Tesco : How Globalization Can Drive Business Success
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Added on 2020-10-05
Tesco : How Globalization Can Drive Business Success
Added on 2020-10-05
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RESEARCHPROPOSAL
Table of ContentsTITLE : “How globalisation can drive business success”...............................................................3Research Aim...................................................................................................................................3INTRODUCTION...........................................................................................................................3Research Objective..........................................................................................................................5Research Question ..........................................................................................................................5LITERATURE REVIEW................................................................................................................5Data Analyses..................................................................................................................................8RECOMMENDATION.................................................................................................................21CONCLUSION..............................................................................................................................21REFERENCE.................................................................................................................................22
TITLE : “How globalisation can drive business success”Research Aim“To identify the impact of globalisation on business organisation”. A case study on TESCO. INTRODUCTIONGlobalisation is the procedure which is emerging immensely in present business scenariobecause due to greater competition each and every organisation is placing an emphasis on sellingits products across global boundaries. It is taking various initiatives to make availability oftechnologies all over the world. In last few years, globalisation is increasing at a rapid rate bothin developing and developed countries (Epstein, 2018). With the help of globalised businessthere has been huge and tremendous increase in the economic growth of the companies. Inpresent business scenario, where globalisation helps the businessman to earn huge amount ofprofits to the businesses because of cheap labour available in the market who are ready to workat lower prices also. It helps global market to consider it as one single market. It opens up thedoors for the businesses so that free trade or industry can be established in the industry andliberalises the sharing of capital goods, workforce, technologies, etc. It helps in establishing theinterconnection among people and organisations so that the businesses can accomplish the globalculture, economic and political integration. This is also possible because of the growingrequirements of the higher level of technological advancements in the industries which enablethem to work globally and maximises their profitability. Organisations which are making their products and offerings global , they will be able tomake better use of resources, this will also give them numerous choices for commencing theoperations and they will not have to depend upon one single domestic country. By adoptingglobalisation, the company can earn foreign exchange because this inspires to promote exportsand discourages the importing of goods and services. No matter whether the organisations arebig or small, globalisation is useful and plays greater role in every company irrespective of theirsize, structure and culture (Matten, 2016). With the support of globalisation from past manyyears, globalisation with the help of technologies is able to solve many problems to the greaterextent. Therefore, it is the most growing concept and can lead the businesses to the greaterheights and levels. For commencing the businesses in global market, it is essentially importantfor the companies to subscribe themselves with the rules and regulations of the world trade
organisations. This is because it overlooks the various terms and conditions between differentcountries. But at the same time, sometimes it becomes hard to evaluate that whether the impactof globalisation has been beneficial or harmful for the businesses (Crane, 2018). No doubt,globalisation has created ample of opportunities for the people all over the world but it has alsocreated the higher level of competition which has reduced the level of profitability in manycountries. Thus, globalisation has affected the organisations in both positive and negativemanner. It has maximised the level of competition in the variety of products, quality of offerings,service,s etc. Those organisations which were successful are now establishing themselves in theglobal market. Globalisation is affected by numerous factors all over the world and this alteration is dueto the growing demands and requirements of the people of the new and innovative products andservices, activities which enhances free trade for businesses, large scale emergence of advancetechnologies, etc. Thus, it has changes the manner of doing businesses and enhances the localpeople of the organisation to develop connections with the rest of the world. Basically theconcept of globalisation has been initiated and originated from those countries which aredeveloped and have various MNC's operating who have huge financial resources and have thecapability to enter into new market and country with effective and efficient technologies,capitals, products and services, etc. The purpose of this research is to analyse importance globalisation