How Globalisation Drives Business Success in TESCO
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This research project focuses on the influence of globalisation on TESCO's business success. It discusses the contribution of globalisation, problems faced in foreign countries, role in improving operational activities, and strategies for global success. The study aims to provide an in-depth assessment of the topic.
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Table of Contents TITLE: “How globalisation can drive business success in TESCO”..............................................4 INTRODUCTION..........................................................................................................................4 Background of the study............................................................................................................4 Significance of the study............................................................................................................4 LITERATURE REVIEW...............................................................................................................5 Contribution of globalisation in Tesco's success......................................................................6 Problems that Tesco face when operating in foreign countries.................................................6 Role of globalisation in improving Tesco's operational activities...........................................7 Different strategies for global success of Tesco........................................................................7 RESEARCH METHODOLOGY....................................................................................................7 Research philosophy...................................................................................................................7 Type of investigation...................................................................................................................8 Data collection............................................................................................................................8 Research Approach.....................................................................................................................9 Research Strategy........................................................................................................................9 Ethical consideration.................................................................................................................10 DATA ANALYSIS AND INTERPRETATION..........................................................................10 DATA ANALYSIS AND INTERPRETATION..........................................................................13 RESEARCH OUTCOMES...........................................................................................................24 RESEARCH OUTCOMES...........................................................................................................24 REFELECTION AND RECOMMENDATION...........................................................................24 CONCLUSION.............................................................................................................................24 .......................................................................................................................................................24 REFERENCES.............................................................................................................................25
TITLE: “How globalisation can drive business success in TESCO” INTRODUCTION Globalisationisintra-relationsofdifferentnationsacrossglobe,thatresultedas explorations of international, cultural, economic and political activities. It has been said that therevariousadvantageanddisadvantageofglobalisation.Thereareseveraltypeof globalisationsuchasfinancial,technological,financial,ecologicalandsociological globalisation. It is interaction of people and integration of commodities to various countries. Globalisation came into highlight due to advancement of technological gadget at global platform. Most of firm,used these technologyfor enhancingbusinessand generatingrevenues in competitive business environment in any industry. As per recent scenarios, positive image of brand is profitable in attracting potential buyers, towards product that are being offered by firm. This report is focusing on Tescowhich is third largest retailer in manufacturing industry across globe.Tesco are operating their business activities in different outlet at international boundaries. It is general merchandise retailer in local and global market place.The Tesco firm was established by Jack Cohen.This company has expanded globally since 1990 and operating in more than eleven countries.The goal of formulating this report are having in-depth assessment on particular topic in an effective way.This report explains the effect of globalisation in success of businessby describing literature review which contains reviews and opinions of different authors and scholars. Background of the study Tesco firm was established by Jack Cohen in 1919. Their headquarter are situated in Welwyn Garden City, Hertfordshire, England and UK. The firm is considered to be third largest retailer in manufacturing industry across globe. The first outlet was inaugurated in 1931 and further expanded their business operations in eleven different geographical locations all over
globe. Tesco are offering products in supermarket, hypermarket, superstore and convenience shop. As per current stats(2019), Tesco have captured market revenues of £63,911 million. Significance of the study Tesco shoulddiversify its business activities across national boundaries, to grab market opportunities and to have overalldevelopment of company . This study will help investigatorin identifying root cause of problem which firm are recentlydealing, while operating business activitiesin other countries. The organisation can drive high success and growth,through increment in quality of product and services being rendered to potential customers in local and global market. Aim:“To have in depth assessment on influence of globalisation on operations of business activities in an organisation”. Research Objectives: To determine contribution of globalisation in Tesco's success To understand problems that Tesco face when operating in foreign countries To analyse major role of globalisation in improving Tesco's operational activities To interpret different strategies for global success of Tesco Research Questions: What is the contribution of globalisation in Tesco's success ? What are the problems that Tesco face when operating in foreign countries? What is the major role of globalisation in improving Tesco's operational activities ? What are the different strategies for global success of Tesco ? Gantt Chart Gantt chart is a type of bar chart that are been visualised on two dimensions, that represent dependency networks between time durations and current actions of task in project (Letaifa, 2015). There are two axis vertical and horizontal and vertical axis representsschedules of activities that have to be operated and horizontal axis represent work period. Lastly, Gantt chart represents starting and ending dates of terminal and summary elements of activities.
