Table of Contents TOPIC: “How globalisation can drive business success.” On the case study of Waitrose....1 CHAPTER 1: INTRODUCTION....................................................................................................1 1.1 Overview of Research.....................................................................................................1 1.2 Background of Research...................................................................................................1 1.3 Rationale of Research.......................................................................................................2 1.4 Research Aim...................................................................................................................2 1.5 Research Objectives.........................................................................................................2 1.6 Research Questions..........................................................................................................2 CHAPTER 2: LITERATURE REVIEW.........................................................................................3 2.1 Concept of Globalisation..................................................................................................3 2.2 Importance of globalisation for Waitrose.........................................................................4 2.3 Challenges that can be faced by Waitrose while globalise their operations activities.....5 2.4 Ways related with globalisation by which company can improve their overall performance at global level.........................................................................................................................6 CHAPTER 3: RESEARCH METHODOLOGY.............................................................................8 CHAPTER 4: DATA ANALYSIS...............................................................................................11 Reflection.......................................................................................................................................25 Alternative methodologies.............................................................................................................25 REFRENCES.................................................................................................................................26
TOPIC: “How globalisation can drive business success.” On the case study of Waitrose CHAPTER 1: INTRODUCTION 1.1 Overview of Research Globalisationreferstoprocedureofinteractionandintegrationbetweenpeople, organisations and government in all over the world. It has developed due to the advanced in communication technology and transportation (David and Govindasamy, 2017). It is spread of technology, products and information across cultures and national borders. The globalisation implies with opening of nationalistic and local perspectives to wider outlook of interdependent and interconnected world with the free transfer of products, services and capital across the national frontiers. It is multi- dimensional process that is characterised through acceptance of set of the economic rules for whole world that designed to enhance productivity as well as profit through universalising markets. The globalisation motives are the realistic and opportunistic but growth of globe free market has been benefited the large size firms which are based on Western World. Its affect remains on mixed for cultures, small business and workers in all around globe in emerging and developed nations. 1.2 Background of Research Globalisation is phenomenon that has brought world together at one platform where there is evident blurring of all the differences in all contemporary life aspects ranging from cultural political, social etc. It is rapid expansion of the transportation and communication which has minimized the distances and generate an interdependence between people and the nations at all levels. The globalisation has tend towards enhancing global economic integration. It is one of most largest force that impact economies of world at present. It is related to change in world where firms are moving away from self- contaminated countries and also towards integrated world. The market globalisation is decline in the barriers to selling in other countries than home country(Mazlish, 2017). This kind of change will make this easiest for firm to start selling of goods at international level, since the minimum tariffs keep customers low cost and less restrictions when crossing the boarders makes this easy for an organisation to enter in to foreign market. Waitrose is chain of the British Supermarkets that forms food retail division of largest employee-owned retailer of Britain. It has 353 shops across United Kingdom consisting 65 of 1
“little Waitrose” convenience shops. Through globalisation, Waitrose has to be sniffed the sales opportunities for its services and products in overseas markets specially in those which have strong expatriate populations such as Abu Dhabi and Dubai. On the other hand, Waitrose private level products ate sol in some of the selected supermarket outlets in 50 countries in all over world. 1.3 Rationale of Research The globalisation is necessary component that is providing the benefits to firms. It helps in enabling the organisation to operate its business across the international borders. This research is helpful in providing the information and detailed description about the specific research area. It helps in enhancing skills as well as knowledge of a learner. It helps in developing the knowledge base of a learner about globalisation concept. This present area of an investigation provides significant detailed regarding necessary components of globalisation with in business operations. On the other hand, this research helps in provide the theoretical framework that aids people to analysing consequences of globalisation along with its influence on business operations at the global level. 1.4 Research Aim It is one of primary aspect of research project. In this, aim develop testable and measurable investigation that adding collection of the knowledge. The aim of this research is “To determine the impact of globalisation on overall business success.” A study on Waitrose. 1.5 Research Objectives To understand the concept of globalisation. To assess the importance of Globalisation for Waitrose. To evaluate the challenges that can be faced by Waitrose while globalise their operations. To recommended that ways related with globalisation by which company can improve their overall performance at global level. 1.6 Research Questions What is the concept of globalisation? What is the importance of globalisation for Waitrose? 2
