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Growth and Development Opportunities of Unicorn Grocery

Organization Selected : Unicorn Grocery

INTRODUCTION

Today in order to gain high competitive advantage, every company used to make project which aids them in enhancing productivity and performance of business also. Therefore, for this manner, managers of such companies are required to conduct proper research for making a project. In this regard by management of successful business project will lead to increase growth and development opportunities of business (Bengtsson and Johansson, 2014). This type of research comprises with creative and systematic work which will aid in increasing the stock of knowledge that further used for devising new application. Along with this, digital technology also plays an important role in enhancing activities and making business successful. It aids organisation in transforming the way and resources through which operations of business are carried out. In this manner, a report has been prepared on impact of digital technology on business of a firm. For this context, Unicorn Grocery of UK has been taken which is located in Manchester, England. This enterprise sells organic, fresh and processed food or drink products. It is one of the largest groceries which has given turnover around £7 million. By implementing digital technology in business this firm has got an award 'Best Food Retailer' in 2017. In this mention report, various aspects of business has been discussed which includes scope, cost, quality and resources. Along with this, Gantt chart and breakdown structure also gives stages and time framework for completion.

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TASK 1

P1 Project aims and objectives

Today in fast developing area, it is essential for every type of business to conduct a proper research for making an appropriate plan. It will help them in expanding business in other locations and gain higher profitability as well. But for such processes, it is amendable for companies that project made by them should be reliable as well as more profitable so that they can gain better competitive advantage (Berends and et. al., 2014). The main objective of firm behind making a project is to utilise resource like manpower, raw materials, machineries and capital in a systematic manner. In context with Unicorn Grocery, it deals in small business sector having near about 70 employees in outlets. This co-operative firm is founded in 1996 and entire business is controlled and run by employers with a flat management structure along with equal rate of pay. It serves a high range of products like household, cosmetics, body care and general grocery items. In terms of price strategy, it always sells commodities by keeping price in a systematic way.

As competition is increasing at rapid rate, therefore, this firm requires to implement digital technology. It will help in increasing performance level of business through which higher profitability can be generated. Implementation of such techniques aid employers in making good interaction with consumers and build an effective relationship also. This would help in gaining retention of consumers for long-term profitability of business (Glaub and et. al., 2014). In addition to this, making business digitalise always impact on performance in a positive manner.

Topic:

How digital technology has transformed business activities: operational, marketing, HR, and accounting.

Background of research

It is necessary for each and every type of organisation to introduce latest technology in business in order to enhance and improve quality of business more better. This type of transformation is imperative for kind of business which improves performance of employees, stakeholders, customers and all people who are associated with them. In addition to this, it also encourage employers in giving new and highly innovative products at marketplace. In this manner, Unicorn Grocery needs to adopt digital technology organisational system so that attention and retention of customers can be gained in an appropriate manner. This firm uses various tools of social media and internet application to spread awareness of its products at marketplace and attract more customers towards the same (Whyte, Stasis and Lindkvist, 2016). Introducing digitalisation in business aid this firm in achieving objectives and targeted aims within a predetermined period of time.

Aim: To evaluate the importance of transformation of digital technologies in business activities for enhancing profitability and productivity. A Case study on Unicorn Grocery

Objectives:

  • To evaluate the impact of concept of digitalisation on profitability of the firm.
  • To determine importance of digital technologies for retaining customers for longer period of time.
  • To measure the effectiveness of digital tools used by organization to increase productivity.

Research questions:

  • How to evaluate the impact of concept of digitalisation on profitability of the firm?
  • How to determine importance of digital technologies for retaining customers for longer period of time?
  • What are the major digital tools used by organization to increase productivity?

P2 Project management plan covers aspects of cost, scope, time, quality, communication, risk and resources

Execution of digital technology is helpful in achieve aims and goals in an effective or better manner. IT is necessary for manager of Unicorn grocery to execute better program which can be concerned to manage various projects, it is helpful in implement various tasks as well as functions of project management in systematic way (Kerzner, and Kerzner, 2017). It will help to company in finish various activities of project. In addition to this, manager of Unicorn Grocery company uses better raw materials, produce quality products etc. Some necessary components of project management plan given below as above:

Scope of projects risk:

Under this consist all necessary requirements along with the details for better implementation of project activities. In this involves al boundaries and limits to be included at the time of implementing any activities and tasks. In addition to this, these boundaries may be time to meet with activity along with the allocated budget to specific activity. Its major focus on quality of work as well as goods in an effective manner.

