This project attempts to identify the manner in which digital technology has transformed business activities. There is an exploration of challenges and opportunities which are associated with rapid technological advances.
- Devising clear aims and objectives.
- Producing a project management plan through considering factors such as time, scope, quality, communication and risk.
- Determination of timeframes and stages through the Gantt chart and WBS.
- Carrying out small scale research for Tesco with the use of qualitative and quantitative methods.
- Analysis of data collected through primary research.
- Providing appropriate recommendations for Tesco post evaluating research outcomes.
- Reflect on the value of undertaking research.
PART 1: Project Management Plan
Definition of the project
In modern era, development of technology has impacted in the business processes greatly. Improvement in the digital technology has impacted in the business activity greatly. The large, small and medium business organizations are incorporating digital technology in their operations. The administration, communication, production and storage systems have changed a lot due to the contribution of digital technology.
Problem statement
The development of digital technology has provided the business owners an opportunity to decrease the operational cost and increase their ability to improve the communication and storage systems. This has enabled them to sell the existing products in a more profitable way. As stated by Bititci (2016), digital technology has also helped the organizations to develop more innovative products in order to increase the customer satisfaction and gain competitive advantage. Digital technology also helps an organization in outsourcing and impacts in the business by inducing effective collaboration. Digital technology is helping the organizations by improving the communication facilities. Websites, internet and social media has improved their ability to communicate with the customers and stakeholders more effectively. On the other hand, introduction of cloud storage has decreased the operational costs of the management by eliminating the use of hardware system. Storage of valuable data, which includes customers’ information, stakeholders’ information has become easy nowadays due to the development of digital technology and specifically cloud technology. In order to achieve business objectives, organizations require choosing appropriate tools of digital technology for their business. In doing so they could face problems. However, these problems could be mitigated by improvising various technologies.
Project strategy
The strategy of the project will be framed on the basis of aims and objectives of this project. Assessment of various tools of digital technology is essential in order to select the appropriate tool for the business. As opined by Harrison and Lock (2017), in order to enhance the performance of the business potential, it is necessary to choose potential digital technology. In this project, main focus needs to be given in the reduction of the operational cost. Different retail companies of UK need to develop proper strategies in order to implement digital technology in their business operations.
Project Objectives (P1)
The aim of this project management plan tends to focus on the effect of digital technology in organizational activities. Objectives of this project are related with the development of the business organizations like sage group by enhancing their performance. Meeting the objectives will help the management of the organizations to expand their business by increasing the productivity and performance.
- To improve the communication system of the organization
- To decrease the operational cost of the firm
- To increase the productivity
- To implement digital technology and enlarge customer base of the firm
- To expand the business in new markets in future.
Deliverables (P2)
The outcomes of this project will show progress of the business. As stated by Drucker (2017), incorporation of digital technology in business operations will facilitate the firms by increasing the performance. In countries like UK, where competition has raised to a new level, implementation of digital technology in business has become inevitable. Implementation of effective digital technology in business processes will help the management to achieve their business objectives. This project will facilitate the management of the firm to analyze and evaluate the effectiveness of digital technology in their business. This project will help them to understand the advantages of the digital technology. Outcome of this project will help the management to manage the tangible and intangible aspects and achieve their business goals. As opined by Webb (2017), it is essential for a company to reduce their operational costs in order to expand their business. Reduction in operational cost will help the management of the organization to save their capital and invest it for right purpose. Business could be expanded by increasing the customer base. Providing good customer experience will increase the customer satisfaction and in turn the company will be able to achieve competitive advantage.
By incorporating digital technology, communication between the team members could also be increased. This will help to promote the teamwork. As mentioned by Goetsch and Davis (2014), good teamwork helps to ensure collaboration between the employees and will decrease the error in operations. On the other hand, improvement in the technology will enable the firm to develop a good service quality, which will help them to achieve customer satisfaction. In addition, retail companies like TESCO could also improve their product quality by innovating new designs. Implementation of proper tools of digital technology will also help the firm to achieve financial benefits.
You may also check this sample:Unit 2 Managing Financial Resources and Decisions, Pearson BTEC Level 5 HND Diploma
Project Scope Statement
This project will help to create future scopes of the organizations to increase their business activities and will also help to achieve the business goals. In this project, some important scopes has been discussed, whereas some scopes are excluded which are not important. As stated by Heizer (2016), if proper tools of digital technology are implemented successfully, then this will help the firm by influencing the business activities.
a. Included Scope
In this project, the scope of business exploration has been included. It is also mentioned here that digital technology has impacted positively in the business activities. As opined by Wheelen et al. (2017), successful incorporation of digital technology tools will help the management to expand their business in new markets and increase the customer base. This project included the scope of reducing operational cost of the companies by adopting various effective tools of digital technologies. Excessive operational costs reduce the chances of a company to expand in new markets. In order to grow, it is essential for a firm to expand and gain new customers; traditional way of management creates a barrier in this process. Adaptation of digital technology will help the firm to grow effectively by reducing the operational cost. In addition, scope of improvement of communications has also been included in this project.
b. Excluded Scope
In this project, the management of the stakeholders has not been discussed. Digital technology will not be able to manage the external shareholders of a firm effectively. Shareholders could be maintained by proper collaboration of the management. As stated by Serra and Kunc (2015), proper management strategy could only help an organization to manage the shareholders effectively. In addition, digital technology will not be able to motivate the employees. In order to motivate the employees of a firm, the management needs to adopt proper recognition and reward strategy. This will help the management to focus on their performance and give feedback to increase their skills. Proper training sessions could only help the firm to motivate their employees. Hence, this factor is also excluded from this project.
c. Success Criteria
This project will be considered successful if and effective if the organizations could be able generate financial benefit and expand their business to new markets. In this project, several business scopes have been discussed and effectiveness of this project could be analyzed and evaluated on the basis of future aspects of the mentioned scopes. These main objectives of this project will be fulfilled if the organizations adopt digital technology. The success rate of this project could be measured by measuring the impact of digital technology in their business operations. As stated by Van Der Aalst et al. (2016), proper implementation of digital technology in different aspects of business will help a firm gain economic benefit. Increase in the economic status of a firm will help to understand the success of this project in order to gain financial benefit. Workforce will also be shaped by implementing digital technology. The management could focus on recruitment and measuring performance effectively with the help of digital technology. Changes will occur in operations after implementing digital technology. The management needs to monitor the effects of the digital technology and take appropriate measures according to that. The project need to be completed with the given time schedule and budget.
d. Project Assumptions
The assumptions of the expected outcomes are:
- The recruitment policy will be improved. As stated by Heagney (2016), digital technologies will help an organization to use effectively internet, while recruiting new employees. This technology will help the firm to create a pool of candidates and select the desired ones.
- Different companies will be able to expand their business in both national and international market by incorporating digital technology in their process. The company will be able to achieve more financial benefit by reducing the operation cost.
- The product and services of the firm will also be developed by implementing digital technology. As opined by Maylor et al. (2016), digital technology helps an organization to create effective designs for their products and improve their services to the customers increasing customer experience.
- Communication between the employees and management will also increase after implementing digital technology, which will increase collaboration between them.
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