Solved Managing a Successful Business Project - Marks and Spencer Assignment
Added on 2021-02-18
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Managing aSuccessful BusinessProject
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Brief introduction about the project..................................................................................3P2: Project management plan that covers various aspects including cost, scope, time, quality,communication and resources................................................................................................4P3: Work breakdown structure and a Gantt chart to provide time frames and stages............6TASK 2............................................................................................................................................9P4: Small-scale research by applying qualitative and quantitative research methods...........9TASK 3..........................................................................................................................................11P5: Research and data using an appropriate tools and techniques.......................................11P6 Recommendations that arises from doing this research proposals and data analysis.....20TASK 4..........................................................................................................................................21P7: Value of undertaking the research to meet stated objectives.........................................21CONCLUSION..............................................................................................................................21REFERENCES:.............................................................................................................................22
INTRODUCTIONThere are numerous organisations of UK operated at global level in order to capture hugemarket share and brand image in other nations It always get supported from the government ofdifferent nations due to having their maximum contribution towards the growth of their economyin terms of generating huge job opportunities, payment of huge taxes, enhances standard ofliving of people. To identify the role and impact of multinational organisations towards thebusiness environment of operated nations with a clear evidence, the project manager need toanalyse all aspects through conducting an appropriate research. The present assignment is basedon Marks and Spencer (M&S) who is a client of business consultancy firm “McKinsey &Company” wants to determine the impact of multinational organisation on the businessenvironment of hosted nations. The project includes mission, vision and objectives of company,project management plan, Gantt chart and Break-down structure, small-scale research byadopting qualitative and quantitative methods, data analysis and interpret and an appropriaterecommendations at the end of research.TASK 1P1 Brief introduction about the project.Going global is stated as the process through which the company increases its exports orglobal sourcing, it is the way through which the company wants to occupy a modest internationalpresence which would grow into a multinational organisation and would ultimately evolve as abig global brand. It is the integration of various resources of the company that combines togetherso theta they are able to come together so that it can become successful in global context. Bygoing global the company has the opportunity to use different factors in the global contextthrough which they will be able to achieve the overall objective of the organisation. It isassociated with the change that the business have to adopt through entering into differentcountries so that it generates maximum profits (Adzic,2011).Background of research project:In the global context every organisation has the opportunity to expand and capture themarket share of the industry in which it deals. The term globalisation means coming of differentcountries in the world together so that they can lead to the better place for the business enterpriseto trade their business. As it will help the country and the company both to enhance its
technology, services, trade practices, ethnology etc. M&S is a UK based company that deals inretail industry. It was founded in the year 1884 and is headquartered in London, UK. Thecompany is well reputed company and is trading their business globally. Company wants toglobalise their business so that they can get the advantage of first mover in the countries in whichthere are no retail fashion brand operates. As the company wants to expand their business in theglobal market they have to take care of the different functions and tools of globalisation whichwould encourage their expansion smoothly. Various factors that relates to globalisation has to betaken care while taking their company to global. Title:“How do multinational companies impact the business environment of the hostdestination. a county, region, city?Aim : To identify the impact of MNC upon local business of destination. Objectives: To identify the concept of business environmentTo investigate the impact of Marks & Spencer on business environment within the UnitedKingdom. To analysis the influence of MNCs on the local business in the mind set of globalisation. To examine the relationship between impact of M&S (multinational organisation) andbusiness environment of United Kingdom (Host country)(Ariely, 2012) . Questions What are the concept of business environment? What are the impact of Marks & Spencer on business environment within the UnitedKingdom? How MNCs impact on the local businesses in the midst of globalisation. What are the relationship between impact of M&S (multinational organisation) andbusiness environment of United Kingdom (Host country). P2: Project management plan that covers various aspects including cost, scope, time, quality,communication and resourcesProject management plan is a approved document which is essential to prepare in order toexecute business project activities in more effective and efficient manner. It defines the actions,prepare, integrate and coordinate the pre-determined planned activities so as to ensure that at the
end of the research, a valid outcome or conclusion can be drawn which help clients of“McKinsey & Company” to provides the answer to their clients about their topic. Beforepreparing such plan, various aspects need to be considered on the basis of which researchactivities can be properly executed. Explanation of such aspects are determined as under:Cost: Execution of each research activity requires an amount to incur so as to completethe allotted task on time with desired result. For this, the project manager need to ensure theiremployees about having sufficient amount of funds so as to build confidence among them toperform without facing any hurdles relating to shortage of funds. It can be arranged throughreserved funds or raising from investors or banks. 50000 pound has been estimated as totalexpenses of conducting research. For example, to achieve competitive advantage, MNC need toinvest cost in adoption of advanced technologies in their business operations so as to facilitatehuge amount of customers with quality products and services. For example, 200000 pound hasestimated to spend on preparing marketing budget in order to promote their products and servicesin other nations.Scope:The present research is based on the identification of the impact of multinationalorganisation on the business environment of hosted nations due to which the consultancy firmhas conducted research at global level for their clients. Therefore, the scope of research is muchwider.Time: There are lots of competitive opportunities available in business environmentwhich need to be achieved by organisations with their effective plans and strategies. Therefore,the project manager is held responsible to set time period for conducting research in order tobring valid outcome to their clients so that they can took further actions and decisions regardingtheir expansion. Allotting time period to employees to complete their task brings motivationamong them to focus on their work without engaging in any irrelevant activities. It has beenestimated 6 months as a time period to bring out valid conclusion after conducting an appropriateresearch.Quality: It is determined as crucial aspect which supports the progress of execution ofresearch activities in desired manner. The quality of project is very much based on the methodsused to conduct research activities. For example, selecting primary data brings more reliable andaccurate result related with the topic of research. While globalising the business, training and
learning programs shall be conducted for their staff to enhance their skills and knowledge so thatthey can serve new customers in better way.Communication: It is an essential aspect which plays an essential role in guiding andmotivating employees to perform in right and ethical way. For this, the project manager neededto bring transparency in communication which facilitate workers to directly communicate withtheir project manager while facing any issues or problems. While globalizing business, it mustrequired to create a better relations with the new customers through interacting with them onusing various platforms such as social media where lots of customers are active on daily basis.Risk: Lack of time, shortage of funds, outdated technologies etc. are some risk relatedfactors which can interrupt the research activities. Therefore, it is the responsibility of projectmanager to deal with such risk factors through preparing its staff with sufficient amount ofresources so that the execution of work will be continue without any interruptions. Whileoperating business in other nations, lots of competitors already exist in home nations whichbrings lots of risk to the new companies due to which it becomes more difficult to achieve hugesustainability. Resources: It includes human capital, funds, techniques and tools etc. without which theresearch activities cannot be executed properly within allotted time period. For this, the projectmanager need to ensure about availability of abundant resources after determining therequirements of resources so that their workers cannot faces any problems regarding shortage ofresources (Coker, 2014). While globalising business, funds is the main resources which need tobe invested in adoption of various marketing tools and techniques and hiring of new skilledemployees so as to achieve huge sustainability.P3: Work breakdown structure and a Gantt chart to provide time frames and stagesWork breakdown structure: In context with project management, Work breakdownstructure is considered as the deliverable oriented break down of the project into the smallercomponents. In this project, the WBS is a key project deliverable which organizes the teamworking into the various manageable section. In the other words, it is the hierarchicaldecomposition of an entire work scope to be carried out by the team aligned for the projects foraccomplishing the well-defined project objectives and create the deliverables. A workbreakdown structure consists of an elements such as products, data, manpower regulation,service etc. Along with this, WBS provides the necessary frameworks for as estimation of
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