Action Research Project (Doc)

Action Research
Project
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EXECUTIVE SUMMARY.............................................................................................................3
PART 1............................................................................................................................................4
RESEARCH BACKGROUND.......................................................................................................4
RESEARCH OBJECTIVES............................................................................................................5
RESEACRCH QUESTIONS...........................................................................................................5
CONCEPT BACKGROUND..........................................................................................................8
PART 2............................................................................................................................................9
Findings...........................................................................................................................................9
CONCLUSION..............................................................................................................................17
RECOMMENDATIONS FOR POTENTIAL BUSINESS CONCEPT........................................18
RECOMENDATIONS FOR FURTHER RESEARCH................................................................19
REFERENCES..............................................................................................................................20
Books and Journals....................................................................................................................20
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EXECUTIVE SUMMARY
BREXIT is a possibility of Britain exit from European Union that was happened on the time
period of former ruling prime minister of United Kingdom David Cameron. Overall process of
BREXIT revolves around exit of Britain form the confederation of European Union. In this
report formative discussions have been made on, research background which covers the impact
of BREXIT on every possible sector within UK including real estate market. In addition with this
research covers related research questions and research objectives along with recommendations
for potential business concept and further research. In this research investigator takes the
advantage of both primary and secondary research method to conduct research in best effective
way.
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PART 1
RESEARCH BACKGROUND
BREXIT is referred as a possibility of Britain exit decision form European Union that was
done on June 23, 2016. This decision takes place when David Cameron holds the place of prime
minister of Britain in the year 2010. This decision impacted on every possible sector of United
Kingdom economy. The main concept of this present assessment is to offer a business idea in a
successful manner that will effectively influence market of United Kingdom after Brexit( Britain
exit from the European Union). European Union is a combination of 28 different countries that
conjointly come together to build a single market in order to effectively promote free flow
movement of goods and services, labour, money and trade agreement in between these countries
those who were selected to acts as most important part in this referendum (Ramiah, 2017). One
of the major reasons to form European Union is to avoid situations of conflicts that take place in
France and Germany. When looking at the concept of Brexit it has been a referendum has been
in which citizens of UK apply to exit from the European Union. This research has been
conducted by researcher to analyse the impact of Brexit. Main focus of this research is on the
real estate industry. As fluctuations in the values of market rates impacts upon selling, buying
and purchasing pattern of customers. While looking to some supporting factors it is necessary for
Government to put their more focus in providing best qualitative services to their citizens in
order to sustain their better future. In the aspect of real estate sector fluctuations was due to
variable rates of currency and availability of effective working force. The main reason behind
researcher chosen this topic is that, government of United Kingdom is needed to formulate
numerous decisions as BREXIT impact immensely on various policies within UK. Based on
article real estate industry is facing huge issues as there are high fluctuations in currency. This
will affect citizens of United Kingdom in both negative and positive manner.
Based on a study, it has been found that 39 % individuals are largely reluctant to shift to
UK. Real estate owners found high end decrease in international buying of properties. The study
shows that estimated number of 30% real estate owners seen decrease in demand of services
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form European market and countries including, Germany, Netherlands, Italy and France. This
will result in negative impact on the performance margin of real estate owners within country.
RESEARCH OBJECTIVES
 To identify importance of free movement of real estate practises in UK
 To identify impact of BREXIT on existing real estate owners within UK
 To identify the concept of soft BREXIT
 To identify the financial violation of British pound and its impact on real estate market
RESEACRCH QUESTIONS
 What is the main feature to attract foreign investment?
 What is the importance of brining technological based platform as to alleviate and cut the
cost of middle man in real estate market?
 Will BREXIT impact the existing real estate owners within United Kingdom?
Analysis of methodology and process
In dissertation, research methodology plays critical role which will assist researcher to reach
into specific conclusion within particular time duration. Some elements which are used
within research are presented below:
Research philosophy
It refers to set of beliefs with respect to specific reality which is being investigated. In this
two different aspects are taken into consideration. First aspect includes sensitive
philosophical approach for carrying out research. Another aspect which needs to be
considered is perceptions of authors within research practices. When researchers argue in
context of aims of research then understanding of research and its philosophies is developed.
