Table of Contents INTRODUCTION...........................................................................................................................3 Research Topic............................................................................................................................3 Research Objectives.....................................................................................................................3 LITERATURE REVIEW................................................................................................................3 Theme 1: Concept of Globalisation.............................................................................................4 Theme 2: Role of Globalisation in success of an organisation....................................................4 Theme 3: Identification of challenges in the globalisation process and suggesting appropriate recommendations.........................................................................................................................5 RESEARCH METHODOLOGY....................................................................................................5 RESULTS........................................................................................................................................7 CONCLUSIONS AND RECOMMENDATIONS........................................................................13 REFLECTION...............................................................................................................................14 REFERENCES................................................................................................................................1 APPENDIX 1...................................................................................................................................2
TOPIC: To investigate the impact of globalisation in ensuring business success pertaining to retail sector. A case study on Morrison’s. INTRODUCTION Globalisationcan be termed as an expansion of an organisation or an individual that is done beyond the national boundaries of the home country and it involves integration of two or more economies together (Hornstein, 2015). In involves interaction, trade and exchange of anything between two or more parties that belong to different cultural and economic background. The current research will highlight that how by going global the companies can increase their chances at success and this will be taken particularly in context of the major retail company of UK i.e. Morrison’s. Morrison’s is a well-established retail brand that has its stores exclusively in the territory of Great Britain only. They have their headquarters established in Bradford, West Yorkshire, England and it is the fourth largest chain in the retail sector of UK. There are a total of 498 stores that the company majorly has in and around England, wales and Scotland and there is only one store that the company operates outside of UK and that is in Gibraltar which is a British overseas territory (Hillson, 2017). This policy of the company of operating only in the countries that are limited to the British territory is increasingly proving to be redundant and the company has clear potential as well as resources of expanding on a global level in in the international market that will widen the prospects of the company. In this research, this prospect of globalisation for the company has been analysed and the terms of success have been evaluated in the report. Research Topic To investigate the impact of globalisation in ensuring business success pertaining to retail sector. A case study on Morrison’s Research Objectives To understand the concept of globalisation. To identify the role of globalisation in increasing the success of Morrison’s. To ascertain the challenges Morrison’s can face while expansion on a global level. To suggest appropriate recommendations based on the challenges recognized. LITERATURE REVIEW Literature review helps in analysing the different viewpoints of various authors and researchers who have already conducted research on the current topic of study.
Theme 1: Concept of Globalisation Aspertheviewofauthors,GallowayandHaniff(2015),itcanbestatedthat globalisation is an extremely important venture in ensuring that an organisation experiences the method of trading on a global levels and increase its exposure. The researchers have stated that when an organisation decides to global, there are various challenges and opportunities that arise for them and this helps them in growing and developing on an international level. Further, the researchers have stated that in the current trend when the mediums of interaction on a global level have increased and become simpler, it has become more simplified to trade on a global level thus encouraging more and more companies to go global and trade on a global level. Another research paper published by authors,Dutta and Bose (2015), have helped in determining that there are a variety of methods through which a company can go global and while detailing on these, the researcher also presented a critical analysis of each method. FDI was the most preferred and successful method, as suggested by researcher that helped the companies and organisations specifically in establishing their brand name on an international level. Direct exporting should be preferred by individual companies and retailers that are trading on small scale and joint ventures can be formulated with those companies that are already existing and operating in other countries successfully. Theme 2: Role of Globalisation in success of an organisation The researchers,Chang, Walters and Wills (2018), have argued in their research paper that the process of globalisation assists an organisation immensely in giving success to the company. The