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Globalisation Assignment: Marks and Spencer

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Added on  2021-01-02

Globalisation Assignment: Marks and Spencer

   Added on 2021-01-02

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Research Project
Globalisation Assignment: Marks and Spencer_1
Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................11.1 Overview of research........................................................................................................11.2 Background of the Research.............................................................................................11.3 Rationale of the project....................................................................................................21.4 Research Aim...................................................................................................................21.5 Research Objectives.........................................................................................................21.6 Research Questions..........................................................................................................2CHAPTER 2: LITERATURE REVIEW.........................................................................................42.1 Concept of globalisation...................................................................................................42.2 Benefits of globalisation in context with Marks and Spencer.........................................42.3 Affects of globalisation on success of Marks and Spencer..............................................52.4 Challenges that can be faced by Marks and Spencer while globalising their business...6CHAPTER 3: RESEARCH METHODOLOGY ............................................................................83.1 Type of Investigation........................................................................................................83.2 Research Philosophy........................................................................................................83.3 Research Approach...........................................................................................................93.4 Data collection..................................................................................................................93.5 Sampling.........................................................................................................................103.6 Timeline..........................................................................................................................10CHAPTER 4: DATA ANALYSIS AND INTERPRETATION....................................................12CHAPTER 5: RESEARCH OUTCOMES....................................................................................255.1 Conclusion......................................................................................................................255.2 Recommendation............................................................................................................25CHAPTER 6: REFLECTION & RECOMMENDATION FOR ALTERNATIVE RESEARCHMETHODOLOGY........................................................................................................................26
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6.1 Reflection.......................................................................................................................266.2 Alternative Research Methodology................................................................................26CONCLUSION..............................................................................................................................27REFERENCES..............................................................................................................................28APPENDIX ...................................................................................................................................30Research Proposal Form.......................................................................................................30Research Ethics approval form.............................................................................................33
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Topic:How globalisation drive business towards success”CHAPTER 1: INTRODUCTIONTITLE: To determine how globalisation can drive business towards success. A Case Study onMarks and Spencer. 1.1 Overview of researchGlobalisation is not a new concept because every individual knows about how it isproviding benefits to an organisation. Globalisation has provided a platform where company cancome together and interact with each other so as to gain competitive advancement. Therefore, itcan be said that globalisation has provided numerous opportunities to firms in order to operate itsbusiness in an effective manner (Alejandra Gonzalez-Perez, 2013). It is because of globalisationthat company has increased the level of competition. Major benefits that has been gained bycompanies because of globalisation is that it has given opportunities of expanding itsgeographical dispersion because of which company has increased its customer's base.Globalisation is not confined with only economic aspects it has included other elements as wellsuch as cultural awareness, exchange of tools and technologies, etc., therefore, because of this,company can now include employees who are skilful enough in performing their activities in aneffective manner. Therefore, this report will help researcher in evaluating the how globalisationtakes business towards success. What all are the factors that must be consider by company sothat better outcomes can be gained. For this aims and objectives will be formulated on whichentire research will be based. Along with this, different methodology will be undertaken such asprimary and secondary so that research can be made effective in nature. As a result, this will aidin evaluating a valid conclusion for making research more reliable in nature (Apăvăloaie, 2014).1.2 Background of the ResearchGlobalisation is considered to be a very wide concept as it includes different kinds ofelements that can further assist company in delivering effective services and facilities. Marks andSpencer, is a multinational company that deals in the sector of retail industry that it is providingexcellent services and facilities to its customers. It is a biggest retailer and has almost 150 storesin around 30 countries consisting 130 franchise operating in all over world. The overseasbranches of this business firm are franchised locally. This research will be effective indetermining places where firm can gain maximum benefits (Appel, Franz and Hassler, 2014).1