It encourages in-depth knowledge and based on that several questions arises based on
research topic. Subjectivism is a perspective through which assumptions can be made in
regards to
BREXIT’s impact on financial structure. It is necessary that researcher needs to consider
reality rather than considering what other authors are speaking about something specific
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subject. Furthermore, researchers need to make sure that results which are obtained are
credible and trustworthy.
Research approach
It is belief of researcher that qualitative research starts from inductive methodology
approach. It is emerging and naturalistic research design which must be taken into
consideration while formulating strong theoretical aspects which exists in academic
literature. Some qualitative research papers also comprises of deductive approaches which
are used for testing present perspectives. As per researchers, inductive approach is referred
to an orderly process which helps to investigate estimation of objectives.
As per some researchers, inductive research comprises of research questions which acts as
major drivers for collecting data. Once questions are formed, data is collected by researchers
with respect to impact of BREXIT with respect to financial status of country and what
impact it creates on their economy. This will assist in formulation of marketing strategies.
Apart from this, authors have also identified facts and information for development of
hypothesis. In this case, it has been observed that inductive approach will be more
appropriate.
Research strategy
This research is based on analysis which has been identified from case study. Method which
is chosen provides appropriate knowledge of research from point of view of different
authors. In this focus of researcher is on evaluation of market strategies with respect to
financial and economic status of country i.e. UK in respect to BREXIT. This assists in
assessing scope of problems and solutions.
As per views of Gamble, (2018) case studies can be used to gain insight into quantitative
and qualitative evidences; this implies that evidences can be obtained from different sources
like archival records, fieldworks, verbal reports and many others. Moreover, exploratory
research is considered for determining different dimensions in respect to research issues by
which new ideas can be generated. Different data collection methods can be used like
observations, questionnaires, archives, interviews, etc for obtaining answers related with
research problem.
Research choice
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They are well known methods are utilized by most of researchers, which includes research
questions. Furthermore, certain assumptions are made by researcher for making choices of
methodology. For this author may need to re-evaluate qualitative and quantitative
methodologies which has been designed for research philosophy, research approach and
many other essential strategies (Monfared and Pavlov, 2017). Researcher needs to make
appropriate usage of research choices so that effectual results can be obtained.
As per point of view of McLaughlin, mixed approaches should be used so that purpose
behind formulation of hypothesis is accomplished. These methods provide deep
understanding of qualitative and quantitative approaches by using techniques derived from
different sources. It has been found that arguments behaves like a key driver which can used
to make decisions with respect to which methodology can be used. This research comprises
of mixed approach from which exact or accurate information can be obtained related with
aims and objectives of research.
Using secondary data
This term is used to define data which is accumulated by others rather than researcher.
These sources include organizational records, government departments, books and many
others. In case of qualitative research organizations, corporations and companies tends to be
empirical data sources. Furthermore, cost which is involved in these projects is less than that
of primary methods. Secondary data comprises of data which has been collected for the
purpose research which is already collected and stored. Moreover, sample size of research
can be enhanced by which research objectives can be attained. Major vantage of this method
is data primary work is done, i.e. collection of data from different sources. As BREXIT is
new concept, hardly so many researches are conducted on this. As UK has voted to leave
European Union, researchers have tried to identify its impact and solutions for problems
associated with this. From above studies, it is found that research in BREXIT will furnish
great quality of secondary data as it is a major issue within UK government at present
scenario where researcher can have suitable answer related with findings.
Data collection
Researcher needs to adopt certain strategies and they are dependent on methods followed
while conducting research. In this research, qualitative strategy has been used, it is method
of collection which comprises of details of symbols, things, meaning, concepts,
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characteristics and metaphors (Schillig, 2016). By its usage hypothesis can be created in
relation to particular research. Quantitative research is carried by mathematical,
computational and statistical techniques. Therefore, major method for collection of data is
secondary approach. In this researcher will collect and analyse data in context to
documentary, articles, journals, conference papers by taking into consideration impact of
BREXIT on financial and economic status of country.
Data analysis
After completion of data collection, next step is of analysis of data. It is essential for
learning to understand knowledge of BREXIT towards financial status of UK. Narrative
analysis has been conducted by researcher to find out appropriate response is specific
perspective. Researcher will analyse data by taking into consideration such as government
documents and statistics in context of Brexit related with marketing strategies and financial
conditions. Researchers have also presented an argument which states that qualitative
research is interrelated with thematic analysis. It is form of qualitative research in which
analysis is conducted by examining, pinpointing and recording patterns of data. These points
are related with specific research problem.
