Globalization and Business Success

This assignment analyzes the impact of globalization on business success. It specifically focuses on Legal & General Plc, investigating how globalization has contributed to its profitability and identifying areas for improvement. The research explores the role of diversified financial services, such as insurance products with varying terms and asset management services, in enhancing business performance within a globalized environment.

RESEARCH PROJECT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
P1 Preparing research proposal for defining aim and objectives supported by review of
literature......................................................................................................................................1
Research Proposal.......................................................................................................................1
Aim..............................................................................................................................................1
Objectives....................................................................................................................................1
Research Questions.....................................................................................................................1
Research Rationale......................................................................................................................1
Review of Literature...................................................................................................................2
Theme 1- Role and influence of globalisation in elevating performance...................................2
Research Methodology...............................................................................................................3
Research Time Plan....................................................................................................................4
P2 Examining research methodology for primary and secondary research................................5
P3 Producing research in consideration of costs, access and ethical issues................................5
P4 Applying tools of analysis and research findings..................................................................6
P5 Communicating research outcome.........................................................................................7
P6 Reflection of applied research methods...............................................................................16
P7 Considering alternative research methodologies.................................................................17
RECOMMENDATIONS...............................................................................................................17
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

TOPIC: HOW GLOBALISATION DRIVES SUCCESS TO BUSINESS
INTRODUCTION
Globalisation has played important role in making cross-border sales possible. Present
research deals to assess how globalisation drives success to business in maximising performance
in financial services' sector by taking Legal & General Plc. Research proposal will be produced
by taking review of literature, research methodology, aim and objectives. Furthermore,
appropriate research methodologies will be used. Research outcomes will be attained and
communicated to audience. Reflection regarding research methods will be enumerated.
Alternative research methodologies would be discussed and lastly recommendations and
conclusion will be provided.
P1 Preparing research proposal for defining aim and objectives supported by review of literature
Research Proposal
Aim
“To assess how globalisation drives success to business in maximising performance in
financial services' sector- A study on Legal & General Plc”
Objectives
 To analyse current trend in the financial services sector in the UK.
 To assess role of globalisation in elevating performance of Legal & General Plc
 To prove importance of globalisation in maximising performance of Legal & General Plc
 To recommend ways for which overall performance can be enhanced
Research Questions
Q1. What are the implying factors of globalisation leading to accomplish success of Legal &
General Plc?
Q2. Do globalisation is important to Legal & General Plc in maximising performance in
international market?
Q3. What role does globalisation plays for Legal & General Plc in enhancing performance?
Research Rationale
Purpose of conducting this research study is that in recent decades, globalisation is
guiding factor which is influencing performance of multinational corporates. Legal & General
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Plc, the oldest provider of financial services in the UK is having international operations. Reason
for selecting study is how globalisation is proving to be beneficial for earning success of
company. Next important reason is to assess role of globalisation in maximising performance.
Hence, research will provide useful insight for assessing how globalisation drives Legal &
General Plc to earn and celebrate success.
Review of Literature
Theme 1- Role and influence of globalisation in elevating performance
Asteriou, Dimelis and Moudatsou (2014) says that globalisation has been influencing
corporates regarding way of doing business in the best and efficient way. Larger operations can
be attained worldwide in order to upscale business towards new heights. The diversified client's
needs are of major focus and they are to be provided with higher benefits in a better manner
(Claudiu. 2012). Handling diversified investment portfolios of customers are of major concern
which has major role in influencing profits of company. Ever-changing demand are to be
evaluated so that business may be able to earn desired sales and earn profits in a better manner.
However, Prilleltensky (2012) says that operations are becoming difficult due to
globalisation has paved the way for increased demands of clients and requirement of more
diversified operations is maximising day-by-day. It is needed that operations may be handled in a
better manner for deriving better results by company. Diversified demands for fresh insurance
