Research Proposal Assignment Globalisation
Added on 2020-10-05
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Research Proposal
Table of ContentsTopic: How Globalisation can drive business success. ..................................................................1INTRODUCTION...........................................................................................................................1Rational of research................................................................................................................1Aims and Objective................................................................................................................1LITERATURE REVIEW................................................................................................................2RESEARCH METHODOLOGY.....................................................................................................6RESEARCH TIME PLAN............................................................................................................10DATA ANALYSIS AND INTERPRETATIONS.........................................................................12REFLECTION...............................................................................................................................17RECOMMENDATIONS...............................................................................................................17CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
Topic: How Globalisation can drive business success. INTRODUCTIONGlobalisation refers to procedure of integration in which companies, government andindividuals interacts with each other beyond national boundaries for the mutual consent ofoverall development. Concept of Globalisation has been initiated for the purpose of increasingopportunities for business organisations through which they can grow at highest level(Gabrielsson, Gabrielsson and Seppälä, 2012). This research is based on McDonald, a renowncompany belonging to Fast Food industry. The top management of this company is planning toexpand business operation of McDonald in international market, for this they have conducted anresearch in order to enhance their knowledge on globalisation and its importance in businessgrowth. In this regard, researcher have formulated aims and objective for this research in order toreach true results on the chosen research topic.Rational of research The main purpose of this research is to understand the term globalisation which can helpbusinesses that are looking forward to expand business at international level (Brewster and
Hegewisch, 2017). Researcher took this topic to improve knowledge related to current trends andways through which business expansion can be done.Aims and ObjectiveAim of the research is important as well as necessary part of entire research projectbecause it provide direction as well as process for conducting it. Moreover, aim of researchgenerally describe an issue through which an company will going to find solution of theseresearch problem. Thus, organisation can easily gain growth and profit in the competitivebusiness environment. The aim of research project is“To analyse the important strategies that can be used by anorganisation for becoming successful in global environment ” A case study of McDonald.Research Objective:Research objective is crucial part because on the basis of it pre-determined goals andobjectives can be accomplished in effective manner (Costen and Salazar, 2011). All theseobjectives are generally useful for investigator because through this they can evaluate overallresearch project in better way. Moreover, overall research objectives are interrelated with eachother or they have their strong connection which help researcher in conducting research projectin effective manner. Below mention are the research objective :- To determine concept of GlobalisationTo analyse the strategies used by an organisation in expanding business operation atinternational scaleTo evaluate main challenges of globalisation which might be faced by McDonald at thetime of expansionTo identify role of globalisation in expanding business operation of McDonald ainternational scaleTo analyse the range of strategies that can be used by McDonald the became successfulin the global environmentResearch QuestionIn respective section, research questions is designed by the research investigator andhe/she have to keep in mind all the objectives while framing it (Ford ,2014). Moreover, researchquestion are crucial part of the entire research because with the assistance of this researcher will
be able to understand as well as investigate it in actual manner. Below mention are the researchquestions prepared for this project :- What is the concept of Globalisation?What are the the strategies used by an organisation in expanding business operation atinternational scale?What will be the main challenges of globalisation which might be faced by McDonald atthe time of expansion?How to identify role of globalisation in expanding business operation of McDonald ainternational scale?What are the strategies that can be used by McDonald the became successful in the globalenvironment? LITERATURE REVIEWConcept of GlobalisationAs per thoughts given by (Hitt, Ireland and Hoskisson, (2012), it has been analysed thatconcept of Globalisation simply states the process through which business organisation canfreely exchange their goods and services at international scale without any barrier. This conceptalso incudes many sub concepts like migration of workforce between two or more countries,outsourcing and offshoring of production, expansion of FDI (Foreign direct investment),emergence of global brand names etc. It can be said that this concept is not only beneficial forbusiness organisation but it has provided lots of benefits to people. It has also opened upopportunities for large scale companies as they can easily approach new market area and itscustomers which can provide high level of benefits to them (Kolb, 2014). Globalisation isdefined as the market integration at global level in order to increase national economy.Globalisation is common in financial markets like capital markets, credit markets, insurancemarkets, commodity markets and product market. It enables the sources of raw material and thisincreases the cost competitiveness in own market as well as foreign markets. Also because ofglobalisation inward investment has increased between countries. It enhances the growth of anycountry in terms of finance and market expansion. The issues of employment in countriesdeclines because of increase in trading. The strategies used by an organisation in expanding business operation at internationalscale
