Managing a Successful Business Project - Hennes & Mauritz Assignment

Managing A
Successful Business

INTRODUCTION
Globalisation is referring to a procedure through which company is providing its products
services to all around the globe (Ahmed, Jimenez and Martínez, 2013). This will help company
to increase its sales and enhancing overall profitability of organisation. Globalisation a
movement of people, goods, services across the geographical boundaries in order to grow
business and its market share. This report is based of Hennes & Mauritz company. This
organisation was founded by Erling Persson in 1947 and it is providing its services all around the
world. It is a Swedish multinational company which is dealing in clothing retail industry. This
company is planning to launch its new product in Landon Fashion Week which is going to
happen in 16th - 20th November 2019. This report cover aims and objective to conduct research as
well as project management plan and research methodology. It also covers data analyses and
recommendation are provided on the bases of research.
TASK 1
P1
Background of Project: Hennes & Mauritz AB is a multinational Swedish company
which is dealing in fashions retail industry. This company is producing different fashionable
products from both men and women. It is one of the worlds largest company which is providing
its clothing products all around the globe. Hennes & Mauritz company was established in 1947
and it was founded by Erling Persson. Headquarter of this company is located in Stockholm,
Sweden and it is providing it services worldwide. This company is located in approx 62 countries
with more them four thousand stores. Hennes & Mauritz is planning to introduce it new sports
shoes product in London Fashion Week. Manager of H&M needs to carefully analyse the market
area as well as requirement of customers in order to provide new and creative products to
customers. London fashion week taking place on the 16th to 20th November 2019 so company
have hired a researcher to evaluate needs and wants of customers (Crane and Matten, 2016). For
this, investigator needs to develop various strategies and formulate specific aims and objective
for conducting effective and efficient research. Research aim and objective in mention below.
Research aim: To determine the significance of new product development for business
in enhancing its profitability. A Study on H&M
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Research Objectives
 To analyse the concept of new product development.
 To identify the different ways through which H&M can launch their product in market.
 To determine the relationship between new product development and business growth.
Research Questions
 What is the concept of developing new product?
 What are the different ways through which H&M can launch their product in market?
 What is the relationship between development of new product and business growth?
P2
Project management plan can be defining as a proper planning in order to implement and
effective and efficient project for organisation. This includes a documentation that help in
developing comprehensive baselines for achieving set goals and objective (DenVan and De Jong
2010). This is very essential to develop an effective plan after determine various factors so that
project can smoothly run and reach to set goals. Project management plan is a framework that
includes various strategies and step to complete project work. It is very important to carefully
analyse various factors which affect project management plan such as cost involved, time
required, quality, risk, communication as well as scope.
 Cost: This is very essential factor to carry the plan into actual actions. Cost rest to
amount of money that is required to perform and effective research. This play a very
crucial role in smooth function of research plan. Researcher needs to plan a proper budget
plan to conduct research. For this research, investigator is expecting total cost that is
required to complete research is approx 60000 pounds.
 Time: It refers to the time period required to effective complete research. In order to
timely completion of research it is very important that all activities of this should start at
right time so that all task complete in required time span (Eckerson, 2010). Researcher
who is conducting this research project has evaluated that this research required approx 7
months’ time to complete this.
 Quality: This is standard for conducting research. Quality of research is very important
aspect that needs to be decides by investigator before conducting research. This will help
in differentiating it from various other researcher. Quality of research should be high in
order to represent an effective and qualitative research. By setting high quality of
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research will help investigator to set standards of research which will help them in
measuring actual research.
 Risk: This factor will leads to have huge negative effect on research. It is very important
for research to identify amount of risk involved in carrying out a research (Gebauer,
Edvardsson and Bjurko, 2010). Investigator should analyse risk in advance so that they
can develop effective strategies to deal with risk. Risk factors includes shortage of
manpower, funds or time. Researcher should be planned to deal with various risk and
complete research effectively.
 Communication: This is required for researcher to effectively interact with team
members as well as other person who are helping in conducting research. Communication
is essential part of research in order to collect data from various sources (Incelli, 2013).
Effective communication will also help in motivating team to complete required task as
well as effective flow of research process.
 Scope: Scope of research will help in analysing its effectiveness in future and market
area. In order to lunch a new product, it is significant to analyse probability of
successfulness of product in market area. By analysing its scope, it is will help
