A study on the role of globalisation in driving business success
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This study examines the role of globalisation in driving business success, focusing on Vodafone PLC. It explores the concept of globalisation, factors that contribute to business success, benefits of globalisation, and measures for organisational success. The study aims to provide insights into the impact of globalisation on growth and development.
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Table of Contents TITLE:.............................................................................................................................................1 INTRODUCTION...........................................................................................................................1 Overview of research..................................................................................................................1 Background of the organisation..................................................................................................1 Aim:.............................................................................................................................................2 Rationale of the study..................................................................................................................2 Gantt chart...................................................................................................................................2 LITERATURE REVIEW................................................................................................................4 Concept of globalisation.............................................................................................................4 Factors of globalisation which assist in business success of association....................................4 Benefits of globalisation for company........................................................................................5 Measures through which global platform can use for organisational success of enterprise.......6 RESEARCH METHODOLOGY.....................................................................................................7 DATA ANALYSIS........................................................................................................................11 Data interpretation.....................................................................................................................13 RESEARCH OUTCOME..............................................................................................................22 REFLECTION&RECOMMENDATIONFORALTERNATIVERESEARCH METHODOLOGY........................................................................................................................23 Reflection..................................................................................................................................23 Recommendations.....................................................................................................................23 CONCLUSION..............................................................................................................................24 REFERENCES..............................................................................................................................25
TITLE: A study on the role of globalisation in driving business success . A case on Vodafone PLC, Wembly central. INTRODUCTION Overview of research Globalisation refers to the expansion of business out of geographical boundaries with determining and understanding rules and regulations associated with it. Globalisation will be successful when rules and regulations are formed properly. With change in business activities, it is essential for organisation to determine and understand changes which are taking place in external market. Globalisation assist in increasing sales because when operations are performed with full efficiency, then consumer satisfaction can be achieved(Crane and et. al., 2019). There is requirement of change in operations, then business activities are performed with due care and effectiveness. There is requirement of determining and evaluating changes properly because businessenvironmentofinternationalmarketisdynamicandfrequentlychanging.This investigation is based on Vodafone PLC which provides telecommunication services in different parts of country. There will study of market and changes which are taking place in market, so growth prospects of association will more. Background of the organisation Vodafone PLC has good brand image in telecommunication and serving consumers with best. There is change in business operations because of change in demand of consumer with change in geographical regions. Telecommunication sector is growing with fast speed because people are availingthese serviceswith higher rate. These days, there is requirement of telecommunication services to consumers such as internet services, Wi-Fi, roaming, etc. These demand areas rising among every age group consumers, so it will be easy for people to determine and understand policies properly. When expansion of business operations will be done at international level, then it is easy for people to determine and understand changes properly (Knight and Liesch, 2016). Business expansion of Vodafone PLC is not easy task, because there is requirement of support and coordination among different departments. There are many departments which are working in Vodafone PLC such as marketing, administration, sales, HR 1
