Business Project: Globalization's Impact on Medium-Sized Businesses

Desklib provides past papers and solved assignments for students. This project analyzes globalization's impact on medium-sized businesses.

MANAGING SUCCESSFUL
BUSINESS PROJECT

TABLE OF CONTENTS
Introduction..................................................................................................................................................1
Task 1...........................................................................................................................................................2
P1 Devise project aims and objectives for a chosen scenario.................................................................2
P2 Produce a project management plan that covers aspects of cost, scope, time, quality,
communication, risk and resources..........................................................................................................3
M1 Produce a comprehensive project management plan........................................................................4
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion...............................................................................................................................................5
Task 2...........................................................................................................................................................7
P4 Carry out small-scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives...............................................................................7
M2 Evaluate the accuracy and reliability of different research methods applied....................................9
Task 3.........................................................................................................................................................10
P5 Analyze research and data using appropriate tools and techniques.................................................10
P6: Communicate appropriate recommendations as a result of research and data analysis to draw valid
and meaningful conclusions..................................................................................................................11
M3: Evaluate the selection appropriate tools and techniques for accuracy and authenticity to support
and justify recommendations.................................................................................................................19
Task 4.........................................................................................................................................................21
P7 Reflect on the value of undertaking the research to meet stated objectives and own learning and
performance...........................................................................................................................................21
M4 Evaluate the value of the project management process and use of quality research to meet stated
objectives and support own learning and performance.........................................................................22
Conclusion.................................................................................................................................................23
References..................................................................................................................................................24

LIST OF TABLES
Table 1: Cost allocation...............................................................................................................................3
Table 2: Project management plan milestone..............................................................................................4
Table 3: Gantt chart.....................................................................................................................................6
Table 4: Performance review.....................................................................................................................21

Introduction
Implementation of globalization supports the medium size organizations to increase their business
growth and profits. The present report will consider the topic of globalization for the medium size
organization like Hakim Optical that deals in variety of products such as eyeglasses, lenses, frames,
safety glasses and contact lenses fancy and prescribed by practitioners. Presently the organization deals
within UK and now thinking to expand their business but they are still unsure whether to adopt the
globalization or not in their business. On this basis, the entire project will be based by including project
plan, small research with drawing the reliable and accurate results. The study will give risk in the project
along with the recommendations of the study.
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Task 1
P1 Devise project aims and objectives for a chosen scenario
Introduction
Globalization is the interaction and collaboration within the companies, government and individual
process worldwide. For adopting globalization, the organization faces many challenges especially the
medium size organization but it also has the opportunity to compete in the global marketplace usefully
by evolution of logical steps (Dower and Williams, 2016). Small medium organization needs to develop
the strategies after examining the globalization forces. In the uncertain environment, major medium
enterprises have to do the considerable investment in their products manufacturing to serve the business
globally. But with that the organizations can increase their productivity, flexibility and quality by
reducing the cost as well overall.
In the present study, the medium size organization Hakim Optical is to be taken and the organization is
still not sure about the option of globalization is good or not to meet the competitive advantage. On this
account, the project covers the pragmatic vision, leadership approaches and competent business strategy
for the globalization impact on the business.
Project management and its stages
Project management is the process of initiating, planning, implementing, controlling and ending the
activities of the team to meet the particular objectives and achieve particular criteria of success at the
particular time (Boyle, 2017). The primary challenge is to meet all the project objectives in the allotted
limitations. It includes five stages that are:-
Concept & Initiation: In this stage charter of the project along with initiation is done and the project
feasibility is seen and the stakeholders will show their due diligence to give the support for deciding the
project.
Definition & planning: In this step, the project scope and budget, work breakdown structure, Gantt chart,
communication plan and risk management.
Launch & execution: At this step, tracking & status, quality, KPIs and forecasting is done
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Performance & control: The project objectives are measured, deliverables in relation to quality is
presented or not, tracking of cost and efforts are seen and performance measurement of all the key
aspects are overlooked and controlled (Harrison and Lock, 2017).
Project closure: At the final stage, the project is finished and only the requirement is to be done is post
mortem, project punch list and reporting.
Aims and objectives of the project
Aim: The project aim is to identify that whether globalization can drive business success of the medium
size business.
Objectives: The below presented are the objectives of the study:-
 To understand the concept of globalization
 To identify its impacts on business activities of medium size business
 To examine the challenges of globalization
 To develop the business strategies to be adopted by medium manufacturing organization to cope
with the challenges
P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication,
risk and resources
The project management on globalization drive business success includes various components that are
explained below:-
Scope: It can be referred as the project usefulness on the activities of the business and due to this the
scope of the present project is to meet the competitive advantage by carrying out the operation at global
level of Hakim Optical medium size business (Kerzner and Kerzner, 2017). It involves stakeholder
opinion and thoughts for taking the project in the most appropriate manner.
Cost: The investment for finishing the project will take £2000 with the emergency fund of £ 300 to
reduce the entire project risk.
Table 1: Cost allocation
Activities Investment
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Human resources (team members) 500
Technical resources (Software, Hardware and other
computing tools)
700
Small research 300
Questionnaire distribution 350
Documenting finally 150
Total £2000
Time: The estimation for completing the activities is two months so that proper analysis of the
international business can be done for the medium scale business for meeting the competitive advantage
in the market. In this concern, tasks are allocated on the basis of the WBS (work break down structure)
and distribution of time by considering the Gantt chart.
Quality: The project entire quality can be managed by applying the quality tools of management. For
instance: quality is ensured through preparation of WBS and Gantt chart to meet the desired objectives
on time. Further, controlling and monitoring is also done for managing the quality.
Risk: The complete plan is to be developed in suitable way thus there are various flaws that involve
incorrect management of time, taking unplanned events and many more that may influence the subject
with respect to meeting of desired objectives and purposes.
Limitations: The research limitations are regarding the resources and time management the project has
to be faced (Dionisio, 2017).
Resources: The important resource involves various equipments, amenities, human resource and funds
that contribute for meeting the several activities and tasks.
M1 Produce a comprehensive project management plan
Table 2: Project management plan milestone
Activities/Week 1s
t
2nd 3rd 4th 5th 6th 7th 8th
Topic selection
Aims and objectives
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definition
Manager and staff recruitment
Analysis of scope
Plan structure
Budget and time scheduling
Identification risk and
solution
Collection of information
Stakeholder’s communication
Data finding and analysis
Summary
Closing of the project
P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for
completion
Work break down structure
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Figure 1: Work break down structure
Gantt chart
Table 3: Gantt chart
Activities/Weeks 1 2 3 4 5 6 7 8
Planning step
Analysis of scope
Planning for time schedule
Development of context
Analysis of market
Requirements step
Analysis of stakeholders
Analysis of budget
Analysis of risk and benefits
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ProjectmanagementonglobalizationbusinesssuccessPlanAnalysisofscopePlanningoftimescaleDevelopmentofcontextAnalysisofmarketRequirementsofresourcesAnalysisofstakeholdersAnalysisofBudgetAnalysisofRiskandbenefitAnalysisofcompetitionPriordesigningSelectionofstrategyProposaldesigningMarketpotentialdeterminationDesigningPhysicalresourcesManagmentofriskMakingofdecisionExecutionDocumentationPLanexecutionTestingandreviewingTestphysicalinstallationAnalysisofqualityAfterexecutionDevelopmentandtrainingStakeholdersuggestionsClosingofproject

