The objective of this report is to evaluate the influence of digital technology over the operational and functional practices of an organisation. In context of a small business, digital technology will assist in business expansion process. The analysis over the topic is determine below:
- Evaluate the project aim, objective and timeframe based on the theme of this project.
- Construct a small scale research by considering information and data gathering practices.
- Provide recommendation and conclusion based on the outcomes of this project.
- Design a reflection upon overall analysis of this project.
Digital technology gives an adequate support to small or medium sized organisation to achieve competitive advantage and attain strong position in competitive market world. Digitalisation not only brings advantages to company but help employees in increasing their efficiency level (Nicholas and Steyn, 2017) . There are limited number of resources thus required to utilise them in an optimum manner and it can be possible though using advanced and digital technology. The present assignment is based on Rowlinson Knitwear, a UK small-sized company which deals in providing clothing products for particular segment which is students and corporate professionals. Due to this, the company has attained limited market share of United Kingdom. The project includes the management project plan, different methods of conducting research and recommendation to draw a valid conclusion from the information collected through research.
P1: Aim and objectives of project
The main objective of project is to use digital technology in achieving growth and expansion of Rowlinson Knitwear through providing quality products and services so as to maximise the satisfaction level of targeted customers. Digital technology enhances the capabilities of small business enterprise to reach their products and services into market world through using new and innovative tools and techniques. It will contribute more in the expansion of business which help company in increasing their profit margin as well. Digital technologies consist of various modern and advanced techniques and tools which brings efficiency in the quality of work done by employees. Using MIS help company in storing all relevant information about employees, targeted customers, stakeholders, competitors’ strategies etc. which will further help them in making an effective decisions and suitable plans to bring beneficial result to company (Gareis, 2010). Digital technology also make communication easy in an organisation due to which the managers and employees can easily communicate with each other and get adequate support from them in achieving desired goals and objectives within limited period of time. Therefore, it must say that digitalisation always bring positive outcome to company if successfully implemented by the management of an organisation.
TOPIC: Impact of digital technology in expansion of small companies
Background of project
It is essential requirement for every business organisation whether small, medium or large to adopt digital technology in their working procedure which help them in increasing their potential and capabilities to operate business more effectively. Small-sized company such as Rowlinson Knitwear mainly focuses on implementing such advanced technology with an objective of expanding their area of operations so as to capture large market share. Nowadays digital technology has given more priority by companies as compared to the earlier time period. During research, there are many influencing factor which affects their expected outcomes due to which digital technology has been adopt in order to identify such factors and risk associated with research activities and accordingly tried to eliminate such factors in more effective and efficient manner (Wikström and et. al., 2010) . Formulation of plans and strategies regarding expansion of business for example using online technology will help increasing their sales figure and generate huge revenues as it provides an option to the customers to buy products without reaching physically to the store of company. Rowlinson Knitwear is small-sized company of UK which deals in manufacturing and selling school and corporate wear garments to the people of United Kingdom. As it operates business within UK thus captures limited market share. Therefore, the management always looking out to expand their business to outside of the United Kingdom which can be possible through using Digital technology. Therefore, the management should require preparing a budget for adoption of digital technology so as to implement them more successfully.
Use of digital technology in expansion of small business organisation
Growth and expansion of business in market
- Evaluation of effectiveness of digitalisation
- Requirement of business transformation
- Impact of digitalisation in growth and expansion of small business?
- How to use different tools and techniques of digitalisation?
P2: Project management plan which covers the aspect of cost, scope, time, quality, communication and risk
It is very important especially for small and medium sized organisation to make an effective future decisions and plans in order to achieve competitive advantage and attain strong position in market for longer period of time (Crane and Matten, 2016) . For this, the management should require to direct and guide the workforce to understand their roles and responsibilities allotted to them and motivate them to find out new and innovative ways to complete allotted task with utilising resources in an optimum manner. There are several aspects or elements which directs management to consider before executing business activities. Such aspects include cost, time, quality, risk and communication which plays an important role in getting success. The main aim of Rowlinson Knitwear is to expand business operations through using digital technology. Therefore, following elements need to be consider first to achieve desired aim:
Scope of project: The scope of project management plan is to identify the main objective of business organisation with the purpose of making an effective policies and plans according to the needs and requirements (Meskendahl, 2010). It indicates that the main motive of implementation of digital technology is to bring efficiency in work due to which the company can achieve growth and success in market for longer period of time. For this, the management of Rowlinson Knitwear directs their employees to bring out new and innovative ideas which can bring profitable outcomes to company.
Management of risk: Every project executed in future contains risk due to which the management is liable to forecast and identify the risk through using digital technology and on the basis of which further actions to be implemented (Winch, 2010) . Such risk may be related with increasing operational cost, lack of employees support, inadequate amount of resources etc. Such risk should require to control and handle by management in more effective and efficient way so that such risk cannot harm and interrupt future project activities.
Quality control: Rowlinson Knitwear deals in manufacturing clothing products in standard quality due to which the company can attract large number of customers Thus, to maintain their quality it must required for management to adopt an advanced and digital technology which help in reducing cost of production through minimising the wastage of resources. This will help company in increase profit margin which is good sign for company to achieve growth and expansion.
Cost: The cost incurred in implementation of digital technology is high due to which it requires company to have adequate amount of funds if want to expand its business to large scale. The promotional tools and techniques also required huge amount of funds which help company in advertising their clothing products to different nations in order to attract particular segments. Thus, the overall cost of project is become very costly.
Time: It includes the time invested in executing project activities more effectively and efficiently (Breese, 2012). The management is held liable to prepare as schedule and allocate time for completion of each project activity which brings motivation among employees to work hard and do more efforts in achieving desired target within pre-determined period of time. It will ensure in getting profitable outcomes.
Communication: Without coordination and communication, implementation of digital technology become not successful as it requires adequate support from co-workers and managers to learn how to use digital technology in more effective way so as to achieve better possible result. Defining roles and responsibilities to each employee and teach them about utilising of digital technology which will help in maintaining good relation with employees due to which the maximum support are received by them (Thamhain, 2013) .
All such aspects are essentially required to consider by the management of Rowlinson Knitwear in making an effective management plan. This help company in getting long-term advantages due to which the company can easily achieve competitive advantage among their rivals.
P3: Work breakdown structure and Gantt chart provide stages for completion
There is huge role of research in collection of data, ideas, views of consumers
P4: Small scale research by use of qualitative and quantitative methods
There are various methods with the help of which research can able to carry out an effective research so as to achieve desired outcomes in near future.
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