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Cost:

The consumers of this time period are very cost conscious. They want products on reasonable costs. It is a responsibility of company to make some changes in its pricing strategies on continuous basis. In addition to this, large projects require more funds in order to finish specific projects (The Project Management Plan (PMP). 2015). There is a requirement to manage to develop better capital management by different resources.

Quality:

In this modern era, consumers want quality product which can satisfy demand or requirement of people in an effective manner. It is important factor and helpful in attract large number of consumers towards firm.

Time: 

In order to finish project, it is necessary to decide specific period of time. Regards this, it is essential for employer to concern with the various project function which aid to finish project. It is helpful in minimising cost of manufacturing and some of the other expenses (Ghobakhloo and et. al., 2012).

Communication:

For achieving aims of firm, it is important for management of firm to prepare better policies. If communication among all staff members and managers will be clear then in this case they will able to focus on achieving set aims and goals of company in significant manner. It is helpful in bring effectiveness in operations of company. Get the best essay writing service with chat support. Order Now!

P3 Work breakdown structure and a Gantt Chart

In order to achieve success of business in a precise manner, it is necessary for management of a firm to formulate a proper plan. It will include entire activities, strategies and policies used to make modifications in system. But for this process, managers of a company like Unicorn Grocery needs to conduct proper research through which they can analyse major benefits and drawbacks of creating innovation in products. Further project makers are also required to use effective techniques and tools for collecting relevant and accurate information on a particular topic. Generally small business enterprises use following two techniques for executing a plan:

Work Breakdown Structure-

It is the most beneficial technique used in project management by a firm. This technique is used to breakdown a project into smaller and manageable components in terms of size, responsibility and duration of task. It would help members who engage in group activities to complete a project on time as well as accomplish objectives in a successful manner. In addition to this, WBS also provides a framework for estimating the cost required in completing a particular project. This would help employers to control cost and expenses as well. It can display in various form like vertical as a tree structure and horizontal in outline form as well.

(Sources: Work Breakdown Structure, 2018)

Gantt chart- 

This technique is given by Henry L. Gantt which used as a production control. It is a horizontal bar chart that provides a graphical illustration of a project which further helps in planning, coordinating and tracking a particular task of a project (What is a Gantt Chart?, 2018). This method is used to allocate time to different segmented activities of a task so that objectives of main task can be completed on time. As this chart is constructed on Cartesian Plane in which horizontal axis represents total time taken for completing a project and vertical one reflects the major tasks used in making a project. Thus, it provides an illustration of status of a project in a clear and concise manner. Therefore, for conducting proper research, managers of a firm are required to use following following steps:

  • Problem identification
  • Literature review
  • Identify main issues
  • State and define concept of study
  • Choice of respondents which are going to implement project research
  • Development plan
  • Data collection
  • Analysis and review

M1 Comprehensive project management plan, milestone schedule and project schedule

Project management plan is generally made in formal structure through which managers can execute a plan in proper manner. It also helps in keeping an eye on performance as well as monitoring and implementing the project in a systematic manner. In addition to this, usage of techniques like Work Breakdown Structure and Gantt Chart helps in fragmenting a task into smaller components in given framework of time. While in terms of milestone schedule, it consists some building blocks of strategy which is used to set a plan tactics into concrete terms with real budget and responsibilities of management (Ghobakhloo and et. al., 2012). On the other hand, project schedule refers to a particular mechanism through which all activities can be completed within predetermined period of time. These processes aid Unicorn Grocery to accomplish objectives and set goals of new project in a successful manner.

TASK 2

P4 Small-scale research by applying qualitative and quantitative research methods

In any research plan the most necessary elements are objectives and aims which are needed to be set in proper way. In addition to this, for conducting an appropriate research, project maker needs to use proper methodologies. It would help in collecting appropriate research so that better result can be obtained. In this regards managers of Unicorn Grocery use two different methods of research that are quantitative in which data is measured in terms of quantity. While second method is qualitative one in which data is collected in terms of quality. Both are these methods useful in conducting a research in systematic manner. In addition to this, the two basic methods used by every investigator for collecting relevant method are primary and secondary methodologies.

