Data Analysis and Interpretation - Doc
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Added on 2021-01-02
Data Analysis and Interpretation - Doc
Added on 2021-01-02
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Research Project
Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................11.1 Overview of Research...........................................................................................................11.2 Background of Research.......................................................................................................11.3 Rationale of Research...........................................................................................................21.4 Research Aim........................................................................................................................21.5 Research Objectives..............................................................................................................21.6 Research Questions...............................................................................................................2CHAPTER 2: LITERATURE REVIEW.........................................................................................32.1 Concept of globalisation and its benefits on Marks & Spencer............................................32.2 Current global requirement for Marks & Spencer................................................................42.3 Impact of globalisation in success of Marks & Spencer......................................................42.4 Complexities which Marks & Spencer face at the time of globalising its business.............5CHAPTER 3: RESEARCH METHODOLOGY ............................................................................63.1 Type of Investigation............................................................................................................63.2 Research Philosophy.............................................................................................................63.3 Research Approach...............................................................................................................7CHAPTER 4: DATA ANALYSIS AND INTERPRETATIONS................................................10CHAPTER 5: RESERACH OUTCOMES....................................................................................175.1 Conclusion...........................................................................................................................175.2 Recommendation.................................................................................................................17CHAPTER 6: REFLECTION & ALTERNATIVE RESEARCH METHODOLOGY.................186.1 Reflection............................................................................................................................186.2 Alternative research methodology......................................................................................18CONCLUSION .............................................................................................................................18REFERENCES..............................................................................................................................19
APPENDIX ...................................................................................................................................21.......................................................................................................................................................30
TOPIC: GLOBALISATION CAN DRIVE BUSINESS SUCCESSCHAPTER 1: INTRODUCTION1.1 Research OverviewGlobalisation is process through which business and some other firms develop theirinternational influence at global level. It is a term that is used to explain social, economic andpolitical interaction across the cultural as well as political boundaries. It is considered throughsome as form of expansion of capitalist that entails integration of the national and localeconomies in to unregulated and global economy. Generally, it is an economic integration andinteraction process that is related with the cultural and social aspects (Beuving, 2013). Underthis, globalisation implies opening of nationalistic as well as local perspectives to the wideroutlook of interconnected and independent world with the free transfer of products, services andcapital. The aim of globalisation is to make secure the social- economic development as well asintegration of people in world by flow of knowledge, services etc. outside the boundaries. 1.2 Background of ResearchGlobalisation is an important concept that has became main aspect in the business fromlast few decades. It impacts on organisational life, environment, economy and social group in aneffective manner. In this, globalisation is seen as active and conscious procedure of expand thebusiness across borders of states. Globalisation seeks to transform the existing internationaleconomic system in order to unified global economies system (Cooke, 2012). The globalisationis aimed at securing advantages of tree- trade, equal participation in securing the sustainabledevelopment and open access to markets for all people. It is helpful for large as well as smallbusiness firms to enhancing business operations, reach at global market and attain thecompetitive benefits in an effective manner. Marks & Spencer is British Multinational retailer and its headquarter is in Westminster,London. This company is specialised in selling the clothing, luxury food items and homeproducts. The main aim of this company for making business globalise is to gain high revenueand attaining the competitive advantage at international level (Cohen, 2018). Marks & Spencercompany considered its customers as primary concern and its main focus on attracting morepeople through providing goods and services on the basis of their demands at wider scale. On theother1
hand, motive of this company is to develop awareness about its offerings at international level inorder to maintain the better brand image at international and domestic market. 1.3 Rationale of ResearchThis research taken in to consideration on “Globalisation can drive business success.”Under this, globalisation is wider area that performs better role in developing business functionsand operations in significant way. Main reason behind selecting mention research topic is todeveloping a better knowledge base of a person in domain of importance of globalisation andalso its impact on success of business. This present research assess in give relevant or accuratedetails in context to necessary components of globalisation within business operations. It ishelpful in enhancing knowledge base, skills of an individual regarding conducting aninvestigation (Corstjens and Lal, 2012). On the other hand, another reason of conduct thisinvestigation is to develop proper theoretical framework that assess in analysing globalisationconsequences and its impact on making the business successful at international level. 1.4 Research AimAim of this research is “To identify importance of globalisation and its impact on makingbusiness successful.” A study on Marks & Spencer.1.5 Research ObjectivesTo understand the concept of globalisation and its benefits on Marks & Spencer.To assess the current global requirement for Marks & Spencer.To evaluate the impact of globalisation in success of Marks & Spencer.To determine complexities which Marks & Spencer face at the time of globalising itsbusiness.1.6 Research QuestionsWhat is globalisation concept and also its advantages to Marks & Spencer?What is current global requirement for Marks & Spencer?What is impact of globalisation in success of Marks & Spencer?What are complexities which Marks & Spencer face at the time of globalising itsbusiness.2