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What are the challenges that can be faced by Waitriose while globalise their operations activities. What are the ways related with globalisation by which company can improve their overall performance at global level? CHAPTER 2: LITERATURE REVIEW Literature review is defined as a comprehensive summary of information which has been collected from previously performed investigation. This is basically performed to enhance knowledge with substantive finding so that researcher would be able to develop an understanding regarding the current topic and get familiar with nature of research. 2.1 Concept of Globalisation As per the view point of Beverly Bird and Carol Kopp, 2017, Globalisation is refers to the process of spreading product, information, technology and job across national culture and boarder. In term of economic benefit, it describe independence of countries throughout the globe by getting integrated with one another and fostering free trade. This in turn help several companies to expand their business by approaching customers throughout several geographical regionwithoutanykindofbarriersrelatedwithnationalboundaries.Apartfromthis globalisation has also enhanced the way in which operations performed by a business(Bekaert and et.al., 2016). This is because access to international market has also allowed companies to access the technology, cultural practices, infrastructure, employees skills and talentwhich in turn supported several organisations in enhancing their business practices. Apart from that, these features also supported itcompanies to bring innovation in their practices and provide more effective services to customers. As a result of which competition within the industry also get enhanced as number of players get connected with one another by getting established over global level. According to the view point of John Williamson, 2019, Globalisation is consider as a manifested in the growth of world trade as a proportion of output. It has contribute up to a great extend in integrating economies of several country which in turn increases the explosion of Foreign direct investment. Hence, it can be said that globalisation is a kind of evolution which is systematically restructuring interactive phase among different countries by removing the barriers in the areas like commerce, culture, communication and several other fields. It is also considered 3
as a reason of progression through which humanities, believe and local market have get connected with the help of expansion in communicational network or trade globally. This aspect of globalisation is usually applied by the organisations in order to have access of capital, human and other resources. 2.2 Importance of globalisation for Waitrose As per the view point of (Alejandra Gonzalez-Perez, 2013) globalisation plays a crucial role within the growth as well as development of an economy as it promote trade by provide an opportunity of expansion over cross-border. Because of this, several organisations become able to operate their business at international level. Being a giant retailer, Waitrose is become widely concern about fulfilling the need and expectation of customers effectively by providing them high quality services in order to remain sustain within market for longer period of time. It is one of the most successful retailer which operates its business at global level and achieve several benefits that support it in acheiove competitive advantage at marketplace. Following are the major benefits that Waitrose get after its expansion in global market:- Diversification:-The main benefit of globalisation to a business is that it get an opportunity to diversify the operations by getting an access to international market. By getting enter into globalised business Waitrose become able to enhance its level of sale as well as profitability as it get an internation platform to introduce its unique and high quality services that help in getting brand recognition at global level(Hawkey, 2015). Access to talent:-This one is another importance that globalisation has provided to Waitrose as by entering into new market or country it would be able to get labour at relatively lower cost. Under this global labours provide effective benefits to labour such as diverse educational background, enhancing productivity, advance language skills and many other. In addition to this it also provide fresh and new talent fro strengthening the capability of workforce. Competitiveadvantage:-Waitrosewidelyfocusesonaligningtheeffortsofits employees toward the fulfilment of need as well as expectation of its customers, so that it would be able to maintain its position within the marketplace. For this Waitrose focuses toward entering into market in which their rivals are not present for becoming a first mover. This help them in creating a strong brand recognition among customers. This in 4
