Economic Implications of Globalisation on Tesco

This assignment requires an in-depth analysis of the economic implications of globalisation on Tesco's operational activities. The study aims to explore the benefits and challenges faced by retail firms like Tesco due to globalisation. The project involves gathering data from authentic sources, applying thematic analysis, and presenting findings within a stipulated time limit. Through this assignment, students can develop their analytical, presentation, and time management skills, which are essential for conducting studies and teaching professionals.

Managing a
Successful Business
Project

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Aim and objectives for the chosen scenario..........................................................................1
P2. Project management plan with all important aspects............................................................2
P3. Work breakdown structure and Gantt chart...........................................................................2
LO 2.................................................................................................................................................5
P4. Applying qualitative and quantitative research methods to meet project aim and objectives
.....................................................................................................................................................5
LO 3.................................................................................................................................................7
P5. Analysing research and information with the use of appropriate tools and techniques........7
P6. Appropriate recommendations and a valid conclusion.......................................................14
LO 4...............................................................................................................................................15
P7. Reflection on the value of undertaking research to reach at stated objectives....................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Today’s era is of globalisation without which businesses now-a-days cannot survive. It is
one of the most important parts for businesses to sustain. Being operating at an international
level, firms are having a lot of implications from globalisation in the form of political, cultural,
ethical and economic (Lawrence and Almas, 2018). Several economic impacts are there that
firms are facing, especially in retail sector where customer’s tastes and preferences are changing
at a very fast rate. With globalisation, retail sector in the UK has developed economically as well
as socially which is satisfying all stakeholders with increasing efficiency of operations. In the
present study, there will be discussion on identifying the positive economic impacts of
globalisation on operational activities of retail sector of UK with reference to Tesco.
LO 1
P1. Aim and objectives for the chosen scenario
Aim – To identify the positive economic impacts of globalisation on operational activities of an
organisation – a case study on Tesco, UK.
Research Objectives
 To analyse the economic impacts of globalisation on organisational functions in retail
industry of UK
 To identify the positive economic impacts of globalisation on operational activities of
Tesco, UK
 To determine the challenges that Tesco has to deal with due to economic implications of
globalisation
Research Questions
1. What are the economic impacts of globalisation on organisational functions in retail
industry of UK?
2. How does economic impacts of globalisation prove to be positive for operational
activities of Tesco, UK?
3. What are the challenges that Tesco has to deal with due to economic implications of
globalisation?
1

P2. Project management plan with all important aspects
Project management plan can be referred as a formal document which is mainly prepared
to make all activities run as per the specified sequence. Further, it shows who all stakeholders are
associated with plan along with the scope of study. This assists in identifying and dealing with
the associated risks by making contingency plans. There are some important aspects of project
management plan like:
Cost – This states about estimating the total cost that will be required to accomplish the project.
Costs that are covered under this are related to labour, assets and direct expenses.
Scope – To understand the scope of project first is important to be understood before
implementation of the plan (Kerzner, 2018). This helps in increasing the probability of project to
become successful as well as in assessing the risks associated with it.
Time – Without giving due consideration on the aspect of time, it is not possible to accomplish
the project within stipulated timeframe. Therefore, each activity of project management plan to
be specified with its deadline is crucial.
Quality – While running a project, to meet the quality standards is crucial to make it successful.
Thus, all set quality standards are important to be complied with in the execution of project to
reduce the chances of its failure.
Communication – Success of a project management plan highly depends on the effectiveness of
communication (Heldman, 2018). In relation with various working relationships, communication
should be very clear to make all associated stakeholders satisfied.
Risk – It is essential to analyse and assess all associated risks before the implementation of
project so that chances of its failure can be reduced by dealing effectually with the same.
Resources – If resources required to execute the project management plan like manpower,
finance and physical are not sufficient enough, to complete it is not at all possible and so, there
will be delay in reaching at the final outcome (Nonino and et.al., 2018).
P3. Work breakdown structure and Gantt chart
Work breakdown structure (WBS) is mainly designed to meet the objective of having a
clear understanding and vision regarding work to accomplish the project so that team members
will have an appropriate understanding of all tasks that they are supposed to perform. WBS
shows activities to be conducted in a hierarchical format which helps in obtaining the results in
an efficient manner and within stipulated period of time (Premji, 2018). Whereas, Gantt chart is
2

basically a horizontal representation in the form of bar chart which provides a graphical design
of activities to be conducted in a proper sequence with their starting and end date so that final
deadline of project can be met within specified period of time.
Figure 1: Work Breakdown Structure (WBS)
Activity Schedule
3