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LITERATURE REVIEW This is a researchwhich is concept that includes discussions about the facts and figures over a specific topic. Thecomprehensive sum-upof methods and it usesdefined procedures that are being followed by any firm. The literature review integrates with summary and concept of the research topic. In the following literature review, there is discussion of globalisation based on opinions and reviews of different authors and writers. LRis a scholarly paper that include current knowledge about qualitative and quantitative finding on specific topics. Contribution of globalisation in Tesco's success According to the viewpoint ofWrigley,and Wood, (2018),The global marketing is explained as procedure of adjusting marketing strategies of any firm to adopt changes in different nations. It is complete process of planning, creating, positioning and promoting goods or service in international market. There are severalbenefitsof global marketing, it can improve effectiveness of product or services, increase customer awareness about brand, commodity or services and maximum competitive advantage is being grabbed by firm. There are various global strategies that are being adopted by many organisation. In context with Tesco, management have given emphasis on two most important marketing strategies, such as creating a consistent and strong brand culture and another one is market as there is no limit in capturing competitive advantage in target market place. Problems that Tesco face when operating in foreign countries According to the viewpoint ofBrar, nd Et. Al, (2018),Globalisation is a refined procedure of international integration that arises from interchange of views, commodity, and other aspect of cultureall over world.Most of firm are using global market to expand their businessincompetitivemarketinspecificindustry.Therearevariousadvantageand disadvantage of firms, exploring theirbusiness activities at overseas market. In context with
Tesco, management are recently facing issues for entering in global market. Some of problem have been discussed under-beneath: Organisational Communication-It is necessary that there should be healthy and effective communications between team members and teams, so that business activities are been operated in fluent manner in an organisation. In regards with Tesco, due to increment of conflicts between workforce, business operations are been adversely affected at local and global market. Tariff and Export Fees- Most of nations have some type of tariff that are charged on companies to bring commodities into target market place. The Tesco management should have accurate knowledge about custom duties being imposed by ruling government on import and export of goods. Henceforth business operations are been performed in systematic manner in different geographical locations. Improper allocations of Human Resource- As Tesco is planning to take business in global market. The foremost issues management have to focus is accurate allocations of human resources in organisation being remotely recruited in working environment of an organisation. Role of globalisation in improving Tesco's operational activities As per views ofIbrahim,(2019),Globalisation provide a platform where any scale business can have successful growth, through effective marketing strategies being developed by marketerofanyorganisation.Theglobalisationhasmajorroleingivingemployment opportunitiestoskilledapplicantinorganisations.Mostofentrepreneurwantstohave recognition through unique product or services being rendered to potential customer across global market. The business activities have been improved through utilisation of innovative technologies in working environment of Tesco. Due to globalisation era, business activities are being performed at different geographical locationscan be monitored and controlled, by management of Tesco through customised technologies. Different strategies for global success of Tesco According to the viewpoint ofPham,Darabi,and Wilmot, (2020),Due to intense competition in business environment, Tesco are planning to venture into international market to generate more revenues for firm, through implementation of different strategies developed by marketing team in work culture. These strategies are being based on concept of globalisation that include, greenfield investments, foreign acquisitions and establishment of joint ventures with other firm in global market. All these strategies have benefits, as well as risk arises form product
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orservicebeingofferedandcultural,politicalandeconomicalenvironmentatoverseas marketplace. Henceforth, choice of international strategies totally depend uponorganisational resources, commitment and risk willingly incurred in expanding business. RESEARCH METHODOLOGY Research philosophy Thistechnique are effectively utilisedby researcher, so that they can provide proper detail about the phenomenon, which have been used by them for collecting, analysing and using information over some specific topic.Epistemologyis a term which is used by a researcher in research, so that they can get information about the philosophy which is going to be used in research. Epistemology is a part of philosophy, which details of about the theory of knowledge, and also which is known to be true. Also, research philosophy can be said as the value which can help a researcher in gathering and collecting huge number of data in appropriate and in accurate manner (Kumar,2019). There are two type of research philosophy which is used by a researcher, one is positivism, where data is collected from real time entities and also from real life situations. Where as, another part of research philosophy is interpretivism, where it is defined as interpretation and also by interference that can be understand. Type of investigation An investigation procedure have been conducted by researchers to have in-depth analysis about root cause of problem that are being solved through surveys. There are several type of investigations such as qualitative and quantitative research, that are helpful in drawing accurate conclusion. The quantitative research are useful to interpret summary on collected fact and figures through graphical representations. Thereafter, qualitative research is used to collect information while taking inconsideration, some aspect such as “where” and “why” for observing psychological behaviour of respondents, that are taking part in interview process.