turn help Waitrose in expanding its business in international market by achieving competitive advantage. Increase market share: It is also an advantage of globalisation which attained by the company by offering quality products and services to its customers. This will increase profitability level of the company and at the same time also raise its market share at global market. Free movement of goods and services: Globalisation is consider as a important that help in increasing trade among various countries. With the assistance of this, company can easily trade their services in different countries. It may aid in creating positive relation with various nations and inviting new global customers towards its services. 2.3 Challenges that can be faced by Waitrose while globalise their operations activities According to the views of (Apăvăloaie,2014)it has been identified that globalisation is the process in which organisation sell their products and services at worldwide level. It results in increasing customers of Waitrose as well as profit level by enhancement in sales. Along with this, it has some challenges which will faced by company by doing business at global level. Explanation of these are as follows :- Ethical Business Practices -Arguably the most substantial of the challenges faced by Waitrose, ethical business practices in areas such as labor, product safety, environmental stewardship, corruption, and regulatory compliance have historically played a dramatic role in the success or failure of global players. In some nations, particularly those without a strong rule of law, bribing public officials (e.g., paying them off with gifts or money) is relatively common by those seeking favorable business terms(Stark, 2017). Although national and international laws exist to crack down on bribery and corruption, some businesspeople and organizationsare pressured to go along with locally accepted practices. Maintaining the highest ethical standards while operating in any nation is an important consideration for all organisations. Organizational Structure -Another significant hurdle is the ability to efficiently and effectively incorporate new regions within the value chain and corporate structure. International expansion requires enormous capital investments in many cases, along with the development of a specific strategic business unit (SBU) in order to manage these 5
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accounts and operations. Finding a way to capture value despite this fixed organizational investment is an important initiative for global corporations. PublicRelations-Publicimageandbrandingarecriticalcomponentsofmost businesses. Building this public relations potential in a new geographic region is an enormous challenge, both in effectively localizing the message and in the capital expenditures necessary to create momentum. Leadership -It can be difficult for businesses to find effective organizational leadership with the appropriate knowledge and skills to approach a given geographic market successfully. For every geography worldwide, unique sets of strategies and approaches apply to language, culture, business networks, management style, and so forth. Attracting talented managers with high intercultural competence is a critical step in developing an effective global strategy. Legal and Regulatory Structure -Every nation has unique laws and regulations governing business. Waitrose need access to legal expertise to help them understand in- country laws and comply with applicable regulations(Weldes, 2015). It is important for businesses to understand the legal and regulatory climate for their industry and type of organization before entering a new market, so that this information can be factored into the business case and strategic decisions about where and how to expand globally, as well as strategic and operational planning to ensure profitability. Above mention are some challenges faced y organisation while doing business at global level because everything don’t have only positive factors it have some negative also. Thus, Waitrose have to consider all these factors and make plan in advance to protect themselves from any type of future as well as present risk. 2.4 Ways related with globalisation by which company can improve their overall performance at global level For an organisation it is important to improve their performance at global so they can gain numerous of customers as well as profit maximisation also by improving sales. By providing better quality products to customers which can make them satisfy and fulfil their needs or demands. Because sometimes satisfy as well as loyal customer become mouth publisher of company. There are six step which help Waitrose in improving their performance at global level. These are as follows :- 6
Employees engagement Leverage high impact leadership practices Identify as well as remove internal Roadblocks Align Metrics Use training and development strategically Focus on business strategy 7
CHAPTER 3: RESEARCH METHODOLOGY Research methodology is consider as most crucial part of an investigation in which there is a detail description about number of tools as well as techniques which are used to execute investigation effectively(Zürnand De Wilde, 2016). This help in guiding researcher to perform investigation in a systematic manner and be able to represent as well as conclude the collected information in more effective manner. It is mainly consists of theoretical analysis of body of various methods as well as principles that are linked with the branch of idea as well as knowledge. This section of investigation is based on various application that are effective in performing the overall activities in systematic and right direction. Illustration1: Research Onion Type of research:-The research work is based on some issues and major duty of an investigator is to identify the cause behind particular problem or issue and present it with accurate data as well as information. In order to present information more effectively it is very essential to select and appropriate type of research (Carneiro and Brenes, 2014). There are basically two type of research i.e. qualitative and quantitative. The qualitative investigation 8
