MANAGING A SUCCESSFUL Business Project INTRODUCTION 3 MAIN BODY
Added on 2021-01-02
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MANAGING A SUCCESSFULBUSINESS PROJECT
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY ..................................................................................................................................3a) Aim and objectives ............................................................................................................3b) Project management plan...................................................................................................4c) Small-scale research by applying qualitative and quantitative research methods..............9d)Analysis of the research and data using appropriate tools and techniques.......................12e) Communication of Recommendations.............................................................................19f) Reflection..........................................................................................................................20g) Logbook ..........................................................................................................................20CONCLUSION..............................................................................................................................22REFERENCES..............................................................................................................................23
INTRODUCTIONManaging successful business project is the prime responsibility of an organization so asto render valuable outcome to the company which will help to bring ahead than their competitorswho are operating in the same industry. In addition to this specific project include variousaspects such as quality, time, resources,cost, etc. which are required to be executed so as tomanage successful business project (Adzic, 2011). The present report is based on Marks and Spencer company which is British multinationalretailer company with it is headquartered in United Kingdom. Additionally, it is specialized inselling, home care products, clothing, luxury food products. The company earlier launches a newproduct Perfume which saw huge success in UK from last one year. Thus, CEO of the companydecided to expand business in France as well. This presented file discuss about the aim and objectives of the company project as well asproject management plan is also considered taking into consideration various aspects like scope,quality, cost etc. In addition to this work break down structure and Gantt chart is also discussingso as to provide time frame for the completion of project. Moreover, qualitative and quantitativeresearch methods is also used to carry out this project. Lastly, research methods, data analysis,appropriate recommendation and reflection is also undertaken in this assignment.MAIN BODY a) Aim and objectives Globalisation is termed to an important aspect in modern era as with its help organizationare expanding their goods and services to different sector and country. In addition to this it canbe defined as the integration of people, firm and government of different nations with the help ofinternational trade (Ariely, 2012). Moreover, through globalization business achieve successfulcompetitive advantage at a global level. Thus, it helps to achieve huge market share andprofitability CEO of the Marks and Spencer company decided to expand business in France aswell. Aim of project: “To examine the impact of globalisation on growth and profit of anorganisation”. A case study on Marks& Spencer. Objectives:
In order to carry out research it is very much essential to have definite objectives, as it helps inguiding person who is carrying out the research (Cleden, 2017). In order to expand business inFrance M&S company should possess certain objectives which are specified below:To understand the concept of globalisationTo examine the impact of globalisation on profit of M&S by 15% in next oneyear.To analysis the increment in sales by 20% in coming 2 years. To recommend M&S about how it can enhance its global presence. b) Project management planProject management plan is the plan which help the organization to carry out its businessplan in an effective and efficient manner (Coker, 2014). In addition to this this plan specifiesabout then action and the activities which the researcher need to carry out so as to achievesuccess in the business project. Moreover while preparing plan for project various factors need tobe considered and they are specified below:Cost: While executing any research the main aspect which need to be taken intoconsideration is the cost. Thus, project manager of M&S will consider the cost required in orderto expand its business in France (Doherty, Ashurst, and Peppard, 2012). Therefore, funds can beraising through different sources like through bank, investors, as these are the cheapest mode ofraising funds. As the cost estimated by the project manager to carry out this project is 45000pounds. The company have to use these funds in order to adopt the advanced technology so thatthey can easily expand business at global level. In addition to this it is also been estimated thatnear about15000 pounds sterling will be invested in order to promote product at global level.Scope: The scope of this research is termed to be wide in concept as it takes intoconsideration environmental and other factors in order to promote products at global level. Thus,it is essential for the research to identify the factors impact to carry out business globally,because it’s the main aim of the project. As the scope of Mark and Spencer company is toexamine the impact of globalisation on profit by 15% in next one year. As well as to analyse theincrement of sales by 20% in coming two years. Thus, it will help the research to acquire moreknowledge. In addition to this through globalisation at international level it will able to expandbusiness at large level and will result in increase in portability and market share of the company.
Time: This is the important aspect which the researcher must consider so as to gaincompetitive advantage of fist mover. In addition, to this employee should be allotted with fixedtime period so that they can carry out their respective task accordingly. Therefore Mark andSpencer company will require near about 7 month of time period whereas the time estimated bythe researcher is 2 months so as to result valid outcome.Quality: It is based upon the methods which need to be executed so as to carry putproject smoothly without any hurdle. M&S company must render best quality products to thecustomer so as to influence them and to build long term relationship with customer which willhelp them to achieve competitive edge at global market. Moreover, the researcher uses primarydata then it would result in bringing up accurate conclusion. And will increase the quality ofresearch. Thus, in order to expand business globally, project manager will render training anddevelopment session to its workforce so that they can develop their skills which are required inmodern era global market.Communication: It is an important aspect which the project manager will take intoconsideration so as to achieve success. As proper mode of communication will help inmotivating employees in performing their respective duties in an ethical manner. In addition tothis researcher should also focus in bringing up transparency while communicating with itsemployees so as to get work done from then in a desired manner. In addition to this mark andSpencer company will take into consideration different modes of communication like socialmedia, emails, advertisement etc. Whereas a researcher will adopt other communication toolslike audio call attending seminars, workshops, meeting etc.Risk: While carrying out research, risk factor must be analysed so as to carry out projectsmoothly. Risk can be in any form like less availability of capital, shortage of funds, not usingany undated technology, etc. Thus, after analysing the risk factors, accordingly researcher willmake strategies so as to deal risk and hurdles effectively.Moreover mark and Spencer companyshould also analyse the risk factors which can affect the business like cultural, political factorsmust be analysed by company in order to avoid risk.Resources: Availability of resources and optimum utilisation of the resources is the twokey aspects which the researcher must take in to consideration so as to get best outcome.Resources includes funds, manpower, machinery and equipments etc. If the M&S companywants to expand its business and market its product in France nation then it will make sure that
there is sufficient availability of resources in the form of funds. As without funds companycannot market its product at a global level.Work breakdown structure and a Gantt Chart to provide time frames and stages forcompletion.Work break down structure: It is referred to as segmenting of different activities insmaller parts so as to execute the project within the time period (Drucker, 2012). In addition tothis, it is very much essential to carry out different activities into different segment so that eachemployee get specialized in their work and can finish up their respective task on time. Moreover,it is termed to be decomposition of team members so as to accomplish organizational objectivesin hierarchical system. Furthermore, this structure also helps in achieving the pre-set objectivesby estimating the cost of project.
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