Research Project (Accounting & Finance Pathway)

Research Project
(Accounting &
Finance Pathway)
Proposal Form.
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Contents
Contents...........................................................................................................................................2
TITLE..............................................................................................................................................4
CHAPTER 1: INTRODUCTION....................................................................................................4
CHAPTER 2: LITERATURE REVIEW.........................................................................................7
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................12
CHAPTER 4: DATA ANALYSIS................................................................................................15
CHAPTER 5: REFLECTION AND RECOMMENDATION......................................................31
CONCLUSION..............................................................................................................................33
REFRENCES.................................................................................................................................34
APPENDIX....................................................................................................................................37
2

TITLE
“To examine and determine the impact of Globalisation of Financial services in
accounting and finance Pathway”.
CHAPTER 1: INTRODUCTION
Overview of Research
In the present business scenario, the concepts of globalisation is defined as the free
movement of products, services and other useful thing from one country to another in specific
manner to improve the living standard of people (Ayers and Odegaard, 2017). In recent time, the
process of globalisation have totally changed the social group, economic situation, learning that
support to increase the proficiency and profitability in specific time frame. Globalisation can be
thought to be an outcome of opening of global economy and the incidental to increase in
business among two nations. Furthermore, it is also means that various counties use to liberalize
their import protocols and welcome several FDI in different sectors that are helpful for growth
and development of economy. In today's era, with increasing trends of globalisation it is also
observed that banking, foreign exchange, equities, insurance services and bonds or other
financial services are also provided to different customer with the help of increasingly global
marketplace. Globalisation could be seen as the procedure of beginning and bringing up of
national economies and market to a wider context and create an international transaction
according to the nation of particular company. In this project, nationwide Building society is
selected which is a seventh largest financial institution and known as the biggest building
company in world (Berry, Broadbent and Otley, 2016). The main motive of company is top
globalise its operations and attain growth in wider context to improve proficiency and
profitability. The complete research contain the detail study of globalisation impact on financial
services that help to globalise business in better manner.
Background of Research
In business term, globalisation is a wider scenario, which is related with spread of
technology, information, jobs, products and culture from one nation to another as is consider to
be an interdependence of different countries in entire world which support in free trade. It plays
an essential role in developing economies and success of international business that occupies a
larger area of market that support medium and large companies to operate business in better
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manner. Financial services and international market are increasing at fast pace at global level
resulting in economic volatility, growth, imbalances and grater depended on market fluctuations.
As companies are expanding business at fast pace in global level it help to raise the living
standard underdeveloped countries as it provide number of beneficial opportunities such Job
growth, modernization and also support in improving quality of goods and services. Nationwide
building Society is leading British financial intuition and largest building company in world. The
company is situated in London having its headquarter in Swindon and crucial administration
offices are located in Bournemouth, Glasgow and Northampton. There are large numbers of
financial services provided by company in order to meet the financial needs of customer.
Different financial services product is saving and current accounts, mortgages, Firiza, credit
cards loans and investments (Bovaird and Löffler, 2015). In order to satisfy their existing
customer NBS used to hold a regular feedback session for their customer in which they
encourage get valuable suggestion about their product and services that support in making
improvement. Thus, it is stated that NBS provide useful financial services both directly and
indirectly through its 700 branches all over U.K.
Rational of Research
The respective research is based on the affectivity of globalisation and its influence on
developing a particular business. Globalisation belong to a wider concepts that gives the better
understanding of handling business in different nations so that business can be operated in
meaningful manner. The investigator conduct the analyse for self-purpose that help in improving
knowledge and developing skills and ability to attain future growth and success. It is because, in
this era of globalisation, the main point for different financial institution of particular country to
survive and attain success is to bound meaningful relationship with other financial organisation
that help them to gain the competitive advantage and provide more variety of services to large
number of customer (Brorström, 2015). Therefore in recent and competitive business situation,
the potential concern of each size of business concern is to expand their organisational operations
at global level in order to attaining potential success and competitive edge within the commercial
centre.
Research Aim
The main part of any research is defining the aim that should be clear and concise that
helps to make valuable judgements for the benefit of economy. The particular aim of the above
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specific research is “To analyse the impact of globalisation on financial services”. A case study
on NBS Nationwide Building Society.
Research Objective
In this particular section of research investigator use to analyse and set the objective so
that overall research can be completed in right manner for maximum results. The objective
pretend by the researcher is closely linked with particular aim and help to ascertain the variable
in various useful research statements (Brown, Nuberg and Llewellyn, 2017). The specific
objectives of this research of Globalisation of financial objective are defined underneath:
 To analyse the concept and importance of Globalisation.
 To identify the impact of globalisation on financial services.
 To identify various ways through which NBS can globalise their financial services
 To analyse benefits of globalisation in the context of banking industry especially in NBS.
 To evaluate challenges of globalisation in the context of banking industry especially in
NBS.
Research Question
In research, those entire question that are helpful in conducting inquiry and around which
the centre of research take place. These questions must be clear, focused, concise, complex and
arguable that helps to avoid the “all-about” paper and work for the benefit of particular arguable
thesis. This help to better execute the literature review and are linked with objective. Some
research questions are defined below:
 What is crucial significance of Globalisation?
 How Globalisation impact on financial services?
 What are different ways that can help NBS to globalise their financial services?
 What are various advantages of globalisation to NBS?
 How globalisation can bring challenges in the context of banking industry?
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CHAPTER 2: LITERATURE REVIEW
A literature review is defined as a evaluation and authentic research of the provided and
available research on a specific topic that help to make meaningful knowledge about research. It
is considered both an explanation and summary of complete knowledge on a particular topic that
are relatively ascertained from books and journals articles (Brown and Dillard, 2015). It is
termed as the secondary area of research that help to found information on a specific topic from
books, newspapers, online sites etc. There is a specific purpose of writing literature review such
as it deliver appropriate access to conduct research on a specific topic by choosing highly
authentic and relevant articles so that important, valid and summarize information to make one
single report can be ascertained. It also provide a constructive examine of various method,
approaches and methodologies of other researchers. Literature review helps to provide hint that
help to determine the key finding and develop areas for better results.
To analyse the concept and importance of Globalisation.
According to Nicolas A Pologeorgis, the concept of globalisation is consider to be a main
reason for survival and growth of any financial institution to attain desired goals within a specific
