Managing a Successful Business Project - Data Analysis and Findings

This presentation provides an interpretation of data analysis and findings on various aspects of managing a successful business project. It covers the impact of globalization on business, the significance of globalization for H&M, the need for market research before launching new summer shoes, challenges faced by H&M in London Fashion Week, the importance of an effective marketing plan, and ways to reduce the costs of new summer shoes. References are also provided.

MANAGING A
SUCCESSFUL BUSINESS
PROJECT

Data analysis and findings
Do you think that globalisation impact on business?
Yes 20
No 10
Interpretation- Globalisation leads to raise competition in market, this
type of competition is related to target market, service and products
cost, quick response, technological adaptation and fast production by
organizations. 20 participants think that globalisation put positive
impact on business and helps to raise their position and build good
reputation within marketplace as compare to other brands. They think
that it helps to grow business and make it successful as better than
before. Companies with the help of globalisation provide large
multitude of choices in market and able to generate revenue. If
company produce new product with less cost and sells cheaper it is
capable to raise their market share. But on the other side 10 people feel
that globalisation does not put any positive impact on business and as
well as financial performance. With the help of effective and skilled
people firms can be able to expand their business and open the new
ones in another country. They think that globalisation does not any
impact on financial and other performance of business.

Do you feel that globalisation is significant for H&M?
Yes 15
No 15
Interpretation- Globalisation provide many benefits to H&M as permit
entering into international market and enlarge their business effectively. 15
peoples think that globalisation is important for business or for H&M
company as it helps to enter into another nation. With the help of
globalisation organization can be able to launch their new summer shoe
collection within London Fashion week and garb the attention of customers. It
is essential procedure that contribute for interchange of products, other
aspects of culture and ideas effectively. Globalisation is the procedure of
integration and international arising from interchange of world thoughts.
Organization with the help of business expansion sell their different types of
products to other nation smoothly as it is beneficial for them. But on the other
side 15 people feel that globalisation is not important for H&M as well as its
financial performance because it brings many challenges which put negative
impact on overall business functions and activities as well as their new
product launch plan. Globalisation is bad for company and have negative side
effects on profit margin and current market position.

Do you think that H&M need to conduct market research before launching their
new summer shoes in London fashion week event?
Yes 20
No 10
Interpretation- Market research is one of the most essential activity or action
of gathering data or information about customers preferences and needs.
Surveys, observation, interview and focus on particular groups of people are the
different types of market research methods which will used by companies as
before manufacturing new product and to gather more information about their
consumers. MR is the effective and useful tool that help business to make plans,
it is all about collecting data that provide the insight into their clients buying,
thinking, location and patterns. It also supports to monitor market current trends
and keep eye on what business competitors is doing. 20 people think that H&M
marketing manager must conduct market research before making any plan based
on new summer shoe launch in London fashion week on 16th to 20th November
2019. With the help of this tool they can be able to collect information about
people likes and identify economic culture and religious. But on the other hand
10 participants feel that market research is not suitable and required to conduct
before entering into international market because it consumer a lot of time and
need more investment.

What challenges will faced by H&M as they launch new summer shoe in fashion
week in London?
Customer different perspective 10
Trade policies 8
Technology advancement 12
Interpretation- 10 people think that H&M faced challenges due
to different perspective of customer which make barriers in
procedure of new summer shoe launch at London fashion week.
On the hand 8 participant define that due to high charges in trade
policy or taxation company face challenge. But 12 peoples feel
that due to technological advancement organization face issues
or barriers in new product launch.

Do you think Hennes&Mauritz create effective marketing plan before new
product launch?
Yes 10
No 20
Interpretation- marketing plan provide benefits to H&M as they can
be able to focus on plan and resources which help in growth of
business. 10 participants think that company must make effective
marketing plan before new product launch which drives peoples
towards them. But 20 respondents analyse that before launch new
summer shoe collection in London Fashion week it is not useful that
company create marketing plan it affects on their financial budget.

Do you think that marketing is essential for H&M as to enter into international
market?
Yes 22
No 8
Interpretation- Marketing is the main part of business and management of
exchange relationships and build trust. It is the procedure of satisfying consumers
and creating good relation with people. Marketing is one of the prime elements of
business management in which many people perform effectively and make the
great marketing plan for H&M as to promote their new summer shoe in
marketplace. 22 people think that company marketing manager and its team
members must create the great marketing plan and effective promotional
strategies that helps to drive consumers towards purchasing new goods and also
support to increase their interest. According to them marketing and promotion is
important as when organization wish to enter into other country. But on the other
side only 8 peoples feel that marketing is not essential as they think that it
consumer a lot of time and required funds than before

What are the ways to reduce the costs of new summer shoe?
Discount offers 10
Used modern technologies 20
Interpretation- The main purpose of reducing costs of particular product is to
increase profitability. But only if sales cost and amount of sales remain same.
With the help of cutting production costs company can be able to reduce prices of
goods as they enter into international market. Cost reduction is one of the best
procedure that helps business to grab the attention of new consumers and also
support to retain existing ones for so long. 10 people think that discount offer on
new summer shoe is appropriate plan or way to reduce price of goods. It is
beneficial for H&M as able to attract new and repeat clients again and again. With
the help of this offer they can be capable to increase their sales across board area
within business and also able to beat their existing competitors in London Fashion
week. It contributes to boost up their reputation and market position as well as
generate revenues than before. But on the other hand 20 peoples think that use of
advanced technologies is best more other ways of reducing costs. If company used
advanced technologies they can be able to reduce costs of production procedure
which allow them to sell new summer shoe within market.

REFERENCES
■ Vanhaverbeke, W., Chesbrough, H. and West, J., 2014. Surfing the new wave of open innovation research. New frontiers in
open innovation. 281. pp.287-288.
■ d'Avolio, E., Bandinelli, R. and Rinaldi, R., 2015. Improving new product development in the fashion industry through
product lifecycle management: a descriptive analysis. International Journal of Fashion Design, Technology and Education.
8(2). pp.108-121.
■ Boermans, M.A. and Roelfsema, H., 2015. The effects of internationalization on innovation: Firm-level evidence for
transition economies. Open Economies Review. 26(2). pp.333-350.

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