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Impact of Globalisation and Strategies PDF
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Added on 2020-12-10
Impact of Globalisation and Strategies PDF
Added on 2020-12-10
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Research Project
Table of ContentsTITLE: ............................................................................................................................................1Chapter 1: Introduction ...................................................................................................................1Chapter 2: Literature Review ..........................................................................................................4Chapter 3: Research Methodology ..................................................................................................8Chapter 4: Data Analysis ..............................................................................................................12Chapter 5: Reflection & Recommendation for Alternative Research Methodology.....................25Conclusion ....................................................................................................................................27REFERENCES .............................................................................................................................28Appendix .......................................................................................................................................30Appendix 2 ....................................................................................................................................32Research Proposal Form...........................................................................................................32Research Ethics approval form.................................................................................................40.......................................................................................................................................................43
TITLE: “To analyse the impact of globalisation and different strategies employed by businessesto enter emerging markets”. A study on Aston Martin. Chapter 1: Introduction Overview of the ResearchGlobalisation has been of great interest to nearly each business concern. Globalisation isdefined as the process in which an organisation gets more involved in the global business market.Globalisation brings multinational companies, their products or their brands to ever remotecorners of the globe (Mowforth and Munt, 2015). In this modern era, the expectation ofcustomers has changed in regards to goods and services, so the major concerned area of anorganisation is to fulfilling the desires of people in respect to attaining higher growth andsuccess. Going global is essential for each business organisation to expand their businessoperations at wide scale for the purpose of attaining significant amount of profit. At the time ofentering into emerging economies, multinational business organisations encounter businessenvironment which is vary not only through their country or origin, but also amongst each other.In this particular research project Aston Martin Lagonda Global Holdings plc. is the chosenorganisation. It is a large British autonomous manufacturer of indulgence sports cars orexpansive tourers. The organisation is majorly concern towards attaining higher growth andsuccess through enhancing its business operations at global level. This report contents studyabout the influence of globalisation and different strategies that are employees by business toenter emerging markets. Background of the ResearchIn today's contemporary business world, organisations starts their business operations atdomestic level but must create a long term plan on how the organisation will be going at globallevel. Emerging commercial centres are basically recognised as the most incomparablesurroundings that needs a systematized conceptualization, in processing novel business modelsand plan of action. Going global is one of the most essential requirement of an organisation buttargeting emerging economies is quite a different from going global (Hopkins, 2011). In thisbasically organisations are focused towards entering into some specific regions or countries forthe purpose of attaining higher growth and success within the commercial centre. It is an actual1
requirement to create strategies for conducting enterprise operations within emerging marketsthat are entirely assorted through those which are used in their home country. Aston MartinLagonda Global Holdings Plc. is a famous British autonomous manufacturer of Luxury sportscars and grand tourers. The company was established in the year of 1913 with the potentialefforts of Lionel Martin and Robert Bamford. The company has around 150 car dealerships inover 50 countries on six continents, and the company is also focused towards making themglobal auto-mobile brands. It is public limited company and has a huge concern towardsglobalisation, thus the firm has focused on expanding their enterprise functions at worldwidelevel in order to attaining high development or earnings. Rational of the ResearchThe investigation into thinking is supported on the topic of the impact of globalisationand different strategies employed by businesses to enter emerging markets. The terminternationalization of multinational organisations into an emerging market is recognised as aevolution that includes a great deal of risk in regards to volatile marketplace in the sense of bothpolitical and economical imbalance of regions or Countries. In this manner, it becomes rathercomplicated to measure how an organisation can enter in to an emerging market. Consequently,the business selects multiple paths when entering these markets for different reasons. Thepotential reason for choosing this research is to exploring the idea and knowledge base oflearners in the specified area of study (Wright, 2016). This study provides a brief knowledgeabout globalisation and the ways that are applied by multinational organisation to be globalisedor different entry modes of entering into emerging markets. This is a wide area of study which ismajorly implemented by the research for their personal interest to enhance the knowledge aboutthe specified area of study. This is a wide area of research that helps create benefits for thelearner as well, thus it is effective in creating a wide knowledge base for learners, who arewilling to knowing about the selected area of study. The enhanced knwoldge about globalsiationhelps them in attaining their future goals in appropriate manner. Moreover this is also effectivefor the individuals who are interested in exploring their business operations at global scale. Research AimThis recognised as the predetermined statement which helps the researcher inimplementing all research activities in proper manner with the consideration of attainingappropriate outcome and results. This also refers as broad and compendious statement in which2
the investigation issue is explained with the support of variables. This is the major aspect whichassist the researcher to moving ahead towards right direction. The significant aim of this existinginvestigation is "To analyse the impact of globalisation and different strategies employed bybusinesses to enter emerging markets". A study on Aston Martin. Research ObjectivesResearch objectives are the key consideration of the research thus in this variables aredetermined in the form of statements (Michie, 2011). This basically summarize what is to beachieved through the study. This section is widely interconnected with the aim of theinvestigation thus it plays vital role in providing a significant way to reaching at the potentialoutcome. This part is based on multiple objectives, in which some are associated as below: To understand the study of globalisation and its role in business success. To determine different strategies that are employed by Aston Martin to enter emergingmarkets. To access the benefits that are derived by Aston Martin by entering into emergingmarkets. To ascertain the interrelationship between globalisation and emerging market.To access the cross factors that can impact on Aston Martin production abroad.3
