(Doc) How globalisation can drive business success
Added on 2021-01-02
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Research Project
CHAPTER 1: INTRODUCTIONTopic: How globalisation can drive business success.1.1 Overview of ResearchGlobalisation is consider as historical process that help in technological advancement aswell as human innovation. Generally, it refers to developing an interaction or integration ofeconomies across globe. In business, globalisation is change from firm that is related with singlecountry to the one that can operate in several other countries. With the help of globalisation,organisation can conduct its business operations at international level and also get effectiveopportunities (Crane and Matten, 2016). As multifaceted and complex phenomenon,globalisation is regarded through some as capitalist expansion form that entails integration ofnational and local economies in to global economy. The globalisation consists services, productsand economic resources of data and capital. It has developed because of advance incommunication and transportation technology. It enhanced the global interactions that comes tothe growth of culture, international trade etc. 1.2 Background of ResearchGlobalisation is an important concept a necessary role in growth as well as success offirm at international level. The globalisation is regarded as wide term that applied to all thecommercial transaction. It is an economic procedure of integration and interaction that is relatedwith culture and social aspects. An expansion of the global market liberalise economic activitiesof exchange of money along with products. In addition to this, globalisation represents globalintegration of investment, information technology, culture and investment. The governmentpolicies are mainly design to open economies internationally and domesticity to enhance growthof poor countries along with rise their living standard. H&M is Swedish multinational clothingfirm and it is also known for fast fashion clothing for children, teenagers, women and men. Theconcept of this firm is to provide fashionable and quality clothes at reasonable cost (Moghalu,2014). Its main aim is to maximising and expanding its stores by 10 to 15% each year. In contextto globalisation, potential market of H&M is expanding and provides clothes according todemand of customers.1
1.3 Rationale of ResearchThis research is based on How globalisation can drive business success. In thisglobalisation is regarded as wide study area that plays a necessary role in developing functions ofbusiness at international level. It include wide concept that gives better knowledge base incontext to globalisation (Fulgoni, 2015). This research is conduct for study purpose and theparticular knowledge area is helpful in developing knowledge base to achieve success sin future.With the help of conducting this investigation, research skills as well as knowledge of aninvestigator will be improved.1.4 Research AimThe main aim of this research is “To determine the significance of globalisation inmaking business organization successful. A study on H&M.”1.5 Research ObjectivesTo identify the main concept of globalisation.To determine the benefits of globalisation on overall success of H&M.To evaluate the challenges faced by H&M at the time of expanding business activities atglobal level. 1.6 Research QuestionsWhat is the main concept of globalisation?What are the benefits of globalisation on overall success of H&M?What are the challenges faced by H&M at the time of expanding business activities atglobal level?CHAPTER 2: LITERATURE REVIEWConcept of globalisationAccording to Soltes and Gavurova, (2015), Globalisation states that it is a process ofenlargement in economic, social, cultural, political relationship across the globe or internationalboundaries. India's economy had gone through the significant policy shift in the year of 1990.They introduced a new model concerning the world's economy i.e. (Liberalisation, Privatisation,Globalisation)LPG. It has its own positive and negative affect on economy as it depend uponeach country. Current scenario of world is, developed economies has join with less developedeconomies because smooth functioning of trade between markets and increase in migration. One2
of the main income source of globalisation process is generating through outsourcing i.e. workcan be done from any part of the world at low labour cost which impact the countries economy.It established MNCs and increases the market potentiality. India has vast population which resultinto increasing in purchasing power. It improved the picture of under developed countries inadapting latest technology and introducing innovative products, increase in manpower,employment opportunities. But MNCs encourages only literate people for employment compareto illiterate manpower which leads to inequality. But still its importance is spreading in themarket because globalisation is a process for protecting or developing the countries economyand make them to come together with common vision i.e. building a new world as a family.Benefits of globalisation on overall success of H&MAccording to Mutoko, (2014), Globalisation is a broad concept as it has its own pros andcons, which affect the country's economy. It is a concept of interaction of markets, industriesacross the globe and improves the efficiency of country's economy and enable them to beflexible. Its main focus on gathering all markets into single platform to free flow of goods &services without no trade barriers. It Some of the benefits of globalisation are as follows:Economy's expansion: Growth in per capita income, GDP and FDI (Foreign DirectInvestment). It increases the employment opportunity due to establishment of MNCs incountries. This is the main reason that company can easily expand their businessactivities at global level and also attain higher success. Technology: It enables the industry or markets to acquire technologies and manufactureinnovative products to satisfy customer's demand. It Rises the competition betweenmarkets which develops the capability or efficiency of companies to stand firmly in anindustry.Low labour cost: Globalisation main outcome source is outsourcing which meansgetting work done from other countries at low labour cost. It provides the employmentopportunities and improves the purchasing power of an individuals. Quality of products: Because of rises in competition among markets it gives morechallenges to companies to manufacture qualitative products in order to fulfilling thedemand of end users. This will directly contribute in enhancing the brand image of thecompany and at the same time also aid in building strong customers base. 3