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focuses toward collecting information in detailed manner to represent the information in theoretical manner with proper facts and evidence. On the other side quantitative research mainly emphasize over gathering information over statistical data. In this investigation qualitative research method will be used to present information in detailed manner. Research Approach:-This is consider as one of the most essential elements of research methodology which represent approach that is used to perform research (Bailey andet al., 2018). Approaches are of two type inductive as well as deductive. In inductive approach, data is accumulated with the execution of an effective observation over existing facts as well as figure that are related with project. On the other side, deductive approach is work toward forming up new or innovative theories that are formulated with the help of hypothesis. In current research inductive approach has been used by researcher as the whole investigation is based on qualitative aspects. Research philosophy:-This is consider as most essential part of investigation which support in directing the research in right direction. Research philosophy is basically are of two type such as positivism and interpretivism. In current report, interpretivism philosophy will be used which help in providing qualitative report with the help of which researcher would be able to analyse data at different level in more effective manner. Data collection tools:-This section is consider as an fundamental aspect of research project as each activity used in investigation are based on data as well as information that are accumulated by researcher (Baud and Durand, 2012). In order to carry out research work usually two type of data collection tools are used, named as primary and secondary data collection method. Primary data collection refers to the process of gathering information which is fresh as well as new and not yet been investigated by another person. On the other side, secondary data collection is refers to theprocess of gathering information from previously published sources such as books, journals, article etc. In order to conduct this investigation in effective manner both primary as well, as secondary data collection methods used where primary information is gathered with the help of questionnaire and secondary information is collected through literature review. Data Sampling:-This is consider as a technique of sampling which emphasizes over choosing the sample which represent as a wholesome of original population. Data sampling methodsareoftwotypesuchasprobabilisticandnon-probabilistictools.Incurrent 9
investigation, researcher will use probabilistic sampling technique and for this investigator is required to adopt appropriate sample of population (Belás and et. al., 2014). For conducting this investigation effectively sample of 40 respondents will be selected out of overall population. Ethical consideration:-Problem and issues are usually unpredictable in nature which researcher may also face at the time of its investigation and in order to get safer from this side researcher must stay with some backup plan to resolve them. The investigator plays an essential role within each activity which it take to gather more reliable and appropriate data with the help of various sources. In such situation researcher must ensure the sources it access must be authenticate and provide accurate information without any kind of manipulation. In addition to this the potential obligation of researcher is tokeep the personal information of respondents confidential. Create a research design as well as blue print of investigation in order to apply all the activities in right directions. In addition to this research must ensure that no personal question would be asked to researcher which may harm or hurt them in any manner (Beynon-Davies, 2013). Apart from this researcher should also consider cost as well as time as their key aspect as these factors are also required to manage in respect to completion of investigation work in appropriate manner. 10
CHAPTER 4: DATA ANALYSIS Data analysis refers to procedure of applying the logical and statistical techniques systematically to explain and recap, illustrate and also evaluate the data. Under this, researcher collect data from the different sources and then analyse them by using the thematic analysis techniques. The researcher collect data by using questionnaire that helps in provide the accurate and relevant data by specific research area. QUESTIONNAIRE Name: Age: Gender: Contact No: Address: Q1) Are you aware about concept of globalisation? a) Yes b) No Q2) Is globalisation helps company to gain the competitive benefits? a) Agree b) Disagree Q3) Does execution of globalisation better for the retail sector? a) Yes b) No Q4) What are the benefits company can get by conducting business at global level? a) Target new market b) Identify current market trends of foreign country c) Contribute towards economy Q5) In what manner, globalisation impact on the business operations of Waitrose firm? a) Positive b) Negative Q6) What are the main factors which impact company to internationalized business operation? 11