CHAPTER 2: LITERATURE REVIEWIt is an important part of research and considered as critical analysis of published sourceson specific area. It refers to scholarly paper that includes the current knowledge by consisting therelevant findings and provide the theoretical contribution to the particular subject area.In thispart of research, secondary data is used and collected from different sources like books, journals,articles etc. These all sources will help in gather relevant information and provide positiveoutcomes. 2.1 Concept of globalisation and its benefits on Marks & SpencerAccording to opinion of Pettinger (2017) it has been concluded that Globalisation is aprocess of developing, expanding and also growing business, technologies and services in allover the world. It is related with expansion of the different businesses to global markets. Theglobalisation is helpful for business to enhance connectivity as well as interdependence ofbusiness in worldwide markets. Marks & Spencer is a biggest retailer in world and it has almost150 stores in around 30 countries consisting 130 franchises which operating across globe. Thecore objective of this company in making business globalise is to meet with expectation ofconsumers and provide the better access to wider list of the products. There are some benefits ofGlobalisation mention below related to business of Marks & Spencer:Economies of scale- Under this, domestic monopolies will face the internationalcompetition. It leads to more reduction in cost of customers. In context to economies of scale,globalisation enable Marks & Spencer to realise that it can minimize costs that help in supportthe economic development of country.Lower costs- In this, globalisation makes easier for firm to outsource part of productionprocess to other countries with the reduced labour costs. In addition to this, Marks & Spencer canuse of latest technology in order to communicate with people in all; around the world and awarethem about the available or and innovate products.Greater Competition- More profitability can gain through Marks & Spencer firm withthe help of enhancing skills, sharing information, ideas and using advanced technology acrossglobe. Through this, Marks & Spencer can gain the competitive benefits and also cam facechallenges to increase its market share. 3
2.2 Current global requirement for Marks & SpencerIn this present time period, globalisation is most necessary term and plays a necessaryrole in development of large and small size organisation. Marks & Spencer is largest Britishmultinational retailer of United Kingdom and its aim is to enhance the profit level of business.As per opinion of KUEPPER, (2018) it has been stated that core objective of this firm is tomeeting expectations of consumers and also providing them high quality of goods so that theycan be attracted. It has wide range of the return on food items and also earn trust of consumers.In addition to this, there is more impact of globalisation in formulation of the internationalizationstrategies. The customers from different countries are various because of varying culture, incomelevel, economic development etc. In this case, Marks & Spencer does not use centralisedoperating strategies instead of combine with other firms by mergers. This firm is operating itsbusiness at global level and in order to maintaining its hatband image and position, variousglobal requirements are mention below:Advance technology- It is an important aspect that is necessary to considered throughcompanies in order to maintain trading options of company in an effective manner. In modernera, technology has wider impact on trading functions as well as operations of company insignificant manner. In addition to this, Marks & Spencer execute the high technology and toolsfor maintaining production function of company. This firm uses the retail technology that permitretailers for examine sales trends and also match them with needs of consumers. Skilled workforce- Under this, it is necessary for company to maintain its workforce incontext to operate functions of business at global level. The Marks & Spencer is large size firmand it operate its business at international level so it manage its workforce effectively and hirethe skilled and well qualified staff members. 2.3 Impact of globalisation in success of Marks & SpencerOn the basis of opinion of Bhasin (2019), globalisation is process by which interactionand integration of countries, people and companies across globe. The impact of globalisation inmaking business successful of Marks & Spencer mention below:Gives Access to a Larger Market- With the help of globalisation, Marks & Spencer canenhance its customer base and target new market place in other countries. It will help in enhancesales as well as earn more profit. 4
Provides Cheaper Goods for Consumers- Due to globalisation, many of businessorganisations are moving to those areas when the production cost is low. Through this, firm isable to provide its goods to consumers on minimum cost. From this they can be retain at marketplace and enhance profitability. Technology- It is based on availability of resources through Marks & Spencer with anability of attain development in technology for make competitive in the global market. With thehelp of using technology, company can communicate with its consumers and target the newmarket. It will help in generate more revenue and making business successful. 2.4 Complexities which Marks & Spencer face at the time of globalising its businessAs per opinion of TVERBERG, (2013) it has been stated that Globalisation providebenefits to business in many different ways but at the time of globalise business, Marks &Spencer firm facing many different complexities. There are some complexities mention below:Unfamiliar culture- Under this, the culture of every country is differ from each other.Culture can e related with working, organisational etc. So, it develops main issue when companyis going to be globalise, so it need to aware about culture of other country, know about way inwhich people communicate with each other and many other things. Lack of Financial Control- It is also a main challenge that Marks & Spencer can face inorder to maintaining the financial control over its operations mainly when entering in emergingmarkets. Sometimes, company does not have standardized process with the check in places toassure about locations like how many of ban accounts local operation have, partner with the localsuppliers etc. Causes Fluctuation of Prices- Enhanced competition means that the businesses withbetter prices win. Because of the competition, costs is fluctuating always. For an example- UK country has to minimize its costs in order to compete with the cotsfor same goods that is coming from different country. The production costs of other country isless as compare the UK hence it can have minimum cost. From this, there will be negativeimpact developed on profit of company. 5
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