authors have stated that globalisation helps in developing more and efficient markets with larger possibilities for future of earning profits. The authors further stated that it helps in increasing the current market by targeting more number of consumers, and improves the quality of the goods produced along with ensuring that the sustainability of the company also increases. Further, globalisation also increases the innovation in the market and helps them in developing a diversified cultural approach for their employees thus developing them on various different aspects which can be done only when a company decides to operate on a global level. Another research paper published by authors,DeFillippi (2015), argues that although there are a lot of benefits for a company to operate on a global level and gain success, however there are some major disadvantages as well. The companies might not always get successful and if their product fails in international market it can curb the future opportunities of the company in
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international market. Various factors like targeting wrong consumer market, pricing the product in an incorrect manner, choosing inappropriate country, selecting a wrong marketing method of the product that might hurt the sentiment of people can lead to failure of the organisation internationally. Thus, the authors concluded that globalisation should be done in a planned and precise manner after conducting and re conducting through research of the market in whi8ch the company intends to expand. Theme 3: Identification of challenges in the globalisation process and suggesting appropriate recommendations The authors,Beringer, Jonas and Kock (2018), in their research paper have presented that there are a variety of challenges that a firm or company faces when it decided to expand itself on a global level. The researchers have argued that the different policies of different economies are the biggest barrier as it makes the policy making of a company extremely difficult. Further the profits are distributed in an uneven manner which further complicates the problems. The decision making process also gets complicated and the marketers find it difficult to place their product on a global level in such a manner that they can target all the consumers in different economies. In accordance with the above, research paper published byBasu (2017), further states that additionally there are other challenges as well such as management of different economies, exercising economies of scale in order to operate successfully, ensuring that the independence of the management remains with the company only. The major challenge that the authors identified was the different political environment and condition in different environment. RESEARCH METHODOLOGY ResearchMethodologyinvolvesaseriesofresearchtoolsandtechniquesthata researcher can adopt in order to conduct his research in a relevant and conclusive manner. These research tools and techniques help in collecting, analysing and interpreting the relevant facts and figures that will help in conducting the required data analysis and providing appropriate conclusions. ï‚·Research Type:There are two basic types of research that can be conducted and these are categorised as qualitative research and quantitative research. The qualitative research is done when the data that is to be analysed comprises of opinions, reasons and facts and these are used to formulate various theories and concepts. Quantitative research on the other hand refers to the collection, analysis and interpretation of numerical facts and
figures. In the current research, the researcher has chosen qualitative research since he is analysing various concepts related to globalisation. ResearchPhilosophy:Researchphilosophyreferstothebeliefoftheresearcher regarding the method that should be used in order to collect the data. Interpretivism approach refers to qualitative study where the researcher tries to analyse the social theories and facts and then formulate appropriate results and positivist approach on the other hand refers to the analysing of various facts and figures in order to formulate appropriatetheories(Bartlett,DozandHedlund,2018).Inthecurrentqualitative research, the researcher will use Interpretivism approach in order to analyse different theories and draw relevant conclusions. Data Collection: Data collection involves primary and secondary research method where primary research involves collection of data by the researcher himself on a first hand basis and the secondary research involves collection of data through already published or researched journals and articles. In the current research, researcher has used questionnaire method as a primary research tool and has referenced various books, journals and articles as secondary data sources. Sampling: Sampling involves selection of respondents out of the entre universe acting as population.Inthecurrentresearch,researcherhasusednon-probabilitypurposive sampling where the respondents have been selected form a particular group that would yield maximum and accurate results but on a non-probability basis. The sample size is 30 managers working in Morrison’s Company and these will be used to analyse and conclude various results and interpretations. Data Analysis: There are various methods of analysing qualitative as well as quantitative data. In order to analyse the qualitative data the researcher can use various tools like MS- Excel, SPSS etc. and in order to analyse the qualitative data, the researcher can use thematic analysis which helps in presenting the data using various charts, graphs etc. that makes it easy to understand (Artto, Ahola and Vartiainen, 2016). Since the researcher is analysing qualitative facts and figures, he has selected thematic analysis as his research technique. Ethical Considerations:The researcher will make the respondents sign a declaration that they have not been biased in any manner and the researcher has not forced them to tinker