Ethics
It is foremost that, every exploration which is to be carried out must be overlooked from
various ethical standards so that no issues related with society occur. By considering ethical
capacity proper plan and design can be formulated for carrying out investigation.
CONCEPT BACKGROUND
BREXIT impacted on various aspects of market industries within United Kingdom. This mainly
happens because, it has been evaluated that whole market functions of UK mainly rely on single
specialist skills form European Union countries (Hines, 2017). Along with this heavy
dependency on currency management also acts as a one of the strong reason that impact real
estate industries within United Kingdom. Major benefit of this impact is on those individuals
who live outside the UK as they will get comparatively less price of properties as UK economy
will tend to offer fewer prices as they want to strengthen its economy as compared to other.
Along with this, by attracting number of foreign investors UK can effectively able to raise their
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economic functions. While on the other hand, this impact will negatively affect individuals those
who resides in the providence of United Kingdom as in order to attract foreign investors and
offering comparatively less price from other countries individual will face loss while selling their
properties. In this research former investigation is being done on the introduction of BREXIT
and its impact on real estate market. Since the currency factor acts as a most important factor in
so in this compromise cannot be done. Along with this, BREXIT will bring migrant of
employees which turns out to be most important factor that affect effective functioning of real
estate market within UK.
PART 2
Findings
Present investigation is conducted for identifying impact of BREXIT on marketing strategies
and economy of country. This has created both positive and negative impact on UK.
Therefore, research has been conducted in which data is collected using quantitative
research method by which effective and efficient answers can be obtained. The
questionnaire has been presented below with respect to this:
1. Are aware about concept of BREXIT?
 Yes
 No
2. Does BREXIT bring threat of migrant labour restrictions in economy?
 Yes
 No
3. Do you think BREXIT lead towards international trade disputes?
 Yes
 No
4. What are main factors that may bring shortage of raw materials after BREXIT?
 Climate change
 Border control and clearance
 Customer uncertainty
5. Does BREXIT bring threat of foreign exchange instability?
 Yes
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 No
6. Do you think BREXIT will lead toward supplier financial instability?
 Yes
 No
7. Does BREXIT will bring increase in cost of distribution of product?
 Yes
 No
8. Does BREXIT affect availability of supply chain labor?
 Yes
 No
Theme 1: Awareness of BREXIT
Are aware about concept of BREXIT? Evaluation
 Yes 25
 No 5
Interpretation: From above graph, it can be interpreted that 25 respondents are aware about
concept of BREXIT whereas 5 respondents said that they are not aware about this. BREXIT is
Britain’s exit from European Union. It comprises of 28 countries which forms single market
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which promoted money, labour opportunities and trade among neighboring countries thereby
having strong impact on economy of those 28 countries. Due to lack of knowledge some people
do not have adequate knowledge about this concept.
Theme 2: Threat to migrant labour
Does BREXIT bring threat of migrant labour restrictions in
economy?
Evaluation
 Yes 24
 No 6
Interpretation: From above graph it is very evident that 24 respondents consider that BREXIT
has strong threat to migrant labour which means that job opportunities for people of other
countries will be declined. But according to 5 respondents, there will be no restrictions as they
consider that for growth of any country, it is necessary to have skilled labour and if individual
possess capabilities and skills then it will not have negative impact on opportunities present with
individuals.
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Theme 3: International trade disputes
Do you think BREXIT lead towards international trade disputes? Evaluation
 Yes 27
 No 3
Interpretation: Above graph shows that, as per 27 respondents international trade disputes will
occur as in European Union 28 countries were involved and if British will breakup agreement
then there is high possibility that other 27 countries will not opt for their products which will
have negative impact on economy of country as well as their financial status. According to 3
respondents, they feel that if quality services are delivered then disputes will not arise.
Theme 4: Scarcity of raw material
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What are main factors that may bring shortage of raw materials
after BREXIT?