4

Figure 2: Gantt chart
Figure 3: Timeframe
LO 2
P4. Applying qualitative and quantitative research methods to meet project aim and objectives
Research Methodology
Research methodology is all about collection of methods and techniques that are applied
on the subject of study in a systematic manner to reach at the valid and meaningful conclusion in
the most accurate and reliable manner (Kumar, 2019). This includes identification, selection,
processing and analysis of data on the basis of nature of subject. With the same, overall validity
and reliability of information of study is evaluated.
Research Design
Research design serves as the arrangement of collected data and can be termed as a
blueprint or framework which covers all methods selected for reaching at the final conclusion of
study by combining various components in a reasonable logical manner. For the present study,
5

descriptive research design is used for identifying the positive economic impacts of globalisation
on operational activities of Tesco where detailed information based on the topic is given. By the
same, an in-depth insight is gained on the situation and variables of study (Ledford and Gast,
2018).
Research Approach
This is a plan by which a specific group’s experience is briefed out as well as it provides
sense of the real world in a systematic way. It proves to be helpful in framing several theories
and concepts which are mainly taken out from the realistic studies. To identify the positive
economic impacts of globalisation on operational activities of Tesco, Inductive research
approach is selected. As nature of study is qualitative, so under this approach, at first, specific
observation will be made along with framing theories which ends in reaching at a generalised
conclusion that offers some evidence behind findings of study (The Selection of a Research
Approach, 2019).
Research Philosophy
It can be referred as a belief that tells about the manner in which information related to
the subject of study is collected, analysed and taken in use to reach final results. Through the
same, knowledge regarding subject is developed where certain assumptions are made on
practical considerations. In the current study, interpretivism research philosophy is used where
human interest is integrated in the study being qualitative in nature (Research Philosophy, 2019).
Data Collection
To identify the positive economic impacts of globalisation on operational activities of
Tesco, both; primary and secondary sources will be used to collect information. Primary sources
include tool of questionnaire under survey method by which first-hand information is gained
(Quinlan and et.al., 2019). Whereas, secondary sources involve several journals, books and
online articles based on the topic of study from which detailed data is gathered.
Sampling
Under probability sampling, simple random sampling method is used to select the sample
size for study i.e. 30 employees of operations department where research population is total
employees working in this unit of Tesco. Under this method, all respondents have equal
probability to get selected in the sample size (Liamputtong, 2018).
6

Data Analysis
There are basically two types of methods used for data analysis i.e. qualitative and
quantitative. Topic of current study is of qualitative nature which requires gathering theoretical
information rather numerical facts and figures (Mir and et.al., 2018). Therefore, to analyse the
gathered information, tool of thematic analysis is used where distinct themes based on
identifying the positive economic impacts of globalisation on operational activities of Tesco are
framed and interpreted with an aim to reach at accurate conclusion.
Ethical Considerations
While conducting a study, it is crucial to follow some ethical considerations like
maintaining confidentiality of information provided by respondents and not disclosing it to any
other third party. Further, it must be used for the purpose only for which it has been collected and
not for any other use (Coemans, Vandenabeele and Hannes, 2019). Apart from that, selected of
sources must be authentic from which data is gathered as well as it has to be true to the
researcher’s knowledge.
Research Limitations
There are always some limitations associated while carrying out a study like some
websites ask for specific payment to access. Due to this constraint, there are chances that some
important information is left out because of non-availability of fund. Also, study has to be
completed within stipulated framework of time while, there is plenty of data available in
secondary sources which cannot be used with specified duration (Senyo, Addae and Boateng,
2018).
LO 3
P5. Analysing research and information with the use of appropriate tools and techniques
Questionnaire
Name:
Designation:
Department:
1. Major economic impact of globalisation in UK is rise in the generation of income?
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Strongly disagree □
Disagree □
Neutral □
Agree □
Strongly agree □
2. According to you, does globalisation of economy create more jobs in the UK?
Yes □
No □
3. Which is the main economic benefit of globalisation for Tesco?
Increased market share □
Exposure to new and advanced techniques □
Improved efficiency of operations □
Rise in profits and revenues □
4. Which according to you is the major economic benefit of globalisation on operational
activities of Tesco?
Rise in speed of delivery of products □
Enhanced productivity □
Improved quality of products □
Rise in the level of productivity □
5. Do you agree that economic reform has proved to be successful in maintaining a healthy work
culture in Tesco?
Strongly disagree □
Disagree □
8

