How Globalisation Can Drive Business Success

RESEARCH
PROJECT

Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
Overview of research..................................................................................................................1
Background of research...............................................................................................................1
Rationale of Research.................................................................................................................2
Aim of research...........................................................................................................................2
Research objectives.....................................................................................................................2
Research questions......................................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................3
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................8
Type of Investigation..................................................................................................................8
Research Approach.....................................................................................................................8
Research Techniques...................................................................................................................8
Research philosophy...................................................................................................................9
Research Design..........................................................................................................................9
Data collection............................................................................................................................9
Data sampling............................................................................................................................10
Ethical issues.............................................................................................................................10
Gantt Chart................................................................................................................................10
CHAPTER 4: DATA ANALYSIS................................................................................................13
CHAPTER 6: CONCLUSION AND RECOMMENDATION.....................................................24
Conclusion.................................................................................................................................24
Recommendations.....................................................................................................................24
CHAPTER 7: REFLECTION AND ALTERNATIVE METHODOLOGIES..............................25
Reflection..................................................................................................................................25
Alternative methodologies........................................................................................................25
REFERENCES..............................................................................................................................26

Topic: “How globalisation can drive business success”
CHAPTER 1: INTRODUCTION
Overview of research
Globalisation is not a new word for most people as they know that globalisation has
provided greater opportunities to not any individual but to company as well. This is a growing
process through which companies are growing in a rapid speed and assisting in developing
business and providing better services and facilities to its customers. Globalisation is not
confined with only economy but it has different perspectives as well such as social, cultural,
ideological and political. In relation with business globalisation, it is being accepted by most of
the companies as it has widen and speed-up connection between one another world-wide.
Background of research
Research is a systematic work which is undertaken in order to have proper knowledge
regarding different kinds of activities, knowledge about humans, culture and society. Therefore,
research is conducted order to have in-depth information that can be further applied in future
proceedings (Aas, 2013). Globalisation is a wider concept and it includes different kinds of
tendencies such as economic, social and cultural as well. In simple terms, globalisation is a
process through which companies in different countries interact with various firms and do
trading, financial transactions etc., for operating their business in an effective manner. Marks and
Spencer is one of the leading companies in United Kingdom. Company was founded in the year
around 1884 and since 135 years they are providing effective services and facilities to its
valuable customers. Globalisation has aided many companies with benefits as it has provided
them a wider platform of operating their business in an effective manner in different locations
around the world. Therefore, this research is conducted in order to have proper knowledge
regarding the impact of globalisation and how it helps in taking business towards success. Main
reason behind this is that globalisation have an effect on business life and through this company
can enhance its tools and technologies which can further leads towards competitive advancement
(Agrawal, 2017). Therefore, with the help of this research Marks and Spencer will get to know
about what are the factors through which company can enhance its business at international
level. With the help of globalisation company will be able to develop effective communication
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process with other firms and companies. As a result, this will be helpful in free trading between
countries.
Currently, Marks and Spencer is going through some complications in operating its
business at national level because their sales are decreasing. Therefore, with the help of new
marketing strategies company is thinking of expanding its business at International level. Thus,
this research will be helpful for researcher in understand what all factors are crucial and which
can provide benefits and make them eligible in sustaining in the market for a longer period of
time (Beck, 2018).
Rationale of Research
Present research is based on the topic “To determine importance of globalisation and its
impact on success of business”. A study on Marks and Spencer. This will aid researcher in
having proper information about the research topic. Therefore, with the help of this research,
researcher will not only know about the factors that are required to be focussed more but will
also aid in enhancing knowledge of research is being conducted. Significance of this research is
to have proper understanding about the impact of globalisation in taking business towards
success.
Aim of research
While conducting a research aim plays a crucial role as on the basis of this objectives are
formulated which is further required for doing research in an effective manner. Therefore, aim of
this research is to “To determine importance of globalisation and its impact on success of
business”. A study on Marks and Spencer.
Research objectives
 To understand the concept of globalisation.
