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How globalisation can drive business success

   

Added on  2023-01-23

22 Pages5151 Words28 Views
Research Project

Table of Contents
INTRODUCTION...........................................................................................................................3
Research objectives.....................................................................................................................3
Research questions......................................................................................................................3
Rationale of the research: ...........................................................................................................3
LITERATURE REVIEW................................................................................................................4
Knowledge about globalisation...................................................................................................4
Different factors through which business success of Marks and Spencer can enhanced............4
Issues which arise while analysing business success by managers of Marks and Spencer........5
Relationship between globalisation and business success of Marks and Spencer......................6
RESEARCH METHODOLOGY.....................................................................................................7
DATA ANALYSIS & INTERPRETATION..................................................................................9
RECOMMENDATION & REFLECTION....................................................................................18
Recommendation.......................................................................................................................18
Reflection..................................................................................................................................19
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................21

Research title: “How globalisation can drive business success.” A case on Marks and Spencer.
INTRODUCTION
Globalisation defines as interacting and integrate with people across the countries. It is a
process of driving international trade investment which aid to update technology. The main
markets of globalisation are commodity market, money and credit market, capital market etc.
Companies which can increase their market shares and customer base by expanding their work at
global level (Werthmann, 2016). The main benefit of expansion is to build visibility at a global
level which enables firm to become worldwide outsources for raw materials in very productive
manner. This will help organisation to led cost competitive at both domestic & foreign market.
Through expansion of a business, it would help to improves infrastructure that will improvement
in communication, effective transportation facility, hence in most of metropolitan area will be
created comfort experience to people. Globalisation which drive business by raising economics.
Marks & Spencer is leading global retailer business is looking for global expansion in the
different region along with differentiation of a production viability and outlook.
Research aim/issue
To analyse the ways by which globalisation can drive business success.
Research objectives
To acquire knowledge about globalisation.
To study about the different factors through which business success of the Marks and
Spencer can be enhanced.
To determine the issues which arise while analysing business success by managers of the
Marks & Spencer.
To access relationship between globalisation and business success of Marks & Spencer.
Research questions
Do you have knowledge about globalisation?
What are the different factors through which business success of Marks and Spencer can
enhanced?
What are the issues which arise while analysing business success by managers of Marks
and Spence?
What is the relationship between globalisation and business success of M&S?

Rationale of the research:
It is important for researches to analyse the significance of the concept of globalisation to be
studied so that they can build an understanding that how elements of globalisation assist
businesses to grow and enhance their scope in international market. The dynamicity of this topic
has interested the investigator to select this concept for this present research. As this concept has
a wide scope due to which various career options is available for the investigator. It can even
boost the knowledge of investigator which will help in higher education.
LITERATURE REVIEW
Knowledge about globalisation
According to Peter Mcmillan, (2018), globalization refers to that the world is becoming
interconnected by trade exchange. Inward investment helps countries by facilitating the new
skills and job for the local people as well as this may help to make people more aware of global
challenges such as deforestation, global warming and open-eyed them to develop a sustainable
product in the marketplace (Globalisation, 2016). The main purpose of the globalisation is to
allow for developing countries to match industrialized nations through changing production
level, diversification strategy, economic expansion as well as improvement in the living
standards. Moreover, this plays a significance role in interconnecting of people and businesses
across the world that ultimately leads to cultural, economic and political integration of global
market. It is the ability to communicate and change with others all over the world in order to
conduct and expand business at an international level.
Different factors through which business success of Marks and Spencer can enhanced
To expand businesses at global level is very complex because of the differences in
operative modes i.e. cultures, norms, political conditions etc. In the competitive and innovative
world businesses are facing from the problem of latest technologies and competitor’s strategies.
There are several factors which enhances the business success of Marks & Spencer which are as
follows:
An innovative idea of business: As per the view of Patrick John, (2018), if a company
want to survive in the competitive industry or world, they need to determine the sets which are
separated from the available alternatives. Marks & Spencer needs to analyse the market trends
and building a friendly relation with some customers that impacts on the business success in a

positive manner. The market tendency helps in introducing new product which is in favour of
customers or more demanded by consumers and make an effective plan to make sure the high
growth, success and survive of businesses at international level for a long time duration.
Effective tools and strategies: For developing the products in the international market
business owner uses the right choice of tools and techniques for survive cross border in effective
and efficient manner. Marks & Spencer needs to develop the pricing strategies to lead the
product price in the marketplace as well as enhance their business by developing and upgrading
in the technologies which are required most to gain a competitive advantage. For using the
effective strategies one thing should be needed to know that is choosing of tools for integrating
with business activities should make life easier of both clients and employees as well as make
sure that they are familiar with specific techniques.
Market analysis: According to the views of Jack Mayor, (2017), when launching a new
product in the market, it is necessary to study the conditions and environment and analyse
whether it is the right time to introduced the product in the marketplace. Marks & Spencer,
critically analysed that the market condition is in favour or not for enhancing their business at a
global level through debuting a new product.
Issues which arise while analysing business success by managers of Marks and Spencer
Doing businesses at an international level provides the new opportunities for company's
growth, success and profits. Marks & Spencer will be suffering from the several issues and
challenges while expanding business by launching new product in international market which
should be addressed necessarily that are as follows:
Legal challenges: When a company trade with the other country or launch their products
internationally they have needs to be familiar with respective country's laws. Legal complexities
of global businesses can be challenging and this needs to be follow by a company otherwise it
may result in penalties and fines. This abidance is difficult that differ from country to country so,
M&S needs to keep up with the several legal power to make sure that business is operating
within the law.
Language barriers: This is most challenging and common to do businesses globally, the
company needs to trust on translator for developing a business contacts. M&S can face problems
while supplying their new product to another country at a first time, respective customers of the
company may struggle to understand people because of the different language.

Cultural issues: Culture involves the values, beliefs, gender biases among people of that
respective country where M&S want to launch their product will affect the businesses. For
example: could demonstrate problematic in countries where women are not given equal rights to
the men, creates a issue of sending their female employees to certain countries. So, every country
have their own cultural values which needs to be required to follow by M&S while introducing a
new product in different country.
Political problems: To enhance businesses internationally the political terms should be
analysed carefully because it impacts more on the company. The favourable relations or strong
relationship with the country's political parties deals in advantageous way. Suppose M&S wants
to launch their product in new country needs to develop a positive and strong political effects
whole business.
Relationship between globalisation and business success of Marks and Spencer
There is a direct relationship between the globalization and success of the business within
the context of M&S. Globalization is a process by which businesses operating their activities and
develop their products at a global level. The main drivers are technological advancement, global
trade, international environment which helps in making easier for the company to enhance their
operation in the other countries. This will help in making a strong customer base and increase the
sales as well as profits. As per the views of says that no matter what kind of businesses a
company have, political event anywhere in the world will affect businesses. The incredible
expansion of businesses requires potential customers all over the world this will helps in grow a
business. Market diversification will continuously be increasing this makes a strong and positive
thinking about the own company from an international prospective increasingly requires for
success, survival and growth of the business.
The above conducted literature review has various gaps of information which are; there is
no primary data which can evidently proof that globalisation has more positive impacts than
negative ones. Another gaps which is identified from above review is the lack of directions by
which globalisation can assist companies to drive their business success. In order to fill these
gaps, investigator is intended to respond these gaps by primary research in further segments.

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