Managing a Successful Business Project Plan- Doc

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Managing a SuccessfulBusiness Project
TABLE OF CONTENTSTOPIC.............................................................................................................................................1INTRODUCTION...........................................................................................................................1TASK..............................................................................................................................................1P1. Aims and Objectives........................................................................................................1P2. Project Management Plan.................................................................................................3P3. Produce a work-break down structure., Gantt Chart and Time Scale..............................4..........................................................................................................................................................6..........................................................................................................................................................7P4.Research Methodologies...................................................................................................8P5.Finding and Discussion...................................................................................................10P6.RECOMMENDATION..................................................................................................20P7.REFLECTION................................................................................................................21CONCLUSION..............................................................................................................................22REFERENCES..............................................................................................................................23
TOPICTo determine the impact of globalization on new product development of company. Acase study on H&M.INTRODUCTIONGlobalisation is the process by which businesses or other organisation developinternational influence or start operating on an international scale. After the centuries oftechnological progress as well as advances in international cooperation, the world is moreconnected than ever. It is because of globalisation and describe the growing interdependence ofthe world's economies, population and cultures, brought about by cross border trade in productsand services, flow of investment, information and technology (De Brentani and Kleinschmidt,2015). Businesses are greatly influenced by globalisation as they gain the opportunities to tradeacross the boarders (Strategies for new product development on global scale,2017).Globalisation leads to increase in transfer of capital including the expansion of foreign directinvestment (FDI) by transnational companies (TNC's) and the rising influence of sovereignwealth funds. In terms of production there was greater outsourcing as well as offshoring. Further,globalisation also leads to greater level of labour migration both within and between nations. Inaddition to this, innovation is also increases because spending on innovation, capital investmentas well as infrastructure is also raised across the world. Thus, globalisation results in bringingpositivity in the businesses.This present report will cover, aims and objectives, overview of the company,background of the research and rationale. After that, project management plan will also bedepicted in this research paper. Research methodology and data analysis and finding will be donein this study. Afterwards, recommendation and reflection part will be done.TASKP1. Aims and ObjectivesAims and ObjectivesAim:“To determine the impact of globalisation on new product development of company. Acase study on H&M”.Objectives:To determine the concept of globalisation.1
To determine the factors of globalisation that affect H&M in the development of newproduct.To analyse the challenges faced by H&M after globalisation in the new productdevelopment of the company.To provide recommendation on successful launching of new product in the market.Research Questions:1.What is the concept of globalisation?2.What are the factors of globalisation that affect H&M in the development of new product.3.What are the challenges faced by H&M after globalisation in the new productdevelopment of the company.4.What are the recommendations on successful launching of new product in the market.Overview of the companyH&M is being chosen for assessment. Henns & Mauritz (H&M) is a Swedish multinationalcompany. It is recognised and known for its fast fashion clothing company for men and women,children and teenagers. It was founded in 1974 by Erling Persson. Its headquarter is located inSweden. The operation of H&M is in 62 countries and there are 148000 employees are currentlyworking (Charles Jr, Schmidheiny and Watts, 2017). In this present report, H&M is going tolaunch a new product (summer shoe) in London fashion week.Background of the ResearchThe present research is based on the impact of globalisation on the new productdevelopment of H&M company. Globalisation is a very popular topic in context of businessesbecause it has great impact on the profitability, sales, market share, operations as well as entireorganisation. After the globalisation it becomes easy for the organisation to trade across theboarder by which they can expand their business (Kawakami, Barczak and Durmuşoğlu, 2015).Thus, the study of research will identify the factors and challenges that affects the organisation asa whole as well as in development of new product. H&M is one of the biggest fashion brandcompany working at global level thus, there are various situations arise where sometimes itbecomes very difficult for them to operate and sometimes it creates ample of opportunities toexpand them at global level.Rationale2
Around this topic, the impact of globalisation on the businesses, there have beenextensive researches are done. This present study will analyse the impact of globalisation on thenew product development of H&M. Company is going to create and develop a new productwhich is summer shoe in the market. So, it is very important to identify the challenges along withopportunities that company gain from the global market. The reason for selecting this topic isthat globalisation a very broad term but there are many factors such as technology, political,differences in tax system, production issues, resource and markets, industrial organisation andmany other factors are there which affect the operation of company (Gachoka, 2015).P2. Project Management PlanProject Management Plan.Project management plan is very important part when it comes to conducting research onany topic for the study. It is the document that is used to guide both execution of the project andproject control. The main elements of project management plan includes standard for scope, costand schedule, quality, communication, risk and resources. Here are the elements described belowwhich are used to create a project management plan-Cost- This is the fundamental work of the researcher that scholar have to set the cost orplan the budgeted cost in which the study is completed. Thus, proper management of costing isneeded so that all the activities of research carried in effective manner. In conducting this presentresearch, £5000 is requires reaching the aim and objectives by performing all the tasks becauseglobalisation is very broad topic and researcher has to study all the narrow aspect so that resultobtained will be authentic (Postelnicu and Dabija, 2015). Further, in the production of newproduct which is shoes, the cost will be £50000 as it includes start from beginning of marketresearch.Quality- Quality is very important to reach the aim and objectives as well as to solve theissues in the research. All the information or data which are collected by the researcher shouldhave reliability and authenticity. Researcher should ensure that from gathering data tointerpretation, quality must be maintain. Further, Company will use key performance indicatorand benchmarking so that the quality of shoes or new priduct can be monitiored.Resources- Adequate resources are required to conduct the entire research in asystematic manner. If researcher does not have adequate resources than the quality of study willbe affected. So it is very important that required resources should be gathered. Resource includes3
laptop, storage devices, stationery items. Further, the resources required to complete shoes aretrained professional for conducting market research, raw materials, fund, time etc.Communication- Communication is the backbone when it comes to conducting anyresearch on any topic. There should be effective communication between the function ofbusiness and all the activities related to the purpose of globalisation. Researcher will use emails,circulars are selected for effective communication. Further, in the communication of newproduct, H&M will use social media advertisement, fashion maximum, will conduct fashionshoes etc.Risk- In order to conduct the research effectively it is very important that there should beproper assessment of risk that will help the organisation and investigator to maintain theeffectiveness of the study of the investigation (Okrepilov and Leonidovich, 2015). There aremany risks such as theft of data, security issues etc. thus, it is very essential that researchershould ensue and mitigate the risk by making proper plan and management. In addition to this, inthe production and the launching of shoes H&M also faced some risk like cost of productionmight be increase, theft of design before launching, customers will like or not etc.P3. Produce a work-break down structure., Gantt Chart and Time Scale.TaskModeTask NameDurationStartFinishPredecessorsAutoScheduledIdentification of market8 daysMon 03-12-18Wed 12-12-18AutoScheduledSelection of market9 daysThu 13-12-18Tue 25-12-181AutoScheduledconducting marketresearch9 daysWed 26-12-18Mon 07-01-192,1AutoScheduledformulating of goals andobjectives7 daysWed 26-12-18Thu 03-01-192AutoScheduledidentification of audiencein new market4 daysTue 08-01-19Fri 11-01-193,4AutoScheduledcreating marketing plan6 daysTue 08-01-19Tue 15-01-193AutoScheduledimplementing ofmarketing plan10 daysWed 16-01-19Tue 29-01-195,6AutoScheduledtesting of product8 daysWed 30-01-19Fri 08-02-197Autofinal launch of product in5 daysMon 11-02-19Fri 15-02-1984
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