Firehorse: Globalisation Strategies and Market Entry in China

This report examines Firehorse's globalisation strategies, focusing on its market entry into China. It explores the concept of globalisation, the strategies employed by Firehorse, including licensing and franchising, and their importance in the Chinese market. The report also delves into methods for monitoring financial transactions and minimizing costs. The research methodology employs a qualitative approach and interpretivism research philosophy. The literature review provides insights from various authors on globalisation, market entry strategies, and financial management. The study aims to determine the significance of globalisation and the strategies employed by Firehorse to enter the China market, providing recommendations for future business operations. The report includes a detailed table of contents, literature review, research methodology, and conclusion, offering valuable insights into Firehorse's approach to international expansion and financial management in a global context. This report is contributed by a student to be published on the website Desklib, a platform which provides all the necessary AI based study tools for students.

Research Project

Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
Research Aim: ............................................................................................................................1
Research Objectives:...................................................................................................................1
Research Questions.....................................................................................................................1
Rationale of Research.................................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................2
Concept of globalisation.............................................................................................................2
Different strategies employed by Firehorse to enter emerging market.......................................3
Importance of different strategies used by company to enter into emerging market..................3
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................4
Type of Investigation..................................................................................................................4
Research Approach.....................................................................................................................5
Data collection............................................................................................................................5
Sampling.....................................................................................................................................6
CHAPTER 4: TIMELINE...............................................................................................................6
CHAPTER 5: DATA ANALYSIS .................................................................................................8
CHAPTER 6: CONCLUSION AND RECOMMENDATION.....................................................17
Conclusion.................................................................................................................................17
Recommendation.......................................................................................................................17
CHAPTER 7: REFLECTION .......................................................................................................18
REFERENCES..............................................................................................................................19
.......................................................................................................................................................20

CHAPTER 1: INTRODUCTION
Globalisation consider as an important process of international integration that arise from
the interchange of the ideas, products and another aspects of culture. As per current scenario,
globalisation is result of closer ties in international trade that provide opportunities to business
organization to increase their trade. Along with this, it also help in increasing in investment
which is aided by the enhancement in information technology and communication as well. With
the assistance of this concept, business organization can easily expand their activities and also
start selling products to other countries (Boulouta and Pitelis, 2014). The main benefit of
globalisation is to reduce the gap between different countries by increasing trade and at the same
time also enhance wealth of the country. Mainly, it offers both benefits and challenges to the
business organization as it can provide opportunities for improving quality of life for various
people that may contribute in enhancing the economic growth. On the other side, it also leads to
challenges with the welfare of workers and the environment. Current report is based on
Firehorse, is a small business organization which operate their business with the aim of
enhancing their image at market place by providing their quality services in market place. With
the use of globalisation, company easily expand their business activities and also improve their
brand image. Thus, it is important for company to analyse market trends and culture before
globalising their business. This will support them in establishing competitive brand image at
market place.
Research Aim:
To determine the significance globalisation and different strategies employed by
businesses to enter into China market. A study based on Firehorse.
Research Objectives:
 To understand the concept of globalisation.
 To identify the different strategies employed by Firehorse to enter emerging market.
 To determine the importance of different strategies used by company to enter into China
market.
 To establish the methods which monitor every financial transaction and minimize the
cost.
1

Research Questions
 What is the main concept of globalisation?
 What are the different strategies employed by Firehorse to enter emerging market?
 What is the importance of different strategies used by company to enter into China
market?
 What is the methods which monitor every financial transaction and minimize the cost?
Rationale of Research
Concept of globalisation is an important aspect which provide various opportunities to
business organization to expand their activities at global level. This research is based on different
strategies which employed by the company with the aim of entering into emerging market (Crane
and Matten, 2016). With the assistance of this, investigator easily understand about the strategies
which help company at the time of entering into new market. The main aim of carry out this
research to increase skills and knowledge about the globalisation strategies through which
company easily operate their business into new market. The main reason for choosing
Firehorse as research base is because of small organisation which was
established in 2018 in order to gain more knowledge about it and entering
into new market for globalisation.
CHAPTER 2: LITERATURE REVIEW
This section play a significant role in carry out the research activities as it support
investigator to effectively analysis the information towards the specified research topic. With the
assistance of this, researcher can easily attain positive outcomes. Mainly, it includes different
views and opinion of various authors who has experience within the research topic. IT is related
with secondary source as the data is already published in different sources such as books,
journals, articles, newspaper and many more. All these are directly contribute in gathering
relevant data towards the research area.
Concept of globalisation
According to Williamson, (2019), globalisation is an important concept which includes
the process of integration among people, business and government in over the world. Mainly, it
includes various aspects such as global trade, investment, technology and culture that directly
influence the overall business activities. The main aim of implementing globalisation within the
2

