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TQT 150 Unit 3 Managing a Successful Business

663 Downloads I Published: 30 Mar ,2020

Introduction

Managing a successful business is a difficult task so to run a business in an effective manner it is required lot of skills and potential. As the time has lapse many technologies have evolved that is assisting an organization in providing better services and facilities to its customers (Alotaibi and Liu, 2014). Most of the firms have upgraded their systems according to the latest trends and market situations. Oracle Hospitality Opera Cloud Service is one of the leading companies that work for providing excellent services in context with hospitality. It is also known giving platforms for hotel operations. This report will throw light on aims and objectives for the company so as to develop a project management plan that will give an overview on cost, scope, time, quality, risk, communication and resources that are related to the organization. Apart from this, work breakdown structure and a Gantt chart so as to give time frame and stages of completion is included in this assignment. Therefore, a qualitative and quantitative research is also mentioned in this report. Lastly, analysis and recommendations will be provided in order to conclude a valid conclusion.

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Task 1

P1 Project aims and objectives

Developing of new technologies always provides maximum benefits to its customers and company as well. By implementing fresh technology it enables organization in delivering excellent quality products and goods. Therefore, according to recent time most of the firms are moving forward and adopting the concept of using modern tools and machineries for effective growth. Thus latest and new marketing trends are given importance instead of traditional method. Apart from this, implementation of fresh technologies it is providing job opportunities to maximum number of people along with it is assisting the organization in having proper interaction between employees and superiors. As a result, it is helping the organization in maintain healthy relations within all the members who are working in the same company. Henceforth, in context with Oracle Hospitality Opera Cloud Service, new tools and technologies is providing them in operating their business in an effective manner. As this is assisting the organization in maintain a transparency between their workers and subordinates so that they can share their views and thoughts and hesitation. New system is helping them in maintaining the record and data for a longer period time along with this it is providing security so that no information gets leaked.

Topic: to determine the effectiveness of digitalization in order to operate their business in a company.

Background of the project: With the change in course of time, new and innovative technologies are assisting the organization in attracting more and more customers towards their company as it is enabling them in manufacture the products as per the wants and needs of consumers. Therefore, Oracle Hospitality Opera Cloud Service is providing excellent facilities to its clients. For example: if any customers want to avail the services provided by the organization than they can simply go to internet and book services according to the preferences and choices. Therefore, as compared to earlier times now people can easily gain the amenities in just one click. Thus, it is less time consuming and all the information related to Oracle Hospitality Opera Cloud Service can be easily accessed through internet. Henceforth, the company is utilizing various tools and technologies like social media, internet, newspaper, magazines and many more in order to provide information to maximum number of customers related to the services company is giving (Pearlson, Saunders and Galletta, 2016). Thus, for attaining a better position at market place all the employees and subordinates are working together as a result it is helping them in achieving their goals and objectives.

Aim: Optimizing new tools and technologies in order to make some changes in the activities of business

Objectives:

  • To identify the effectiveness of implementing digital technology in a company.
  • To estimate the proper utilization of technologies in business operations.
  • TO evaluate the business transition according to the requirements.

Research Questions:

  • How to identify the effectiveness of implementing digital technology in a company?
  • Methods to estimate the proper utilization of technologies in business operations?
  • How to evaluate the business transition according to the requirements?

P2 Project management plan that includes cost, scope, time, quality, communication, risk and resources

Proper planning is required if a company wants to run their business effectively. Therefore, planning can be said as a blue print that organization can follow so as to attain the set targets and objectives in limited time period. Thus, the role of project manager is very important as they are the one who go through with all the factors that can before formulating the strategies so that negative elements can be eliminated. Oracle Hospitality Opera Cloud Service, to hit their targets they are using latest tools and technologies that are according to the current market situations as a result it is providing them maximum benefits in return. Therefore, a manager of this organization is optimizing some of the points before, implementing the fresh strategies and these are mentioned below:

Scope of Project: With the increase in the expansion of market area and level of competition in rising. Therefore, an increase in job opportunities can be seen in various fields of the job. Hence, because of the intensity in business it has became mandatory that all the companies provides services according to the needs and demands of customers so that they can sustain superior position at market area. Therefore, Oracle Hospitality Opera Cloud Service is providing all its facilities not only with the help of offline medium but also giving online services for the same.

Risk management: It is not possible that every organization will have profit for a long term; they may face some of the other problems which are important to be considered so that it can be eliminated before it gets worse. Therefore, managers of Oracle Hospitality Opera Cloud Service are determining all the factors that can hinder the performance of whole business operations. Thus, it will help them in reducing the chance of risk factor for an organization.

Quality Control: To sustain in the market for longer period of time it is necessary that whatever company is manufacturing is of high quality so that it can win the loyalty of customers. Therefore, services that are provided by Oracle Hospitality Opera Cloud Service can be easily avail by the consumers as in their offers they are considering the choices and preferences of guest and accordingly company is giving hospitality services. Hence, before implementing these services they are concerning their experts so that organization can know its effectiveness.