Data collection This is a step which is used by a researcher, so that they can collect authenticated and appropriate data for research, which help them in making research more worth full (Bresler, and Stake, 2017). There are different methods of data collection which researcher can use for collecting data :- Primary data collection : This an approach of collecting data, which help a researcher in collecting some fresh data and information, that have not been gathered earlier by any person. The information collected in this is for first time, and researcher is the first person which is going to use that data in their research. For this, researcher can use to interviews, surveys, questionnaires and online surveys for conducting primary type of research. Secondary data collection : This is a type of data collection which is very much easy as compared to primary data collection. This is used by researcher, so that they can collect some theoretical information and data for their research. As for this, researcher use to make research over the data which is already collected earlier by some other person, then use to make proper study of them and use to rewrite them in their own worlds. This a time saving and also cost effective methods for completing a research, with high number of authentication. Data collection method which is used by researcher for completing this research is secondary data collection. For this the resources which is used by them are news papers, blogs, emails, articles, magazines, and many other. Research Approach The process which is used by a researcher for detailing the methods of data collection , analysis and interpretation is known as research approach. There are different type of research approaches which are used by a researcher, but mainly two of them are helpful for a researcher. Out of them one is inductive and an other is deductive. In inductive, new ideas and models has been formed according to the results of research. As in this, new theories get generated related to collected data, so that authentication of research over topic get increased. Where as, deductive is reverse to inductive, in this first step is to find theory for data and test it over collected data. For completing their research, researcher has chosen deductive approach, so that they can collect some authenticated and relevant data.
Research Strategy For a researcher, it is very much important for them to adopt some strategies that can help them in gaining good outputs and also high results while conducting research over some specific topic. In this, the strategies which a researcher can use are like case study, survey, action research, grounded theory and ethnography. This will help them in making communication with their respondents in appropriate manner, so that they can collect information about new goods and services at market place (Silverman, ed., 2016). Along with this, survey is very much helpful for in interviewing their respondents, so that a proper discussion will take place on specific topic. In this, researcher need to take appropriate steps and have to make strategies, so that they can collect data in proper manner. Ethical consideration For researcher, it is very much important for them to complete the task and research in ethical manner. For this, it is essential for them to follow all the rules and regulations, so that they can knowledge that what is wrong and what is right. This will help them in making strategies which can help them in collecting most authenticated data and also help them in completing the research in ethical manner. As due to all this, researcher is able to provide best information and output of the research conducted by them. DATA ANALYSIS AND INTERPRETATION QUESTIONNAIRE Name: Age: Address: Q.1. Do you have any knowledge regarding globalisation? Yes No Q.2. Is there role of government in process of globalisation ? Agree Disagree Q.3. Is it essential for Tesco to maximise its resources while expanding business at global
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level ? Yes No Q.4. What are the benefits of globalisation to Tesco? Landscape economical scales Free Trade Desired marketplace Q.5. Do you think globalisation affects the country's economy ? Yes No Q.6. What are various resources at the time of globalisation which are required for Tesco ? Technical resources Financial resources Q.7. Does globalisation leads to providing employment to individuals ? Agree Disagree Q.8. What are the different problems in globalisation? Organisational structure Ethical business practices Public relationship Q.9. What are the main functions when operating globally? Implementation of advance technology Provide training to employees Manage required resources and funds Q.10. Does globalisation affects the world civilisation ? Agree Disagree Q.11. What are different ways of globalisation ? International trade Eliminating trade barriers and issues
Foreign direct investment Q.12. Any suggestions......................? QUESTIONNAIRE Q.1. Do you have any knowledge regarding globalisation? FREQUENCY Yes35 No5 Q.2. Is there role of government in process of globalisation ? Agree27 Disagree13 Q.3. Is it essential for Tesco to maximise its resources while expanding business at global level ? Yes38 No2 Q.4. What are the benefits of globalisation to Tesco? Landscape economical scales15 Free Trade10 Desired marketplace15 Q.5. Do you think globalisation affects the country's economy ? Yes30 No10 Q.6. What are various resources at the time of globalisation which are required for Tesco ?