etc. When operations are performed at global level, then it will be easy for people to understand and determine changes properly. Aim: To gather knowledge about the role of globalisation in driving business success. A study on Vodafone PLC. Research objectives ď‚·To study the concept of globalisation and its role in driving business success. ď‚·To determine the factors of globalisation which assist in business success of association. ď‚·To ascertain the benefits of globalisation for company. ď‚·Recommend the measures through which global platform can use for organisational success of enterprise. Research questions ď‚·Do you have knowledge about globalisation? ď‚·What are the factors of globalisation which assist in business success of association ? ď‚·What are the benefits of globalisation for company ? ď‚·What are some ways through which global platform can use for organisational success of enterprise ? Rationale of the study The main reason behind conducting this study is to evaluate and determine importance of globalisation in current market. There are many changes which are specific and relevant because this is the best way to evaluate and understand impact of globalisation on growth. With expanding business in other countries, it is not possible to get success, there are some factors which has to be evaluated. With the help of this study, there will study of researcher is able to improvetheirknowledgeaboutglobalisationandaspectsassociatedwithit(CharlesJr, Schmidheiny and Watts, 2017). Globalisation is the topic, which is related to study stream of researcher, so in future, if they operate in similar sector, then it will be easy for people to get success in corporate sector. Researcher will get to know about changes which are taking place in external market, then they came to know about working style of organisation. 2
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Gantt chart Gantt chart is the pictorial description of research activities with their respective time. In order to evaluate and determine time required to complete the study, there will ease in completing study on time(Rodrik, 2018). There is representation with graphs, so it will be easy for team mates to complete the study and achieve targets on time. 3
ACTIVITESWEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6 WEEK 7 WEEK 8 WEEK 9 WEEK 1 0 Submissionof research proposal Complete background informationfor research project Collect secondary sourcesof informationfor research project Completeresearch methodologyandcollect primaryandsecondary sources of information Complete collecting data for studyand present the result Determining Budget Data Interpretation and analysis Evaluating results and findings 4
Completethe report and submit the final report LITERATURE REVIEW Literature review is the section under which information collected from secondary information will be evaluated. It is important for researcher to understand and evaluate complete information about globalisation and its impact on growth a development(Steger, 2017). Data which is collected from secondary information is authentic and properly dated, hence it will be easy for reader to rely over it. Concept of globalisation Globalisation is the process through which information product and services are delivered beyond geographical regions. With globalisation of business operations, there will more scope of growth and development of organisation(Ritzer and Dean, 2015). Managers of company have to determine what is the demand of consumers and understand ways to satisfy it. When actions are performed according to demand of consumers, then satisfaction can be provided. There are many associations dealing in telecommunication sector, hence it is important for people to understand and determine changes properly. As per view of Fredrik Erixon, 2019 Globalisation is not only beneficial for association, but it also boosts the operational efficiency of host and foreign country. With change in business activities, managers of organisation have to determine and evaluate changes properly. There is change in demand of consumers because telecommunication services are required by every age group consumer. In order to evaluate and determine policies of other country, managers of enterprise must undertakeand evaluateactionsproperly. Associationcan getpositiveimpactbecauseof globalisation when they evaluate and understand market properly. There is requirement of legal expertise who provides information about changes in policies of various countries. Globalisation of association assist in business growth because of increment in sales and profits. It is important for managers of enterprise to maintain good quality of telecommunication services, so consumers will become brand loyal and does not switch to another brand(Eriksen, 2018). 5
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Factors of globalisation which assist in business success of association Globalisation is the best way through which operational efficiency of organisation improves and it will be easy for manager to determine and evaluate best ways to get positive results. As per view of Smriti Chand, 2019 There are some factors as well with which globalisation is better and effective and scope of working for association will increase. There are some factors with which business success is possible- Technological development- When company is working at international level, then they have to accept technological changes which are taking place in different countries. There are different techniques and tools with which new aspects are used(Hair Jr, Page and Brunsveld, 2019). With difference in geographical region, there will use of updated technology. Hence this assist in getting growth and expansion in new market. Competition- There is increment in rate of competition when managers of association is working in different countries. There will achievement of business objectives when Vodafone PLC will operate with local associations. As managers of Vodafone PLC wants to operate in some other country, then it is important that they must make strategies for to overcome with it. For instance: consumers wants fast internet services, then managers of enterprise have to provide super fast services at cheap rate. This assist in getting growth and easy expansion in international market. Availability of resources- Thee is requirement of many sources with which individuals can perform operations at international level. Vodafone PLC requires financial, labour, technical, etc. resources for smooth running of business in new market. When resources are properly available in global market, then it will be easy for organisation to operate and get proper outcome with it. When resources are properly available, then smooth running of operations will be possible. Benefits of globalisation for company With globalisation of operations, scope of working improves and enhances but at the same time cost also increases. There are possibilities that in some cases operational efficiency can be affected if managers does not follow and rely over external policies(Post and Berman, 2017). As per view of Tejvan Pettinger, 2019 company can enhance sales and profits, if they perform operations as per policies of legal terms and conditions. There are some benefits which Vodafone PLC will get with performing operations at international level. 6