Primary-

This research method is used to meet specific needs of a project which is conducted by project makers themselves. They used surveys, interviews and questionnaire format for collecting a relevant information on a particular topic in a proper way. This techniques provides reliable information as compared to other methods who used to conduct data with the help of others. In addition to this, investigators use statistical models by taking a sample group from targeted audience. Further, it includes two methods that are exploratory and specific research. Exploratory method does not target a particular aim, it uses to identify issues occur within a business. While specific research is used to find solution of a particular problem.

Secondary data-

This research is an another technique for collecting a data in which investigators used literature reviews and existing information from textbooks, encyclopedias and more (Pinto, 2015). As compared to primary method, this source is used to collect data in more precise and fast manner but it fails to give reliable information. Generally published data is available in public records, technical and trade journals, publication of Government and more. While unpublished data can be found in biographies, letters or other.

In this present report, a researcher has used both primary and secondary sources to collect the data. In this manner, a questionnaire is prepared for gathering information from a particular group in which 50 respondents are taken in a systematic manner. It will help in getting proper reviews and feedback of people on making business digitalised is helpful or not. In this manner, a questionnaire format has been prepared for obtaining different opinion of selected respondents:

QUESTIONNAIRE

Name:

Age:

Gender:

Contact Number:

Q1) Is transforming digital technology in business helpful in expansion?

a) Agree

b) Disagree

Q2) If making business digitalised provides support to Unicorn Grocery to give tough competition to rivals?

a) Accepted

b) Not Accepted

Q3) As per current scenario, is fast developing technology helpful in serving better services to consumers on time?

a) Fully Agree

b) Not completely Agree

c) Highly Disagree

Q4) In what manner digital technology provides benefits to business?

a) Attract more consumers.

b) Increase sales and productivity

c) Expand business

Q5) If Unicorn Grocery sell its products or services through online procedure then, it will helpful in making improvement in customer base?

a) Yes

b) No

Q6) Tools used by company for increasing productivity

a)Skype

b) E-mails

c) Other online tools

Q7)Is digital technology useful in creating modifications in business operations for Unicorn Grocery?

a) Yes

b) No

Q8) Which method suits more for retailing companies to marketing their products in wider manner as per present situation?

a) Modern marketing

b) Traditional marketing

Q9) Is Unicorn Grocery use effective methodology to store data of employees in a prescribed and secure manner?

a) Yes

b) No

Q10) Recommend the major ways of transforming digital technologies in business operations of Unicorn Grocery.

a) Yes

b) No

M2 Accuracy and reliability of different research methods

Managers of Unicorn Grocery use both quantitative and qualitative methods of conducting research in a proper manner. These methodologies used to provide accurate information on a particular topic. In addition to this, for obtaining better outcomes, it is necessary for managers to check reliability and accuracy of both methods. In this manner, reliability concerns on measuring consistency of data while qualitative research used to check validity and appropriateness of tools and techniques used in achievement of desired result.

D1 Project management process

Behind a project management, primary challenge faced by investigators is to achieve targeted goals and objectives within a set period of time (Peters, Blohm and Leimeister, 2015). It includes some key areas like phase management, planning, controlling, communicating, procurement and integration. In this process, project management aids a firm in completing the objectives in a desired manner. It includes various steps among which some are given below for the process of project management:

  • Planning
  • Implementing
  • Controlling
  • Integrating
  • Closing

Therefore, it is essential for managers of Unicorn Groceries to follow these steps of project management process. This would help in managing, controlling activities and performance so that a project can be completed in a systematic manner. In addition to this, for collecting relevant information on a particular research topic, investigators are needed to use better methodologies and techniques like conducting surveys by making a proper questionnaire. This would aid them in getting reviews and feedback of customers living in a particular area about transforming the digital technology in business.

TASK 3

P5 Interpretation and evaluate the project outcome

Questions

Frequency

Q1) Is transforming digital technology in business helpful in expansion?

a) Agree

45

b) Disagree

5

Q2 If making business digitalised provides support to Unicorn Grocery to give tough competition to rivals?

a) Accepted

48

b) Not Accepted

2

Q3) As per current scenario, is fast developing technology helpful in serving better services to consumers on time?

a) Fully Agree

22

b) Not completely Agree

18

c) Highly Disagree

10

Q4) In what manner digital technology provides benefits to business?

a) Attract more consumers.