covers, different life insurance with term period and managing investment are all need of an
hour. Globalisation has largely influenced and played an important role in meeting these
demands with more proactive approach and way of doing business is changed as well. Well-
mannered strategies are to be implemented so that competitors may be outreached for enlarging
market share.
Theme 2- Importance of globalisation in enhancing performance
In accordance to Mukherjee and Krieckhaus (2012), globalisation has proved to be
beneficial for financial system of economy of UK. The technological advancement is one of the
important influential factor which have changed the way for doing business and accomplish
success in the best manner possible. Financial products and services are in abundant manner in
which customers have arrayed of choices for maintaining their investment portfolio. Capital
flows are becoming better benefiting whole economy and correcting balance of payment. It
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means that economy is becoming highly stable as finance services sector is increasing at a rapid
rate.
As per the views of Deepak (2012), various financial services are being provided to
companies which is meeting demands and needs of customers in the best manner possible. Wide
reach to customers is becoming possible and as a result, business is able to accomplish higher
sales as international demand of customers are met in the best way possible. It means that
globalisation has enhanced operations and overall performance of organisations by expanding
and maintaining cross-border sales in a better manner. It implies that business is able to maintain
higher sales and attainment of desired profits in effective manner.
Research Methodology
Research Type-
There are basically two types of research like qualitative and quantitative. In present
research, qualitative research type will be taken into consideration. This will be taken in order to
assess how globalisation leads Legal & General Plc to accomplish enhancement in overall
performance.
Research Design-
The widely used research design are exploratory and descriptive (Mackey and Gass,
2015). In current study, exploratory research design will be selected for exploring variables
which leads to drive success of company. This will help to analyse how globalisation has
benefited Legal & General Plc.
Research Approach-
The research approach is of two types such as inductive and deductive. It can be said that
both these approaches can serve the purpose of research. However, since research will be of
qualitative nature, inductive approach will be suitable for assessing driving factors of
globalisation towards success of firm.
Research Philosophy-
The research philosophy consists of positivism and interpretivism. Out of them,
interpretivism philosophy of research will be used in order to analyse what factors drive business
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towards success in the best manner possible (Silverman, 2016). Hence, with the help of the same,
theoretical framework would be identified.
Sampling-
Sampling becomes necessary for attaining viewpoints of desired population quite
effectually. Simple random sampling method will be deployed by taking into account 30
managers as respondents. Thus, questionnaire will be sent to them and then duly filled by them
in stipulated time.
Data Collection-
The data collection is one of the important part of research methodology (Flick, 2015).
Data can be collected from primary and secondary source. In current research, primary source
will be used by providing questionnaire to 30 respondents for gaining their viewpoints. On the
other hand, secondary research will be conducted by taking reliable sources such as books,
scholarly articles, journals etc.
Data Analysis-
Data analysis will be conducted by taking into account thematic analysis. This means that
themes will be prepared on the basis of questionnaire. This would help in attaining results in the
best way possible. Hence, by preparing themes and charts, proper interpretation will be done.
Research Time Plan
Activities (in
weeks) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Formulating
Proposal
Creating aim
and objectives
Research
Rationale
Devising
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research
methodologie
s
Data
collection by
taking
primary and
secondary
sources
Examining
collected data
Interpreting
data
Conclusion
and
recommendati
ons
Submitting
first draft
Modifying
report as per
feedback
comments
Final
submission
The above research time plan shows that research will take 16 weeks to get completed
and results will be accomplished thereof.
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P2 Examining research methodology for primary and secondary research
The research type of qualitative in nature can be conducted. For conducting this, primary
and secondary sources are required to be used. Primary research is first-handed research which is
used for meeting fresh data in effective manner for complying with research purpose in a better
way. Primary data can be collected through observation, circulating questionnaire or conducting
survey for the purpose of research quite effectively. By analysing this, scholar has used
questionnaire method of collecting primary data.
On the other side, secondary research is termed as already gathered data for conducting
research. Scholar can use second-hand data if it meets criteria for current research. This means
that books, journals, scholarly articles, sources on internet (Bresler and Stake, 2017). It means
that researcher can use both primary and secondary research for getting desired results. Hence, it
can be said that both sources are quite useful for attainment of research results.
P3 Producing research in consideration of costs, access and ethical issues
 This is formal and approved document and also help to defined that how project
should be monitored, controlled and executed. Thus, project management plan has
defined following manner as- Project scope- The present report is based on to determine the impact of globalised factor
that aids to drive success in business. In order to conduct research activities effectively,
