The Impact of Globalization in the Retail Sector: A Study on Tesco PLC
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Added on 2020-10-22
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INTRODUCTION Globalization is very popular in the business operations because it carries out the business that will help to improve their performance and hence it will help in effective planning that assists an organization to have a good and effective placing of business operations and hence, will help the enterprise to have a good success that will improve its market presence. This research report will lay emphasis on the operations of Tesco PLC that will help in effective planning and development of leading the business operations on international level.
The Impact of Globalization in the Retail Sector: A Study on Tesco PLC
Added on 2020-10-22
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RESEARCH PROJECT
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3LO.1......................................................................................................................................................3RESEARCH PROPOSAL....................................................................................................................3LO. 2, 3&4..........................................................................................................................................10RESEARCH METHODOLOGIES....................................................................................................10Finding and Discussions.....................................................................................................................13DISCUSSION.....................................................................................................................................16RECOMMENDATIONS...................................................................................................................19REFLECTION....................................................................................................................................19ALTERNATIVE RESEARCH METHODOLOGIES.......................................................................20CONCLUSION..................................................................................................................................20REFERENCES...................................................................................................................................21
TITLE- “To investigate the impact of globalisation in improving the sales and profits oforganisation operating in retail sector. A study on Tesco PLC”. INTRODUCTIONGlobalization is very popular in the business operations because it carries out thebusiness that will help to improve their performance and hence it will help in effective planningthat assists an organization to have a good and effective placing of business operations andhence, will help the enterprise to have a good success that will improve its market presence. Thisresearch report will lay emphasis of the operations of Tesco PLC that will help in effectiveplanning and development of leading the business operations on international level. This report covers the proper proposal of the research process and activities carried outwithin organization. Besides this, assessment of various literature and methods are been placedwith an appropriate questionnaire. Suitable data assessment process is been carried out withappropriate recommendations and reflection on all the activities or functions that are been carriedout.LO.1RESEARCH PROPOSALBackground StudyGlobalisation has paved the way for increasing international trade across borders ineffective manner. By increasing the trade, sales and profits of corporations are eventuallymaximised up to a high extent. It is important contributor to overall performance of company. Inrelation to this, importance of globalisation for increasing sales and profits of Tesco PLC will beanalysed which contributes success of firm operating on global level. Moreover, findings will bedirected to accomplish efficiency gained by company in attaining desired amount of profits byfunctioning of top management. It will help the organisation to have a good growth.AIM: “To assess the influence of globalisation on the success of Tesco PLC in terms of salesand profitability”Objectives:To assess the trend of globalization in the modern era pertaining to UK retail sector. 3
To investigate the contribution of globalisation on the success of Tesco PLCTo study the impact of globalisation on the financial performance of Tesco PLCTo recommend how profits can be enhanced by Tesco PLC in international market. Research QuestionsWhat are the factors of globalisation leads to elevation of sales and profits of Tesco PLC?Do globalisation helps in improving sales and profits on international level by TescoPLC?Is the globalisation measures for improving sales and profitability that are been carriedwithin the firm are adequate?Rationale (Reason of choosing this project)This research or data assessment process will help the organisation to improve the qualityof business operations and hence, will lead the firm to have to identify the scope and feasibilityof its operations in much effective way. It can be said that the effective planning of theoperations and activities and thus will help in proper management of business operations whichwill help in effective placing of activities that will assess the organisation so that the quality ofretail operations can be improved and the firm become successful. This will help themanagement of selected business entity to carry out suitable measures and get the best solutionsof the problems that are been faced by the organisation. Tesco PLC has benefited by expandingin Hungary by acquiring large stakes in domestic retailers. This strategy has worked out to becrucial for company and has now over 205 stores in the country.Literature reviewAccording to Bailey and et.al., (2018), globalisation has led to provide internationalinfluence of organisations to compete with the global firms for gaining market share. Thecustomers have wider variety of goods and organisations are adopting tactics for attractingcustomers which are diverted to rivals and as a result, firms are able to attain internationalconnection with customers (Stirk, 2015). This has benefited customers as they are providing theirchoices and tastes and company is able to satisfy them by offering desired goods and services.The globalisation has led to enhance and increase in trade across borders of goods and services.Moreover, expansion of investment is made and availed by globally operating firms (Colen andSwinnen, 2016). This has led to maximise sales and profits up to a high extent and benefited4
