Importance of Globalisation for Marks & Spencer
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Added on 2020-10-23
Importance of Globalisation for Marks & Spencer
Added on 2020-10-23
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Research Proposal
Table of ContentsCHPATER 1: INTRODUCTION ...................................................................................................1Overview of research..................................................................................................................1Background of research...............................................................................................................1Rationale of Research.................................................................................................................2Aim of research...........................................................................................................................2Research objectives.....................................................................................................................2Research questions......................................................................................................................3CHAPTER 2: LITERATURE REVIEW.........................................................................................4Concept of globalisation.............................................................................................................4Importance of globalisation for Marks & Spencer company......................................................5Impact of globalisation in success of business of Marks & Spencer firm.................................6Complexities Marks & Spencer face at the time of globalise its business..................................7CHAPTER 3: RESEARCH METHODOLOGY.............................................................................9Type of Investigation..................................................................................................................9Research Approach.....................................................................................................................9Research techniques..................................................................................................................10Research philosophy.................................................................................................................10Research Design........................................................................................................................10Data collection..........................................................................................................................11Data sampling............................................................................................................................11Analytical technique..................................................................................................................11Ethical issues.............................................................................................................................11CHAPTER 4: TIMESCALES.......................................................................................................12CHAPTER 5: DATA ANALYSIS ...............................................................................................14CHAPTER 6: CONCLUSION AND RECOMMENDATION ....................................................22Conclusion.................................................................................................................................22Recommendations.....................................................................................................................22CHAPTER 7: REFLECTION AND ALTERNATIVE METHODOLOGIES..............................22
Reflection..................................................................................................................................22Alternative methodologies........................................................................................................23REFERENCES..............................................................................................................................24
Topic:To determine importance of globalisation and its impact on success of business. CHPATER 1: INTRODUCTION Overview of researchGlobalisation refers to process through which business and some other firms developtheir international influence. It is procedure of integration as well as integration between people,government and firms of various nations. In this, globalisation is basically business activitieswhich consist cross border transactions of services, resources and products among two or morethan two nations. It is free movement of the services, people and products across world in anintegrated way. Under this, globalisation implies opening of the nationalistic as well as localperspectives to wider outlook of independent and interconnected world with the free transfer ofproduct, services and capital. Globalisation is helpful in making the business successful andtarget the large market share (Agrawal, 2017). The globalisation helps in overall economicdevelopment of country through foreign investment that triggering the saving with in countrywhich can use in other investment. The globalisation is helpful in developing as well asaccelerated the generalizing process of process and character of the production. It leads to theenhanced competition level. It can be concerned with cost of service and products, adoption ofnew technology, quick response, target market and many others. If firm will provide its goods atless cost in international market then it helps in increase its market share. It is helpful in providebetter opportunities along with efficiencies for those organisations which are going to beglobalised because through this, company can target new market and gain competitive benefits.In context to globalisation, it is based on the international strategies and its main aim is to expandits business operations at international level. Background of researchGlobalisation describes procedure through which regional and national economies,culture and societies have became more integrated by communication, transportation, globaltrade network and immigration. The main facts which affects globalisation are business life,environment, society and economy. These all changes are mainly concerned with enhancingcompetition along with rapid technological changes. The globalisation leads to enhancedcompetition level. It can be related with service, product, target market, cost, quick responses etc.through firms. Marks & Spencer is large size organisation and it deals in retail sector. This firm1