Evaluation
 Climate change 3
 Border control and clearance 22
 Customer uncertainty 5
Interpretation: As per above mentioned graph, 27 respondents said that border control and
clearance will bring shortage in raw materials. Like if British will exit from EU then to get raw
material from raw material from other countries will need high documentation process and will
become time consuming process. According to 5 respondents, it depends on requirement of
customers as if they do not need products which need raw material from other countries then
these situations will not arise. As per 3 respondents, climate change will have impact on this.
Theme 5: Instability in foreign exchange
Does BREXIT bring threat of foreign exchange instability? Evaluation
 Yes 25
 No 5
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Interpretation: From above graph, it is clear that 25 respondents thinks that there will be
instability in terms of foreign exchange after BREXIT. These instabilities will lead to variations
in prices of currencies which will have strong impact on financial status of country and its
economy. As per 5 respondents there will be no instabilities.
Theme 6: Decline is stability of financial supply
Do you think BREXIT will lead toward supplier financial
instability?
Evaluation
 Yes 28
 No 2
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Interpretation: From above graph it is clear that, according to 28 respondents there will be
instability in terms of services rendered by suppliers as they will be left with only few options
that is other then these 27 countries they will be able to furnish there products which lead to
significant decline economy of country. Furthermore 2 respondents consider that, if suppliers
have their strong bond with companies and provide high quality of services then there wil be no
impact of BREXIT.
Theme 7: Effect in distribution cost
Does BREXIT will bring increase in cost of distribution of product? Evaluation
 Yes 23
 No 7
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Interpretation: From above graph it can be interpreted that, 23 respondents considers that prices
for distribution of product within country will rise as country will have less options for
distribution due to which they will increase prices of services so that economy and financial
structure can be improvised. According to 7 respondents, there will be no effect on prices of
services and products.
Theme 8:
Does BREXIT affect availability of supply chain labor? Evaluation
 Yes 21
 No 9
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Interpretation: From above graph it is clear that, as per 21 respondents there will be affect on
supply chain labour as countries will not opt to hire employees from UK and same goes with
them. This will provide growth opportunities for local individuals. 9 respondents thinks that if
individual possess capabilities then they can get wide options for career growth.
CONCLUSION
This specified Literature review shows the manner in which BREXIT have impacted a lot on
real estate market in United Kingdom. It has been evaluated that fluctuations in currency level of
pounds affect a lot on real estate market that adversely affect their growth. European Union is a
single market in which 28 member countries perform trade practices. As there are five member
states that actually determines economic prosperity that will effectively lead towards strengthen
of business activity and financial sustainability. There are different types of links available that
will effectively capitalize the issue that have raised form outcome of vote that links include,
offering best price to purchase and sell of real estate properties and effectively focusing on time
frame in relation to value of currency on daily, weekly and monthly basis. BREXIT will
somehow result towards financial violation of British Pounds that affect market of real estate by
bringing the decrease in value of property and decrease in overall value of house. For this it is
required to effectively maintain financial position as to become leading hub of financial strength
along gaining best place in trade position in the sector of financial serving country. In addition
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this with selling platforms such as, B2C and B2B will effectively aid real estate agencies to deal
with customers in a direct way. Along with this with the help of various technological based
platforms real estate owners can effectively satisfy their customers by eliminating cost of middle
man in relation of buying and selling of properties in United Kingdom. It is important for real
estate owners to focus on both micro and macro market in context of evaluating price of housing
property and availability of the same. Lastly, it is necessary for real estate owners to analyse
competitive strategies of their existing competitors and make difference in their offering in order
to sustain for long term.
RECOMMENDATIONS FOR POTENTIAL BUSINESS CONCEPT
As per the study, it has been seen that BREXIT will affect housing marketing cycle within
real estate industry will result in high growth in property rates (Sathyanarayana and Gargesha,
2016). It has been recommended to effectively identify potential target market in order to gain
more advancement. It is further recommended to real estate owners of UK to know their product
differentiation base and compared it to other member of European Union countries. In addition
to this, it is required for real estate owners to conduct a formative financial feasibility analysis
and measure overall currency fluctuation factor in order to frame related strategies. Real estate
owners can take advantage of various techniques and strategies to attract investors from other
countries of European Union and can leverage their buyers in order to gain maximum potential
outcome. In addition with this, it has been recommended to real estate market owners within UK
to put their more focus on building formative relationships marketing. Along with this, they can
attract numerous investors by conducting events and programmes and attending loyal networking
events on regular basis. This will benefit them to help them to team up with other experienced
listing agents and aid them to boost their market growth. As it has been certain that BREXIT will
impact on transactions of high end home and increase stamp duty charge. Real estate owners
within UK can stimulate their growth by gaining confidence of buyer as this will acts as major
factor in planning pricing strategies of house and properties. In addition to this, it has been
recommended to real estate owners that they are required to keep an eye in taxes charges rates in
both UK and European Union as to conduct their operations in international level and attract
large number of potential investors.