Chapter 2: Literature ReviewLiterature review contains a critical evaluation and the integration of data through anumber of sources and a recognisance of any gaps in the review of literature and develops aknowledge base for enhancing possibilities for future investigations. This section is effective inconducting in-depth evaluation on a particular issue with the support of authentic articles, orscholar papers etc. This recognised as the most impactful part of investigation work, as itperforms effective role in developing a brief cognition base on the nominative area of study(Mackinlay, 2013). A literature review is also explained as published data in a particular subjectarea, and former data in a specified susceptible area within a specified time duration. In thissection data has been gathered through secondary sources like books, journals, articles, scholarpapers, newspapers etc. The study of globalisation and its role in business success. As per the views expressed by Patricia Fox and Stephen Hundley, 2011, Globalisation isconsidered as the interconnectedness of an individual or businesses around the globe thateventually assist to global politics, culture or economic integration. It also refers as the ability tomoving forward and communicate with other people or organisations at world wide scale inrespect to conduct business operations globally. A potential situational change that has takenplace in the last few decades is the economic process or globalisation of an organisation.Business firms are undertaking beyond national boundaries in the pursuit of concern possibility.Globalization of business is recognised as the change in a business from a firm related with asingle country to one that runs their business operations in multiple countries (Mak, Lumbers andEves, 2012). Globalisation plays effective role in developing the operations of an organisationwithin the commercial centre and has direct or indirect impact on the global operations of a firm.There are various roles which are performed by the globalisation, some are associated as below: Increased Competition: In this modern era of commercial enterprise competition is so high andthe major convergent area of all size of business is to achieving competitive position bydeveloping the operations of the firm within the commercial centre (Craddock and et. al., 2017).This caused through more foreign investment flowing to countries, de-regulations that allows anorganisation to enter into markets by which they once precluded. 4
Economies of Scale: Globalisation develops global operations, Through selling across manycontinents or country, a business can acquire economies of large-scale production (Saal and et.al., 2013). This create value for the firm in attaining higher competitive position. Greater Awareness: This is also an essential role which is performed by globalisation, asglobalised business operations are effective in developing the awareness about the company orits offerings among its customers (Kapferer and Valette-Florence, 2018). This is also beneficialfor the company to enhance its brand image in the mind set of people. Different strategies that are employed by Aston Martin to enter emerging markets.According to the opinion of Sarah Boumphrey, 2015, The first and foremost step toeffectively launching a product or service is to select the most suitable market which is effectivefor the growth of business. An emerging market economy determines a nation's economy whichis effectively developing towards becoming more advanced, basically through the means of rapidgrowth and industrialization. Now a day's business expansion within the emerging countries arebeneficial for the development of business operations within a new area of market which is moreprogressive in-nature. Aston Martin is a famous and well established luxury brand that has workaround for 102 years. Aston Martin is recognised as one of the most iconic brands in the auto-mobile industry and the potential focused area of the firm is to developing its business operationsby expanding it at global level (Lane, 2013). The company is widely focused on developing itsoperations within emerging countries like California & Santiago, Chile, India, China etc. inrespect to attaining higher growth and success within the commercial centre. This is the mostfundamental aspect that plays vast role in expanding business within the emerging countries. Theemphasizes on macroeconomic stability, the consumer market size, growth, the middle class andthe openness. These are some required aspects which are needs to be considered by organisationwhile entering into any emerging market strategy. There are different ways that are employed byAston Martin to enter into emerging markets, in which some are associated as below: Exporting: This considered as a potential way to get into into an emerging centre. With the helpof this an organisation can develop an export setup or apply a local distributor channel, thus thisstrategy can be used by Aston Martin to become the local distributor within the emergingmarkets. Franchising: Franchising is also an effective business strategy that allows an other organizationor party to operate a enterprise under the brand name of a reputed company. For example, the5
franchiser grants the franchisee the right to use your brand name and operating systems. Thefranchisee is allowed to use the same marketing campaigns as well (Succeed in EmergingMarkets: Selection, Strategy and First Steps.). As a large brand the company Aston Martin usethis strategy to grab a wide area through developing their brand image by the acquisition withfranchisees within emerging markets as well. The benefits that are derived by Aston Martin by entering into emerging markets. As per the view of Kimberly Amadeo, Jan 2019, Emerging market is a significant keywhich drive to growth in company's economy. It is also refereed as emerging economy.Emerging market improves the standard of living and enables the company to be industrialisedand adapt mixed economy. Aston Martin has entered into emerging market and get benefitsfrom this. Some of the advantage are as follows:Helps in Growth: Emerging market enable the company to expand their product orservice as it allows firm to enter into multinational trade (Hoffmann and Kumar, 2013). Itimproves the standard of living of customer as well as company. In context to AstonMartin, their productivity has increased as they provide qualitative product whichincreased the demand of product. Resist against recession: Emerging market improves the resistance skills of company todefend against the ups and down of economy (What Are Emerging Markets? FiveDefining Characteristics). As Aston Martin serves its products and services withinworldwide so if profit of one place comes down they can earn it from other place and itimpact them to buffer against recession. The interrelationship between globalisation and emerging market. As per th views of Philippe Martin, 2014 , Today's world is fully globalised as theybelieves that whole world is a one family at the same time comapnies are entering intoemeerging market which leads them to suscess and growth. There is a relationship betweenglobalisation and emerging market which connect them and that is both leads to expansion andcareer growth of a company. Globalisation and emerging economies are considered as one of thepowerful tool which allows comapny to foresee the future (Findlay and et. al., 2012). These bothtool provides the freedom of trade of products and serrvices without no barriers and alsofacilitate migration. Because of exploiting the comapny and emerging economy it ensures theAston Martin to manufacture the qualitaive product in an affordable price. It only differ in6
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