resources.

Template for evidence collection to be attached with the report by the learner:

Project Logbook for the chosen organisation: Quint Group

     

Name of the learner:

Name of the Supervisor:

Project Title: Managing successful business

Date:

Update of weekly research/ tasks achieved (Account for a minimum of six weeks with dates)

 

What have you completed?

 

 

 

 

 

 

Did you fulfil Task requirements?

 

 

Are you on track and within deadlines set?

 

Did you need to make any changes to your project management plan?

 

 

Comments

 

 

 

Impacts on digital technology on operations of business and its management for obtaining the expected results

 

 

 

Yes

 

 

Affirmative as all the sections are being fulfilled as per requirements.

 

Negative, no changes are being required in project management plan due to no modifications in legislation which have taken place.

Any risks and / or issues identified?

· Did you identify risks/issues with a lack of skills required for undertaking research tasks?

 

 

 

· Did you identify any additional risks/issues that have an impact on the project management plan?

 

 

Yes, issues were being faced in the process of gathering the data as there were many resources which were unable to provide accurate data.

 

 

 

 

With the project budget, there are issues in addition and risks as well.

Problems encountered

· What barriers did you face?

 

· How did you overcome them?

 

There are some major barriers like ethical environment and trusting part.

 

For its resolution, I have focused on users for providing me the accurate data in an ethical manner.

New Ideas and change of project direction

 

 

 

 

 

Digital technology always provide benefits to the company for better outcomes. It is not compulsory for requirement of change in directions.

What Have I learnt about myself this week?

· How did I feel when I had to deal with tasks/problems?

 

 

· Did I find it useful to complete the tasks?

 

· How well have I performed? What did I contribute?

 

 

 

 

· What can I improve on next week?

 

 

· How might this learning apply in the future?

 

From my point of view, those challenges made me learn and experience new things for getting success.

 

 

 

Positive

 

with the help of managers and other senior authority, I was able to formulate this project. Moreover, they all gave me proper guidelines so that along with this project I can improve my performance skills.

 

 

I need to improve my skills specially communication skills.

 

 

It will be aidful in giving out beneficial directions to the management for making out better future decisions.

 

Tasks planned for next week

· Which tasks are priority?

 

 

 

 

 

· Have you set aside sufficient time for completion?

 

There are certain things on priority like collecting data, reviewing the literature and setting up the aims and objectives.

 

 

 

Yes, sufficient time frame has been set up for all the activities and extra time has been kept aside for finishing all the tasks and activities in effectual manner.

Project plan status to date (on, ahead, behind)

Up to date

Supervisor comments to address

 

 

Signature of the Supervisor and date:

 

 

 
         

Template for Performance Review Template to be attached with the report by the learner:

1. What was the Project supposed to accomplish?

The main focus of the project was fulfilling all the digitalisation activities so that high competitive advantage can be acquired along with customers.

2. Did the project succeed in its aims/ how do you know? Specifically, please outline any evaluation and assessment undertaken.

The main objective of the project was to enhance the image and goodwill of the firm in marketplace in global environment and it is done with the help of social activities for getting the best shape of objectives regarding business process.

3. What things do you think worked well and why? Evaluate all aspects of the project (e.g initial inception, project activities and project outcomes) from a range of perspectives.

I was exposed to all the tasks and activities of the firm while the conduction of project management. Moreover, it enables to reduce the activity's time frame.

4. What problems emerged during the project and how were they tackled? Was there timely identification of issues and resolution during the project process?

Yes, I faced many obstacles and issues while collecting the data and suitable figures from various sources.

5. What did you learn from undertaking the project?

From this project, I came to know that every organisation needs to fulfil the digitalisation for attracting large number of customers.

6. How would you rate your performance as a management consultant leading the project?

I would like to rate myself 8 out of 10.

7. What strengths and weakness of your performance did you identify?

My major strength is the way I communicate with others while poor analytical skills reduces the potency of my work.