time frame. It helps in improving the quality of banking and financial services and provides a
variety of option for customer so that they can make meaningful choices as per their requirement.
In recent time, the changes in financial are being intensified by a wave of corporate restructuring,
risk behaviour, development in banking and stable securitisation trend helps to increase the
economy of world. It is a process that based on international strategies, policies, main goals to
increase business activities at global level that was precipitated by the facilitation of global
communication due to technological advancement. Political and social developments. The major
importance of globalisation is to deliver financial institution an emerging competitive position
with lower operating cost so that more number of customer, product and services. The procedure
of globalisation have made-up the way for entering into innovative and developed financial
services and product within country (Caputo and Evangelista, 2018). There are various
importance of globalisation on financial sectors of UK that have initiated various steps to reform
the financial industry. Thus, it is stated that bringing diversification within the banking sources is
the key business strategy that help to increase the variety of different product and services within
different operating financial firms. Therefore, it is observed that globalised business operations
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are valuable for the development and growth at a wider scale so that business can be expanded
and managed in better way. In present business position rivalry among commercial enterprise are
progressively broad and the potential motive of every business organisation to reaching at the
potential competitive position through expanding their organisational functions at wide scale.
To identify the impact of globalisation on financial services.
According to Jayeoba Olajumoke, (2010) the procedure of interaction and integration of
different companies and people from all over the nation with the help of valuable trade and
investments. Thus it is very crucial for companies to make and publish their financial
information in a particular manner such as reliable, accessible, timely, comparable,
understandable and reliable so that authentic information can be extracted by responsible
persons. It is observed that all these qualities of financial information can be attained by adopting
major components of globalisation on financial services in developing and presenting financial
reports. In wider business context the term globalisation describe the entire integration of various
economies and societies by proper flow of useful information, technologies, goods, capital,
ideas, finance and people. In the recent time, the growth of globalisation was primarily led by the
technological factors in the different fields that led to expand business in better manner
(Crispeels, Willems and Brugman, 2015). As there are large number of financial institution and
banking companies that use to provide valuable services to customer in order to satisfy their
needs and attain the competitive advantage. Thus the globalisations help these companies to
expand business in those nations where few banking sectors were ruling and providing services
at favourable cost. Thus, entire banking industry have undergone restructuring phase in recent
year in order to meet the needs of global market and make suitable development. The
consequence of overseas banks on revenues and expenses in host country are also hypothetically
arguable. On the one side, foreign bank existence strength to advanced profitability as these
banks have technological advantage which is fairly strong and these regularly globally famous
banks tendency to have minor costs of growing funds and resources.
To identify various ways through which NBS can globalise their financial services
As per the opinion of Ty Morse, Globalisation has been
regarded as talking business into foreign market that is not an easy task for any company either
large, small or start-ups. There are many components that are needed by the manager of
respective company while expanding business overseas. According to him, organisation are
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required to strictly analyse the market trends, deal with technological in better manner that help
to connect easily with large number of audience, develop strong relation with communities and
make meaningful conversation with various useful sources of business in order to operate
profitable business in international market (Dellaportas, 2015). As the Nationwide Building
society is doing well in domestic market and consider to be one of the leading financial
institution of nation, thus it is also important for them to follow best suitable pathway while
expanding its financial services and products across different countries. The main advantages can
be significant because company not only expanding its market, but evolving more contacts,
replacing old ideas and visualising new occasions for growth and developments. In order to get
started existing business in foreign market company make use of these ways:
Create Joint venture: The way to develop business in other countries is to make a tie up
with leading companies of that nation so that survival can be sustain for longer period with
desired results. It is the responsibility of manager to uncovered established international
companies with similar operation so that they can work together to introduce new company.
When two companies come in joint venture it is very important that they listen each other ideas,
thoughts and desire for mutual profitability and growth. As NBS is planning to operate business
in other county like India then they must make a connection with leading bank of country so that
their product can easily get popular among customer. They don’t have to make any investments
on infrastructure, employees and premises as they are already developed and the main focus is to
grow business (Demarest. and Gehrt, 2015).
Develop local leadership: It is observed that different international market work
differently and every nation has its own obligations, beliefs, language and interest of business. It
is very much essential for manager to choose local leader from that particular nation where they
desire to expand business. Local leader help companies to suggest the way of doing business and
provide goods that are mostly in demand of customer. In context of NBS, it is crucial to find the
best local leader in country they are expanding business so that benefits of their products and
services can be easily communicated to local people.
To analyse benefits of globalisation in the context of banking industry especially in NBS.
According to Anthony Giddens, the concept of globalisation is discussed as the growth of
the useful social relation in overseas market in which relation places located at extended distance
in such a method that actions that happen nearby are understood with the context of other
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companies operating business in local country. Thus, it is crucial that banking company must
initially create as financial institutions with a great grade of speciality and banks make sure to
expand their business activities. This was eventually required trend by the international
economic environment in which banks changed and expected to cover the funding needs of
people in several geographical ranges and businesses (Dickherber, Morris and Grodzinski, 2015).
Therefore it is observed that international banking might donate to faster development and
constancy in two significant means: first, by creating accessible and much needed wealth,
knowledge and new technologies which sort national monetary systems to additional
competition. On the other side it also benefits by allowing risk-sharing and modification, thus
smoothing out outcome of national peoples. It is
also stated that globalisation have been considered as the much needed aspect for banking sectors
that have completely change the working manner of whole industry. Company are now more
focused to have good brand image, increased customer base and attain profit. Globalisations
have made huge impact on the growth and success of. Some possible influences are related are
discussed below:
Increase Customer base: Globalisation help companies to expand their valuable
products in market, it also one of the major benefits from customer points of view as they get
variety of option to make choices from large product available in market. As NBS provides
various banking facilities, globalisation help them to take their business in different reign helping
customer to make more appropriate choices. Thus, delivering more valuable services to local and
international customer would be beneficial for NBS to increase customer base and attain the
desired results.
Increasing brand awareness: The probable effect of globalisation especially for
nationwide building society is that of growing brand awareness, though actual globalised
business activities aids company in evolving its product image within new market place. This
also creates worth in delivering high competitive advantages because of unique and additional
benefits (Eagly, 2016).
To evaluate challenges of globalisation in the context of banking industry especially in
NBS.
As per the comments of Roser Ferrer, (2018), with the benefits of globalisation such as
