Managing a Successful Business Plan Assignment
Added on 2020-12-18
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Managing a successfulBusiness plan
Table of ContentsINTRODUCTION...........................................................................................................................3CONCLUSION..............................................................................................................................20REFERENCES .............................................................................................................................22
INTRODUCTIONGlobalization is the movement of ideas, people and goods and a phenomenon that isdriven through technology. It is the process by which the international exchange of goods,services, capital, technology an knowledge becomes increasingly interconnected. Managementconsists of the interlocking functions of creating corporate policy and organising, planning,controlling and directing organisational resources such as financial, natural, technological andhuman resource. Managing a successful business project it is important to obtain desiredoutcome from the project. This assignment is based on John Lewis, it is an employed owned UKcompany which operates John Lewis & Partners department stores. It was founded in 1864 byJohn Spedan Lewis and this company produce various products such as clothing,watches &jewellery, gift-wares, cosmetics, housewares, furnitures and others. In this assignment explainedabout the aims, plans and various concepts such as time scale and various types of research thatlike qualitative and quantitative. Data interpretation are also maintained in the assignment tocarry out the decision for expand the business at global level.Positive impact of Globalization to the businesses in the UK Globalization is a force that shapes the contemporary world and create impact onbusiness, environment and society. It is an ongoing process that is linking people, cities, religionsand countries more closely together than they have ever before. It create positive impact to thebusiness of UK (Basu, 2014). Economic Impact- Globalization involves the increased integration and interdependence of theglobal economy. It create positive impact on the business of UK and the benefits include greatercompetition, lower prices and economies of scale. There are various economic factor that createpositive effect on the business of John Lewis, they are as following, Increased trade- Globalization provide opportunities to the companies to operate theirbusinesses in various countries for example, UK has a comparative advantage in good such asfinancial services. Cause of globalization Lewis also operate its business internationally andincreased its sales and trade by providing better quality products according their consumersneeds.Increased competition- Globalisation leads to increased competition in businesses. InLewis, this competition can be related to the product and services, cost or price, target markets,technological and others (Binder, 2016). It is beneficial for the Lewis because it provide good3
quality product on relevant price that can be easily pay by the customers. Now these customersare ready to pay for good quality that affect the economic condition of this organisationpositively. Tax avoidance- Globalisation has enabled firms to shift production from high taxcountries to low tax countries. For example, Lewis have taken advantage of low tax rates incountries of Bermuda, Luxembourg and Ireland. Tax avoidance create positive impact becausesome countries have low tax rate and company pay less amount for that which create positiveimpact on the organisation economy as well as the UK(Bloch, Blumberg and Laartz, 2012).Culture Impact- Culture basically refers to characteristics of attitudes, values, beliefsand behaviours shared by members of a society or population. It refers to the life and work ofpersons, families and societies. Globalisation create positive cultural impact on Lewis, forexample, if this company provide products according consumers needs such as in Pakistanpeople prefer full, long and body covered dresses according their culture and the people alsoprefer heavy jewellery. By providing that kind of costumes and accessories to them it can fulfiltheir demands and create positive impact in the organisation and country's economy. In Britishcountries people like formal, short and trading clothes and light or fashionable accessories orcompany can fulfil their need according them. Ethical Impact- In globalization, companies expand its business one country to anotherand for operating business one country to another, the government of that country designed somerules and regulations that are necessary to follow by every companies if they do their businessglobally. For example, Lewis operate its business internationally in a legal way by following allrules and legislations of the UK government. It is a positive impact on the business of thecompany because no one creates illegal barriers for it such as file case and others. It helps thecompany to attract customers for their business in various countries and increase sales and profitsthat is a positive impact on the company and country's economy (Brady and Davies, 2014).Background of the researchAbout companyJohn Lewis is a chain of high end department stores and a UK based company thatoperate its business internationally. It was founded in 1864 with the opening of the first shop inLondon's Oxford Street. This company offer home and garden products, clothes, accessories,cooking and dinning products, cleaning and storage products and various others. It operates its4