organization is to expand business activities which may contribute in enhancing the market share
of the company. With the assistance of this, company get various benefits from the globalisation
concept such as free movement of labour, free trade, Greater competition, increased economic
scale and many more. All these are directly contribute ins making the organizational
performance more competitive. On the other side, company operate their business at global level
that require various aspects like skilled workforce, advancement in technology and so on that
help business organization to establishing their competitive brand image at global level.
Different strategies employed by Firehorse to enter emerging market
According to Cui, Meyer and Hu, (2014), it is important for business organization to
analyse market trends before operating their activities at global market. This will help them in
understanding the overall activities present at market place. In this context there are some
effective strategies that employed by the Firehorse with the aim of entering in China market
are as follows:
 Licensing: This type of strategy is also play a vital role in entering into new market in
which company allow local parties to use their name and products to sell under a license
agreement. In exchange of this owner of the company receive royalties in exchange. With
the assistance of this, company can easily increase their profitability level at market
place.
 Franchising: It is an important business strategy that allow another party to operate
business under their brand name. With the help of this strategy, company can easily
expand their brand. Under this, the franchiser grants the franchisee the right to use your
brand name and operating their system.
Importance of different strategies used by company to enter into China market
According to Hill, Jones and Schilling, (2014), Market entry strategies are important for
business organization to expand their activities at global level. Along with this, it is a planned
distribution and delivery method to serve products to a new target market. With the assistance of
this company can easily increase their overall profitability level and at the same time also make
strong customers base. In this context there are importance of strategies that used by Firehorse
with the aim of entering into Chaina market are as follows:
 Increase profits: When company use strategies to operate their business at international
level than they have opportunities to enhance their market share. With the assistance of
3

this, company invite large number of customers towards its offerings and at the same
time also provide them same to attain their satisfaction level. This will directly contribute
in increasing overall profitability level of he company.
 Improve brand image: Use of market entry strategies, company increase the chances of
capturing larger market share from its rivals. It help Firehorse to get opportunities to
make their brand image more popular by serving best quality services in China market.
This will directly contribute in making brand image more competitive as compare to its
rivals.
Methods which monitor every financial transaction and minimize the cost
According to Ocloo, Akaba and Worwui-Brown, (2014), it is important for every
business organization to monitor whole financial transaction so that they can measure the actual
performance of the company by minimizing unnecessary cost. While operating business at global
market place, it is crucial for Firehorse to manage their financial activities or
transaction in order to maximize the profitability level and at the same time
also increase the chances of establishing their competitive brand image. For
attaining the same, there are some systems which used by the company to
monitor every financial transaction to minimizing the overall cost. In this
regards, monitoring financial transaction is one of the effective transaction
monitoring software or system that allow company to monitor all the
transaction as per daily basis that may aid in increasing the chances of
attaining success at China market.
 Preparation of all the key financial systems is beneficial for business
to produce a balance sheet that includes all the profits/ losses of the
company. With the assistance of this, firm can easily evaluate their
actual performance at market place.
 Systematic preparation of Aged Debtors trial balance help company is
keeping track all the customers who owe them money.
 Working capital statement and financial ratio is also evaluate the
liabilities of the company and at the same time also evaluate that how
many assets they an convert quickly to cash so that unnecessary cost
can be easily cut down.
4