According to the viewpoint of Leidner, (2010), it has been analysed that there manyfactor or elements which contributes in expanding business operation of a company atinternational scale. It includes innovation, joint venture, extensive networking, good brand nameetc. It can be said that if an organisation adopts these ways at time of expanding business ininternational market then it is easier for them to succeed in less period of time. Along with this,these companies can also enhance their sales figures in the new market with innovative concept.As a result, it is easier for companies to expand its business in new country by adopting rightway (McGrath,2012). Apart from this there are several ways which can be used by McDonald'sfor expanding business at international scale. Explanation of these are as follows :- Direct Exporting – It is direct selling products and services in the selected market areathrough the assistance of distributor, agent as well as distributor for representing theorganisation into further market. Both of them become face of the company as well asimportant part is that organisations choice of agents as well as distributors will managethings in effective manner as same like hiring key staff persons (Kowalkowski and et.al.,2015). Franchising - It is the process through which organisations can expand their business atglobal level (Moser,2012). In franchising right as well as authority is granted by oneparty to another for using their trademark, trade name and many other business system.Their is one time fees which is paid by the person who is taking franchise amount paidalso involve some percentage of sales revenue which is royalty or gains. Thus,McDonald's is using franchising market expansion tool for expanding their business atglobal level. Joint Venture – It is a form of partnership which involves creation of third independentlymanaged organisation. In other words this can be said, joint venture is 1+1=3 process orin joint venture two associations get agree on particular market, situation and then worktogether (Bocken And et.al., 2016). Moreover, within joint venture organisation risk andprofit will be shared equally among each and every partner. Licensing – It is the form of written document or agreement through this owner of onecompany grant permission to another party for utilising their property. In other words itcan be said that, licensing is an legal agreement in which licensor gives authority tolicense for production and selling goods by apply brand name or trademark as well as use
patented technology owned by the licensor (Pollock, Wick and Jefferson, 2015).Moreover, in the licensing procedure the licensee have to submits written documentrelated to the conditions in order to the utilisation of licensor's property as well aspayment agreement which is named as royalties.Out of all these McDonald's can use franchising business expansion technique for doingbusiness at international level. Challenges of globalisation According to the perception of Taylor and Derudder, (2015), it has been evaluated thatglobalisation is broad concept which includes huge number of benefits and opportunities forbusinesses as well as people. But, at the same time it contains many challenges too whichbecomes barriers for companies while expanding its business at international scale. It can be saidthat some of the main challenges for companies expanding its business at international scaleincludes arrangement of financial funds, human resources, cultural barriers and many other. Ithas been identified that it is difficult for the companies to expand its business in the internationalmarket if they ignore these challenges. Thus, for effective business expansion, its better fororganisation to initially analyse market and conduct an appropriate research on market. Afteranalysing chosen country and market, the company can easily operate its business without facingmuch difficult (Prajogo and Olhager, 2012). Below mention are some challenges which is facedby McDonald's while doing business expansion such as :- Unfamiliar culture – Every country have their own culture that is different from eachother and it may be the challenge which faced by McDonald's while doing businessexpansion. Because it is not necessary that offering of same product and services in everynation will be like by their population. Thus, for sustaining in competitive market it isnecessary for respective organisation to analyse culture of nation in which they areexpanding business (Bretos and Marcuello, 2017). So they can satisfy their existing aswell as potential customers. Language barriers – It become one of the major challenge for McDonald's while doingbusiness at global level. Because every nation have their own local language whichbecome problematic for respective organisation (Salas and et. al., 2012). Thus, forcoming out of this problem McDonald's have to hire staff members who known differentlanguages as well as having capabilities of explaining features of their offerings. If staff
member will not understand language of their customer then it become difficult for themto serve them in appropriate manner and satisfying also. Legal issues - Every country have their laws and legislation which should be followed byorganisation as well as people living over their (Shultz and Adams, 2012). Thus,McDonald's also have to keep in mind all the legal factor while doing business at globallevel it includes tariffs and exports fees, minimum working hours of labour, wages to bepaid, equality act and so on. Although, it is the major challenge which faced by theMcDonald's while doing business at global level. Moreover, it is necessary for respectiveassociation to do work by keeping in mind all the regulation which is framed by thegovernment. So they can sustain in market for long duration and gain competitiveadvantages. Their is an another important legal factor that is taxation. Because each andevery country have different taxation policies and rates which give impact on the price ofgoods and services. Role of globalisation in expanding business operationOn the basis of thoughts of Shenkar, Luo and Chi, (2014), it can be said that globalisationplays an essential role in the business expansion of a company. It has been identified thatGlobalisation makes it easier for companies to indulge into free flow of goods, services,manpower, resources and many other things. This reflects that with the concept of globalisationcompanies can easily maximise their business profitability in effective manner. There are severalrole performed by the globalisation in expanding business operations. Explanation of these are asfollows :- Greater awareness – Through globalisation organisation are getting knowledge about thetaste, preferences, culture, religion of different nation customer. This is important andplay crucial role in enhancing customer base. Because without identifying all these factorit become difficult for McDonald's to satisfy their existing as well as potential customerand result in decreasing brand image within market area. Location flexibility – Operation of McDonald's gain location flexibility while doingbusiness expansion at global level (Thomas, 2017). They can easily locate their newproduct and services within any market as well as such practices allow them in gainingbenefits of low cost labour and several other resources charges. Strategies that can be used by McDonald the became successful in the global environment
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