Research Project

The chosen company has to be based in UK, related to accountancy and finance pathway.

RESEARCH PROJECT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
P1 Producing research proposal for the project defining aim and objectives of research
supported by literature review.....................................................................................................1
Research Proposal.......................................................................................................................1
Rationale of the Research............................................................................................................2
Literature Review........................................................................................................................2
Research Methodology...............................................................................................................4
Research Time Plan....................................................................................................................5
P2 Examining research methods and approaches for primary and secondary research..............6
P3 Conducting primary and secondary research by considering costs, access and ethical issues
.....................................................................................................................................................7
P4 Applying appropriate analytical tools and research findings.................................................8
P5 Communicating outcome of research to audience.................................................................9
P6 Reflect on effectiveness of research methods applied in research study.............................22
P7 Considering alternative research methodologies in view of the outcomes..........................23
RECOMMENDATIONS...............................................................................................................24
CONCLUSION..............................................................................................................................24
REFERENCES..............................................................................................................................26
APPENDIX....................................................................................................................................28
Research Proposal Form...........................................................................................................28
Research Ethics approval form.................................................................................................34

INTRODUCTION
Globalization has influenced business as international trade has become possible.
Through globalization, business is able to attain higher profits but at the same time, challenges
are also evolved by expanding internationally. Present research study deals with the aim to
analyse how globalization drives business success in maximizing profits in accountancy and
finance sector by taking Legal & General Plc which is oldest and largest organisation in financial
services' sector based in the UK. Research proposal will be formulated in which objectives, aim,
research questions and rationale will be discussed. Review of literature will be supported with
the study and research methodology will be conducted. Research time plan will be made
showing when will project be completed.
Furthermore, secondary and primary sources will be used for getting research results.
Data analysis will be done and then communicated to intended audience. Reflection upon
effectiveness of research methods applied will be provided. Moreover, alternative research
methodologies that could have been implemented in view of outcomes will be enumerated.
Lastly recommendations will be imparted to Legal & General Plc on how it can enhance its
performance and attain more benefits of globalization for elevating towards success.
Topic- How globalization drives business success
P1 Producing research proposal for the project defining aim and objectives of research supported
by literature review
Research Proposal
Aim
“To analyse how globalization drives business success in maximizing profits in
accountancy and finance sector- A study on Legal & General Plc”
Objectives
 To assess the ongoing trend in accountancy and finance sector in the UK
 To analyse the influence of globalization in maximizing profits of Legal & General Plc
 To ascertain importance of globalization in enhancing overall performance of Legal &
General Plc in the market
 To recommend ways through which profits can be maximised of Legal & General Plc
1

Research Questions
Q1. What are the factors of globalization driving success of Legal & General Plc?
Q2. What is the importance of globalization to Legal & General Plc in the market?
Q3. Do globalization helps Legal & General Plc to maximize its profits?
Rationale of the Research
The main purpose of selecting globalization topic is that companies in recent times are
able to accomplish desired performance by accessing to global markets. Legal & General Plc is a
giant financial services company headquartered in the UK having multinational operations
worldwide. Reason for choosing the study is that how globalization is helping in attaining
success of organisation and how profits are maximized of the company (Claudiu. 2012). Another
reason for conducting this research is to analyse importance of globalization in increasing profits
in the best manner possible. The study will give useful insight for attaining the factors of
globalization driving success of Legal & General Plc.
Literature Review
Theme 1- Influence of globalization in maximizing profits
As per the views of Taylor (2017), globalization has been the key for businesses in
accomplishing desired profits by enlarging their scale of operations in worldwide. The customer
base has also raised and diversified needs are adequately met as wide choice of products and
services are being provided to them. Finance and accountancy sector has to focus on individual
client's needs and expectation which provides them clarity as to what financial products or
services are to be offered to intended customers. By meeting of individuals, company can easily
attain sales which is main driving factor of globalization. Needs of clients are to adhered by
business so that it may be able to elevate towards success and attain higher growth in the
international market by satisfying them with their ever-changing demand.
Schmukler and Abraham (2017) argued that globalization has increased demands and
needs of customers. They are demanding new insurance covers, life insurance with wide variety
of term periods and investment management. These wide range of demands are driving factor of
globalization and have to met by organisations for achieving maximum sales. Globalization has
effectively enhanced the way of doing business. This is because with the help of international
2