CHAPTER 3: RESEARCH METHODOLOGY
It is one of the important aspect of whole research work as it help researcher to carry out
the research activities in an systematic manner (Hilmersson, 2014). Mainly, it is related with the
theoretical evaluation of method which used by investigator with the aim of gathering accurate
information about the specified research area. For collecting relevant data, researcher is
responsible for selecting appropriate method so that they can easily undertake research activities
and also attain positive results.
Type of Investigation
Investigation is consider as a systematic process of collecting as well as analysing data
from various sources with the aim of discovering facts towards the research topic. Mainly, it
includes various aspects that should be valid, reliable and accurate so that researcher can be
submit in allotted time frame (Mathooko and Ogutu, 2015). It includes two type of investigation
such as:
Qualitative Research: This method is related with the observing as well as collecting
information from different sources in non-numerical form. It is related with theoretical
prospectives that may contribute in understanding respondents views and opinion towards the
research topic. As it includes open ended questions to collect data.
Quantitative Research: It is a method which is based on the systematic approach of
collecting as well as analysing information through different aspects such as survey,
questionnaire and many more. Mainly this type of information is gather in numerical form which
help in drawing a valid conclusion.
For this study, investigator will use qualitative research to gather information as it give
theoretical framework which help in understanding the respondents views and opinion towards
the research topic.
Research Philosophy
Research philosophy is a belief which is related with the way in which data should be
gathered, analysed and used (Lasserre, 2017). This method provide direction to the investigator
to gather information towards the research topic with the aim of taking right decision. Mainly, it
deal with nature, development and sources through which researcher easily analyse the
information. It is classified on two different types such as :
5

Positivism: This philosophy of research is based on the existing theory that implement
the theory (Ocloo, Akaba and Worwui-Brown, 2014). Mainly it is based on the ideas which help
in analysing the actual truth. It provide statistical information which help investigator to draw a
valid conclusion.
Interpretivism: This method is the form of qualitative methodology which relies upon
both the trained researcher and the human subject that help in measuring the information.
Mainly, it involves various aspects such as observation, interviews and many more.
Under this research, investigator will use interpretivism research philosophy as it help in
providing qualitative information through which investigator can easily evaluate the collected
data in effective manner.
Research Approach
It is consider as a process and plan that includes various stages of assumption to collect
in-depth information about the research topic. It help investigator to analysis the actual reliability
of the information within the study. In this context, there are two type of research approaches
such as:
Inductive: This type of research approach explore the new phenomenon that help in
developing a new theory. By this, research maker can easily collect reliable data which is relate
with research topic.
Deductive: This type of method is related with quantitative investigation which
emphasise on the causality. BY this researcher maker gather valid information from the different
sources with the aim of taking right decision (Oskam and Boswijk, 2016).
For this study, research maker will use inductive research as it give detailed information
to investigator towards the specified research area.
Data collection
Collection of data is important for every investigator to undertake the research activities
in systematic manner. In this, researcher gather information from various sources with the aim of
collecting accurate information. It classified on the basis of two categories such as:
Primary data: This type of information is collect for the first time from different
respondents with the purpose of gathering accurate data. Mainly, it reduce the duplicate
information because it is help in providing accurate information. As it includes different ways to
gather data such as questionnaire, face to face interviews, survey and many more.
6

Secondary data: This type of information gather from different sources which is already
published by this investigator can easily review the existing information (Sellar and Lingard,
2014). Mainly, it includes different sources such as books, journals, newspaper, articles and
many more.
Under this, investigator will use both primary and secondary methods which help them in
gathering accurate information. In primary, investigator prepare a questionnaire and in
secondary, researcher use books, journals and different authors views and opinion.
Sampling
Sampling is a process which used in analysing information in statistical manner. Mainly,
it includes number of observation from the large population with the aim of gathering
information about the research topic. For collecting data, investigator select 30 respondents by
using random sampling method as it is provide equal chances to the selected respondents. With
the assistance of this investigator can easily attain positive outcomes. The selected respondents
are staff of the company who have proper knowledge about the firm and its strategies used to
enter into emerging market.
CHAPTER 4: TIMELINE
This section is also play a vital role in completing research activities in effective manner.
In this, Gantt chart is refers to the horizontal representation that give graphical illustration of
whole schedule. It help in making plan and also tracking the project activities in systematic
manner (Rajwani and Liedong, 2015). Along with this, it includes all the activities along with
specified time frame. By this researcher maker can easily complete the research and also reduce
he chances of arising any kind of issues.
7