Neutral □
Agree □
Strongly agree □
6. What is the major challenge faced by Tesco because of economic implications of
globalisation?
Enhanced competition □
Change in labour laws □
Reduced market share □
Change in company policies □
7. Do you think that economic implications of globalization have improved the quality of work
life?
To a very high extent □
To a high extent □
To a moderate extent □
To a low extent □
To a very low extent □
8. Kindly recommend some strategies to overcome the economic challenges faced by Tesco due
to globalisation _________________________________________________________________
Thematic Analysis
1. Major economic impact of globalization in UK is rise in the generation of income.
9

Strongly
disagree
Disagree Neutral Agree Strongly
agree
3
7
2
10
8
No. of respondents
Interpretation
The above figure shows that major impact which globalization has put on the economy of
UK is increase in income generation as per highest response gained by maximum respondents
from the selected sample. It means that with globalization, economy of UK is flourishing and
getting a lot of income which it is re-investing in different things that are improving the living
standard of society and making the nation grow.
2. Globalization of economy creates more jobs in the UK.
Yes No
21
9
No. of respondents
10

Interpretation
It can be said from the above figure that level of employment has increased a lot in the
UK with globalization as per maximum responses gained from selected sample size. Number of
jobs in the nation have increased and so, status of people and so as of nation is increasing.
However, according to some respondents, it is not so as they think that behind increased level of
employment, there are some other reasons like establishment of micro and small and medium
sized businesses.
3. Exposure to new and advanced techniques is the main economic benefit of globalization for
Tesco.
Increased
market share
Exposure to
new and
advanced
techniques
Improved
efficiency of
operations
Rise in profits
and revenues
8
11
4
7
No. of respondents
Interpretation
It can be articulated from the above figure that globalization has provided a lot of
economic benefits to the nation. However, major advantage gained by the economy through
getting internationalized is exposure to new and advanced techniques. Nation is developing as
well as growing with earning higher profit and revenue through use of latest technologies in
businesses.
4. Rise in speed of delivery of products is the major economic benefit of globalization on
operational activities of Tesco.
11

Rise in speed
of delivery of
products
Enhanced
productivity
Improved
quality of
products
Reduction in
cost
11
7 7
5
No. of respondents
Interpretation
The above figure shows that economic impacts of globalization has given a lot of benefits
to the operational activities of retail firms and so as in Tesco. Company is getting advantages
through same like through getting diverse workforce being having operations in different nations
as well as through advanced techniques, effectiveness and efficiency in operations has increased
and so, there is rise in the speed of delivery of products which is the major benefit firm is getting
along with others like enhanced productivity, reduction in cost and improved quality.
5. Economic reform has proved to be successful in maintaining a healthy work culture in
Tesco.
12

Strongly
disagree
Disagree Neutral Agree Strongly
agree
4
6
2
8
10
No. of respondents
Interpretation
From the above figure, it can be said that economic reform through globalization has
played a crucial role in maintaining a healthy work culture in Tesco as per maximum responses
gained. With the same, a positive environment is created at workplace which makes employees
to perform their work with highest level of efficiency which is beneficial for the growth of
organization.
6. Enhanced competition is the major challenge faced by Tesco because of economic
implications of globalization.
Enhanced
competition
Change in
labour laws
Reduced
market share
Change in
company
policies
13
7
5 5
No. of respondents
13

Interpretation
It can be articulated from the above figure that along with so many advantages, there are
some challenges too which Tesco is facing due to economic implications of globalization. The
major among all is increase in the level of competition which creates many risks for the
organization. Thus, company needs to keep on bringing changes in its policies so that
uncertainties can be dealt effectually and on time. However, company faces some more
economic challenges like change in labor and company policies and reduced market share.
7. Economic implications of globalization have improved the quality of work life.
To a very
high extent
To a high
extent
To a
moderate
extent
To a low
extent
To a very
low extent
7
9
6
3
5
No. of respondents
Interpretation
It can be assessed from the above figure that quality of work life in retail firms like Tesco
has improved a lot through economic implications of globalization as per the responses given by
maximum respondents from the selected sample. It is because; there are many benefits that
nation gains through internationalization like exposure to new and advanced techniques which
leads employees to perform better and with high quality.
P6. Appropriate recommendations and a valid conclusion
As per the findings gained, it can be recommended to Tesco to that along with availing so
many benefits of globalisation through economic implications on operational activities, it should
also be careful about challenges which it can face due to internationalisation like change in the
labour policies, hampered market share and goodwill as well as intense rivalry among firms
14