8. How will this inform and support your continuous professional development?

It is fundamental for corporate associations to regulate free flow of communication at workplace as they can acquire with each other.

PART 3

P5 Research Analysis

The major motive of this kind of data analysis tool is to obtain the crucial data which can be further utilised for various purposes. Analytical and logical data can be mainly interpreted by this kind of tool in order to formulate the conclusion. There are various kind of sector in which this tool can be applied in deep way for the development. Data which is being gathered by the questionnaire is being evaluated and examined for obtaining results. Questions and their interpretation are being described below:

Q1: Does Small Businesses need Digitalisation?

  1. a) Important- 15
  2. b) Not important- 5

Interpretation:

Digital technology is something which gives many kind of facilities to the one who is using it. In case of companies, whether its a small or large, digital technology has become essential for everyone. On this kind of statement, 15 of them agree while 05 of them do not think the same.

Q2: Was developing the mobile application is an effective idea for introducing digital technology within Quint Group?

  1. a) Yes- 12
  2. b) No- 8

Interpretation:

Quint group being a finance company provides the loan and many more features. In order to reduce the tapism and time consumption, company has launched mobile application where customers can access the features and avail services with single click. From the above graph, it has been indicated that the 12 of them are in the favour of mobile application whereas 08 of them does not think that is good idea.

Q3 Does Mobile Application can improve the experience of customers?

  1. a) Yes - 14
  2. b) No- 6

Interpretation:

Mobile application will allow customers to go through all kind of services which will be provided by company. They can easily read all kind of norms and thus with single click, many of the confusions will get removed. On this basis, there are 14 of the respondents who agreed on this while 06 of them were not affected by the application usage.

Q4 Can Quint group can attain growth and success through digital technology and innovation in it?

  1. a) Yes- 16
  2. b) No- 4

Interpretation:

By adoption of the latest technology and innovating digitalisation within company, they can easily access to the untouched sectors and thus can explore the things which can bring growth and sustainability to the business. From graph, it can be stated that there are 16 of them who agrees on the same while 06 of them have complex situations within their mind.

Q5 Can more number of customers can be improved by digital technology?

  1. a) Definitely- 13
  2. b) Not sure- 7

Interpretation:

Digital technology is one of an effective tool which is being utilised for making the access of products and services easily. This will in turn attract the customers in effective manner. On this statement, 13 of the respondents has said the same but 07 of them is not clear about the impact which has been made by digital technology.

Q6. Please state your opinion regarding digitalisation process of a company?

  1. a) Positive Impact- 15
  2. b) Negative Impact- 5

Interpretation:

Digital technology has many kind of aspects and it totally depends upon its usage that what will be its outcomes. Mostly by its features , it creates positive impact upon the company like Quint group as there are many services which are being used for better operations. This is the opinion of many of the people and among 20 respondents, there are 15 who has observed the positive impact while 05 says that it creates negative affect.

Q7 Do you think that mobile application will going to support a business in attracting more number of customers?

a)Yes- 11

  1. b) No- 9

Interpretation:

before the mobile application, if one has the avail the services of Quint group, then the procedure were time consuming including lot of paper work. In order to reduce that, mobile application has been introduced which has reduced the paper work and time consumption and it can be accessed at any time and anywhere. So this kind of features has attracted customers and 11 of the respondents has agreed on them while still 09 was on another page.

Q8 Does this process is appropriate for each and every individual?

  1. a) Acceptable- 14
  2. b) Unacceptable-6

Interpretation:

From the above graph it can be stated that the 14 of them has the positive point of view for the digitalisation within life of people along with company's process. However, there are 6 who does not accept the fact that it can proser the life of an individual.

Q9 Will this provide a long term or short term benefit to a firm?

  1. a) Short term-7
  2. b) Long term- 13

Theme: Impact of digitalisation on business
Interpretation:

13 of the people who think that the digital technology has created long term impact while 07 of them think that it will create short term impact on the business process.