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a) Economic environment b) Technology c) Competitor efficiency Q7) What are the different challenges can be faced by Waitriose while globalise their operations activities? a) Organizational Structure b) Legal and Regulatory Structure c) Different culture Q8) What are the different strategies through which Waitrose can enter in international markets? a) Joint venture b) Strategic Alliance c) Merger and Acquisition Q9) What are various ways related with globalisation by which company can improve their overall performance at global level? a) Adopt advance technology b) Better communication c) Manage funds Q10) What is current need of Waitrose to maintain its operations at the global level? a) Advancement in Technology b) Skilled Workforce c) Training Q11) Recommend some ways to overcome from globalisation challenges. DATA SHEET Q1) Are you aware about concept of globalisation?Frequency a) Yes25 b) No5 Q2) Is globalisation helps company to gain the competitive benefits?Frequency a) Agree27 12
b) Disagree3 Q3) Does execution of globalisation better for the retail sector?Frequency a) Yes22 b) No8 Q4) What are the benefits company can get by conducting business at global level? Frequency a) Target new market10 b) Identify current market trends of foreign country12 c) Contribute towards economy8 Q5) In what manner, globalisation impact on the business operations of Waitrose firm? Frequency a) Positive20 b) Negative10 Q6)Whatarethemainfactorswhichimpactcompanyto internationalized business operation? Frequency a) Economic environment8 b) Technology16 c) Competitor efficiency6 Q7) What are the different challenges can be faced by Waitrose while globalise their operations activities? Frequency a) Organizational Structure2 b) Legal and Regulatory Structure12 c) Different culture16 Q8) What are the different strategies through which Waitrose can enter in international markets? Frequency a) Joint venture13 13
b) Strategic Alliance10 c) Merger and Acquisition7 Q9) What are various ways related with globalisation by which company can improve their overall performance at global level? Frequency a) Adopt advance technology17 b) Better communication10 c) Manage funds3 Q10) What is current need of Waitrose to maintain its operations at the global level? Frequency a) Advancement in Technology16 b) Skilled Workforce4 c) Training10 THEME 1: Are you aware about concept of globalisation Q1)Areyouawareaboutconceptof globalisation? Frequency a) Yes25 b) No5 14
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Interpretation -After going through the above graphical presentation it has been analysed that, most of the people are aware with theconcept of globalisation. Because out of 30 respondents 25 are in the favour of awareness with the concept of globalisation. On the other hand, 5 are not in the favour of this because they are not aware with the concept of globalisation. THEME 2: Globalisation helps company to gain the competitive benefits Q2) Is globalisation helps company to gain the competitive benefits? Frequency a) Agree27 15 a) Yesb) No 0 5 10 15 20 25 30 25 5 Column B
b) Disagree3 Interpretation –From the above given graphical presentation it has been analysed that globalisation is the concept which help organisation in gaining competitive benefits. There are several people who are in the favour of this, that globalisation is beneficial for Waitrose as well as out of 30 people 27 are in the favour of this. Whereas, remaining 3 are not in the favour that globalisation is good for respective company. THEME 3: Execution of globalisation better for the retail sector Q3) Does execution of globalisation better for the retail sector? Frequency a) Yes22 16 a) Agreeb) Disagree 0 5 10 15 20 25 3027 3 Column B
b) No8 Interpretation –After going through the graphical presentation it has been analysed that execution of globalisation is better for retail sector organisation because it result in increasing number of customers as well as profit ratio also. Out of 30 respondents 22 are in the favour that execution of globalisation is better for retail sector. On the other hand, remaining 8 are saying that no it is not beneficial for respective sector. THEME 4: Benefits company can get by conducting business at global level Q4) What are the benefits company can get by conducting business at global level? Frequency a) Target new market10 b) Identify current market trends of foreign12 17 a) Yesb) No 0 5 10 15 20 2522 8 Column B
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country c) Contribute towards economy8 Interpretation –From the above mention graphical presentation it has been analysed that, there are several benefits which gained by organisation while conducting business at global level such as target new customers, identify current market trend of foreign customers and contribute towards economy. Out of 30 respondents 12 are in the favour of identify current market trends of foreign country, whereas 10 are saying for target new market and remaining 8 are contributing towards economy. THEME 5: In what manner, globalisation impact on the business operations of Waitrose firm Q5) In what manner, globalisation impactFrequency 18 a) Target new market b) Identify current market trends of foreign country c) Contribute towards economy 0 2 4 6 8 10 12 14 10 12 8 Column B
onthebusinessoperationsofWaitrose firm? a) Positive20 b) Negative10 Interpretation -After going through the graphical presentation it has been analysed that, globalisation have both positive and negative impact on the operations of Waitrose. After taking opinions of respondents it has been analysed that, out of 30 respondents 20 are saying globalisation have positive impact of operation of organisation. Whereas, remaining 10 are not in the favour of this they are saying it have negative impact. THEME 6: Main factors which impact company to internationalized business operation Q6)Whatarethemainfactorswhich impactcompanytointernationalized business operation? Frequency a) Economic environment8 b) Technology16 c) Competitor efficiency6 19 a) Positiveb) Negative 0 5 10 15 20 25 20 10Column B