trade being possible, financial services are greatly in demand by individuals as they want to
invest in insurance schemes for gaining mutual benefits. Due to this, globalization has changed
the demand and needs of customers as varying schemes are demanded by them. Businesses have
to adapt to change in order to attain healthy growth in the market and outreach competitors. By
incorporating well-mannered strategies and providing innovate financial products, customers can
be gained and profits can be maximised.
Theme 2- Importance of globalization in enhancing overall performance
According to Steger (2017), globalization has benefited the financial system in the
economy which has automatically influenced industry and company as a whole. The
technological advancement in financial services is useful for customers from which they can
choose array of products as per their choice. Capital flows have become positive leading to
provide immense benefits to entire UK economy and attain balance of payment. This means that
by stabilising finance and accountancy services sector, overall performance of economy and
company gets maximized. Cross-border trade is the biggest advantage of globalization which has
helped businesses in attainment of more customers. It has automatically led to earn higher
market share in effectual manner. Access to new markets not yet exploited becomes
advantageous for business so as to earn profits by searching for customers across the globe.
Wuebker, Baumgarten and Koderisch (2017) says that finance and accountancy sector
has reached to higher heights with the help of globalization. Wide reach to customers in
international market has imparted healthy profits to company leading to enhance overall
performance in the best way possible. Moreover, various financial products or services are being
offered to customers through which they are attracting to avail services and become loyal
towards organisation. Importance of globalization has lead to increase performance of corporates
in terms of profits and customer base. The labour can be accessed at a cheaper prices which is
another importance of globalization in enhancing overall performance of company. Off-shoring
and outsourcing allow organisations to hire employees in foreign countries where labour rates
may be lower in comparison to business' home nation. This leads to decrease costs and increase
benefits for firm leading to adequate profits.
Theme 3- Factors of globalization driving success of businesses
3

According to Wan and et.al. (2016), major factor of globalization is technological change
which is the main reason behind influence of business to get in touch with customers quite
effectually. It means that insurance schemes being operated by financial services organisations
can gain benefit by utilising internet by registering on desired scheme from pool of insurance
covers. This provides company with access to international customers through the internet-
enabled services. It is quite useful for business as it has reduced cost of transmission and
information can be communicated with ease. However, Dwyer (2015) says that economies of
scale is accomplished in financial services' sector. If Minimum Efficient Scale (MES) is rising at
a rapid rate, domestic market may be identified as too small for satisfying selling needs of this
industry. In addition to this, saving in costs are gained by an increase in production level.
As per the views of Najam, Runnalls and Halle (2016), tariff policies are being reduced
which signifies that less protectionism is being enabled. In the past, import licensing and foreign
exchange controls have slowly been dismantled. Import tariff levels have constantly fallen. This
means that due to globalization, firms are able to gain more trade possible in countries where
government has lifted strict regulations for protecting domestic markets from foreign
competition. Furthermore, businesses are free to enter into financial services international market
with fewer tariffs being applied to foreign businesses. The factor of globalization has benefited
organisations in accomplishment of healthy profits and gain higher market share globally. The
globalization paves the way for minimising costs and maximising profits in the best way
possible. This has provided organisations with healthy benefits in terms of overall performance.
Research Methodology
Research Type-
The present research will be conducted by taking qualitative research type (Silverman,
2016). It will be appropriate to take in order to analyse driving factors of globalization in success
of Legal & General Plc in maximising profits.
Research Design-
There are two types of research design such as exploratory and descriptive. In present
research, exploratory research design will be chosen for exploring variables of globalization that
drives business success in effective manner.
4

Research Approach-
There are two widely used research approaches such as inductive and deductive. Present
research will be conducted by using inductive research which will help in analysing factors of
globalization that leads business towards success quite effectually.
Research Philosophy-
The research philosophy has basically two types such as positivism and interpretivism. In
current study, researcher will be use interpretivism philosophy which will help in identifying
theoretical framework regarding globalization with ease (Marczyk, DeMatteo and Festinger,
2017).
Sampling-
The simple random sampling method will be used by circulating questionnaire to 30
managers of Legal & General Plc as respondents. The viewpoints of 30 respondents will be used
so that research may be conducted in appropriate manner.
Data Collection-
There are two widely used sources such as primary and secondary used by scholar. Both
the sources will be used by the scholar in present research. For primary source, questionnaire
will be provided to respondents for getting their viewpoints. While, for secondary one, books,
journals, articles on the internet will be used.
Data Analysis-
The data analysis is another important element after data has been gathered (Walliman,
2017). In current research, thematic analysis will be used for carrying out data results in a better
manner. Themes will be produced on the basis of questionnaire and this will help in interpreting
results.
Research Time Plan
Activities (in
weeks) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Research
Proposal
5

formulation
Devising aim
and objectives
Research
Rationale
Implementing
appropriate
research
methodologies
Data collection
through
primary and
secondary
sources
Examine data
Interpreting
data collected
Conclusion and
recommendatio
ns
Submitting
draft
Modifying
report as per
feedback
Final
submission of
report
6

