New Product Development: Challenges of Globalisation
Added on 2021-01-02
26 Pages5173 Words142 Views
MANAGING ASUCCESSFUL BUSINESSPROJECT
Table of ContentsTopic : .............................................................................................................................................3To identify The Impact of Globalisation On new product development : A Study On Zara.3INTRODUCTION...........................................................................................................................3Background of the research ..................................................................................................3Aims and Objectives ..............................................................................................................3Rationale of Research ............................................................................................................4Project Management Plan ......................................................................................................4..........................................................................................................................................................9RESEARCH METHODOLOGIES...............................................................................................10Findings and Discussion ...............................................................................................................12RECOMMENDATIONS ..............................................................................................................21REFLECTION ..............................................................................................................................22CONCLUSION .............................................................................................................................23REFERENCES .............................................................................................................................24
Topic : To identify The Impact of Globalisation On new product development : A Study On ZaraINTRODUCTIONGlobalisation is the process of geographic dispersion of organisation operations. It is aprocess in which economies are becoming increasingly integrated and inter- dependent. With thehelp of globalisation companies are able to trade across borders. The research will include theaims and objectives for the research. This research will include the research methodology for thepresent research. Moreover, it will include finding and discussion through use of themes andquestionnaire. Also, It will provide recommendation to company on the basis of finding anddiscussion and them after will include the reflection for the research. Background of the research Globalisation refers to entering the international market for trading which helps inpromoting sense of cultural awareness. The researcher has selected the said topic due to increasein globalisation which has helped various companies to grow their market. With the help of
globalisation, Zara is able to provide its products in different country and can increase market forshoes. Zara is a fashion company which design and manufacture products. In the presentresearch, The researcher will identify the impact of globalisation on the development of newproduct by Zara to sell the product in the launch event during London fashion week. It providesclothing for men, women and children (Sain and Khurana, 2015). This company is having 7475stores around the globe. The organisation with the help of Globalisation is able to provide itsproducts in all over the regions. Globalisation helps the company in free trade with other countryto gain more market share. Zara is going to Create and market a brand of new summer shoe togive tough competition to the existing branding the shoe products. Zara has gain a great marketshare in the clothing sector and now it's going to develop a new product to create a shoe marketthrough helps of globalisation (Gangotra and Shankar, 2016). The new product developmentwill help the organisation in attracting more customers towards firm. Zara will enhance itsprofitability by developing a new product and offering them in different countries throughglobalisation to give tough competition to other brands in international market. Aims and Objectives Aim :To determine the impact of globalisation on new product development in context of ZaraResearch Objectives :To articulate the concept of globalisation for the new product development To identify the benefits of globalisation on new product development of Zara.To analyse the challenges faced by Zara in new product development.To provide recommendation to Zara for Successful Launch of New product.Research questions What is the Concept of Globalisation for the new product development ?What are the benefits of Globalisation on new product development by Zara?What are the challenges that will be faced by Zara in new product development?What are the recommendation to Zara for Successful Launch of new product?Rationale of Research The present research is about the impact of globalisation on development of new product.The research for this research is that it is helpful in for advancement of skills and knowledge.The reason for selecting this topic is that globalisation provide various advantages to companies
such as free trade, understanding about new market and technology etc (Pinto and Patanakul,2017). Another reason for selecting this topic is that will benefit company in new productdevelopment and it will outreach the rivals.Project Management Plan Project management plan is required for managing the project execution. The projectManagement plan covers the following aspects :Cost : The study will incur cost for identifying the information through market research.Moreover, the cost will be incurred to gather data from various sources to determine theeffectiveness of project (Taran, Goduscheit and Boer, 2015). Zara for development ofnew product will incur cost on transportation, materials, marketing and promotion, labourcost etc. The cost that will be incur by researcher will be of £50000.Scope : This project will help in increasing awareness among people regarding conceptand advantages of globalisation. The project will be effective to provide assistance toother researcher (Hass, 2017). This project will be so relevant that will provide easyaccess to information regarding the impact of globalisation on developing a new product.This project will help the researcher for their further researcher studies. Moreover, theindustry will be benefited by this research as it will assist in identifying the impact ofglobalisation on the new product development.Time : This study will take 186 days to complete the project. For completing the projectin time its is required to manage the activities in proper order by allocating specific timeto complete the project ion time.Quality : The Study will perform its activities by maintaining the quality of the research.It will provide specific information regarding the activities covered in this study(Newton, 2016). The project will be conducted by proper maintaining the qualitystandards for making effective research study.Communication : The project will be managed by proper communication the planthrough use of social media sites and other techniques. The plan is communicated to getbetter understanding of plan and if any changes required in plan.Risk : For reducing the uncertainties and condition which may affect the project it isrequired to manage the risk which will assist in completing the project without problems.
It is important to assess the risk in order to minimize the impact of risk on project (Boyle,2017). There are risk which can affect the project such as loss of data, technical risk etc.Resources : The project for completing its various activities will require funding,equipment such as laptop etc. The resources which are used for the research also consistof human resource, financial resources and the physical resource for completing thisresearch in effective and efficient manner.Work Breakdown Structure
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