Economies of scale- With conducting operations in many countries, organisation is able to attain economies of scale because when production of services is for wide base of consumers, then cost of production will also get reduced. With economies of scale, cost of production per unit gets reduced, hence rate of profit gets improved. Increment in global investment- With operating at international level, company have invested money in many countries. This makes their presence in different countries; hence it is easy to know about political policies of the association. When investment is at global level, then there is support from political parties as well which is fruitful for maintaining long term existence in international market(Adekola and Sergi, 2016). Free trade- There is more scope of conducting operations when association is working at international level. With performing operations at international level, association can operate and perform activities freely in different parts of countries. There is change in business activities because with change in geographical region, individual's demand also gets altered. Measures through which global platform can use for organisational success of enterprise It is not easy these days to operate in industry and get positive revert from it because of change in dynamic characteristic of business environment such as frequent change in technology, alterations in consumer demand, more competition, etc.(Elegbe, 2016). according to Albert Subbloie, 2019 There is requirement of understanding about external market because with it, positive impact can be achieved. There are some ways which assist in getting positive impact such as regular market analysis, proper planning, communication with employees, training of employees, use of motivational techniques, etc. With the help of these strategies possibility of growth for company will be more because managers are conscious and properly acknowledged with understanding external market. There is ease in conducting operations when employees have complete and specific knowledge about conducting operations. There is important role of managers to evaluate motivational techniques with which they can motivate employees to give best. When employees are motivated then they will give more appropriate services to consumers. Managers has to determine the changes which are occurring in consumers demand. Marketing is the best way through which consumers in new market can be communicated about product and services and this attracts them to avail services. In marketing, real value as per requirement of consumers, so they will be excited for availing new service. 7
RESEARCH METHODOLOGY Research methodology is the section which consist of techniques which are considered in conducting this study. There will use of many tools and techniques with which research activities are authentic and relevant(Bereznoi, 2015). With studying tools, reader came to know about relevance of it in study. Some tools and techniques which are sued in this study are as under- Research philosophy-Research philosophy refers to analyse systematic way to complete the study and achieving aim and objectives. There are three methods of positivism, interpritivist and pragmtism. In order to make this study authentic and reliable, researcher will use pragmatist philosophy. This philosophy is relevant because researcher is getting a justified way to conduct and complete the study. Researchapproach-Inresearchapproach,methodsandfactorswhichhastobe considered for completing the study are evaluated. There are two types of approaches i.e. deductive and inductive. In this study, there is use of inductive approach(Taneja, Sewell and Odom, 2015). In this approach, initially researcher focus on complete information about globalisation and then after collecting information focus on its impact on sales and profits and organisational growth and development. Research design-There is some specific design in which study will be conducted. There is complete and specific information to reader when they use it properly and evaluate ways to complete the study. Descriptive research design is best way to conduct the study because in this there is detail description about systematic way to complete the study. Research method-With use of specific method to complete the study, researcher can use qualitative and quantitative method. For this study, researcher used qualitative method because this method more focus on human prospective in relation to impact of globalisation in sales and income(Parente, Geleilate and Rong, 2018). In this method, there is no use of technical information, hence it will be easy for researcher to represent information properly. Data collection method-Research is investigation about some specific topic and topic conclusions and recommendations over it which assist in getting positive outcome, so there is requirement of information collected from different sources. There are two sources which which researcher can collect information i.e. primary and secondary sources. Primary information is collected from individuals who have information about globalisation. Hence primary information is collected from employees of Vodafone because they have complete and specific information 8
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about expansion and its impact on sales and profits. While secondary information is collected from online sources for this study. With use of secondary source researcher will get to know about globalisation properly and in appropriate manner(Hitt, Ireland and Hoskisson,2016).50 employees are selected for collecting view about globalisation because they have knowledge about performance of association.Questionnaire for collecting primary information is as under- Questionnaire Name: Employee Id: Gender: Q1. Do you feel that operating at international level lead to business expansion? Yes No Q2. Which of the following parties are involved in smooth operational performance at international level? Employees Government Management Q3. What is the impact of globalisation on sales and revenue of Vodafone PLC? Positive Negative Q4. What are the factors which affects success rate of Vodafone PLC when it is operating at international level? Competition Cost of expansion Availability of resources Q5. What are the advantages for Vodafone PLC of operating at international level? Increment in sales and revenue More growth scope Compete with international brands Q6. What are the challenges managers of Vodafone PLC facing while operating at global 9
