Research Proposal Assignment - H&M
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Added on 2020-11-23
Research Proposal Assignment - H&M
Added on 2020-11-23
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Research Proposal
Table of ContentsINTRODUCTION...........................................................................................................................3LITERATURE REVIEW................................................................................................................4METHODOLOGY..........................................................................................................................7TIMELINE OF RESERACH ACTIVTIES ..................................................................................24CONCLUSION..............................................................................................................................27RECOMMENDATION.................................................................................................................27REFLECTION...............................................................................................................................28REFRENCES.................................................................................................................................29
Title: “How globalisation can drive business success.” INTRODUCTIONGlobalization represents the world wide combination of international trade, investment,information technology, cultures and so on (Brewster and Hegewisch, 2017). Governmentpolicies are formed for opening economies domestically as well as internationally for developingpoor nations and also in raising living standards of people. In simple term it can be said that,globalisation is the process through which an organisation can sell their goods and services atworldwide level. This research project is based on H&M which is an retail sector organisationfounded in 1947 and its founder is Erling Persson. Headquarter of respective organisation is atStockholm, Sweden and they are severing at global level. H&M is dealing in clothes as well asaccessories of men's, women's and children's. Respective research project is going to explainimpact of globalisation on the growth and success of H&M (Costen and Salazar, 2011). Whileexpanding business at global level companies face several challenges which should have to bekeep in mind as well as implement proper strategies to overcome with these. Along withchallenges, there are several benefits also which result in growth and success of business. Aim of researchResearch aim is one of the crucial part of overall research project because there is not anyaim in which direction are processed and it is conducted. Aim of research generally explain anissue through which organisation is going on for finding its solution. So, company can easilyachieve growth as well as profit in competitive business environment. The aim of research project is "To identify the impact of globalisation on business growth andsuccess: A case study on H&M”.Research Objectives Objectives of research is important because on the basis of these pre-determined goalscan be achieved in better manner (Crane and Matten, 2016). These objective are mainly usefulfor investigator because with the assistance of all they can easily evaluate entire research projectin effectual manner. Objectives of research have their strong connection within each other aswell as it will help researching person in conducting effective research process. Below given arethe designed objectives for respective research :- 1. To determine the concept of Globalisation2. To evaluate benefits of globalisation for business growth
3. To identify the major challenges faced by globalisation4. To identify the strategies used by H&M in order to enter in new market.Research questionsIn respective section, research questions is framed as well as developed by theinvestigator by keeping in mind respective objectives which has been framed in advance.Moreover, it has been determined that research questions is necessary part of the researchbecause through this investigator is able to understand as well as evaluate overall investigation inaccurate manner. Below mention are the research questions prepared for this project :- 1. What is the concept of Globalisation? 2. what are the benefits of globalisation for business growth?3. How to identify the major challenges faced by globalisation?4. What are the strategies used by H&M in order to enter in new market?LITERATURE REVIEWConcept of GlobalisationAccording to the point of view ofKolb (2014) Globalisation represent the all over worldintegration of international trade, investment, information technology as well as culture. Insimple term it can be said that, globalisation is the process of business expansion at worldwidelevel. It is the procedure through which transfer of knowledge, ideas as well as thoughts takeplace in several nations for enhancing the level of profitability and makes standard goodwill inthe marketplace. Under globalisation process H&M sell their product and services all over theworld. This research is based on H&M which is retail sector company and serving their productsand services at worldwide level. While expanding business at worldwide level respectiveorganisation gone through several problems as well as gain various benefits also. Benefits of globalisation for business growthAccording to the point of view McGrath (2012) Globalisation is simply businessexpansion at world wide level such practices result in several benefits for growth of H&M whichare as follows :- Improving company reputation -Business which can successfully go global as well asmarket their product and services in another country who is totally different will enjoythe prestigiousness of calling themselves an global organisation. H&M is serving at
worldwide level which result in increasing their reputation within market area because itis not easy for every to do business at global level. Exposure to foreign investment opportunities- Expanding of business operations ofH&M at global level assist them in grabbing advantages of foreign investment (Laszloand Cescau, 2017). When respective organisation expand their business in other countryin competitive world then it is their foreign investment. Learning and adapting new culture – While doing business in other nation H&Mfirstly adopt their culture as well as learn several things about them. This also assistH&M in producing products as per the culture as well as taste and preferences of thepopulation so they can easily fulfil needs and wants of their existing as well as potentialcustomers (Moser, 2012). It also result in enhancing the level of productivity for the sameenterprise and can accomplish highest sales target. With the assistance of globalisationH&M learn and adapt culture of different countries for making their customers satisfy byfulfilling their needs and wants. Free trade- It is a process in which countries exchange goods and resources with eachother and provides wide variety of products to the consumers. In context to H&M itremoves all the trade barriers which helps the respective company to produce its productsin Asia and earn huge level of profits. It also creates bigger market of exports fordomestic manufactures and provides consumers with greater choice of goods. H&Mdoesn't have to bear the cost of various taxes while expanding business and creates highrevenue for the business.Free movement of labour- Increase in the migration of labour gives benefit to both theworkers and the country. In Asia where the respective organisation is going to expand itsbusiness operations will create high level of employment in Asia and can increase thescale of productivity in concerned country and able to capture large number of potentialcustomers as well as attain bigger market share.Major challenges faced by globalisationAccording to the point of view Prajogo and Olhager (2012) H&M has gone throughseveral challenges also while they expand their business at global level. Some of them are asfollows :-
Unfamiliar culture – Every nation have their own culture which is different from eachother and it became major issue for H&M while expanding their business at global level(Detomasi, 2015). Because it is not necessary that offering same product and services inevery nation is like by existing or potential customers. Thus, H&M have to keep in mindculture of every country while production of goods. Language Barriers – Every country have their own local language which becameproblem for H&M in business expansion. To come out with this problem, respectiveorganisation have to hire employees who known different language and have capabilitiesof explaining products features to customers. Legal issues – Every national have their own laws and regulation which have to befollowed by H&M for their easy and smooth running. This factor consider tariffs andexports fees, minimum working hours of labour, wages to be paid, equality act and soon. Thus, it is the major challenge faced by H&M while doing business at global level.Thus, it is important for the company to work according to the regulations that are framedby different countries in order to have long term benefits. Another important legal factoris taxation (Eaton and Kilby, 2015). As every country have different taxation policies andrates which ultimately affects the price of product. Thus, the managers of H&M shouldpractice affective price strategies by undertaking these factors in order to assure lesscosting and more profit share from the market.Strategies used by H&M in order to enter in new marketThere are several ways through which companies can enter into new market (Strategiesto Enter a New Foreign Market,2018). H&M can use various strategies in order to entering innew market some of them are as follows:- Direct Exporting – It is direct selling products and services into the chosen market withthe assistance of agent or distributor for representing them into further marketplace (Salasand et. al., 2012). They two become the face of the organisation as well as crucial part isthat organisations choice of agents and distributors will handle things in better and samemanner like hired key staff persons.Franchising - It is the business expansion process in which one party grant another partyrights of using their trademark, trade name and several business system. For takingfranchise one time fees is paid along with this, some percent of sales revenue is paid as
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