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The main reason of Marks & Spencer behind making the business globalise is to target the newtmarket and also enhance its market share in an effective manner. In business, globalisation ischange from firm that is related with single country to one that operate its business in many othercountries in an effective manner. In addition to this, economic globalisation is global integrationof an economies by investment flows as well as trade in context to increase internationalcompetitiveness. On the other hand, globalisation had driven through financial liberalisation andtechnological change through appreciation between policy makers (Axelrod and VanDeveer,2014). 1.3 Rationale of the projectGlobalisation is a crucial component which is providing advantage to companies, it isenabling company in operating its business across international borders. Thus, this research willhelp in understanding how globalisation can help company in gaining success and competitiveadvancement. Along with this, it will aid firm in operating business properly considering thefactors that can hamper their business operations (Kasemsap, 2015). Apart from this, conductingthis research will help researcher in evaluating limitations as well. 1.4 Research AimAim of this research is to “To identify the importance of globalisation and its role oftaking business towards success. A Case Study on Marks and Spencer. 1.5 Research ObjectivesTo determine the concept of globalisation.To identify the benefits of globalisation in context with Marks and Spencer. To evaluate the affects of globalisation on success of Marks and Spencer.To identify challenges that can be faced by Marks and Spencer while globalising theirbusiness. 1.6 Research QuestionsWhat do you understand by the concept of globalisation?What kind of benefits Marks and Spencer can gain because of globalisation? How globalisation can put an affect on success of Marks and Spencer?What are the challenges that can be faced by Marks and Spencer while globalising theirbusiness?2
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CHAPTER 2: LITERATURE REVIEWLiterature review refers to review of the ongoing as well as completed investigation thathas been conducted to determine the current methodologies in an effective manner. It is mainlysummarize and determine the findings which are related with specific research area. In order tocollect the data, researcher uses the secondary sources for an instance books, journals, articlesand many others. 2.1 Concept of globalisationIn the present world of economy which we think it totally based on globalization. Today'sworld growing rapidly therefore, globalization is also a part of market with independent thingssuch as consuming similar goods, and responds to the same as other market. It is growth rate ofworld as a proportion output. This concept focuses on their foreign direct investment (FDI) indeveloping countries, and it resulted become so high which crosses the foreign exchange marketof world. According to Williamson (2019), Globalization is the process of interaction amongpeople, companies & government worldwide. It considered by form of capitalist expansionwhich is the integration of local and national economies in a global time. This concept increasedinteraction for the future growth of International Trade, ideas, and culture, also focusing onsocial and culture aspects. Therefore, their conflicts are also large part of the globalization &modern globalization. Another aspect that globalization had been used in its economic sense atleast as early as 1981, this concept has inspired by some definitions and interpretations. Now ithas become more useful usage through social and economies from cross country flow ofinformation, technologies, ideas, capital, finance and people. Globalization also determined threechannels that is Trade in goods and services, Movement of capital and flow of finance.2.2 Benefits of globalisation in context with Marks and SpencerMarks and Spencer is a well established organisation of UK which deals with theexporting of products like food, clothes, household accessories. On the basis of opinion ofRossum (2017), it has been stated that Globalisation is exporting and importing of productsbetween different countries. M&S is a retail company that is into exporting of its products toother countries. M&S has experienced profits in expanding their business in foreign countries. Itis an example for other companies. The performance of M&S shows that trading globally is risky4
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but if company handles difficulties it will succeed. There are some benefits of globalisation tobusiness of Marks and Spencer mention below:Trading globally helps the company to contribute in country's economy by increasing theprofit in foreign businesses. Globalisation helps the company to expand its market andsell products to new customers. While exporting products to foreign people company getsto learn about the customer requirements of that area and how to deal with problems offoreign customers. It helps to know trends and traits of other countries. Financial growth is most importantbenefit of trading globally. M&S is retail organisation that supplies food items, clothesand luxury accessories to other countries it help to build reputation of brand in front ofpeople of other countries. With the help of globalisation, company can target new market and also can enhance itsmarket share in a better manner.2.3 Affects of globalisation on success of Marks and SpencerOn the basis of opinion of Elkins (2018)it has been stated that Globalisation is force thatshape contemporary world, affecting the business, society and environment. It is an ongoingprocedure that is connecting people, regions, countries closely together. In addition to this,globalisation has a trends towards enhancing global economic integration and it is one of largestforce that impacting economies of world. The impact of globalisation on success of Marks andSpencer can be positive and negative. Positive impact of globalisation on Marks and SpencerCompetition-Under this, globalisation leads to enhanced competition in business. It canbe concerned to cost of services or product, technological adaption, target market etc. Whencompany produces products at minimum cost then it can enhance its market share.Rise in technology- In this present time period, globalisation has allowed significant risein technology. The Marks and Spencer adopts and uses new technology in order to gain newbusiness opportunities. In addition to this, technology is main competition tool and quality ofservices. Under this, globalisation has maximise technological transfer speed along with makeimprovement in technological quality. 5
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