Globalization and Business Success: A Research Project

Desklib provides past papers and solved assignments for students. This project explores how globalization drives business success.

RESEARCH PROJECT
How globalisation can drive business success

Table of Contents
INTRODUCTION/BACKGROUND TO THE RESEARCH......................................................................2
RESEARCH QUESTION (S)/HYPOTHESIS..........................................................................................3
RESEARCH AIM AND OBJECTIVES...................................................................................................3
LIMITATION OF STUDY...................................................................................................................3
LITERATURE REVIEW......................................................................................................................4
RESEARCH METHODOLOGY........................................................................................................... 5
COSTS OF THE UNDERTAKING PROJECT.....................................................................................5
ACCESS TO DATA........................................................................................................................6
ETHICAL ISSUES..........................................................................................................................6
QUESTIONNAIRE........................................................................................................................ 6
DATA ANALYSIS..............................................................................................................................9
RESEARCH FINDINGS....................................................................................................................17
POSTER PRESENTATION TO COMMUNICATE RESEARCH OUTCOME FOR INTENDED AUDIENCE
................................................................................................................................................. 18
CONCLUSION AND RECOMMENDATIONS....................................................................................19
REFERENCES.................................................................................................................................20
APPENDIXES................................................................................................................................. 23
RESEARCH PROPOSAL.............................................................................................................. 23
INTRODUCTION/BACKGROUND TO THE RESEARCH.............................................................23
RESEARCH QUESTION (S)/HYPOTHESIS................................................................................24
RESEARCH AIM AND OBJECTIVES.........................................................................................24
LITERATURE REVIEW............................................................................................................25
RESEARCH METHODOLOGY................................................................................................. 26
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ANTICIPATED OUTCOME......................................................................................................26
GANTT CHART...................................................................................................................... 27
REFLECTIVE STATEMENT..........................................................................................................28
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INTRODUCTION/BACKGROUND TO THE RESEARCH
In today’s world, each and every organization is well aware of the concept of globalisation. This
is the term which has changed the way of doing business by various organizations. The common
aim of the organization is to cater to customer’s need and achieve revenue and sales for its
success and survival. Globalisation provides opportunities for business organizations to achieve
their desired goal (Fukugawa, 2013).
Globalisation allows the organization to enter and operate in the international market and
conduct the activities including transaction of good, services, and resources across the border.
The development of the business activities coincides with the widespread phenomenon of the
globalisation of the market (Aggarwal, 2011). Any organization focuses on entering the
international market, not because of the limitation of the domestic market but also due to the
globalisation concept. As foreign companies enter the domestic market, it creates a threatening
situation for business organizations.
Also, the companies are forced by various factors such as the process of globalisation, need to
preserve as well as enhance its market position, constant pressure, and fight to survive (Lee et
al., 2012). These factors inspired the organizations to consistently innovate as well as explore
the opportunities in order to achieve competitive advantage and also expand the business
activities outside the domestic market. Globalisation is promoted by various factors such as
political changes, international business climate, technology development, market
development and so on (Ashourizadeh et al., 2014). These factors guide organizations to strive
from business development and success.
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RESEARCH QUESTION (S)/HYPOTHESIS
1. What are the impacts of globalization on business activities?
2. How do the factors of globalisation affect the business performance of the
organizations?
3. How is the success of business driven by globalization?
RESEARCH AIM AND OBJECTIVES
The aim of the research is to identify the way in which globalization drives the success of the
business. The objectives are:
1. To identify the role of globalization in the business performance
2. To ascertain the ways through which globalisation drives the success of the business
3. To develop strategies on the use of globalization factors to ensure business success
LIMITATION OF THE STUDY
This research has certain limitations related to time, resources and scope. The scope of the
study was limited as 50 participants were selected on the basis of the random sampling
method. Selection of no specific geographical location affected the research scope (Kapoor,
2011). Another major limitation that affected the research is the unwillingness of the
participants to take the questionnaire survey. This resulted in the challenge to meet the desired
sample size with the specified time limit.
The study was also affected by the limited availability of relevant secondary data as the
information and data were not shared by the majority of firms. The reliability and accuracy of
the research could not be ensured due to constant changes in the views and insights of the
participants towards globalisation (Alimi and Atanda, 2011). The time and budget estimated for
the research was limited and constrained the researcher to use cost-effective data collection
and analysis tool to perform the research.
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LITERATURE REVIEW
Globalization allows businesses to increase their trade of goods and services across borders.
Globalization positively affects the business and also improves the economy of the country. It
helps in effective allocation of the resources. The organization nowadays caters to customers in