investigator to identify chances of failure and success of new launched product in market
area.
P3
Work breakdown structure
This is a structure in which is divided into various parts in order to organize team work.
Work breakdown structure can be defining as a hierarchical representation of task which needs to
be implemented by member of a project team. This is a method which help is solving complex
and multi-step projects. Work breakdown structure is in a form of tree structure that provide
outlines to project and breaking into smaller parts so that completed portion can be easily
measurable.
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Gantt chart
This is a horizontal chart that is developed for controlling invention practices of
organisation. This is basically introduced by henry L. Gantt in 1917 to analyse and evaluate work
done by production department. This can be define as a graphical tool which help in representing
activities done in certain time period (Jones and Lubinski, 2012). Gantt chart is a very popular
tool in project management and it drill down all activities which is needs to be performed in a
fixed period of time. This chart has horizontal and vertical axis where vertical axis shows task
that needs to accomplish whereas horizontal axis represent time spend for completing given task.
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TASK 2
P4
There are various ways will help in active set goals and objective of organisation.
Researchers needs to carefully evaluate and analyse these methods in order to choose correct and
appropriate methods. Qualitative and quantitative methods are mentioned below.
Qualitative research: This includes different practices of gathering as well as analysing
information which cannot be represent in numerical form (Kankaanranta and Planken, 2010).
Qualitative methods are very important for collection in depth and high quality information or
knowledge. Data collected in this type of research will provide insights about issue or problems.
Qualitative research is very helpful in collection and evaluating data in order to underlying
reasons and opinions.
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Quantitative research: This type of method is very helpful in identifying and analysing
data that can be represent in numerical data as well as this can be transfer into statistics to get
proper and accurate information. Qualitative methods helps researcher to find solution to a
problem in more effective and efficient way.
From the above two methods, most preferable methods chosen by investigator to
effectively conducted this research is qualitative method. This methods of research will help in
collecting and evaluating in depth knowledge and information which is required in this research.
Data collection
There are various methods from collecting and evaluation information and data which
help researcher in finding solution to problems (Lai and Ong, 2010). Data collection can be
divided into two categories that are primary and secondary data. These methods are mention
below in detail.
 Primary method: This is referring to information which is collected by researcher for
the first time and researcher who finds this information is consider as own of data.
Primary information is gathered though numerous ways that can be interview,
observation, questionnaire, surveys etc. In order to collect through this methods,
researcher needs to have proper knowledge and information. Collecting data from this
method is quite time consuming as well as requires huge amount of money.
 Secondary methods: This method is very help in collecting fast data as this information
are already collected in primary research (Lin and Chen, 2012). Secondary method is
comparative easy and there are various sources available to collected these data. Various
methods for collecting secondary data is internet, newspaper, government documents,
business papers, books and so on.
In order to conduct an effective research, investigator is using both primary and
secondary method. Researcher is developing questionnaire related to research topic through
primary methods. Secondary methods are also used by researcher for getting more and detailed
information about projects.
Questionnaire
Q1. Are you aware about the concept of launching a new product in the market?
 Yes
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 No
Q2. What are the common things that H&M needs to consider while introducing their new
product in market?
 Product price
 Customer’s requirement and need
 Product design and features
 All of the above
Q3. How much customers are interested in buying this new product of H&M?
 Extremely interested
 Somewhat interested
 Not at all interested
Q4. According to your views, does H&M requires to implement promotional practices in order
to introduce their new product in target market?
 Yes
 No
Q5. How H&M can promote their new product in target market?
 Online advertisement
 Offline promotional activities
 Both of the above
Q6. What are the feature of new shoes that will attract more customers towards H&M?
 Comfortable to wear
 Affordable price
 Attractive design
 All of the above
Q7. Who can be the major competitors of H&M while introducing their new range of shoes in
London fashion week?
 Marks and Spencer
 Zara
 NEXT plc
 All of the above
Q8. Do you think introducing this new product will be helping in enhancing business
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profitability of H&M?
 Yes
 No
Q9. Does new shoes launch in London fashion week will be a profitable move for H&M in
context of gain desired revenue?
Q10. Any suggestions for additional improvement in business practices of H&M?
TASK 3
P5
Theme 1: Concept of launching new product in market area.
Q1. Are you aware about the concept of launching a new product in
the market?
Frequency
 Yes 22
 No 8
Interpretation: From the above collected data it can be analyses that most of the
customers are aware about new launched product. It has be identified that 22 respondents out of
8
22
8
Yes
No

