Topic:The benefits and drawbacks of a global business environment. INTRODUCTION Overview of Research Globalisationisexplainedasprocedurebywhichworldisbecomingenhancing interconnectedness as outcome of enhance trade and cultural exchange. It is a greater movement of products, ideas, people and capital because of increased economic integration that in turn is prompt through maximised trade as well as investment (Alejandra Gonzalez-Perez,2013). The globalisation has enhanced production of the products and services. Background of Research Globalisation is ongoing procedure that linking people, regions, cities, neighbourhood etc. more closer together. It is process of developing as well as expanding service, technology and business all through world. It is a kind of expansion of different businesses to global markets in all over the world. It needs more international investment in order to develop the large multinational organisation for worldwide economic integration. Virgin Atlantic is trading name of Virgin Atlantic Airways Limited (Appel, Franz and Hassler, 2014). This company uses mixed fleet of Boeing wide-body aircraft and Airbus and it also operates to the destinations in Asia, Middle East, Caribbean etc. On the other hand, firm also globalise its business operations in some of the other countries. Other than this, in globalisation, firm face some advantages and drawbacks which will aid them in conducting business at global level in a successful manner. Rationale of Research The majorreason behind choosing the research topic is to analyse affect of globalisation onthebusinessoperationsofVirginAtlanticandvariousbenefitsanddrawbacksof globalisation. Itis biggest concept that aids a researcher to increase their knowledge regarding specific topic. Along with this, thisinvestigation will also supporta researcher through enhancing its literature review skill, data analyse and interpretation skill also (Axelrod and VanDeveer, 2014). All these kinds of skills will support a researcher in completing each activities of study successfully and systematically. In context to personal, the research skills, data collection skills of a learner will be enhanced in a better manner. Through this, it can able to gain the better understanding related to particular research area. In terms of professional, knowledge base and the research capabilities of a learner will be increased. 4
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Research Aim Main aim of this investigation is“To ascertain the benefits and drawbacks of globalisation upon business functions”. A case study on Virgin Atlantic. Research Objectives To understand factors which are covered under concept of globalisation. To identify minimum 2 benefits of globalisation on business functions of Virgin Atlantic. To ascertain drawbacks of globalisation on businesses functions of airline company. To examine and determine the relationship between globalisation and its influence over business functions. Recommend various ways by which Virgin Atlantic can overcome from drawbacks of globalisation in an easy manner. 1.6 Research Questions What are differentfactors which are covered under globalisation concept? What are minimum 2 benefits of globalisation on business functions of Virgin Atlantic ? What are drawbacks of globalisation on businesses functions of airline firm? What is relationship between globalisation and its influence over business functions? What are various ways by which Virgin Atlantic can easily get over drawbacks of globalisation? 1.7 Timescale 5
6
7
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
LITERATURE REVIEW Factors which are covered under the concept of globalisation On the basis of Will Kenton, 2018 globalisation has began as enhancing economic cooperation among nations at the regional level. In this, Economic cooperation among countries was result of accumulation of the capital through leading firms operating in national market. Procedure of globalisation consists elimination of the fiscal limitations as well as barriers on movementofhumanresource,products,commoditiesandcapital.Enhancingeconomic cooperation among nations is stimulated growth of the multinational organisations which operate business.Globalisationhasdifferentfactorswhichcontributetowardsitforaninstance technological change, containerisation, less protectionism, variations in tax system etc. These all factors give their positive contribution in globalisation.On the other hand, economic contribution is better for the developed nations because they have capital, well capable or qualified employees and advance technology which are main key factors which contributing to competitive benefit of firms in global market. As per view point of John Williamson 2019, it has been stated that globalization is manifested in success of world trade as a dimension of output (the ratio of global imports to GWP (gross world product), has increased from some 7% in 1938 to around 10% in 1970 to over 18% in 1996). Benefits of globalisation on business functions of Virgin Atlantic According to view point ofTejvan Pettinger,2017 it has been consider that globalisation haschangecompetitivemarketplacebyprovidingthedifferentbenefits.Itcangivethe tremendous opportunities for an economic development to make improvement in quality of life for the several people.Under this, there are various business functions of Virgin Atlantic consisting research and development, human resource management, finance, marketing, IT, operation and many other. Benefits of globalisation given below: Enhanced creativity and innovation- Under this, global competition can be encourage innovation and creativity that aids company to retain one step than competitors. It drive towards cost and quality that can make improvement in products and also keep cost minimum. Free movement of capital and labour means that the ideas from Virgin Atlantic can be drive innovation in all over world. 8