business in 25 European countries and various other countries. But for achieving more successesthe organisation decided to expand its business operation across different nations so that it canenhance business at globally and for this it require support from different depart of the company,they are as following:Operation- The company connect this department with all other departments of theorganisation so that it can have proper knowledge about all functions that are important to runbusiness. In John Lewis, globalization create positive impact in various ways such as thiscompany operate its business in various countries and for identifying different customer’s needs,it organises research & development program (Cheung, Chan and Kajewski, 2012). With thisprocess, the company find out the level of production and reduce the wastage and unnecessarycost also. Human Resource- Lewis operate its business internationally and in those countrieswhere it opened its stores, it hires local employees so that they can communicate easily with thepeople of that country. By using this strategy, the company can increase its sales because theemployees can understand clearly about the products and services to the customers. Marketing- Globalization effect the business of John Lewis positively by providing awide area for operating its business. It creates positive impact through transfer of technology,providing resources in different countries. By doing market research the company identifyconsumers need and provide products according them which increase the sales and profit of theorganisation. Accounting- When Lewis operate its business internationally, there are lot of paper workand translations and it is hard to maintain all translations. Globalization provide varioustechniques and technologies so that company can maintain their data online and it create positiveimpact on company because with this they will not lost their data and can have proper and clearrecord (Cusworth and Franks, 2013). Aims of the ProjectThe aim of the research project is to identify the positive economic, cultural and ethicalimpacts of globalisation. To monitor this impact on different business functions within an oragnisation. ObjectivesTo understand the basic concept of globalization. 5
To determine the impact of globalization on different business functions of anorganisation.To examine the factors affecting the business while operating at global level.Research planProject TitleTo analyse the positive economic, cultural and ethicalimpacts of globalization on different business functionswithin an organisation- A case study on John Lewis.Project PlanCompany Name:John LewisCostIt is an essential and important factor to operate anybusiness and it is the monetary value spent by a companyto produce something (Du, Leten and Vanhaverbeke,2014). When John Lewis operate its business at globallevel, it allocated cost in various business functions such asemployees cost, production cost and various others.Because when it will do international business it conductsvarious research and other program to identifying theconsumers need and fulfil that demands it will provideproducts to the customers. In all these processes the projectdepartment of the company has make budget approx 50lacks pounds. Therefore, from the researcher point of viewthere will be need of 35000 pounds to conduct research forproject plan effectively. For example, this fund will usedby the management of the company in various kind ofactivities like, 10000 can be used for gathering data byusing different sources of data collection. To collectinformation by questionnaire, they required 10000 becausefor they travel different place. Remaining cost will used forother activities like selecting techniques for research, data6
interpretation and several others. ScopeIt is basically related with the market when any companyoperate its business in new market and manufacture anynew product in the market. For example, In Lewis, whencompany launch any new product of gym garments, itfirstly launched it in British market because the people ofhere are health conscious and there is wide scope for thesales of this product (Duffield and Whitty, 2015). Itincreases the sales of the company that create positiveeconomic, cultural and ethical impact on the globalisationon different functions of John Lewis. In order to evaluatethis aspects John Lewis should do analysis of differentfactors such as cultural, political and ethical so that theyaffect the business when the company launching its projectplan at global level. While the researcher will help in widenthe scope level by improving and enhancing the skills orknowledge in order to various techniques and tools thatwill be used in carrying out the research in an appropriatemanner towards the project plan (Gustafson, 2012).TimeTime is and measurable period during which an actionprocess and a period in which any action start and workoccurred. If any company have sufficient time to designand manufacture and product at time in competitive marketthan it can gain competitive advantages from the market. InLewis, company will be required 6 months time when itwant to launch or manufacture any product and service thatcreate positive economic, cultural and ethical impacts ofglobalization on different business functions. On the otherhand the researcher can required approx 7 weeks forcollecting data and conducting research for that projectplan.7
QualityIt is basically related to the raw material that anycompany used in its products and operate itsbusiness globally. It creates positive or negativeimpact in the various business functions of acompany because if company use good quality rawmaterial, it increases the sales of the product andopposite it, the impact will be negative (Hilton andSohal, 2012). For example, if Lewis provide goodquality product that will be create positive impacton the company globally and affected the economyof the organisations positively. For gathering pureand correct data, researcher can use qualitativemethod for doing research.CommunicationIt is process of transfer and exchange information betweenindividuals and groups by using a common system andmode (Kaiser and et. al., 2015). It is an important factorthat help an organisation to provide or transfer informationwith the different departments. In Lewis, when companyoperate its business global level it can use various modesand channels of communication such as social media,email, chat box and others. For providing information andshare information regarding products and services with itscustomers, organisation use different channels such as TV,radio, newspaper, internet, social media and others. On theother hand, researcher can use various modes such asemail, online survey, message, online questionnaire andothers to collect data for research. RiskBasically risk is related to future uncertainty and can havepossibility of losing something which have some value. InLewis, the company also have some risk when it operates8
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