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Analyze the Effect of Digital Technology

INTRODUCTION

Technology provides different tools which can be used by an entrepreneur of a small-medium enterprise for fostering growth. Digitization has provided an organization with various development opportunities. Growth in digital technology has supported small-medium enterprises with an opportunity to reach a wide number of customers and provide them with information about the new product or services launched by the company. It has allowed business entities to facilitate innovation with limited resources and budgets. Business owner of small-medium enterprise needs to concentrate on innovation which can be done with the support of digital technology. With the passage of time, Digitization has become important in order to develop successfully as well as suitable business. An entrepreneur of a small business enterprise needs for utilizing the digital platform in order to yield maximum benefit. Digital technology has a positive impact on the growth of small firms. The purpose of the report is to analyze the effect of digital technology supporting small business growth and innovation in context with Continental Consulting Limited.

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LO 1

P1. Aim and objectives of research

Background of the study

Emergence of digital technology has provided various business opportunities to small medium enterprise through which an organization can increase sales and profitability. Digitalisation has helped an enterprise in fostering growth as well as achieving success (Selwyn, 2014). Digital technology has provided business entities with a chance to facilitate innovation with limited budget and resources. It is very much essential for business entrepreneur to adopt the technology as per trend, as this will help an organization in providing high level of satisfaction to customers (Parsons, 2013). Digital technology supports firm in increasing the sustainability in highly competitive business environment. Business entity by facilitating innovation with support of advance technology can gain competitive advantage in market. Digitization has contributed a lot for supporting small medium, enterprise in accomplishing different business objectives. Implementation of digital technology is important in terms of converting opportunities into profitable revenue which is further essential for business expansion (Giesen,Riddleberger and Bell, 2010). It is required by business entrepreneur for Continental Consulting Limited organization to concentrate on facilitating innovation, as this is the factor which will drive business entity towards achievement of success and fostering growth (Bulgurcu, Cavusoglu and Benbasat, 2010). In addition to this digitization, it supports every organization and considered to be important determinant of productivity as well as long term growth. By employing the digital technology at workplace, small medium enterprise can reach productivity levels above those of large companies. Innovation is considered to be as a growth strategy adopted by small medium enterprise (Goksoy, Ozsoy and Vayvay, 2012). In addition to this Digitization accelerates the diffusion of knowledge and enables an organization to bring drastic as well as positive improvement in business model. It also supports firm to expand business and foster growth rapidly.

Aim Of research:

To analyses the impact of digital technology, supporting small business growth as well as innovation – A study on Continental consulting Limited

Objective of investigation:

  • To develop the understanding about impact of digital technology on growth of Continental consulting Limited.
  • To analyze the way digital technology is supporting small medium enterprise in fostering growth.
  • To access the use of digital technology by firm in facilitating innovation.
  • To suggest the strategies which can be utilised by Continental consulting Limited company for fostering growth and developing new products.

Research questions

  • What impact digital technology have on the growth of Continental Consulting Limited?
  • How digital technology have supported Continental Consulting Limited Company in facilitating innovation?
  • Why business entity should implement digital technology at workplace?

P2. Project management plan

Project management plan is important to be developed by scholar before conducting the research. It supports researcher in identifying the activities which are required to be performed in order to accomplish desired aims and objectives. Project management plan helps investigator in identifying the risk as well as challenges or issues which might occur in investigation. The project management plan covers following aspects such as:

Cost:

This includes the expenses which is incurred in order to develop new process or system which might not result into commercially viable items. Cost in research also includes the expenditure which are required to be made in order to conduct investigation in systematic manner (Kerzner and Kerzner, 2017). Expenses are generally incurred in purchasing the resources needed for executing different research activities. Costs can be defined as funds required to be invested in for facilitating survey on specific topic. Expenses associated with conducting investigation are salary to research assistant, stationery, purchase of equipment for the project, traveling cost, etc. Estimated Cost which are required to be incurred on study is total £280,200.

Quality:

It is considered to be as the basis requirement of research project. Quality assurance is integral to the success of investigation. Scholar performance is completely judged on the basis of quality of work done by them during survey. Maintaining as well as monitoring the quality during an investigation procedure is considered to be as best practices. Quality is to be ensured when collecting as well as presenting the information. This factor has direct as well as significant influence on results as well as decision made by investigator. Quality of data or information is continuously monitored and ensured right from start of the research cycle.

