Managing a Successful Business Project
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Added on 2020-12-09
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3 2) Aims and Objectives of proposed research 4 3) Scope and limitations of project 4 4) Resources and cost consideration 5 5) Gantt chat and Work break down structure 6 6) Risk register with proposed research8 TASK 2Research Plan 10 Chapter 1Inroduction10 Chapter 2 Lalesso review11 Chapter 3Methodology13 Chapter 4Result 17 Interpretation: 27 Chapter 5Conclusion and Recommendation 27 Chapter 6Reflection 28 CONCLUSIONS 29 REFERNCES30 APPENDIX 32 Project logbook 32 INTRODUCTION Managing a
Managing a Successful Business Project
Added on 2020-12-09
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Managing a SuccessfulBusiness Project
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1: Project Plan.......................................................................................................................31) Brief explanation of proposed topic and the reason for choosing it..................................32) Aims and Objectives of proposed research .......................................................................43) Scope and limitations of project.........................................................................................44) Resources and cost consideration.......................................................................................55) Gantt chat and Work break down structure........................................................................66) Risk register with proposed research ................................................................................8TASK 2Research Plan...................................................................................................................10Chapter 1Inroduction............................................................................................................10Chapter 2Literature review...................................................................................................11Chapter 3Methodology.........................................................................................................13Chapter 4Result....................................................................................................................17Interpretation:.......................................................................................................................27Chapter 5Conclusion and Recommendation........................................................................27Chapter 6Reflection..............................................................................................................28CONCLUSIONS............................................................................................................................29REFERNCES.................................................................................................................................30APPENDIX....................................................................................................................................32Project logbook.....................................................................................................................32
INTRODUCTIONManaging a successful business project is all about the practice of planning, initiating,executing and controlling each operational activity so as to achieve specific goals on specifiedtime period. The company which is being taken into consideration in order to carry out thisassignment is Zara which is one of the fast fashiom retailer company with its headquarter inUnited Kingdom (Bartlett, Doz and Hedlund, 2013). Moreover the company is planning toenhance its business by adopting the technique of joint venture with Lalesso in Kenya. Thisassignment was divided into two main task in the first task project plan is of the proposedresearch is being explained with the help of aims, objectives, resources and cost consideration.Along with this Gantt chart, work break down structure and risk register with proposed researchis also being explained in this task. Whereas in task 2 research plan of the proposed research withthe help of literature review, methodology is being explained. Lastly, final result and conclusionalong with recommendation has being given so as to achieve the target aims and objectives onspecified time period.TASK 1: Project Plan1) Brief explanation of proposed topic and the reason for choosing it. Zara which is one of the fast fashion retailer company with its headquarter in UnitedKingdom and it was founded by America Ortega and Rosalia Merain 1975. It serves all over theworld and as the company is achieving huge successful growth in such areas so management ofZara company is planning to enhance its business area in through joint venture with Lalesso inKenya. Therefore the main reason behind choosing this plan is to enhance its market share and togain more of competitive advantage at global level so as to increase the profitability ration ofbusiness by taking customer satisfaction into consideration.Therefore the proposed project topic is to analyse the risk and benefits of a joint venturebusiness while entering at international market (Beringer, Jonas and Kock, 2013). Joint ventureis one of the best technique which is adopted by an organisation in order to expand theirbusiness. It is a business entity which is created by two or more parties in order to shareownership, returns, governance etc. In addition to this it is the best technique which the Zaracompany is planning to take into consideration with Lalesso in Kenya. so as to increase itsmarket share at an international level. There are several risk and benefits which are associated
