Managing a successful business - Zara Assignment
Added on 2021-02-20
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Managing a successful businessreport
Table of ContentsINTRODUCTION (125)..................................................................................................................1PART 1............................................................................................................................................1A) Aims and objectives....................................................................................................................1A1 Aims.......................................................................................................................................1A2 Objectives...............................................................................................................................1A3 Time frames...........................................................................................................................1B) Project management plan............................................................................................................2Producing a project management plan.........................................................................................2PART 2............................................................................................................................................5C) Research methodologies.............................................................................................................5C1 Quantitative research..............................................................................................................6C2 Qualitative research................................................................................................................6D) Key findings................................................................................................................................7D1 Analysis of findings...............................................................................................................7D2 CONCLUSION........................................................................................................................19D3 RECOMMENDATION...........................................................................................................19E REFLECTION & Performance review......................................................................................19REFERENCES..............................................................................................................................21
INTRODUCTIONGlobalization is a process of operating business on an international scale by interactingwith other countries people, and by exchanging technology, knowledge etc. Small, medium andlarge size businesses are being affected by globalisation as it can help them in expanding theirbusinesses. This present study is based on Zara that is a Spanish fast fashion retailer.Headquarter of this company is in Arteixo, Spain and has approximate 10,000 stores inworldwide. It is best known for apparel retailer across the world. In the context of revenue, itearns and creates $18.9 billion annually (Nucamendi-Guillén, Moreno and Mendoza, 2018). Thisresearch study is going to show about impacts of globalization and ways of creating brandawareness to target markets and increasing profitability y launching a new product in Londonfashion week by this company,PART 1A) Aims and objectivesA1 Aims“To identify factors that need to be considered by fashion firms to design, manufacture,sell and at the time of launching new summer shoes: A study on ZARA”.A2 ObjectivesTo understand the importance and concepts of globalisation.To identify issues faced by fashion firm at the time of designing and selling new summershoesTo analyses factors that can help ZARA in selling new summer shoes in marketsuccessfully and raising profit by 25% till the end of 2019.A3 Time framesResearch questionsWhat is the importance and concepts of globalisation?What are the issues faced by fashion firm at the time of designing and selling newsummer shoes?What factors are here that can help ZARA in selling new summer shoes in marketsuccessfully and raising profit by 25% till the end of 2019?1
RationaleDemand of summer shoes is increasing day by day, if companies provide comfortable andquality shoes to consumers asper their needs then it can help the firm in gaining success inmarket. Hence this study is being done so that companies can understand the factors that must beconsidered by designing and launching new shoes. The main aim of selecting this topic and thisresearch is to make people aware about new products and importance of globalization. Thisresearch can help at academic level and to researcher to understand critical impacts ofglobalisation.B) Project management planProducing a project management planProject management plan plays an important role in conducting research. It is called aneffective plan and a document that is being used by researcher to describe each and every phaseof project like planning, executing, monitoring etc. Cost: In the context of cost of project management plan, researcher require setting thecost of its plan in which it can compete the whole research (Halibozek and Kovacich, 2017). Themain aim of considering this factor and element is to carried out all activities of this research inan efficient manner. It is estimated by researcher that it requires Approximate £5000 to conductand performing all activities as globalisation is also a broad topic. Cost of the research will beapproximately £3000 and launching will be £2000.Communication: It is also called an important key factor in the process of research. It isthe way of connecting with all functions, activities and with customers for accomplishing goalsof conducting this research. For this research, scholar will make an effective use of E-mail &circulars.For communication, company focus on survey and meeting for research and E-mail forshoe launch.Quality: It is something and a standard of excellence of something. It is important formaking this research successful to gather authenticate and reliable informations. It can have apositive impact on the performance and goals of the company which it wants to achieve. It is alsoimportant for researcher to maintain quality of data and interpretation.For maintaining quality,company will use benchmarking & researcher will use KPI (Kerzner, 2017).Resources: It includes all those things that requires completing this research. It isimportant for researcher to use adequate and effective resources for the main aim of making the2
research effective and error less. For this particular research, scholar includes several resourceslike laptop, stationery items, storage devices etc. Risk: It present everywhere and it is important for ZARA and researcher to analyse allfactors and risk assessment for making this research of launching a new product successful. Totake competitive advantages and for earning profit it is essential to analyse risk of theft of data,security and other. By making an effective plan, company and scholar can make themselves ableto remove all risks.Governmental regulation, theft of dat are some risks involve in this research(Lientz, and Rea, 2016).Task ModeTask NameDurationStartFinishPredecessorsAuto ScheduledMaking an effective plan 6 daysMon 6/3/19Mon 6/10/19Auto ScheduledDefining a target market 5 daysTue 6/11/19Mon 6/17/191Auto ScheduledForecasting sales volume/market research 5 daysTue 6/18/19Mon 6/24/192Auto ScheduledStudy of competitive market 5 daysTue 6/25/19Mon 7/1/192,3Auto ScheduledDesign some items and facilities 5 daysTue 7/2/19Mon 7/8/194Auto ScheduledSelection of the best designby discussing others 5 daysTue 7/9/19Mon 7/15/194,5Auto ScheduledIdentifying internal and external factors 5 daysTue 7/16/19Mon 7/22/196Auto ScheduledMaking a budget and cost 5 daysTue 7/23/19Mon 7/29/197Auto Scheduledlaunch of new product 5 daysTue 7/30/19Mon 8/5/197,83
Figure 1Gantt ChartWork breakdownActivitiesWeek1Week2Week3Week2Week2Week2Week2Week2Week2Week2Week2IdentifytopicTo makeaims andobjectivesDefininga targetmarketMarketresearchIdentification ofcompetitive marketMakessamplesanddesignsomeproductsLaunchnewproductRecommendation4
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