Risk:

It can be defined as probability or chances of possible harms implied by participation in the research. Risk might include the threat of losses faced by participants when becoming a part of investigation procedure. The Ethical risks are involved in executing the investigation. Another types of risk involved in executing investigation is chances of conflicts between the participants involved in investigation procedure. As in present research, some facts as well as information will be collected through secondary sources there are chances of risk for Plagiarized material. Research data falsified with this type of risk might arise due to lack of participant interest in research project.

Scope:

It is the part of project planning which includes determination as well as documentation of goals as well as deliverable. In other words, Scope includes the description about certain targets or outcome which required to be achieved by facilitating investigation on specific topic. Scope also involves details about the activities which are to be executed during a survey. In present study, due to limited resources as well as time, only few activities will be performed by scholar which includes collection, analyses, interpretation or presentation of information.

Time:

It is the most important factor in project management plan. In research every activity is dependent on each other. All the tasks are required to be executed in sequence. Each procedure in research has a starting as well as completion time. Maximum time will be required in collection of data. The total time required to complete present study is maximum four to six months.

Communication:

In order to execute research in systematic manner, scholar is required to develop an effective communication plan. Some expectations are needed to be set and both project team and client stakeholders have to fulfill their responsibilities during investigation. Communication in project management plan includes detail about the ways or techniques which will be used by members for delivering or sharing information throughout investigation process. Communication in research is all about alignment on goals and milestones. It is very much important for project manager to inform stakeholders about the changes in a project plan. Effective communication assists project manager in making strategic decisions.

Resources:

These are the important elements in project management plan. It includes all detail about methods or techniques which will be used for allocating resources. As success of research project is completely based on the ways resources are allocated (Papke-Shields and Boyer-Wright, 2017). There are different types of resources required for facilitating investigation such as capital, technology, equipment, communication device, human resources, etc.

P3. Work breakdown structure and Gantt chart

Work breakdown structure is considered as a framework which helps project manager in categorizing the difficult and lengthy procedures into small units. It also enables manager to reduce the work load and make task easier. It also helps members involved in investigation process to develop understanding about each and every research activity.

Gantt chart is a graphical representation which consists of details about sequences in which different activities will be executed during the investigation process. It also includes details about staring as well as completion time of each task. In research all the activities are interrelated, so little risk in a task can have great effect on whole project.

LO 2

P4. Executing small scale research by applying qualitative and quantitative research methods

There are different types of research methods, philosophies, concepts, approaches and design which can be used by researcher in order to execute investigation in systematic manner. In present investigation on topic analyzing impact of digital technology on the growth and innovation of small medium enterprise, scholars have used following research methods and techniques:

Research philosophies:

It includes the perception of different researchers or people about the way investigation process should be conducted. There are two types of philosophy which are positivism and interpretative (Flick, 2015). In the present survey, positivism research philosophy has been used by investigator. Scholar has used various theories and findings in order to test the subjective concepts.

Research design:

It is very much important for researcher to select appropriate design as this factor has great influence on the research outcome. Research design is considered to be as strategies adopted by scholar for facilitating different activities during investigation. There are various research designs which can be utilized by investigator for conducting the investigation these are exploratory, experiential, explanatory and descriptive. In present study, researcher have used exploratory research design (Zumitzavan and Michie, 2015). This specific strategy have been used for facilitating investigation as it has helped scholar in analyzing root cause of the problem. Exploratory research design has provided researcher a chance to explore research topic and gain depth knowledge about the same.

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Method of data collection:

Data collection is important part of survey. There are mainly two sources these are primary and secondary from where information can be gathered. In present study, researcher have used interview as well as questionnaire method for data collection (Taylor, Bogdan and DeVault, 2015). In addition to this researcher have also utilised books, journal and articles for gathering the secondary information.

Research approaches:

It is very much important for investigator to select right approach for conducting the investigation. Research approach describes the purpose of investigation. It is considered as a plan which is designed on basis of assumptions made by investigator during time of collection of information, analyze as well as interpretation of data (Rose, 2016). There are different types of research approaches these are inductive and deductive. In present investigation, scholar have used inductive research approach (Johnson and Christensen, 2010). This specific conceptualization has been selected for investigation as inductive approach will help investigator in developing new theories which can be generated from information gathered during survey.

Techniques used for selecting sample :

There are mainly two types of methods which can be utilised for selecting sample from large population these are probability as well as non- probability. In present investigation, scholar will use probability sampling with random sample technique for selecting few participants from the large population. There has been 20 participants that has been chosen, who will help scholar in facilitating investigation (Monsen and Horn, 2007). In present study, participants those who are working within Continental consulting Limited are selected.

