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Concept of Globalisation - Assignment

   

Added on  2020-12-29

35 Pages7184 Words460 Views
Research Project

Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................1Research Aim: ............................................................................................................................1Research Objectives:...................................................................................................................1Research Questions.....................................................................................................................1Rationale of Research.................................................................................................................2CHAPTER 2: LITERATURE REVIEW.........................................................................................2Concept of globalisation.............................................................................................................2Different strategies employed by Firehorse to enter emerging market.......................................3Importance of different strategies used by company to enter into emerging market..................3CHAPTER 3: RESEARCH METHODOLOGY.............................................................................4Type of Investigation..................................................................................................................4Research Approach.....................................................................................................................5Data collection............................................................................................................................5Sampling.....................................................................................................................................6CHAPTER 4: TIMELINE...............................................................................................................6CHAPTER 5: DATA ANALYSIS .................................................................................................8CHAPTER 6: CONCLUSION AND RECOMMENDATION.....................................................17Conclusion.................................................................................................................................17Recommendation.......................................................................................................................17CHAPTER 7: REFLECTION .......................................................................................................18REFERENCES..............................................................................................................................19.......................................................................................................................................................20

CHAPTER 1: INTRODUCTIONGlobalisation consider as an important process of international integration that arise fromthe interchange of the ideas, products and another aspects of culture. As per current scenario,globalisation is result of closer ties in international trade that provide opportunities to businessorganization to increase their trade. Along with this, it also help in increasing in investmentwhich is aided by the enhancement in information technology and communication as well. Withthe assistance of this concept, business organization can easily expand their activities and alsostart selling products to other countries (Boulouta and Pitelis, 2014). The main benefit ofglobalisation is to reduce the gap between different countries by increasing trade and at the sametime also enhance wealth of the country. Mainly, it offers both benefits and challenges to thebusiness organization as it can provide opportunities for improving quality of life for variouspeople that may contribute in enhancing the economic growth. On the other side, it also leads tochallenges with the welfare of workers and the environment. Current report is based onFirehorse, is a small business organization which operate their business with the aim ofenhancing their image at market place by providing their quality services in market place. Withthe use of globalisation, company easily expand their business activities and also improve theirbrand image. Thus, it is important for company to analyse market trends and culture beforeglobalising their business. This will support them in establishing competitive brand image atmarket place. Research Aim: To determine the significance globalisation and different strategies employed bybusinesses to enter intoChina market. A study based on Firehorse. Research Objectives:To understand the concept of globalisation.To identify the different strategies employed by Firehorse to enter emerging market.To determine the importance of different strategies used by company to enter into Chinamarket.To establish the methods which monitor every financial transaction and minimize thecost.1

Research QuestionsWhat is the main concept of globalisation?What are the different strategies employed by Firehorse to enter emerging market?What is the importance of different strategies used by company to enter into Chinamarket?What is the methods which monitor every financial transaction and minimize the cost?Rationale of ResearchConcept of globalisation is an important aspect which provide various opportunities tobusiness organization to expand their activities at global level. This research is based on differentstrategies which employed by the company with the aim of entering into emerging market (Craneand Matten, 2016). With the assistance of this, investigator easily understand about the strategieswhich help company at the time of entering into new market. The main aim of carry out thisresearch to increase skills and knowledge about the globalisation strategies through whichcompany easily operate their business into new market. The main reason for choosingFirehorse as research base is because of small organisation which wasestablished in 2018 in order to gain more knowledge about it and enteringinto new market for globalisation.CHAPTER 2: LITERATURE REVIEWThis section play a significant role in carry out the research activities as it supportinvestigator to effectively analysis the information towards the specified research topic. With theassistance of this, researcher can easily attain positive outcomes. Mainly, it includes differentviews and opinion of various authors who has experience within the research topic. IT is relatedwith secondary source as the data is already published in different sources such as books,journals, articles, newspaper and many more. All these are directly contribute in gatheringrelevant data towards the research area. Concept of globalisationAccording to Williamson, (2019), globalisation is an important concept which includesthe process of integration among people, business and government in over the world. Mainly, itincludes various aspects such as global trade, investment, technology and culture that directlyinfluence the overall business activities. The main aim of implementing globalisation within the2