the proper outline to project must be given and quality specification must be maintained.
 Costs & access - The cost is required to be incurred in research for completing the same
in shortest possible time. There are various costs such as indirect costs, complying with
international laws, facilities and many other expenses for getting research completed in a
better manner. It also includes travelling expense, stationery expenses as well. Low
research costs are incurred as it is the biggest advantage of conducting qualitative
research. Access can be defined in research that proper academic practices are taken into
account. This clearly implies that researcher has taken necessary measures for not
harming sentiments of respondents (Fletcher, 2017). On the other hand, due consent has
been taken by scholar from respondents. They are not forced to fill questionnaire and no
biased behaviour is exercised. Thus, all these considerations regards access is taken.
 Time- In project management plan, the activities are must be given the particular
deadline so that each things can be accomplished in given time period.
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 Resources- The project plan needs number or resources as man, labour, capital etc. This
all are must have met so that all activities can be carried out with help of adequate
number of resources.
 Communication- The proper communication must be made between all team member and
stakeholder to the project management plan. By conducting activities in this aids to
accomplish the desire aims and objectives.
P4 Applying tools of analysis and research findings
Research Type-
This is method that has been classified into the several categories as qualitative and
quantitative. Under this, qualitative research has been conducted by researcher for attainment of
research objectives. It has helped in assessing how globalisation drives success to Legal &
General Plc for maximising performance. On the other hand qualitative research can be useful
collect the data with help of statistical tool and techniques.
Research Design-
This aids to define the proper outline of project activities. It is inclusive of step by step
action. The research design imparts proper schema of project. In simple words, adequate
direction is provided to researcher in effective manner. These are classified as descriptive,
exploratory etc. In accomplishing this, researcher has used descriptive research design for
properly exploring variables of globalisation driving business success (Humphries, 2017).
Research Approach-
This is defined as plan and procedure with help of which better data can be conducted,
thus research approach classifieds as inductive and deductive. Under this, inductive approach
can be useful to have generalisation of conclusion. The deductive approach aids to collect
information with on the basis of experiment and survey.The research approach used by scholar is
inductive one. It has been used for effectively maintaining and proposing theoretical framework.
Hence, it has helped researcher to get appropriate results with ease.
Research Philosophy-
It is one of the belief with help of which data can be gathered, analysed and used. Thus,
research philosophies are interpretive and positivism. There are widely used two philosophies
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such as interpretive and positivism. Researcher has used interpretive philosophy for interpreting
data in effective manner (af Wåhlberg, 2017). It has been used for attaining factors of
globalisation that enhances business performance of Legal & General Plc.
Data Collection-
This method is useful in order to conduct the depths and detailed reporting over the topic
of research. Thus, data collection are of two types as primary and secondary. Under this, primary
data is used by researcher in order to circulating questionnaire to respondents (Patten and
Newhart, 2017). On the other side, for secondary data, reliable books, journals, scholarly articles
have been used.
Sampling-
This is method that aid to conduct the proper observation with help of taking particular
size of sample. Thus, sampling are classified as stratified, cluster, systematic, random etc.
Researcher has used simple random sampling method for present research. By providing
questionnaire to 30 managers acting as respondents, purpose of primary data collection has been
served with ease.
Data Analysis-
Data analysis is integral part in accomplishing concrete results. For this, themes are
prepared on the basis of questionnaire being provided to participants. Furthermore, for lucrative
purpose, charts are drawn for easing-off interpretation of data. In order to conduct the data
researcher has used thematic analysis so that proper outcomes can be drawn.
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P5 Communicating research outcome
Questionnaire
Name-
Age-
Gender-
Demographic profile-
Q1. Do you agree that globalisation has benefited Legal & General Plc in maintaining higher
performance?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q2. Which among these is most influential advantage of globalisation to Legal & General Plc?
 Maximised productivity
 Maintaining higher customer base
 Increased market share
 Elevation in profits
Q3. Do you think that Legal & General Plc has benefited due to cross-border sales?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q4. Do costs of providing financial services by Legal & General have significantly lowered?
 Yes
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 No
Q5. Do you think that for maintaining appropriate market share, newer business model has to be
implemented by organisation?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q6. Do globalisation has led to ever-changing demand of international customers because of
diversified investment needs?
 Yes
 No
Q7. Do you agree that globalisation has significantly increased competition on worldwide
basis?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q8. Kindly provide suggestions for improving services.................
Theme 1- Globalisation has benefited Legal & General Plc
Q1. Do you agree that globalisation has
benefited Legal & General Plc in maintaining
higher performance? Respondents
Strongly Agree 10
Agree 9
10

