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Impact of Globalization on Business Functions

   

Added on  2021-02-20

21 Pages4587 Words349 Views
MANAGING A SUCCESSFUL BUSINESS -2

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3P1 Project aim and objectives for chosen scenario..........................................................................3P2 Project management plan that cover aspect of cost, time, quality, communication, risk and resources..........................................................................................................................................4P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes and stages for completion.......................................................................................................................................5P4 Qualitative research....................................................................................................................6P5 Analysis of data using appropriate tools and techniques............................................................9P6 Recommendation on basis of data analysis..............................................................................16P7 Value of undertaking research and learning.............................................................................17CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18APPENDIX....................................................................................................................................20YFigure 1Project details.....................................................................................................................5Figure 2 Gantt chart.........................................................................................................................5Figure 3Network diagram................................................................................................................5Figure 4Opinion on Globalization impact on firms.......................................................................10Figure 5People opinion on Globalization and cost control...........................................................11Figure 6People opinion on enhancement of ROI on business operations.....................................12Figure 7People opinion on development of cultural understanding..............................................13Figure 8People comment on globalization and transparency........................................................14Figure 9Globalization and cooperation among teams...................................................................15Figure 10Globalization and knowledge transfer............................................................................16

INTRODUCTIONGlobalization is the buzzing word of the 21st century as most of nations of the world areopening their gates for the foreign business firms by reducing trade barriers and giving relaxationin FDI conditions. In the current research study multiple benefits that firm receive fromglobalization are evaluated. Literature review is done by considering aims and objectives.Thereafter research methodology section is prepared and then data analysis is done. Sample of30 people is taken and obtained results are interpreted to arrive at specific conclusion. At the endof the report learning from entire research work is presented.P1 Project aim and objectives for chosen scenarioIn past few years globalization increased at rapid pace. With passage of time country’sacross the globe lift restrictions from the trade and this promote globalization across the world.Organizations like world trade organization also place crucial role in eliminating trade barriersbetween the countries (McElroy, 2018). In the present research study main emphasis is onidentifying positive impact of globalization on business functions in terms economic, culturaland ethical factors. In order to carried out research study aim and objectives are prepared whichare given below.Aim: To identify positive economic, cultural, and ethical impacts of globalisation on differentbusiness functions within organisations.ObjectiveTo identify positive impact that globalization has on the operations of the business firm in termsof knowledge sharing, efficiency, cost cutting, productivity and technology sharing.To identify positive impact that globalization has on organization culture across departments.To find out ethical impact that globalization has on the varied departments of the Tesco.Research questions

What are the positive changes in terms of economic factor that are observed in the business firmdue to globalization ?What are the cultural changes that happened due to globalization and have positive impact on thebusiness firm?What are the ethical changes that are observed in the company due to globalization and havepositive impact on it? In the present research study by addressing these aims, objectives and research questions impactof globalization on Tesco will be identified.P2 Project management plan that cover aspect of cost, time, quality,communication, risk and resourcesWhile carrying out project it is important to carry out detailed discussion on some factors.Hence, relevant factors are discussed below.Cost : In order to control cost of the research work efforts will be taken and it will beensure that with full efficiency all tasks are performed. So that within less or reasonabletime they can be completed. This will lead to control of cost of the research project.Time : Specific deadlines in terms of hours are determined in order to ensure that alltasks related to project are completed on time and at appropriate cost.Quality: In order to complete project on time compromise can not be done with quality.Hence, due to this reason periodic checking of activities will be done (A.J. and Al-Aali,2015). This will ensure that all activities of project are not only completed on time butalso in proper manner.Communication: Regular follow ups will be taken from those that are engaged in theproject so that if there is any hindrance, it can be solved on time.Risk: There are some of the risks that are associated with the project like less sample sizeor poor quality of sample. Such kind of mistakes can generate wrong results. In order todeal with such kind of problems it will be ensured that sufficient sample size is taken allsample units have sufficient knowledge of the project.

Resources: Some of resources will be required in this project like pen, paper, laptop andHR. Appropriate mix of these resources will be prepared to ensure that cost is in control.P3 Produce a work breakdown structure and a Gantt Chart to providetimeframes and stages for completionFigure Project detailsFigure Gantt chartFigure Network diagramPERT is the common approach that is used for project planning and scheduling. In the currentreport also this approach is used to identify that when specific activity will be started and comesto end. This approach also assists in determining sequence in which activities must be performed.In the current project there are multiple steps that will be performed. Under this first of all aimsand objectives are prepared. This is because these are the points which pave a path to start

research work. After preparing aims and objectives literature review will be done which will helpin identifying whatever researchers wrote in respect to research topic. After doing literaturereview research methodology section will be prepared where multiple things will be decidedabout way in which research will be carried out (Murtaza and et.al., 2016). After preparingresearch methodology data collection will be done and finally analysis of facts to arrive atspecific conclusion in respect to research topic. In this way, entire research work will be carriedout.P4 Qualitative researchAccording to Crane and et.al., (2019) globalization has very huge impact on the businessfirms. On multiple fronts globalization put positive impact on the business firms. It is observedthat due to globalization firms now are able to control cost of production and services. This isbecause before globalization firms were not able to import raw items at cheaper cost fromforeign nations. This is because heavy tax was charged on imported item which lead to elevationin cost of product. However, after globalization nations lift heavy duty from import of items. Dueto all these reasons firms now are able to purchase raw items at cheaper rate. All these thingsoverall lead to decline in cost of production or generation of economies of scale in the business.Thus, it can be said that globalization put positive impact on business firms productionoperations in terms of cost control.Contrary to this Hassoun and Tucker Sechrest, (2015) state that if globalization generateseconomies of scale for the business firms then at same time it also creates lots of challenges forthem. Means that due to cheaper import foreign companies are making available products atcheaper rate in the market. This is developing threat for the indigenous firms. Thus, it can besaid that on one hand globalization lead to cost control of business operations but on same time italso lead to origination of cut throat competition between firms. Hence, globalization withbenefit also creates huge threat for the firms.As per views of Lumby and Foskett, (2016) globalization have positive cultural impacton the business operations of the companies. Earlier, before globalization firms have fewbranches in the international market. Different countries people have different beliefs, attitude,value system and thoughts in respect to same thing. Due to this reason conflicts among different

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