increase of international trade, distribution and utilisation of capital in more efficient manner
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there are major drawbacks too. These challenges are needed to be bring in consideration by the
manager as it will reduces the overall productivity and profitability of any financial intuition.
Globalisation basically involves growth of national institution in overseas market, seeking
services, activities of foreign firm in various economy, global movement of monetary sources
and authentic connection among office and firms. Some of the basic problems or challenges
faced by NBS while expanding business are:
It is not easy for a new company in existing market of other nation to manage financial network
and global bank because they have complex structure (Feng, Cummings and Tweedie, 2017).
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CHAPTER 3: RESEARCH METHODOLOGY
As per the research context this is considered as the key part of investigation function as it helps
the Research in giving proper manner to execute the investigation exercises in right way.
Research procedure mentions as a composed, deliberation assessment of the various tools and
methods that are utilized to a chose area of work (Fiorentino, RipA and Ulgiati, 2017). It for the
most part contains as a preoccupied Research of the erection of various strategies and standards
which are related with a subdivision of comprehension and learning. This piece of the Research
depends on various applications that are successful in helping the general exercises deliberate
way.
Research types: A Research work depends on a subject and the significant obligation of the
specialist is too overwhelmed with the investigation issue through aggregation of different
information and data. An exploration depends on two unique sorts one is quantitative and
another qualitative research strategy. In the current Research bit of work quantitative device has
been utilized, in this manner it is the best hotspot for making fitting outcomes through directing
detail analysis of significant topic. These are discussed below:
Quantitative research: It mainly includes numerical, mathematics numbers, non-
descriptive and an iterative method by which useful evidence is evaluated. It helps to disclose the
following results in tabular format so that they are conclusive and understandable and support to
make meaningful decision in relevant topic.
Qualitative research: As the name suggest this method is descriptive, non-numerical
and applies reasoning and words to get the detail description about the research topic and helps
to make authentic decision for better results.
Approach for Research: This is altogether connected component of Research system, along with
this there are two kind of conceptualization that are rely upon the sort of Research. Such as
deductive and inductive Research approach (Gasparatos and Willis, 2015). The deductive
methodology depends on making new or progress speculations that sustenance the theory and on
the other side inductive methodology information has been cumulative by the execution of an
adequate estimation on accessible information with realities or assumption that are going with
the specific topic. In this current Research work, inductive research approach has been connected
by the Researcher and nu using qualitative measures best suitable results are made for making
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better decision. This methodology helps in making reliable and exact data for do Research tasks
in fitting way.
Philosophy of Research: It is defined as the most beneficial and crucial components of analysing
a Research report, that aid investigators to better execute their research plan in order to get the
suitable possible outcome. Research philosophy is characterized in two different sections which
are interpretivism and positivism (Giraudy, 2015). In the context of current exploration work,
researcher are more focused on interpretivism Research methods that support in interpreting
qualitative report that further helpful in analysing the collective data in various aspects.
Data Collection Tools: It is the key part of any Research work as the general tasks depend on
information and data that are amassed during investigations. For conducting Research work, two
essential sorts of information gathering devices like primary and secondary data collection
sources are available. In the current Research report, both sources primary and secondary devices
are utilized in the report to justify the issue with genuine information and data. In this manner
primary apparatus is captivating in directing a study with the assistance of authentic set of
question. Anyway questionnaire is viewed as the most proper source of essential information
accumulation with undeniable figures and facts (Green. and Newman, 2017). On the opposite
side, auxiliary instruments like books, diaries and paper, past research venture, articles and so
forth are successful in execution of literature review through the fitting help of writers'
perspective. Appropriate executions of these two instruments are viable for making substantial or
dependable result for the exploration.
Data sampling: This can be assessed as the technique for sampling that underlines on
selecting the example that repeat from the genuine public and population. It depends on
investigator to either choose probabilistic or non-probabilistic inspecting devices. In the current
investigation work, Research will be conducted with the help of purposive inspecting procedure
therefore it is fundamental for them to decision befitting example of population. In this
respective company worker are selected as the example of 40 respondents those are having huge
learning and thought regarding the activities of the firm.
Ethical Consideration: Problems and Clashes can emerges in any circumstance, for organization
of any work clashes and issues looked by the Research and for this it is fundamental for a
Research to assemble some goals designs in regard to defeat with them (Goldthau, 2016). The
scientist performs most basic capacity in each Research work by amassing of dependable and
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legitimate information and data with the assistance of various sources or angles. The potential
commitment of the scientist is to help the private information secret. Manufacture a Research
structure in which all exercises can be executed in suitable manner. Among the study will
likewise guarantee their respondents about not soliciting any sort from individual data that harms
their feeling to make meaningful decision. It is likewise required for the Research to consider
time and cost as their key viewpoints in light of the fact that these are additionally should be
overseen in regard to fulfilment of the exploration work in proper way
Time Scale: It is related with actual time taken for completing an event or research program
so that accurate results are made befitting the organisational situation and circumstances. In
general term, the length of period within which positive actions happen or are scheduled to
occur measured in relative to any broader period of time.
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CHAPTER 4: DATA ANALYSIS
In business scenario, the method of calculating and evaluating of appropriate data with the help
of different logical and analytical tools and reason that support in better analysis of all aspects of
collected data is known as data analysis (Hansenand Coenen, 2015). It is observed that data for a
specific topic is used to be collected, cross checked and analysed in order to make a particular
solution or conclusion. In order to complete the process of data analysis there are various useful
methods such as data mining, text analysis, data visualization and business intelligence that help
to extract the best result relevant to a particular topic. This piece of the research is deliberated to
be the most needed aspect that indicates the outcome and results of the project in proper manner.
The concept of data analysis is crucial for the present research because it contain several phases
that help to draw valid outcomes. These stages are data cleaning, quality analysis, measurement
of quality, stability of results, use of important statistical methods and proper knowledge
representations.
Q.1 Do you know about the concept of globalisation of financial
services?
Frequency
Know 30
Do not know 10
Q2. Is globalisation of financial services is beneficial or not? Frequency
Yes 25
No 15
Q3. What benefits are achieved by the NBS company through
globalisation of the business?
Frequency
Higher profitability 15
Competitive advantage 10
Addition of new customers 15
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Q4. Is expansion of financial services at the global level is important
for development of the company?
Frequency
Yes 10
No 12
Neutral 18
Q5. What types of financial challenges are faced by the NBS company
in the implementation of the financial services at the global level?
Frequency
Lack of financial resources 15
Different country's taxes and regulations 8
Tax issues 17
Q6. Which aspect forced NBS company to adopt the implementation
of financial services at the global?
Frequency
Profitability 25
Expansion of financial services 10
Other 5
Q7. Is marketing strategies impact the globalisation of financial
services?
Frequency
Yes 30
No 5
Neutral 5
Q8. Is globalisation of financial services help the company in the
promotion of company's services?
Frequency
Yes 35
No 5
15