level? Dynamic market High expansion rate Strict rules and regulations Q7. Mention some ways through which positive impact of operating at international level can be achieved? Proper market analysis Communicate to workforce Hiring of expertise Q8. Is there requirement of training sessions for workforce of Vodafone PLC through which they can operate successfully at international level? Yes No Q9. What are the components which gets affected with planning operations at international level? Brand image Satisfaction of consumers Accounting policies Q10. Recommend some ways through which positive outcome with expansion of Vodafone PLC can be achieved. Research sampling-Sampling is the procedure for sorting some individualsfrom targeted crowd for collecting primary information through questionnaire. There are two types of sampling method i.e. probable and non-probable(Surugiu and Surugiu, 2015). In this research simple random probable sampling method is used because there will nil possibility of partiality in collecting information. Research ethics-Thereareethicsprospectswhichhastobeconsideredsuchas confidentiality and anonymity. Under confidentiality, information about outcome of research are communicated with individuals who have knowledge about it. But researcher communicate and interact with individuals who have knowledge about it(Telò, 2016). While anonymity is maintained by not sharing personal information of respondents. 10
Research reliability and validity-This study is conducted in reliable and authentic manner with considering all the aspects. It is not easy for researcher to understand and determine ways to complete the study(Epstein, 2018). But all the standards and protocols are evaluated properly. 11
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DATA ANALYSIS Data analysis refers to the process of determining systematic presentation of data which is collected from primary and secondary sources. For data analysis, there will use of thematic analysis because with this method, it will be easy for people to understand hat is being asked because question is provided in brief as themes. For collecting primary information questionnaire will be collected and information is collected from 50 employees of Vodafone PLC. Q1. Do you feel that operating at international level lead to business expansion? Interpretation Yes20 No10 Q2. Which of the following parties are involved in smooth operational performance at international level? Interpretation Employees17 Government6 Management7 Q3. What is the impact of globalisation on sales and revenue of Vodafone PLC? Interpretation Positive23 Negative7 Q4. What are the factors which affects success rate of Vodafone PLC when it is operating at international level? Interpretation Competition11 Cost of expansion9 Availability of resources10 12
Q5. What are the advantages for Vodafone PLC of operating at international level? Interpretation Increment in sales and revenue12 More growth scope10 Compete with international brands8 Q6. What are the challenges managers of Vodafone PLC facing while operating at global level? Interpretation Dynamic market10 High expansion rate11 Strict rules and regulations9 Q7.Mentionsomewaysthroughwhichpositiveimpactof operating at international level can be achieved? Interpretation Proper market analysis10 Communicate to workforce15 Hiring of expertise5 Q8. Is there requirement of training sessions for workforce of Vodafone PLC through which they can operate successfully at international level? Interpretation Yes22 No8 Q9. What are the components which gets affected with planning operations at international level? Interpretation Brand image10 Satisfaction of consumers15 Accounting policies5 13
Q10. Recommend some ways through which positive outcome with expansion of Vodafone PLC can be achieved. 14
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Data interpretation Theme 1: Operating at international level lead to business expansion Q1. Do you feel that operating at international level lead to business expansion? Interpretation Yes20 No10 Interpretation- For getting success in international market, it is important to get some positive outcome with it. As per view of 20 employees, there will expansion of business when organisation is operating at international level because of getting more sales and profits. While remaining 10 workers of Vodafone PLC says that no there is no impact on growth and success rate of organisation. So, it is interpreted that organisation can grow when they have international working style. Theme 2: Parties involved in global expansion 15 YesNo 0 2 4 6 8 10 12 14 16 18 20 20 10 Interpretation
Q2. Which of the following parties are involved in smooth operational performance at international level? Interpretation Employees17 Government6 Management7 Interpretation-In order to operate at international level, managers of Vodafone PLC requires assistance from many parties such as workforce, managers, government, legal expertise, etc. According to 17 individuals, employees plays important role, 6 workers have view that government plays important role and remaining 7 people says management of Vodafone PLC is important for making decisions. Hence it is interpreted that there is requirement of different individuals, but major role is played by employees because they are source with which management can communicate to consumers and they will operate in other countries. Theme 3: Impact of globalisation Q3. What is the impact of globalisation on sales and revenue ofInterpretation 16 EmployeesGovernmentManagement 0 2 4 6 8 10 12 14 16 1817 6 7Interpretation
Vodafone PLC? Positive23 Negative7 Interpretation-Globalisationreferstotheprocessthroughwhichoperationsof association are performed apart from boundary. There are possibilities that it will give positive or negative impact on operations. As per view of 23 individuals, there will positively impact because sales and brand image of Vodafone PLC will get rise. But remaining 7 employees says that there will negative impact because there is change in working style, hence if workers are not able to perform operations properly, then this affects presence in market. So it is interpreted that Vodafone PLC will get positive impact because they are working with proper planning and corrective actions will be taken in case of negative influence. Theme 4:Factors which affects success rate ofVodafone PLC when it is operating at international level Q4. What are the factors which affects success rate of VodafoneInterpretation 17 PositiveNegative 0 5 10 15 20 2523 7 Interpretation
