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Research Project Assignment - Role of Globalization in Driving Business Success

   

Added on  2020-10-22

45 Pages7891 Words240 Views
RESEARCH PROJECT

Table of Contents
TITLE:- “To identify the role of globalization in driving business success.” A case
on Mark & Spencer ...................................................................................................3
CHAPTER 1: INTRODUCTION .............................................................................3
Overview of investigation.....................................................................................3
Background of research.........................................................................................3
Research Aim:-......................................................................................................4
Research Objective:-..............................................................................................4
Research Questions :-............................................................................................4
Rationale................................................................................................................4
CHAPTER 2: LITERATURE REVIEW ..................................................................5
The concept of globalization.................................................................................5
The several challenges that mark & Spencer has faced while its global expansion
...............................................................................................................................5
The contribution of globalization in driving business success of Mark & Spencer
...............................................................................................................................6
Recommend the ways Mark & Spencer can overcome the challenges it faced at
global level............................................................................................................6
CHAPTER 3: RESEARCH METHODOLOGY ......................................................7
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION ............................10
CHAPTER 5: RESEARCH OUTCOME................................................................25
Covered in PPT....................................................................................................25
CHAPTER 6: REFLECTION & RECOMMENDATIONS FOR ALTERNATIVE
RESEARCH METHODOLOGY............................................................................25
Recommendations...............................................................................................25
Reflection.............................................................................................................25

CHAPTER 7: CONCLUSION ...............................................................................26
REFERENCES........................................................................................................27
TITLE:- “To identify the role of globalization in driving business success.” A
case on Mark & Spencer
CHAPTER 1: INTRODUCTION
Overview of investigation
Globalisation is refers to as a process through the economical relations
among two countries are with the purpose of reducing the barriers related with
cross border practices so that international trade can be promoted. As globalisation
of business practices support in development and expansion of business by
providing it easier access to global market for offering product or services to
customer living in several different geographical location (Crane and et. al., 2019).
The main reason behind this is that globalisation brings up several growth
opportunities to a business in term of expansions, access to advancement, foreign
investment and larger customer base to offer services. For performing this
investigation effectively over the role of globalisation in driving business success,
Mark & Spencer will be considering in this investigation. This is because it is an
international business which operates over several different location, so by
studying this it become easier to determine manner in which globalisation help a
business in achieving success (O'brien, 2019).
Background of research
Globalisation is a process of increasing and promoting the interaction
between people, companies and government which lives at several geographical
locations in world. The internationalisation of business practices increased with the

enhancement in technological and transportation development which attract
companies to start operating at global level (Reilly and Williams, 2016). In order to
conduct this investigation, Marks & Spencer will be consider which is a larger
British multinational organisation that is headquartered in London and it is
specialised in offering high quality apparels, food and home products. Mark &
Spencer is one of the greatest examples for globalising business practices as it
perform its operations in larger number of countries. It has experienced greater
success from the time it started operating at global level as it become able to access
more and more customer which in turn increase the demand of its product that also
work toward increasing its profitability and brand image at a larger scale (Verger,
Lubienski and Steiner-Khamsi, 2016).
Research Aim:-
To identify the role of globalization in driving business success. A case on
Mark & Spencer
Research Objective:-
To gain knowledge regarding the concept of globalization.
To identify several challenges faced by Mark & Spencer while expanding
business globally.
To ascertain the contribution of globalization in driving the business success
of Mark & Spencer.
To recommend the ways Mark & Spencer can overcome the challenges it
faced at global level.
Research Questions :-
Explain about the concept of globalization?

To analyse the challenges that mark & Spencer has faced while its global
expansion?
To analyse the contribution of globalization in driving business success of
Mark & Spencer?
What ways does Marks & Spencer can overcome the challenges it faced at
global level?
Rationale
The main aim behind conducting this investigation is to identify the
globalisation role in providing growth opportunity to business so that it mark-up
success at global market place. This is an interest area of researcher which make
investigator to focus more while gathering relevant and accurate information that
contribute toward achievement of research objectives (Hunter, Saunders and
Constance, 2016). In addition to this, researcher's knowledge in term of tools and
techniques will get enhance that support in presenting information effectively to
the readers?