Foreign Direct Investment-Inthis, Foreign Direct Investment tends to increase more than development in world trade, help in enhancing technology transfer, development of the global firms restructuring of industries. Drawbacks of globalisation on businesses functions of airline company According to Vidya Sethy, 2018globalisation is process of the international integration arising from interchange of ideas, views, products and also some other cultural aspects.The major drawbacks of globalisation for company is improper laws and regulations. It highly as well as negatively influences on functions and operations of company directly. Drawbacks of globalisation on Virgin Atlantic given below: Job mobility-Under this, globalisation develops the negative impact on production jobs on ships. The low skilled employees which lose manufacturing jobs face some complexities in finding the new jobs and compensated work. Job loss develops double- strain on countries which have the social welfare systems. Trade Imbalances- The global trade has developed but more trade imbalances. In some of the countries, there is a big trade surplus and these kinds of imbalances developing pressures as well as tensions in order to introduce the protectionist policies for an instance new form of the import control. Loss of cultural identity-While the globalisation has made international culture easier to be access then it has started to be meld the culture together. In addition to this, success of the culture throughout world have to be caused the other countries for simulate culture and lifestyles. When the culture starts to lose its distinctive features, then it can lose its global diversity. Relationship between globalisation and its influence over business functions According to viewpoint of KUEPPER, 2018 it has been stated that Globalisation is necessary as well as significant process for airline sector in order to gain the better outcomes within set period of time. It will help company through help them to enhance their sales and also profitfor makeimprovementincustomer basewithin predeterminedtime duration.The globalisation provides benefits to business by providing them better opportunities. Through globalisation, firm can target the new market place and provide them better quality of services and products through determining their needs and demands. In Virgin Atlantic, there are many functions which working like human resource, research and development, marketing, operations etc. If Virgin Atlantic conduct business operations of business at the global level then in this case 9
marketing department need to create better marketing strategies for attract the large number of consumers at global level. Company need to provide training to those employees which give their contribution in the business operations. With the help of this, staff members of Virgin Atlantic can able to communicate with international clients and provide them better experience. Various ways by which Virgin Atlantic can get over from drawbacks of globalisation Ad per opinion of Angel Gurría, 2019 it has been stated that Virgin Atlantic face the different issues in business. In order to overcome from the drawbacks, there are various ways to overcome mention below: Adopt better communication channels- Communication is one of the most effective way to developing the relationship among employees, customers and managers. It is necessary for Virgin Atlantic to adopt better communication channels which aid in attract the large number of tourists and also gain the positive outcomes within given period of time. Follow all rules and ethics-The ethics as well as rules should be followed through Virgin Atlantic while conducting the business at global level. In this, manager needs to follow the ethics and conducting activities in an ethical and systematic manner. It will be necessary for future development as well as success with in given period of time. 10
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
