Assessing Risks and Benefits: Aston Martin Joint Venture Project

This report provides a comprehensive analysis of the risks and benefits associated with Aston Martin entering international markets through a joint venture. It begins with an introduction to globalization and its impact on business operations, setting the stage for an examination of Aston Martin's market entry strategy. The report outlines the aims, objectives, and rationale behind the research, followed by a detailed project management plan, including cost, time, scope, resources, quality, and risk assessments. A work breakdown structure, timescale, and Gantt chart are also included. The research methodologies section details the inductive research approach, descriptive research design, and interpretivism philosophy employed. The report describes the sampling method (random sampling of 35 executives), data collection methods (primary data via questionnaires), and data analysis techniques (qualitative analysis), as well as ethical considerations. The data analysis and interpretation section presents key findings from the survey, including the executives' tenure at Aston Martin and their perspectives on joint ventures. The report concludes with recommendations for successful global market operations through joint ventures and a reflection on the research process. References and appendices are included to support the findings and analysis.

MANAGING SUCCESSFUL
BUSINESS PROJECT

Table of Contents
TOPIC:.............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Research Background.............................................................................................................1
LO.1.................................................................................................................................................1
P.1 Aims and Objectives........................................................................................................1
Rationale:................................................................................................................................2
P.2 Project Management Plan.................................................................................................2
P.3 Work break down structure, Timescale and Gantt Chart.................................................4
..........................................................................................................................................................5
..........................................................................................................................................................7
LO.2.................................................................................................................................................8
P.4 Research Methodologies..................................................................................................8
LO.3...............................................................................................................................................11
P.5 Data analysis and Interpretation.....................................................................................11
P.6 Recommendation............................................................................................................19
LO.4...............................................................................................................................................20
P.7 Reflection.......................................................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22
APPENDIX....................................................................................................................................24