CHAPTER 2: LITERATURE REVIEW
Literature review is defined as the process of critical evaluating the view
point of two or more authors in order to develop an understanding regarding a
topic of concern and nature of study (Laszlo and Cescau, 2017). This support in
creating a base on which further investigation can be performed for gathering
primary information with support of secondary evidencing.
The concept of globalization
As per the information presented by Sammy Collins, 2019, Globalisation
contributes toward the development of economy throughout out the world in
appropriate manner. It consists of several processes that are associated with
production as well as consumption of product or services in order to satisfy the
need of customer base. The globalisation practices get increased among
organisations throughout the world with the increase in level of technology,
improvement in production process and enhancement of per capita income of
people within society. This all contribute toward increasing the demand of
customers toward particular product or service that provide opportunity of
expanding business in such places where market demand is high and company
become able to achieve sustainability. Hence, it is consider being major point of
motivation for companies to expand their business and work toward
standardisation of business practices in order to achieve growth and success of
business. The main reason behind expanding business at several geographical
locations is to approach larger number of customer throughout the world for
earning maximum revenue. In addition to this, global expansion also support in
increasing brand image of company within marketplace which help them in
achieving competitive edge. These are some of the major attractive features which
support a business start performing at international level.

The several challenges that mark & Spencer has faced while its global expansion
According to the view point of Katie Reynolds, 2017, while performing
business at global level there are number of opportunities as well as challenges
through which a business goes through. With the increase in global market
practices the economies get interconnected among countries that bring up several
risk factors for the businesses which is trying to expand its services in abroad.
Following are the major challenges involve in international business:
Foreign law and regulation:- The Comprehensive knowledge of laws and
regulation of particular country which govern the market is crucial for your
success. This is that major challenges which Marks & Spencer usually face
that affect its operations in other countries as each nation is different in term
of government policies and laws. It is so because governmental policies set
up the criteria or standards over which a particular company must offer its
product or services within marketplace.
Cost calculation and global pricing strategy:- The setting of cost or price
of a product as per the market condition of particular country is consider to
be the most crucial part of strategy formulation as the growth and
sustainability of business also depends on this. It is also consider being
second biggest challenge that Marks & Spencer face while offering services
at global level because Marks & Spencer doesn't expand its production
process and only work over its marketing activities which increases the cost
of product but the pricing are required to be kept as per customer’s
capabilities within particular country.
The contribution of globalization in driving business success of Mark & Spencer
As per the information presented by Charles Jr, Schmidheiny and Watts,
2017, globalisation plays a significant role within driving a business success of

companies that operates at global level. This is so because it brings up several
opportunities which an organisation can avail to develop its value in front of
customers as well as target market. Marks & Spencer is one of the greater
examples of a successful global player who expanded its operations in number of
countries and now become a giant retail player at global market.
According to the view point of Sloman, 2017, globalisation is consider to be
most crucial within an organisational success as it provide a broader market place
to offer the product or services. In addition to this it also help in providing a larger
customer base to offer product or services that help in increasing sale and goodwill
of company as well that make it easier to expand business. Within the success of
Marks & Spencer, globalisation plays a major role as it provide a larger customer
base to offer it with required product or services which help in increasing the
productivity of company as demand get increased among customers. This in turn
supported toward increasing the sales as well as profitability of company.
According to Quirke, 2017, globalisation also supported Marks & Spencer in
developing a high skilled workforce that involve the employees belong to
diversified background in term of their skills, education, knowledge, culture or
country. These all supported Marks & Spencer in achieving success at global level.
Recommend the ways Mark & Spencer can overcome the challenges it faced at
global level
According to the view point of Epstein, 2018, there are number of
challenges that are present at global market which an organisation has to face while
expanding business at global level. These have direct influence over the
performance as well as practices performed by a company. Marks & Spencer also
have to face several challenges while performing operations at global level that
may also affect the performance of company and image at marketplace. Following

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