8

9

CHAPTER 5: DATA ANALYSIS
Questionnaire
Name:
Age:
Contact no.:
Email address.:
Q1 Are you aware about the concept of globalization?
a) Yes
b) No
Q2) What are the major factors which influence an organization to operate at global
level?
a) Technologies
b) Political factors
c) Markets and resource
Q3) What are the strategies which could be employed by Firehorse to enter in China
market?
a) Direct exporting
b) Licensing
c) Franchising
Q4) What are the major benefits which could be accessed by Firehorse through
internationalize its business activities?
a) Increase profits
b) Improve brand image
c) Provide new market and customers
Q5) What are the issues associated with globalisation of commercial activities?
a) Language barriers
b) Culture differences
c) Difference in currency
Q6) What are the essential resources require to implement commercial activities beyond
10

domestic boundaries?
a) Financial resources
b) Human resources
c) Technical resources
d) All of the above
Q7) What are the departments of organizations which are majorly involve in globalization
of company's operations?
a) Marketing department
b) Human resources department
c) Research department
d) All of above
Q8) What can be done by Firehorse to overcome with the issues of globalization?
a) Proper planning
b) Understanding of culture
c) All of above
Q9) Any recommendation for Firehorse related with its globalization?
Theme 1: Concept of globalization.
Q1 Are you aware about the concept of globalization? Frequency
a) Yes 20
b) No 10
11

Interpretation: Globalisation is an important concept for business organization to expand their
business activities at global market. As it provide opportunities to enhance their market share. In
this, 20 respondents are aware about the concept of globalisation and on the other side, 10 people
are not aware with this concept.
Theme 2: Technologies is the major factor which influence an organization to operate at
global level.
Q2) What are the major factors which influence an organization to
operate at global level?
Frequency
a) Technologies 15
b) Political factors 10
c) Markets and resource 5
12
20
10
a) Yes
b) No

Interpretation: Every organization wants to operate their activities at global level as it required
various factors that directly influence their activities. In this, 15 respondents give their views that
technologies are directly influence company activities at global level. Along with this, 10 people
are said that political factors are influence the company while operating business at global level.
On the other side, 5 respondents think that markets and resources are directly influence the
company at global level.
Theme 3: Direct exporting is the strategy that could be employed by Firehorse to enter in
China market.
Q3) What are the strategies which could be employed by Firehorse
to enter in China market?
Frequency
a) Direct exporting 15
b) Licensing 10
c) Franchising 5
13
15
10
5
a) Technologies
b) Political factors
c) Markets and resource

Interpretation: For operating business activities at global, Firehorse use effective strategies that
help them in entering into China market. In this context, 15 respondents are said that direct
exporting is an effective strategy employed by the company. 10 are in favour with Licensing and
on the other side, 5 people are think that Franchising is appropriate for company. In entering into
global market.
Theme 4: Major benefits which could be accessed by Firehorse through internationalize its
business activities.
Q4) What are the major benefits which could be accessed by
Firehorse through internationalize its business activities?
Frequency
a) Increase profits 10
b) Improve brand image 10
c) Provide new market and customers 10
14
15
10
5
a) Direct exporting
b) Licensing
c) Franchising

Interpretation: Globalisation provide various benefits to business organization to operate their
business at international level. In this, 10 respondents said that globalisation help in increasing
profitability level of the company. 10 people give their views that it improve the brand image of
the company at market place. On the other side, 10 respondents think that globalisation provide
new market and customers to the company.
Theme 5: Language barriers is associated with globalisation of commercial activities.
Q5) What are the issues associated with globalisation of commercial
activities?
Frequency
a) Language barriers 15
b) Culture differences 10
c) Difference in currency 5
15
10
10
10
a) Increase profits
b) Improve brand image
c) Provide new market
and customers

Interpretation: Concept of globalisation also create issue in-front of business organization while
operating business at international level. In this context, 15 respondents give their views that
language barriers is related with the globalisation of commercial activities. 10 people are think
that culture differences is also an issue in-front of company. On the other side, 5 respondents said
that difference in currency is also a issue for company at the time of globalising commercial
activities.
Theme 6: Financial resources is essential resources require to implement commercial
activities beyond domestic boundaries.
Q6) What are the essential resources require to implement
commercial activities beyond domestic boundaries?
Frequency
a) Financial resources 10
b) Human resources 8
c) Technical resources 7
d) All of the above 5
16
15
10
5
a) Language barriers
b) Culture differences
c) Difference in currency