CHAPTER 3: RESEARCH METHODOLOGY Type of Investigation It refers process mainly used to collect data and information for motive of making effective business decisions. There are two various kinds of research methods for an instance Quantitative and Qualitative (Bailey andet al., 2018). This investigation report is based on Qualitative investigation methods because it aids in give detailed description regarding specific research area.The main reason behind using this methodology is that it gives the better and detailed information regarding the particular area in an effective manner. Its main focus on the less on metrics that can be in the place. The strengths and weaknesses of qualitative research method StrengthsWeaknesses It aids in provide the better quality of information regarding particular aware. It gives an in- depth information on the individual cases. It is time consuming. In this, interpretation of the results is normallybiasedbecausethisis influencedthroughperspectiveof investigators. Research Philosophy It refers to set of beliefs about methods through which information and data can be gathered, analysed and then used. Interpretivism and positivism are two various kinds of research philosophies (Baud and Durand, 2012). In this investigation, interpretivism research philosophy has been used because it provides proper analysis or description about opinions of authors.The reason behind using this philosophy is that it integrates the human interest in to study. The strengths and weaknesses of interpretivism philosophy StrengthsWeaknesses It is subjective in nature. It helps in develop the rapport with participants. It has low reliability. Sometimes this research philosophy is not generalise. 11
Research Approaches Research approach is explained as plan and process that consists steps of broader assumptions to detailed methods of data collection, analysis and interpretation. There various kinds of investigation methods and these are deductive and inductive (Belás and et. al., 2014). This report is based in inductive approach because it provides the briefly description related to particular area.This research approach gas been mainly used in execution of analysing the available information and the data that consists facts and the figures. The strengths and weaknesses of inductive research approach StrengthsWeaknesses It establish the probability. Itaidsinconsiderableanextentin developing the scientific outlook. This process is more time consuming. Sometimestheobservationsare incorrect and get the bad conclusion. Research Design It is defined as overall strategy that select to incorporate various study components in logical manner (Beuving, 2013). Experimental, exploratory and descriptive are various types of the research design. This investigation is considered descriptive research design because it gives proper description regarding particular subject.The descriptive research design helps in explain the characteristics of phenomenon that is being studied. This research design aids in gives better opportunities to primer the qualitative to reconstruct. Strengths and weaknesses of Descriptive research design: StrengthsWeaknesses It helps in in-depth analysis. It provides the rich data that gathered in the large amount. Theconfidentiallycanbemain problem. Outcomes are not the unrepeatable. Data Collection This isprocedure of collection and also analysing information on basis of some variables. This is integral and important component of any research process in any field of study.It is further categorised as primary and secondary data. The data collection method choice isbased 12
on research problem (Carneiro and Brenes, 2014). The secondary research methods has been used in conducting literature review part. On the other hand, to collect data from primary investigation researcher use survey.It is a study of sampling of people from population that is related techniques of survey data collection. For gathering data by survey, researcher use questionnaire.This method is useful because it is helpful in explaining characteristics of large size population. It is helpful in draw the better conclusion and also take necessary decisions. Strengths and weaknesses of Primary data collection method: StrengthsWeaknesses It helps in address the issues. Itaidsintheefficientspendingfor information. Highcostinvolvedinprimary information. It gives an inaccurate information. Sampling Sampling refers to subset that comprise of the characteristics of large size population. It is mainly used to sample from large size population that is based on type of the analysis that is being to be performed (Cavusgil and Knight, 2015). There are two different kinds of sampling methods non- probability and probability. Under this investigation, random data sampling in probability method has been used to select the respondents. There are 30 respondents chosen through researcher and these are employees of company. Ethical consideration These considerations are very important part of every research. Ethics can be defined as norms or standards that distinguishes between right and wrong (Cohen and Kietzmann, 2014). It helps in determining the difference between acceptable and unacceptable behaviours. 13
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
DATA ANALYSIS AND INTERPRETATION Knowledge about globalisation concept Q.1.Doyouhaveanyidearegarding phenomenon of globalistaion? Frequency Yes20 No5 Interpretation:Under this, there are 20 respondents which said that they have knowledge globalisation in better way. There are 5 respondents which are not aware about globalisation. Globalisation assist firm in expanding the operations of business and activities globally Q.2.Doesglobalisationassistfirmin expanding the operations of business and activities globally? Frequency Agree21 Disagree4 14 YesNo 0 2 4 6 8 10 12 14 16 18 20 20 5 Column B