Strongly Disagree 5
Disagree 6
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
10
9
5
6
Respondents
Interpretation-
It can be interpreted that 10 respondents said that globalisation has benefited organisation
in maintaining higher performance. 9 have agreed with the same. However, 5 respondents have
strongly disagreed and remaining 6 have disagreed as they think that Legal & General Plc is not
benefited. Thus, it can be justified that business is effectively benefited through globalisation as
majority participants have answered in favour of it.
Theme 2- Maintaining higher customer base
Q2. Which among these is most influential
advantage of globalisation to Legal & General
Plc? Respondents
Maximised productivity 8
11

Maintaining higher customer base 9
Increased market share 5
Elevation in profits 8
Total 30
Maximised productivity
Maintaining higher customer base
Increased market share
Elevation in profits
0
1
2
3
4
5
6
7
8
9
10
8
9
5
8
Respondents
Interpretation-
It can be referred to above chart that 9 participants said that maintaining higher customer
base is most influential benefit of globalisation. While, 8 participants answered in favour of
maximised productivity and other 8 said profits are elevated by Legal & General Plc. On the
other hand, remaining respondents answered market share is increased.
Theme 3- Legal & General Plc has benefited due to cross-border sales
Q3. Do you think that Legal & General Plc has
benefited due to cross-border sales? Respondents
Strongly Agree 11
Agree 6
12

Strongly Disagree 8
Disagree 5
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12 11
6
8
5 Respondents
Interpretation-
It can be analysed that 11 respondents strongly agrees that cross-border sales is attained
due to globalisation. Moreover, 6 agree with the statement. However, 8 respondents strongly
disagree that cross-border sales are not increased and remaining are of the same viewpoint. Thus,
it can be justified that due to globalisation, cross-border sales are earned.
Theme 4- Costs of offering financial services are lowered
Q4. Do costs of providing financial services by
Legal & General have significantly lowered? Respondents
Yes 17
No 13
13

Total 30
Yes No
0
2
4
6
8
10
12
14
16
18 17
13
Respondents
Interpretation-
It can be interpreted from the chart that costs of providing financial services are lowered
down in effective manner as majority have answered the same. On the other hand, 13
respondents said that financial services costs are not being lowered. However, it can be justified
that due to globalisation, cost of financial services are lowered.
Theme 5- Newer business model is required
Q5. Do you think that for maintaining
appropriate market share, newer business
model has to be implemented by organisation? Respondents
Strongly Agree 12
Agree 5
Strongly Disagree 6
Disagree 7
14

Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
14
12
5
6
7
Respondents
Interpretation-
It can be interpreted that 12 people have responded in favour of implementing newer
business model by Legal & General Plc. Moreover, 5 persons have agree with the same. While, 6
managers strongly disagreed with the same and remaining 7 have disagreed as well. However, it
can be justified that for enhancing performance and outreaching competitors, new business
model is required.
Theme 6- Ever-changing demand of global customers
Q6. Do globalisation has led to ever-changing
demand of international customers because of
diversified investment needs? Respondents
Yes 18
No 12
Total 30
15

