Impact of Globalization on Business

This assignment investigates the effects of globalization on businesses, focusing on its positive aspects, cultural influence, and economic contributions. The research employs a qualitative approach with inductive reasoning and non-probabilistic sampling. A questionnaire survey was conducted among Barclays employees to gather data, which is then analyzed using graphs and tables to present findings.

MANAGING A
SUCCESSFUL BUSINESS
PROJECT

TABLE OF CONTENTS
TOPIC..............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Background of the study.............................................................................................................1
Rationale.....................................................................................................................................2
AIMS & OBJECTIVES...................................................................................................................2
PROJECT MANAGEMENT PLAN...............................................................................................3
RESEARCH METHODOLOGY.....................................................................................................3
FINDINGS AND DISCUSSION.....................................................................................................6
Survey Outcomes:.......................................................................................................................8
Interpretation of survey outcomes:..............................................................................................9
RECOMMENDATIONS...............................................................................................................14
REFLECTION...............................................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

TOPIC
“To identify the positive economic, cultural and ethical impact of globalisation on
different business functions. A study on Barclays.”
INTRODUCTION
Globalisation is the term which has provided huge impact upon in terms of positive,
economic, cultural and ethical business practises (Coulibaly, Erbao and Mekongcho, 2018). It
describes the growing interdependence of the international economies, population and cultures
brought across by cross-boarders. The UK banking sector has emerged as one of the strongest
drivers of UK economic growth. These institutions are supporting major economic growth. This
support results in greater access to capital at lower cost, increase in more competition and
innovations. Therefore, researcher has selected these particular topic positive economic, cultural
and ethical impact of globalisation ion different business functions. In this project firstly, aims
and objectives will be discussed. Further, through questionnaire selected objectives will be
analysed where appropriate graph will be provided. Findings will be explained through
appropriate graphs and tables.
Background of the study
With the development of globalization, major changes have incurred with reference to
positive, negative and cultural. There is huge development in technological advancement which
provided positive impact on production activities of companies. There is huge effect on business
environment which affected lives of animals, plants and human begins, it is a negative impact
and production which developed in accordance with diversified culture is a cultural change. Its
development brought major changes in ethical practices where all the entities preparing their
financial statements with a common global language called IFRS. There is a development in
technologies, transport and communication. In business world, because of globalization, its need
for enterprises in doing struggle for survive in foreign countries get resolved. (Perez, 2017).
In this report, research study is developed with the case study of Barclays banking
institution. It is a British multinational investment bank and financial service company which has
main headquarter in London. This group also provides their services in personal banking,
corporate banking, wealth management and investment management. Therefore, with the
implementation of globalization, financial institution achieved huge growth. It is now considered
as backbone of the economy which provides major economic support for the development of
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country. Therefore, in this research paper case study of Barclays has been chosen in order
develop better understanding of globalization in business world.
Rationale
This report has been developed with the proper guidance of tutor where research has been
conducted on factor globalization which drive business success. This topic has been selected by
researcher because in order to develop better understanding of positive economic, cultural and
ethical impact on business activities because of globalization (Kinderman, 2018). This is the
term because of which economies have become increasingly integrated and inter-dependent. This
research will help in eliminating gap in writing literature and will help in improving academic
career. For example: Barclays bank has moved its business in global world with effective
strategies where they focus in increase business performance by creating faster growth in
shareholder value. Their motive is to capture customers and make space in the minds of customer
their business in globalized world got success. This strategic practice brought a positive change
in business operations of Barclays entity.
Therefore, this research will provide significant help to another researcher which are
conducting analysis on same line to topic. This will help in saving extra time and to conduct
research which is more efficient to understand. Hence, rationale has been chosen to examine
impact of globalization in terms of political, cultural and ethical praises in business environment.
AIMS & OBJECTIVES
Aim:
“To identify the positive economic, cultural and ethical impact of globalisation on
different business functions. A study on Barclays.”
Objectives:
 To articulate the concept of globalisation.