TOPIC:
Identification of the risks and benefits of joint venture business to enter in international
markets for selected organisation.
INTRODUCTION
Research Background
Globalisation is a term which signifies the integration of economic, social and political
factors of the world's economy. It has resulted into higher level of interconnectedness of
economies of world. It is basically the integration and movement of people and goods among
different nations. It is because of the globalisation that business houses of different nations are
able to undertake their business operations on global level and at large scale. Various modes
have been created by the concept of globalisation for entering into global business market such
as joint venture, franchising, licensing etc (Globalisation, 2019).
The present project report is on Joint venture mode of entering the international market in
which the companies form alliance in which the ownership is shared, expenses, profit, return on
investment are shared by the allied companies. Aston Martin Lagonda Global Holdings plc
which is a British luxurious and grand tourers manufacturer. It is a public trading company listed
on London Stock Exchange, headquartered in Gaydon, UK. In the report, benefits and risks of
joint venture on the business and operations of Aston Martin will be assessed and the strategies
for overcoming the risks that arises due to joint venture on the firm.
LO.1
P.1 Aims and Objectives
Aim:
“To determine the risk and benefits of joint venture business to enter in international
market. A study on Aston Martin”.
Objectives:
 To identify the currents trends globalisation regarding entry modes in international
markets.
 To determine the benefits of joint ventures to enter in international markets.
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 To identify the complications or risk which organisations faced to enter in global market
through joint venture.
 To provide recommendations for successful operation in global market through joint
venture.
Research Question:
11 What are the currents trends globalisation regarding entry modes in international
markets?11 What are the benefits of joint ventures to enter in international markets?11 What are complications or risk which organisations faced to enter in global market
through joint venture?11 What are recommendations for successful operation in global market through joint
venture?
Rationale:
The research study is related to assessment of benefits and risks of joint venture on the
organisation is selected because globalisation is impacting each and every aspect of the
economic, social and political factors across the world. It is necessary to understand the positive
impact of globalisation on the decisions of businesses regarding the entry mode through which
they enter the global market (Thompson, Strickland and Gamble2015). Also, it is necessary to
find out the risks which are associated with the joint venture mode which is one of market entry
mode for taking rationale decisions to expand the business. Another reason is that this study is
going to help in the academics and professional life of the researcher.
P.2 Project Management Plan
Introduction:
Project management plan is defined as the document or statement which lay out each
stage of a project. It is basically a approved guiding document which stipulates how the project is
to be undertaken, what will be the activities that will be carried out for achieving the specific
objective, who will be included in accomplishing the project, how it is going to be reported,
measured and the method of communication throughout the project work. Scope and risks are
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another factors that also included in project management plan (What is Project Management,
2019).
Cost :
It can be described as the total amount of expenses which will be incurred for carrying
out the research. The scholar needs to be very diligent and rational about the allocation of the
expenses as improper allocation of the costs could disrupt the effectiveness of the research study.
Researcher has assigned the costs in the most rational way possible and the total cost for
completing the project was calculated to be …....
Time:
Completing a project within a specified time period is the essence of the effectiveness of
a project management. Time is essential for research study because if the project is not
accomplished within the stipulated time then it would result into unnecessary expenditure which
will reduce the accuracy and results of study (Cavusgil and Knight, 2015). Therefore, researcher
has made optimum allocation of time to different activities under the activities. Time which will
be taken for accomplishing this research study is …...
Scope :
It refers to all such things which are going to be covered by the research study. Present
research study's scope covers both academics and professional lives. The current study will aid
the students in understanding the concept of globalisation and how it impacts the decisions of
companies which are related to the market entry mode (Hohenthal, Johanson and Johanson,
2015). While for the professionals, the managers of Aston Martin will get an aid regarding how
they can minimise the risk of joint venture on their business.
Resources :
These are the materials, man, money, equipments and time which are needed for
undertaking research. Availability of adequate resources helps the researcher in conducting the
research in more effective manner through which highly accurate results could be drawn
(Heagney, 2016). For present study, scholar has been availed with financial and human
resources.
Quality:
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Quality of research study is required because viability and reliability of the outcomes of
the study depends upon the quality of research. The researcher has developed the project
management plan in such a way where quality aspect has been given a priority (Cleden, 2017).
For the purpose of maintaining the quality of research project, scholar has applied various
controlling tools such as key performance indicators, variance analysis and benchmarking.
Furthermore, the researcher is very careful regarding the authenticity of information gathered
from secondary sources.
Risk :
It refers to the uncertainty which has the potential of causing harm or loss. In conducting
research, there are various elements which the researcher have to take care of such as loss of
data, unauthorised use of data, ethical considerations etc (Kerzner and Kerzner, 2017).
Communication :
The literal meaning of communication is the transmission or exchange of information.
This aspect is crucial in research study because the information and conclusions drawn out of the
research study has to be communicated with the stakeholders who are interested in the outcomes
of the research. Scholar have applied various communication methods such as emails,
presentations, schedule etc., for transferring the information regarding the outcomes of the
present research study (Gillespie and Riddle, 2015).
P.3 Work break down structure, Timescale and Gantt Chart
Gantt chart & time scale
4