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RECOMENDATIONS FOR FURTHER RESEARCH
Since it is already mentioned in the limitation portion of research that time was the main
primal element that lead researcher to effectively get more authenticated outcomes. If the exact
same opportunity research will carry out in future, then it will help in producing outcomes
though effectively defining of each and every single activity. Along with this, secondary sources
acts as a more relevant method to conduct effective analysis that will directly benefits
investigator to get more specific outcomes within a particular time frame. In addition with this
primary research will effectively aid researcher to draw more significant and favourable
outcomes and it will directly benefits investigator to drag results in a more specified manner. As
research is not carried out in a proper way, further more time will be taken by researcher to
evaluate specific results if research which has not been carried out. Researcher will effectively
able to conduct deep analysis of chosen topic and i.e impact of BREXIT in real estate market
within United Kingdom by taking more time in future. In addition with this with the proper
utilization of secondary method researcher will further able to conduct research in both positive
and negative frame that will effectively aid investigator to get favourable outcomes. Along with
this, researcher by taking help of proper mix of investigating methods can effectively able to
formulate best possible outcomes and can understand complex phenomenon of BREXIT impact
on real estate industries within United Kingdom.
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REFERENCES
Books and Journals
Ramiah and et. Al., 2017. The sectoral effects of Brexit on the British economy: early evidence
from the reaction of the stock market. Applied Economics, 49(26), pp.2508-2514.
Sathyanarayana, S. and Gargesha, S., 2016. Impact of BREXIT Referendum on Indian Stock
Market. Social Sciences, 5(01), p.2016.
Gourinchas, P. O. and Hale, G., 2017. Brexit: Whither the Pound?. FRBSF Economic Letter, 11.
Hines, M. A., 2017. International real estate investment. In The Most Important Concepts in
Finance. Edward Elgar Publishing.
Cumming, D. J. and Zahra, S. A., 2016. International business and entrepreneurship implications
of Brexit. British Journal of Management, 27(4), pp.687-692.
Johnson, P. and Mitchell, I., 2017. The Brexit vote, economics, and economic policy. Oxford
review of economic policy, 33(suppl_1), pp.S12-S21.
Mayhew, K., 2017. UK higher education and Brexit. Oxford Review of Economic
Policy, 33(suppl_1), pp.S155-S161.
Crafts, N., 2017. Brexit and state aid. Oxford Review of Economic Policy, 33(suppl_1), pp.S105-
S112.
Monfared, S. and Pavlov, A., 2017. Political Risk Affects Real Estate Markets. The Journal of
Real Estate Finance and Economics, pp.1-20.
Wijburg, G. and Aalbers, M.B., 2017. The internationalization of commercial real estate markets
in France and Germany. Competition & Change, 21(4), pp.301-320.
Dhingra, S., Ottaviano, G., Rappoport, V., Sampson, T. and Thomas, C., 2018. UK trade and
FDI: A post‐Brexit perspective. Papers in Regional Science, 97(1), pp.9-24.
Armour, J., 2017. Brexit and financial services. Oxford Review of Economic Policy, 33(suppl_1),
pp.S54-S69.
MacDonald, S., 2016. The impact of Brexit on the UK’s reputation, influence and soft
power. Cultural Trends. 25(4). pp.280-286.
Barnard, C., 2017. Law and Brexit. Oxford Review of Economic Policy, 33(suppl_1), pp.S4-S11.
Sumption, M., 2017. Labour immigration after Brexit: questions and trade-offs in designing a
work permit system for EU citizens. Oxford Review of Economic Policy, 33(suppl_1), pp.S45-
S53.
Schillig, M., 2016. Corporate Law after Brexit. King's Law Journal. 27(3), pp.431-441.
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