(Shahbaz and et.al., 2018). To deal with the issue of increased competition, Tesco can bring
differentiation in its products so that customers would not switch over to the offerings of other
rivalry firms. Also, it can change its pricing strategy which can retain the customers in long run.
Apart from that, increase the market share and goodwill, company should consistently offer high
quality products and satisfy all its stakeholders by being fair and transparent (Young, 2019).
Therefore, overall it can be articulated that globalisation is offering plenty of advantages
to Tesco like exposure to new and advanced techniques, increased market share, improved
efficiency and quality of operations and rise in the profits and revenues as well as in delivery of
products by which economy of UK is flourishing in terms of increase in the level of employment
and rise in generation of income along with few challenges which it can effectually deal with
adopting and implementing suitable strategies (Asongu, Efobi and Tchamyou, 2018).
LO 4
P7. Reflection on the value of undertaking research to reach at stated objectives
The present study helped a lot in providing detailed knowledge regarding subjects like
globalisation, its economic implications, benefits for operational activities in retail firms, etc.
Along with benefits, this study also assisted in providing knowledge about ways to deal with the
challenges which retail firms like Tesco face due to economic impacts of globalisation. With this
study, firms other than Tesco would get assistance in dealing effectually with operational
activities by taking advantage of economic implications of globalisation. Moreover, Ph.D.
scholars, professors and many others who will conduct study on same subject will get help.
Overall, this study improved my analytical and presentation skills to a high extent.
CONCLUSION
From the above report, it can be concluded that there are plenty of benefits of economic
implications of globalisation on the operational activities of retail industry of UK. It can be
assessed from the study that if retail firms like Tesco avail these benefits in a proper way, they
can attain growth and sustainability at a very fast speed along with gaining competitive edge
over others. Also, it can be said that work life of employees has improved a lot with economic
implications of globalisation as their efforts have reduced and salary is increased with the help of
using new and advanced technologies which lead firm to attain higher profits at less cost and
efforts made by workforce. Thus, overall it can be articulated that, to retain customers in the long
15

run with earning high goodwill and market share, company needs to give due consideration to
globalisation and make suitable strategies accordingly.
16

REFERENCES
Books and Journals
Asongu, S. A., Efobi, U. and Tchamyou, V. S., 2018. Globalisation and governance in Africa: a
critical contribution to the empirics. International Journal of Development Issues. 17(1).
pp.2-27.
Coemans, S., Vandenabeele, J. and Hannes, K., 2019. Upcycling as a co-creative sensory
research methodology. In European Congress of Qualitative Inquiry. Edinburgh,
Scotland, UK.
Heldman, K., 2018. Project management jumpstart. John Wiley & Sons.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.
Lawrence, G. and Almas, R., 2018. Globalisation, localisation and sustainable livelihoods.
Routledge.
Ledford, J. R. and Gast, D. L., 2018. Single case research methodology: Applications in special
education and behavioral sciences. Routledge.
Liamputtong, P., 2018. Sensitive Research Methodology and Approach: An
Introduction. Handbook of Research Methods in Health Social Sciences. pp.1-10.
Mir, S. and et.al., 2018. Content analysis in SCM research: past uses and future research
opportunities. The International Journal of Logistics Management. 29(1). pp.152-190.
Nonino, F. and et.al., 2018. Project Management: Driving Complexity. PMI® Italian Academic
Workshop (Vol. 43). Sapienza Università Editrice.
Premji, Z., 2018. The No-Nonsense Guide to Project Management. Journal of the Canadian
Health Libraries Association/Journal de l'Association des bibliothèques de la santé du
Canada. 39(2). pp.83-84.
Quinlan, C. and et.al., 2019. Business research methods. South Western Cengage.
Senyo, P. K., Addae, E. and Boateng, R., 2018. Cloud computing research: A review of research
themes, frameworks, methods and future research directions. International Journal of
Information Management. 38(1). pp.128-139.
Shahbaz, M. and et.al., 2018. Globalisation, economic growth and energy consumption in the
BRICS region: The importance of asymmetries. The Journal of International Trade &
Economic Development. 27(8). pp.985-1009.
Young, M. S. C. ed., 2019. The emergence of ecological modernisation: integrating the
environment and the economy?. Routledge.
Online
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Research Philosophy. 2019. [Online]. Available through:
<https://research-methodology.net/research-philosophy/>.
The Selection of a Research Approach. 2019. [PDF]. Available through:
<https://in.sagepub.com/sites/default/files/upm-binaries/55588_Chapter_1_Sample_Cres
well_Research_Design_4e.pdf>.
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Appendix 1: Project Logbook Template
Week 2 Week4 Week 6 Week 8 Week 10
Update on weekly research/tasks
1. What have you completed? Framing of aim and
objectives
Project
management plan
Collection of data Analysis of data Conclusion and
recommendations
2. Did you fulfil task
requirements?
Yes Yes Yes Yes Yes
3. Are you on track and within
deadlines set?
Yes Yes Yes Yes Yes
Any risks and/or issues identified?
1. Did you identify risks/issues with a
lack of skills required for
undertaking research/tasks?
No No Yes Yes No
Problems encountered?
1. What barriers did you face? None None Plenty of available
data but specified
time limit
Huge availability of
information was
typical to be
assessed
None
2. How did you overcome them? - - Gathered from the
authentic sources
only
Applied tool of
thematic analysis
-
What have I learnt about myself?
1. Did I find it useful to complete the
tasks?
Yes Yes Yes Yes Yes
19

