Impact of Globalisation on Business Growth: ARCTIC Case Study Project

This project delves into the impact of globalisation on business growth, using ARCTIC, a Romanian household appliance producer, as a case study. The research explores globalisation's concept, benefits, and challenges, particularly focusing on joint ventures as a market entry strategy. It investigates ARCTIC's strategies for international expansion, identifies key benefits of globalisation, and examines the major challenges faced by globalized businesses. The project includes research questions, cost and resource requirements, risk assessments, and a Gantt chart with a work breakdown structure to effectively manage and complete the project. The study aims to provide a comprehensive understanding of how globalisation influences business operations and growth, offering valuable insights for businesses seeking international expansion and sustainable growth.

INTRODUCTION
Globalisation refers to free flow of goods and services at Global level in appropriate
manner. It is a process by which any business entity can expand its business operations
internationally in a competitive business market (ABUBAKAR and Tasmin, 2012).
Globalisation help company in reaching with domestic as well as international customer so that
they are gain high income and profitability in better manner. It can be used for maintaining and
managing business operations in order to achieving desired goals and targets effectively. While
expanding business functions and its activities, firm can easily analyse best suitable place where
they are acquirep a business entity in achieving their specific goals and objectives. The present
research is important for business organisations as it helps them in identifying certain factors,
which enhances their overall growth and development.
Justification of the topic
Background of study
This research is based on ARCTIC which is a largest Romanian producer of household
appliances. It was founded in 1968 by Murat Büyükerk with revenue of $300 million. The
company has production capacity of 2.6 million refrigerators every year. The research has been
been conducted to determine impact of globalisation on enhancing business growth of
organisation.
Significance of research
The main purpose of this research is help business organisations in gaining opportunities
that are to be used as competitive advantage. This will helps the business entities in expanding
their business operations, which eventually leads in maximising their profitability in a
continuously changing business market (Alfaro and Johnson, 2012). In this regard, it will also
help the chosen organisation Marks and Spencer is identifying certain factors, that will helps
them in achieving their specific goals and objectives. In addition to this, present research will
also help business organisations in identifying several challenges arises at the time of expanding
their business operations in order gain favourable benefits.
Scope
There are large scope to the researcher for conducting research and gather data. For
completing this research and find out the objective of the research, the researcher can use both

primary and secondary sources of data collection. In primary, the person can use questionnaire
and interview method to collect data. In secondary, with the help of books, journals, business
texts and others, the individual can gather information which is required to conduct research.
Limitation
It is basically related to time and fund because they create limitations for the researcher.
In this research project, fund can be generate limitations for the individual to do proper research
because it is not sufficient to conduct a research and gather needed information in appropriate
manner. The researcher use various tools and sources to collect data and they incurred cost so
some time, the person do not use suitable resources cause of lack of fund and time.
The aim of research
It is crucial part of the research as it helps a organisation in solving various problems
arises at the time operating their business activities in a business environment. This will help a
business entity in conducting its business operations effectively and efficiently, which leads in
achieving their aims and objectives.
The main aim of the research project is “To determine impact of globalisation on expanding
business operations through joint venture”. A case study on ARCTIC. The objectives of the
research
Research objective will help a business organisation in effectively operating their
business activities in accordance with their pre-determined objectives (Alvaredo and et. al.,
2013). The main objectives of this research is stated below:
To determine the concept of globalisation
To identify the major benefits of globalisation for business growth and success level.
To evaluate the strategies used by ARCTIC for entering a new market through joint venture.
To identify the major challenges faced by globalised business while expanding business
operations through joint venture.
Research questions
In this regard, research questions are framed in accordance with research objective,
which are stated below as:
Q1. What is the concept of globalisation?
Q2. What are the major benefits of globalisation for business growth and success level ?

