Role of Globalisation in Business Success

Research Project

TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION....................................................................................................1
Research title-..............................................................................................................................1
Aims and objectives.....................................................................................................................1
Rationale......................................................................................................................................1
Literature review..........................................................................................................................1
Activity and time scale................................................................................................................3
Research methodology.................................................................................................................4
CHAPTER 2 LITERATURE REVIEW..........................................................................................6
Theme 1: investigate role of globalisation in success of business of Tesco................................6
Theme 2: identification of ways business can expand at global level.........................................6
CHAPTER 3: METHODOLOGY...................................................................................................8
3.1 Research Approach................................................................................................................8
3.2 Methodologies:......................................................................................................................8
CHAPTER 4: DATA COLLECTION AND ANALYSIS...........................................................................10
4.1 Data collection.....................................................................................................................10
4.2 Data analysis........................................................................................................................10
CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS.................................................15
5.1 Conclusions..........................................................................................................................15
5.2 Recommendations................................................................................................................15
CHAPTER 6: PERSONAL REFLECTIVE STATEMENT..........................................................16
6.1 Reflect on the research methods used in your project.........................................................16
6.2 Consider research methods that could have been used........................................................16
6.3 Areas for further research....................................................................................................16
REREFENCES..............................................................................................................................17

CHAPTER 1: INTRODUCTION
Research title-
How globalisation can drive business success
Aims and objectives
Aim- to examine how globalisation can drive business success
Objectives
 To investigate role of globalisation in success of business
 To identify ways business can expand at global level
 To analyse risk of globalisation on business
Research questions
 What is role of globalisation in success of business?
 What are the ways business can expand at global level?
 What type of risk can globalisation have on business?
Rationale
The main reason for choosing this topic is to analyse that how business can achieve
success in era of globalisation. Also, it will enable in finding out real example of those
companies who have expanded or attained success in this. Besides that, the topic will help in
understanding the benefit of globalisation for organisation to gain competitive advantage. In
addition, it will be easy to examine the strategies used by them to enter in new market.
Literature review
As said by Baylis, 2020, the evolution of globalisation has provided a platform for a
business to expand in other countries. It has allowed them to trade with other countries and
provide their products and services in order to fulfil needs of people. Moreover, it has opened
areas for growth and generate more revenue. However, there are different types of strategies
developed and applied by firms. This depends on their target market and type of goods offered.
According to Lechner and Boli, 2020, many small and medium firms are also getting
opportunities to enter in new market. They are able to attract large number of customers and earn
revenue. Furthermore, firms who are facing competition in local market is able to expand in
other markets. By this they are successfully operating there. globalisation provides opportunities
to companies to enter into new market and make connection with new consumers. That helps in
generating more sales and sustaining into market for longer duration. Globalisation is the process
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that helps business in gaining competitive advantage by raising global brand image. It makes
consumers positive towards the brand and help in sustaining in market for longer duration.
Silova and Niyozov, 2020 argued that franchise is the best option to enter into new market. By
using this method entity can run its operations in global market in cost effective manner. As
giving franchise to any other local brand that has good command over the local area may help in
reducing operational cost and also help in enhancing awareness among people. By this way
people will buy its products frequently that may help organisation in gaining success in market.
As per the view of Lechner and Boli, 2020 globalisation creates threat to business
because in the new market it is very difficult to know needs of local population and serve them
products accordingly. If enterprise fail to satisfy needs of that people then enterprise may have to
bear huge financial loss, apart from this it may impact its presence in market badly. Many times
entities fail to analyse market condition and enter into new market, if selection of market is not
appropriate then also globalisation may create big trouble to business unit. In such condition
entities may not be able to sustain in new market for longer duration. In such condition it fails to
attract new investors hence overall financial stability of firm can get affected by this
globalisation. In order to maintain the competitiveness in the market, business entities are taking
continual initiatives that diversify the business activities in efficient manner. Globalisation is
termed out as leading concept that has become of vital concept in life during the last few
decades. Globalisation is term that mainly enhance the competition. This competition can be
relating with the product, target market, technological adaption, quick response and services cost
etc. One of the most striking manifestation of globalisation is that the number of the enterprise
can have the use of new technologies by the entrepreneurial and internationally oriented firms
that aids to exploit new business opportunities. Henceforth, Lechner and Boli, 2020 stated that
technical advancement is of the crucial tool that leads to increase the competition and also
improves the quality of good and services. On the other hand, globalisation has also enhanced
the speed of technology transfer and help to bring improvement in technological advancement.
Therefore, the firm needs to use the technical advancement so that sales and quality of product
can be increased. As per the view of Lechner and Boli, 2020 stated that globalisation has
enhanced the speed of technology transfer and bring technical improvement. Thus, development
of the international business activities that mainly coincided with widespread phenomenon of the
globalisation markets.
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