Research Project Assignment - effectiveness of Franchising in global market
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Added on 2020-11-23
Research Project Assignment - effectiveness of Franchising in global market
Added on 2020-11-23
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Research Proposal FormProposed Title: ______________________________________________Section One: Title, objective, responsibilitiesTitle or working title of the research project (in the form of a question, objective orhypothesis)Title- “ Strategies for loacl companies in emerging market in globalisation- A studyon Dartmoor Soap Company”Aim: “ To analyse the effectiveness of Franchising in global market- A case study onDartmoor Soap Company”Introduction of a firm: Dartmoor Soap Company is small firm in UK which providenatural soap bars to their customers at reasonable rates. Research objectives (e.g what is the question you want to answer? What do you wantto learn how to do? What do you want to find out?):Objectives:To understand the relationship between the franchising and globalisation.To examine the effectiveness of franchising in global market.To identify the issues and challenges faced by Dartmoor soap Company whilecompeting in global marketTo provide effective strategies and recommendations to survive in global market. Research Questions:What is the relationship between the franchising and globalisation?Describe the importance of franchising?What are the challenges and issues faced by Dartmoor Soap Company whilecompeting in global market?What alternative strategies help Dartmoor to survive in global market?Section Two: Reasons for choosing this research projectReasons 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 isimportant):Globalisation is the wide concept and the main reason to choose this topic is that the
researcher have their personal interest and through this the researcher also enhances theirknowledge as well as skills which further help to make the future project better way. Apartfrom this, by researching on this topic also helps researcher to enhances their researchskills so that it will be help in their further projects. Moreover, by studying on this topic,the researcher also know different ways of survival strategies and further it will also help toknow about issues and challenges which are faces by the firm. Section Three: Literature sources searchedUse of key literature sources to support your research question, objective orhypothesis: Theme 1: Understand the relationship between the franchising and globalisation.As per the view of Mani, Wathne and Antia, (2019) Franchising is that form ofbusiness by which the franchisor of a product or service obtains the distribution throughdealers or the franchisers. This is the wider marketing concept which is adopted by the firmin order to reach at global level. On the other side, Rhou, Li and Singal, (2019) states thatglobalisation is the wide process through which a firm interact among peoples, companiesand government at world level. Therefore, it is the economic process of integration whichis further linked with the social and cultural aspect. According to Song, Park and Lee (2019) franchising is the successful strategy thathelps to provide opportunities for the new and existing franchisee who are looking for thefurther expansion options. It is one of the most relatively smooth and easy process for thesurvival strategy which helps Dartmoor Soap Company . Therefore, it has been analysedthat franchising is one of the fastest growing segments which is also spread in every sectorand through this method, the firm also reach at its global market. While, Link (2019) criticthat franchising may also creates social pressure and the cultural clashes in order to run abusiness in global level. As globalisation is the process of interaction and also providemany opportunities in order to emerge the current business into new market. Theme 2: Examine the effectiveness of franchising in global marketAccording to Fan, Kühn and Lafontaine, (2017) franchising is one of the mosteffective strategy that helps to reach a business at global level. This strategy also keep nedssmall amount of investment at initial level as compared to other strategies. Such that, as thefirm uses this then it helps to protect firm from extra training and hiring employees, thus ithas been analysed by the author that it is quite cost effective strategy which helps to keep abusiness to reach at global level without investing many. While on the other side, as perthe views of Madanoglu and Castrogiovanni (2018) franchisee is the well established partfor the local community and it may be in the terms of personal level or the past businessactivities. Thus it helps to gain high competitive advantages for the new establishedbusiness which is not provided by other business firms.The effectiveness of the Franchisee also helps to reduce the chances of risk,franchisee is responsible for the entire investment and they also focus on the growthwithout the unit level risk which is incurred by the franchisee. AsKacker and et.al., (2016)
states that this method also helps to provide a greater commitment because a franchisoralso uses their brand and loyalty, customer base etc. beside this, on opting the franchise asa survival strategy, a firm did not have to spend money on recruitment and selectionprocedure because they also use the already existing employees into the working area.Thus, it shows that to compete in this global market, there is a need to use bets andeffective strategy which helps to sustain in this competitive world. In the same way,Dartmoor Soap Company is also uses franchising in order to reach at international way. Theme 3: Issues and challenges faced by Dartmoor while competing in global marketTo compete in the global market, Dartmoor Soap Company is also faces manyissues and challenges and as per the views of Badrinarayanan, Suh and Kim (2016) culturalnuance is the biggest challenge such that consumers are also influenced to purchase theproducts by marketing message which is delivered through the media and magazines. Butthe firm also require deeper understanding of the culture, customs and morals which alsoaffect the sales of a business. On the other side, López‐Bayón and López‐Fernández,(2016) critics that political environment is the most affecting factor which also createssome issues for competing in the global market. In this, every states and country hasdifferent terms and condition which has to follow by the firm and it is not possible forevery firm to keep adhering the sudden changes or the laws which is made by thegovernment. According to Koh and et.al., 92018)finding reliable partners is another issue whichis faces by a firm in which the quoted company has to establish the better relationship withtheir distributor whose market they are seeking to enter. Thus the firm has to choose thebest partners who help in franchising in which it may engage the local marketing andpublic relations firms. While on the other side, Wathne and Antia, (2019) states that tariffand export fees is another challenge which is faced by the firm while competing in theglobal market. Such that most of the countries also have some type of tariff which is alsocharged by the companies in order to bring the goods into country. In order to incorporatethis challenge it is quite necessary to make planning.As if the firm did not have proper knowledge related to the market need then itcreates another major issue which needs to be minimized. A key success in a business is tooffer the products and services to the customer and complete their demands. Even though ifthe customer faces any problem that needs to be solved in an effective way. So that it willalso help to complete in the global market.Theme 4: Effective strategies and recommendations to survive in global market.As per the Badrinarayanan, Suh and Kim (2016) direct exporting is the anothersurvival method through which the firm also compete the global world. As this method isconsider one of the most simple and cost effective method as compared to other strategies.Therefore, it is also recommended to the Dartmoor Soap Company that they can also usethis strategy. Beside this, according to the view of Song, Park and Lee, (2019) partnering isthe another method through a small and local firm can easily reach at global level. In this
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