P2 Examining research methods and approaches for primary and secondary research
The research methods are to be applied so that researcher may easily conduct qualitative
research in the best manner possible. There are two sources of data from where information can
be gathered. These are primary and secondary. Primary data is first-hand data as researcher take
data through observations, circulating questionnaire or conducting survey for the purpose of
research. In relation to this, scholar has used questionnaire method of collecting primary data
from the respondents in a better manner.
Secondary research or source is termed as second-hand data as it was being collected by
researcher for some other purpose. If such matches with current research purpose, then it can be
used for applying support to research and attain concrete results (Kumar, 2019). For attaining
this, researcher has used books, journals, scholarly articles, articles on the internet from reliable
sources etc. This means that researcher can easily use both primary and secondary source of data
for accomplishing desired results.
P3 Conducting primary and secondary research by considering costs, access and ethical issues
Costs-
The cost in research study has to be incurred in order to complete research in short run. It
often includes facilities or indirect costs, compliance with laws etc. Moreover, it also includes
travelling expenses, stationery costs. However, conducting qualitative research seems to be
adequate for research into how globalization drives success of Legal & General Plc for
maximising its profits in accountancy sector. Further, low research costs are incurred as
qualitative research is cost-effective in comparison to quantitative one.
Access-
Access can be defined in the research that appropriate academic practices are taken for
conducting research in the best way possible. It means that researcher has taken all measures for
not to harm any sentiments of participants of research in conducting the same (Osborne and
Luoma, 2018). Moreover, proper permission or consent has been taken from them. They were
not forced to provide their viewpoints and no biasness was applied. Hence, access consideration
was taken into account by researcher.
Ethical issues-
7

The ethical issues are to be taken into consideration so that research may be conducted
with proper involvement of participants and no harm is done to them (Standing and Standing,
2018). Informed consent has been taken from respondents and they are not forced to answer the
questionnaire. Moreover, with written consent, participants have provided their viewpoints and
research has been conducted quite effectually.
P4 Applying appropriate analytical tools and research findings
Research Type-
The research type is consisted of two such as quantitative and qualitative. It can be
ascertained that for present study, qualitative research has been selected (Ledford and Gast,
2018). It is helpful because research can be undertaken by focusing on qualitative aspect that
how globalization drives business success for maximising profits in accountancy and financial
sector. This means that researcher is able to accomplish how globalization leads to success of
Legal & General Plc.
Research Design-
The research design provides overall schema of research study. It provides direction to
scholar for getting into research so that research may be executed in a better manner. There are
two types of research design out of which mainly used are exploratory and descriptive. In current
research, exploratory research design has been selected by scholar. This helps to ascertain
variables of study and to explore the same for study.
Research Approach-
Research approach is mainly of two types such as inductive and deductive approach. In
current research, researcher has used inductive research as study is of qualitative nature. It means
that with the help of inductive research, observation is taken and after that theories are proposed
at the end of research process (Quinlan and et.al., 2019). It helps scholar to effectively attain
appropriate conclusion of research in the best way possible.
Research Philosophy-
It is of mainly two types such as interpretivism and positivism. In current research,
interpretivism philosophy has been taken which helps to interpret data collected through
interviews, observation or questionnaire. Meaning usually arrives at the end of research process
8

in interpretivism philosophy (Bilau, Witt and Lill, 2018). Thus, interpretivism has used to
emerge how globalization drives Legal & General Plc towards maximising profits.
Sampling-
The sampling is required as data cannot be collected from entire population because it is
a time-consuming affair. For overcoming this, researcher has chosen simple random sampling
method by providing questionnaire to 30 managers which are respondents for the research. By
gathering their viewpoints, scholar can easily ascertain how globalization helps Legal & General
Plc to attain success and leads to increase in profits. Thus, simple random sampling technique
has been chosen for research purpose.
Data Collection-
The data collection is required for the research so that scholar may collect useful
information for accomplishing aim and objectives of study (Liamputtong, 2018). For present
research, both primary and secondary research has been undertaken by researcher. Questionnaire
are being provided to the participants or respondents. On the other hand, books, journals, articles
on internet have been used for serving secondary source.
Data Analysis-
The data analysis is another useful element of research methodology. It means that after
data collection, it has to be analysed for drawing meaningful conclusion. It can be said that
researcher has used thematic analysis on the basis which themes are prepared from questionnaire.
With the help of this analysis, concrete results are ascertained by scholar.
P5 Communicating outcome of research to audience
Data Analysis
Questionnaire
Name-
Age-
Gender-
Demographic profile-
9