Q9. Is globalisation of financial services help to the NBS company in
increasing the goodwill?
Frequency
Yes 25
No 10
Neutral 5
Q10. Does use of business strategy is beneficial in the globalisation of
financial services?
Frequency
Yes 25
No 15
Q11. Which business strategy is beneficial to company for
globalisation of financial services?
Frequency
Global strategy 22
Transnational strategy 8
Multinational corporation 10
Q12. Is company is needed to change the strategy for globalisation of
financial services?
Frequency
Yes 15
No 25
Q13. Does globalisation of financial services beneficial for customers? Frequency
Yes 30
No 10
Q14. What are the need of using business strategy for implementation
of financial services at global level?
Frequency
Increase market area 12
Minimising the risk 28
Q15. Is company is needed any other way except from globalisation of Frequency
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financial services for spreading the financial services?
Yes 28
No 12
Theme 1: People awareness about the concept of globalisation of financial services.
Q.1 Do you know about the concept of globalisation of financial
services?
Frequency
Know 30
Do not know 10
0
5
10
15
20
25
30
Know
Do not know
Interpretation: From the above graphical presentation it has been ascertained that 30 out of the
40 respondent which were chosen from company knows the concept of globalisation of financial
services. At the same time other employees are not familiar with the topic and concept of
globalisation on financial services (Ide, 2017). Thus, it is crucial for the internal manager to
make valuable plan and execute them in proper manner so that remaining team member must be
familiar with the concept of globalisation. In general globalisation financial services support
company to have proper knowledge about the rules and policies of other countries in which they
are willing to globalise their financial services.
Theme 2: Importance of globalisation for financial services
Q2. Is globalisation of financial services is beneficial or not? Frequency
Yes 25
No 15
17

