Managing a Successful Business Project - Mcdonald

Added on - 17 Feb 2021

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MANAGING A SUCCESSFULBUSINESS PROJECT
ContentsINTRODUCTION.....................................................................................................................................3TASK 1....................................................................................................................................................3P1 Project aims and objectives..........................................................................................................3P2 Project management plan that includes cost, scope, time, quality, communication, risk andresources...........................................................................................................................................5P3 Breakdown structure and Gantt chart so as to know the provided time frame and stages ofcompletion.........................................................................................................................................5TASK 2....................................................................................................................................................7P4 Carrying out the task with the use of Qualitative and quantitative research methods forattaining project aims and objectives................................................................................................7TASK 3....................................................................................................................................................9P5 Evaluation of research and data with appropriate tools and techniques.....................................9P6 Appropriate recommendations in context with research in order to draw valid conclusion......17TASK 4..................................................................................................................................................18P7 Reflection on the value of undertaking research to meet objectives.........................................18CONCLUSION.......................................................................................................................................18REFERENCES.........................................................................................................................................19
INTRODUCTIONEach company tend to establish its business in order to have benefits and goodcustomer base, but it is not the only thing which firm had to so because managing andrunning a small business is more important so as to sustain in the market for longer period oftime (Bruckner and et. al., 2012). Thus, to manage the entire activity of business there aresome of the resources that are to be looked after such as proper planning, formulating properaims and objectives that are achievable etc., McDonald's is an American fast food company.It is world;s largest restaurant chain serving around 69 million customers in various countries.This project is based on the impact of social media in connecting with customers so thatbusiness can be foster. Thus, on the basis of this a small research will be conducted and forthis aims and objectives will be formulated. Therefore, qualitative or quantitative methodswill be applied so that better outcomes can be evaluated and on the basis of this conclusionwill be drawn.TASK 1P1 Project aims and objectivesGlobalisation is process for interaction among companies, people, governmentworldwide. It is increasing because of advance in communication technology andtransportation. It is integration of markets, economies, industries, culture and policyformulation globally. It describes system in which regional and national economies, culture,societies become integrated through communication, transportation, immigration and globaltrade network. It is making world economy more interdependent and connected.Multinational companies means owning or controlling goods and services production in onecountry other than home country. Most of corporations are influenced by the competition andsurvive in competitive era. As MNC is large firm incorporated in one country produces andsells services and goods in different countries. The given assignment is based on McDonald'swhich deals in burgers. If any MNC want to expand business then environment of UKcountry will be impacted as it enhance competition among each other of same sector dealingin same or related products. There are many other impact which surrounding need to facebecause of expansion such as pollution increment, competition (Carley and Christie, 2017).Thus, globalisation also have positive and negative points for both company as well ascountry.Background of project
There are many multinational companies running in UK market which bring positiveand negative impact on business environment. As Foreign Direct Investment (FDI) has alsoincreased rapidly with increase in globalisation. The multinational firms provide financial andsocial benefits to developing countries. The advantages of impact of MNC on UK businessenvironment are creating large number of job opportunity, broader market base, cutting taxrates and cheaper labour for manufacturing goods with competitors. Because of suchelements, competition is increasing (Cohn, 2017). As scholar said MNC possess advancedtechnology because of high knowledge which create positive effects for host countries to riseeconomies. The benefits are transfer of expertise and skill and developing quality of labourforce. It also assist in rising gross domestic products along with improving competitiveness,quality and efficiency. On other hands, drawbacks also arises because of MNC at UKenvironment. There are many business which cannot compete with such firm and have to facefailure. The corporation work unethically sometime which decline their brand, goodwill andmarket values. The cost reduction is major problems faced by market because of expansion ofbusiness in UK which force competitor to lower price and bear losses. Here, McDonald'shave to go through competitor because of burger king, Starbucks, KFC, Domino's.Aim: To determine the impact of McDonald's on UK business environment. A case study onMcDonald's.”Objectives:To determine the concept of multinational companies.To identify the impact of McDonald's on UK.To evaluate the major challenges faced by McDonald's while operating business inUK.Questions:What is the main concept of multinational companies?What are the main impact of McDonald's on UK?What are the challenges faced by McDonald's while operating business in UK?
P2 Project management plan that includes cost, scope, time, quality, communication, risk andresourcesProject Management plan (PMP) is considered as a formal kind of document thatshows or provides an idea about the project will be executed, monitored and controlled in agiven period of time. Project Management Plan may include baseline so that with theprogression of work performance of project can be measured besides performancemeasurement (Di Giovanni and Levchenko, 2012). Thus, it can be said that PMP is used fordoing activities in a proper manner without any kind of issue or problem. Further in a ProjectManagement Plan there are set of aims and objectives that are to be achieved for gettingbenefits in return. Along with this, project management plan must be flexible in nature so thatif any kind of strategy is not giving benefits than it can be changed. In a PMP there arecertain factors that are included all these are explained below for better understanding.Cost:This is an essential element and it is required for executing plan in a propermanner. Although implementing social media in business activities doesn’t cost much butposting advertisement may require a large amount of funds. Therefore, McDonald's musthave sufficient amount of money in performing all its activities in a better manner.Time:Success can be achieved by a company if all the activities are performed righton time. So, it is crucial for project manager to make strategies in such a way that all the tasksare achieved under set time. In terms of implementing Social media, McDonald's will takearound 3 to four months.Scope of Project:With the help of social media, McDonald's will now be able toconnect with large number of customers who are residing in different parts of the world. Thiswill not only improve consumer base but also enhance sales and profitability.Risk:Every business has some or the kinds of risks for instance: McDonald's in theirinitial years of implementing social media can face problems like not knowing the right socialmedia platform for promoting their activities.Therefore, all these activities are some of the important component that is to belooked after by McDonald's so that better outcomes can gained by the firm (Dunning, 2013).P3 Breakdown structure and Gantt chart so as to know the provided time frame and stages ofcompletionWork Breakdown Structure:
Work Breakdown structure is mainly used for dividing complex projects into simplerform so that work can be managed and execution of the task can be done in a better manner.So, it can be said that with the help of Work breakdown Structure larger task are segmentedinto small chunks in order to supervise and estimate required components easily. There arefew reasons for creating a WBS project as it assists company in organise their taskaccordingly so that project milestones can be achieved (Gilpin, 2018). Other than this, it alsohelps firm in having a estimation of cost, time and risk which can further aid in performingthe task in an effective manner. In terms of its structure it is based on deliveries like what taskis to be performed on a prior basis. Therefore, in order to know the efficiency of WBS it canbe analyse by the success of the project.Gantt Chart:Gantt Chart was first developed by Henry L. Gantt in the year around 1917, it is akind of tool which includes horizontal bars and is generally used in project management. Inbasically denotes total time span which will be required for completing a particular task. Inaddition to this, Gantt Chart helps in breaking down work into increments such as days,weeks or months. Thus, Gantt Chart provides with a clear vision or illustration of projectstatus but company cannot totally rely on this as contingencies are always there (Forsgren,2015).
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