organization is to expand business activities which may contribute in enhancing the market shareof the company. With the assistance of this, company get various benefits from the globalisationconcept such as free movement of labour, free trade, Greater competition, increased economicscale and many more. All these are directly contribute ins making the organizationalperformance more competitive. On the other side, company operate their business at global levelthat require various aspects like skilled workforce, advancement in technology and so on thathelp business organization to establishing their competitive brand image at global level. Different strategies employed by Firehorse to enter emerging marketAccording to Cui, Meyer and Hu, (2014), it is important for business organization toanalyse market trends before operating their activities at global market. This will help them inunderstanding the overall activities present at market place. In this context there are someeffective strategies that employed by the Firehorse with the aim of entering in China marketare as follows:Licensing: This type of strategy is also play a vital role in entering into new market inwhich company allow local parties to use their name and products to sell under a licenseagreement. In exchange of this owner of the company receive royalties in exchange. Withthe assistance of this, company can easily increase their profitability level at marketplace. Franchising: It is an important business strategy that allow another party to operatebusiness under their brand name. With the help of this strategy, company can easilyexpand their brand. Under this, the franchiser grants the franchisee the right to use yourbrand name and operating their system. Importance of different strategies used by company to enter into China marketAccording to Hill, Jones and Schilling, (2014),Market entry strategies are important forbusiness organization to expand their activities at global level. Along with this, it is a planneddistribution and delivery method to serve products to a new target market. With the assistance ofthis company can easily increase their overall profitability level and at the same time also makestrong customers base. In this context there are importance of strategies that used by Firehorsewith the aim of entering into Chaina market are as follows:Increase profits: When company use strategies to operate their business at internationallevel than they have opportunities to enhance their market share. With the assistance of3

this, company invite large number of customers towards its offerings and at the sametime also provide them same to attain their satisfaction level. This will directly contributein increasing overall profitability level of he company. Improve brand image: Use of market entry strategies, company increase the chances ofcapturing larger market share from its rivals. It help Firehorse to get opportunities tomake their brand image more popular by serving best quality services in China market.This will directly contribute in making brand image more competitive as compare to itsrivals.Methods which monitor every financial transaction and minimize the costAccording to Ocloo, Akaba and Worwui-Brown, (2014), it is important for everybusiness organization to monitor whole financial transaction so that they can measure the actualperformance of the company by minimizing unnecessary cost. While operating business at globalmarket place, it is crucial for Firehorse to manage their financial activities ortransaction in order to maximize the profitability level and at the same timealso increase the chances of establishing their competitive brand image. Forattaining the same, there are some systems which used by the company tomonitor every financial transaction to minimizing the overall cost. In thisregards, monitoring financial transaction is one of the effective transactionmonitoring software or system that allow company to monitor all thetransaction as per daily basis that may aid in increasing the chances ofattaining success at China market. Preparation of all the key financial systems is beneficial for businessto produce a balance sheet that includes all the profits/ losses of thecompany. With the assistance of this, firm can easily evaluate theiractual performance at market place. Systematic preparation of Aged Debtors trial balance help company iskeeping track all the customers who owe them money. Working capital statement and financial ratio is also evaluate theliabilities of the company and at the same time also evaluate that howmany assets they an convert quickly to cash so that unnecessary costcan be easily cut down. 4

CHAPTER 3: RESEARCH METHODOLOGYIt is one of the important aspect of whole research work as it help researcher to carry outthe research activities in an systematic manner (Hilmersson, 2014). Mainly, it is related with thetheoretical evaluation of method which used by investigator with the aim of gathering accurateinformation about the specified research area. For collecting relevant data, researcher isresponsible for selecting appropriate method so that they can easily undertake research activitiesand also attain positive results. Type of InvestigationInvestigation is consider as a systematic process of collecting as well as analysing datafrom various sources with the aim of discovering facts towards the research topic. Mainly, itincludes various aspects that should be valid, reliable and accurate so that researcher can besubmit in allotted time frame (Mathooko and Ogutu, 2015). It includes two type of investigationsuch as:Qualitative Research: This method is related with the observing as well as collectinginformation from different sources in non-numerical form. It is related with theoreticalprospectives that may contribute in understanding respondents views and opinion towards theresearch topic. As it includes open ended questions to collect data. Quantitative Research: It is a method which is based on the systematic approach ofcollecting as well as analysing information through different aspects such as survey,questionnaire and many more. Mainly this type of information is gather in numerical form whichhelp in drawing a valid conclusion. For this study, investigator will use qualitative research to gather information as it givetheoretical framework which help in understanding the respondents views and opinion towardsthe research topic. Research PhilosophyResearch philosophy is a belief which is related with the way in which data should begathered, analysed and used (Lasserre, 2017). This method provide direction to the investigatorto gather information towards the research topic with the aim of taking right decision. Mainly, itdeal with nature, development and sources through which researcher easily analyse theinformation. It is classified on two different types such as :5

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