Economic indicators: Globalisation improves various economic index of LDC (lessdeveloped countries) such as improvement in literacy rate, life expectancy, employmentetc. It directly contribute in increasing the profitability level of the company. The mainreason behind this is that if income level of the customers is best than they easilyconsume company products and services. Flexibility: Globalisation mainly focus on trading across the boundaries which meansadapting the cultures of other countries. It makes them more flexible. This will help inreducing the gap between two countries which provide huge opportunities to businessorganization in operating activities successfully. Challenges faced by H&M at the time of expanding business activities at global levelAccording to Blowfield and Murray, (2014),Globalisation is familiarised term in currentworld, as it is considered as the foremost tool for the growth of company. It creates opportunityand provide platforms to improve and identify the talents and skills of an organisation. In simpleterms it is the exchange of goods and services between countries with no trade hindrances. Nocommunities and societies can isolated themselves from the force of globalisation. It impactedpositively in many areas at the same time it created unfair practices between smaller and largercompanies. Some of the challenges of globalisation which markets are facing are as follows:Organisational Structure: Each company has their own corporate structure whichmanages and runs all the activities smoothly. But globalisation becomes a hurdle to H&M whenit come to the point of following globalised operations which affect the employee's work in orderto adapt the new system.Leadership : It is another obstacle for company to get an effective leader who can mangeand handle the managerial functions in new region or geography. It may impact the employees ofH&M morale and relationships with managers.Cultural Affect: While being globalised, companies have to consider culture, trend,tradition of each countries. H&M face this kind of issues while expanding its business to anothercountries in adapting their culture and traditions.Polluting the environment: MNCs has established factories, industries which generateharmful gases and it is adversely affecting the human health and ecosystem. In recent reportH&M has been blamed for producing harmful gas i.e. viscose (toxic gas)which is polluting theenvironment and also a threat for human's health. 4
CHAPTER 3: RESEARCH METHODOLOGY Research methodology is one of the important section of whole research as it helpinvestigator at the time of collecting data and information by using different methods. In this,researcher needs to select appropriate method to gather data in effective manner which can helpthem in taking right decision towards the research objectives. With the assistance of this,investigator can easily draw a valid conclusion (Haidt, 2016). In this context, there are someeffective methods that can be used by research maker with the aim of analysing as well asevaluating the actual conclusion of research. 3.1 Research philosophyThis method is also play a significant role in which phenomenon data is collected in orderto analyse as well as evaluate effectively. Mainly, it includes views and opinion of differentauthors who has experience in particular area. By this they can easily provide appropriateinformation to researcher. It help in gathering accurate information towards the specific area andtopic as well. It includes two type of research philosophies such as Interpretivism and Positivism.Interpretivism: It is an effective aspect of undertaking research which is based in thehuman nature and how they behave in social environment. In this context, researcher usequalitative methods to collect as well as analysis collected data in order to take right decisionwithin the research. Positivism: This type of method used by investigator with the purpose of evaluating,determining, measuring data in systematic way. As a results, it help research in providingimportant information about the selected topic. From these method, researcher use Interpretivism method as it help in providing relevantdata and discussion towards the research topic. 3.2 Research approachesThis section is one of the important in research which help investigator to analyseaccurate information towards the research topic. Mainly, it is based on the assumption relatedwith collection of data. Along with this, it is also provide better direction to researcher in order toanalyse the whole information towards the specified topic (Detomasi, 2015). By this, researcherca easily take right decision. Under this, there are two type of research approach such as5
inductive and deductive. Both are important for gathering accurate information about researchactivities. Inductive research approach: This type of method is related with the qualitative researchwhich provide direction to investigator to evaluating the overall scope of the research whichdirectly contribute in drawing valid conclusion (Taneja, Sewell and Odom, 2015). With theassistance of this, entire research activities can be done in systematic manner. Deductive research approach: It is also an important approach which is related toformulating a hypothesis that based on existing theories in order to draw an accurate conclusion.Mainly, this type of approach is used with the purpose of design research accurate and best aswell. This will help in gathering relevant information. It is based on the quantitative approachthrough which research maker can evaluate logical conclusion that directly contribute in makingsuccessful research. For current research, investigator will use inductive research approach because it providebetter direction to investigator to carry out research activities in systematic manner. 3.3 Types of investigationIt is an exploratory method which used by investigator with the aim of taking research inappropriate and right direction that aid in improving the chances of gathering relevant datatowards the research topic. In this context, there are two type of investigation such as qualitativeand quantitative research. Both methods are play a vital role in developing as well as analysingthe information in order to draw a valid conclusion. Qualitative method: It is one of the effective way of gathering data about the researchtopic. In this information are measured on the basis of theoretical way which provide support toresearcher to take right decision. With the use of this method, investigator gather in-depthinformation towards the selected topic. Quantitative method: This is also play a significant role in research while gatheringrelevant data. Mainly, it is related with positivist paradigm which used by researcher forconverting information in numerical form (Kowalski, 2014). By this investigator can easilyevaluate the end outcomes and also increase the chances of attaining positive results. For carry out the research activities, investigator will use qualitative research methodsbecause it give theoretical framework to the investigator towards the particular topic. With thehelp of this, researcher maker can easily increase knowledge about the research topic. 6
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