Technical resources22 Financial resources 18 Q.7. Does globalisation leads to providing employment to individuals ? Agree35 Disagree5 Q.8. What are the different problems in globalisation? Organisational structure20 Ethical business practices15 Public relationship5 Q.9. What are the main functions when operating globally? Implementation of advance technology25 Provide training to employees10 Manage required resources and funds5 Q.10. Does globalisation affects the world civilisation Agree29 Disagree11 Q.11. What are different ways of globalisation ? International trade23 Eliminating trade barriers at International trade10 Foreign direct investment7 DATA ANALYSIS AND INTERPRETATION
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Q.1. Do you have any knowledge regarding globalisation?FREQUENCY Yes35 No5 Interpretations:- From above graphical representations, it has been assumed that concept of globalisation is beneficial in expanding business operations in global market. Globalisation provides a platformforhavingeffectivecommunicationandinteractionsbetweendifferentnations. Therefore, through globalisationmost of firmshave unique identityin specificindustry. Furthermore, it has been analysed that 35 respondent have some knowledge about globalisation, whereas 5 respondent does not have much knowledge in globalisation. Q.2. Is there role of government in process of globalisation ? Agree27 Disagree13 35 5 Yes No
Interpretations- From above graphical analysis, it is necessary that there should be systematic legal procedure design by government on every firm, to perform business activities at local and global market place (Oberlander, Disdier,and Etilé, 2017). Therefore, while have interactions 27 respondent agreed that government plays an essential role in enhancing economic stability of target nations. As per current legal framework almost every nations have defined legal structures that are mandatory for firms to follow, to sustain business in competitive environment. Whereas, 13 respondent think that interference of government might slow down flow of business activities in different nations. Q.3. Is it essential for Tesco to maximise its resources while expanding business at global level ? Yes38 No2 Interpretations- From above graphical representations, it has been seen that optimal utilisation of resources are necessary to create effective balance between cost incurred and revenues generated on product or service been offered to primal or existing customer in overseas market. Every organisations must adopt resources, to manage and maintain business operations in working environment. While analysing feedbacks, 38 respondents agreed that Tesco should use each 27 13 Agree Disagree
resource in effective and appropriate manner, so that maximum profit margin are attained by an organisation in retail industry (Tena, 2017). On other hand, remaining 2 respondent believed that tesco does not requires extra resources for enhancing business. Q.4. What are the benefits of globalisation to Tesco? Landscape economical scales15 Free Trade10 38 2 Yes No
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Desired marketplace15 Interpretations:- As per above graphical representations, it has been visualised that there are several benefits of globalisation to tesco firm, in successfully growing business international market.Someofadvantagesthatfirmcapturesarelandscapeeconomicalscale,desired marketplace and free trade, while adopting concept of globalisation. Furthermore, it has been analysed that 15 respondent agreed that implications of globalisation have been fruitful in increasing economies of scale, while 10 respondent said that globalisation made free trading easy and remaining 15 respondent said that now firm can grow their business in desired target place at different geographical locations. Q.5. Do you think globalisation affects the country's economy ? Yes30 No10 15 10 15 Landscape economical scales Free Trade Desired marketplace
Interpretations:-Fromabovediagrammaticrepresentation,ithasbeenanalysedthat30 respondent believed that globalisation have huge influence on economies of different nations. As taxes imposed on import and export of commodities have direct impact on price on goods (Bende-Nabende,2017). While remaining, 10 respondent said that globalisation does not affect economies of scale, as most of firm want to expand business in local market. Q.6. What are various resources at the time of globalisation which are required for Tesco ? Technical resources22 Financial resources 18 30 10 Yes No
Interpretation:- From above graphical representation, it has been analysed that technical and financial resources are required for growing business in global market. Thereafter, in regards with tesco firm, 22 respondent believes that management should consider both these factors in order to operate business activities in systematic manner in local and overseas market. Whereas, 18 respondent said that they have have much knowledge about business, as they are geving their services in private or government firms. Q.7. Does globalisation leads to providing employment to individuals ? Agree35 Disagree5 22 18 Technical resources Financial resources