with their answers or opinions. The researcher himself ill also file a declaration form stating that all the data used by him is collected form authentic sources and is properly referenced. RESULTS The results from the questionnaires have been analysed in the form of Thematic Analysis and appropriate interpretations on the basis of themes have been presented. Theme 1: Working Time with Morrison’s For how long have you been working with Morrison’s? Frequency Less than 5 years12 5 – 15 years13 15 Years and above5 It can be clearly interpreted form the chart above that the majority of employees that are currently employed in the Morrison’s are mostly ranging with working experience between 5 to 15 years with a total count of 13 which is followed by the 12 employees working for less than 5 years and only 5 employees that are working for more than 5 years. This helps in determining that the research that has been carried will help in giving accurate results of the research objective and present a dynamic view. Theme 2: Awareness of Globalisation concept
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Areyouawarewiththeconceptof Globalisation in an organisation? Frequency Yes20 No10 The chart above helps in concluding that the majority of the employees working at Morrison’sareawareoftheconceptofglobalisationandacknowledge,theimportance, challenges and concept of globalisation in context of Morrison specifically. However, there are around10outof30employeeswhoarenotparticularlyawareofthechallengesthat globalisation implies and do not take Morrison’s in context with globalisation. Theme 3: Assistance of globalisation in meeting international requirement of Morrison’s WillglobalisationhelpMorrison’sin international requirements? Frequency Yes25 No5
Thispiecharthelpedindeterminingthatoutof30employees,25thoughtthat globalisation would assist Morrison’s in meeting the requirements that a company is expected to meet at global levels. There were only 5 managers who thought that currently Morrison’s is not capable enough of meeting international standards and therefore should not compete on a global level. Theme 4: Major benefit of globalisation for Morrison’s Whatwillbethemajorbenefitof globalisation for Morrison’s? Frequency Enhance customer base16 Increase business profitability10 Both of the above4
Majority of the employees i.e. 16 out of 30 think that the major benefit that the Morrison’s company would derive from its venture into the global market is of enhancing the customer base and there are 10 out of 30 employees who think that the it will increase the profitability of the business while only 4 thought that it will assist in both the activities and thus assist the company in an overall manner. Theme 5: Assistance of globalisation in enhancing growth opportunities Do you think globalisation will assist in enhancing growth opportunities for Morrison’s? Frequency Yes27 No3
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As per the chart illustrated above, it can be clearly ascertained that the maximum number of employees working at Morrison’s amounting to 27 out of 30 employees were found to think and believe that the globalisation will help the Morrison’s in attaining growth opportunities while only 3 employees believed that Morrison will not be able to utilise the advantage of going global and therefore, they thought that Morrison’s should not go global yet. Theme 6: Major challenge for Morrison’s while globalising What will be the major challenge for Morrison’s while globalising? Frequency Policy Formulation9 Marketing Activities7 Cultural Balance10 All of the above4
There are a variety of the challenges that Morrison’s can face while expanding on a global level and the employees of Morrison’s, out of 30, 10 of them rated cultural balancing as a major challenge for Morrison while expanding on a global level followed by 9 of them stating that the correct formulation of policies that are to be implemented will be a major challenge for the company while 7 employees put of 30 stated that they thought developing correct marketing activities was a major challenge for the company and lastly, only 4 employed categorised that Morrison’s will face all of the challenges while expanding. Theme 7: Suggestions for Morrison’s What can you suggest for Morrison’s in order to minimise their challenges? Frequency Regular study of current trends10 Analysing the cultural aspect7 Economic Balance8 All of the above5
The above bar graph depicts the various suggestions that have been formulated by the employees working for Morrison’s and which would be the best suggestion for the company in order to minimize the challenges faced by them. Out of 30, 10 employees stated that Morrison’s should regularly analyse the current trends prevalent in the country in which they are planning to expand fo9llwed by 8 of them stating that they should try to maintain economic balance between different countries and only 7 of them stated that they should analyse cultural aspect as well closely so that the problems while expanding can be minimised and only 5 agreed that the company should adopt all of the measures that have been stated above. CONCLUSIONS AND RECOMMENDATIONS Based on the research conducted above, it can be summarised that while adopting the globalisation process, a company experiences many challenges and barriers but still the success that they are able to achieve is unquestionable. This research helped in concluding that since Morrison is currently operating only in the territorial Europe and since it is a top retail chain in UK, there are a variety of countries and economies in which the company can expand. The data analysingconductedinthisresearchbasedonformulationofvariousthemeshelpedin concluding that the company is currently possessing adequate, skills, knowledge and resources that will assist the company in expanding on a global level. Further it was also analysed that the employees i.e. managers on whom the questionnaire analysis was done in order to collect the relevant data agreed that the company is currently ready to expand on a global level and it must