P6 Recommendations

Quint group is one of the effective brand which has been dealing within finance services to the customers. This kind of company who has maintained healthy relationship with the customers and this is the reason due to which they have long term relations with the customers. There are various kind of plans and strategies which are being made before entering into the new market and along with this it will also help in making decisions much more effective. This has allowed many of the companies to adopt the digital technology and along with that Quint group will be doing the same. There will be improvisation among working management which can be done within the operations as there will be no need foe any kind of modifications among them for making the operations much more effective and those are being described below:

  • Company can mainly bring innovation within the cloud technology so that access can be done in easy way at anytime.
  • There are various kind of applications which are being utilised by company before launching in order to resolve all kind of issues with no kind of bugs along with updates.
  • Regular evaluation of the activities needs to be done upon the activities so that they can be completed on time.
  • Reviews can be give up by customers along with improvements which can be made.

P7 Self- reflection of the work undertaken

Crucial role is being played by the work which I have done for widening up of the horizon along with skills enhancement along with knowledge. There are various kind of things where I have made struggle due to the lack of experience but these situations gave me experience and thus I performed well in that. Above made report, this has been mainly analysed that the for bringing sustainability within internal and external factors, it is being needed to have effective solutions for the issues. Award was being given to me for bringing digitalisation within company and market. There were obstacles which were being faced by me are described below:

  • Tasks needs to be carried out within the allocated period of time which I was not able to do as I committed lot of mistakes.
  • The samples which were being created who ere technically not updated due to which it became hard to understand the context and thus answer the same.
  • Resources are limited which has been used to carry out the data.

Conclusion

From the above report, it can be concluded that the digital technology is one of effective tool which has the potential drivers to make a business grow and attain sustainability within marketplace. There are various kind of factors which can make positive and negative impact upon the process of company and thus will allow them to gain the competitive advantage. This in turn will allow the company to attain the objectives in better and effective manner.

References

  • Ahmed Dine Rabeh, H., Jimenez-Jimenez, D. and Martínez-Costa, M., 2013. Managing knowledge for a successful competence exploration. Journal of Knowledge Management. 7(2). pp.195-207.
  • Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range planning. 43(2). pp.354-363.
  • Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
  • Den Hertog, P., Van der Aa, W. and De Jong, M. W., 2010. Capabilities for managing service innovation: towards a conceptual framework. Journal of service Management. 21(4). pp.490-514.
  • Eckerson, W. W., 2010. Performance dashboards: measuring, monitoring, and managing your business. John Wiley & Sons.
  • Gebauer, H., Edvardsson, B. and Bjurko, M., 2010. The impact of service orientation in corporate culture on business performance in manufacturing companies. Journal of Service Management. 21(2). pp.237-259.
  • Incelli, E., 2013. Managing discourse in intercultural business email interactions: a case study of a British and Italian business transaction. Journal of Multilingual and Multicultural Development. 34(6). pp.515-532.
  • Jones, G. and Lubinski, C., 2012. Managing Political Risk in Global Business: Beiersdorf 1914–1990. Enterprise & Society. 13(1). pp.85-119.
  • Kankaanranta, A. and Planken, B., 2010. BELF competence as business knowledge of internationally operating business professionals. The Journal of Business Communication (1973). 47(4). pp.380-407.
  • Lai, J.Y. and Ong, C.S., 2010. Assessing and managing employees for embracing change: A multiple-item scale to measure employee readiness for e-business. Technovation. 30(1). pp.76-85.
  • Lin, A. and Chen, N.C., 2012. Cloud computing as an innovation: Percepetion, attitude, and adoption. International Journal of Information Management. 32(6). pp.533-540.
  • Shang, S.S., 2012. Dual strategy for managing user resistance with business integration systems. Behaviour & Information Technology. 31(9). pp.909-925.
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