0
5
10
15
20
25
Yes
No
Interpretation: The above question were asked from the 40 respondent working within
company itself to determine whether they are in favour of globalisation or not. Thus from the
above result it has been determined that most of the employees around 25 are in favour of
globalisation on financial services is a major benefit for company helping them to increase their
business and establishing new branches in different part of worlds. But at the same time 15
worker of respective company have different feeling they thought that it will be one of the major
drawback as globalisation means publishing their tactics and policies to attract more number of
customer due to which their unique plans can be steel. Member also have a fear that establishing
a business in new country can lead to big losses as there are already domestic companies which
provide beneficial services to customer and it will not easy task to withdraw customer interest.
Theme 3: Several benefit of globalising business
Q3. What benefits are achieved by the NBS company through
globalisation of the business?
Frequency
Higher profitability 15
Competitive advantage 10
Addition of new customers 15
18

0
2
4
6
8
10
12
14
16
Higher profitability
Competitive
advantage
Addition of new
customers
Interpretation: The above graph clearly shows that there are multiple advantages to a company
when they are willing to globalise their business at national level. In case of nationwide building
society they management is planning to expand their business for UK to other emerging region
that will provide them extra benefit in business (Lehner, Senthil and Addington, 2015). The
number of benefit to NBS after globalising there business will be high profitability, competitive
advantages and most important increasing customer base. Such as in case if respective company
will provide best suitable, unique financial services to customer at appropriate prices then
customer will automatically get attracted towards their product and services. This would help
them to increase the profit margin as more number of revenant goods and services would be
acquired by more and more customer within specific time frame. In order to gain competitive
advantage the most crucial plan adopted by NBS is providing of additional benefits with
purchase of single product such as in case if customer buy specific credit card then they are
liable to get an accidental cover of up-to 2000 GBP for first 3 years.
Theme 4: Importance of expanding financial services at global level.
Q4. Is expansion of financial services at the global level is important
for development of the company?
Frequency
Yes 28
No 12
19

Yes No
0
5
10
15
20
25
30
Series1
Interpretation: The above mention graph clearly defines that employees are NBS are
sure that as soon as company plan to globalise their operation it would definitely help in overall
development within subsequent year. It is observed that when company is performing well in
home country then they plan to expand their business at international level with a motive to
increase profit margin at provide more variety of services to customer. But some team member is
always having a fear that company may lose their existing customer in case if they expand
business because they only focus on new customer. In context of nationwide building society 28
employees were in favour that they globalisation of existing financial services would lead to
major development and on the other side 12 worker do not wants company to globalise their
business as it would reduce the local customer of UK.
Theme 5: Different issues faced by NBS while globalising financial services
Q5. What types of financial challenges are faced by the NBS company
in the implementation of the financial services at the global level?
Frequency
Lack of financial resources 15
Different country's taxes and regulations 8
Tax issues 17
0
2
4
6
8
10
12
14
16
18
Lack of financial
resources
Different country's
taxes and
regulations
Tax issues
20

Interpretation: In recent time of fast developing of business, each and every country wants to
have a profitable business as well as international business image that help to attain the desired
goals (L'Etang and et.al., 2015). When company plan to globalise their business they have large
number of benefits but at the same time there are some major disadvantages due to which
performance of company can reduces. The above graph shows that 17 team member thought that
there must be tax issues that can be faced by NBS while expanding business at international
level. 8 member out of 40 respondent believe that the major challenge that is faced by NBS when
expanding services at global level will be several rules and regulation of other countries where
they are planning to take their business. Similarly, 15 workers think that in case when company
is planning to globalise their financial services in other nation the main drawback the can face is
related with lack of enough resources such as skilled employees, monetary fund’s etc. due to
which business operation cannot be operated in while regulated manner.
Theme 6: Reason for adopting globalisation.
Q6. Which aspect forced NBS company to adopt the implementation
of financial services at the global?
Frequency
Profitability 25
Expansion of financial services 10
Other 5
0
5
10
15
20
25
Profitability
Expansion of financial
services
Other
Interpretation: By considering the above discussed graph it has been determined that 25
respondent out of 40 employees selected for particular research questioner have a feeling that
nationwide building society is planning to globalise their business only for the reason to increase
profit in upcoming time. They believe that company is already one of the leading financial
institutions of and doing well in UK market and to gain more amount of profit manager thinks
21

that expanding business at international level would result to attain the desired objectives. While
10 people of company have different feeling as they thinks that company is adopting expansion
of financial services was they only motive because they wants to first gain the customer interest.
On the other side 5 team member believe that NBS is planning to globalise financial services for
some other reason such as enlarging customer base, gain knowledge about other companies
dealing in same industry (Maesse, 2015).
Theme 7: Usefulness of marketing strategies in context of globalisation
Q7. Is marketing strategies impact the globalisation of financial
services?
Frequency
Yes 30
No 5
Neutral 5
0
5
10
15
20
25
30
Yes
No
Neutral
Interpretation: From the above graph it has been discovered that 30 team members have a
strong viewpoints that beat and appropriate marketing strategy Help Company to more
comfortably globalise their exiting financial services in new countries. As better marketing plan
support internal and external environment of company to deal with challenges and easily
launched their product in market. On the other side 5 people though that there is no need of
changing marketing strategy while expanding business because customer have the same feeling
to buy any banking services. It is also observed that 5 worker do not show any response while
answering this question as they clearly states that management are the one to take valuable
decision for growth and development.
Theme 8: Promoting of company services through globalisation.
22

Q8. Is globalisation of financial services helping the company in the
promotion of company's services?
Frequency
Yes 35
No 5
0
5
10
15
20
25
30
35
Yes
No
Interpretation: The above graph shows that 35 worker are confident enough as they
believe that globalisation of financial services helps the nationwide building society in the
promotion of company's services. This completely means that profitability can be meeting by
company if they are promoting business in proper manner considering each and every aspect of
globalisation rules and policies. On the other side 5 members believe that globalisations of
financial services not help the NBS in the promotion of company's services at a wider level.
They have to be more focused on other sources while promoting their services and attaining the
interest of new customer.
Theme 9: Implementation of globalisation helps to increase market value
Q9. Is globalisation of financial services help to the NBS company in
increasing the goodwill?
Frequency
Yes 25
No 10
Neutral 5
23

