Role of Globalization in Boots Ltd's Business Success

This research project focuses on the role of globalization in driving the business success of Boots Ltd, a British health and beauty retailer. It examines the benefits and challenges of globalization for the company and aims to develop a basic understanding of the concept. The research will use a qualitative research strategy and primary data collection methods.

Research Project

Title/Topic:
“To investigate the role of globalisation in driving business success of an
organisation”. A study on Boots Ltd
Rationale/
Background
:
The current project is based on the role of globalization in running and
driving business success of an establishment “Boots Ltd”. Globalization plays
an effective role in running and operating the business in wide areas as well
as make contribution in the development of enterprise. Basically,
globalization signifies as the speed up movements and exchanges all over the
planet (Crane and et. al., 2019). One of the effects of globalization is that it
promotes and maximizes interactions among different regions and
populations around the world. In current business world, organizations
consider globalization in order to expand and explore their business activities
and operations with the aim of success and development. Also, in order to
make development and progress in business, internationalization play an
effective function in by offering different marketing tools and ways so that
companies can make easy entry in the new market place as well as make
development in their business. The key purpose of selecting this research area
is to obtain knowledge about the globalization and how it support a business
in making development as well as provide growth opportunities.
This study is perform regarding Boots Ltd which is trading as Boots and it is a
British health and beauty retailer and pharmacy chain in the UK and other
nations and territories considering Ireland, Italy, Norway, Netherlands and
Thailand. This venture was incorporate in 1849 and is headquartered in
Beeston, Nottinghamshire, England, UK. So regarding this research, in order
to select this firm the reason to get brief information about the health and
beauty products as well as the firm which want to make expansion in the
business with the support of globalizations (Amankwah-Amoah, Osabutey
and Egbetokun, 2018). Along with this, this research study is beneficial to the
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researcher to make development in the skills, knowledge and abilities. So that
when the individual will perform or work regarding related kind of research
then the person can do well due to having appropriate knowledge.
Introduction
This current research project is based on the support and function of
globalization in context of success and progress of company. Basically
globalization denotes to the developing interdependence of the world’s
economies, cultures, and populations, brought about by cross border trade in
products and services, technology and flows of investment, individual and
information. Mostly, organizations consider this term with the aim of making
development in their business It is the spread of goods, technology,
information and jobs across national borders and cultures. In economic terms,
it defines and interdependence of countries around the globe fostered by free
trade (Verbeke, Coeurderoy and Matt, 2018). There number of ways and
forms of internationalization which are considered by the business enterprises
in order to operate their business at global scale. It significant for company as
well as nation because outsourcing by establishments brings jobs and
technology to developing nations that support them to develop their
economies. Trade initiatives maximize cross boarder trading by removing
supply side and trade associated constraints.
In order to complete and perform this research in effective manner, the
investigator considers Boots Ltd company operates its business in
pharmaceuticals, healthcare, beauty and photography. It sells many health and
beauty products and also offers optician and hearing care services within
shops and as standalone practices. The researcher will perform and conduct
this research in systematic manner (Spicer, 2018). Moreover, the investigation
project will consider information about research aim, objectives and questions
based in the research title. Moreover, it will consider information about
research methods, primary and secondary research and source of data.
Furthermore, it will define about the sampling, data collection methods and
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time frame in order to complete the research in more developed manner. The
consideration of all these research methods and tools will play an effective
role in the completion of the research in more developed and systematic way.
Aim of
the
research
“To identify the major roles plays by globalization with purpose of driving
business success of an organization. A study on Boots Ltd.”
Objectives of
the research
 To develop basic understanding regarding the concept of
globalization.
 To investigate the benefits of globalization in driving of business
success of Boots Ld.
 To determine the challenges of globalization that would be faced by
boots Ltd.
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Research
questions
Or
Hypothesise
 What is the concept of globalization?
 What are the benefits of globalization in driving of business success of
Boots Ltd?
 What are the challenges of globalization that would be faced by Boots
Ltd?
Literature
Review
The concept of globalization
As per the view of Fernando J. (2020), globalisation is the spread of goods,
technology, information and jobs crosswise national boarders and cultures. In
economic terms, it can be explained as an interdependence of nations around
the globe fostered by free trade. Globalisation is basically an activity or
process of trading business in different nations as well as creating competition
for other and earning profits, Corporations gain a rivalry benefit on multiple
fronts by globalisation. They can reduce operating costs by production
abroad, buy raw material more cheaply as of the reduction or removal of
tariffs, and most of all, they gain access to millions of new target audiences.