13

b) Increase sales and productivity

20

c) Expand business

17

Q5) If Unicorn Grocery sell its products or services through online procedure then, it will helpful in making improvement in customer service?

a) Yes

37

b) No

13

Q6) Tools used by company for increasing productivity

a) Skype

7

b) E-mails

31

c) Other online tools

12

Q 7 Is digital technology useful in creating modifications in business operations for Unicorn Grocery?

a) Yes

36

b) No

14

Q8) Which method suits more for retailing companies to marketing their products in wider manner as per present situation?

a) Modern marketing

32

b) Traditional marketing

18

Q9) Is Unicorn Grocery use effective methodology to store data of employees in a prescribed and secure manner?

a) Yes

29

b) No

21

Q10) Recommend the major ways of transforming digital technologies in business operations of Unicorn Grocery.

THEME 1: Transforming digital technology into business

Interpretation:

Management ofUnicorn Grocery has conducted a research on targeted audience by taking a sample of 50 respondents. So, it has interpreted from this mention graph that transforming technology into business is much helpful in gaining competitive advantage and acquiring a good position at marketplace which is agreed by 45 respondents of them. While 5 are not agree on the same.

THEME 2: Making business digitalised

Interpretation:

From this research, it has interpreted that introducing digital technologies in business is much helpful in increasing productivity and sales performance of a business. In addition to this, it also aids organisation in improving their brand image at marketplace in better manner. This graph has shown that out of 50 respondents, 48 have accepted this statement while minimum of them i.e. near about 2 are not agree on the same.

THEME 3: Fast developing technology helpful in serving better services to consumers

Interpretation:

Making business digitalised and adopting fast technologies in organisational system is helpful in providing better services to customers. So, above graphical representation of data has shown that in every 50 respondents, 22 are fully agree on this statement and 18 thinks it is not so effective. While 10 are totally disagree with this.

THEME 4: Digital technology provides benefits to business

Interpretation:

Usage of digital technologies in marketing, operation and production etc. provide various benefits to firm like expanding business in other locations, increasing sales and productivity and attracting minds of customers in an efficient way. In this manner, above graph has revealed that in 50 respondents, 20 are believed that digitalisation helps in increasing sales performance more. While 17 are thought in enhancing business and 13 said that it is much beneficial in attracting them.

THEME 5: Online procedure

Interpretation:

Present retail enterprise want to provide online services to customers which helps them in placing their orders as well as get the same on time in an easy and effective manner. Therefore, to judge effectiveness of this technique, it has observed that major proportion of population i.e. 37 out of 50 is agreed but rest of them are disagree to use online services for purchasing products. Thus, it is suggested to this firm to launch its business on online application and sale commodities in a better way.

THEME 6: Tools used by company for increasing productivity

Interpretation:

Digital technology has given various tools and techniques to enterprise for making communication with customers living at nearby or distant places. Therefore, in context with Unicorn Grocery, 31 out of 50 respondents believe that e-mail is best techniques to give information to them about offers and services of this firm. While 7 believe that Skype is more better and rest of them used other online sources for the same.

THEME 7: Digital technology useful in creating modifications

Interpretation:

In order to interpret that if using digital technology is helpful in creating modification, managers conduct a research on 50 respondents, 36 are satisfied with this statement. While 14 said that it is not much beneficial for enhancing productivity and profitability of business.

THEME 8: Method of marketing products

Interpretation:

Since Unicorn Grocery has made various changes in business strategy and system but in terms of using marketing tactics, it has interpreted that out of 50 targeted audiences, 32 have agreed that it uses modern marketing technology. On the other hand rest of people i.e. 18 said that this firm use traditional techniques of marketing.

THEME 9: Methodology to store data of employees in a prescribed and secure manner

Interpretation:

This graph has been made to show how much adequately Unicorn Grocery has used technology to store personnel data of employees. So, it has interpreted that out of 50 respondents 29 are agree that their private information is stored in confidential manner. While 21 are not agree on the same.