 To identify positive impact of globalisation on different business function.
 To determine the challenges faced by banking industry after globalisation.
 To give recommendations to Barclays on basis of expansion of business with reference to
global scale.
Research Question:
11 What is concept of globalisation?11 What are the positive impact of globalisation on different business function?
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11 What are the challenges faced by banking industry after globalisation?11 What are the recommendation of Barclays on basis of expansion of business with
reference to global scale?
PROJECT MANAGEMENT PLAN
Project management plan is known as formal or approved document which define
execution of project, its monitoring and control (The Project Management Plan (PMP), 2019). It
is the type of detailed summary which include baseline, subsidiary management plans and other
documents of planning. It is considered as an important aspect in order conduct research on any
topic of study. Its main elements includes standard for scope, cost and schedule, quality, risk,
communication and resources. Description of such elements for this research study is as follows-
Cost- In order to conduct authentic research, researcher must have to develop planning of
budget which will be required for conducting efficient study. Thus, in order to carry out all
activities related to research paper, there must be a proper management of costing. For carrying
research work of present report and to reach on aims and objective £5000 is required. It is
because chosen topic has many things to research and reach case study of Barclays.
Quality- research will only considered effective when there is quality of material
mentioned in it. Thus, to reach aim and objectives and to solve issues related to research, scholar
must have to provide valuable source which have authenticity and reliability.
Resources- research requires efficient resources on which scholars will relay and present
their study in more brief manner. Absence of adequate resources will result is less valuable
research. Therefore, resources like notepad, laptop, storage device, stationary items, mobile is the
necessary elements.
Risk- before conducting any type of study, researcher must have to assess risk which
helps them in to develop a proper plan. Such risks include theft of data, safety issue, injury,
illness anything which hamper work of researcher. Therefore, it is necessary that researcher must
assess risk and conduct research with proper plan and execution.
RESEARCH METHODOLOGY
It is considered as key part in order to conduct efficient research study. It refers to
discussion which regards to any specific topic which has been used to conduct research. It can be
defined as process and technique which is used to identify, selecting, processing and analyzing
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information on selected research topic. In present report, this method is developed to define
validity and reliability of work for chosen study. Its method are as follows-
Research type:
It is considered as systematic process of data collection, analysis and interpretation of
issue related to research topic. Research type are of two types that is qualitative and quantitative.
For this present study, qualitative techniques has been used by the researcher. With this method,
chosen study will be determined through non-mathematical manner (Silverman, 2016). Reason
behind selecting this method is that it helps researcher to solve research issue by adding to the
field of discipline application.
Research approach:
It includes study which involve procedure for conducting research in accordance with
broader assumptions and in detailed manner which is through data collection, analysis and
interpretation. For this present study, inductive approach has been used to evaluate impact of
globalization to drive business success. This approach do not involve analysis through
hypothesis infect this has been conducted with observation, test, pattern and theory.
Research philosophy:
It is considered as those portion of research methodology where data collected, analyzed
and used. Through this philosophy, researcher will provide clear understanding of selected study
which is with proper interpretation. For the present study, interpretivism philosophy has been
used where researcher will interpret selected elements of the study.
Data collection:
It is considered as process of collecting information which from relevant sources in order
to find effective answer regarding particular research problem. Through this method, outcomes
of the research will be efficiently evaluated. This method is divided into two parts that is primary
method and secondary method of data collection. For the present report, both methods has been
selected where sources has been obtained from books, newspaper, magazines, journals, websites
etc with secondary method. Through primary method, research study is developed through
interview, questionnaire, observation etc.
Sampling:
It is considered in terms of sample which includes group of people, objects or items
which has been obtained through large type of population in doing effective research study. This
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technique have been used to draw effective conclusion for particular type of research study
(Singh, 2018). Present study includes non- probabilistic method which indicates that respondent
can be selected from population with all members and have equal probability of selection.
Therefore, 20 respondents have been selected randomly to analyze impact of globalization which
drive business success.
