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Managing a Successful Business Project Assignment: Globalisation

   

Added on  2021-02-20

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Managing a successful businessproject

Table of ContentsTOPIC: Globalization......................................................................................................................1INTRODUCTION...........................................................................................................................1a) Aims & Objectives...................................................................................................................1b) Project management plan.........................................................................................................2c) Research methodology ............................................................................................................3d) Data analysis............................................................................................................................4e) Recommendation & reflection...............................................................................................12f) Recommendation....................................................................................................................12g) Reflection...............................................................................................................................13CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16

TOPIC: GlobalizationINTRODUCTIONGlobalization can be defined as a procedure of interacting among different companies,governments and people worldwide. It has several impacts on the performance and growth levelof companies by sharing ideas, culture and way of doing things. It has also led to increasecompetition from developing to emerging companies. It has some advantages and disadvantagesfor fashion company as it promotes a sense of culture awareness & global economicinterdependency (Halibozek and Kovacich, 2017). For launching a new product it is importantfor H&M which is a multinational clothing retail fashion company to focus on target market. Itwants to launch a new product or brand new summer shoe in a London fashion week that isgoing to hold on the 16th-20th November 2019. The main aim of H & M company is to achievecompetitive advantages & attract a larger number of customers by introducing summer shoe topeople.a) Aims & ObjectivesAims“To gain competitive advantages and attract larger range of customers by launching anew product (summer shoe). A study on “H & M”.ObjectivesTo analyse the impacts of globalization on the performance of the company.To identify the best way of launching product in the fashion week.To increase profitability and brand image of the company.To reach new level of quality of products for increasing customer satisfaction.To measure the impacts of the product launch.Research questionsExplain impacts of globalization?What is the best way of launching a new product?How a manager can maximize profitability?What is the best way of increasing customers' satisfaction & increase quality of products?What is measurements of knowing impacts of the product launch?Rationale1

The main reason of choosing this topic is to make the manager able to increase their skillsand capabilities which are required in launching and introducing a new product in a Londonfashion week to people. By launching a new product the fashion company can increase itsprofitability and can also attract a wider range of customers.b) Project management planA project management plan is a document that includes several components such as cost,resources, scope, quality, communication, time, scope etc. H&M fashion retailer wants to attractmore customers by launching a new summer shoe products so it is important for them to make aproject management plan. By this plan it can evaluate and analyse that in how much time, howmuch cost it can make and launch product. For launching a summer shoe in the London fashionweek which is taking place on the 16th-20th November 2019, it will take approximate £40 costand in the context of research regarding product launching it will take approximate £15. Thiscompany wants to gain competitive advantages and also want to earn profit so it is also importantfor this company to know the scope and resources that will be required in doing research andlaunching a new summer shoe. In the context of scope it can be helpful in academic andcorporate as it can help students in managing and making a successful business plan. It can alsoincrease their skills and knowledge that are required for implementing a project and doingindependent research (Hirst, Thompson and Bromley, 2015).Resources also play an important role in managing a project plan. Resource planning is aprocess that can help a researcher in knowing that which resources are required in completingproject successfully. It requires effective human resources, financial resources and strong financein making a successful research and launching a product. Quality also play a vital role as H&Mcompany wants to increase its brand image so it is important for this company to manage andfocus on managing quality of project. For measuring a quality it requires to have an effectivequality measurements which can make sure to customers and researcher that quality of productsare effective. Internal project review, inspection and walk-through are some methods that can beused in quality management. Communication in a project management plan also makes aresearcher able to communicate in an effective manner with their client &b team of a project. Foran effective communication it requires to have an effective source, channel, receiver, message,environment, feedback etc. Researcher can make an effective use of E-mail, meetings, surveyetc. It is also important to manage time in project management plan. It requires analysing and2

make plan of the time spent on project activities, research, planning, scheduling, monitoring andcontrolling of all project activities. It is also important for managing risk as researcher has toface several risk in producing and managing a project plan. Shortage of finance, ineffectiveworkforce, lack of skills, inappropriate data are some types of risks.c) Research methodology Research methodology plays a vital role in conducting research. It has several steps andelements that help a researcher and students to understand types, designs, sampling, data analysisand other things of data collection and research. Research methods/types: There are mainly 2 types of research such as qualitative andquantitative. Qualitative research is being used to gain a deep understanding of opinions andmotivation. For conducting this research, researcher has make use of qualitative research asresults from this research are validated externally. Quantitative research is a non-descriptive andan iterative process in which researcher evaluate evidence. The data which are being producedby this method are numerical and also being evaluated & analysed by using mathematical(Meredith, Mantel Jr and Shafer, 2017).Research approach: There are mainly 3 approaches of research such as inductive,deductive & distinctive. Inductive research approach starts with research questions & objectivesthat are important for researcher to achieve them in the process of research. It does not involveformulation of hypothesis. For this research, researcher has make an effective use of inductiveresearch approach as it has selected to use qualitative research type. Deductive approach startswith a hypothesis & focus on causality. It does not focus on exploring new theories andphenomena as it is set of assumptions (Zayed, 2018).Research designs: In the context of research design, it has mainly 4 types of design suchas descriptive, experimental, quasi-experimental and correlation al. For conducting and makingthis research successful, researcher has make an effective use of descriptive design. A descriptiveresearch design seeks to describe the present status of phenomenon. In this type of researchdesign, researcher does not start with a hypothesis but after collecting data they develop one. Onthe other in the type of experimental, researcher use a scientific method in order to establishcause effect relationship.Sampling: Sampling also play a critical role in the process of research. It helpsresearcher in identifying views and opinion of people about their topic. H&M wants to increase3

their sales and wants to attract a larger number of customers by launching a new summer shoe inthe London fashion week. It is important for them to collect informations and know views ofmarketing manager and people of Hennes & Mauritz company about summer shoe. There aremainly 2 types of sampling such as probability and non-probability. For making and conductingthis research of launching a new product for H&M company, researcher will use simple randomsampling in probability sampling. In simple random, it will ask questions from 10 managers ofH&M company. The main aim of selecting this type is it gives an equal opportunity to allselected members to give their views (Bryman, 2016).Data collection: Data collection is an important process of research on which basis aresearcher gathers all informations and data. There are mainly 2 types of data collection such asprimary and secondary (Silverman, 2016). For this research, researcher has used primary data.Primary data means to collect data by researcher for the first time and it is also called first handdata. The main aim of using this method is to collect accurate data by knowing views of peoplepersonally. On the other hand, secondary data is called second hand data as it is being collectedthrough other sources that are available already such as books & journals etc. In the context ofprimary data, it will make effective use of survey and questionnaires from managers of H&Mcompany.Data analysis: It can be said that without analysing data after collecting data a researchercan not achieve their pre determined goals and aims. Data analysis is an important part ofresearch process. After collecting data it is important for researcher to analyse informations anddata. The main aim of data analysis is to discover useful informations in order to make anddevelop an effective decision-making process. This present research is based on qualitativeresearch and thematic analysis using interviews, questionnaires & focus group (Denzin, 2017).As the H&M company wants to attract a larger range of customers by launching new summershoe products in London fashion week, so it is important to analyse all gathered informationsabout new product.d) Data analysisResults and finding4

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