Globalisation : Benefits and Drawbacks
Added on 2020-12-18
33 Pages8262 Words311 Views
RESEARCHPROJECT
Table of ContentsTITLE: ............................................................................................................................................3PART 1: RESEARCH PROPOSAL ...............................................................................................3Introduction............................................................................................................................3Background.............................................................................................................................3Research Aims And Objectives .............................................................................................3Rational For Choosing The Research Topic .........................................................................4Literature Review...................................................................................................................4Methodology: ........................................................................................................................7Timeline of Research Activities ............................................................................................8REFERENCES..............................................................................................................................11PART 2: RESEARCH PROJECT ................................................................................................12EXECUTIVE SUMMARY .................................................................................................12Methodology.........................................................................................................................12Results/Findings ..................................................................................................................15Discussion.............................................................................................................................24Conclusion ...........................................................................................................................26Recommendation..................................................................................................................27Reflection ............................................................................................................................27REFERENCES..............................................................................................................................29Appendix .............................................................................................................................31
TITLE: To investigate the benefits and drawbacks of a global business environment on operationsand functions of company. A case study on Aviva plc. PART 1: RESEARCH PROPOSAL IntroductionGlobal business environment can be defined as the task and societal environment of anenterprise, which is impacted by the international forces (Adams, 2015). These force includeinternational global labour market, technological, economic, political and legal force, and globalcompetition. For this research project, chosen company is “Aviva plc” which is a Britishmultinational insurance organisation. It was founded by Sir Adrian Montague in 2000 andheadquartered in London, UK. BackgroundGlobalisation has led to maximising competitions and a financial and economic shiftdeveloping to emerging economics. It encourages a sense of cultural awareness, global economicinter-dependency and international co-operations. For this, Aviva plc decide to expand businessfunctions in emerging country which will help them to gain competitive advantages and achievebetter outcomes for their global business. Global business environment provide different benefitsand drawbacks to the company. Along with this, in order to globalise business function atdifferent nations, there are different options such as Joint venture, Franchising, Strategic alliance,Acquisitions and many other. All this are essential and important ways but Aviva plc only usejoint venture (Andriof and et. al., 2017). Main reason behind selecting this mode is that it cansupport an organisation to increase productivity and grow business faster. Research Aims And Objectives Research Aim: "An investigation to the benefits and drawbacks of a global business environment onfunctions of an organisation". A case study on Aviva plc.Research Objectives: To analysis the basic concept of global business environment.
To investigate the benefits and drawbacks of global business environment on functions ofAviva plc.To identify the impact of global business environment on functions of an organisation. Recommend different ways through which company can easily globalise their businessfunction. Research Questions What is the basic concept of global business environment? What are the benefits and drawbacks of global business environment on functions ofAviva plc? What is the impact of global business environment on functions of an organisation?Recommend different ways through which company can easily globalise their businessfunctionsRational For Choosing The Research Topic Main reason behind choosing this research topic is to analysis the importance of globalbusiness environment for an organisation. This is one of the best concepts for the company toexpand their business functions and accomplish better outcomes (Awa, Ojiabo and Emecheta,2015). This helps an enterprise DejaVu Sans Mono;MS Minchoto retain strong relation withinternational clients and increase their sales and revenues. Therefore, the major reason forconducting the investigation is to exploring the knowledge and skill of a learner in the particulararea of research. Literature ReviewIt is defined as the search and evaluation of the available literature so as to find the issuerelated to a particular topic or area. It defines the detailed view of the perception of researcher. Itis used to address the objectives and aim of the research. To analyse the basic concept of global business environmentAccording to Tanner, (2018), global business environment is the environment in which abusiness is going to operate with different conditions which sometimes favours and sometimesnot. This environment could be a neighbouring country or the country in other continent. If acompany is processing its business in global market than the effect of global market will be onthe company. This is the change for which every company which is going to invest globallyshould be prepared. Since Aviva plc is also operating globally, therefore the impact of global