in enhancing businessgrowth of the organisation (Cramer, 2017). This research will help in understanding various ofaspects of globalisation and its benefits in business growth. In this, researcher will explore howglobalisation generates business opportunities for organisations which ultimately contributes inrapid enhancement thus contributing in earning high growth and profitability for firms. Thisresearch for TESCO has been carried out for some specific reasons. At academic level, this topichas been chosen to enhance knowledge on Globalisation as it plays vital role in businessexpansion and growth. At personal scale, this research will improve my analytical andcommunication skill that will help me out conducting better research in future. Along with this,researcher of this project is planning to work with TESCO, for this they are carrying out thisresearch. Along with this, it has been analysed that, globalisation is not only gives positiveimpact also this provide negative impacts on domestic businesses as environmental damage,fluctuation in prices, and many more. In addition to this, when climate can change it
automatically increase the pollution which direct affects the humanity and economy. On theother hand, fluctuation in price means in various companies there is vast differences betweentheir product which affect the level of competition and through this the price can be fluctuatedaccordingly (Watts, 2016). Research ObjectiveTo determine concept of globalisationTo evaluate role of globalisation in business growth of TESCO.To analyse major obstacles of Globalisation which are faced by companies whileexpanding their business at international scale. Research QuestionWhat is globalisation?What could be considered as a role of globalisation in business growth of TESCO.What are the major obstacles of Globalisation that are faced by companies whileexpanding their business at international scale.LITERATURE REVIEWa) Concept of globalisationAccording to a John Williamson, (2016), Globalisation has become a most familiar wordamong a business context. Globalisation is defined as process of interaction & integration amongpeople, companies and worldwide. In a business context, globalisation is recognised as mostutilised concept, which helps to know business situation along with its capacity to raises businessoperation at a greater period of time. Different author's has focused on concept of globalisation indifferent way, but consideration on business regulation is matter here (Olins, 2017). In context ofa business firm, globalisation has tried to put focus on creating business opportunities or statuson how business functioning will be expanded to domestic or international platform or process.Authors has told that globalisation has comes into reality after its application in a retail sector atgrowth stage. Williamson has focused emphasizes of globalisation on both creation ordevelopment of companies brand image in an international market place with a greater efficiencyor status. In retail sector, globalisation has contributed to starting of a business firm and engages
its growth till its survival in a business environment. In UK, retail firms are building its businessoperations at a greater term period along with suitability to earn higher profit at a maximumpoint of time. In current business era, globalisation is growing concept, especially in retail sectoralong with fortunate possibility to build business performances at both domestic andinternational sector. As per business era, globalisation does involves a level of an economic integration,transfer of all kind of policies across the border's, transmission of knowledge, cultural stability,reproduction and also increasing business relationship to operates business operation at a desiredpoint of time (Soutar, 2015). As per Martin Khor, globalisation spans a multitude of adisciplines, communities and also cultures, of course globalisation has been utilised as per theview point of an economic, social and political sector at a greater term period. In current periodof time, role of the globalisation is increased in parallel to defined rules or policies of businesssector at a wider stage. An impact of a globalisation is vast, as its effect's are need to b regulatedin response to what level of business outcomes firm is accomplishing or looks to get achieved ingiven point of time. Lastly, scope of an globalisation is focused on bringing outcomes out of anfirm operation at an optimised sector along with accomplishing business objectives or targets at ahigher level. b) Role of globalisation in the business growth:According to the Brandon Levy, (2015), globalisation is a process of increased level of aninterconnectedness among countries. The prosperous economic development has gained typicaloutcomes among different countries which has usually resulted into better standard of living andalso overall improved quality of life (O'Brien, 2017). A successful business growth of a nation orany business firm hinges on its abilities to globalises a business performance at the longer periodof time. Role of a globalisation is majorly consists of developing business entities along with adevelopment of potential and capabilities in context of how business outcomes can beaccomplished in given role of time. Globalisation such as expansion, development & carry outactivities has to be done with defined roles or responsibilities with a purpose to enhancesbusiness and operational outcomes to brings profit generation into the radar. In matter ofbusiness growth, globalisation has not shown effective outcomes to business entities to makebusiness work results oriented. In a retail sector, globalisation has shown good response in
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