Data Analysis:
It is process which include systematic applicability of statistics and techniques which
describe and illustrate research study with proper evaluation of data. In order to used qualitative
technique, in this report thematic manner data analysis is used where with appropriate theme
research study has been evaluated (Brown, 2015). This is the method which provides accurate
evaluation of data which has been gather through primary and secondary data collection.
Research Design:
It is considered as set of methods and procedures which used by researcher in order to
collect and analyze variable which has been chosen to conduct particular research study.
Research design will define the type of study which has been selected in order to evaluate
effective study (Research Design, 2019). In this report, descriptive research design has been
selected where methods like observations and survey has been used.
Ethical Consideration:
In order to develop present report in more efficient and effective way, ethical
consideration has been chosen with all due care while conducting research on globalization
which drive business success. Data, graphs and chart which presented in this research paper is
providing reliable information and is it is not fake. The dignity and confidentially have properly
been taken care off without infringement of their right to privacy and freedom (Lotto, 2018).
Further, while taking information from respondents there due permission has been taken by
giving them full information which relates to survey and research topic with valid justification.
Lastly, no biased information is presented in this report.
Validity and Reliability:
Present report is to be considered as valid because in this report no bias information has
been provided. Researcher has collected information which is reflected in research study where
appropriate methods and approaches has been selected and there is no implementation of
researchers own thoughts. Reliability of this research paper is presented by answering questions
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which relates to how, when, where, what so that a clear perspective has been build to develop
efficient market research (Maxwell, 2016). Thus, this research paper provides analysis with
proper methods to show impact of globalization to attained business success.
FINDINGS AND DISCUSSION
QUESTIONNAIRE
Name of Organisation: Barclays
Name of Respondents:
Gender: M/F
Age:
1. How long you are working in Barclays?
1 to 5 years
5 to 10 years
10 to 15 years
15 years and above
2. Do you know the actual and detailed concept of globalisation?
 Yes
 No
 Not Sure
3.Do you agree technological advancement after globalisation brings productivity in the
operations of your company?11 Strongly Agree11 Agree11 Strongly Disagree11 Disagree11 Neutral
4. Do you think that globalisation drive positive, cultural and economic impact upon business?
 Strongly Agree
 Agree
 Strongly Disagree
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 Disagree
 Neutral
5.According to you globalisation gives rise to many opportunities to the businesses to expand
and increase sales and profitability?
 True
 False
 Not Sure
6.According to you, globalisation is the result of:
 Inequalities between poor and rich countries
 Increase in demand of consumers for foreign goods
 Global competition between industries got increased
 Decrease in services and manufacturing of goods
 Other
7. According to your work experience, what are the changes occurred in business operations of
industry because of globalisation?
 Technological advancement
 Free trade barriers
 Easy import and export facility
 Increase in skilled workers
 Valuable production activities
8. What are recommendation you provide for successful launching of new product in the
market?
…..................
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Survey Outcomes:
Theme 1: Experience of working in organization
Particulars Respondents
1 to 5 years 3
5 to 10 years 4
10 to 15 years 8
15 years and above 5
Theme 2: Concept of globalization
Particulars Respondents
Yes 14
No 4
Not Sure 2
Theme 3: Technological advancement after globalisation brings productivity in the
operation
Particulars Respondents
Strongly agree 7
agree 3
Strongly disagree 4
Disagree 4
Neutral 2
Theme 4: globalisation drive positive, cultural and economic impact upon business
Particulars Respondents
Strongly agree 6
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agree 5
Strongly disagree 2
Disagree 4
Neutral 3
Theme 5: Globalisation gives rise to many opportunities to the businesses to expand
and increase sales and profitability
Particulars Respondents
TRUE 16
FALSE 3
Not sure 1
Theme 6: Result of globalization
Particulars Respondents
Inequalities between poor and rich countries 3
Increase in demand of consumers for foreign
goods
4
Global competition between industries got
increased
8
Decrease in services and manufacturing of
goods
3
Other 2
Theme 7: Changes occurred in business operations of industry because of
globalisation
Particulars Respondents
9

Technological advancement 7
Free trade barriers 4
Easy import and export facility 3
Increase in skilled workers 3
Valuable production activities 2
Interpretation of survey outcomes:
Theme 1: Experience of working in organization
Work experience always plays an important role whether it is to share something about
the industry or to answer for a particular survey of the researcher. From the above graph, it is
analyzed that out of 20, 40% of employees have experience of 10 to 15 years and 25% has
experience of 15 year and above, which means that Barclays bank organization keeps satisfies
employees needs in order to develop long term establishment.