0
5
10
15
20
25
Yes
No
Neutral
Interpretation: From the above graph it has been ascertained that globalisation Help Company
to expand business in larger context further supporting to increase goodwill. Out of 40 individual
selected for research 25 strongly agree with the thought that by adopting globalisation NBS
would be able to provide services to different areas that directly support to increase the overall
goodwill for company within specific time frame. 10 candidate disagree with the facts that
globalisation support in increasing goodwill as there are many other reason that must be consider
by management while expanding business. On the other side 5 member do not have any opinion
on this question as they are not in favour of globalisation.
Theme 10: Best business strategy support in globalisation
Q10. Does use of business strategy is beneficial in the globalisation of
financial services?
Frequency
Yes 25
No 15
0
5
10
15
20
25
Yes
No
Interpretation: The above mention graph shows that 25 people are in favour that by
using valuable business strategy benefits nationwide building society to globalise financial
24

services. On the other side 15 are not sure that business strategy alone help company to deal with
challenges upcoming at the time of globalisation.
Theme 11: Appropriate business strategy help in globalising financial services
Q11. Which business strategy is beneficial to company for
globalisation of financial services?
Frequency
Global strategy 22
Transnational strategy 8
Multinational corporation 10
0
5
10
15
20
25
Global strategy
Transnational
strategy
Multinational
corporation
Interpretation: The above graph shows that by using best appropriate business strategy
company would easily sustain for long in competitive business within international market.
Likewise, 22 employees are sure that with implementation of global strategy NBS would be able
to easily succeed with its desired plan to expand business at global level. 8 members have strong
feeling that transactional strategy is more beneficial for company helping to adapt change and
execute business in proper manner according to planned scenario. This would help to attain the
profit and sustain for long run in competitive world. While remaining 10 people thoughts that
multinational strategy would help more NBS to globalise their business at attain the following
results.
Theme 12: Modification in present strategy to increase business
Q12. Is company is needed to change the strategy for globalisation of
financial services?
Frequency
Yes 15
25

No 25
0
5
10
15
20
25
Yes
No
Interpretation: In order to gain success there is always need for a company to make some
changes in existing business strategy (Mboyo and Pierre, 2017). But in case if company is doing
well and able to grow profit year by year than they are not required making changes as
modification can lead to failure. The above graph shows that 15 members are in favour of
changing the business strategy while expanding business but the remaining 25 member believe
that with the current strategy NBS would more likely to attain the more market share and expand
business in more organised manner.
Theme 13: Support of globalising financial services for customer
Q13. Does globalisation of financial services beneficial for customers? Frequency
Yes 30
No 10
0
5
10
15
20
25
30
Yes
No
26

Interpretation: The above graph displays that 30 member out of 40 respondents have strong
feeling that globalisation is helpful for customer as well. Such as company use to globalise
business and provide more variety of goods and services for benefits of customer, while the other
10 member thinks that company only globalise their business to attain profit and increase market
value.
Theme 14: Actual reason for expanding financial services
Q14. What are the needs expanding of financial services at global
level?
Frequency
Increase market area 12
Customer benefits 28
0
5
10
15
20
25
30
Increase market
area
Customer benefits
Interpretation: The above graph discussed that company have various reason for
increasing business at global level. Such as 12 member thought that nationwide building society
is globalising there business for just increasing market share but remaining 28 people clear
defines that the main motive of expanding business in other companies is to provide valuable
benefits to customer.
Theme 15: Different option while expanding financial services.
Q15. Is company is needed any other way except from globalisation of
financial services for spreading the financial services?
Frequency
Yes 12
No 28
27

0
5
10
15
20
25
30
Yes
No
Interpretation: The above presentation clearly defines that company do not requires any
other sources other than globalisation for expanding business in international market. 12
candidates thought that there must be some other reason for increasing business but remaining 28
members believe that there is no need for any other sources other than globalisation to expands
business.
Communication research findings to stakeholders
In business context, the main determiner for any business is stakeholder. They usually decide as
the concepts of individuals those are part or belongs of business idea and have potential
knowledge about the business purposes (McVay, Kennedy and Fullerton, 2016). There are
various types of stakeholder to a business internal such as employees, manager and external like
customer, supplier, government etc. For pass on research results to the chose individuals it is
fundamental to understand the best way to range these stakeholders. Nationwide building society
offers variety of financial services and banking product that are essential for each and every
people to meet their emerging and planned requirements. The company have a main motive to
provide customer best choices so that they can get worth for their money. As banking industry
have number of stakeholder like buyers, government, investment network and proprietor and
other financial institution. Stakeholders of research include those people who get a few
advantages for achievement of Research work. Researcher and target group of onlookers are the
significant partners of Research as they take in various things from the discoveries of the
undertaking.
28

CHAPTER 5: REFLECTION AND RECOMMENDATION
A Research report is depending of the predefined investigation issue or the potential
worry on which the particular Research have to overwhelmed with that issue or relevant topic
through collecting of substantial and compact data to draw meaningful decision (Rodgers,
Söderbom and Guiral, 2015). The present investigation work depends on to break down the
adequacy of Globalization of financial services and its effect on business achievement and
development of nationwide building society. In the relevant topic, Research philosophy is
considered as the most basic segment of the examination accordingly it assumes huge role in
giving a critical direction to specialist by the reasonable determination of systems and
methodologies. Research procedure has included different applications that support the following
analysis related to globalisation on financial services in right manner. In order to gain best and
suitable results the current research is relying upon qualitative methods as in this data has been
accumulated on particular means. Independent investigation is productive for building up a
hypothetical structure that gives fitting subtleties on a predefined zone of study. Therefore to
draw more accurate and reliable result manager of NBS have also conducted survey of 40
workers within company those are providing valuable feedback for company in order to succeed
in competitive market place (Root, Van Der Krabben and Spit, 2015).
In this particular graphical presentation of research format and exploration configuration
has been utilized through the analyst since it is practically appropriate system that applies for
qualitative Investigation. Hence inductive research method is likewise being connected by the
investigator to give appropriate help to subjective research by collection of real or certainty full
data. Interpretivisim rationality has been utilized by the Researcher to delivering remarkable help
to writing with the belief of various writers and other authors. Alongside this essential and
secondary root are connected by the Researchers in regard to collection of substantial and
faithful data that support to make valid decision and meaningful solution. Secondary instruments
like books, diaries, papers, magazines, past research project and so on are utilized for organising
the region of literature review in successful way. Moreover primary instrument are also consider
to be effective for completing overview in which questions are being asked through the survey,
so that most appropriate gathering of real information with the help of respondents can be
abstracted. In respect to above research it has been also observed that most of the workers are in
favour of expanding business at global level and this boost confidence among manager to make
29