conduct its business operations at international level. It is large brand and has around 150 storesin about 30 countries consisting 130 franchises which operating business across globe. Its dealsin home products, food items, clothing etc. The main reason of Marks & Spencer for making thebusiness globalise is to enhance market and also gaining attentions of internal consumers.Globalisation is helpful for Marks & Spencer to making the business successful by target newmarket and make strong customer base. In addition to this, globalisation provide the competitivebenefits to business of Marks & Spencer through developing positive communication, free trademovements, target international market and many others. It is helpful in developing the strongand positive relationship among the two different countries (Goswami and Narwal, 2014). In recent years, Marks & Spencer company suffered succession of adversities in nationaland international market. The marketing philosophy of this company is high and it is followedfor long period of time. Its philosophy is to develop high quality of services or goods inrecognised brand and advertise by word- of- mouth. At international level, it has high competitorso it is necessary for this firm to develop effective strategies so that it can deal with them andgain competitive benefits. Rationale of ResearchThis research is based on determine importance of globalisation and its impact on successof business. The main rationale of conducting this research is to know about the globalisationand its main role in making the business successful. By conducting this research, skills andknowledge of an investigator will be enhanced and it will help in future in conduct anyinvestigation. Aim of researchThe main of this investigation is to “To determine importance of globalisation and itsimpact on success of business.” A case study on Marks & Spencer. Research objectivesThe different objectives of this research are mention below:To determine concept of globalisation.To analyse importance of globalisation for Marks & Spencer company.To identify impact of globalisation in success of business of Marks & Spencer firm.2
To determine complexities which Marks & Spencer face at the time of globalise itsbusiness.Research questionsUnder this, investigator is responsible for explain exact research questions list so that itcan provide some guidance for finish all research related work. The research questions arecreated on the basis of research objectives. There are various research questions related tospecific subject area mention below:What is concept of globalisation?What is importance of globalisation for Marks & Spencer company?What is impact of globalisation in success of business of Marks & Spencer firm? What complexities Marks & Spencer face at the time of globalise its business?3
CHAPTER 2: LITERATURE REVIEWLiterature review is a kind of review articles that consists current knowledge involvingsubstantive findings. It includes critical analysis and also integration of relevant informationfrom various sources and consider gaps in literature for future investigation. This part of researchconsider the different opinions and view points of different authors. Under this, data orinformation is collected from secondary sources for an instance books, journals, articles etc.Through literature review investigator can generate in- depth overview of the different aspectswhich are concerned with specific area. This part of research, is helpful in providing the reliableas well as valuable outcomes. Under this, researcher uses different models and ways forconducting an investigation on specific research area. Concept of globalisationOn the basis of opinion of Hirst, Thompson and Bromley (2015) it has been stated thatGlobalisation is an integration of two different terms economies and societies cross the country.In the flow of information, goods, services, ideas, technologies, capital, people and finance.These are factors which the connect the counties in terms of globalisation. There are severaldimensions of cross country integration are social, culture, economical and political. Thechannels which combine cross borders are movement of capital, flow of finance and trade ofgoods & services. The flow of capital cross the countries plays the curial role in increasing theproduction base. Its very difficult to identifies the globalisation is primary factor to deterioratethe distribution of income. Growth of developing countries whether its a GDP or per capita GDPis more then industrial countries. The increasing rate of consumption of goods and services of thecompanies available everywhere in the country. The technology need to be replaceable &invariants to produce these goods. As per opinion of Kenton (2018), it has been stated thatglobalisation represents global integration of the international investment, culture, trade andinformation technology. In addition to this, policies of government are designed to openeconomies internationally for enhance development in poor countries and increase their livingstandards. With the help of globalisation, firms can gain competitive benefits from minimumoperating costs and also access to raw materials along with additional markets. 4
Importance of globalisation for Marks & Spencer companyAs per opinion of Beck (2018) it has been stated that Globalisation is process ofinternational integration that arising from interchange of the products, views and some of theother cultural aspects. It has enable firms to be specialise and enhance intensity of research anddevelopment, capital and innovation in output. It helps is minimize high inflation rates andgiving strong consumer base. Under this, it is force that shapes contemporary world, affectingenvironment, society and business which are linked through capital flows, information. Marks &Spencer is a large size company and it conduct its business operations as well as activities atlarge scale. In order to expand business at large scale, Marks & Spencer firm develop effectivestrategies and use new technologies for long- term success of business. The importance ofglobalisation to Marks & Spencer mention below:Open up international access- Globalisation is one of the effective way to make businessinternational or conducting business operations from outside of boundaries. In addition to this,evolution of the digital communication has open small size business to international market thatthey can be reach with the help of social media platforms, mobile marketing campaigns andwebsite content. Minimize cost of consumer service- Marks & Spencer run e- commerce business so it isnecessary for its staff of customer service department to handle al complaints as well as orders.In addition to this, globalisation helps in made this possible to Marks & Spencer by outsource itscustomer service to remote the international staff for handle 24/7 customer enquiries. It is helpfulin minimize expenses and give outstanding services to consumers.Economies of scale- On the basis of opinion of Kuepper (2018), Globalisation is enableMarks & Spencer firm to realize an economies of scale that helps in minimize costs. It will behelpful in economic development of country and enhance business at large scale. Enhance quality of services and products- Under this, as result of globalisation, peoplehave to access better quality of services and products in all over the world. It is necessary forMarks & Spencer to provide high quality of services to customers on the basis of theirpreferences and needs so that they can be satisfied and sustain for long period of time at marketplace. If firm will provide high quality of products at international market then it will be helpfulin sustain in international market and increase its market share. 5
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