Managing a Successful Business Project

This project examines the risks and benefits of joint ventures for entering international markets, using Tesco as a case study. It analyzes the advantages and challenges of joint ventures, including financial, legal, and human risks. The project also includes a detailed research methodology, outlining the qualitative approach, research design, and data analysis techniques used.

Managing a Successful
Business Project

Table of Contents
TITLE:.............................................................................................................................................1
TASK 1 ...........................................................................................................................................1
1. Introduction ............................................................................................................................1
2. Aims and Objectives ..............................................................................................................1
3. Scope and Limitation of Project..............................................................................................2
4. Resources and cost considerations..........................................................................................2
5. Gantt chart or work breakdown structure ...............................................................................2
6. Risks with research ................................................................................................................4
REFERENCES................................................................................................................................6

TITLE:
“The risks and benefits of a joint business venture to enter international markets”
TASK 1
1. Introduction
Joint venture (JV) is the business organization created by two or more parties normally
defined by shared ownership, returns, risks and governance. This task can be new project or any
other business activity. The joint business venture is very complex such as clear objectives,
different level of expertises, investment and assets, various culture etc. but some times, it is
beneficial such as increase capacity, sharing the risk and costs with partner, generate more profits
and so on (Miller and Weinberg, 2017) Through joint venture, localized business easily enter
foreign market. Organization that wants to expand their distribution network to new nations can
usefully enter into joint agreement to provide goods to localised business. Therefore, it is
benefiting from already existence distribution network.
This research report will highlight the analysis of effect of danger and advantages of joint
venture for entering into a global marketplace in context of Tesco. An organisation is basically
multinational groceries and general merchandise supermarket in UK. Study will provide review
of literature and different methodologies relating to research.
2. Purpose and Objectives
Purpose: To analyse the hazard and advantages of join business undertaking for entering into
global marketplace: A case study on Tesco.
Objectives:
 To gain the knowledge about international joint undertaking.
 To identify advantages of conjunctive undertaking for entering into international market
of Tesco.
 To analysis the problems faced by Tesco in context of global conjunctive undertaking.
 To recommend techniques for overcoming challenges and issues related to overcome
problem in forming Joint undertaking.
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3. Reach and Limit of Project
Restriction in project is any constraint that determine limitations of project. There are
mainly three limitation of study such as costs, time and scope. Some other limitations like,
labour, information technology and so on (Yan and Luo, 2016). These factors affect the project
management and completion.
Cost Limitations: It involves cost of labour, information technology and other resources
which are utilised in project completion. Therefore, project manager needs to ensure that
utilization limited costs of every resources and project completion easily. In context of present
study, researcher has failed to maintain the quality of work during investigation due to lack of
resources. In addition to this, reason for poor quality of work is strict budget. It is required by
investigator to develop flexible budget in context investigation which are required to be
conducted in the future.
Time Limitations: It specifies timeline according to which those components will be
presented involving final deadline for completion of project (Killing, 2017). Therefore, project
manager needs to sure that project will be completed according to time duration. In context of
present study due to lack of sufficient time, researcher has failed to conduct in depth
investigation. Investigator in order to overcome such limitation need to prepare schedule of
priority tasks on routine basis. In addition to this, they need to set short as well as long term
goals.
Scope of project:
The scope of project is the planning which involves defining and identifying specific
objectives, deliverable, tasks, costs and deadlines that determine limits of project. It is necessary
to explain all limitations of project after that establish obligation for every individual in a team
and establish procedure related to the way the investigation will get complete. The present
study has limited scope, as only few activities such as data collection, analysis and interpretation
will be done for accomplishing the desired goals of investigation. In addition to this, main
purpose of investigation is to gather the data related to the threats as well as advantages of JV
business.
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4. Resources and cost considerations
Resources and costs are essential for project management and its completion which is
responsibility of project manager (Miller and Weinberg, 2017)Therefore, they need to estimate
and establish costs and resources for project completion.
Resources Consideration: Resources are required to carry out the tasks of project. This
can be human being, technologies, financial which are necessary for completion of project task.
Therefore, project manager needs to ensure that hire skilled people, adopt advance technology
and utilization proper financial resources for completion of project.
Costs Consideration: It is major aspect of completion of project. Therefore, project
manager needs to forecast cost or budget for completion of project (Howerter and et.al., 2014).
Also, they calculate the costs of all the resources effectively. Resources involves labour,
technology etc. which are utilised in project management.
5. Gantt chart or work breakdown structure
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6. Risks with research
For completion of project, there are many risks faced by project manager such as
financial risk, political, time risk etc. Therefore, they are followed the different strategies to
overcome the risks to project management.
Type of Risk Probability Impact Strategies
Financial Risk Moderate High Project manager is
considered that project
will be completed in
allocated budget in
relation to joint
venture.
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Legal Risk Moderate High Project manager needs
considering the all
legislation for
completing the project.
Human Risk Moderate High Project manager
requires the all risk
related to labour and
employees for
completing the tasks.
Research methodology
Qualitative research is mostly concerned with quality and aims at getting actual feeling and
describes the situation. This research type is selected in the present study in order to get non-
numerical and descriptive results of investigation. This research type is exploratory and applies
reasoning using words. Qualitative research is considered as most useful and appropriate as it is
concerned with details and investigates how and why of decision making (Fisch and Schmeisser,
2018).
Research Design: In context of present investigation, descriptive research design has been
utilised by investigator.
Research Approach : Inductive research approach has been utilised by researcher in present
study.
Research philosophy : In present study , interpretative research philosophy has been used by
researcher.
Sampling : The present study chooses purposive sampling and selects 20 participants from top
level of management. Employees are considered as population who are working in the Tesco
because they can provide complete, relevant and true information about the organisation (Kumar,
2019).
Data analysis : Thematic analysis technique has been utilised in present investigation for
analysing the information gathered from both primary and secondary sources.
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REFERENCES
Books and Journals
Howerter, D.W. and et.al., 2014. Variation in Mallard vital rates in Canadian aspen parklands:
The prairie habitat joint venture assessment. Wildlife Monographs. 188(1). pp.1-37.
Killing, J.P., 2017. How to make a global joint venture work. In International Business (pp. 321-
328). Routledge.
Miller, N.H. and Weinberg, M.C., 2017. Understanding the price effects of the MillerCoors joint
venture. Econometrica. 85(6). pp.1763-1791.
Yan, A. and Luo, Y., 2016. International Joint Ventures: Theory and Practice: Theory and
Practice. Routledge.
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