Q1. Do you think that globalization leads to positively impact Legal & General Plc towards
success?
 Yes
 No
Q2. Among following benefits, which is most applicable to Legal & General Plc due to
globalization?
 Increase in profits
 Maximum productivity
 Increased customer base
 Maximised market share
Q3. Do you agree that cross-border trade has benefited Legal & General Plc to its maximise
profits?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q4. Do you agree that globalization has lead to lower down costs of financial services of Legal
& General Plc?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q5. Do you think that by globalization investment and asset management business of Legal &
General Plc has elevated?
 Strongly Agree
10

 Agree
 Strongly Disagree
 Disagree
Q6. Does competition increases because of global international trade to various nations by
Legal & General Plc?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q7. Do regulations implemented by Financial Services Authority of various nations affect
operations of Legal & General Plc up to a high extent?
 Yes
 No
Q8. Do you think that for remaining competitive Legal & General Plc is required to revamp
strategies and business model?
 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q9. Do globalization leads to attainment of wide reach to customers for offering financial
services?
 Yes
 No
Q10. Do you agree that demands of products of Legal & General Plc particularly of
international customers have changed due to globalization?
11

 Strongly Agree
 Agree
 Strongly Disagree
 Disagree
Q11. Kindly provide further suggestions for improving services................
Theme 1- Globalization has positive impact on Legal & General Plc
Q1. Do you think that globalization leads to
positively impact Legal & General Plc towards
success? Respondents
Yes 19
No 11
Total 30
12

Yes No
0
2
4
6
8
10
12
14
16
18
20 19
11
Respondents
Interpretation-
It can be interpreted from the above chart that business may be able to attain higher
profits in a better manner because of globalization. This is due to the fact that demands of
international customers are accomplished by providing them with diversified financial services.
Thus, majority of respondents have said in favour of the statement. On the other hand, remaining
11 respondents are not in favour of the statement and says that business is unable to have
positive impact of globalization on its operations. Thus, it can be justified that globalization has
better impact on company.
Theme 2- Increased customer base is major benefit of globalization
Q2. Among following benefits, which is most
applicable to Legal & General Plc due to
globalization? Respondents
Increase in profits 8
Maximum productivity 7
Increased customer base 10
Maximised market share 5
13

Total 30
Increase in profits
Maximum productivity
Increased customer base
Maximised market share
0
2
4
6
8
10
12
8
7
10
5 Respondents
Interpretation-
It can be analysed from the graph that 10 respondents said that customer base is increased
which is major benefit of globalization to Legal & General Plc. On the other hand, 8 respondents
believes that profits are increased of company. Another 7 participants said that maximum
productivity can be accomplished which is another benefit of globalization to company. While,
remaining 5 said that market share is maximized because of globalization of organisation. Thus,
it can be justified that due to wide reach to customers across borders, customer base is increased
as majority respondents have replied the same.
Theme 3- Cross-border trade has benefited firm
Q3. Do you agree that cross-border trade has
benefited Legal & General Plc to maximise its
profits? Respondents
Strongly Agree 10
14

Agree 7
Strongly Disagree 6
Disagree 7
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
10
7
6
7
Respondents
Interpretation-
It can be analysed that 10 respondents believe that cross-border trade has effectively
benefited Legal & General Plc as profits are improved up to a major extent. Moreover, 7
respondents also said that cross-border trade is increased in a better manner. While, 6
participants answered that international trade has not hiked profits of business. Furthermore,
remaining 7 respondents also disagree with the statement that globalization has not benefited
Legal & General Plc in improving profits. Thus, it can be justified that cross-border trade has
been fruitful for organisation.
Theme 4- Globalization has lower down costs of services
15

Q4. Do you agree that globalization has lead to
lower down costs of financial services of Legal
& General Plc? Respondents
Strongly Agree 10
Agree 6
Strongly Disagree 8
Disagree 6
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
10
6
8
6
Respondents
Interpretation-
It can be analysed from above chart that 10 participants said that globalization has
lowered down cost of financial services of Legal & General Plc. Moreover, 6 managers of firm
agreed with the statement. On the other hand, 8 respondents said that it has not benefited
company and financial services costs are not reduced. Furthermore, remaining 6 participants also
disagreed with the same and said that costs are not alleviated because of globalization. However,
16

majority respondents have answered in favour of lower costs. Thus, it can be justified that costs
of financial services have come down due to globalization.
Theme 5- Business is flourished
Q5. Do you think that by globalization,
investment and asset management business of
Legal & General Plc has elevated? Respondents
Strongly Agree 8
Agree 10
Strongly Disagree 7
Disagree 5
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
8
10
7
5 Respondents
Interpretation-
It can be interpreted that 8 respondents have strongly agreed that with globalization,
investment and asset management of business is flourished in a better manner. 10 of them have
17