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do so in order to pace up with the current market trends and based on the conclusion and analysis done above following recommendations can be made: The company i.e. Morrison’s should adopt FDI as the expansion mode since it will help the company in establishing their own brand in international markets. Majority of the personnel that is employed in the company is experienced and therefore, their experience in the industry can be effectively used to combat the challenges that might arise while expanding on a global level. The company should ensure that the countries in which they decide to expand are politically and economically study and before selecting a single country they should analyse the cultural trends that are being followed in the country along with the political relations of UK with that respective country. Use of social media technology is one such additional tool that the company can use in order to market their products and activities directly and precisely. It will help them in placing effectively in the global market without compromising on the customer’s mind set. Since company has already established themselves quite effectively in the retail segment of UK, it will be very easy for them to expand in one country at a time as they have the expertise, resource and required time to trade on a global market and they will be able to expand in a successful manner. REFLECTION During the entire process of conducting this research, there were some good aspects and some major challenges that I had to face and overcome so that I could conduct and complete this research in a successful manner. The collection of data pertaining to the managers working in the company helped me in learning about how the employees play a huge role in analysing the current position and future expansion potential of the company. I was also able to identify my strengths and weaknesses in the entire process and I determined that my analytical and data collection skills were extremely well developed since I was easily able to collect and analyse the required data. However, my time management skills are not so effective and therefore I was not able to manage everything on a timely basis. Further I also learned that here are many tools and techniques that I could have used in the research if I had adequate knowledge about it and this would have further refined my entire research that I conducted. This research however assisted
me in developing appropriate and in-depth knowledge about the importance of globalisation and what are the challenges that a company can face in their entire expansion process.
REFERENCES Books and journals Artto, K., Ahola, T. and Vartiainen, V., 2016. From the front end of projects to the back end of operations:Managingprojectsforvaluecreationthroughoutthesystem lifecycle.International Journal of Project Management.34(2). pp.258-270. Bartlett, C.A., Doz, Y. and Hedlund, G., 2018.Managing the Global Firm (RLE International Business). Routledge. Basu, R., 2017. Managing quality in projects: An empirical study.International journal of project management.32(1). pp.178-187. Beringer, C., Jonas, D. and Kock, A., 2018. Behavior of internal stakeholders in project portfolio management and its impact on success.International Journal of Project Management. 31(6). pp.830-846. Chang, V., Walters, R.J. and Wills, G., 2018. The development that leads to the Cloud ComputingBusinessFramework.InternationalJournalofInformation Management.33(3). pp.524-538. DeFillippi, R., 2015. Managing project-based organization in creative industries.The Oxford handbook of creative industries, pp.268-283. Dutta, D. and Bose, I., 2015. Managing a big data project: the case of ramco cements limited.International Journal of Production Economics. 165. pp.293-306. Galloway, L. and Haniff, A., 2015. Managing projects in architecture: a study of leadership in a creative industry.Open Economics and Management Journal.,2(1). Hillson, D., 2017.Managing risk in projects. Routledge. Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity.International Journal of Project Management.33(2). pp.291-298. 1
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APPENDIX 1 Questionnaire Name: Age: Contact Number: Email ID: Q1. For how long have you been working with Morrison’s? Less than 5 years 5 – 15 years 15 Years and above Q2. Are you aware with the concept of Globalisation in an organisation? Yes No Q3. Will globalisation help Morrison’s in international requirements? Yes No Q4. What will be the major benefit of globalisation for Morrison’s? Enhance customer base Increase business profitability Both of the above Q5. Do you think globalisation will assist in enhancing growth opportunities for Morrison’s? Yes No Q6. What will be the major challenge for Morrison’s while globalising? Policy Formulation Marketing Activities Cultural Balance All of the above Q7. What can you suggest for Morrison’s in order to minimise their challenges? Regular study of current trends Analysing the cultural aspect 2
Economic Balance All of the above Q8. Any suggestions that you can give for Morrison’s Company. ____________________________________________________________________________ ____________________________________________________________________________ 3