Business Success Driven by Globalization: A Research Project

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

Research project
How globalisations drive the business
success?

TABLE OF CONTENTS
Introduction................................................................................................................................1
Research topic........................................................................................................................1
Research aims and objectives.................................................................................................2
Rationale................................................................................................................................2
Research questions.................................................................................................................3
Literature review........................................................................................................................3
Research methodology...............................................................................................................6
Introduction............................................................................................................................6
Research philosophy..............................................................................................................6
Research approaches..............................................................................................................7
Evaluation of qualitative and quantitative methods...............................................................7
Use of primary and secondary source....................................................................................8
Sampling method...................................................................................................................9
Questionnaire.........................................................................................................................9
Timeline...............................................................................................................................11
Data analysis and interpretations.............................................................................................11
Research outcome....................................................................................................................17
Conclusion and recommendations...........................................................................................18
Reflection and recommendation for alternative research methodology...................................20
References................................................................................................................................21

Introduction
Globalisation is a major concept that offers high advantages to the business organisations in
attaining their goals and objectives. The success of every organisation primarily depends on
the customer base and profitability. Products and services are developed by organisations to
ensure customer satisfaction and increased sales. Also, it improves business functioning
results in the enhancement of economies of scale, which requires the understanding of
globalisation. Operating business in the local market has major constraints of the market,
regional area, supply chain, distribution, customers, innovation, technology access, personnel
recruitment, etc (Cavusgil et al., 2014). Hence, to grow at a wide scale, globalisation process
supports the business organisations to identify new business dynamics for growth and
success. Globalisation enables the organisations to enhance the business value with effective
access to personnel and technologies at cheaper rates.
Research topic
The present research project focuses on the contribution of globalisation behind the success
of businesses. Globalisation is a term which helps to integrate and transfer the people,
technologies, ideas, and goods across the world. Hence, it supports the integration and
interaction of government, economics, and the world’s cultures (Waddell, 2017).
Globalisation is a process that supports business in expanding their business throughout the
world with the easy access of technologies, personnel and other resources at affordable rates.
Globalisation is based on the pillars of effective transportation, technologies, and
communication that enhance the organisational capability in improving its economies of scale
in the overseas market. However, the successful establishment of business and operational
support requires analysis of global business environment so that a better understanding of
business activities can be gained. Improved transportation and infrastructural facilities within
different countries has made the cost-efficient approach of moving from one place to another
(Savrul et al., 2014). In addition, effective communication channels integrated with
technologies, like, social media, emails, etc. has improved the connectivity within the global
business environment and supported in effective execution of operations.
Globalisation has to lead the increased interaction among different countries through
improved transportation, communication, and free flow of trade. Hence, to regulate the
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organisational activities, across the globe, there are various regulatory frameworks, laws,
cultures, and policies are developed.
Research aims and objectives
Aims
The aim of the present research is to identify the role of globalisation in making the business
successful. The research has determined various factors that support the organisation in
positioning its brand and making it recognisable with the globalisation approach and making
it recognisable (Zajda, 2015).
Objectives
 To accomplish the complex aim of the research project, it is fragmented into
objectives, as are:
 To understand the key concept of globalisation for UK organisations so that their
efficiency can be improved in terms of customer base, productivity and profitability.
 To analyse the benefits of globalisation in terms of cost and time optimisation for the
business organisations
 To understand the positive impact of globalisation on business success in terms of
brand recognition, and value enhancement
 To analyse the major issues and challenges prevail in the global market that hinders
the success of business organisations.
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Rationale
The research project is based on the topic ‘how globalisation can drive business success?’
which I have selected due to its high significance for the business organisations in terms of
economies of scale, and customer base in the overseas market. I have conducted the research
on international trading, technologies, and other relevant aspects that are connected with the
globalisation to provide competitive position to the organisation (Janks, 2014). Evidenced
with the newspapers, articles, internet, and social media, every organisation desires to get the
advantage of foreign trading, and foreign investment which is driven by the globalisation.
The continuous learning practice has encouraged me to explore the key aspects of
globalisation for business success. The outcome of prior studies has helped me to identify the
interlink among different sections of the research.