Interpretation: For operating business at international market, company requires various
important sources that help them in improving their business at market place. In this context, 10
people are think that financial resources are important for company to implement commercial
activities beyond domestic boundaries. 8 respondents said that human resources are important for
company. 7 people give their views that technical resources are also significant for company to
operate their business at international level. On the other side, 5 respondents said that all the the
above resources are important.
Theme 7: Marketing department of organization is majorly involve in globalization of
company's operations.
Q7) What are the departments of organizations which are majorly
involve in globalization of company's operations?
Frequency
a) Marketing department 9
b) Human resources department 8
c) Research department 7
d) All of above 6
17
10
8
7
5
a) Financial resources
b) Human resources
c) Technical resources
d) All of the above

Interpretation: Globalisation is play a significant role operating business activities at global level.
In this different department are majorly involve in globalisation of company operations. In this, 9
respondents said that marketing department play a significant role in operating activities at
global level. 8 people are think that human resource department is involved in the business. 7
respondents think that research department include in the globalisation of company operations.
On the other side, 6 people are give their views that all of the above department are involve in
the operations of the business at global level.
Theme 8: Proper planning can be done by Firehorse to overcome with the issues of
globalization.
Q8) What can be done by Firehorse to overcome with the issues of
globalization?
Frequency
a) Proper planning 15
b) Understanding of culture 10
c) All of above 5
18
9
8
7
6
a) Marketing department
b) Human resources
department
c) Research department
d) All of above

Interpretation: From the above mentioned graph sit has been analysed that to overcome with the
issues of globalisation company use various ways. In this, 15 people said that proper planning
can be done by the firm to overcome from the issue. Along with this, 10 respondents think that
understanding of culture is also important for company. On the other side, 5 people give their
views that all of the above ways can be done by the Firehorse to overcome from the globalisation
issues.
Theme 9: Recommendation for Firehorse related with its globalization.
Interpretation: As per discussion, it has been recommended that Firehorse needs to analysis
China market before entering that help them in evaluating the current trends and customers taste.
With the assistance of this, they can established their competitive image and at the same time
also improve their market share as compare to its rivals.
CHAPTER 6: CONCLUSION AND RECOMMENDATION
Conclusion
From the above mentioned research it has been concluded that globalisation is an
important aspect for economy and business organization. It provide various opportunities to firm
to expand their business activities at international level with the aim of establishing competitive
brand image. In this context, various strategies are also employed by company to enter into
emerging markets. Along with this, it can be concluded that direct exporting is used by the
company which help them in establishing their business in China market. For attaining the better
success, company is responsible for making proper planning and market research which helps
organization to capture larger market share from its rivals.
19
15
10
5
a) Proper planning
b) Understanding of culture
c) All of above

Recommendation
From the above discussed research it has been recommended that globalisation is play a
crucial role in business organization as it help them in executing business operations at
international level to attain higher growth level. Firehorse is a small companmy which is focus in
expanding their business in China market for establishing competitive advantage. For attaining
the same, company should focus on analysing market trends of China before operating their
activities as it will provide better support in gabbing customers attention. Along with this,
company needs to use effective strategy like direct exporting to entering into emerging market to
grab opportunities to enhance their market share. This will directly contribute in making brand
image more popular and competitive in market place.
CHAPTER 7: REFLECTION
The research is based on the globalisation process and its strategies to enter into emerging
market. For gathering appropriate information about the topic various methods are used by
researcher to make whole research more successful. As a researcher I have chose primary and
secondary research method through which I can easily collect suitable information towards the
research topic in order to draw a valid conclusion. Along with this, I also face issue at the time of
undertaking research activities which is related with inappropriate time and cost. For resolving
this type of issue I prepare a plan which help me in reducing the chances of arising issue and also
support me in effectively gathering the information. In this research I develop questionnaire to
understand the respondents views and opinion but as a alternative method I also conduct an
interview which help me in gathering accurate information about the topic. With the assistance
of this, I ca easily draw a valid conclusion.
20