agreed with it as well. On the other side, 7 persons have strongly disagreed that asset and
investment management are not improved due to globalization and expansion to various nations.
Furthermore, 5 participants said that business has not been benefited with the advent of
globalization. However, it can be justified that majority of participants are in favour of
globalization as it has benefited company.
Theme 6- Competition increases due to global international trade
Q6. Does competition increases because of
global international trade to various nations by
Legal & General Plc? Respondents
Strongly Agree 9
Agree 8
Strongly Disagree 7
Disagree 6
Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
1
2
3
4
5
6
7
8
9
10
9
8
7
6
Respondents
18

Interpretation-
It can be interpreted from the above chart that competition is increased due to
globalization as 9 respondents have agreed with the statement. On the other hand, 8 respondents
have also agreed with the same. However, 7 participants strongly disagreed and remaining 6
respondents have also not agreed. While, it can be analysed that competition between companies
engaged in financial services sector have maximized up to a high extent. Thus, it can be justified
that business is able to face stiff competition due to globalization.
Theme 7- Regulations affect operations of Legal & General Plc
Q7. Do regulations implemented by Financial
Services Authority of various nations affect
operations of Legal & General Plc up to a high
extent? Respondents
Yes 18
No 12
Total 30
19

Yes No
0
2
4
6
8
10
12
14
16
18
20
18
12
Respondents
Interpretation-
The above chart displays that various regulations being applied by Financial Services
Authority affects operations of Legal & General Plc. This is because 18 respondents have
answered in favour of the same. However, remaining 12 said that regulations do not affect
company. Thus, it can be justified that company is largely affected by regulations imposed by
countries being of varied nature.
Theme 8- Strategies are to be revamped by business
Q8. Do you think that for remaining
competitive Legal & General Plc is required to
revamp strategies and business model? Respondents
Strongly Agree 11
Agree 6
Strongly Disagree 8
Disagree 5
Total 30
20

Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12 11
6
8
5 Respondents
Interpretation-
It can be analysed that 11 respondents have answered that new business model has to be
implemented by Legal & General Plc and strategies have to be revamped. 6 respondents said that
there is a requirement of strategies to be revamped. On the other hand, 8 respondents strongly
disagreed with the same. Remaining 5 respondents are also not in favour of it. Thus, it can be
justified that due to globalization, business model and strategies are to be revamped.
Theme 9- Globalization leads to accomplish wide reach to customers
Q9. Do globalization leads to attainment of
wide reach to customers for offering financial
services? Respondents
Yes 20
No 10
Total 30
21

Yes No
0
5
10
15
20
25
20
10 Respondents
Interpretation-
It can be analysed that 20 respondents said that globalization is beneficial for
organisation as wide reach to customers is possible. However, 10 of them said that it is not
beneficial for Legal & General Plc as it is unable to have wide reach to consumers. Thus, it can
be justified that wide reach to customers is possible.
Theme 10- Demands of international customers are changed
Q10. Do you agree that demands of products of
Legal & General Plc particularly of
international customers have changed due to
globalization? Respondents
Strongly Agree 10
Agree 8
Strongly Disagree 9
Disagree 3
22

Total 30
Strongly Agree Agree Strongly Disagree Disagree
0
2
4
6
8
10
12
10
8
9
3
Respondents
Interpretation-
It can be analysed from the chart that 10 respondents have answered that demand of
international customers have changed due to globalization. Moreover, 8 respondents have also
agreed with it. While, 9 participants strongly disagree with the statement and remaining 3 have
replied the same. Thus, it can be justified that due to expansion of business to various countries,
demand of international customers have changed significantly.
P6 Reflect on effectiveness of research methods applied in research study
The research methodology has been applied in order to ascertain results of research in a
better manner. Effectiveness of research methods can be applied in study as I'm able to gain
useful insight about the topic in effectual manner. Globalization has paved the way for business
for attaining high growth and accomplish global market share in the best manner possible. On the
other hand, qualitative research has been applied which provided theoretical framework of
research on how globalization drives Legal & General Plc towards success and helps in
maximising profits in effectual manner.
23

