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Managing a Successful Business Project

   

Added on  2021-02-21

20 Pages4187 Words129 Views
Managing a SuccessfulBusiness Project

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Research Background..................................................................................................................1LO 1.................................................................................................................................................1P1 Aims and Objectives...............................................................................................................1LITERATURE REVIEW............................................................................................................2P2 Project Management Plan ......................................................................................................3P3 Time Scale, Gantt Chart.........................................................................................................5LO 2.................................................................................................................................................6P4 Research Methodology...........................................................................................................6LO 3.................................................................................................................................................8P5 Data Analysis and Interpretation............................................................................................8P6 Recommendations.................................................................................................................15LO 4...............................................................................................................................................15P7 Reflection..............................................................................................................................15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17

TOPIC:“What are the positive economic, cultural, and ethical impacts of globalization ondifferent business functions (e.g. operations, marketing, HR, accounting) within organizations?”INTRODUCTIONResearch BackgroundGlobalization refers to one market place for all the traders where they can carry out theirbusiness activities of buying and selling. Globalization has created a drastic change and broughtup revolution in a business world by spreading up products, technology, information andemployment opportunities across the world and established trade relations between differentcountries. However, Globalization has impacted the business functions of various companies byposing some positive and negative implications on its operations. This research project is basedon Tesco Plc, a British multinational groceries and merchandise retailer being headquartered inLondon, England. Tesco has 6800 shops across the world in Asia and Europe and is the thirdlargest retailer in the world in terms of Gross revenues. This research will apply different toolsand techniques in order to determine the positive impact of globalization on marketing functionof business and mention different challenges faced buy the department as well as recommend thestrategies to overcome these challenges and increase the company's profitability.LO 1P1 Aims and ObjectivesAim:“To determine the positive impact of Globalization on marketing function of business- AStudy on Tesco Plc”Objectives:To determine the changing trends in marketing function after globalization.To identify the positive impact of globalization on marketing function of the businessorganization.To evaluate the challenges and issues faced by marketing department through the impactof globalization on business. To recommend effective measures for marketing department in order to cope up and dealwith the challenges and issues faced due to globalization.Research Questions:1

What are the current changes in marketing department by the impact of globalization?What are the positive impacts of globalization on marketing function of a business?What are the issues being faced by marketing department due to impact of globalization?What are the strategies and measures to overcome and deal with the challenges faced bymarketing department due to globalization impact?LITERATURE REVIEWTheme 1: Changing trends in marketing function after globalizationAccording to Reilly and Williams, (2016) stated that as per the concept of globalizationthe current trends which the company had enhanced in respective of increasing sales in themarket is in respective of focusing more on customers demand and also fulfil according to theirneeds which they want in such products. In case of TESCO company they mainly focus to fulfillthe customer demands and also use various services to distract the customers interests towardsany other products.Sparrow, Brewster and Chung, (2016) criticize that by changing the ancient trend whichthe company is specialized and earn huge reputation it results in bring more instability in thecompany and also there are more chances of loss and wastages of such products and services.Also, there are chances of delay in reaching to the customer by adapting new technology whichtakes time to learn new changes and adapt new things in their regular marketing techniques.Theme 2: Positive impact of globalization on marketing function of the business organizationBendell, (2017) suggested that the positive impact of globalization in context ofmarketing is relating to bringing new designs and innovative ideas and thoughts in theirproducts. This helps TESCO company to enhance their marketing techniques and promote theirproducts in the market at large scale. Through the marketing techniques company can alsoexpand their business into different countries and also give chances to employees to improvetheir employment scale by engaging their interest through this activity.Tidd and Bessant, (2018) argued that sometimes innovation and creative in products notalways results in bringing more positive impact to company. It also results in giving chances toother companies to bring same products in market by using different techniques to attract thecustomer interest towards their services which they are offering. As also it results in morechances of hacking their designs till the company is busy in bringing more techniques to use suchdesign.2

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