Theme 2: Concept of globalization
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Globalization considered as process of interaction and integration between people,
companies and government across the world. It is analyzed from above graph that out of 20
employees of Barclays, 16 has said yes that they know about the term globalization. Reason
being is that there are majority of employees which have more experience of working by which
they know about practices required to perform in multi-national companies.
Theme 3: Technological advancement after globalization brings productivity in the
operation
Technological progress now increases living standards of people as well as production
activities of entities. Therefore, it can be measured from above graph that out of 20, 7 employees
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strongly agrees that technological advancement increases after implementation of globalization.
Among it 4 employees not in favor because they consider that more responsibility has been
increases with its implementation.
Theme 4: globalization drive positive, cultural and economic impact upon business
It is true that globalization is the factor which able to drive positive, cultural and
economic impact upon businesses. Implementation of global economic process brought a
tremendous advancement of technologies in industries. Therefore, it is analyzed from above
graph that 30% employees of Barclays strongly agrees that it drive business success, also there
are 20% employees which not in favor. Reason being is that it heavily provides impact upon
business environment and also cause fluctuation in price which directly impact upon economic
activities of the company.
Theme 5: Globalization gives rise to many opportunities to the businesses to expand and
increase sales and profitability
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Strongly agree agree Strongly disagree Disagree Neutral
0
1
2
3
4
5
6
6
5
2
4
3
Column B

With the implementation of globalization, many opportunities have been developed for
organizations which want to expand their business at global level. Free trade and barrier and
foreign investment policy is one the main factor which improves sales and profitability which
provides an positive impact upon businesses. Therefore, it is measured from above graph that out
of 20 employees of Barclays, 16 are in majority that it improve sales and profitability. Reason
being that adoption of new technologies creates easy process in production activities by which
consumers expectations get fulfilled.
Theme 6: Result of globalization
Globalization in countries took place because of all the factor which are included in
survey. Therefore, it can be analyzed from graph that out of 20 employees of Barclays, 40% are
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in favor that it is a result of increased global competition between industries. Different
employees have different views in this graph which shows that all mentioned reasons are the
result of globalization.
Theme 7: Changes occurred in business operations of industry because of globalization
It is true that after the implementation of globalization, there are many changes which can
be seen in business operations of entities across the world. More alternative products now
generated to capture the consumer needs. Therefore, it is analyzed from graph that out of 20
employees of Barclays, 7 are in favor that there is huge increase in technological advancement.
Reason being is that it provides more skilled workers now for operating business functions.
Conclusion and findings:
It can be measured through above mentioned data analysis and interpretation that
majority of employees of Barclays are in favor that globalization is the factor which drive
positive, economic and cultural impact upon businesses. Employees which working under this
organization has lot more experience of working because of which they have knowledge of
business operations which get expanded with implementation of globalization. Many employees
agree that its execution brought huge technological advancement by which develop fast and
smooth business operations to fulfills customer needs.