P6 Recommendation

Unicorn Grocery is one of the largest retail companies of UK which sell organic products at marketplace. But due to rise in competition and rapid changes in trends, this firm needs to create modifications in system (Nicholas and Steyn, 2017). This would help in providing innovative products or services to customers in a better manner as well as increasing brand value of business also. From this research it has seen that making a business successful and expand in other locations, its management is required to make improvisation in business environment. By conducting this research, it has recommended to Unicorn Grocery to follow some suggestions which are g

  • As per research, it is cleared that Unicorn Company is required to create some modification in techniques. It should adopt latest technologies in association through which various departments like marketing, finance, operational management and more can do their functions in more specific manner.
  • It has seen that since this company deals in small business sector but yet has made a good reputation in UK marketplace. So, it doesn't need to create modifications in entire business activities. It has to create alterations in marketing and production division only so that minds of customers can be attracted in more precise manner.
  • As research is conducted by primary and secondary source both so feedback of people can be gained in a proper manner. Therefore, it has recommended that this firm needs to formulate a proper plan in which set objectives and goals are given as well as activities used to complete the same.

P7 Reflection on understanding research

During conducting an investigation, there are many different issues which an investigator faces (Larson and Chang, 2016). In context to avoid some issue, it is important fore investigator to organise various kind of activities as well as operations of experiment in significant manner. Under this, an investigator cab develop plan in the form of written in chronological manner. At the time of perform various investigation activities or tasks, I faced various kinds of issues. Between all issues, mostly I faces funds along with time related problem. In order to conduct an investigation I chose sample size of 50 respondents. The funds was not proper because I faced many obstacles at the time of carrying out an investigation. Under this investigation, I put all the effects to complete operations and activities with in set period of time.

M4 Value of the project management process and use of quality research

Project management process plays a crucial role in accomplishing major goals of project within a predetermined period of time (Kerzner and Kerzner, 2017). It would help in utilising available resources in a proper manner. In context with small business enterprises like Unicorn Grocery, project management process helps in improving standardisation of business, giving opportunity to enhance growth of business and more.

CONCLUSION

It has been concluded from the above given report that Unicorn Grocery company carried out activities as well as operations of research in context to achieve goals and objectives of business within set time period. For increase effectiveness of operations of company, firm use digital technology which is helpful in connect people in all over the world. Firms identify different opinions as well as view points of consumers to satisfy their needs ion better manner. It is helpful in enhancing profit level and success of firm in better manner. Under this mention report studied about the small investigation through apply qualitative as well as quantitative methods of research. Project management plan which covers quality, time, scope, communication and many others has been discussed in given assignment.

REFERENCES

  • Bengtsson, M. and Johansson, M., 2014. Managing coopetition to create opportunities for small firms. International small business journal. 32(4). pp.401-427.
  • Berends, H. and et. al., 2014. Product innovation processes in small firms: Combining entrepreneurial effectuation and managerial causation. Journal of Product Innovation Management. 31(3). pp.616-635.Dutta, D. and Bose, I., 2015. Managing a big data project: the case of ramco cements limited. International Journal of Production Economics. 165. pp.293-306.
  • Glaub, M. E. and et. al., 2014. Increasing Personal Initiative in Small Business Managers or Owners Leads to Entrepreneurial Success: A Theory-Based Controlled Randomized Field Intervention for Evidence-BasedManagement. Academy of Management Learning & Education. 13(3). pp.354-379.Volery, T., Mueller, S. and von Siemens, B., 2015. Entrepreneur ambidexterity: A study of entrepreneur behaviours and competencies in growth-oriented small and medium-sized enterprises. International Small Business Journal. 33(2), pp.109-129.
  • Whyte, J., Stasis, A. and Lindkvist, C., 2016. Managing change in the delivery of complex projects: Configuration management, asset information and ‘big data’. International Journal of Project Management. 34(2). pp.339-351.
  • Ghobakhloo, M. and et. al., 2012. Strategies for successful information technology adoption in small and medium-sized enterprises. Information. 3(1). pp.36-67.
  • Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
  • Larson, D. and Chang, V., 2016. A review and future direction of agile, business intelligence, analytics and data science. International Journal of Information Management. 36(5). pp.700-710.
  • Nicholas, J. M. and Steyn, H., 2017. Project management for engineering, business and technology. Taylor & Francis.
  • Peters, C., Blohm, I. and Leimeister, J. M., 2015. Anatomy of successful business models for complex services: Insights from the telemedicine field. Journal of Management Information Systems. 32(3). pp.75-104.
  • Pinto, J. K., 2015. Project management: achieving competitive advantage. Prentice Hall.
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