I'm able to develop better understanding about the globalization and applied inductive
research approach quite effectively. The inductive approach has provided with key observation
and helped in formulating research hypothesis with ease. Moreover, exploratory research design
has been used by me which has enhanced by analytical skills in effective manner. Variables
contributing to drive business success is effectively gathered which has improved my deep
thinking. Moreover, research philosophy such as interpretivism has been applied. With the help
of it, my interpreting skills are improved up to a major extent. This has helped me to improve my
overall research skills in effective manner.
The simple random sampling technique is being applied by taking sample of 30
respondents representing all managers of Legal & General Plc. Moreover, questionnaire was
provided to them which has improved my interpersonal skills as I'm was able to interact with
people in effectual manner. Furthermore, it can be analysed that by incorporating primary and
secondary sources of research, my data collection skills are enhanced. Using the same, data
analysis is being carried out. This has helped to improve upon my analytical skills and I'm able
to interpret the themes prepared on the basis of questionnaire. This means that with the help of
implementing research methodology, my overall research skills are improved and importance of
globalization which drives business success for attaining profits has been achieved.
P7 Considering alternative research methodologies in view of the outcomes
Research methodologies have been implemented for carrying out study about how
globalization drives business towards success. By using research objective, entire study has been
conducted in a better manner. Qualitative research is being used for the study for identifying how
globalization helps Legal & General Plc to maximise its profits. However, alternative research
type such as quantitative research could have been used for accomplishing outcome of study.
However, researcher, then would have conducted whole of secondary research by completely
relying on secondary sources for accomplishing research objectives. However, this would have
changed entire aim and purpose of research.
Furthermore, research approach would then be deductive approach as it is used in
quantitative research only. Moreover, positivism research philosophy could be utilised
accordingly serving the research purpose. On the other side, descriptive research design could
also been used for describing variables of globalization driving business towards success.
24

However, sampling method would be eliminated from research as it is used for primary data
only. Secondary and reliable sources would have been used for ascertaining data and then
analysis could be done with the help of it. Thus, qualitative research has been applied for serving
research purpose which could have been replaced with quantitative research by seeking facts and
figures.
RECOMMENDATIONS
Hereby it can be recommended that Legal & General Plc requires implementing new
business model for enhancing its growth which will maximise its profits. By completely
revamping strategies and models, firm may be able to attain higher growth in international
market. It is recommended that innovation must be made as demands of customers globally have
changed resulting into varying needs of individual. By innovating products and revamping
financial services, Legal & General Plc will be able to increase its market share and profits as
well. It can be identified that major benefit of globalization is enhanced customer base, although,
it is unable to maximise market share. For accomplishing this, it is recommended to be more
flexible for adapting change so that business may snatch desired share.
Customer ideas should also be used which will help Legal & General Plc to enhance its
market share by innovating products and services quite effectually. Competitive rivalry is
increased in accountancy and finance sector. For overcoming this issue, constant innovating
strategies are to be implemented so that business may easily achieve higher share in the market.
Thus, by applying these recommendations, Legal & General Plc may accomplish more benefits
of globalization and attain higher profits in coming future.
CONCLUSION
Hereby it can be concluded that research study plays crucial role in identifying the root
level of topic for receiving answer of questions associated with the research. The research has
been conducted on analysing how globalization drives Legal & General Plc for maximising
profits. With the help of it, research questions were being formulated. Along with it, research
methodologies were applied for conducting qualitative research in effectual manner. The
outcome generated from the research clarifies that globalization has immensely benefited
organisation for maximising its profits and overall performance in all countries where it operates.
25

It has diversified customers requiring several financial services such as insurance
products, asset management services etc. It has to cater to needs of global customers for
maintaining its brand image and awareness around the globe. Data collection through primary
data provide clarity that management view for organisation is fair enough as it is effectively
making way for maintaining healthy profits. It is overcoming strategies implemented by rivals.
On the other side, it requires maintaining its growth so that it may satisfy more customers and
take full advantage of globalization quite effectually. Hence, globalisation has benefited Legal &
General Plc in attainment of good performance by expanding to various countries.
26

