Managing Successful Business Project Marks and Spencer
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Added on 2020-10-05
Managing Successful Business Project Marks and Spencer
Added on 2020-10-05
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Managing successfulbusiness project
Table of ContentsINTRODUCTION ..........................................................................................................................3Aims and objectives of the project .............................................................................................3A project management plan .......................................................................................................4Research .....................................................................................................................................4Findings and conclusion ...........................................................................................................12Reflection .................................................................................................................................19Recommendations ....................................................................................................................20CONCLUSION ............................................................................................................................20REFERENCES..............................................................................................................................21
INTRODUCTION Globalisation is defined as the integration of different markets where trading takes placebetween different countries (Ahmed Dine Rabeh, Jimenez-Jimenez, and Martínez-Costa, 2013).Globalisation can take place in different markets like financial markets, credit markets,commodity markets such as oil, tin, gold, coffee market, consumer electronics, motor vehicles.Globalisation increases the potential of a company to be successful and make profits. There aresome key implications of globalisation for business includes the increase in trade across bordersof services and goods. Globalisation has led to an increase in competition and financial andeconomic shift from developing economies to the emerging economies. The company consideredin the following report id Marks and Spencer , which is a major British multinational retailerwhich has headquarters in Westminster, London. Marks and Spencer was founded by MichaelMarks and Thomas Spencer in the year 1884. The main aim and objective of this report is toknow how multinational companies impact the business environment of the host destination likea region, country or city. The following report consists of project management plan that includesactions for meeting the goals and objectives of the company in given time. A research isconducted for analysing this topic and conclusions and recommendations are made for theorganisation.Background of the study Marks and Spencer is a multinational company and it is involved in selling of clothes,home products and luxury food products. This company was founded by the partnership betweenThomas Spencer and Michael Marks. This company has got great success in global expansion.The first Asian store of Marks and Spencer was opened in Kabul, Afghanistan in the year 1960.As a multinational company, Marks and Spencer provides a critical financial infrastructure foreconomic and social development in a developing country (Crane and Matten, 2016). So thiscompany has to handle many consequences while operating globally. Aims and objectives of the project AIM The aim of the project is “To analyse the impact of multinational organisations onbusiness environment of Germany”. A case study on Marks and Spencer.OBJECTIVES
To analyse the importance of multinational organisation for a country.To identify the influence of multinational companies on business environment ofGermany. To examine the barriers which could be faced by Marks and Spencer while expandingbusiness among different nations. A project management plan Research Research PlanProject Title“To analyse the impact of multinational organisationson business environment of Germany”. A case studyon Marks and Spencer.Project PlanCompany Name:Marks and Spencer A Project management plan is defined as a formal orapproved document that helps a company in managingand controlling it's project activities. It is important fororganisations to prepare a project development planthat includes every important information associatedwith the development plan. This plan providesinformation related to time of project, risk, estimatedcost, scope of project, etc. In the context of Marks andSpencer, a proper project management plan will helpMarks and Spencer in taking effective decisions forproject ( (Den Hertog, Van der Aa, and De Jong,2010)). This plan is useful in analysing the impact ofmultinational organisations on business environment ofGermany. The development of a project managementplan involves different aspects which are describedbelow:
CostCost estimates the amount which is needed for doingvarious business activities. While conducting aresearch, the company has evaluated an amount of20,000. The expansion of business in Germany wasvery expensive as Marks and Spencer has to build it'smarket share in Germany (Eckerson, 2010). Severalmarketing campaigns and offers were conducted therefor making a good image of products of M&S in frontof customers of Germany. ScopeScope determines the opportunities related to project infuture or long run. The project must have a huge scopefor the company then only it will be beneficial. Incontext of Marks and Spencer, This organisation willbe able to know the affect it is causing to the market ofGermany and what are the different opportunities toattract customers in that area. The company will beable to give more proper services and goods tocustomers and following all regulations of othercountry by analysing the impact of multinationalcompany on a host country. The managers of Marksand Spencer will be able to analyse their growthopportunities in market of other countries whileconducting the research. TimeIt is an important factor of any project and it helps inidentifying time taken to complete business activities.This project is about multinational company's impacton host countries (Gebauer, Edvardsson, and Bjurko,2010). It will take around six months to accomplishthis project. In context of Marks and Spencer, theproject will take 60 days for completing all the tasksand activities of the project in specified time. For making a research successful all process must be
Qualityimplemented in a proper way. Therefore, with the helpof this research, investigator will get to know aboutimpact and affects of a multinational company on thebusiness environment of other countries in which it isoperating. CommunicationCommunication is an essential factor while conductingany research in an effective manner. The companycommunicates whole plan to staff members as it willprovide in identifying the pros and cons that impactsuccess of a project. A better and good communicationprovides encouragement to exchange ideas and views.A project can be succeded in an effcetive manner ifthere is a good communication between members. Forinstance, an investigator can use effcetivecommunication and coordination for accomplishing theproject activities in a proper way. Also, interactionwith respondents becomes effcetive. This will helpMarks and Spencer in communicating with differenthost companies to implement appropriate policies foroperating business. RiskMultinational companies are benefited when theyexpand their business at global level (Incelli, 2013).On the other hand, there are some risk factors whichare there while operating in other countries. Theexpansion of business in markets of developedeconomies is beneficial for the company but on theother hand, the market expansion in poor economies isnot much profitable for business. In context of Marksand Spencer, the company is operating in severaldeveloped as well as developing countries and earningsprofits. Whereas in relation with the researcher,interacting with respondents can be one major risk
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