Importance of Globalization on Economic Development of Nation

Research Proposal

Table of Contents
INTRODUCTION...........................................................................................................................1
P1 Aims and Objectives...............................................................................................................1
P2 Appropriate research method.................................................................................................8
TASK 2..........................................................................................................................................10
P3 Primary and secondary research using appropriate method.................................................10
P4 Data Analysis........................................................................................................................12
TASK 3..........................................................................................................................................21
P5 Communicate research outcome...........................................................................................21
TASK 4..........................................................................................................................................22
P6 Reflection.............................................................................................................................22
P7 Alternative Methods.............................................................................................................22
Conclusion.....................................................................................................................................22

INTRODUCTION
Globalisation in recent times has played a crucial role and has primarily focussed on the
enhancing the economy of company and ultimately nation. It has opened doors and provided
firms with opportunities in exchanging some of the actions like culture, technology, trends etc.,
thus, in simple terms globalisation means broadening the range of areas towards national and
international market (Sassen, 2016). It can be said that, globalisation has served opportunities
into a platter for most of the companies which aid them in expanding their business at different
levels and with better services as well. This research project is based on TESCO Company which
is one of the leading companies in United Kingdom and providing excellent services and
facilities to its customers. Firm is not only famous in UK but because of globalisation it is
operating its business worldwide.
In addition to this, for knowing the effectiveness of globalisation this research is being
conducted. For this, aims and objectives will be formulated and this will moreover supported by
a literature review. As a result, it will assist researcher in making effective research and making
it unique as well. Other than this, appropriate tools and techniques such as data collection
process, different approaches etc., are included in this report so that the same can be done in an
effective manner. Lastly, with the help of data and information collected effective outcomes is
generated so that it can further be justified whether the findings are appropriate or not.
P1 Aims and Objectives
Background of research
Globalisation refers to the interrelationship of nations with the medium of trade and resources in
order to exchange them. It can be said that globalisation leads to growth of economies at
international level in order to increase profitability of the organisations. It has been analysed that
Globalisation also contributes in satisfying needs and wants of the customers at international
level. It also generates huge number of opportunities for large organisation as well as small scale
companies. These opportunities are in the form of covering new market, interacting with
international clients etc (Cohn, 2016). As a result, it contributes in enhancing profitability of the
companies which also increases economic growth of the country. This research project is based
on TESCO, which is among renowned British Multinational retailer headquartered in England,
United Kingdom. The company is offering its products and services at international level which
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includes grocery products, books, electronic, financial services, internet services, clothing, toys,
software etc. TESCO is one among the leading company that organization its products and
services to large range of customers across the world. This organisation is already dealing in the
international market but they aims to execute their business operations more effectively. Their
main objective of the company is to expand their business across the global platform by
capturing the minds of domestic as well as foreign customers. In order to expand its business at
international level effectively the company have conducted an effective research which will help
them in understanding importance and benefits of globalisation (Intriligator, 2017). This research
will instruct company about various trends, challenges, issues of globalisation that impacts over
the growth of the company as well as economic development of nation both. In this regard,
overall research is conducted in effective manner for enhancing understanding of globalisation
for growth of company.
Aim
“To determine importance of globalization on economic development of nation” A case study on
TESCO
Objectives
 To determine concept of globalization
 To evaluate impact of globalization on economy development
 To examine the main issue of globalization
 To identify the relationship between globalization and economic development of nation
Research Questions
 What is concept of globalization?
 What is the impact of globalization on economy?
 What are the main issue of globalization?
Literature review
Concept of Globalisation
According to the author’s point of view Lim and Tsutsui, s(2012). It can be said that,
globalisation refers to the process which reflects interrelationship of different factors beyond the
international boundaries. Concept of globalisation occurs with the thought of considering whole
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world as a single market where all organisation are interdependent on each other who produces
same thing, consuming similar products and often reacting to the changes in the same manner. In
other words, it can be said that globalisation can also be consider as the integration of society,
business organisation, economies over the flow of information, technologies, finance, people,
products, services, capital and ideas. The discussed is very vast and includes lots of people in
showing its effectiveness. As per evaluation, it has been observed that with the help of
globalisation organisation can easily perform their business activities easily as they can connect
to their desired company in order to use their services for business growth.
Apart from this, it can be said that this concept helps business organisation in increasing
its profitability by acquiring certain kind of facility which are available at market place in all
over the world (Lenzen, M., and et. al., (2012) In relation to TESCO, the company basically
dealing owning finest supermarket at global level. It can be said that with the help of global
trade, TESCO have not only increased its demand for good products at market place of different
nation but it also contributed to them in gaining amount of profits. Along with this, globalisation
also makes business operation more smoother as they acquire desired required resources from
other countries too on the basis of their requirement. TESCO, is using advance technology in
order to operate their effectively and efficiently. As it can be said that with the help of
technology this company can easily communicate to its customer and understand their
requirement which can be fulfilled by them properly. It can be said that as the company is
dealing at global level. Therefore, it is better for them to take regular basis feedback from
customers in order to identify their changing need. This helps the company in availing new
products in their stores as per the need of the customers.
Globalisation also helps organisation in reducing their extra expenses of organisation. For
example, TESCO is operating is stores across the world, so the company requires bulk of
manpower which can perform their work effectively. With the help of globalisation this company
can hire its own new staff in the operating country only as it helps them reducing their cost
which is being spent on employees. In addition to this, TESCO also deals in some
underdeveloped country where desired technology is not available. Therefore, the company can
also take its advanced technology to the underdeveloped country for executing its business
operation effectively. As it not simplifies the work of their employees who are working their but
it also contribute in the development of that country too.
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Impact of globalisation on economy
As per the thought of author Lingard, (2013)it has been analysed that Globalisation is
beneficial for the overall development of the country as it impact positively over the growth of
the product too. It works as a positive element for organisation which contributes in enhancing
growth opportunity for the working company along with the economic development. It has been
analysed that with the changing it becomes easier as well as tougher for the companies perform
their business activities beyond national boundaries. As the government has increased number of
rules and regulation for business organisation in order to stop non beneficial and unethical
business activities at international level. On the other hand, globalisation has raised income level
of the company which is directly contributing in the economic development of the world. Hence,
it can be said that globalisation is somehow impacting positively in the growth of economy as
well as every individual who is related to the business operation. It has been observed that those
organisations who are operating their business activities at international level represent their
thought towards globalisation positively. As it contributes in raise of the economy and
development of the country too. For example: TESCO is owning its stores in different nations at
global level, in which they offer variety of products and services to the customers. This enhances
their figures of sales as well as revenue too. This directly contributes in increasing economy of
the country. Along with this, it also raises number of job opportunity in operating and increasing
employment rate it can be said that country can easily acquire huge amount of money with the
same in order to improve their economical condition of the country too. Impact of globalisation
is beneficial for the world as well as operating companies. Some of the benefits of globalisation
are elaborated as below in order to understand it properly.
Easy transferring of workforce: Globalisation has increased number of work force
which is important for the companies to perform their business activities in a effective manner.
It can be said that after initiation of globalisation migration of workforce has became easier and
also helps business organisation to enhance their productivity with the finest workforce. It also
increases number of opportunity for underdeveloped countries as their workforce is getting
opportunity to work in other countries for fulfilling their basic needs of themselves as well as
family. On the other hand, it is helpful for organisations too for example: If TESCO has entered
into a well developed country whose employment scale is high even for the unskilled labours
too. Then the company can hire required work force from those nation whose workers can be
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