30 has agreed that they are aware of new products launched by H&M organization whereas only
8 respondents were not aware of new product.
Theme 2: Things to consider while introducing new product in market.
Q2. What are the common things that H&M needs to consider while
introducing their new product in market?
Frequency
 Product price 7
 Customer’s requirement and need 8
 Product design and features 6
 All of the above 9
Interpretation: As per the above presentation it is easy to understand that majorly of
participants feel that company should consider various factors such as product prices, needs and
wants of customers as well as design of product. It is identified that 8 and 7 respondents
9
7
8 6
9
Product price
Customer’s requirement and
need
Product design and features
All of the above

suggested that company should focus on customer's requirement and product prices respectively
where as only 6 respondents feel that product design and its features are more important.
Theme 3: Interest of customers in purchasing new product.
Q3. How much customers are interested in buying this new product
of H&M?
Frequency
 Extremely interested 11
 Somewhat interested 14
 Not at all interested 5
Interpretation: As per the above gathered information it has been analyses that majority
of consumers are interest in collecting data whereas only 5 respondents out of 30 were not much
interested in buying new lunched product. Out of 30 respondents 14 and 11 where interest and
extremely interested in new product of H&M company.
Theme 4: Need of promotional practices in introducing new product.
Q4. According to your views, does H&M requires to implement
promotional practices in order to introduce their new product in
Frequency
10
11
14
5
Extremely interested
Somewhat interested
Not at all interested

target market?
 Yes 25
 No 5
Interpretation: From the above graphical representation views of customers about needs
of introducing promotional activities can be easily identified. Out of 30 respondents 25 feel that
it is very important for H&M company to conduct promotional practices where as only 5
responded negatively. It is very important for organization to conduct various promotional
activities as it will help in informing customers about new lunched product.
Theme 5: Promotional strategies of H&M
Q5. How H&M can promote their new product in target market? Frequency
 Online advertisement 9
 Offline promotional activities 8
 Both of the above 13
11
25
5
Yes
No

Interpretation: Through the above collected data it can be analyzed that most of people
feels that both online and offline promotion is important for organization. It has been identified
that 9 and 8 respondents feel that online advertisement and offline promotional activities are
important respectively where as 13 respondents feels that both online and offline promotional
practices are equality important.
Theme 6: Features of new shoes that will attract customers
Q6. What are the feature of new shoes that will attract more
customers towards H&M?
Frequency
 Comfortable to wear 7
 Affordable price 6
 Attractive design 6
 All of the above 11
12
9
8
13
Online advertisement
Offline promotional activities
Both of the above

Interpretation: From the above graphical representation it is easy to understand needs
and requirements of customers from new launched product. Majority of respondents voted that
they product should be comfortable to wear with attractive design and it should have affordable
price. Where as 7 responded feels that comfort of products is most important and other responds
feel that price and design of products is also important.
Theme 7: Major competitors of H&M.
Q7. Who can be the major competitors of H&M while introducing
their new range of shoes in London fashion week?
Frequency
 Marks and Spencer 6
 Zara 7
 NEXT plc 5
 All of the above 12
13
7
6 6
11
Comfortable to wear
Affordable price
Attractive design
All of the above

Interpretation: According to data which is collected in research, it can be identify that
there are various strong rival companies of H&M in market area. Majority of respondents feels
that all of the above mention company are competitors of H&M. Out of 30 respondents 6, 7 and
5 feels that Marks and Spencer, Zara and NEXT plc respectively are major competitors of this
company.
Theme 8: Impact of new product in enhancing profitability of H&M.
Q8. Do you think introducing this new product will be helping in
enhancing business profitability of H&M?
Frequency
 Yes 26
 No 4
14
6
7
5
12
Marks and Spencer
Zara
NEXT plc
All of the above