Along with this, globalisation has created new jobs and financial development
by the cross boarder flow of commodities, capital and labour. Also, this
progress and job creation is not allocated evenly across industries or courtiers.
The benefits of globalization in driving of business success of Boots Ltd
Accordant to Velocityglobal, (2020), there are different advantages of
globalisation which support in success of the company.
The spread of technology and innovation- Many nations around the world
remain continually related, so knowledge also transfers so fast, this states that
scientific advances made in Asia can be at work in US in a matter of days.
Lower costs for products- Globalisation allow organisations to find lower
cost ways to manufacture their goods. It also maximises global competition,
which drives prices down and makes a larger ranges of choices for customers.
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Lowered costs enable individual in both developing and already developed
nations live better on les money.
Access to new markets- Business gain a great deal for globalisation,
considering new consumers and different revenue streams. Organisations
interested in these advantages look for flexible and innovation ways to
develop their business overseas. International Professional Employer
Organisations make it easier than ever to employ workers in other nations
rapidly and compliantly. This states that for many organisations, there is no
longer the demand to set up a foreign entity to expand overseas.
The challenges of globalization that would be faced by Boots Ltd
According to Velocityglobal, (2020), There are different challenges which can
be faced by an organisation due to globalisation. Some of them are as:
Incurring Tariffs and Export Fees- It is a great challenge which can be faced
by organisation in term of incurring tariffs and export charges. During the
time of selling commodities abroad, getting those items overseas can be
expensive, depending on the market are some issues which faced by ventures
due to globalisation.
Payroll and compliance challenges- It is another common global expansion
issues is managing overseas payroll and managing compliance with changing
employment and tax laws. This management task gets even harder if they are
trying to administrate operations in several markets.
Loss of cultural identity- While globalisation has made foreign nations easier
to access, it has also started to meld unique societies together. The growth of
certain cultures throughout the world cause other nations to emulate them.
But when cultures begin to lose their distinctive features, the firm lose their
global diversity.
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Qualitative
Research strategy refers to the approaches and methods which are considered
by the research in order to collect and assemble information with the aim of
accomplishment of research objectives. There are two main research
methodologies such as quantitative and qualitative. These tools are used by
investigator in order to assemble appropriate and reliable information with the
purpose of meeting research aim (Martínez-Martínez and et. al., 2019).
Choice of methodology is heavily impacted by the research question. The
research question is a superimposing question that moves the investigator
from a dilemma observation to exploratory examination. The research
strategies make an effective contribution in the completion of research
project.
Qualitative research- It is primarily exploratory research, It is basically
utilised to gain an understanding of underlying reasons, opinions and
motivations, It offers insights in to the problem or supports to develop ideas
or hypothesis for potential quantitative research. Qualitative research is also
utilised to uncover trends in ideas and views as well as dive deeper in to the
problem. Qualitative information collections methods vary using unstructured
or semi-structured tools. Some common methods consists focus group,
individual interviews and observations. The sample size is basically small and
responders are chosen to meet a given part. Generally, qualitative
methodologies are utilised to determine and assess non-numerical
information. These methods are applicable to studies that consider
relationships among people, individuals and their atmospheres as well as
motives that drive individual behaviour and action. This strategy do not inflict
rigid rules and process similar to quantitative methods (Radović-Marković,
Brnjas and Simović, 2019). Also, they derive the research process form the
data itself.
Quantitative research- it is utilised to quantify the problem by way of
generating numerical and statistical information or data which can be
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transformed into useable statistics. It is utilised to quantify attitudes, opinions,
behaviours and other defined variables and generalise outcomes form a larger
sample population. This research tool basically utilises measurable
information to frame facts and uncover patterns in research (Singh and
Kumar, 2020). Quantitative research are much structured than qualitative data
collection tools, This strategy considers different forms of surveys such as
online survey, paper survey, mobile survey and kiosk surveys, face to face
interviews, telephone interviews, longitudinal studies, websites interceptors,
online poll and systematic observations.
In this current research project, the surveyor will consider quantitative
research strategy because there are a wide range of statistical techniques
accessible to determine quantitative information. The information which is
used by quantitative method is from simple graphs to show the data through
tests of correlations among two or more items, to statistical importance. Other
tools consist cluster analysis which is beneficial for finding out relationships
among teams of subjects where there is no obvious hypothesis and hypothesis
testing to find out whether there are genuine differences among teams.
approach
vs
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Quantitative
Approach
Primary/
Secondar
y
Research
There are two main kind of research which is considered by research during
the time of conduct investigation regarding a particular research. The
discerning factor among primary research and secondary research is the
degree of engagement o the research with data collecting procedure.