 To identify the drivers that influence company towards globalisation.
 To study various benefits of globalisation that can lead Marks and Spencer to success.
 To identify different kinds of challenges that can be faced by Marks and Spencer while
operating their business in globalised world.
Research questions
 What do understand by the concept of globalisation?
 What are the drivers that influence company towards globalisation?
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 What are the benefits of globalisation that can lead Marks and Spencer to success?
 What kinds of challenges that can be faced by Marks and Spencer while operating their
business in globalised world?
CHAPTER 2: LITERATURE REVIEW
Concept of globalisation
According to the view point of Benería, Berik and Floro, (2015) Globalisation, provides a
closer integration of countries, companies and people that helps in operating business in an
effective manner. In this faster growing economy where doing business for a company becomes
expensive globalisation has played a crucial role as it has reduced cost of transportation and
communications. Along with this, it has breakdown numerous boundaries because of which flow
of goods, services, capital and knowledge has become more easier. Therefore, globalisation has
helped in clearing path for worldwide development as a result, any company at any level can
easily take their business at global platform. Globalisation is not only around with economic
factor but it has also putting positive impact on other elements as well. Developing countries
have access to new markets which is providing maximum benefits in terms of movement of
labour, foreign capital, latest technologies etc.,
In relation with trade at global level it is helping in enhancing economic growth.
Globalisation to some extent has reduce trade restrictions. Other than this, companies can now
get cheap labour forces for performing their task in an effective manner. Globalisation has not
only improved the way of doing any particular work but it has also helped in transferring new
and latest technologies from developing countries. As a result, it aid company towards global
competition for a longer period of time. Therefore, in order to do the same companies nowadays
are focussing on producing goods that are of superior qualities which is leading towards
specification and efficiency. Apart from this, globalisation has provided better access to goods,
foreign culture etc.,
Drivers that influence Marks and Spencer towards globalisation
As per Benigno and Faia, (2016) Globalisation is primarily an economic process with the
help of which interaction and integration of activities takes place. Thus, it can be said that
globalisation is totally based on four components making worldwide connections,exchange of
technologies, resources of capital and exchange of goods and services. Globalisation has
resultant in increase in economic expansion between national whether at national or international
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level. There are some drives of globalisation that has influenced numerous companies in
expanding their business at different levels so, some of them are explained below for better
understanding:
Trade Liberalization: Marks and Spencer is one of the leading companies in United
Kingdom and they are playing a crucial role in increasing revenue of the nation. While operating
business in an effective manner company must know about the trade policies that have been
regulated by government of a nation. This is consider as one of the key drivers that motivates
different kinds of activities which are generally related to market access (Blaser, McRae and
Feit, 2013). In this changing world trade liberalisation has made things more cheaper and of
good quality as well. Therefore, in future if Marks and Spencer wants to expand its business at
different locations than this can help them in doing so as this will allow company in trading for
free without any additional costs. Along with this, customers can also gets an opportunity of
getting best quality products at cheaper cost and competitive advancement. For example:
according to the recent trade liberalization United Kingdom has started focussing on service
sector more instead of manufacturing. Along with this, there are numerous agreements by
different Unions after signing them companies easily trade between companies such as European
Union, North American Free Trade Agreement (NAFTA) etc., Under this members have
common foreign trade policies which help them in reducing trade barriers (Eriksen, 2014).
Difference in cost between countries: There are various factors at every stage of
development such as cost of production, land, capital, labour etc., and these must be considered
by companies so that they can run their business in an effective manner. Undoubtedly, all these
factors will be different in various countries. For example: labour cost in China will be less as
compared to United Kingdom so, getting workers in those areas at cheap cost is easier. With the
help of resource with limited economy company can manufacture or perform various activities
easily. Therefore, it is also one of an effective drivers that can influence company in taking itself
towards globalisation because it will now only provide labour but also resources at cheap cost.
Also, it is not like if a company is getting all the factors than it is poor but instead company gets
a variety of scope for improving its business.