Interpretation: As per above graphical representation it can be easily analyzed that
majority of respondents agree that this new launched product will have huge impact on
profitability of H&M. Out of 30 respondents, 26 has respond positively where as only 4
respondents has reacted negatively.
Theme 9: Launch of new product in London fashion week.
Q9. Does new shoes launch in London fashion week will be a profitable move for H&M in
context of gain desired revenue?
Yes, new launched product in London fashion week will be a profitable move for H&M
organisation in order to achieve desired revenues. H&M is producing new and innovative
product which is developed and design by keeping needs and requirement of customers. So it is a
very good move for H&M to lunch this product in London fashion week. This will help company
to increase its sales and enhance its revenues.
Theme 10: Suggestion for improving business practices.
15
26
4
Yes
No

Q10. Any suggestions for additional improvement in business practices of H&M?
Company should use various tools and techniques to promote its products such as digital
marketing, social media marketing, creative advertisement and so on. Company should develop
its product as per needs and wants of customers and their product should be able to full fill
requirement of customers.
P6
From the above research report conducted on new shoe product of H&M, researches have
suggested some recommendation which will help company to gain larger market share as well as
enhancing profitability of organization.
 Company should properly analyses and evaluate needs and wants of customers before
developing product and company should manufacture product which is according to
needs and wants of customers.
 There are various marketing and promotional techniques that will help company to gain
competitive advantages over its rival companies.
TASK 4
P7
While conducting the research, I have faced many issue and problems. In order to
conducted an effective research sufficient time was not providing and there was shortage of
financial budgets also. Apart from these issues I have face problem of less manpower for
conducting this report. These issue has affected efficient and efficiency of project.
CONCLUSION
As per the above report it has been summarized that successful launch of products require
lots of time and other resources. It is very important for an organization to develop a proper and
effective research plan in respect of successful introduce of new services in marketplace area.
Company should identify and analyses needs and wants of customers before actual development
of products. This will help in manufacture product which will help in satisfying requirement of
customers.
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APPENDIX
Appendix 1 Log Book
Project Logbook for the chosen
organisation:
Name of the learner: Name of the Supervisor:
Project Title: “To evaluate role of globalisation
in product development?”
Date: 19 JULY 2019
Update of weekly research/ tasks achieved
(Account for a minimum of six weeks with
dates)
 What have you completed?
 Did you fulfil Task requirements?
 Are you on track and within deadlines
set?
 Did you need to make any changes to
your project management plan?
Comments
I have accomplished this study on ‘To
determine significance of new product
development for business in
enhancing its profitability. A Study on
H&M’
YES
Yes
NO
Any risks and / or issues identified?
 Did you identify risks/issues with a
lack of skills required for
undertaking research tasks?
 Did you identify any additional
risks/issues that have an impact on
the project management plan?
Yes, several problems have been
faced when conducting this
research as funds and time.
No
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Problems encountered
 What barriers did you face?
 How did you overcome them?
The issue that I face is time as
well as funds management.
To reduce this, I needs to
manage reserve properly so that I
can get funds on timely basis.
New Ideas and change of project direction
As per my views the company shall
introduce innovative products in
order to capture good market
share.
What Have I learnt about myself this week?
 How did I feel when I had to deal
with tasks/problems?
 Did I find it useful to complete the
tasks?
 How well have I performed? What did
I contribute?
 What can I improve on next week?
 How might this learning apply in the
future?
When conducting research, I
was highly motivated so that the
target goals can be
accomplished.
Yes
I did my task with my full
potential.
I can improve my time
management capabilities for
effective project practices.
The learning that I enhance
from this research is to
accomplish quality of work so
that positive outcome can be
carried out.
Tasks planned for next week
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 Which tasks are priority? Have you set aside sufficient time for
completion?
Major preferences of this
research to accomplish
requirement of task properly.
Yes
Project plan status to date (on, ahead,
behind)
Supervisor comments to address
Signature of the Supervisor and date:
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