I have completed the research project with the application of various approaches and tools to
get a positive and reliable outcome. I have collected the information regarding globalisation
from various sources, like, books, magazines, articles, etc. to well acquaint with the concept
with reference to organisational success and development (Telò, 2016).
Research questions
 How globalisations offer competitive advantages to businesses across the globe?
 What are the risks and challenges associated with the globalisation that may hinder
the growth and success of the business?
 How issues and challenges can be dealt to get the positive result of globalisation?
 How globalisation support in optimising cost, business opportunities?
 What are the major benefits that globalisation offers to the organisation in terms of a
free flow of trade, people, technology, and capital?
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Literature review
Sustainable business and competitive position is the aspiration of every business
organisations, and hence, globalisation highly contributes to this context. As per Lewis and
Lingard (2015), n the modern economy, globalisation is a term that makes the entire economy
of the world as a single concept. Different organisations perform their business activities in
the globalised environment and deal with various products and services that may be similar in
nature. Hence, globalisation helps to interconnect the different organisations so that they can
improve their functional areas and identify the scope of brand positioning and business
expansion. Globalisation acts as the foundation for international trading on the basis of which
a positive relationship is developed among the organisations across the globe that supports in
the market expansion, share and improved customer base. According to Jha and Krishna
(2013) ,Social and cultural aspects in the global environment are the major areas of
consideration as globalisation enhances the cultural diversity, sharing of knowledge, and
people engagement across the globe to make the world economy a better place to trade and
transactions.
Globalisation has opened up new dimensions that help to improve the current potential and
capability of organisations and make it possible to reach a large number of people with their
products and services in the global market. The Shenkar.et.al (2014) has opined that the
impact of globalisation can be seen in the form of increasing foreign direct investments that
not only support business expansion and overseas joint ventures but also support the
government in improving their economies better. Globalisation has provided wide access and
flexibility to the business organisations so that it can reach to the global emerging markets
and the areas that are still untapped by other businesses. Such flexibility helps to develop the
market and enhances the possibility of improved customer base, revenue, and growth. Sales
and customer base within the national borders face many limitations, and therefore the
international boundaries remove such limitations and encourage business organisations to
establish its presence in the overseas market.
According to the opinion of Siddiqui (2014), the improved global economy is the reason for
continuous advancement in the technology, transportation, and communication channels.
Globalisation has made the trade easier along with the free flow of goods and services across
the world. Hence, organisations that are facing issues regarding high technological costs can
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take advantage of globalisation and get access to advanced technologies from other countries.
The labour cost can also be optimised by accessing the labour from the countries where it is
available at cheap rates. Hence, along with the optimised cost of labour skilled and
experienced personnel can also get through a globalised business environment. However, to
get skilled and talented personnel is difficult at affordable rates as they prefer to go to those
countries where higher benefits are provided.
As per Rausch et al. (2013), the business success via globalisation also depends upon the off-
shoring, and outsourcing. Businesses can avail the services of outsourcing from overseas
areas where it is available at cheaper rates. Outsourcing supports the organisation to get the
work done with skilled and capable people in consideration of cost and time limitations. Also,
the issues of depending upon full-time employees can also be removed with the global
outsourcing services. Globalisation has also supported the off shoring facilities to the
organisation in which they can produce their products and services in those countries where
suppliers are highly negotiable and raw material is easily available at reasonable rates. In the
opinion of Kuruvilla and Ranganathan (2010), it also helps to improve the productivity and
capability of the organisations. However, there is some confidentiality issues associated with
outsourcing and off shoring.
Business success is dependable for transportation and communication. For example,
marketing advertisements, campaigns, and many more promotional tactics to influence global
customers requires an appropriate and strong communication channel for the organisations.
Communication is also needed to standardise the internal business structure so that it can
effectively be managed and improved in the global economic conditions. As per Ortiz (2004),
Transportation plays an important role in moving people, and goods from one country to
another. Hence, the organisational requirements can be fulfilled with effective transportation
in terms of selling and purchasing goods and services from overseas dealers.