Cost and time: This is considered as an important factor that company must determine, if the company will have ample amount of resources and money than it will enable them in providing good quality of services and facilities right on time. Therefore, it will help them in sustaining a better position at market area.

Communication: It is an important factor, as Oracle Hospitality Opera Cloud Service is a company that deals in hospitality for them it is important that they utilizes latest tools technologies so as to have a healthy relation with both customers and employees as well (Maylor, Blackmon and Huemann, 2016.). Therefore, this medium is commonly used for resolving the problems in an effective manner so that all the doubts are cleared.

Henceforth, Oracle Hospitality Opera Cloud Service is considering all the factors that are mentioned above before initializing any of the plan or strategies. Thus, Oracle Hospitality Opera Cloud Service has implemented strategies that can be easily changes with the change in course of time.

P3 Breakdown structure and Gantt chart so as to know the provided time frame and stages of completion

Research that is conducted by a researcher so that he/she can get additional information regarding the project so that it can be completed by using a valid reason. Therefore, getting a better result they optimize all the resources that are available to them so that researcher can gain adequate knowledge which they can use for final outcomes. Apart from this, it shows proper path to researcher and by following that they can accomplish the task in an effective manner. Therefore, monitoring on a regular basis they can evaluate whether the resources which they have used are applied in a better way or not. This will help the organization to take their business operation in forward direction. Henceforth, having proper knowledge about the field also assist them in carrying out their operations in an effective manner by understanding the requirement of the same. Therefore it assists the organization in working in a systematic way. Some of the steps that are essential for accomplishing the task in an appropriate manner are given below:

  • To evaluate the cause for determining the research.
  • Literature review
  • Elucidation of issues.
  • Preferences of suitable respondents for completing the research in a better manner.
  • Clarify the instrumental plan
  • Data analysis

Therefore, the research that is conducted includes some of the basic activities that are according to the transformation of digital technology. Hence, it is essential that the information that are collected are as per the relevant topic. Henceforth, Oracle Hospitality Opera Cloud Service, while going through the whole process has followed all the steps so as to get relevant information about the research. Thus, for expanding their business in an effective manner they are implementing latest tools and technologies along with the innovative ideas regarding the changes they want to do in order to attract more and more customers towards their company (Storey, Basterretxea and Salaman, 2014). For example: organization has launched their own application from where customers can avail their services under less time period. In literature review, the researcher is going through the knowledge which they are having so that it can be applied in future proceedings. In order to run a business in an effective manner feedbacks and reviews also plays a crucial role as it will help them in knowing the value of their product in front of its consumers. Total 20 numbers of respondents have been chosen so as to conduct the research in a proper manner. Therefore, all the gathered information is utilized to get final outcomes so that it can be validated.

Tools that is used for the better conduction of the research is questionnaire i.e. considered as the basic tool in which 10 number of questions was developed along with the preferred choices so that suitable options can be marked by the respondents. Further it will be used for analyzing the research in an effective manner.

Task 2

P4 Carrying out the task with the use of Qualitative and quantitative research methods for attaining project aims and objectives

It is more important for business organization to carry out and effective research by using appropriate methods which may leads in attaining sustainability for long period of time at market place. For this researcher use two type of methods like primary and secondary as well (Upward and Jones, 2016). Both are more effective for collecting relevant information towards the company products and services. Along with this, Oracle Hospitality Opera Cloud Service use both methods for collecting relevant information. This will aid in providing better satisfaction level to its customers. Furthermore, there are some another method like quantitative, qualitative and analytical for gathering as well as collecting information. In addition of this, qualitative and quantitative methods used by company to capture valid data and information.

Primary data: It is one of the effective method in which all the authentic data grab by researcher which is not used before. With the help of this researcher easily take better decision and make valid conclusion in systematic manner.

Questionnaire

Name:

Age:

Contact Number:

Email id:

Q 1) Does concept of digitalization provide competitive advantage to business organization?

  • Yes
  • No

Q 2) Concept of digitalization provide any kind of profit to business organization?

  • Yes
  • No

Q 3) Is digitalization define positive impact within the firm?

  • Yes
  • No

Q 4) Does business organization use concept of digitalization as per market change?

  • Yes
  • No

Q 5) Is making alternations are important for company for its operations?

  • Yes
  • No

Q 6) Is company having proper fund for storing all the data and information?

  • Yes
  • No

Q 7) Is another significance of digitalization concept on business organization?

  • Positive
  • Negative
  • Cant' say

Q 8) Is partnership is necessary for business organization to reduce the chances of red tapism?

  • Yes
  • No

Q 9) Which type of marketing modes used by company to promote their services?

  • Modern marketing
  • Traditional marketing

Q 10) Recommendations for business organization to implement in digitalization? 

 Secondary data: It is also an effective resource of collecting data and information. This type of method helps in formulating and effective strategies to attain set goals and objectives in most effective manner. It includes newspaper, articles, journals, magazines and many more for gather relevant information.

Task 3

P5 Evaluation of research and data with appropriate tools and techniques

It is important for researcher to make an effective research in order to attain better results. In this Oracle Hospitality Opera Cloud Service easily gather relevant data which may lead in drawing a valid conclusion in effective manner.

