Impact of Globalisation on Tesco - Assignment
Research Project on a chosen topic in the field of Business, to be completed by 07/06/2019.
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Added on 2020-10-05
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Globalization is the movement of human beings, goods, and services across different countries. However, this mobility is managed in an integrated manner. Similarly, it could be view as a strategy to open the worldwide economic system as well as the connected growth in international trade.
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Impact of Globalisation on Tesco - Assignment
Research Project on a chosen topic in the field of Business, to be completed by 07/06/2019.
Added on 2020-10-05
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RESEARCH PROJECT
Table Of ContentsTOPIC:.............................................................................................................................................3INTRODUCTION...........................................................................................................................3Research Background.............................................................................................................3RATIONALE.........................................................................................................................3Aim and Objectives................................................................................................................4Aim:........................................................................................................................................4Objectives:..............................................................................................................................4Research Questions................................................................................................................4LITERATURE REVIEW................................................................................................................5Recent trends of globalization................................................................................................5Advantages of being a global business...................................................................................5Challenges faced by the firms due to globalization................................................................6Combating barriers of globalization in retail industry...........................................................6RESEARCH METHODOLOGY ....................................................................................................7Research Type........................................................................................................................7Research approach..................................................................................................................7Research Philosophy..............................................................................................................8Research Design ....................................................................................................................8Sampling.................................................................................................................................8Data collection........................................................................................................................9Data analysis...........................................................................................................................9Data analysis and interpretations.....................................................................................................9RESEARCH OUTCOMES, REFLECTION & RECOMMENDATION FOR ALTERNATIVERESEARCH METHODOLOGY...................................................................................................24REFLECTION......................................................................................................................24RECOMMENDATION........................................................................................................24CONCLUSION..............................................................................................................................25REFERENCES .............................................................................................................................26
TOPIC:INTRODUCTIONResearch BackgroundGlobalization is the movement of human beings, goods, and services across differentcountries. However, this mobility is managed in an integrated manner. Similarly, it could beview as a strategy to open the worldwide economic system as well as the connected growth ininternational trade (Beck, 2018). As a result, whilst the countries that have been formerly close tooverseas investment and exchange have now burnt behind boundaries. Moreover, Globalizationobjectives are exalted, in addition to opportunistic, however the development of a global markethas benefited massive businesses based inside the Western world. Further, its impact staysintermingled for employees, cultures, and small corporations around the world, in each advancedand rising international locations. However, due to globalisation, companies are able to sellproducts and services to large number of people worldwide. Furthermore, the advancement in technology help the customer to purchase productsonline which directly increases the revenue and profits of the company. On the flip side,globalisation help to interconnect the economies of different countries by exchanging productand services internationally (Hirst, Thompson and Bromley,2015). However, the research reportwill highlight the impact of globalisation on Tesco which is international retail industry thatprovide variety of products and services like groceries, clothing, electronics, toys, furniture,financial services etc. Furthermore, it's far the 3rd biggest store within the world measured byway of gross revenues and ninth largest merchandiser in the global measured via incomes and itowns retail stores in seven countries across Asia and Europe, and is the market leader of foodmarket inside the UK, Ireland, Hungary and Thailand. However, due to globalisation Tesco haveexpanded its operations in all over the world with operations in 11 major countries of the world.Furthermore, Tesco have introduced petrol stations, metros, superstores, online shopping etc.,further, they have also opened new banks and telecom companies in UK (Mackey and Gass,2015). RATIONALEThis research is conducted on globalisation and how it impacts the retail industry becausedue to globalisation technological advancement has been enhanced which have provided
opportunity for the companies to expand their operations and provide wide variety of productsand services. Further, it has given opportunity to customers to purchase products online ataffordable prices which is convenient and flexible for them, thus this increases the sales andearnings of the companies. Moreover, due to globalisation, international trade between differentcountries and the companies operating there have been increases which eventually enhances theeconomy of the world by developing employment opportunities in all over the world whichincreases the spending power of people by which they fulfil their necessities and enhances theirliving standard (Steger, 2017). Aim and ObjectivesAim:“To determine how globalisation can drive the companies to achieve success in retailindustry. A study on Tesco”.Objectives:To identify the recent trends of globalisation in business environment. To evaluate the advantage of being a global organisation in retail industry. To analyse the challenges face by the firms with the emergence of globalisation.To recommend how organisation can combat the barriers of globalisation in retailindustry.Research Questions11What are the ways to identify the recent trends of globalisation in business environment?11What are the advantages of being a global organisation in retail industry? 11What are the challenges face by the firms with emergence of globalisation?11What are the recommendations through which organisations can combat the barriers ofglobalisation in retail industry.