Data analysis:

It is considered to be the most important task in research. Data analysis include refining of data in order to identify or access useful information. There are basically two techniques which can be utilized for analyzing the facts these are qualitative and quantitative. The selection of techniques is done on the basis nature of problem. Data analysis helps investigator in reaching to the conclusion and supports in making appropriate decisions. Analyzing the information is important in order to make report meaningful as well as easily understandable by user. In present study, researcher have used Qualitative data analysis technique. The reason for selecting the qualitative data analysis technique is that it helps in making quick decision (Borghoff and Pareschi, 2013). Another rationale for selection is that qualitative data analysis technique assist scholar in developing depth understanding about research topic. It also supports researcher in discovering the pattern such as changes over time. Qualitative data analysis technique also help investigator in developing the understanding about possible causal links between variables.

Questionnaire

Name:_________________

Age:__________________

Occupation:____________

Q1. What impact digital technology have on growth of your organization?

  • Positive
  • Negative
  • Both

Q2. Does digital technology helps firm in facilitating innovation?

  • Yes
  • No
  • Don't Know

Q3.are you agree you with the statement that digital technology have positive impact on growth of an organization?

  • Completely agree
  • Partly agree
  • Completely disagree

Q4. Which are the areas where digital technology can be implemented?

  • Marketing
  • Customer service
  • Management
  • Operational unit

Q5. Which type of digital technology will help business entity in bringing improvement in business activities?

  • Social media
  • Artificial intelligence system
  • Information system
  • Accounting system

Q6. In which area an enterprise can bring improvement by employing digital technology?

  • Overall businesses
  • Marketing
  • Operation
  • customer service

Q7. What is the major issue faced by Continental consulting Limited?

  • Cost
  • Management issues
  • Quality issues

LO 3

P5. Data analysis

In present study qualitative technique has been utilized by researcher for refining of data. In addition to this, thematic analysis method has been used for presenting the data or information.

Theme 1: Positive impact digital technology have on growth of your organization.

What impact does digital technology have on growth of your organization?

Frequency

  • Positive

12

  • Negative

3

  • Both

5

Findings and analysis:

It has been analyzed from the above information that out of 20, twelve respondents perceives that digital technology have positive impact on growth of company. There are five respondents who have stated that digital technology have both positive and negative effects on growth of the firm.

Theme 2: Yes, digital technology helps firm in facilitating innovation.

Does digital technology helps firm in facilitating innovation?

Frequency

  • Yes

13

  • No

5

  • Don't Know

2

Findings and analysis:

It has been depicted from the above data that out of 20, 13 respondents have said yes that digital technology helps firm in facilitating innovation. There are 5 participants who have stated no for same question.

Theme 3:

completely agree with the statement that digital technology have positive impact on growth of an organization.

Are you agree with the statement that digital technology have positive impact on growth of an organization ?

Frequency

  • Completely agree

12

  • Partly agree

6

  • Completely disagree

2

Findings and analysis:

It has been analyzed from the above information that out of 20, 12 respondents have shown their complete agreement with the statement that digital technology have positive impacts on growth of an organization. There are 6 participants those who partly agrees.

Theme 4:

Customer service is the area where digital technology can be implemented.

Which are the areas where digital technology can be implemented?

Frequency

  • Marketing

3

  • Customer service

10

  • Management

5

  • Operational unit

2

Findings and analysis:

It has been analyzed from above facts that out of 20 respondent, 10 people perceived that Customer service is the area where digital technology can be implemented. There are 5 respondents who suggests that digital technology should be used in management department.

Theme 5:

Social media is type of digital technology will help business entity in bringing improvement in business activities.

Which type of digital technology will help business entity in bringing improvement in commercial activities?

Frequency

  • Social media

10

  • Artificial intelligence system

3

  • Information system

5

  • Accounting system

2

Findings and analysis:

It has been found that out of 20, 10 respondents believes that Social media will help business entity in bringing improvement in business activity.

Theme 6:

Customer service, is the business field where an enterprise can bring improvement by employing digital technology.

In which area an enterprise can bring improvement by employing digital technology?

Frequency

  • Overall business

6

  • Marketing

3

  • Operation

2

  • customer service

9

Findings and analysis:

It has been analyses from above information that out of 20, 9 respondents in customer service is the area where an enterprise can bring improvement by employing digital technology.

Theme 7:

Cost is the type of technological challenges that has been faced by Continental consultin

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