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Managing A Successful Business Project - Globalisation

   

Added on  2020-10-23

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Managing A Successful Business Project

INTRODUCTIONGlobalisation is defined as a process through which a firm can create interaction with theother firms, people on the international level. Every organisation wants to expand its marketshare and profitability at international level which can possible through the globalisation. In thecurrent scenario, there is a tough competition in the marketplace, every firm wants to makeinnovative products through which they can easily makes a huge customer base in themarketplace. The chosen organisation for this assignment is British communication which isproviding its services in telecommunication sector and based in London, UK. This report willdiscuss about the aims and objectives along with research methodology, data collection methodsand research methods. In the last, data analysis and recommendation will also be covered in thisreport.Positive impact of Globalisation on business organisations of UKEconomic impact – Globalisation has increases competition level in the marketplacewhich makes huge impact on the economy of a specific nation. Through the globalisation, theemployment, tax duties are increased which makes positive impact on standard of living of theresidential in the nation. It also supports the economic condition of the nation.Cultural impact – There are a large number of employees are working in the firm whoare from different culture and having different opinion and views on a task. When the managersof firm make decision for the workplace they takes feedbacks from the each employees. It alsosupports the firm in making expansion of the business in effective manner (Davis,2012).Ethical impact- This impact is related with the norms and beliefs which are formulatedby the firm for directing their employees to perform their duties in ethical way. With the help ofthis, firm can easily achieve a good reputation at global level. Therefore, every business firm hasto conduct their business functions in the ethical way.Background of the researchBritish telecom is a multinational firm which is providing its services intelecommunication sector with headquarters in UK. The company is giving their services in 180countries with approx. 18 million customers across the UK. According to the financial report ofthe firm in the year of 2018, the company has earned 12.5 billion pounds revenue (FinancialReport of British Telecom, 2018). Now the company wants to expand their markets in other

nations in order to increase the revenue and salesfigures. Such kind of decisions makes hugeimpacts on the business operations of the firm. It requires a huge support from the variousdepartments of firm so that the further expansion can be successfully done. Therefore, it is veryessential to identify the impact of globalisation on the various departments of British telecomwhich are given as under:Operation- This department has responsibility to formulate a synchronisation with theother departments which are also working in the British telecom (Basu, 2012). It reduces the costof activities of production through which a firm can easily make decisions for expansion in aspecific budget. For this, a proper communication structure is essentially required with the helpof this, managers can easily deliver their information in all departments in an effective manner.Marketing – This is an another essential element who has responsibility to spread theawareness in the customers about the offerings of firm. Therefore, the management of Britishtelecom have to provide specific targets to this department through which they will able inproviding efforts to fulfilling these targets in effective manner.Human resource – This department has liability to recruit and train the employees of afirm. Every nation has their own culture and beliefs so, it is very essential for this department torecruit knowledgeable and skilled employees of the nation. It will be helpful for the firm toidentify the requirements of the customers and fulfil them accordingly during the expansion.Accounting- The expansion of a firm requires a large number of transactions which canbe possible through finance department. It helps the firm in setting the prices of product andservices. On the other hand, a firm have to understand the accounting and financial policies of anation where they are expanded their business through which they can make changesaccordingly. It also provides accurate knowledge about the financial position of the firm to theinvestors and stakeholders.Aims of the project: “To Identify economic, cultural and ethical impact of globalisationon the various functions of a firm”- A case study on the British Telecom.ObjectivesTo get the knowledge about the process of globalisation To identify the impact of globalisation on the different functions of British telecom.To identify the barriers which are faced by the British Telecom at the time of expansion.

Research PlanTitle of Project - “What are the positive economic, cultural, and ethical impacts of globalisationon the various functions of a firm.” A case study on British Telecom.Project PlanName of Company -British TelecomsCost - Cost is an important aspect which is required to identifying at first by themanagers of British telecom. As the all functions of business expansion requires anappropriate amount of funds. It involves various elements such as installation ofequipment in the plant, land acquisition, labour cost etc. on the other hand, for analysingthe market trends it also requires a huge amount for investment. For marketing research,researcher has estimate an amount for this is approx. 50000 pound. Apart from that,Managers of BT have estimated the amount of 4,20,000 pound for carrying out numerousfunctions of expansion.Scope - Scope of Internationalisation concept is very high because it supports the firm inenhancing profitability and revenue. For successfully expansion, the company have tofollow trade policies of the nation so that the brand image of the firm can be built atglobal level There is a huge competition in telecommunication sector due to which bytaking support of globalisation a firm can easily expand their business at global levelwhich makes difficulties for other firms to influence the business functions of a firm innegative manner. Whereas, scope of research programme is also high because it facilitatethe firm to getting knowledge about the methods and techniques which helps them intaking sustainability and growth in the new market areas within a small period of time.Time - This factor is very important because with the help of it, company can easily set atime frame for every functions. Through which, the employees will perform their workwith full dedication that helps the firm in successfully expansion. The researcher hasestimated the time 4 month for completing the research programme. Whereas, theresearcher has estimate the time for expansion is 6 months.Quality- Quality is a major aspect that should be considered by the manager if themanager will not provide the quality in the products and services of the firm. It makesnegatively effects on the profitability of firm. Therefore, it is very essential for projectmanager of the British telecom to consider resources, limitations and take the effective

decisions for the business. On the other hand, researcher have select qualitative methodof research so that the valid conclusion can be received at the end of researchprogramme.Communication - British Telecom has various departments such as marketing, HR,accounting and finance who have perform their activities with common support andcontribution to reach their business operations at international level. For this, an effectivecommunication structure is required which have to establish by the managers of Britishtelecom. Whereas, the researcher has to make better communication with the respondentsso that the valid conclusion can be received at the end of research. The researcher can usevarious methods of communication such as call, mails, personal interaction etc.Risk - Business environment and huge number of competitors in the global marketincreases the risk level which affects the operations of British telecom in negativemanner. Therefore, the company have to evaluate such kind of risk and perform theirbusiness functions in the desired way. For analysing the risks and effect of variousenvironmental factors on the functions. The firm have to conduct PESTLE analysis,Porter's five forces model etc. Whereas, the researcher has also consider various factorswhich can affect the research programme such as wrong interpretation of data, poorcommunication etc.Resources - Resources build confidence level in the employees of firm with the help ofit, they perform their functions in an effective manner. The resources may includevarious elements of the firm such as employees, technical skills, funds etc. forconducting the research in effective manner, researcher have to identify various resourcessuch as computer system, internet connection etc.Work Breakdown structure for the projectWork Break down structure (WBS)- this is a tool of management which is used by theresearcher for represent the data in graphically manner. Through this kind of tool, the managerdivides the complex activity in small parts so that the activities can be completed in an effectivemanner. WBS is not limited for a small number of operations. With the help of this structure, thecomplex activities which cannot be done by a single individual it directs the manager to dividethe work in smaller parts so that the activity can be completed in more efficient manner.

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