more than one market so that the economic downturn of any country does not affect its
business and operations (Nikolova et al., 2017). This helps in increasing its revenue and income.
Multinational enterprises are those that are active in international business. These enterprises
own substantial resources thereby perform different activities of business through their
channel of branches which are located in different countries based on the different
characteristics of the market (Ristovska and Ristovska, 2014). The organizations that aim to be
multinational considering their operations need such as the provision of material, equipment,
technology and surplus production release; strategic needs such as ensure steady growth and
better profitability and the inviolability of future changes in external environment.
Future challenges are proactively predicted by the companies in order to be able to face the
changes and gain competitive advantage. More opportunities and threats are created by the
globalisation of the world economy for both existing as well as potential participants in the
industry (Martinovic, 2011). The dramatic turnaround is made by the companies in their
strategic directions in order to improve their performance for not just to be competitive but
also to survive. There are various factors that impact the development of organizations.
New product and services must be based through a good business idea, along with continued
association with scientific as well as research institutions, cluster association, modern
technology and knowledge application (Lussier and Halabi, 2010). Thus from the literature
review, it can be summarised that the success of business in today's time is highly dependent
on the driving factors of the globalisation.
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RESEARCH METHODOLOGY
Qualitative research was used to determine the views and insights of the participants towards
globalisation in driving business success. Also, quantitative research was used to count the
views and insights of participants in numerical form (McCusker and Gunaydin, 2015). This
helped in easily interpreting the outcome to meet the aims and objectives of the research.
Secondary research was conducted to collect background information using different secondary
materials such as magazines, articles, peer-reviewed researches, and online applications.
Primary research was conducted by carrying out a questionnaire survey among a focused group
of 50 individuals to collect the data and reach to research conclusion (Kumar, 2019). These
individuals were randomly selected. Ms-Excel includes tables and charts are used to analyse the
data collected from the questionnaire survey. This will help in achieving a reliable outcome of
the research.
COSTS OF THE UNDERTAKING THE PROJECT
Estimated budget was prepared by including all the expected costs and expenses required to
carry out the research effectively. This estimated budget was compared with actual costs and
expenses incurred using earned value management technique.
Particulars Predicted costs (in £) Actual costs (in £)
Salaries to assistant members £110 £121
Refreshments for assistant members £75 £82
Travel and maintenance £80 £95
Stationery resources and materials £45 £53
General research materials £25 £34
Hardware, IT networks and software £175 £194
Vouchers to respondents £50 £100
Other administrative costs £40 £41
Total £600 £720
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ACCESS TO DATA
The data and information collected in this research are very crucial for the research. It is
essential to maintain privacy and confidentiality for the data collected for the research (Kumar,
2019). Accessibility to data remains with the researcher and project supervisor and academic
tutor. The data collected in this research will not be used for a commercial purpose; it was
specifically for academic use only.
ETHICAL ISSUES
Ethical issues are addressed and considered in each activity of the research that comprises
human interactions. Ethical dilemma that may be faced by the researcher during the research
needs to be settled and discussed prior to conducting the study. Rights and obligation are to be
maintained towards the participants in order to achieve their informed consent to be part of
the research. Participants were given rights of their privacy, to be truthful along with the right
to be informed and protected from any kind of harm during the research (Miller et al., 2012). It
is expected for participants to be truthful and honest with their responses. Also, they are
designated with the right to terminate the session at any given point of time according to their
comfortability and willingness. At last the participants have the right to be informed about the
details of the research.
QUESTIONNAIRE
1. What is your current designation in your organization?
a) Owner
b) General Manager
c) HR manager
d) Others (Please specify)
2. Does your company operate in more than 1 country?
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a) Yes
b) No
3. Do you believe that the success of your company depends on globalisation?
a) Yes
b) No
4. To what extent do you agree that globalisation provides an opportunity for your
business to create awareness in the market and generate higher revenues?
a) Highly agree
b) Agree
c) Neutral
d) Disagree
e) Highly disagree
5. To what extent do you that globalisation ensure access to highly skilled and potential
employees for improvement in business performance?
a) Highly agree
b) Agree
c) Neutral
d) Disagree
e) Highly disagree
6. To what extent do you agree that globalisation results in exposure to investment
opportunities to generate funds for your business?
a) Highly agree
b) Agree
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c) Neutral
d) Disagree
e) Highly disagree
7. To what extent do you agree that globalisation ensures technology development to
enhance your business performance?
a) Highly agree
b) Agree
c) Neutral
d) Disagree
e) Highly disagree
8. To what extent do you agree that globalisation plays a crucial role in improving the
reputation of your business and achieve business success?
a) Highly agree
b) Agree
c) Neutral
d) Disagree
e) Highly disagree
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DATA ANALYSIS
Questionnaires were distributed among the participants to collect the views of the participants
regarding globalisation that drives business success. The collected data is analysed and present
in the forms of tables and charts below:
Question 1
Owner 5
General Manager 19
HR manager 11
Others (Please specify) 15
Total 50
10%
38%
22%
30%
What is your current designation in your
organization?
Owner
General Manager
HR manager
Others (Please specify)
This question was asked to identify the designation of the participants who took the
questionnaire survey. Majority of the participants in this research were general manager
followed by other positions in an organization such as executives. Only 5 owners are observed
to participate in research.
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Question 2
Yes 29
No 21
Total 50
58%
42%
Does your company operate in more than 1
country?
Yes
No
This question was asked to identify the participants who work organization is present in more
than 1 country. There was 58 per cent of the individuals who are part of organizations that
work in over 1 country.
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