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PLC when it is operating at international level? Competition11 Cost of expansion9 Availability of resources10 Interpretation- In order to operate in industry, external market factors are affecting in negative manner because there are some components which affects operations. As per view of 11 employees, competition in specific geographical region is affecting majorly. 9 employees says that cost of expansion is other factor which affects operations. Remaining 10 employees have view that availability of resources is also important because this might affect activities at international market. Hence it is interpreted that level of competition and availability of resources are major factors which affects operations in negative manner. Hence managers of Vodafone PLC have to determine these factors, so they can perform activities in better manner. Theme 5: Advantages for Vodafone PLC of operating at international level 18 Competition Cost of expansion Availability of resources 0 2 4 6 8 10 1211 9 10 Interpretation
Q5. What are the advantages for Vodafone PLC of operating at international level? Interpretation Increment in sales and revenue12 More growth scope10 Compete with international brands8 Interpretation-There are some advantages which Vodafone PLC will face when they are working at international level. There is requirement of change in operations because f difference in consumer preferences. As corporate people want super-fast internet services for conducting their operations, while for domestic use people want cheap rate telephonic services. If these services and preferences are satisfied by managers, then there will increment in sales as per view of 12 individuals. 10 workers of Vodafone PLC have view that there will more scope of growth and diversification of business will also possible. Remaining 8 people says Vodafone PLC is able to compete with international brand, hence there service quality will also improve. Theme 6- Challenges arise in operating at international level Q6. What are the challenges managers of Vodafone PLC facing while operating at global level? Interpretation Dynamic market10 High expansion rate11 Strict rules and regulations9 19
Interpretation- Merely operating in international market does not give positive impact on organisational growth and development. There are some challenges as well such as frequent changes in technology, difference in consumer demand, etc. As per view of 10 individuals, there is dynamic market components which affects operations negatively, 11 workers have view that there is high expansion cost such as interest rate of bank is high, due to which workers are able to complete and conduct operations. 9 individuals have view that there are strict rules and regulations due to which operations are not performed in systematic manner. It is interpreted that major challenge is high cost of expansion and dynamic business environment due to which there is requirement of change in operations as well. Theme 7: Ways to get positive impact with internationalisation of operations Q7.Mentionsomewaysthroughwhichpositiveimpactof operating at international level can be achieved? Interpretation Proper market analysis10 Communicate to workforce15 20 0 2 4 6 8 10 12 12 10 8 Interpretation
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Hiring of expertise5 Interpretation- There is requirement of complete and specific information with which people can understand and evaluate ways to get positive impact on organisational growth. As per view of 10 employees of Vodafone PLC, market analysis where business has to expand is possible, 15 individuals have view that with regular communication with employees, it is easy to know what changes are required. With change in business activities, there will ease in getting greater scope and for working. While remaining 5 candidates have view and idea hat with hiring expertise personnel, it will be easy for people to determine and understand ways to evaluate position properly. Theme 8: Requirement of training session Q8. Is there requirement of training sessions for workforce of Vodafone PLC through which they can operate successfully at international level? Interpretation Yes22 No8 21 Proper market analysis Communicate to workforce Hiring of expertise 0 2 4 6 8 10 12 14 16 10 15 5Interpretation
Interpretation-The main and core role in expansion of business is of managers and employees. Managers have to direct and guide employees to complete the task. Hence as per view of 22 employees, there is requirement of training to workers, so they can conduct their operations properly. But remaining 8 workers says there is no requirement of training because workers does not take training session compulsory, and this affects operations in negative manner. Theme 9: Components affects with planning operations for international level Q9. What are the components which gets affected with planning operations at international level? Interpretation Brand image10 Satisfaction of consumers15 Accounting policies5 22 YesNo 0 5 10 15 20 2522 8 Interpretation
Interpretation-Globalisation and expansion of business by Vodafone PLC is not possible without understanding and evaluating changes properly which has to take in operating at international level. There are some components which gets affected with expanding business out of geographical regions. 10 employees have view that brand image of Vodafone PLC will gets boosts, hence it is important to perform activities properly. 15 employees have view that satisfaction of consumers also improves because when managers of Vodafone PLC provide better services to consumers, then it is easy for them to trust over the brand. Remaining 5 individuals have view that accounting policies also gets changed because there is difference in accountingprocedure,hencethereischangeinaccountingsystem.itisinterpretedthat satisfaction level of consumers gets positively affected because consumers are providing product and services as per demand of current market. 23 Brand image Satisfaction of consumers Accounting policies 0 2 4 6 8 10 12 14 16 10 15 5 Interpretation