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Interpretations: From above graphical representation, it has been analysed that globalisation provideaplatformforemployingindividualatdifferentpreferredlocationwithinan organisations. Globalisation allow individuals to improve their performance in work and have career development at global market place (Potrafke, 2015). Furthermore, 35 respondent agreed that tesco firm should give their employee an opportunity to grow their career at their desired geographical locations. On other hand, 5 respondent said that globalisation does not leads to provideemployeeopportunitytoindividuals,duetogovernmentinterferenceinlegal procedures. Q.8. What are the different problems in globalisation? Organisational structure20 Ethical business practices15 Public relationship5 Interpretation: From above stated graph, it was questioned to respondents about different problems related to globalisation 20 respondents believed that structure of organisation will be a 35 5 Agree Disagree
problem. Other 15 of them felt ethical business practises can also be a problems and remaining 5 respondents had a view that public relationship can also act as problem in this. Q.9. What are the main functions when operating globally? Implementation of advance technology25 Provide training to employees10 Manage required resources and funds5 Interpretation: From above graph it can be concluded that main functions while operating globally, 25 respondents felt that implementation of advance technology is most important. Only10 employees believed that providing training to employees will be main function and rest 5 respondents felt that management of funds and resources can be considered as main functions. 20 15 5 Organisational structure Ethical business practices Public relationship
Q.10. Does globalisation affects the world civilisation Agree29 Disagree11 25 10 5 Implementation of advance technology Provide training to employees Manage required resources and funds 29 11 Agree Disagree
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Interpretation: Above graph it is depicted that, when it was asked to 40 respondents about how can globalisation affect civilisation in world then majority of them 29 respondents gave positive answer to this (Perraton, 2019). Remaining 11 respondents disagreed that globalisation could lead to civilisation. Q.11. What are different ways of globalisation ? International trade23 Eliminating trade barriers at International trade10 Foreign direct investment7 Interpretation – From above graph, it can be interpreted that on asking to 40 respondents about different ways through which globalisation can be done 23 had a view that international trade can help in that, 10 hold a view that trade barriers should be eliminated and only 7 feel that foreign direct investment can help in process of globalisation. 2310 7 International trade Eliminating trade barriers at International trade Foreign direct investment
RESEARCH OUTCOMES Globalization brings different technology and trends which are helpful for the company to adopt. If Tesco is adopting new trends and technologies than the operations of Tesco will be improved. Globalisation helps the organisation in cutting cost of inventory and continuous improvement of the company (Perraton, 2019). Tesco is advised to update products and services according to the changing behaviour of customers. This is analysed from the above data that globalisation helps in expanding business operations in another country for gaining higher growth and success. REFELECTION AND RECOMMENDATION On the basis of above given report, it can be recommended that globalisation is an essential concept that helps in expanding functions and operations of business for acquiring growth and success of the company. Globalisation will help Tesco in achieving goals and objectives of the company. This will help Tesco to enter in new market place for attracting large number of buyers. This will help the company in operating and regulating the business operations and increasing profitability andincome. It can be recommended that globalisation is helpful in building healthy relationship with other individuals of the country and doing business with them effectively. Globalisation helps in seeking attention of both domestic and international buyers. CONCLUSION As per the above described report, it can be concluded that Globalisation is the process of free movement of products, services and people in all over the world in integrated manner. It is the process of interaction and integration among people, organisation and government in worldwide. Tesco should expand it's business globally for increasing the profits and growth of the company. By the help of globalisation, companies can develop effective strategies and plans for achieving the goals and objectives in given time frame. It is important for the firm to analyse culture and customs of country before entering into it's marketplace.
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