2. How well have I performed? Good Good Good Good Good
3. What did I contribute? Time and hard work Time and hard
work
Time and hard work Time and hard work Time and hard work
4. What can I improve on next week? Decision making and
handling multiple
tasks at a time
Decision making
and handling
multiple tasks at a
time
Decision making and
handling multiple
tasks at a time
Decision making and
handling multiple
tasks at a time
Decision making and
handling multiple
tasks at a time
5. How might this learning apply in the
future?
By conducting more
studies
By conducting
more studies
By conducting more
studies
By conducting more
studies
By conducting more
studies
6. Tasks planned for next week? - - - - -
Project status to date: On, Ahead, or
Behind
On, Ahead or
Behind
On, Ahead, or
Behind
On, Ahead, or
Behind
On, Ahead, or
Behind
Comments and signature of the
Tutor
20

Appendix 2
Performance Review (500 words max in a paragraph)
 What was the project supposed to accomplish?
Benefits of economic implications of globalisation on operational activities of Tesco.
 Did the project succeed in its aims? How do you know? Specifically, please outline
any evaluation and assessment undertaken.
Yes; through findings gained; thematic analysis is done to analyse the data.
 What things do you think worked well and why? Evaluate all aspects of the project
(e.g. initial inception, project activities and project outcomes) from a range of
perspectives.
Decision of making thematic analysis and project management plan with work
breakdown structure worked well along with Gantt chart that helped in getting the idea
about completion of activities to be undertaken and so, work is completed on time.
 What problems emerged during the project and how were they tackled? Was there
timely identification of issues and resolution during the project process?
Constraint of time limit, collection of available data due to abundance of secondary
information and restricted websites were the problems emerged during the project. These
were tackled by taking valuable data from authentic websites and using the same to reach
at valid conclusion within stipulated time limit.
Yes, there was timely identification.
 What did you learn from undertaking the project?
The present study helped a lot in providing detailed knowledge regarding subjects like
globalisation, its economic implications, benefits for operational activities in retail firms,
etc. Along with benefits, this study also assisted in providing knowledge about ways to
deal with the challenges which retail firms like Tesco face due to economic impacts of
globalisation. With this study, firms other than Tesco would get assistance in dealing
effectually with operational activities by taking advantage of economic implications of
globalisation. Moreover, Ph.D. scholars, professors and many others who will conduct
study on same subject will get help. Overall, this study improved my analytical and
presentation skills to a high extent.
 How would you rate your performance as Project Manager?
21

4 out of 5.
 What strengths and weaknesses of your performance did you identify?
Strengths
1. Time management
2. Risk handling
Weaknesses
1. Handling multiple tasks at a time
2. Decision making
 How will this inform and support your continuous professional development?
My continuous professional development is supported by this study as it improved
many skills of mine like time management, analytical and presentation,
communication, collection of information, data analysis, etc. which will help me in
the future while conducting more studies as well as in my teaching profession.
22