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RESEARCH OUTCOME After conducting this investigation, it is communicated to stakeholders that with working at international level, there is improvement in organisation because consumer base gets improved hence sales and profits gets improved. With change in business activities, there will impact on working style of association. In telecommunication sector, there is difference in demand of consumers as per occasion geographical region, demographical basis, etc. hence it is important for managers of Vodafone PLC to understand and evaluate changes properly, then provide services to them. As in international market, there are many organisations working, hence it is tough for Vodafone PLC to compete with them. It is communicated that there are some issues such as change in demand of consumers, strict rules and regulations, etc. to organisation in operating at international level, but if proper and due care is taken, then it will be easy for association to expand and operate. There is requirement of hiring legal personnel, with which regulations can be fulfilled and actions will be performed as per requirement. With the help of information, it is evaluated that for providing growth to the association, managers might have to determine external market and they must understand and evaluate proper marketing strategies. Thee will increment in sales and revenues of association by improving quality of products and services. There is change in demand of consumers, hence it is essential to determine and evaluate policies properly as per view of 12 individuals. When change in activities are appropriate and specific, then it is easy for mangers to excel in international market. 22 individuals have view that there is requirement of training of workers through which it is easy for association to maintain good image in the industry. This information is communicated with the help of power point presentation because this is the innovative way to communicate with workers and it is easy for researcher to show data interpretation section properly. When information is represented to reader, then they can study aim and objectives easily, so they get to know about whole study properly. 24
REFLECTION&RECOMMENDATIONFORALTERNATIVE RESEARCH METHODOLOGY Reflection Withconductingthisinvestigation,Igainknowledgeaboutwaysthroughwhich globalisation of business is possible. I am able to improve my knowledge about expanding business and factors which I have to be taken care. There is change in operations because of determination and frequent change in external market. In future, I am going to take care about market rules and regulations such as availability of resources, proper planning for financial resources, etc. with which I am able to conduct activities properly. There are some changes which I faced while conducting research operations. I am able to improve my leadership and communication skills because I have to communicate individuals regarding completing their tasks. I also collect primary information from workers of Vodafone PLC; hence I am able to manage time for collecting data. I get to know about tools and techniques which has to be used while conducting study.I used primary and secondary sources of information as questionnaire and internet sources respectively for completing this study in better and appropriate manner. I feel there is lack of time for completing this study because collecting primary information requires more time for completing it. Recommendations In ordertoexpandbusinessinindustryand operatebeyondgeographicalregion, managers of Vodafone PLC have to conduct proper planning and acknowledge that resources must be availablereadily.There aresome recommendationswith whichperformanceof Vodafone PLC at international market will get positive result- There must be hiring of local employees for subordinate level, hence it will be easy for managers to determine what is the demand of consumers. It will be easy to maintain familiar and positive relations with consumers, hence growth prospects for Vodafone PLC in international market will be more. As there is frequent change in consumer demand, hence there must be regular market analysis with which it is easy for people determine what changes are requirements. If there is negative comments from consumer's side, then managers have to take actions to deal with it. 25
Cost of expansion must be justified initially while staring business operations in any new market. There is requirement of different resources with which individuals have to determine and estimate changes properly. There must be planning for raising funds from different sources, so operations of Vodafone PLC does not get halt. In future, if similar research is allotted then it is recommended that information will be collected through secondary sources because this assist researcher to get overall view about research topic. If some tough topic is allotted, then focus group can be used because this gives information about behaviour of respondents about topic. 26
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CONCLUSION From conducting this study, many new factors and components are studied about globalisation of business. When there is change in business activities, then it is essential for tanagers of organisation to understand it and implement it properly. There will positively impact on growth rate because consumer base is increasing but at the same time, there is requirement of proper change in working as per requirement of consumers. Researcher came to know that regulations are strict, hence hiring of legal advisor will fruitful because this provides complete knowledge about laws and regulations. There is crucial role of managers and employees in successfully globalisation of operations. In order to evaluate and make changes in product and services,consumer'spreferenceshavetobeevaluatedproperly.Thereisrequirementof employees, technical assistance, financial assistances, etc. with which operations at international level will be conducted properly. So, it is clear that managers have to conduct planning properly and complete task as per external market. 32
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