Primary research- It refers to the research which has considered the
collection of original data specific regarding particular research project.
During the time of conducting research, the investigator collects data first
hand rather than relying on accessible data in databases and other publications
(Crane and et. al., 2019). This sort of research is often carried out with the
goal of producing new knowledge cause of which primary research is also
referred to as original research. By doing primary research, investigators aim
to answer questions that have not been answered or even asked before This
level of originality established primary research apart from secondary
research. In order to collect information with the support of primary research,
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the investigator can consider surveys, interviews, observation, data analysis,
focus groups and etc.
Secondary research- While primary research considers active participation
from the surveyor themselves, secondary research considers the summary or
synthesis of data and literature that has been conducted and published by
others (Amankwah-Amoah, Osabutey and Egbetokun, 2018). When doing
secondary research, investigators make utilisation and determine information
from primary research sources. Secondary research is widely utilised in many
areas of study and sectors such as legal and market research. The volume of
information accessible on a specific topic may be overwhelming at the
starting of the secondary research process. Research questions should be
utilised to lead the researcher as they focus on finding project specific data.
The best source to answer a specific research question may vary largely and a
single project will likely need more than one source. Within this tool, the data
is collected by different sources like academic peer, journal, articles, books,
magazines, government agencies, educational institutes and commercial
information sources etc.
Within this current research project, the researcher will make use of primary
research because it provides the researcher 100% ownership of the
investigated data that is extremely beneficial for companies in highly
competitive markets (Verbeke, Coeurderoy and Matt, 2018). Along with this,
with the use of primary data, the research can collect pure, fresh and first
hand information regarding the research area and topic.
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Sources of
Data
In a time when information is becoming easy to available to investigators
across the globe, the practicality of using secondary data for research for
research is becoming more established, same as its questionable authenticity
when make comparison with primary data (Spicer, 2018). In order to
completion of the research, gathering of the information plays an important
part. The source of gathering data is segmented into two different sections,
namely, primary data and secondary data.
Primary source- It offer raw information and first hand evidence. In order to
collect the information with the use of this source, the research can consider
interview transcripts, statistical data, and works of art. A primary source is
beneficial because it gives direct access to the subject of the research. A
primary source is anything that provides the researcher direct information
about the individual, events ad phenomenon that the individual researching.
Primary sources will basically be the key objects of the analysis. The
information which is collected from this source is original as these are
gathered by the surveyor very first time. This information is more reliable and
suitable for the enquiry as it is gathered for a specific purpose.
Secondary source- This offer second hand data and commentary from other
researchers. In order to collect information with the use of this source, the
investigator can make use of different tools of secondary data like journals,
articles, reviews and academic books etc. A secondary source defined,
interprets and synthesizes primary sources. A secondary source is anything
that defines, interprets, assesses or determines data from primary sources. The
information which is collected by suing secondary source is not original as it
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is already available in the market and used by other for their own purposes.
In this current research project, the investigator will consider primary source
to complete the research requirement and objectives (Martínez-Martínez and
et. al., 2019). The research will consider survey as primary source of data
collection because it support in providing pure and fresh information to meet
research purposes.
Populatio
n and
Sampling
It is a process which is utilized in statistical analysis within a predetermined
number of observations is taken from a wide population. The methodology
utilised to sample from a large population that based on the type of analysis
being conducted and performed, but it may consider simple random sampling
and systematic sampling. In simple random sampling, every item within a
population has an equal probability of being selected. It is the furthest
removed from any potential bias as there is no human judgement engaged in
selecting the sample (Radović-Marković, Brnjas and Simović, 2019).
Systematic sampling starts at a random beginning point within the population
and uses a fixed, periodic interval to choose items for a sample. The sampling
interval is calculated as the population size segmented by the sample size. In
this current research, the researcher will use simple random sampling tool as
it support in saving time and resource. It also a reliable method of acquiring
information where every single individual of a population is selected
randomly. There are 30 people are selected by the researcher in order to
gather information. These individuals will be employee
of Boots Ltd who will support the firm in order to collect information in form
of sample size and population.
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Data
collectio
n
methods
Data collection is a methodical process of collecting and determining
particular data to proffer solutions to reliable questions and assess the
outcomes, It centres on identifying all there is to specific subject manner.
There are different methods and tools like interviews, questionnaire,
observation, focus group and many more which are used and considered by
the researcher in order to collect and assemble information.