5

6

LO.2
P.4 Research Methodologies
Research methodologies refers to the framework that consist of various methods and
techniques for undertaking the research in the most structured manner possible (Prathap, Ali,
and Kamraju, 2019). Following are the research methods which the scholar has applied in its
research :
Research approach :
It is defined as the systematic plan and process which involves different assumptions
relating to data gathering methods, data analysis and interpretation. There are basic three types of
research approaches which the researchers use for conducting the research studies such as
inductive, deductive and abductive approaches. Inductive research approach is related to
establishment of new theory which emerges from the gathered data. Deductive approach is
connected with the scientific investigation of the research problem. It mainly complements
quantitative kind of research study (Wickramasinghe, McConchie and Haddad, 2017). In
abductive approach, the procedure begins with puzzles or facts and the entire research then
revolves around such facts or puzzles. In the present study, the scholar have applied inductive
approach which is highly suitable to the research studies which are based on qualitative data.
Therefore, with the application of this methodology, researcher was able to identify the benefits
of joint venture market entry mode due to globalisation.
Research Design :
This refers to the type of research study undertaken such as descriptive, experimental,
meta analysis, etc. In other words, research design means the structure which has been
established for answering or solving the research questions. Experimental design is such which is
developed for studying the cause and effect relationship while descriptive design is such which is
concerned with the studying the characteristics of the phenomenon (Mumtaz and Ashraf, 2017).
The researcher has applied descriptive research design through which it has been able to assess
the impact of globalisation on the market entry strategy of the company.
Research philosophy:
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This means the belief or perception of the research regarding how the data related to the
research topic/phenomenon should be collected, assembled, analysed, interpreted and used.
There are various philosophies which are used by researchers such as interpretivism,
pragmatism, positivism and realism. Positivism philosophy is characterised by highly structured
data, large samples and mainly related to quantitative research. Interpretivism research is
connected with small sample population so that more in-depth information about the
phenomenon (HABINEZA, 2018). The researcher in the current study has used interpretivism
research approach in which small number of respondents have been taken for gaining useful
insights related to benefits and risks which are associated joint venture mode of market entry.
Sampling: :
It can be defined as the procedure of choosing or selecting a subset from large number of
individuals within a targeted population for estimating the characteristics of entire population.
There are different techniques of sampling such as probability sampling and non probability
sampling. In probability sampling, there are further sampling kinds such as simple random,
stratified, systematic and clustered sampling (Quinlan and et.al., 2019). For the present research
study purpose, the researcher has applied random sampling method for assessing the impact of
joint venture on Aston Martin. Sample taken is 35 executives of company.
Data collection :
It is the systematic procedure of gathering the data from different sources for the purpose
of carrying out the research. Data can be collected by the use of two methods such as primary
and secondary data collection. Primary data is said to be that data which is gathered by the
scholar itself such as through experiments, survey, observations etc. Secondary data is that data
which is already available through different means such as government publication, business
journals, internet, etc (Taylor, Bogdan and DeVault, 2015). In the present study, the scholar have
employed primary data collection method in which it has gathered the information by the way of
questionnaire through it has able to grab the data related to Aston Martin take on market entry
strategy.
Data analysis:
It is the procedure of flittering and transforming the data meaningful information for
decision making. It is categorised into two units ; qualitative and quantitative data analysis.
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Qualitative data is unstructured and information is evaluated with the use of interviews,
questionnaire etc., whereas quantitative data analysis is properly structured and is measured and
analysed with the application of statistical tools such as SPSS etc (Hitt, Li and Xu, 2016).
Researcher has applied qualitative data analysis.
Ethical considerations:
Ethics are termed as the values and morals which aids in differentiating between what is
right and what is wrong (Ang, Benischke and Doh, 2015). In the current research study, the
researcher has considered following ethics during the research process which are:
 Maintained the confidentiality of the data collected.
 Did not ask any sensitive questions
 withdrawn option provided to participants
 participation of respondents
LO.3
P.5 Data analysis and Interpretation
Theme 1: Large number of Executives of Aston Martin is working for last 6 to 8 years.
PARTICULARS EXECUTIVES
4 to 6 yeas 10
6 to 8 years 18
8 to 10 years 7
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Interpretation: The above survey conducted from 35 executives of Aston Martin
regarding the aim and objectives and it has been identified that large number of executives are
working for last 6 to 8 years. They are the senior most employees of the company. On the flip
side, there were 10 respondents who were operating the business for last 4 to 6 years and rest of
7 were employed for last 8 to 10 years and they are also super senior employee's of the company.
From this, it has been identified that people are all the respondents are eligible to answer the
questions as they were attached with the company for ;many years so that know what is best and
worst for the company.
Theme 2: Large number of Executives of Aston Martin were agreed about the increasing
trends of global expansion among the countries.
PARTICULARS EXECUTIVES
Yes 22
No 13
May be 0
10
4 to 6 yeas 6 to 8 years 8 to 10 years
0
2
4
6
8
10
12
14
16
18
EXECUTIVES