market also affects its functions. Basically there are four components which can affect thebusiness of Aviva plc. Such as competitors, suppliers, distributor, customers. In global businessenvironment, companies which are selling the same products or services with Aviva plc areknown as the competitors. The suppliers are those who provide raw material of services to Avivaplc. The distributors are responsible to distribute the services of Aviva plc to its customer.Customers are the end user of the services provided by Aviva plc. All of the above componentsof Aviva plc affects the working or functionality of company into global business environment.Benefits and drawbacks of global business environment on functions of Aviva plc.According to Anderson, (2017), the main advantages and disadvantages of globalbusiness environment on the functions of Aviva plc are as follows:AdvantagesThe main advantages of Aviva plc to be globalized is that it does not depend on its localeconomy and can continuously invest in the global market. Every company has the target ofincrease in sales and service. If a company is providing its services in a specific country than itwould not have the chances to expand its business globally. Entering into the global businessenvironment provides an opportunity for Aviva plc to expand its business across the globe andthus can increase its sales and services.DisadvantageThe disadvantage of entering into the global market to any company is that the result toentering into global market will not come in quick time, it can take a number of years to showthe result. Another effect is that, the company requires additional workforce or resources to comeand serve for them. The factors of affecting the business will also increase when entering into theglobal market. Companies like Aviva plc have to modify the changes according to therequirement of the local customers in which market is exploring.Impact of global business environment on functions of an organisationAccording to Leigh-Hunt, (2016), following are the impact of global businessenvironment on Aviva Plc.Political:When Aviva plc is going to invest its business in global market than it has the biggestinfluence of political stability of that country in which it is going to invest. If the policies ofAviva and that country does not match than it will be harder for the company to survive because
policies will impact its business functionality. Change in the policies of Aviva is necessary forthe company to survive in other country.Economical:If Aviva is going to invest in other country than the economical factor of that country alsoaffects its working. If the economic condition of country is not good i.e. the purchasing power ofcustomers is not good than the business of Aviva will surely affected. Thus it should invest inthat country where the economy will be strong enough to built a new market.Social:The social factors include the personal aspects of customer such as nature, knowledge ofproduct or services, reliability etc. Aviva group should compare the social and self factors so thatits product will be able to purchased by the customer of country where it is investing.Different ways through which company can easily globalise their business function.According to Miley, (2018), the ways through which a business a globalise itself arestated as follows:Joint Venture:If a company does not mind to share their business than joint venture is good option for acompany which is going to start its business on a new soil. Aviva plc can start its business with acompany which is already operating in that country. This will surely reduce the cost of bothcompanies and the profit and loss will be divided accordingly. Acquisition:If Aviva plc have sufficient funds than it can acquire a company which is alreadyoperating its business in that country. Acquisition suggests that the company will be truly ownedby Aviva and thus they can easily enters into the foreign market. The policies and laws can beused by Aviva because the acquired company is well known with.Franchising and Licensing:If Aviva wants to establish its business on foreign soil with its name than franchising andlicensing is the better option for them to start globally. A person or company will use the nameof Aviva to start its business, the resources and mechanism will be offered by Aviva and it willget every year fee of using its name by others.Methodology: Research Approaches
Research Approaches are the plans and the procedures which consist of steps to performa particular task. There are two types of Research Approaches. These are: 1.Qualitative Research Approach: This approach provides the knowledge about theopinions, thoughts regarding the project at a broad level. It is used to understand thereasons and for the in-depth research of the task (Buckley and Ghauri, 2015).2.Quantitative Research Approach: This approach uses the numerical symbols andnumbers. This approach is mainly used for the surveys and statistical data collection.In these Approaches, Qualitative Approach is preferred as it provides an in-depth and detaileddescription about the research done. Main Research TechniquesFor developing and getting more knowledge about the topic, research techniques areused. Some of them are:1.Interviews: An interview is a conversation in which face-to-face questions are asked bythe interviewer and answers are given by the interviewee (Cavusgil and Knight, 2015).2.Questionnaire: A questionnaire is a set of written questions and answers made for thepurpose of surveys and research.3.Case Study: Case Study refers to the detailed examination and study of a subject with itsreal life context and explaining in the form of a formal research.4.Modelling: Modelling refers to the analysing and collection of those data which supportsin the specific study of the topic.In these Research Techniques, Questionnaire is preferred to be used because the data collectionis not on a broad base. Data is collected which relates to the questions directly.Data Collection ProceduresData Collection Procedure is the process of collecting the quality information in order toprovide the relevant answers to questions. There are two types of Data Collection Procedures:1.Primary Data: These are fresh collected data or can be described as the first handcollection of data known as the Primary Data (Dyllick and Muff, 2016). The Difficultiesin Collecting Data from Primary Source is that it is a time consuming process and it isalso an expensive work.
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