REFERENCES
Books and Journals
Boulouta, I. and Pitelis, C. N., 2014. Who needs CSR? The impact of corporate social
responsibility on national competitiveness. Journal of business ethics. 119(3). pp.349-
364.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Cui, L., Meyer, K. E. and Hu, H. W., 2014. What drives firms’ intent to seek strategic assets by
foreign direct investment? A study of emerging economy firms. Journal of World
Business. 49(4). pp.488-501.
Hill, C. W., Jones, G. R. and Schilling, M. A., 2014. Strategic management: Theory & cases: An
integrated approach. Cengage Learning.
Hilmersson, M., 2014. Small and medium-sized enterprise internationalisation strategy and
performance in times of market turbulence. International Small Business Journal. 32(4).
pp.386-400.
Lasserre, P., 2017. Global strategic management. Macmillan International Higher Education.
Mathooko, F. M. and Ogutu, M., 2015. Porter’s five competitive forces framework and other
factors that influence the choice of response strategies adopted by public universities in
Kenya. International Journal of Educational Management. 29(3). pp.334-354.
Ocloo, C. E., Akaba, S. and Worwui-Brown, D. K., 2014. Globalization and competitiveness:
Challenges of small and medium enterprises (SMEs) in Accra, Ghana. International
Journal of Business and Social Science. 5(4).
Oskam, J. and Boswijk, A., 2016. Airbnb: the future of networked hospitality businesses. Journal
of Tourism Futures. 2(1). pp.22-42.
Rajwani, T. and Liedong, T. A., 2015. Political activity and firm performance within nonmarket
research: A review and international comparative assessment. Journal of World
Business. 50(2). pp.273-283.
Sellar, S. and Lingard, B., 2014. The OECD and the expansion of PISA: New global modes of
governance in education. British Educational Research Journal. 40(6). pp.917-936.
Sleuwaegen, L. and Onkelinx, J., 2014. International commitment, post-entry growth and
survival of international new ventures. Journal of Business Venturing. 29(1). pp.106-
120.
Online
Williamson, J., 2019. Globalization: The Concept, Causes, and Consequences.[Online].
Available through:<https://piie.com/commentary/speeches-papers/globalization-
concept-causes-and-consequences>.
21

Research Proposal Form
Student Name: ______________________ Student ID:
____________
Centre Name: _____________________
Tutor: ________________ Date:
___________________
Unit: ____________________
Proposed Title: To determine the significance globalisation and
different strategies employed by businesses to enter into China
markets. A study based on Firehorse.
Section One: Title, objective,
responsibilities
Title or working title of the research
project (in the form of a question,
objective or hypothesis)
“To determine the significance
globalisation and different strategies
employed by businesses to enter into
China market. A study based on
Firehorse. “
Research objectives (e.g what is the
question you want to answer? What
do you want to learn how to do? What
do you want to find out?):
 To understand the concept of globalisation.
 To identify the different strategies employed
by Firehorse to enter into China market.
 To determine the importance of different
strategies used by company to enter into
China market.

 To establish the system which monitor every
financial transaction and minimize the cost.
2

Section Two: Reasons for choosing
this research project
Reasons 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 is important):
The main purpose of carry out the
research is to enhance knowledge and
ideas of learner towards the concept of
globalisation and its importance for
business organization. Along with this,
another reason is to analyse the
strategies employed by the company with
the aim of entering into China market.
With the assistance of this, investigator
can easily increase their experience
within the area. The main reason for
choosing Firehorse as research base is
because of small organisation which was
established in 2018 in order to gain more
knowledge about it and entering into
new market for globalisation.
Section Three: Literature sources
searched
Use of key literature sources to
support your research question,
objective or hypothesis:
Concept of globalisation
According to Williamson, (2019),
globalisation is an important concept
which includes the process of integration
among people, business and government
in over the world. Mainly, it includes
various aspects such as global trade,
3

investment, technology and culture that
directly influence the overall business
activities. The main aim of implementing
globalisation within the organization is to
expand business activities which may
contribute in enhancing the market
share of the company. With the
assistance of this, company get various
benefits from the globalisation concept
such as free movement of labour, free
trade, Greater competition, increased
economic scale and many more. All these
are directly contribute ins making the
organizational performance more
competitive.
Different strategies employed by
Firehorse to enter China market
According to Mark Hedley (2019), it
is important for business organization to
analyse market trends before operating
their activities at global market. This will
help them in understanding the overall
activities present at market place.
In this context there are some effective
strategies that employed by the
Firehorse with the aim of entering into
emerging market are as follows:
 Licensing
 Franchising
Apart from above, they can identify
4