RECOMMENDATIONS
It can be recommend to Barclays organization by doing research study on globalization
that in order to set up efficiency in business operations across worldwide, institution have
various type of opportunities to capture from market. In order to grow demand company could be
consider to improve effectiveness of VSAT network which helps in enhancing transponder
capabilities. In order to deal with transaction, computerization transaction is another opportunity
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in this globalized world. Data warehousing, data mining and management information system is
the another opportunity for bank in order to develop feasible methodology in working. Re-
engineering is the another term which might be chosen by Barclays organization so that by
effective review of areas of operations, entity will able adopt new technologies which helps in
developing automation in business operations. Globalization is the tool which has expanded
technologies worldwide, therefore, by adopting the latest technologies, entity will able to provide
fast way of work so that each and every customer issue related to deposit, transfer and adding of
money get easily solved.
REFLECTION
The present paper is developed to provide lights on impact of globalization in context
with positive, economic and cultural on businesses. Globalization develops huge changes in
production activities of businesses where more technologies are available for operating smooth
business operations across the world. Therefore, in order to present efficient research paper I
have developed research of this study in very attractive manner. Firstly, in this paper I have
provides introduction of the research paper where study of background as well as rationale is
provided where I am able to develop my understanding of writing research paper. This could
help me in improving my academic career in the future. Further, in this research paper I have
selected research topic that to identify the importance of globalization which drive business
success where I have selected case study of Barclays bank organization, because it is an
institution which always play important role in driving economic growth and progress in
countries where its business is established. With this case study my knowledge on organization's
strategies to improve their business functions get increases.
Further, I have developed primary and secondary objectives of this paper where I have
selected some topics related to globalization so that effective research study will get developed.
This research writing helps me in developing my personality in accordance with effective
researcher where I my understanding in writing and presenting research work get improved. I
will able to get valuable suggestions with proper validation in research work so that my work
will help existing researchers to conduct study on same line. Moreover, in this report, I have also
provided details on data interpretation and analysis where with the use of questionnaire and
graphs I will able to develop study which is more presentable and provide accurate information.
Interpretation writing helps me in developing knowledge of observing graphs and charts and to
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find information with its analysis. All these activities helps me in becoming a good at academic
research writing where I will able to collect as many references as possible in my research area, I
will able to review best papers so that effective study will get developed.
CONCLUSION
From the above research paper, it can be concluded that Globalization has provided
tremendous growth in business world because of which there is smooth development of business
operations across the nation. In this report, research study has been conducted on impact of
globalization in terms of positive, cultural and economical to attained business success.
Therefore, in this report project management plan has been developed in order to reach aims and
objectives of research study. Further, for conducting effective research qualitative technique has
been used with inductive approach and non-probabilistic sampling so that biased study will not
be presented. Moreover, survey has been conducted through questionnaire which is has been
asked with employees of Barclays so that efficient finding get developed by providing evaluation
with graphs and tables.
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REFERENCES
Books and Journals
Brown, J.D., 2015. Characteristics of sound quantitative research. SHIKEN. p.24.
Coulibaly, S.K., Erbao, C. and Mekongcho, T.M., 2018. Economic globalization,
entrepreneurship, and development. Technological Forecasting and Social Change. 127.
pp.271-280.
Kinderman, D., 2018. Corporations and global standards of corporate social responsibility.
In Handbook of the International Political Economy of the Corporation. Edward Elgar
Publishing.
Lotto, R., 2018. Postgraduate students’ perception of research ethics training: a qualitative
study. Innovations in Practice. 12(2). pp.24-33.
Maxwell, J.A., 2016. The Validity and Reliability of Research: A Realist Perspective. The
BERA/SAGE Handbook of Educational Research. 116.
Perez, J.R., 2017. Global Leadership and the Impact of Globalization. Journal of Leadership,
Accountability and Ethics. 14(3). pp.48-52.
Silverman, D. ed., 2016. Qualitative research. Sage.
Online
Research Design. 2019. [Online]. Available through <https://research-methodology.net/research-
methodology/research-design/>
Singh, S., 2018. Sampling Techniques. [Online]. Available through
<https://towardsdatascience.com/sampling-techniques-a4e34111d808>
The Project Management Plan (PMP). 2019. [Online]. Available through
<http://2020projectmanagement.com/resources/project-documentation/the-project-
management-plan-pmp>
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