Q3. What are the strategies used by ARCTIC for entering new market through joint
venture ?
Q4. How to identify the major challenges faced by globalisation while expanding
business operations through joint venture ?
Cost and resource requirements
The resources needed for an investigation will involves human resources and other
physical resources. As per the experts and specialist views, the researcher required to carry out
investigation in right direction which the help of different resources which are required for
completing such research. Such resources includes cost, technology, workforce and methods
which are helpful in achieving desired goals and targets effectively. An investigator use different
sources for collecting data such as online survey, observations, examination and so more. There
are various other resources required which includes computer internet and stationery materials
for successfully completion of the report.
Cost of research: For researcher, it is very important to properly define the cost needed for them
for conducting the research. Here, for conducting the research in appropriate manner, the cost
which is required by researcher is about £ 600, so that researcher complete the research in
effective manner and cover all the aspects.
Risk Assessment
Risk assessment are the risk, faced by researcher while conducting the research. In
present content, the time given to researcher for completing the research was not enough, due to
this risk of unauthenticated information get increased. Along with this, the another risk faced by
researcher is related to cost, as the fund provided for conducting the research were not enough.
Gantt Chart and Work Breakdown Structure
Gantt chart is a type of bar chart that illustrates a project schedule. This chart consist the
lists of tasks to be performed on the vertical axis and time intervals on the horizontal axis. Work
break down structure is used by manager of organisation, where they can manage the
performance of each and every function of their organisation. Also they can get information
about the performance of each and every individual. large number of buyers. There are several
challenges faced by a business entity, while expanding their business operations at global level
in a competitive business market. In this context, it is necessary for a business entity to formulate
effective business policies in accordance with the dynamic business environment. In addition to

this there are also some benefits that help a business entity in achieving their specific goals and
objectives. The present research is important for business organisations as it helps them in
identifying certain factors, which enhances their overall growth and development.
Justification of the topic
Background of study
This research is based on ARCTIC which is a largest Romanian producer of household
appliances. It was founded in 1968 by Murat Büyükerk with revenue of $300 million. The
company has production capacity of 2.6 million refrigerators every year. The research has been
been conducted to determine impact of globalisation on enhancing business growth of
organisation.
Significance of research
The main purpose of this research is help business organisations in gaining opportunities
that are to be used as competitive advantage. This will helps the business entities in expanding
their business operations, which eventually leads in maximising their profitability in a
continuously changing business market (Alfaro and Johnson, 2012). In this regard, it will also
help the chosen organisation Marks and Spencer is identifying certain factors, that will helps
them in achieving their specific goals and objectives. In addition to this, present research will
also help business organisations in identifying several challenges arises at the time of expanding
their business operations in order gain favourable benefits.
Scope
There are large scope to the researcher for conducting research and gather data. For
completing this research and find out the objective of the research, the researcher can use both
primary and secondary sources of data collection. In primary, the person can use questionnaire
and interview method to collect data. In secondary, with the help of books, journals, business
texts and others, the individual can gather information which is required to conduct research.
Limitation
It is basically related to time and fund because they create limitations for the researcher.
In this research project, fund can be generate limitations for the individual to do proper research
because it is not sufficient to conduct a research and gather needed information in appropriate
manner. The researcher use various tools and sources to collect data and they incurred cost so

some time, the person do not use suitable resources cause of lack of fund and time. The aim of
research
It is crucial part of the research as it helps a organisation in solving various problems
arises at the time operating their business activities in a business environment. This will help a
business entity in conducting its business operations effectively and efficiently, which leads in
achieving their aims and objectives.
The main aim of the research project is “To determine impact of globalisation on expanding
business operations through joint venture”. A case study on ARCTIC. The objectives of the
research
Research objective will help a business organisation in effectively operating their
business activities in accordance with their pre-determined objectives (Alvaredo and et. al.,
2013). The main objectives of this research is stated below:
To determine the concept of globalisation
To identify the major benefits of globalisation for business growth and success level.
To evaluate the strategies used by ARCTIC for entering a new market through joint venture.
To identify the major challenges faced by globalised business while expanding business
operations through joint venture.
Research questions
In this regard, research questions are framed in accordance with research objective,
which are stated below as:
Q1. What is the concept of globalisation?
Q2. What are the major benefits of globalisation for business growth and success level ?
Q3. What are the strategies used by ARCTIC for entering new market through joint
venture ?
Q4. How to identify the major challenges faced by globalisation while expanding
business operations through joint venture ?
Cost and resource requirements
The resources needed for an investigation will involves human resources and other
physical resources. As per the experts and specialist views, the researcher required to carry out
investigation in right direction which the help of different resources which are required for
completing such research. Such resources includes cost, technology, workforce and methods

which are helpful in achieving desired goals and targets effectively. An investigator use different
sources for collecting data such as online survey, observations, examination and so more. There
are various other resources required which includes computer internet and stationery materials
for successfully completion of the report.
Cost of research: For researcher, it is very important to properly define the cost needed for them
for conducting the research. Here, for conducting the research in appropriate manner, the cost
which is required by researcher is about £ 600, so that researcher complete the research in
effective manner and cover all the aspects.
Risk Assessment
Risk assessment are the risk, faced by researcher while conducting the research. In
present content, the time given to researcher for completing the research was not enough, due to
this risk of unauthenticated information get increased. Along with this, the another risk faced by
researcher is related to cost, as the fund provided for conducting the research were not enough.
Gantt Chart and Work Breakdown Structure
Gantt chart is a type of bar chart that illustrates a project schedule. This chart consist the
lists of tasks to be performed on the vertical axis and time intervals on the horizontal axis. Work
break down structure is used by manager of organisation, where they can manage the
performance of each and every function of their organisation. Also they can get information
about the performance of each and every individual.

Gantt chart

LITERATURE REVIEW
Concept of globalisation
According to the point of view of Lyons (2016), Globalisation is a process of building
social, cultural, economical and political interaction and interrelation at an global level. It will
help business organisation in free flow of their goods and services in international market. This
will also help business entities in increasing their market knowledge and ideas, which leads in
sustaining their productivity for a longer duration. In this context, the chosen organisation
ARCTIC is already operating its business activities at global level. There are several challenges
as well as benefits that are faced by business organisation at the time of expanding their business
activities.
Globalisation has both positive and negative factor which can put an impact on the
business of ARCTIC . For example: globalisation can provide a wider area to company for
expanding its business. On the other hand, in terms of negative impact it has increased the level
of competition between companies.
Major benefits of globalisation
According to the point of view of Lyons (2016), Globalisation helps a business entity in
expanding their business operations, which leads in gaining additional benefits. Some of the
benefits are discussed below as:
(a) Improving brand image
Globalisation helps business entities in operating their business activities at a global
level. This will help a business organisation in increasing their customer reach and also in
improving its brand image (Barca, McCann and Rodríguez‐Pose, 2012). In this context, the
chosen organisation ARCTIC is operating their business activities at an global level, this leads in
improving their market reputation.
(b) Learning and adapting new culture
While expanding business activities, it will benefit the chosen organisation ARCTIC in
identifying taste and preferences of their new customers. This will help the chosen organisation
in providing products and services to their potential customers in accordance with their needs
and requirement.

(c) Free trade
After globalisation, there is no restriction related to import and export of goods and
services to other nation. In this context, it will help the chosen organisation ARCTIC operating
their business activities at an international level and in maximising their profitability. It also
provides their consumers greater choice of products and services.
(d) Free movement of labour
After globalisation, there are many multinational organisations who are expanding their
business operation, which leads in creating more employment opportunities in a particular
nation. In this context, this also helps in increasing immigration of labour, which eventually
benefits employees as well as the nation.
(e) Foreign investment
The major benefit of globalisation is that it helps business entities in gaining foreign
direct investment opportunities, which leads them in operating their business activities smoothly
in a business market. In this context, this benefit is helping the chosen organisation ARCTIC in
gaining competitive advantage in a competitive business market.
Strategies used by ARCTIC for entering new market
According to the point of view of Purce (2014), it is necessary for the chosen
organisation ARCTIC to formulate effective business strategies in order to capture large market
share value. There are some strategies used by ARCTIC in order to enter new market are
discussed below as:
(a) Market development strategy
In this regard, the chosen organisation ARCTIC uses market development strategy in
order to identify market conditions. This is helping them in providing products and services in
accordance with needs and requirements of their potential customers in a business market. It is
helping them in retaining their profitability and productivity for a longer duration as compared to
their competitive firms. As the chosen organisation is already a reputed firm, which makes it
easier for a firm to enter into new market and maximise their profitability.
(b) Product development strategy
ARCTIC uses product development strategy in order to improve their products and
services in accordance with the needs and requirement of their potential customers. The chosen
organisation is dealing in clothing and they are manufacturing their products as per the latest

fashion trends. This is helping them in achieving their customer satisfaction, which leads in
improving their overall performance.
(c) Market penetration strategies
The chosen organisation uses market penetration strategies in order to be at the top in
international market. This strategy is also helping ARCTIC for improving their products quality
on a regular basis.
(d) Diversification strategies
ARCTIC uses this strategy in order to develop new product line with a motive to
increase their customer reach in a competitive business environment. This strategy will also
helps the chosen organisation in enhancing their overall growth and productivity.
(e) Joint ventures
In this context, the chosen organisation ARCTIC is planning for joint venture that will
helps them in accessing new markets and also in increasing their profitability in a business
market. This strategy will also helps the chosen organisation in sharing and cost with their
partners.
Major challenges faced by globalisation
According to the point of view of..., there are several challenges which ARCTIC is facing
at the time of expanding their business operations. The challenges are stated below as:
(a) Unfamiliar culture
It is considered as the major challenge faced by ARCTIC by globalisation. In this
context, it is essential for the chosen organisation to identify cultural factors while expanding its
business activities at an global level. It is necessary for a business entity to manufacture products
and services in accordance with the culture of a particular country. Thus, it will helps a business
entity in satisfying its customer base.
(b) Leadership
Globalisation helps a business entity in expanding their business operations, which leads
in improving its overall growth. It also created difficulty for the chosen organisation ARCTIC to
find effective leadership style in order to manage their business operations. As it is difficult for a
business organisation to change their leadership in accordance with the changing business
environment of a particular country. In this context, it is important for ARCTIC to appoint

efficient managers who have high intellectual competence. This will help a business organisation
in operating their business operations with effective leadership policies.
(c) Legal and regulatory sector
The legal laws and legislations differs from region to region, which sometimes creates
difficulties for a business entity in terms of operating their business activities (Benn, Edwards
and Williams, 2014). In this context, it is important for the chosen organisation ARCTIC to
understand legal laws and legislations, which leads in operating their business operations
smoothly in a business environment. It is also necessary for a business entity to ensure proper
operational planning before entering into new market, which helps them in maximising their
profitability.
Research methodology
It is a process of collecting relevant data for a particular research, which further helps in
decision making process of a business organisation. There are various methods of data collection
like, interviews, surveys, publications etc. It is the important part of the research as it help the
researcher in gaining appropriate outcomes (Boulouta and Pitelis, 2014). There are two method
of conducting research i.e. qualitative research and quantitative research. These methods will
help the researcher in obtaining appropriate knowledge regarding the specific topic. In this
context, it is essential for a researcher to conduct its research activities in an appropriate manner
in order to achieve its desired goals and objectives. The two types of research method are stated
below:
(a) Qualitative research: Researcher used this research method in order to collect non-
numerical data through open ended and conversational methods. In this research method, data is
collected by responses arises from asking questions to the particular respondents (Burbules and
Torres, 2013). The data collected by qualitative research is descriptive and easy to understand.
The data collected through qualitative research is relevant as compared to other sources of data
collection method. This research methods is used by investigator in order to gain in-depth
understanding of individual behaviours, thoughts and opinions.
(b) Quantitative research: It is the research method used by an investigator in order
gain quantifiable data by performing mathematical techniques. It is used to obtain results from
larger sample population in order to formulate facts. There are various methods of quantitative
research like online surveys, online polls, mobile surveys (Charles Jr, Schmidheiny and Watts,