Interview- Conducting interviews can assist the researcher overcome most of
the shortfalls of the previous two data collection tools that the individuals
have discussed within it by permitting the research to make a deeper
understanding of the thinking behind the responders’ responses.
Questionnaire- It is considered as standalone instruments of data collection
that will be administered to the simple subjects either by mail, phone or
online. They have long been one of the most famous data gathering tools. It is
basically a document which considers a range of questions related to research
title.
Observation- It is an effective of data collection, Making instant observations
of simplistic phenomenon can be a very fast and effective form of gathering
information with minimal intrusion (Singh and Kumar, 2020). Setting up the
right mechanism for making the observation is all the investigator need.
In this existing research, the surveyor will consider questionnaire as a data
collection method. Because it offer the surveyor an option to carefully
structure and frame the data gleaning plan with precision. Also, it will support
the researcher in collecting pure and first hand information as well as deep.
Time
plan and
resource
s
Task
Mode Task Name Duration Start Finish Predecessors
1 Selecting topic 5 days Tue 3/17/20 Mon 3/23/20
2 Developing aim and
objectives 9 days Tue 3/24/20 Fri 4/3/20 1
3 Outlining 34 days Mon 4/6/20 Thu 5/21/20 1,2
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required
4 Literature review 11 days Fri 5/22/20 Fri 6/5/20 1,3
5 Research methodology 10 days Mon 6/8/20 Fri 6/19/20 1,3,4
6 Preparing for proposal 8 days Mon 6/22/20 Wed 7/1/20 5
7 Submitting the proposal 3 days Thu 7/2/20 Mon 7/6/20 6
Task
Mode Task Name Duration Start Finish Predecessors
1 Aim and objectives 8 days Mon 9/21/20 Wed 9/30/20
2 Literature review 9 days Thu 10/1/20 Tue 10/13/20 1
3 Research methods
selection 7 days Wed 10/14/20 Thu 10/22/20 2,1
4 Review of collected
sources 9 days Fri 10/23/20 Wed 11/4/20 2,3
5 Formulation of
questionnaire 7 days Thu 11/5/20 Fri 11/13/20 4
6 Sending questionnaire for
data collection 8 days Mon 11/16/20 Wed 11/25/20 5
7 Data interpretation 15 days Thu 11/26/20 Wed 12/16/20 6
8 Conclusion and
Recommendation 7 days Thu 12/17/20 Fri 12/25/20 7
9 Formatting 8 days Thu 12/17/20 Mon 12/28/20 7
10 Taking feedback 5 days Mon 12/28/20 Fri 1/1/21 8
11 Doing changes as per the
feedback provided 10 days Tue 12/29/20 Mon 1/11/21 9
12 Final submission 3 days Mon 1/4/21 Wed 1/6/21 10
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References
What’s the difference between qualitative and quantitative research?. 2020.
[Online]. Available Through: <
https://www.snapsurveys.com/blog/qualitative-vs-quantitative-research/>.
Primary Research vs Secondary Research. 2021. [Online]. Available
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secondary-research#:~:text=While%20primary%20research%20involves
%20active,data%20from%20primary%20research%20sources.>.
Primary and secondary sources. 2020. [Online]. Available Through: <
https://www.scribbr.com/citing-sources/primary-and-secondary-sources/>.
Crane, A. and et. al., 2019. Business ethics: Managing corporate citizenship
and sustainability in the age of globalization. Oxford University Press, USA.
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Amankwah-Amoah, J., Osabutey, E.L. and Egbetokun, A., 2018.
Contemporary challenges and opportunities of doing business in Africa: The
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Social Change, 131, pp.171-174.
Verbeke, A., Coeurderoy, R. and Matt, T., 2018. The future of international
business research on corporate globalization that never was….
Spicer, J.S., 2018. Electoral systems, regional resentment and the surprising
success of Anglo-American populism. Cambridge Journal of Regions,
Economy and Society, 11(1), pp.115-141.
Martínez-Martínez, A. and et. al., 2019. Knowledge agents as drivers of
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Radović-Marković, M., Brnjas, Z. and Simović, V., 2019. The impact of
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Singh, R.K. and Kumar, R., 2020. Strategic issues in supply chain
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Fernando J. 2020. Globalization. [Online]. Available Through: <
https://www.investopedia.com/terms/g/globalization.asp>.
Velocityglobal, 2020. Globalization Benefits and Challenges. [Online].
Available Through: https://velocityglobal.com/blog/globalization-benefits-and-
challenges/.
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