more sound decision on the globalising financial services in different countries (Sach, 2015).
They are confident enough that after globalising business company profitability will be increased
by good margin and more number of customers will be attracted towards their products and
services.
In context of above research, researcher is challenging different sort of issues and clashes while
directing an examination projects. Accordingly more time and cost are also some potential issue
which are essentially faced by Researcher during the execution of research activities. A few
activities are time or cost uncontrollable in nature so it is essentially required by analyst to plan a
specific time scale in regard to appropriate execution of research exercises. The collection of
accurate and authentic data is an another issue for the researcher in this manner as they sources
for collecting data are not appropriate and different articles and journals published on internet are
not providing clear picture. The opinion of various authors and writer are not good as they have
different viewpoint regarding globalisation of financial services, thus it is required to select best
and faithful method to collect data and conduct following research (Schaper, 2016).
Recommendation for Alternative research methodology
In fast and changing environment, researcher applies various tactics and concepts while
conducting research so that best possible answer are collected to make better decision and
overcome the issues or problems. In order to make particular researcher there are different
elective application of research philosophy that additionally plays successful role in gathering of
faithful and accurate information and data. In the following investigation project that is depends
on the adequacy of Globalization of financial services and its overall impact on business
achievement (Storni, 2015). It is crucial for management of NBS to equally make focus in
different context of business and other relevant topic such as government policies of that region,
taxes policies, competition etc. This is an administration research that gives direction to the
students to improve their insight base and aptitudes in the management area of study. This is a
wide research project; therefore it is required for the investigator to accumulated enormous
measure of information for treatment particular issue. In this specific research, survey
questionnaire is utilized by the responsible researcher in the way of gathering huge amount of
information inside little time period. Interview or meeting is a successful substitution method
that is additionally utilized through the Research for gathering essential information on particular
topic. Interview is likewise a substantial tool yet it is a time consuming procedure and it isn't
30

much helpful in collection of huge data. In this, a solo round is involved, that is very actual in
collecting information by analysing the impression of other people The main reason is that
particular frame of question are asked from a few respondent and valuable decision are made on
assumption basic. Therefore result many time are not accurate and according to the given
research scenario, hence it is necessary for management of NBS to apply the best suitable
different methods for extracting valuable information related to globalisation of financial
services. Meaningfully, other methods will supportive to be revealing that the method that I can
use with the end goal of exploration work (Vietz, Walsh, and Fletcher, 2016).
CONCLUSION
In the above research various aspects have been discussed and valuable analyses are
made regarding an important topic. Thus from the above specified project it is concluded that
globalisation is a crucial activity for many companies while expanding business at international
level. In today’s era, globalising business operation is the main concern of all firm that is to
enlarge their organisational tasks at wider measure that help to attain the desired goals and
objective in specific set of time. Expanding business activities are appreciated for the financial
growth for any country as it raise the standard of living and increase economy. Globalisation of
financial services by companies like nationwide building society help to provide customer a
variety of option to make authentic choice while making investment, buying any insurance,
holding a credit card etc. in significant manner that provide at most benefit to themselves.
International business and globalisation of financial services are much interconnected with one
another, thus globalisation generates international business for companies like NBS to easily
expand business. In conclusion, it is also stated that company must adopt the best suitable
method for conducting research so that genuine opinion of workers can be ascertained and
relevant decision are made for better expansion of financial services in different countries.
31

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33

APPENDIX
Research Proposal Form
Student Name: ______________________ Student ID: ____________
Centre Name: _____________________
Tutor: ________________ Date: ___________________
Unit: ____________________
Proposed Title: The Globalization of Financial Services.
Title or working title of the research project (in the form of a question, objective or hypothesis)
To examine and determine the impact of Globalisation of Financial services in accounting and
finance Pathway.
Research aim
“To analyse the impact of globalisation on financial services”. A case study on NBS Nationwide
Building Society.
Research objectives (e.g what is the question you want to answer? What do you want to learn
how to do? What do you want to find out?):
 To analyse the concept and importance of Globalisation.
 To identify the impact of globalisation on financial services.
 To identify various ways through which NBS can globalise their financial services
 To analyse benefits of globalisation in the context of banking industry especially in NBS.
 To evaluate challenges of globalisation in the context of banking industry especially in NBS.
Research Question.
 What are crucial significance of Globalisation?
 How Globalisation impact on financial services?
 What are different ways that can help NBS to globalise their financial services?
 What are various advantages of globalisation to NBS?
 How globalisation can bring challenges in the context of banking industry?
Section Two: Reasons for choosing this research project
Reasons for choosing the project (e.g links to other subjects you are studying, personal interest,
future plans, knowledge/skills you want to improve, why the topic is important):
34