11LITERATURE REVIEWThe literature review is a technique which is used by the researchers and the scholarsgather and discuss about the information relating to the topic on which the literature review isbeing carried on. Recent trends of globalizationIn words of Mosbah - Natanson and Gingras, (2014), globalization has become anemerging and recent trends. This is so because in recent competitive world all the companieshave to earn profits and grow and for this, each and every company wants to have large marketand consumer share. For this, the companies go for global trade or international trade. Accordingto Gancia, Ponzetto and Ventura, (2016), globalization is defined as the trade which is donebetween two companies but with different geographical boundaries, that is with other country'scompany. The latest trend in globalization is that because of globalization new and latesttechnology are coming in countries which helps the companies and the country to grow anddevelop. With the trade between two distant countries, they also share the latest technologicaladvancement that one country has with another country. But De Marchi, Lee and Gereffi, (2014),states that because of global business the level of competition has increased and this has reducedthe quality of work and also the quality of products or the services produced by company. This isbecause of the reason that all companies can do anything either positive or negative to beatcompetition and to stand out of all the competitors. Also, there is another recent trend like thechanges in the labour market. This is because of the reason that due to globalization companyoperating in one country can also operate in other country. This helps the company in startingoperations in those countries where the labour cost is very low and this will benefit the companyby lowering the cost of the company. Advantages of being a global businessDoing business at global or international level is very beneficial and advantageous for thecompany as well as for development of the country as well. For instance, in context of Tesco ,major advantage that company has got is is that it has able to increase the market share andlevel of customer base to large extent. Also, the other benefit of hiring and recruiting new andadvance talent from the other countries has been gained by Tesco. On the other hand, in views ofBerggren and Nilsson, (2015), another major benefit of doing a global business is that it creates a5
chance for development of the economic condition of country as well. This is because of thereason that due to global or international business many new foreign investment opportunitieshave been evolved like investing in foreign countries' equity companies, foreign debt and manyother options. Also, there is more increase in the foreign direct investment which increases levelof economy. In the words of Nikolova, Kuporov and Rodionov, (2015), other than these, anotherbenefit of being global is to learn and explore new culture and societies. This helps the country indeveloping knowledge regarding new cultures, values, beliefs, attitudes of the new society's andcultures. Also in opinion of Parente, Geleilate and Rong, (2018), another benefit is it helps thebusiness in increasing the sales of the company because if the market share will increase thenautomatically it will increase the sales and profits (Global business advantages anddisadvantages. 2019). For example. In relation to Tesco , there has been been significantincrease in sales and profit of an organisation after expansion of business in internationalmarket. As per the opinion of Wang, Sun and Zhang (2018)increase in the capability of anenterprise to attract more number of customers is considered to be as one of the main advantageof being a global business. However , it has been argued by other authors as well as researcherthat being a global business , an enterprise can diversify its customer base as well as increase itsrevenue streams. According to the perception of Mosbah-Natanson and Gingras, 2014., the mainbenefit of being a global business is that , firm can develop strong relationship with domesticenterprises. These business partners can help organisation in increasing the firms globalinfrastructure.As per the views of author Aggarwal, (2019) the company going to take business inglobal market get assess to large pool of customers. As the product and services offered by thecompany needs to be success in the international markets. The company have the advantage tocreate new customer. The company even have the advantage of getting talented and skilledemployees from the global markets. The company is able to hire employees which were notavailable in the domestic country with the unique skill requirement in the employee. As theemployee have unique mindset and skills which helps the company to achieve its major goal. As per the views of author Tallman, Luo and Buckley, (2018) the company which isexpanding its business in international markets have the advantage of exposure to foreigninvestments. As it is beneficial for the company which are already known in the market and havereputation in the global markets. The company doing business in global markets has advantages6
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