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Managing a Successful Business Project Assignment - Marks & Spencer company

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Added on  2020-12-30

Managing a Successful Business Project Assignment - Marks & Spencer company

   Added on 2020-12-30

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Managing a SuccessfulBusiness Project
Managing a Successful Business Project Assignment - Marks & Spencer company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Project aims and objectives....................................................................................................1P2 Project management plan that covers aspects of cost, scope, time, quality, communication,risk and resources........................................................................................................................2P3 Work breakdown structure and a Gantt chart to provide time frames and stages.................4TASK 2............................................................................................................................................6P4 Small-scale research by applying qualitative and quantitative research methods.................6TASK 3............................................................................................................................................9P5 Research and data using appropriate tools and techniques....................................................9P6 Appropriate recommendations as a result of research and data analysis.............................17TASK 4..........................................................................................................................................18P7 Value of undertaking the research to meet stated objectives...............................................18CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
Managing a Successful Business Project Assignment - Marks & Spencer company_2
Topic: To determine impact of international trade on business environment of United Kingdom.A Case Study on Marks & Spencer. INTRODUCTIONGlobalisation is regarded as convergence of the economic activities on the basis ofworldwide in market areas and also production. It is process of integration and communicationamong governments, organisations and people in all over the world. It has been grown becauseof advanced in communication and transportation technology. Under this, market globalisationminimizes the cost of marketing, meet with needs of local buyers, develop new marketopportunities, increase global sustainability etc. This present report is based on the Marks &Spencer company that deals in retail sector (Bücker and et. al., 2014). It provides home products,clothing and food items in many countries. Under this mention report will be discuss about theproject management plan that covers the various aspects of communication, resources, scope,time, cost, risk etc. There will be discussion about the quantitative and qualitative method ofinvestigation in order to meeting with the project objectives and aims. In order to conducting aninvestigation in a proper manner, there will be mention about data and research by using theeffective techniques and tools. TASK 1P1 Project aims and objectivesGlobalisation refers to process through which the comp nay develop its internationalinfluence in international scale (Buettner and et. al., 2012). The multinational firms arecommercial which conduct their business operations in many countries and they operate overseasthrough setting up units for an instance subsidiaries and also merge with the local firms.Multinational companies refers to those firms which engaged in the foreign Direct Investmentand also owns the value adding activities or operations in more than single country. In context tothis, multinational firms impact on business environment of United Kingdom. This project isbased on the Marks & Spencer company and deals in the retail sector in UK. Under this country,if there is any multinational country wants to expand its business then the environment of thiscountry will be impacted because it will enhance the competition level among two different firmswhich deals in same sector. 1
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Background of Project In United Kingdom country, there are large number of multinational firms are working.They develop the negative as well as positive impact on the business environment. Themultinational firms can give the developing countries with financial infrastructure for social andeconomic development. It is helpful in develop the employment related opportunities in hostcountries. It assess on developing pool of the managerial talent in host country. These all helpfulin provide the better employment related opportunities to local people of United Kingdom. It ishelpful in enhancing their standard of living (Campbell, Eden and Miller, 2012). On the otherhand, its negative impact is enhanced competition in the retail sector. In addition to this,multinational firms impact on national and local policies through causing the government forcompete with the each other. Multinational firms are make use to transfer the costing and alsosome of the other tax avoidance. Under this, the multinational firms invest in the host countriesand impact in the many ways such as provided employment opportunities, enhance technologicaladvancement etc. Aim: To determine impact of international trade on business environment of United Kingdom. ACase Study on Marks & Spencer. Objectives:To identify concept of international trade.To examine impact of international trade on United Kingdom business environment.To determine challenges which international trade face in Business environment of UK. Questions:What is concept of International trade?What is impact of international trade on United Kingdom business environment?What are challenges which international trade face in Business environment of UK?P2 Project management plan that covers aspects of cost, scope, time, quality, communication,risk and resourcesProject ManagementProject is a complete set of activities that aims to solve problem within a specific periodof time. A project management is a process of planning, organizing, controlling and closingwork of a team to achieve specific goals (Cooke, 2012). The main objective of projectmanagement is to create a complete project which satisfy client's objective. Primary challenge of2
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this management is to achieve all project goals within given motive. There are some criticalaspects mention below which have to be taken care by Marks and Spencer to ensure that theirproject reach required level of success.Scope: This factor affects the execution of project, programme, time, cost, quality,resources and customer satisfaction. The process of creating a scope management plan is toknow how the project are going to be defined and controlled. As per present project,byintroducing business in international market, Marks and Spencer gain opportunity to enhance itselling. It will automatically increase their profit level because in international market there arelarge number of buyers and currency rate is also more as compared to domestic market.Resources: It defines the way in which people and physical resources will be acquired,developed, managed and controlled by an organisation. This aspect enable managers of Marksand Spencer to allocate proper level of labour and cost necessary factor to complete project. Inorder to conducting or performing project, it is necessary for the project manager to make properavailability of resources such as financial, technological, human resource etc. They will help incompleting project in a better manner. Cost: This aspect mainly deals with resource and budgeting. This process ensure thatproject is complete within specified budget. It mainly contains resource planning, costestimating, cost budgeting and cost control factors (Cuervo‐Cazurra, 2012).ParticularsAmount Initial investment100000Expenses:Research and developmentalactivities25500Operational expenses15600Technology purchase cost17000Cost to IT experts21500Licensing fee 6000Closing value14400Time: It refers a duration of time of a project which is decided before starting till thecompletion. Marks and Spencer need to ensure this most important parameter because it providesa link between budget and deadline.3
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Quality: The amount to which project full fills the demand is defined as quality. It is aprocess in which policies and methods are created to ensure that project completes according tocustomers prospective. Mark and Spencer managers can use this factor to improve their qualitybut take of that quality must be planned in and not authorized. This will encourage company andtheir employee to focus on improving their quality of their products and business at every levelof organisation. Communication: Behind success of any organisational project communication plays aneffective role. Managers of Marks and Spencer must provide an efficient communication bridgebetween every level in their organisation to maintain the flow of information in their workplace(Dunning, 2013). That will not only helps their employees to perform accordingly to project butalso increase productivity level and enhance growth rate of company. Communication MatrixCommunicationPurposeMedium FrequencyAudience Kick off meetingsIntroduction ofproject andreview goals andobjectivesFace to faceOnceSponsor ofproject, projectteam andstakeholders.Project TeamMeetingsReview projectstatusConference callWeeklyProject teamMonthly projectteam meeting Meeting to reviewthe status andaction registerFace to faceMonthly Project managerRisk: It is affected by factors, including sales volume, per-price input, input cost,competition and economic climate and government policies. Managers of Marks and Spencermust need to evaluate all the major risk factor in the market and then regulate their workingstrategies. This will not only helps them to measure their risk factors but also lead them toincrease production and profit (Farndale, Brewster and Poutsma, 2014). Under this, there aresome risk involved in project related with the cost, time, quality etc. In order to manage the cost,there is a need to project manager to develop analyse these risk and develop effective strategies4
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