Managing a Successful Business Project - Marks and Spenser
Added on 2021-02-21
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Managing a SuccessfulBusiness Project
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Devise the aim and objective for the scenario.................................................................3P2: Produce project plan.........................................................................................................4P3: Create work breakdown structure and Gantt chart...........................................................5TASK 2............................................................................................................................................7P4: Conduct small scale research...........................................................................................7TASK 3............................................................................................................................................9P5: Analyse the research by using appropriate tool...............................................................9P6: Communicate the necessary recommendation for the research.....................................16TASK 4..........................................................................................................................................17P7: Reflect the research to enhance learning and meet the objective...................................17CONCLUSION..............................................................................................................................17REFRENCES.................................................................................................................................18Logbook ........................................................................................................................................19
INTRODUCTIONThe purpose of managing a business report is to utilise the abundant resources effectivelyin order to maintain smooth functioning and achieve the desired outcome by conducting thefunction like planning, organising and controlling effectively. The project management requirethe critical task such as conducting research as well as investigation that can further assist thefirm to meet the objective and fulfil its scope successfully. Thus, they are responsible to figureout the chances of risk and handle it by maintaining coordination and establish adequate strategy(Ardichvili and et. al., 2012). For the better understanding of report Marks and Spenser companyhas been selected which is multinational retailer that deals in home decor item, clothing, andfood items. This report cover topics like establish the aim and objective of company for theselected theme. Collect the data and carry out small scale research. Moreover, present the reportand make appropriate recommendations to reach out meaningful conclusion. Further, reflect onthe values which are used to support the sustainable performance of an organisation are coveredin this report. TASK 1P1: Devise the aim and objective for the scenarioGlobalisation refer to the open economy where the large multinational industries caneasily diversify their businesses or disperse their services from home country to various hostcountries. It is basically a dynamic process that has led to the increase in foreign directinvestment by forming interconnection between the different countries successfully. This hasfurther improved the living standard of people by offering them wide employment opportunity,enhanced the transportation platform and lead to better flow of information from variouscommunication channels (Bhabha, 2012). In relation with the large MNC's of United Kingdomlike Marks and Spenser has taken the advantage of globalisation in order to expand theiroffering and mitigate the chances by analysing the external environment effectively. Thus,existence of these companies are promoted by the local authority because it create jobemployment in all countries across the world. AimThe aim of Multinational companies is to identify the positive as well as negative impact of thebusiness environment of host nations.
Globalisation has offered the wide platform with the help of which companies can tradesuccessfully within different region of an economy. But it is significant for the large companiesto analyse external environment such as political, social as well as legal factor because it candirectly affect the performance of business and can hamper its functioning. So for the vitalperformance business determine the environment and make the suitable strategy which helps tomitigate the chances of risk effectively. ObjectivesTo analyse the impact of external environment within the functioning of MNC's.To explore different ways by which the large companies of UK can perform itsfunctioning effectively in different part of an economy. Questions Determine the impact of external environment within the large MNC's of UK?What are the various ways on the basis of which large companies can carry out it'sfunctioning effectively?P2: Produce project planThe purpose of project management plan is to prepared a documentation that consist ofthe project activities like how the specific project will get planned, monitored as well asimplement to gain the best possible result. It basically consist of three things that include theactivities, task and resources which function simultaneously in order to attain the objectivesuccessfully (Khan and et. al., 2015). Further, the current project of report which is about theimpact of globalisation within the host country. As there are several large MNC's of UK thathave global dominance so it is significant for them to understand the market and positively affectthe market by generating huge employment opportunity and fulfil the need of local residence.There are certain aspects which are the part of project management that is defined below:Cost: It is the monetary expenditure that company need to incur with the motive to attainobjective of project. Basically the large MNC's of UK like Marks and Spenser need to spend35000 pounds so that they can effectively expand their services and positive affect the economy.Scope: The current project has broad scope which can assist company to expand theirbusiness effectively within different geographical market and various investments in hostcountries that enhance the flow of fund and generate huge employment sources.
Time: The whole research work will take around 5 months to reach out the the objectiveand gain desirable outcome by gaining the deep insights regarding the topic.Quality: This is again one of the most significant tools that need to be focused by theresearcher as it help to fulfil the research objective. Here, investigator identify the ways on thebasis of which large companies to positively affect the host country so that they can exist for thelong run and conduct portfolio investment. Communication: The researcher can interact with their team via email, videoconferencing, face to face meeting and so on (Marsella, 2012). These are all the official mediumto conduct the communication effectively. Risk: Researcher can encounter with various type of risk like lack of financial resources,confidentiality of information, lack of adequate knowledge to deal with the hurdle and so on.Thus, the researcher need to focus on each and every aspect effectively. P3: Create work breakdown structure and Gantt chartWork breakdown structure: This structure is used while preparation of project as itbreakdown the whole topic into the smaller component. These are the manageable section whichare designed with the motive to conduct the each and every work effectively which further fulfilthe objective successfully (Briscoe, Tarique and Schuler, 2012). It is basically the hierarchicalway that divide the complex project into several roles and responsibility which create betterguidance and accomplishment the overall project objective effectively. In context to the largemultinational companies of UK can uses this structure while formulating the project as itmaintain accuracy, helps to figure out the overall time, cost as well as risk associated with theproject. This finally ensure that the team attain the certain milestones desirably. Therefore, this isan useful practice where work is carried out in step by step form that finally break the large taskinto smaller chunks which is considered as the easiest way that lead to the success of project.
Gantt chart: Gantt chart was first devised by the engineer named Henry Gantt after thecontribution of polish engineer. This chart gained huge popularity within the western countries asit the effective as well as efficient way to represent the work into chart. It is basically the barchart that indicate the relationship between the different activities which are performed withinstipulated time period (Nankervis and at. al., 2016). The list of the different tasks are representedon the vertical or Y axis whereas accumulated time interval are shown in the horizontal or Xaxis. As the graph illustrate the overall time interval which refer to the summary elements thatconstitute work breakdown structure of a project. The primary purpose of such chart is toconduct the planning for different project that is scheduled for different dates.
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