Interpretation:According to the 21 respondents, globalisation help company in expansion of the business at global level. There are 4 respondents which disagree with mention statement. Benefits of globalisation while spreading business functions Q.3. What are globalisation benefits while spreading business functions globally ? Frequency Increasing employment opportunities15 Faster transmission of technology10 15 AgreeDisagree 0 5 10 15 20 25 21 4 Column B
Interpretation:On the basis of 15 respondents, main benefit of globalisationis to maximising employment opportunities. If an organisation will conduct its operations sat global level then in this case it can provide better job opportunities to employees. 10 respondents said that Faster transmission of technology is major benefit of globalisation to business functions. Reason behind performing the business functions at global level Q4Whataremainreasonbehind conductingbusinessfunctionsatglobal level? Frequency Increasing sales10 Maximising customer base10 Improving productivity5 16 Increasing employment opportunities Faster transmission of technology 0 2 4 6 8 10 12 14 1615 10 Column B
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Interpretation:As per opinion of 10 respondents that company expand its business for the purpose of enhancing sales. There are 10 respondents and they said that through globalise business, firm can enhance its customers base. According to 5 respondents, major reason behind expanding business functions and operations globally to make improvement in productivity of business. Drawbacks of globalisation during expanding operations Q.5. What are drawbacks of globalisation duringexpandingbusinessoperationsat global market area ? Frequency Cultural difference12 Changes in technology13 17 Increasing sales Maximising customer base Improving productivity 0 1 2 3 4 5 6 7 8 9 10 1010 5 Column B
Interpretation:12 respondents said that drawback of globalisation in expanding business is culture different because each country culture is varied from the each other. According to 13 respondents changes in the technology is main concern for business. Globalisation help company in increasing growth Q.6.Globalisationhelpcompanyin increasinggrowthaswellasincomeat market place ? Frequency Yes18 No7 18 Cultural differenceChanges in technology 11.4 11.6 11.8 12 12.2 12.4 12.6 12.8 13 12 13 Column B
Interpretation:As per view point of 18 respondents that globalisation helps to firm to enhancing income level as well as development at marketplace. 7 respondents are disagree with given statement. Globalisation gain the attention of more consumers Q.7. Can globalisation gain the attention of moreconsumerstowardsVirginAtlantic services and products ? Frequency Agree20 Disagree5 19 YesNo 0 2 4 6 8 10 12 14 16 18 18 7Column B
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Interpretation:On the basis of 20 respondents that through globalisation Virgin Atlantic can gain the attention of more customers. 5 respondents said that they are disagree with given statement. Different ways by which they can easily acquire more number of buyers Q.8. What are various methods by which they can acquire more number of buyers ? Frequency By providing quality of products10 Using different communication channels10 Others5 20 AgreeDisagree 0 2 4 6 8 10 12 14 16 18 20 20 5 Column B
Interpretation:According to viewpoint of 10 respondents that through providing better quality of products. It will help in attract more consumers towards market. 10 respondents said that by using the various communication channels, company can connect with people. As per opinion of 5 respondents that there are some other ways by which firm can acquire large number of consumers in an easy manner. Routes through which company can enter in the emerging market Q.9.Whataredifferentroutesthrough which company can enter in the emerging market place ? Frequency Franchising8 Joint Venture12 Licensing5 21 By providing quality of products Using different communication channels Others 0 1 2 3 4 5 6 7 8 9 10 1010 5 Column B
Interpretation:According to 8 respondents, franchising is an effective way through which firm can enter in emerging market. There are 12 respondents and according to them it is a better strategy because there are two different firms working together for attain particular area. According to 5 respondents, licensing is a better strategy. Enhancing business sales by providing variety of products and services Q.10.DoesglobalisationassistVirgin Atlanticinenhancingbusinesssalesby providing variety of goods to consumers ? Frequency Yes22 No3 22 FranchisingJoint VentureLicensing 0 2 4 6 8 10 12 8 12 5Column B
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Interpretation:22 respondents said that globalisation helps for Virgin Atlantic company to increase its business sales through offering them variety of services and products to consumers. 3 respondents are not agree with this given statement. Globalisation develop its affect on operations and functions of business globally Q.11. In what way, globalisation develop its impactonoperationsandfunctionsof business globally? Frequency Positive20 Negative5 23 YesNo 0 5 10 15 20 2522 3 Column B
Interpretation:According to given analysis, it has been interpret that globalisation develop negative and positive impact on business. 20 respondents said that globalisation develops impact onthebusinessfunctionsandoperationsinapositivemanneratinternationallevel.5 respondents said that globalisation develops negative impact on the business. Globalisation aid Virgin Atlantic in reaching with higher growth Q.12. Do you think globalisation aid Virgin Atlantic in reaching with higher growth and success globally ? Frequency Agree19 Disagree6 24 PositiveNegative 0 2 4 6 8 10 12 14 16 18 20 20 5 Column B