Analysis of competition
Prior-designing step
Selection strategy
Proposal for designing
Market potential determination
Designing step
Physical Resources
Making of decisions
Management of risk
Execution step
Documenting
Execute plan
Testing step
Test physical installation
Analysis of quality
After-execution step
Training and development
Stakeholders suggestions
Closing of project
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Task 2
P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate
for meeting project aims and objectives
Research strategy
Research type: There are two types of research that the researcher can undertake to carry out the
research. The first is quantitative research type and the second is the qualitative research type to conduct
the study (Bell et.al. 2018). But in the present research, the researcher had made use of quantitative
research type that gives statistical information in relation to the globalization business success of Hakim
Optical.
Data collection method: There are two types of data collection methods that are primary and secondary
data collection method for collecting the information. In the present study, the project manager had been
using the primary source of data collection method for collecting the fresh information from the
respondents. Further, this information cannot be biased in any case as it is collected by the researcher
themselves.
Sampling technique: This technique is supportive in determining the sample size for the topic to be taken
under study (Bryman, 2016). The sample size taken is based on random data sampling technique for
collecting the responses of the participants based on their experiences.
Quantitative research type (Primary collection method)
As the researcher is using the primary collection data method the questionnaire distribution method has
to be chosen to meet the business project objectives. The present study had chosen 50 employees of
Hakim Optical as participants to know the globalization as business driver to meet the competitive
advantage.
Questionnaire set
1. Do you have knowledge about the globalization concept?
 Yes
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 No
2. Does globalization supports to gain the competitive advantage by expanding the business to overseas
boundaries?
 Yes
 No
3. According to you, does the organization should enter or adopt the option of globalization?
 Yes
 No
4. What are the major benefits does the organization will have with the globalization adoption?
 Increase international productivity
 Offering low prices to customers
 Access to variety of products
 All of the above
5. What are the limitations or challenges does the organization will have with the globalization
adoption?
 Environmental degradation
 Declining employment growth
 Medium size business face extinction
 All the above
6. According to you, what are the business strategies that the organization should adopt in globalization?
 Targeting
 Branding
 Segmentation
 Penetration pricing
 Others
7. In the present competition, what are the ways of entering into the global market by organization?
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