REFERENCES
Books and Journals
Bilau, A. A., Witt, E. and Lill, I., 2018. Research methodology for the development of a
framework for managing post-disaster housing reconstruction. Procedia engineering. 212.
pp.598-605.
Dwyer, L., 2015. Globalization of tourism: Drivers and outcomes. Tourism Recreation
Research. 40(3). pp.326-339.
Kumar, R., 2019. Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.
Ledford, J. R. and Gast, D. L., 2018. Single case research methodology: Applications in special
education and behavioral sciences. Routledge.
Liamputtong, P., 2018. Sensitive Research Methodology and Approach: An
Introduction. Handbook of Research Methods in Health Social Sciences. pp.1-10.
Marczyk, G., DeMatteo, D. and Festinger, D., 2017.Essentials of research design and
methodology. John Wiley.
Najam, A., Runnalls, D. and Halle, M., 2016. Environment and Globalization: Five Propositions
(2010). The Globalization and Environment Reader. p.94.
Osborne, T. L. and Luoma, J. B., 2018. Overcoming a primary barrier to practice-based research:
Access to an institutional review board (IRB) for independent ethics
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Quinlan, C. and et.al., 2019. Business research methods. South Western Cengage.
Schmukler, S. L. and Abraham, F., 2017. Financial Globalization.
Silverman, D. ed., 2016. Qualitative research. Sage.
Standing, S. and Standing, C., 2018. The ethical use of crowdsourcing. Business Ethics: A
European Review. 27(1). pp.72-80.
Steger, M. B., 2017. Globalization: A very short introduction(Vol. 86). Oxford University Press.
Taylor, P., 2017. The Globalization of Service Work: Analysing the 12 Transnational Call
Centre Value Chain.Working life: Renewing labour process analysis. p.244.
Walliman, N., 2017. Research methods: The basics. Routledge.
Wan, L. and et.al., 2016. Impacts on quality-induced water scarcity: drivers of nitrogen-related
water pollution transfer under globalization from 1995 to 2009.Environmental Research
Letters. 11(7). p.074017.
Wuebker, G., Baumgarten, J. and Koderisch, M., 2017. Price Management in Financial
Services: Smart Strategies for Growth. Routledge.
Online
27

Claudiu. 2012 Globalization and its Effects on Financial Markets [PDF] Available Through:
<http://www.revistadestatistica.ro/suplimente/2012/1/srrs1_2012a30.pdf>
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APPENDIX
Research Proposal Form
Student Name: ______________________ Student ID: ____________
Centre Name: _____________________
Tutor: ________________ Date: ___________________
Unit: ____________________
Proposed Title: _How globalization drives business
success____________________________________________
Section One: Title, objective, responsibilities
Title or working title of the research project (in
the form of a question, objective or hypothesis)
“To analyse how globalization drives business
success in maximizing profits in accountancy and
finance sector- A study on Legal & General Plc”
Research objectives (e.g what is the question you
want to answer? What do you want to learn how
to do? What do you want to find out?):
 To assess the ongoing trend in accountancy
and finance sector in the UK
 To analyse the influence of globalization in
maximizing profits of Legal & General Plc
 To ascertain importance of globalization in
enhancing overall performance of Legal &
General Plc in the market
 To recommend ways through which profits
29

can be maximised of Legal & General Plc
Section Two: Reasons for choosing this research
project
Reasons for choosing the project (e.g links to
other subjects you are studying, personal interest,
future plans, knowledge/skills you want to
improve, why the topic is important):
The main purpose of selecting globalization topic is
that companies in recent times are able to
accomplish desired performance by accessing to
global markets. Legal & General Plc is a giant
financial services company headquartered in the UK
having multinational operations worldwide. Reason
for choosing the study is that how globalization is
helping in attaining success of organisation and how
profits are maximized of the company. Another
reason for conducting this research is to analyse
importance of globalization in increasing profits in
the best manner possible. The study will give useful
insight for attaining the factors of globalisation
driving success of Legal & General Plc.
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Section Three: Literature sources searched
Use of key literature sources to support your
research question, objective or hypothesis:
Schmukler, S. L. and Abraham, F., 2017. Financial
Globalization.
Steger, M. B., 2017. Globalization: A very short
introduction(Vol. 86). Oxford University
Press.
Taylor, P., 2017. The Globalization of Service
Work: Analysing the 12 Transnational Call
Centre Value Chain.Working life: Renewing
labour process analysis. p.244.
Wuebker, G., Baumgarten, J. and Koderisch, M.,
2017. Price Management in Financial
Services: Smart Strategies for Growth.
Routledge.
Section Four: Activities and timescales
Activities to be carried out during the research project (e.g research,
development and analysis of ideas, writing, data collection, numerical analysis,
tutor meetings, production of final outcome, evaluation, writing the report): How long this will
take:
31