Rapid change in technology: With the change in course of time, globalisation has
provided greater opportunities to companies for choosing technology that are effective and can
aid them in increasing sales and profitability. Therefore, in whatever sector a company is dealing
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technology has provided them with effective facilities. In recent times, this has become one of an
important drivers which is pushing companies towards globalisation. Thus, most of the
companies are moving towards implementing latest technology. As a result, with the help of this
communication process has become more easier. As a result, it is aiding in improving sales and
profitability in a speculated time frame. As compared to earlier times, operating business was
quite difficult and it is because of transportation but as technologies has evolved companies can
now deliver effective services and facilities to remote areas as well. As a result, globalisation and
technology has provided greater opportunities in doing their business.
International investment : This drives globalization by expanding economic integration.
In present years, there has been an up-tick in global investment, including commercial loans,
foreign direct investment (FDI) and foreign portfolio investment. Many countries have pleased
this to acquire the benefits of international investment, which include the initiation of productive
enterprises, jobs, and new sources of income.
Market drivers : As domestic markets become more and more saturated, the
opportunities for growth are limited and worldwide expanding is a way most organizations
choose to overcome this situation. They each run marketing campaigns that are changing the way
in which people do business. Similar customer needs and the opportunity to use global marketing
channels and transfer marketing to some extent are also incentives to choose internationalization.
Benefits of globalisation that can lead Marks and Spencer to success
According to the view point of Goswami and Narwal, (2014) Globalisation has put a
great impact on an individual and companies because it has provided benefits in terms of
economy. Considerably globalisation has provided greater opportunities to companies with free
trade between different nations. Therefore, to understand benefits in a better manner some of
them are explained below:
More Revenue Streams: Main motive of companies of operating business at global level
is to get maximum access of resources so that better outcomes can be gained. For example:
companies who have already sustained a better position at local or national market they can think
of expanding its business at global level. Therefore, after having proper evaluation of market at
international level company can easily provide better services and facilities to its customers
which will ultimately improves sales and profitability in a stipulated time frame. Along with this,
with the help of globalisation company will be able to increase customer's base. Apart from this,
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Marks and Spencer, through this can create new opportunities and for getting benefits they can
minimise cost and can earn profit as well (Gwynne and Cristobal, 2014).
Resources and Supplies: Main benefits of globalisation is that it has reduced trade
boundaries and provided firm with opportunities of grabbing excellent resources and raw
materials. As a result, companies are becoming more industrialised and giving effective services
and facilities to its valuable customers. Therefore, this assist in having new and better
relationship with supplier and customers as well. As a result, for Marks and Spencer, it will aid
them in strengthening at global market.
Challenges that can be faced by Marks and Spencer while operating their business in
globalised world
As per Yankuzo, (2014) While operating business there are many challenges that can be
faced by companies which can further hamper further activities. Some of the challenges are
explained below for better understanding:
Organisational Communications: Communication is one of the crucial element that is
necessary in order to establish better understanding and relationship. For Marks and Spencer, as
they have their business in different location so, for them it is necessary that they use effective
communication systems with the help of which they can interact with their staff members. But
while establishing their business in different location this can work as a challenge for Marks and
Spencer, as they can find it difficult to interact with local customers. As a result, this can leads to
decrease in sales and profitability.
Human Resources: At the time of global expansion , company requires right person who
can work and provides better results to them in international market. Thus, human resources is
the core element of a firm that drive company towards success. But if company fails to hire
eligible employees for their organisation than this can act as a challenge. Firm can decrease its
sales which can further put a bad impact on image of the company. Therefore, developing team
according to the need and requirements of companies firm might need additional investment.
Adopting right country: Majorly company establish their business in order to have
better growth. For this, they use different kinds of strategies so that maximum number of people
can be attracted. Therefore, while expanding its business in different locations there is a
requirement that company have a better understanding. Thus, this can be one of the biggest
challenge for an organisation. They further have to conduct and understand which will the best
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