Theme 1: Concept of digitalization provide competitive advantage to firm.

Q 1 Does concept of digitalization provide competitive advantage to business organization?

Frequency

Yes

18

No

2

Interpretation: From the above mentioned graph it can be summarized that, 18 people are said that concept of digitalization define better competitive advantage in which firm improve their productivity level by producing quality services for its customers

Theme 2: Digital technologies help in providing benefits.

Q 2: Concept of digitalization provide any kind of profit to business organization?

Frequency

Yes

17

No

3

Interpretation: From the mentioned graph, it can be concluded that 17 respondents are agree with this statement that digital technologies are more beneficial for business organization to maximize overall profitability level at market place. 

Theme 3: Digitalization define positive impact.

Q 3 Is digitalization define positive impact within the firm?

Frequency

Yes

19

No

1

Interpretation:  As the given graph, it can be assessing that, number of people are said that concept of digitalization provides positive impact in which company enhance their profitability level and also attain larger market share form its rivals

Theme 4: Company use digital technologies as per current market trends.

Interpretation:  As the given graph, it can be assessing that, number of people are said that concept of digitalization provides positive impact in which company enhance their profitability level and also attain larger market share form its rivals.

Q 4 Does business organization use concept of digitalization as per market change?

Frequency

Yes

15

No

5

Interpretation: From the above mentioned graph it can be summarized that, 15 people are said that effective use of digitalization concept helps in attaining better success at market place and also create better customers base.

Theme 5: Alternation is important for business organization.

Q 5 Is making alternations are important for company for its operations?

Frequency

Yes

4

No

16

Interpretation: From the given graph it is examine that company should make effective alternatives to modify their existing activities and in this 16 people feels that alternations may aid in improving their performance level and profitability as well. 

Theme 6: Proper funds required by company

Q 6: Is company having proper fund for storing all the data and information?

Frequency

Yes

12

No

8

 Theme 7: Future impact of digitalization concept on business.

Interpretation: From the above mentioned graph it can be concluded that, proper fund is more important for business to implement as well as formulate effective operational activities. In this 12 proper are agree with this statement that enough fund is help in manufacturing quality services as per customers demands.

Q 7: Is another significance of digitalization concept on business organization?

Frequency

Positive

10

Negative

5

Can't say

5

 Interpretation: As per above graph it can be concluded that, 10 respondents are said that concept of digitalization provide positive impact on business organization in upcoming time frame for attaining better success.

Theme 8: Impermanent is beneficial for company for reducing the red tapism.

Q 8 Is partnership is necessary for business organization to reduce the chances of red tapism?

Frequency

Yes

14

No

6

 Interpretation: As per above mentioned graph is has been examine that, 14 people are agree with this statement that working in partnership may help company to reduce the red tapism in order to enhance profitability level at market place. 

Theme 9: Effective promotional activities for company

Q 9: Which type of marketing modes used by company to promote their services?

Frequency

Modern Marketing

18

Traditional Marketing

2

Interpretation: From the above mentioned graph, it can be concluded that 18 people said that company should use modern marketing for enhancing their overall sale as well as profitability level at market place.

P6 Appropriate recommendations in context with research in order to draw valid conclusion

As a famous business organization it is important for Oracle Hospitality Opera Cloud Service to enhance their positive brand image at market place by servicing their quality services to its customers as per their needs. Along with this, business organization also wants to expand their business activities by using online platform. With the help of this they easily reach to various people and provide them better services. In this they use social media, internet and many more which may lead in capturing customer’s attention and market share as well. Along with this, it is also important for manager to formulate effective marketing strategies as well as policies in order to attain better customers base by providing them quality services. Furthermore, Oracle Hospitality Opera Cloud Service also use effective cloud transfer in which they easily save number of data and information which may lead them for future time frame. With the help of this company attain better results at market place.

Task 4

P7 Reflection on the value of undertaking research to meet objectives

At the time of conducting research, number of issues and obstacles are faced by researcher so that it is important for them to easily assess and manage for attaining positive outcomes. In this context the main issues are time and cost which faced by them while executing research activities. So that it is one of the important duty of project manager to evaluate as well as formulate appropriate strategies and project management plan to reduce the chances of arising issues and obstacles. Dur to less time researcher take 20 people as well as respondents for getting their views and opinion in appropriate way. On the other side improper fund is also an another issues in which researcher fails in operating its activities in effective manner. For this project manager use online as well as social media platform to gather relevant information which may leads in reducing the overall cost of the project and also attain positive outcomes.

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Conclusion

From the above report it can be concluded that, for managing a successful business it is important to know the factors and elements that can affect the business operations directly or indirectly. Therefore, for doing the same a research is being conducted so that flaws and positive essentials can be evaluated. Thus, before implementing such activities it is necessary that all the factors like geographical, environmental, economical conditions are considered. This will assist the organization in having growth in their business operations and this will gradually help them in attaining superior position at market area for a longer period of time.

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