Milestone one: _________________
Target date (set by tutor):
____________________
Milestone two: _______________________
Target date (set by tutor):
______________________
Gantt Chart
The research study will be completed within
16 weeks.
Section Five: Research approach and
methodologies
What type of research approach and
methodologies are you likely to use and why?
What your areas of research will cover:
Research Methodology
Research Type-
The present research will be conducted by
taking qualitative research type. It will be
appropriate to take in order to analyse driving factors
of globalisation in success of Legal & General Plc in
maximising profits.
Research Design-
There are two types of research design such
as exploratory and descriptive. In present research,
exploratory research design will be chosen for
exploring variables of globalisation that drives
business success in effective manner.
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Research Approach-
There are two widely used research
approaches such as inductive and deductive. Present
research will be conducted by using inductive
research which will help in analysing factors of
globalisation that leads business towards success
quite effectually.
Research Philosophy-
The research philosophy has basically two
types such as positivism and interpretivism. In
current study, researcher will be use interpretivism
philosophy which will help in identifying theoretical
framework regarding globalisation with ease.
Sampling-
The simple random sampling method will be
used by circulating questionnaire to 30 managers of
Legal & General Plc as respondents. The viewpoints
of 30 respondents will be used so that research may
be conducted in appropriate manner.
Data Collection-
There are two widely used sources such as
primary and secondary used by scholar. Both the
sources will be used by the scholar in present
research. For primary source, questionnaire will be
provided to respondents for getting their viewpoints.
While, for secondary one, books, journals, articles
on the internet will be used.
Data Analysis-
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The data analysis is another important
element after data has been gathered. In current
research, thematic analysis will be used for carrying
out data results in a better manner. Themes will be
produced on the basis of questionnaire and this will
help in interpreting results.
Comments and agreement from tutor
Comments (optional):
I confirm that the project is not work which has
been or will be submitted for another
qualification and is appropriate.
Agreed: ________________
(name)_______________ Date ______________
Comments and agreement form project proposal
checker( IV sampling)
Comments (Optional):
I confirm that the project is appropriate.
Agreed /Disagree: (Name of the
34

IV) Date
Research Ethics approval form
Section 1: Basic details:
Project title:
“To analyse how globalization drives business success in maximizing profits in accountancy and
finance sector- A study on Legal & General Plc”
Student name:
Student ID number:
Programme:
College Name:
Intended research start date:
Intended research end date:
Section 2 Project summary
Please select all research methods that you plan to use as a part of your project:
Interviews Yes No ✔️
Questionnaires Yes ✔️ No
Observations Yes No✔️
Use of personal records Yes No✔️
Data Analysis Yes ✔️ No
Action Research Yes No✔️
Focus Groups Yes No✔️
Others (Please specify) :
Section 3: Participants
35

Please answer the following questions, giving full details where necessary.
Will your research involve human participants?
Who are the participants? Tick all that apply:
Ages 12-16: Young people aged: 17-18 ✔️ Adults:
How will participants be recruited (identified an approached)?
Describe the processes you will use to inform participants about what you are doing:
The questionnaire will be provided to them by taking their consent.
How will you obtain consent from participants? Will this be written? How will it be made clear to
participants that they may withdraw consent to participate at any time?
No participants will be forced to provide their viewpoints. The written consent will be taken from them
by arranging meeting with them.
Studies involving questionnaires: will participants be given the option of omitting questions that do not
wish to answer?
Yes✔️ No
If no please explain why below and ensure that you cover any ethical issues arising from this
Studies involving observation: Confirm whether participants will be asked for their informed consent
to be observed.
Yes ✔️ No
Will you debrief participants at the end of their participation (i.e give them a brief explanation of the
study)?
Yes ✔️ No
36

Will participants be given information about the findings of your study?(This could be a brief summary
of your findings in general)
Yes✔️ No
Section 4: Data Storage and Security
Confirm that all personal data will be stored and processed in compliance with the Data Protection Act
(1998)
Yes✔️ No
Who will have access to the data and personal information?
The scholar will be in possession of whole data only.
During the research:
It will be held in personal computer pf scholar.
Where will the data be stored?
In computer's hard disk.
Will mobile devices such as USB storage and laptops be used
Yes No✔️
If Yes, please provide further details:
After the research:
Where will the data be stored?
Hard disk of computer
How long will the data and records be kept for and in what format?
It will be kept in FAT 32 file format for 6 months.
Will data be kept for use by other researchers? Yes No✔️
Section 5 : Ethical Issues
Are there any particular features of your proposed work, which may raise ethical concerns? If so, please
37

outline how you will deal with these:
It is important that you demonstrate your awareness of potential risks that may arise because of your
research. Please consider/address all issues that may apply. Ethical concerns may include, but are not
limited to the following :
 Informed consent.
 Potentially vulnerable participants.
 Sensitive topics
 Risk to participants and /or researchers
 Confidentiality/anonymity
 Disclosures/ limits to confidentiality
 Data storage and security, both during and after the research (including transfer, sharing,
encryption, protection).
 Reporting
 Dissemination and use of your findings.
Section 6: Declaration
I have read, understood and will abide by the institution’s Research and Ethics Policy: Yes
No
I have discussed the ethical issues relating to my research with my Unit Tutor:
Yes No
I confirm that to the best of my knowledge:
The above information is correct, and this is a full description of the ethical issues that may arise
in the course of my research
Name: Date:
38