It is very important to understand the importance of globalisation as it help the companies, bank
and other financial institution to globalise their business and services in different nation. The primary
reason for holding research on globalisation is to enlarge the skills and knowledge of learner in
several crucial business area. It also help in developing various strategies and implementation of
these action plan in order to globalise business in new wider marketplace. This investigation is also
helpful in analysing and evaluating various advantages and disadvantages of globalisation on
financial services.
The other important reason for choosing the relevant topic is it enable assorted professional to
increase efficiency and create skills and knowledge that are beneficial in conducting business at
international level in better organised and profitable manner. This respective investigation would also
support Nationwide building society to operate business in most economical and beneficial manner
resulting to attain profit objective.
Section Three: Literature sources searched
Use of key literature sources to support your research question, objective or hypothesis:
Concept and importance of Globalisation.
According to Jorge Morales Pedraza, the process that help the entire world to be a single market is
known as globalisation. It means that product and services, capital and labour are treated on global
level that help different companies to operate business at gain profitability. It support in raising the
living standard of people as various goods and services are provided for their benefits.
Identify the impact of globalisation on financial services.
Coe, Lai and Wójcik (2014) states that integration of finance in to global production network mainly
indicates towards aiming the globalizing the regional development. The global production network
helps to communicate the economies and regional development in developing countries. Interrelation
between the GPN and the GFN are highlighted with more contingent manner.
Various ways through which NBS can globalise their financial services
As per the opinion of David Wijeratne, there are various ways that help an organisation to globalise
their business. The very first step is related with analysing market research and determine the current
trends. Thus, it is crucial for management of NBS to investigate circumstance before entering in
emerging market by considering latest competition, laws, regulations and situations etc. Some of the
35

basic strategies, which help nationwide building society to enter into new market.
Benefits of globalisation in the context of banking industry especially in NBS
As per Sufjan and Habibullah, (2012) globalisation in financial services get benefited by initiating
the development and growth opportunities in banking sector. NBS bank can get benefits by adapting
its global financial tactics. Major benefit of integrating financial services internationally is increment
in foreign exchange reserves and large capital and revenue structure.
Challenges of globalisation in the context of banking industry especially in NBS
Zakari (2014) states that tracking the transactions and the reporting for these financial statements is
one of the challenging factor that remain essential in terms of globalisation of financial services. As
NBS is one of have to track the details and the structure of business in various forms with critical
analysis.
Coe, N. M., Lai, K. P. and Wójcik, D., 2014. Integrating finance into global production
networks. Regional Studies. 48(5). pp.761-777.
Sufian, F. and Habibullah, M.S., 2012. Globalization and bank efficiency nexus: Symbiosis or
parasites?. Review of Development Finance, 2(3-4), pp.139-155.
Zakari, M., 2014. Challenges of International Financial Reporting Standards (IFRS) Adoption in
Libya. International Journal of Accounting and Financial Reporting, ISSN, pp.2162-3082.
Section Four: Activities and timescales
36

Activities to be carried out during the research project (e.g research,
development and analysis of ideas, writing, data collection, numerical
analysis, tutor meetings, production of final outcome, evaluation, writing
the report):
Activities Time Taken
Introduction 8 days
Creating Aims and Objective 10 days
Literature Review 12 days
Research methodology 15 days
Data collection 20 days
Data analysis 10 days
Recommendation 4 days
Submission 2 days
How long this
will take:
The overall
research will take
approx 3 months
for accurate result.
Milestone one: _________________
Target date (set by tutor): ____________________
Milestone two: _______________________
Target date (set by tutor): ______________________
37

Gantt Chart
Section Five: Research approach and methodologies
What type of research approach and methodologies are you likely to use and why? What your
areas of research will cover:
Research Philosophy: It is a defined as the group of beliefs related to the data being really
investigate to get better result. The mainly differ in the aim of research and give the other best ways
that help in accomplishing overall goals. Thus, the understanding of research philosophy is used to
explain the assumption inherent in the research.
Research approach: There are mainly two kind of approach such as deductive and inductive. The
deductive method of research help to create the hypothesis related with pre-existing and develop the
test appropriate for better result. On the other side the inductive approach is used in qualitative
research that help in benefiting the research my reducing the potential for researcher bias in the data
collection stage.
Quantitative Approach: It is related with quantitative data as it contain various number accepted by
the standard of statical data collected for the validity of different approach and these number of
representative are needed to develop a statistically important results. This method are most
effectively used for situation that contain more number of respondents available and is used to get
better result.
38

Qualitative Approach: It is requires by the researcher to avoid the imposing of its own perception
and help to investigate the reality of individual. This presents the challenge of creating a
methodology that is framed by the respondent rather than by the researcher.
Research Strategy: It help to deliver effective style for carrying valuable research to a relearnt topic.
It is consider to be a case study methods in which useful questionnaire are prepared to determine
results.
Choices: This is a method that is a combination of qualitative and quantitative method that help to
make more meaningful research and determine the best suitable results.
Time Horizon: This is related with actual total time included while doing each and every activity
related with research in proper manner. There are mainly two kind of time horizons such as
longitudinal and cross sectional on the basis of which activities are divided. The above research is
depended on longitudinal part as the investigation is linked with particular criteria.
Data collection methods: There are two important sources of collecting data primary and secondary
which help in collecting authentic data. In primary data the use to create questionnaire and ask form
respective respondent. On the other side the secondary data is helpful in conducting appropriate
literature review.
Comments and agreement from tutor
Comments (optional):
I confirm that the project is not work which has been or will be submitted for another
qualification and is appropriate.
Agreed: ________________ (name)_______________ Date ______________
Comments and agreement form project proposal checker( IV sampling)
Comments (Optional):
I confirm that the project is appropriate.
39

Agreed /Disagree: (Name of the IV) Date
40

Research Ethics approval form
All students conducting research activity that involves human participants or the use of
data collected form human participants are required to gain ethical approval before commencing
their research. Please answer all relevant questions and note that your form may be returned if
incomplete. For further support and guidance please see your respective Unit Tutor:
Before completing this form, we advise that you discuss your proposed research fully with your
unit tutor. Please complete this form in good time before your research project is due to
commence.
41

Section 4: Data Storage and Security
Confirm that all personal data will be stored and processed in compliance with the Data
Protection Act (1998)
42

43