Yes No
0
2
4
6
8
10
12
14
16
18
20
18
12
Respondents
Interpretation-
It can be interpreted that 18 participants said that due to globalisation, demands of
customers are ever-changing. They are significantly demanding for new products and services.
However, remaining 12 are not in favour of it. Thus, it can be justified that demands of
international customers are ever-changing as they have diversified investment needs.
Theme 7- Competition is significantly maximised
Q7. Do you agree that globalisation has
significantly increased competition on
worldwide basis? Respondents
Strongly Agree 10
Agree 5
Strongly Disagree 8
Disagree 7
Total 30
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Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
10
5
8
7
Respondents
Interpretation-
It can be referred to above chart that 10 respondents said that competition is significantly
increased in recent times due to globalisation. Moreover, 5 managers are also answered the same.
On the other hand, 8 have strongly disagreed with the same. Furthermore, 7 respondents have
disagreed with it. Thus, it can be justified that competition is maximised because of
globalisation.
P6 Reflection of applied research methods
The research methods are applied for getting results of research. Globalisation has
immensely benefited Legal & General Plc for maintaining market share in global market.
Qualitative research has been applied which has helped me in attaining theoretical aspect of how
globalisation is driving business to success. On the other hand, by carrying out research through
sampling, my interpersonal skills are improved in a better manner. Through inductive research
approach, I'm able to develop better understanding with regards to globalisation. My observation
skills and analytical skills are enhanced through data collection and interpretation. Furthermore,
I'm able to enhance my data interpretation skills and improved through ascertaining charts and
gain useful insight about research.
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P7 Considering alternative research methodologies
Research methodology has been applied for conducting research. Qualitative research has
been used for present research, however, quantitative research could be used in place of it. By
implementing this, facts and figures regarding globalisation would have to be attained.
Moreover, deductive approach would be used in place of inductive approach. Positivism
philosophy and descriptive research design would be used. This means that by considering
alternative research methodologies, entire research outcome would be different.
RECOMMENDATIONS
Hereby it can be recommended that Legal & General Plc is required to implement newer
business model so that overall performance can be enhanced. This will help to outreach
competitors in effectual manner. On the other hand, it is also recommended innovating more
financial products related to asset and investment management. This will induce customers to
buy products and avail services. Moreover, customer base will get widened with ease.
Suggestions provided by customers through feedback should be prioritised so as to enhance their
level of satisfaction and accomplish success quite effectually. This means that by incorporating
these changes, business will be able to attain benefits and earn desired quantum of profits.
CONCLUSION
Hereby it can be concluded that research study has been conducted which provides how
globalisation drives business towards success. Legal & General Plc is attaining desired profits
and is required to revamp business model and strategies for overcoming rivalry. Research
questions are being answered as globalisation plays crucial role in elevating profits of company.
On the other side, diversified financial services such as broader insurance products with different
term periods and asset management services are required.
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REFERENCES
Books and Journals
af Wåhlberg, A., 2017. Driver behaviour and accident research methodology: unresolved
problems. CRC Press.
Asteriou, D., Dimelis, S. and Moudatsou, A., 2014. Globalization and income inequality: A
panel data econometric approach for the EU27 countries. Economic modelling. 36. pp.592-
599.
Bresler, L. and Stake, R.E., 2017. Qualitative research methodology in music education.
In Critical Essays in Music Education (pp. 113-128). Routledge.
Deepak, A. C., 2012. Globalization, power and resistance: Postcolonial and transnational
feminist perspectives for social work practice. International Social Work. 55(6). pp.779-
793.
Fletcher, A. J., 2017. Applying critical realism in qualitative research: methodology meets
method. International Journal of Social Research Methodology. 20(2). pp.181-194.
Flick, U., 2015. Introducing research methodology: A beginner's guide to doing a research
project. Sage.
Humphries, B., 2017. Re-thinking social research: anti-discriminatory approaches in research
methodology. Routledge.
Mackey, A. and Gass, S. M., 2015. Second language research: Methodology and design.
Routledge.
Mukherjee, N. and Krieckhaus, J., 2012. Globalization and human well-being. International
Political Science Review.33(2). pp.150-170.
Patten, M. L. and Newhart, M., 2017. Understanding research methods: An overview of the
essentials. Routledge.
Prilleltensky, I., 2012. The what, why, who, and how of globalization: What is psychology to
do?. Journal of Social Issues. 68(3). pp.612-629.
Silverman, D. ed., 2016. Qualitative research. Sage.
Online
Claudiu. 2012 Globalization and its Effects on Financial Markets [PDF] Available Through:
<http://www.revistadestatistica.ro/suplimente/2012/1/srrs1_2012a30.pdf>.
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