retail sector. Furthermore, it can be analysed that globalisation has benefited customers as theyare able to wide choices of goods. Hence, it has direct impact on sales and profits of companies.Globalisation will have certain positive influence on the overall functionality of anorganisation. Especially, the sales and profitability of the selected retail enterprise will beimproved. As per views and findings of Charles Jr, Schmidheiny and Watts (2017), this can bestated that the globalisation measures are effectively placed within the operations which willimprove the quality of retail services (Globalisation and its impact, 2018.). It also improves theeffectiveness of the firm to carry out the business operations and thus will lead the organisationto have a good management of business operations on international level. This helps the firm toimprove the sales and revenue generation which are been carried out by selected retailorganisation. Operating on international level will not only provide the firm with a betterexposure but also aids into identifying the needs and demands of their customer within theoperating country as well as in the target nation (Corsi, 2016). It will pave the path of asignificant success and operations that are been carried out by the firm to improve the quality ofbusiness operations. Furthermore, it will lead the firm to improvise their activities and operationswhich will support a good growth of the firm.However, on the critical note, the research operations carried out by Wood and Wilberger(2015), states that the globalisation measures and activities that are been followed by the firmswill make them susceptible and prone to a wider level of competition. Such measures can beproved out to be financially suicidal for an enterprise as uncertainty about a proposed targetmarket can land out to disastrous consequences (Epstein, 2018). As globalisation processesinvolves a decent amount of financial resources, manpower and time, failure of these measurescan cause the company to have a major blow that can prove to be operationally fatal for theorganisation (Fleisher, 2017). Hence, the organisation is required to see through the propermanagement of globalisation and business expansion activities along with improving the productand service quality.Handling of selected retail enterprise, Tesco PLC will look after the proper assessment ofthe market conditions that will help in proper planning of business operations. The dataassessment and evaluation activities carried out by Shenkar, Luo and Chi (2014), indicates thatthe market research and assessment actions will help the firm to make effective strategies totackle out any sort of risk factors associated with the globalisation of the firm (Gilpin, 2018).5
This will improve the selling environment of the good and profit formation by the firm. It willlead the organisation to improve the quality of business operations that are been carried outwithin a business operation (Stirk, 2015). Hence, will lead the organisation to improve theoverall performance of selected retail enterprise. A proper market research will help the firm toimprove the quality of business operations and thus will lead the firm to improve the operationsof the business enterprise to a greater level.Other than this, the operations related to the globalisation will help the firm to improvetheir performance and thus, it will lead to a proper revenue generation. The findings andsuggestions of Yen and Abosag (2016), suggests that as a UK based retail enterprise, Tesco PLCis required to maintain the quality standards and placing of the proper operations which will helpthe selected retail entity to operate in much suitable and effective way. This will help in properassessment of operations and hence will lead the firm to penetrate and operate in foreign marketsin much effective way (Colen and Swinnen, 2016). The suitable carrying out of the marketresearch and data assessment actions that are been carried out within a target country will help ineffective placing of the organisation to a greater level (Importance of Globalisation forbusinesses, 2018). The proper planning will help the organisation to improve the quality ofbusiness activities (Corsi, 2016). The exposure on worldwide level will also aid a firm to get theproper exposure to improve the quality of activities. It will assist the organisation to cater theneeds and requirements of buyers or clients of the organisation on international level (Epstein,2018). This will also improve the quality of manufactured good and services, which will aid thefirm to gain a good sustainability (Gupta, (2018). Such measures plays a very crucial part inmaintaining the success of selected retail enterprise. Besides this, it will also improve thecustomer satisfaction level and revenue generation of the firm, increasing the effectiveness andsuccess of the organisation in much suitable way.Research methodologyIn order to identify the effectiveness of globalisation measures on success and growth ofa retail business enterprise like Tesco PLC, proper data assessment operations are been carriedout, that will assist selected enterprise to gain a good share of business activities in much suitableway. It will help management of Tesco PLC to determine the proper measures and activities toincorporate in their business expansion and globalisation plan for drafting out effective strategiesand hence will lead the firm to improve their quality of operations in much effective way. The6
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