with joint venture business in international market so in order to identify risk and benefits aresearcher carry out this research.The main reason for choosing this topic is expansion of business at an international levelso as to overcome the impact of Brexit. As due to Brexit UK faced several crisis in the form ofdownfall of economy , MNC's got degraded. So in order to overcome such issue and to improvethe overall economic condition Zara have planned to joint venture with Lalesso in Kenya.2) Aims and Objectives of proposed research Aims:“To analyse the risk and benefits of joint business venture with Lalesso in Kenya. A casestudy on Zara”.Objectives:To study about the concept of Joint venture. To identify benefits of joint venture for Zara while expanding their business in Kenyawith Lalesso.To analyse the risk factor of joint venture for Zara while expanding their business in inKenya with Lalesso.3) Scope and limitations of projectScope of project:Scope of this project as per company prospective term to be wider Zara is planning toglobalises its business in Kenya with lalesso through joint venture technique. So if the companywill enhance its business in Kenya through joint venture with Lalesso company then it will helpin achieving greater number of market share as well as will be helpful in achieving more ofprofitability ratio and productivity (Drucker, 2012). This is because joint venture is term to bethe best techniques with the help of which company can easily achieve its competitive advantagein international market. In addition to this economies of scale can also be achieved easily as wellas it forces company to share revenue and profits along with risk of loss and failure. Whereasfrom the researcher point of view the scope of research is also term to be wider becauseresearcher acquire more and more knowledge of various tools and techniques like about in whichsituation what type of research need to be carried out as there are different type of researchtechniques like exploratory, descriptive etc. Moreover with the help of such tools and techniquesresearch also acquire in-depth knowledge about the topic which could be helpful for carrying out
future research as well in an effective and efficient manner.Whereas the schedule of my researchproject is that to carry out research in order to analyse the scope of growth and development ofZara in Kenya for which data is being gathered with the help of questionnaire as survey is beingconducted among the employees, customer of an organisation. In questionnaire a set of questionare being given to sample respondent related to research topic so as to analyse the viewpoints ofrespondents.Limitation of the project:Main limitation of this project is Sample size, Lack of available and/or reliable data, Lackof prior research studies on the topic, Measure used to collect the data and Self-reported data.The limitation of this project for Zara company is that while entering in joint venture withLalesso company in Kenya it is essential to analyse the risk which may affect the working ofbusiness. Analysis should be done of whether the Lalesso is liable to invest equal amount ofcapital or not, whether they possess skilled or unskilled labour. This is because if in case Lalessowill not be liable to invest or possess unskilled labour then it will negatively impact uponprofitability of an organisation and will turn into a major limitation of entering through jointventure. Whereas from researcher point of view the limitation of the acceptance of the method ofjoint venture with Lalesso is that flexibility can be restricted and when this will take placeparticipants have to focus on joint venture and because of which individual business may sufferfrom loss. As well as clash of culture may also take place place which can result in poor co-operation and integration. Additionally, it may also be difficult to exist from partnership in casewhen they want to exist as there is a contract involved.4) Resources and cost considerationResources:There are different resources needed by researcher such as cost, time, communication andmany other. All these are essential for researcher to complete research activities within giventime period. Resources are term to be the essential aspect which an organisation and a researchermust consider, so as to carry out project plan effectively and efficiently. From the point of viewthe Zara company the resources which the management must take into consideration is of funds,human resources, machinery etc. If the management will make best and optimum utilization ofthis resources then it will help in achieving greater profitability and productivity of anorganisation (Eskerod and Huemann, 2013). Additionally optimum utilisation of resources will
also help in minimizing of cost, if in case there arise a issue of insufficient funds availability thenit will negatively affect the project plan. Thus management of Zara must ensure better andeffective utilisation of resources in each operational activity. Whereas from the research point ofview, researcher must make best utilisation of its resources like books, journals, magazines,online survey, libraries etc. so as to achieve viable and accurate data for research which canterms to render better outcome for an organisation. Thus, the resources considered by aresearcher to collect effective data is 50 respondent from wider population.Cost consideration:Cost is term to another essential aspect which must be considered by management of Zaraand a researcher so as to execute proper project plan. From the company prospective the cost thatwill be required to carry out project plan is approx 388000 pounds, whereas a researcher point ofview the cost required to carry out effective research is approx 50000 pounds. Total forecasted budgetParticular 2017-18($)Implementing technology cost170000Promotional expense70000Advertisement expense55000Catalogues 18000Training charges75000Total cost3880005) Gantt chat and Work break down structureGantt chart:It is the chart used by the management of Zara so as to determine the completion time ofeach task. Horizontal side of this chart represent the total time span of the project which is termto be broken down into increments, whereas on the vertical axis it represent about the types oftask that make up the project (Hillson and Murray-Webster, 2Killing, 2013). Therefore this chartgives the clear picture of the project status. Moreover it include the start and finish time scheduleof different set of activities which are to be carried out while carrying out this project. Apartfrom this it also helps in representing the status of the project as well as who is responsible for
each task in the project. There are certain features of Gantt chart which states the projectmilestones, dependencies between task, person assigned to each task and the start and end datefor tasks.
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