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
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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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