Managing Successful Business Project Assignment - Marks and Spencer & Uniqlo
Added on 2020-12-09
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MANAGING ASUCCESSFUL BUSINESSPROJECT
Table of ContentsINTRODUCTION...........................................................................................................................3Research Background.............................................................................................................3P1 Aims and Objectives.........................................................................................................4P2 Project management plan..................................................................................................5P3. Work break down structure and Gantt Chart...................................................................7................................................................................................................................................8P4 Research methodologies....................................................................................................8P5 Analysis...........................................................................................................................11P6 Recommendations...........................................................................................................20P7 Reflection........................................................................................................................21CONCLUSION..............................................................................................................................22REFERENCES..............................................................................................................................23
INTRODUCTIONThe theme of the below research is globalisation. Globalisation refers to the process ofinteraction and integration among people. By some, it is considered as a form of capitalistexpansion which entails the integration of national and local economies. It is seen to be growndue to the advances in communication and transportation technology. The topics covered in thereport includes identification of the risks and benefits of joint business ventures in order to enterthe international markets. The chosen organisation for the study is Marks and Spencer andUniqlo. Marks and Spencer is a major British multinational retailer headquartered inWestminster, London. Uniqlo is a Japanese casual wear designer, retailer and designer. The firmis headquartered in Yagamuchi, Japan (Humphries, 2017). The report discusses in what mannerMarks and Spencer can successfully enter into the market of Japan by venturing with Uniqlo. Itexplores the risks and benefits the organisation will be facing and the important strategies anddevelopment required to successfully enter into joint-venture. Research BackgroundIn the era of globalisation, it has become important for the companies across the world tobe a part of joint venture in order to achieve their business objectives. Important benefits andrisks are identified of a joint business venture to enter international markets. The chosencompanies are Uniqlo and Marks and Spencer. It is important for these companies to growthemselves on large scale in order to achieve their set business objectives. Marks and Spencerwants to enter into the market of Japan and it will venture with Uniqlo to sell its products andservices. The report will do research on both of the company's business environment to evaluatethe importance of growth and development happening within these organisations. It will help anindividual to understand the nature of joint venture businesses and how effectively these businesscan be brought into operation to achieve set growth and success (Ledford and Gast, 2018). Alongwith it, the research will evaluate the importance of decision making while entering into theinternational markets and how one can achieve set growth and development as per their ownneeds and developments. P1 Aims and ObjectivesAim: The aim of the study is to analyze the risks and benefits of joint business venture whileentering into Japan - A case study on Marks & Spencer and Uniqlo.
Objectives:To determine the risk factors for joint-venture business in Japanese marketsTo determine the benefits of joint-venture business while entering into the internationalmarket of JapanTo understand how Marks & Spencer by venturing with Uniqlo can achieve its businessgoals and objectives successfullyTo determine what are the core requirements for these organizations to operate into joint-venture businessesTo analyze in what manner effective strategies can be developed by these organizationsto achieve set growth and development in joint venture businessesResearch Question: What are the associated risk factors for joint-venture business while entering intointernational markets?What are the benefits of entering into the market of Japan for joint-venture businesses? How organization can achieve set goals and objectives with the help of joint venturebusinesses?In what manner effective strategies are developed by the organization to gain mostbenefits from the joint-venture business? RationaleThe reason behind choosing the topic the risks and benefits of a joint business venture toenter International markets for Uniqlo and Marks and Spencer is to evaluate the importance ofjoint venture business. Globalization has made organizations across the world to enter into newmarkets and without joint-venture it is not possible for the organizations to do so. It has becomeessential for companies like Uniqlo and Marks and Spencer to grow their business in order toachieve set growth and development. The idea of joint-venture allows the businesses to gain new market advantage anddevelop needs which are as per their customers movement and their own set goals. It is importantfor the organization to make use of effective business plans in order to enter into joint-venturebusiness (Robson and McCartan, 2016). Without effective planning it is not possible to ensure asustainable joint-venture business and gaining better growth and advantage. It becomes hard forthe organizations to newly become a part of the joint-venture businesses and adapt into an
environment where growth is not promised. The report will discuss those various advantages anddisadvantages which can take the organization and its goals further. Along with it, it puts light onin what ways better growth can be achieved within the set business environment. It also explainsthe various researches being done in order to achieve better organizational advantage and tobring set growth to the organization. Important discussions are made in the report to evaluate theimportant decisions required while entering into the international markets. Along with it, itevaluates in what manner effective controls and restriction can be put to achieve desired growthand success. P2 Project management planProject management Plan is formal document which consists about the way differentactivities will be executed during the investigation (Joint Venture Business Opportunities, 2017).It covers different aspects of research project such as risk, costs, quality, communications etc. Allthese factors are very much essential to be considered by project manager as these componentsare very much important in order to accomplish desired outcomes. Project management plandescribes the different phases of the research project. It is the plan which provides projectmanager an ease in monitoring the progress and helps them in ensuring that all the activities areperformed according to the set standards.Cost: It is basically expenses which are generally associated with execution of theresearch. High amount of costs is associated with making arrangement for collection of the datarelated to the topic (Silverman, 2016). Some expenditure associated with the execution ofresearch project are traveling expenses, purchase of stationery, salary of project manager as wellas other member, communication costs etc. In context of present study budget has been preparedby project manager in order to control the flow of money and to complete research project inefficient manner (Ledford and Gast, 2018).The overall research costed £5,000 pounds. In orderto expand into the market of Japan, Marks and Spencer requires an investment of £250,000pounds.Scope : This element in the project management plan defines the key deliverable as wellas milestones that are to be accomplished. The present research has limited project scope. Thescope will help the organization to determine the efficiency of joint-venture business. Along withit, it is going to explore in what ways they can gain better advantage in selling of their productsand services on a international level.
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