Interpretation –From the above mention graphical presentation it has been identified that there are several major factors which have impact company to internationalized business operations such as economic environment, technology and competitor efficiency. Out of 30 respondents 16 are in the favour of technology, 8 are in economic development, whereas, remaining 6 are saying that competitor efficiency is the major business factor impact on organisation internationalized business operations. THEME 7: Different challenges can be faced by Waitrose while globalise their operations activities Q7) What are the different challenges can be faced by Waitrose while globalise their operations activities? Frequency a) Organizational Structure2 b) Legal and Regulatory Structure12 c) Different culture16 20 0 4 8 12 16 8 16 6 Column B
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Interpretation –After going through the above graphical presentation it has been identified that, there are several challenges which can be faced by Waitrose while globalise their operation activities such as organisational structure, legal and regulatory structure as well as different culture.Out of 30 respondents 12 are saying that major challenge company will faced is legal and regulatory structure. Along with this out of remaining, 16 are in the favour of different culture and remaining 2 are for organisational structure. THEME 8: Different strategies through which Waitrose can enter in international markets Q8)Whatarethedifferentstrategies throughwhichWaitrosecanenterin international markets? Frequency a) Joint venture13 b) Strategic Alliance10 c) Merger and Acquisition7 21 a) Organizational Structure b) Legal and Regulatory Structure c) Different culture 0 2 4 6 8 10 12 14 16 18 2 12 16 Column B
Interpretation –After going through above graphical presentation it has been analysed that there are several ways through which company can enter into international market such as joint venture, strategic alliance, merger and acquisition. For Waitrose joint venture is more suitable it has been analysed by the answer of 30 respondents because 13 are in the favour of it. 10 are saying strategic alliance is suitable way of entering in global market and then remaining 7 are in favour of merger and acquisition. THEME 9: Various ways related with globalisation by which company can improve their overall performance at global level Q9) What are various ways related with globalisationbywhichcompanycan improve their overall performance at global level? Frequency a) Adopt advance technology17 b) Better communication10 c) Manage funds3 22 a) Joint venture b) Strategic Alliance c) Merger and Acquisition 0 2 4 6 8 10 12 1413 10 7 Column B
Interpretation –After going through the above mention graphical presentation it has been analysedthatthereareseveralwaysthroughwhichcompanycanenhancetheiroverall performance at global level such as adopt advance technology, better communication and manage funds. Out of 30 respondents 17 are in the favour of adopt advance technology and 10 are in favour of better communication as well as remaining 3 are saying funds are they way through which company can improve their performance at global level. THEME 10: Current need of Waitrose to maintain its operations at the global level Q10) What is current need of Waitrose to maintain its operations at the global level? Frequency a) Advancement in Technology16 b) Skilled Workforce4 c) Training10 23 a) Adopt advance technology b) Better communication c) Manage funds 0 2 4 6 8 10 12 14 16 1817 10 3 Column B
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24 a) Advancement in Technology b) Skilled Workforce c) Training 0 2 4 6 8 10 12 14 16 1816 4 10 Column B
Interpretation –From the above graphical presentation it has been analysed that, there is some current need of Waitrose for maintaining its operations at global level such as advancement in technology, skilled workforce and training. Out of 30 respondents 16 are in the favour of advancement in technology whereas, 10 are saying that training is needed for Waitrose to maintain its operations at global level. Thus, remaining 4 are saying that skilled workforce is required for maintaining operations at global level. Reflection This research is focus on evaluating thatglobalisation can drive business success in which researcher is responsible for gathering relevant data and information towards the research activities in order to take a valid decision. As a researcher, I prepared questionnaire that support me in understanding views and opinion of selected respondents towards the research topic. For undertaking this research, I have used both primary and secondary methods through which I can easily prepare a systematic research project. Along with this, I also faced various issues related with time and cost at the time of executing research which may negatively impact on the overall outcomes of the study. For overcoming these issues, I prepared a plan that consist entire activities present in the research objectives. By this, I can easily complete the whole project and attain positive and reliable outcomes. This will contribute in making entire research more successful and accurate as well. Alternative methodologies For gathering valid and accurate information towards the topic, questionnaire is consider as an effective method used by researcher to understand respondents views and opinion. Mainly, it is suitable and important way to collect data in order to improve the chances of attaining accurate and valid conclusion at the end of the research. In this context, interview is consider as an appropriate alternative method which can be applied by investigator to gather information. AS it provide in-depth information related with respondents views points. With the assistance of this, investigator can easily attain reliable outcomes and make whole research more successful. 25
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