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Managing a Successful Business Project - H&M

   

Added on  2020-12-10

23 Pages4376 Words159 Views
MANAGING A SUCCESSFUL BUSINESSPROJECT

Table of ContentsINTRODUCTION ..........................................................................................................................3a) Project aims and objectives for a chosen scenario.............................................................3b) Project management plan that covers aspects of cost, scope, time, quality, communication,risk and resources...................................................................................................................4c) Conduct research to generate knowledge which will form the basis for analysis .............6d) Analyse your findings and draw conclusions.....................................................................8e) Present and produce your project in an appropriate manner for the intended audience. .17f) Communicate your recommendations in an appropriate manner for the intended audience17CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19.......................................................................................................................................................20

INTRODUCTION Globalisation refers to process through which business or some other firms develop theirinternational influences to operating business at international scale. It help organisations inlaunching new products at huge level, so that they can attract ample number of customers andalso gain profitability at huge level. It is developing interdependence of the countries in all overthe world by enhancing variety as well as volume of the cross- border transaction in services andproducts through rapid diffusion of the technology. This present report is based on H&Mcompany and it is multinational clothing retail organisation. It provides fast- fashion clothing forwomen, children, men and teenagers. In this mention report will be discuss about an appropriateproject management plan that consists proper actions for meet with time frames and objectives(Agrawal, 2017). Different research methods to collect information about topic will be mentionhere. a) Project aims and objectives for a chosen scenarioGlobalization refers to process of integration as well as interaction between governments,people in all over the world. As this help organisations in launching new products at very hugelevel and in diverse culture. This all help organisations in attaining success and also gainprofitability at very huge level, so that their product get successful. It is regarded through someas capitalist form which entail an integration of national and local economies in to unregulatedand global market economy. It is an economic process of integration which is related withcultural as well as social aspects. An expansion of the global markets liberalize economicactivities of exchange of funds and projects in an effective manner. Globalisation led toenhancing competition along with economic shift from the developing to an emergingeconomies. In addition to this, it promotes sense of the , international co-operation, globaleconomic interdependency and cultural awareness. Background of project Globalisation is process through which work is enchantingly interconnected as result ofcultural exchange and enhanced trade. It is helpful in maximising production of services andproducts in better manner. With the help of this, firm can operate its business in more than onecountry (Aas, 2013). In addition to this, globalisation is assessing to develop more wealth in thedeveloping countries and reduce gap among them. H&M is multinational clothing firm and it is

known for its fast clothing fashion for women, children, men and teenagers. It provides latestdesigns to its consumers with different range. It conduct its business operations in around 62countries with more than 4500 stores. Its main focus is on taking its business at large scale andenhance its market share. This company offers quality and fashion at best cost. Its main aim is toenhancing as well as expanding its stores through 10 to 15% each year. H&M organisation hasbeen enable to be integrate economically in the global market. Aim: “To introduce and present new shoe in London fashion week to compete with other bigbrands and maximise own profitability”. A case study on H&M. Objectives:To analyse the idea of introducing new product in international market.To identify the usefulness of newly introduced services for target audiences and forbusiness competitors.To analyse the challenges faced by organisation while introducing new product ininternational market.Questions What is the concept of global market?How global market will help an organisation in launching new product?What are the major challenges organisation can face while introducing new product atglobal level?

b) Project management plan that includes relevant actions to meet objectives and timeframesThe project management includes cost, scope, size, time, quality etc. Under this, there aresome stages included in project management:Project initiation- It is a first stage in project management and under this idea for projectin elaborated and explored. The main aim of this phase is to analyse project feasibility in aproper manner. Under this, it is necessary that team of H&M should give priority to project,determine schedule, necessary resources and calculate budget.Planning phrase- Under this stage, manager of H&M company will develop the projectmanagement plan by consisting cost, communication, quality, risk, time and resources. Inaddition to this, plan for managing unidentified as well as identified risks is identified as it mayimpact aspects of project. Project plan also consists measurement of performance as well asestablishing baselines.

Project execution phrase- At this phrase in project, deliverable are completed as well asdeveloped. At the time of this phrase, capture the project metrics by tasks such as update projectstatus, meetings, performance reports, human resource needs etc.Project monitoring and control phrase- It deals with analysing project progression aswell as performance on the basis of project plan. It is necessary for manager to monitor theperformance and control activities of project (Benería, Berik and Floro, 2015). In addition to this,project manager of H&M company use information for maintain control over direction of projectthrough comparing progress reports with project plan. It is helpful in measuring performance ofproject related activities and take the corrective actions. Closing phrase- It is a final stage and intensity on releasing final deliverables toconsumers, terminating contracts of suppliers, handling the project documentation to businessand then communicating closure of project to all the stakeholders. Advantages of using project management are mention below:It is helpful in manage project in a effective manner and resolve all issues in a quickmanner. It prioritize resources of business and assure about the effective use. It assess in encourage a consistent interaction between suppliers, consumers and staffmembers. The project management is necessary because it assures the proper expectation which areset around what need to be delivered, when and how. With the help of this, H&M company canmanage the project in an effective manner. Project management plan refers to formal document that is used for manageimplementation of project. At the time of developing project, there are some of the importantaspects in project management plan mention below:Quality- Under this, H&M company should focus on make quality of its project better.For developing better quality of project, resources should be proper and from this firm can takeeffective decisions. Communication- At the time of developing project plan, involvement of stakeholders isnecessary. H&M can use various ways to communicate with its stakeholders such as telephone,emails etc.

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