market first, choosing location, analysis
of policies and regulation of government,
conduction of market research and hiring
staff (Entering Chinese Business-to-Business
Markets: The Challenges & Opportunities, 2019).
Importance of different strategies used
by company to enter into China
market
According to Hill, Jones and Schilling, (2014),
Market entry strategies are important for
business organization to expand their
activities at global level. Along with this,
it is a planned distribution and delivery
method to serve products to a new target
market.
 Increase profits: When company
use strategies to operate their
business at international level than
they have opportunities to enhance
their market share.
 Improve brand image: Use of
market entry strategies, company
increase the chances of capturing
larger market share from its rivals.
System which monitor every financial transaction
and minimize the cost
According to view of Wolter Klumer, 2019, various
systems are used for daily recording of business
transactions. It includes sale revenues, account
payable, account receivable and summarisation of
5

ledger account. There are various system used by
business for monitoring transaction and minmizing
cost (Daily Recording of Business Transactions,
2019)
Williamson, J., 2019. Globalization: The Concept,
Causes, and Consequences.[Online].
Available
through:<https://piie.com/commentary/spee
ches-papers/globalization-concept-causes-
and-consequences>.
Hill, C. W., Jones, G. R. and Schilling, M. A.,
2014. Strategic management: Theory &
cases: An integrated approach. Cengage
Learning.
Mark Hedley. Entering Chinese
Business-to-Business Markets:
The Challenges & Opportunities.
2019. [Online]. Available through:
<https://www.b2binternational.co
m/publications/china-market-
entry/>.
Wolter Klumer. Daily Recording of Business
Transactions. 2019. [Online]. Available
through:
<https://www.bizfilings.com/toolkit/researc
h-topics/finance/basic-accounting/daily-
recording-of-business-transactions>.
Section Four: Activities and
timescales
Activities to be carried out during the research
project (e.g research, development and analysis of
ideas, writing, data collection, numerical analysis,
tutor meetings, production of final outcome,
evaluation, writing the report):
Activities Duration
Determination of topic 12 days
How long
this will
take:
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Creation of aims and objectives 14 days
Literature review 16 days
Research methodology 18 days
Questionnaire preparation 8 days
Data collection 13 days
Data analysis 15 days
Conclusion and recommendation 1 day
Milestone one: Started research and
completed half portion that is up to
questionnaire preparation of report.
Target date (set by tutor): 12/03/18
to 3/6/19
Milestone two: Data collection was
done and reach to the stage of
conclusion and recommendation
Target date (set by tutor): 3/6/19 to
4/6/19
Gantt Chart
7

8

Section Five: Research approach and
methodologies
What type of research approach and
methodologies are you likely to use
and why? What your areas of
research will cover:
Research approach: It is consider as a
process and plan that includes various
stages of assumption to collect in-depth
information about the research topic. It
help investigator to analysis the actual
reliability of the information within the
study. In this context, there are two type
of research approaches such as Inductive
and Deductive research approach. For this
investigation, research will select inductive research
as it help in providing in-depth information towards
the research topic.
Types of investigation: Investigation is consider as
a systematic process of collecting as well as
analysing data from various sources with the aim of
discovering facts towards the research topic. Mainly,
it includes various aspects that should be valid,
9

reliable and accurate so that researcher can be
submit in allotted time frame. It includes two type
of investigation such as Qualitative Research and
Quantitative Research. In this research, investigator
will select the qualitative research as it help in
gathering reliable information about the research
topic.
Data collection: Collection of data is important for
every investigator to undertake the research
activities in systematic manner. In this, researcher
gather information from various sources with the
aim of collecting accurate information. It classified
on the basis of two categories such as primary and
secondary. In this research investigator use both
primary and secondary method of data collection to
gather reliable information.
Data sampling: Sampling is a process which used
in analysing information in statistical manner.
Mainly, it includes number of observation from the
large population with the aim of gathering
information about the research topic. For collecting
data, investigator select 30 respondents by using
random sampling method as it is provide equal
chances to the selected respondents.
The method which is used for research is primary
data collection with help of Qualitative method.
Here, questionnaire is prepared to get answer of
question. The respondents selected for research is
stakeholder that includes manager, consumers,
outside and other to get effective results.
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Comments and agreement from tutor
Comments (optional):
I confirm that the project is not work
which has been or will be submitted
for another qualification and is
appropriate.
Agreed: ________________
(name)_______________ Date
______________
Comments and agreement form
project proposal checker( IV
sampling)
Comments (Optional):
I confirm that the project is
appropriate.
Agreed /Disagree:
(Name of the IV)
Date
11