Interpretation:There are 19 respondents and they said that globalisation helps Virgin Atlantic company to enhance growth of business and also reach at the global level. Globalisation directly impact on company's growth Q.13. Does globalisation directly impact on company's growth and profitability level ? Frequency Yes15 No10 25 AgreeDisagree 0 2 4 6 8 10 12 14 16 18 20 19 6 Column B
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Interpretation:On the basis of 15 respondents that globalisation impact directly on the profit level as well as development of business. 10 respondents said that they are not agree with given statement. Ways through which Virgin Atlantic can easily manage Q.14. What are different methods by which Virgin Atlantic can manage drawbacks of globalisation on growth of business easily? Frequency Following rules and regulations of country10 Providing training to employees10 Using different promotional channels5 26 YesNo 0 2 4 6 8 10 12 14 1615 10 Column B
Interpretation:10 respondents said that firm follows the rules as well as regulations of country for manage any kind of drawbacks on growth of business. Thee are 10 respondents and according to them company provides the training to employees so they can able to perform at global level. 5 respondents are agree with use of various promotional channels. 27 0 2 4 6 8 10 1010 5 Column B
28
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
CONCLUSION REFLECTION AND RECOMMENDATION Reflection Thisresearchreportistakenintoconsiderationonbenefitsanddrawbacksof globalisation in an organisation. I conducted this investigation by following all the ethical considerations as well as regulations properly. I followed all the guidelines while conducting an investigation. On the other hand, I was able to perform all the research activities with in specified period of time. To collect relevant data and information concerned with particular subject, the survey method has been used in data collection collection by developing a questionnaire on which various questions are mentioned to particular research area. I followed all the guidelines and ethical considerations while conducting an investigation. I have learnt techniques by which an in- depth analysis of accumulated information and data can be collected. In this, I learnt the various ways through which the information can be conducted in proper manner. This given research report is consistse qualitative analysis that help me in provide the detailed information and give different range of the valuable insights. Recommendations There are some recommendations mention below as above: It has been recommend that Virgin Atlantic should follow all ethical considerations while conducting business at international level. Company should conduct investigation about requirements as well as demands of consumers, existing rivals etc. before conducting business globally. It is important for Virgin Atlantic to provide training to its employees so that they can able to communicate with international clients in a better manner. 38
ALTERNATIVE RESERACH METHODOLOGY Alternative Research Methodology Researchmethodologyismainpartofaninvestigation.Inthiscurrentresearch, questionnaire methodology has been used through researcher. Under this, different questions has been developed by investigator to get opinion and view points of various researcher on specific area. Interviewisan alternativemethodologycanbeused byresearcher. Ininterview, interviewer asks some questions from interviewee about the particular research field. It helps in gain the better opinion of interviewee in detailed manner. The main benefit of using interview as an alternative methodology is that it helps in provide in- depth data as well as information related to particular area. The limitations of current methodology i.e. Questionnaire are given below: Respondents can give the dishonest answers. There is lack of the personalisation. It is not effective in getting the in- depth information and data. CONCLUSION From mention report, it has been interpret that the globalisation is a wider concept that help company to conduct business globally. Under given report discussed about the benefits and drawbacks of globalisation in detailed manner. The organisation use different strategies to expand business internationally. To perform the business operations at global level, Virgin Atlantic develops the effective strategies and policies in a better manner. In this report has been studied about the different drawback which Virgin Atlantic face at global level for an instance lack of mobility, cultural difference, language difference and many others. Globalisation gives advantages and disadvantages to the business. The aim and objectives has been developed in a proper manner related to specific subject area. Literature review part considered opinions and view points of authors on globalisation. There has been secondary and primary method used for gathering data and information in detailed manner. 39
40
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser