The Influence of Globalisation on Trailfinders: A Detailed Research

This research project examines the influence of globalisation on the success of a business organization, specifically focusing on Trailfinders, a travel agency. The study explores the concept of globalisation, its factors contributing to business success, and the challenges faced by Trailfinders in expanding internationally. The research utilizes a literature review, outlining the economic, political, social, and cultural aspects of globalisation and its impact on businesses. The report investigates the role of technological advancements, economies of scale, and tax systems in facilitating international trade. Furthermore, it highlights the challenges such as foreign laws, regulations, and accounting practices that Trailfinders must navigate. The research aims to analyze globalisation's importance, identify success factors, determine its influence, and assess potential challenges, providing valuable insights for businesses aiming to operate on a global scale. The research also includes a detailed methodology, results, discussion, timeline, alternative research methods, conclusion, and recommendations.

RESEARCH PROJECT

EXECUTIVE SUMMARY
Present document is based on globalisation where it refers to one of biggest concept in
today's world, which aid organisations in moving their business on international market. By
making business globalised, companies gain advantage to launch their products and services in
foreign area more easily. It leads to enhance sales performance as well as generate high
profitability as well. This present research showcases the major implications of globalisation for
travel agencies. It helps in increasing growth and success of business by attracting more national
and international tourists towards services. For analysing how globalisation helps in getting high
competitive advancement, Trailfinders have been chosen in present research. Here, various
research methodologies have been used to conduct investigation in deep manner.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
TOPIC : “To analyse the importance of globalisation and its influence on success of a business
organisation. A study on Trailfinders.”............................................................................................1
INTRODUCTION...........................................................................................................................1
Background of the Research...................................................................................................1
Rationale of investigation.......................................................................................................2
Research Aim.........................................................................................................................2
Research Objectives...............................................................................................................3
Research Questions................................................................................................................3
LITERATURE REVIEW................................................................................................................3
RESEARCH METHODOLOGY.....................................................................................................6
RESULTS/FINDINGS....................................................................................................................8
DISCUSSION................................................................................................................................10
TIMELINE OF RESEARCH ACTIVITIES..................................................................................18
ALTERNATIVE RESEARCH METHOD....................................................................................20
CONCLUSION..............................................................................................................................20
RECOMMENDATIONS...............................................................................................................21
REFLECTION...............................................................................................................................22
REFERENCES..............................................................................................................................23

TOPIC : “To analyse the importance of globalisation and its influence on success of a
business organisation. A study on Trailfinders.”
INTRODUCTION
Globalisation is being considered as a process which helps business organisations to
develop their image at international scale. In modern times, companies that have kept their focus
on improving their profit margins and working at international level can easily help them out in
earning more money based on expectations (Crane and Matten, 2016). But, it has not been easy
for firms to do business at international market because there are ample number of challenges
that could be faced by them while launching products or services across the boundaries. On the
other hand, globalisation process is also developing interdependence of countries in all over the
world by maximising variety as well as volume of the cross- border transactions in services and
products.
On the other hand, every single country has its own means of exchange (monitory). Thus,
this could directly impact upon strategies made by business organisation for performing well at
international market. If it is talked about one of biggest impacts which globalisation carries on
small businesses is because of internet connection as business firms in modern world uses
internet through which maximum benefits could easily be gained by them right on time and
through this they may easily perform well at global market. Internet could be considered as one
of effective tool that could help small business organisations to target consumers of different
areas. On the other hand, it is being analysed that business firms have been performing well at
global level because of a reason and i.e. internet, where consumers basically can reach into their
pocket, pull out their smartphone, and access products or services you are trying to sell. This has
the potential to massively increase the revenue of any small business beyond what they were able
to produce prior to globalization taking effect (Crane and Matten, 2016).
Background of the Research
Globalisation have been one of crucial subject to study which is playing an important role
for both small and medium level organisations to perform their operations at international level.
On the other hand, it has also been analysed that globalisation has helped in economic
development of countries with the help of foreign direct investment approach. But, ample
number of issues like energy and environmental security, conflicts and poverty, global
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imbalances, rise of new powers, governance could be considered as factors that could stop
companies like Trailfinders to expand their business at international level.
A travel company, named as Trailfinders which was found in the year of 1970 by Mike
Gooley is doing business among few countries and it has offices among United Kingdom along
with Ireland. Company is looking forward to expand its business among different nations where
it is not performing the its business. Due to issues like energy and environmental security,
conflicts and poverty and global imbalances company is not been able to do so. This has
impacted negatively on their productive level and on plans as well related to expansion
(Dunning, 2015).
Apart from this, major issue that researcher have found was that Trailfinders was not
been able to improve its existence and this happened because managers and leaders did not
carried used right social media tools that are used by public the most, this impacted negatively on
their performance level. Making the company globalised, it is required for Trailfinders to adopt
best suitable strategy so that maximum benefits could be gained by them and this should cosider
different social media tools and it will also be required for them to keep their focus on building
themselves at the best looking at energy wastages, environmental security and other factors as
well (Bendell, 2017).
Rationale of investigation
Basic importance of choosing this topic is that, globalisation has influenced and given
opportunities to SMEs to perform operations at international level. But, they might face a
number of issues linked with energy and environmental security, conflicts and poverty and this
could create barriers for organisations like Trailfinders to perform well at international level. On
the other hand, it has also been analysed that conflicts among two nations could directly create
issues for Trailfinders in expanding its business at international level. Henceforth, this is the
basic reason behind choosing this topic for conducting the investigation (Charles Jr,
Schmidheiny and Watts, 2017).
Research Aim
This section plays a crucial role for an investigation because without an aim, a research
cannot be conducted. In present research, main aim is “To analyse the importance of
globalisation and its influence on success of a business organisation. A study on Trailfinders.”
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Research Objectives
Another section which basically aid an investigator to draw favourable outcomes related
to issues which is being carried out for improving knowledge level. In present time, some of
objectives are given beneath:
 To understand the concept of Globalisation.
 To examine factors of globalisation that can lead Trailfinders to success.
 To identify the influence of globalisation in making a business successful.
 To determine challenges that could be faced by Trailfinders while globalising their
findings.
Research Questions
 What is concept of Globalisation?
 State a few factors of globalisation that can lead Trailfinders to success?
 How globalisation influence business organisation in making it much more
successful?
 What are the challenges that could be faced by Trailfinders while globalising their
business?
LITERATURE REVIEW
It is the second and core area of an investigation work in which data and information is
being gathered through secondary sources like books, journals, newspapers, magazines, online
sites etc. In this part past exploration work will take a positive part in analysing the actual and
reliable information for the purpose of creating appropriate theoretical framework with actual
facts and figure. In this section, proper evaluation is given through analysing the perspective of
various authors and writers who are providing any sort of information regarding the similar area
of the study (Shenkar, Luo and Chi, 2014).
Concept of Globalisation
According to Bendell, (2017), Globalisation refers to process of intensification of
economic, political, social and cultural relation across internal boundaries. It represent global
integration of international trade, investment, information technology and cultures. Eventually, it
has been designed with government policies to open economies, domestically and internationally
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to boost development in poorer countries and help in raising standard of living foe general
people.
Away with this, globalisation has helped in developing a number of policies which
directly impact positively on multinational corporation at worldwide so that less damage could
be found on small and medium level business organisations. Economically, globalisation is
involved in goods and services, advancement of technologies and expansion of market with
economic activities of exchange of goods and funds. As it has been grown due to advances of
transportation and communication technologies, increasing growth of international trade, ideas
and culture. In other words, it can be said that globalisation is a process of interaction and
integration among people, companies and government worldwide.
A few factors of globalisation that can lead Trailfinders to success
As mentioned by Shenkar, Luo and Chi, (2014), a few factors of globalisation that can
lead Trailfinders to success are given beneath:
Technological change : Rapid growth among technology and the alterations among them
have been basically an opportunity for Trailfinders to reduce cost related to transmitting or
transferring the data or information. This could be considered as one of vital key factor behind
trade in knowledge products using web technology.
Economies of scale : Many economists believe that there has been an increase in the
minimum efficient scale (MES) associated with travel and tourism industry. Here, it can be said
that if minimum efficient scale is increasing that the domestic market may directly satisfy basic
merchandising needs of travel and tourism sector.
Differences in tax systems : Here, it is being found that desire based on businesses to
benefit from lower unit labour costs and other favourable production factors abroad has
encouraged countries to adjust their tax systems to attract foreign direct investment (FDI).
Influence of globalisation in making a business successful
As given by Charles Jr, Schmidheiny and Watts, (2017), global economy is steadily
integrating. This is directly taking business firms from national economies to the international
one. Basically, globalisation has impacted in both positive and negative manner on businesses
and this could be seen with the help of an example of travel and tourism industry. There was a
time when travel agencies used to import foreign-made policies US or any other country to
minimal and such imports were either exotic or exorbitant. But, if it is talked about 21st century,
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things have changed in this industry and companies that are dealing at small level in the same
industry tries to offer the same as big firms like Trailfinders and others are performing. This
could directly aid them in reaching to an all new level. Surprisingly, almost all of the business
organisations basically makes modifications on common packages. Since tourist places are
limited offering best, business organisations like Trailfinders are performing really very well
through offering travellers with different deals with minimal costs so that maximum benefits
could be gained by them (Wheelen and et. al., 2017).
Challenges that could be faced by Trailfinders while globalising their business
As given by Bolman and Deal, (2017), managing organizations at global level have been
crucial because there are ample number of challenges that could be faced by industries. It is
being found that, international monetary fund basically confirmed that fastest-growing
economies during the years ahead will all be in emerging markets.
Against this backdrop, continuing advances in information and communications
technology have made possible new forms of international coordination within global companies
and potential new ways for them to flourish in these fast-growing markets. Here, Trailfinders is
not performing well it can be said that change among monitory in different countries could be
kept as backdrop or challenge for Trailfinders while doing business at international level.
The other challenges faced by travel agencies including Trailfinders are given as beneath:
 Foreign laws and regulations: It is considered as one of the biggest challenge in
front of travel agencies, because every country has own laws and legislation. In this
regard, major issue arise while designing travel packages, where organisations need
to concern on foreign rules and regulations related to particular destinations. It also
includes labour employment laws which are differ by country. Therefore, making
employment documents as per different-different laws is also create difficulties in
globalising the business.
 International accounting: In globalisation, accounting strategy refers to a key for
maximising revenue when a company operates its business in international
marketplace. But for this purpose, it is essential for such organisations to being aware
of tax treaties between nations where business is trading. Therefore, if Trailfinders
not concern this point while globalising the business, then it may pay double taxes
unnecessarily.
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 Cost calculation and Global pricing strategy: Setting price of particular tour
packages and services, can also be referred as challenges when travel agencies doing
business overseas. In this regard, Trailfinders have to remain competitive in order to
gain profitability. Along with this, for launching products or services, its manager
also need to develop effective global strategies. It includes customer segmentation,
monitor strategies of rival companies, find right place to launch product or service
and more.
RESEARCH METHODOLOGY
It refers to theoretical and systematic analysis of methods which are applied to field of
study. It is comprises with theoretical analysis of methods body along with principles which are
related with knowledge branch. It is helpful in provide the theoretical underpinning for
understand an effective method, set of the methods and better practices which can applied to
particular case (Andriof and et. al., 2017). Apart from this, this section is considered as the key
aspect of investigation work as it helps the investigator in providing appropriate direction to
implement the exploration activities in right manner. Research methodology refers as a
theoretical and systematic evaluation of the methods that are applied to a selected area of study.
It mainly comprises as a theoretical analysis of the body of various methods and principles which
are associated with a branch of knowledge and idea (Grayson and Hodges, 2017). This part of
research is based on various applications that are effective in assisting the overall activities in
systematic direction.
Type of Research Methods
It is explained as scientific as well as systematic process related to data collection,
analysis, interpretation and compilation related to specific area. Under this, there are two
different kinds of research methods which are given below:
Qualitative method- In this, data is measured on theoretical basis and helpful in gain
understanding the underlying opinions, motivations and reasons. It gives an insight in issue to
develop effective ideas.
Quantitative method- It is another method of investigation. It is systematic empirical
observable research through using computational, statistical and also mathematical techniques. In
this, data or information is measured in context to numerical basis (Rushton, Croucher and
Baker, 2014).
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For conducting the present investigation, investigator have used qualitative method
because it will not be possible for carrying out the best results using quantitative approach.
Research Approaches
It refers to procedure and plan which included steps of wider assumptions to detailed
methods related to data collection, measure and then interpretation. An effective research
approach is helpful in address the arisen issue. There are two different kinds of research
approaches and these are inductive and deductive.
Inductive approach- It is related with the qualitative research and its main focus on
explore the new phenomenon.
Deductive approach- It is based on an existing theory and designing an investigation
strategy for test hypothesis. This approach is based on quantitative research method and
emphasis on causality.
Among both approaches, an investigator have used inductive research approach because
its provides the information related to specific area i.e. globalisation in detailed manner (Benn,
Edwards and Williams, 2014).
Research techniques
It describes methodological rationale of investigation along with subsequent analysis. In
order to conduct an investigation, researcher uses the different techniques related to an
investigation. There are different techniques of research such as questionnaire, modelling,
interviews etc. Apart from this, these all are the sources of primary research and provide accurate
data related to particular research area. In addition to this, investigator face some difficulties
related to time and cost. For conducting the investigation related to issue which has been raised
by investigator, questionnaire approach have been used.
Data collection
Data collection refers to procedure of gathering as well as measuring information on the
target variable in establish system that helps in provide relevant questions and also provide better
outcomes. Under this, there are two different methods of data collection and these are primary
and secondary (Grayson and Hodges, 2017).
Primary data collection- Under this, data or information is collected for first time by
using different sources for an instance surveys, questionnaire, interviews etc. Customers of
Trailfinders are the basic source of information who has played the role of respondents while
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conducting the questionnaire. The activities related to questionnaire are performed with due
permission of customers.
Secondary data collection- It is another method of collecting data related to particular
research area. The various sources which researcher use in collecting data are books, journals,
articles, magazines and many different sources (McNair, 2017).
In present investigation, researcher have used both secondary and primary data collection
method so that right information could easily be carried out related to set topic. Away with this,
30 respondents that has been taken for conducting the investigation, for the basic purpose and i.e.
to analyse the influence of globalisation on business organisations.
Analytical techniques
It refers to method to analyse some issue or fact. Generally, it is task and time limited. In
order to analyse data or information, researcher have used the Thematic analytical technique
(Jensen, 2017).
RESULTS/FINDINGS
Globalisation have been one crucial factor which has helped business to reach to the
success level where they could easily improve profit margins in specific time frame. Myth
related to borderless global market is basically crashing down. Away with this, since
globalisation have been one of the crucial thing to understand, traditional pillars of open markets
like United States an UK are unsteady (Adekola and Sergi, 2016). Here, China has positioned
itself as globalisation’s constant performer. Away with this, in the year of 2016, Brexit basically
got stunned on the basis of European Union's actions, and the news coverage about globalization
turned increasingly negative in the U.S. as the presidential election campaign progressed.
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