Analyzing the Positive Impacts of Globalization on Business Functions: A Case Study on AVIVA plc

Managing a Successful
Business Project

Contents
TITLE..............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Design aims and objectives....................................................................................................1
Literature Review.............................................................................................................................2
Brief explanation of PMP by including time, scope, cost, communication, time, quality and
resources.................................................................................................................................4
Discuss Gantt Chart and WBS...............................................................................................6
TASK 2............................................................................................................................................9
By using qualitative and quantitative approaches suitable for accomplishing set standards
small scale research is conducted...........................................................................................9
TASK 3..........................................................................................................................................11
Evaluate research and data by using different tools and techniques....................................11
Recommendations................................................................................................................18
TASK 4..........................................................................................................................................19
Reflection.............................................................................................................................19
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................21

TITLE
“To analyse the positive economic, cultural, and ethical impacts of globalisation on the
different functions of business like operations, marketing, HR, accounting within the
organisation”. A case study on AVIVA plc.
INTRODUCTION
Globalisation refers to the increasing interdependence of world's culture, economics as
well as population by doing international trade in technology, goods and services, people,
investment and information (Basu, 2015). It is termed as a interconnectedness of business as well
as people over the globe which leads the global integration of economic, political, culture and
ethical which positively impacts on the several business functions. Globalisation facilitates better
competitive positions along with the lower cost of operating as well as gain attraction of
maximum number of customers. For this assignment AVIVA plc is chosen which is a British
multinational company that headquartered in London, United Kingdom. As it is a leading general
insurer, leading life and pension providers that was founded in 2000. in this report, aim of
research is to examine the positive impacts of internationalisation on various business functions
for which a researcher prepares aim and objectives and prepare project management plan by
considering several aspects. Work breakdown structure an Gantt chart is also used for preparing
timelines for project completion and use qualitative and quantitative methods of research will be
used for gathering information on this topic. Thus, researcher made appropriate
recommendations on the impacts of globalisation and facilitate reflection on skills and
knowledge.
TASK 1
Design aims and objectives
Project overview:
Research project is based on the impacts of globalisation that positively influence the
different functions of business or AVIVA plc and these are in terms of economic, political,
ethical and cultural. It helps in minimising the operating cost and create flexible environment at
workplace and operates all the business functions effectively (Frankenberger, 2016). This will
assist AVIVA plc to analyse the positive results if globalisation on the operations of various
business functions such as HR, accounting, operating and marketing.
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This research will help Vodafone Group to analyse the issues, challenges and measures to meet
them also the extent to which it can influence the organisational culture.
Overview of AVIVA Plc:
It is considered as a British insurance company that has around 33 million customers
across in 16 nations and it is considered as a largest company of insurance that serves across the
globe. As of 2020, AVICA plc have employed around 31700 workers in order to facilitate
different services to their customers such as life insurance, pensions and general insurance.
Aim of the project:
The main aim of the project is to analyse the impacts of globalisation in terms of
economic, cultural and ethical that positively influence the functions of business such as
marketing, accounting, human resource and so on.
Objectives of project:
Some of the objectives of research report that need to be accomplished by the researcher
are as follows:
 To develop a basic understanding about the globalisation.
 To ascertain positive and negative impacts of globalisation on the various functions of
AVIVA plc.
 To evaluate several strategies that can be used by AVIVA plc in order to minimise the
negative impacts of globalisation and success in the competitive market.
Questions:
 What do you mean by globalisation?
 What are the impacts of globalisation and how it impacts on the different functions?
 What kind of strategies can be formulating by the AVIVA plc in order to get success in
the competitive market and remain competitive?
Literature Review
Basic understanding about the globalisation
According to Plessis, globalisation describes the interdependence of the economies of the
world, their culture and population on each other as it has allowed cross border trades for various
goods and services, the flow of investment, the flow of technology, easier movement of people
and information. Different countries enter into economic partnerships with each other with the
aim to facilitate the development of their economies. The effect of globalisation is considered to
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be complex and politically influenced because they have a direct impact on certain groups which
are existing and operating in a country. Due to globalisation the interconnectedness and
interdependence of the countries on each other increases. This can have both positive and
negative impacts on them. One of the most visible impacts of globalisation is an increase in the
economic exchanges and trade among the countries. To facilitate this various free trade policies
are also accelerated. In addition to this globalisation has an impact on the culture as well, such as
coffee is considered to be from Ethiopia but is consumed throughout the world. It may lead to
cultural loss, economic loss to the in-house companies as well as adverse consequences on the
environment. But for the overall development and to ensure success it is important to expand
business operations and to adopt the changes in the wider business environment.
Impacts of globalisation and how it impacts on the different functions
According to Ramachandra, globalisation has offered various advantages to the companies
and the economies as it enables them to either shift to the mass production or to offer customized
and value-added products to the growing customer base. The globalisation has expanded the
market with which the organisation can become productive and profitable but to cope up with
this they need to restructure their processes and offerings. It has shifted the focus towards the
infrastructure, technology, methodologies used by the companies as with the improvement in
these factors the organisations can easily manage the change. With the inflow of the funds as a
foreign direct investment, the level of competition has increased because businesses are provided
with more funds. Also, it allows businesses to enter the market. Such investment put various
challenges before the companies like adoption of new technology which has an influence on
existing human resources of the organisation as they may not be competent enough to adopt the
technology. Due to this, the companies need to arrange training sessions for them which increase
their overall cost. On the other hand, it offers various opportunities for the employees to grow
and develop efficiently coping up with the changes. Managing the increased competition leads to
improvement in the existing processes through which the quality of the offerings will
improve which ultimately satisfy the needs and want of the customer. This increases the roles
and responsibilities of the production department along with managing the economies of scale
they also have to manage the quality of the offerings. With this, the company can make their
product competitive against other companies throughout the world.
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Strategies used to minimise the negative impacts of globalisation and success in the competitive
market
According to George, globalisation has a various impact on the organisation as well as on
the economies which has to be managed by them effectively by formulating various strategies
and taking necessary actions. The organisations for reducing the adverse impact must take into
consideration the competition by analysing the upstream and downstream vendors, capabilities of
the organisation, resources held by them, and many more. With the globalisation different
companies enter into the existing market and to deal with them various strategies such as making
the workforce compatible, conducting research for the market, analysing the customers behavior,
etc. must be focussed upon. By providing sufficient training to the Employees they can be made
capable of managing various changes within the organisation. The analysis of the market in
terms of impact of various internal and external factors on the operations of the organisation,
along with the prevailing competitive situations must be undertaken so that its influence can be
identified and reduced. Accordingly, various strategies to manage such impacts can be
formulated. Apart from this strategy of taking customer feedback must be emphasized as the
globalisation has an impact on their taste and preferences as well. With this, the company can
offer their product and services as per their needs and wants which will help them to be
successful in the competitive market.
Brief explanation of PMP by including time, scope, cost, communication, time, quality and
resources
Project management plan is termed as a process in which various phases are involves such as
initiation, design, organising, monitoring as well as controlling and closing of project activities
that is to be completed in an effective and efficient way (Kiessling, 2018). It is an essential
requirement for ensuring that project planning and direction for the achievement of strategic
objectives as well as targets. It is related to the scope, risk, quality, cost, communication and so
many aspects that are essential while planning and managing a research project.
Some of the measures of project management plan are discussed with respect of
researcher and AVIVA plc are as follows:
Cost: It is the most essential consideration of every kind of activities as it considers the
approximation of overall project which should be required to accomplish goals and objectives
effectively. It is necessary for both researcher and manager for which investigator estimated the
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