According to Kolk and Van Tulder (2010), along with the advantages of globalisation, there
are many issues and barriers associated. For example, the business organisations that deal
within the limited area of the domestic market has a better understanding of the market
demands, customer preference, and market volatility. However such understanding cannot be
established in relation to the global market. International trading depends upon various
factors that are beyond the scope of domestic markets. Hence, without any market
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understanding, sustainability and market share cannot be attained in the overseas market. In
the opinion of Alexander and Warwick (2007), globalisation has supported every
organisation to improve their efficiencies to match the standard of international trade.
However, it has lead to intense competition in the global industries that put pressure on
smaller organisations to standardise their products, services, procedures, systems, and many
more to beat the overseas competition. Also, the market trends in the overseas market are
different from the domestic market that is required to be considered before making any
investment strategies.
The political and economic conditions vary across the world and hence changing in any of
the factors affecting the global business units of the organisations. Hurn (2007), opined that
Legal regulations in different countries are the major barrier that even may disrupt the
business operations of organisations. For example, there are various restrictive and permitted
policies and laws for different industries in the global market, and hence, compliance of
various laws and regulatory provisions are lengthy and difficult part of globalised business.
Regulatory provisions also require business organisations to show their concern and
responsibility towards society, culture, and environment.
Globalisation provides the foundation for business success; however, appropriate market
research and consideration of various factors is the basic component for business
organisations before moving towards global business. The financial and non-financial
implications are necessary to consider improving the business position and potential of the
organisation for international trade. As per O'Neill (1997), Lagging behind in any of the
aspects may lead the business-heavy losses and even affect its business position in the
domestic market along with the foreign market. The business organisations have to consider
and improve the quality of products along with the consideration of customer needs,
demands, market trends, cultural aspects, and the probability of business failure in the foreign
market. Therefore, business expansion or diversification requires appropriate strategies and
tools to be developed by organisations so that improvement in capabilities can support
sustainable business growth and competitive position in the global environment.
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Research methodology
Introduction
Research methodology can be defined as the technique of systematic data collection, analysis
and interpretation to formulate the decisions on a topic. Several research methodologies can
be used to achieve effective outcomes within time and cost. For example, the researcher can
use the research methodologies to explore the background and analytical details about the
subject. The presented research subject is ‘How globalisation can drive the business success’,
and research methodologies are useful to understand the potential identification of the factors
and their influence (Kumar, 2019). However, the research methodology has several elements
to determine the required information. For example, research approaches, evaluation
techniques, philosophies, and sampling techniques and methods are part of the research
methodologies to achieve the core goals and objectives.
Research philosophy
The core purpose behind the understanding and implementation of the research philosophy is
to determine the research directions and scope. It has the main focus on the studies on the
numbers and factual data. For example, it can support the research with the identification of
the factors behind the success of the organisation in the age of the globalisation. Therefore,
research philosophy deals with nature, source and development of knowledge. Simply, it is an
approach through which data can be collected for phenomena (Silverman, 2016). From the
point of the current research project, positivism philosophy is used. This type of research
philosophy focuses on the identification of the positive facts and influxes besides of the other
facts. Also, interpretative research has values to understand the positive as well as negative
aspects of the globalisation to determine the scope of business success. The realism research
philosophy uses practical contexts and examples to support the arguments and decision
making in the research work (Flick, 2015). However, pragmatic approach has a realistic
implementation of the theoretical frameworks and facts to accomplish objectives.
Research approaches
The presented research has the use of two approaches: inductive and deductive research
approach to achieve the desired outcome. The inductive approach has no focus on the
formulation of the hypothesis and so that it has elements such as aims and objectives to
structuralise the research work. The deductive approach has use of the assumptions that are
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later verified and validated to ensure accuracy and reliability. The research has used both
methods wherever required. Besides it, qualitative and quantitative research methods are used
to achieve effective results to understand the influence of the globalisation on business
success (Brannen, 2017). The qualitative research approach has use of the theoretical data to
formulate the outcomes and ensure their interrelationship to process the goals whereas
quantitative research approach has use of the factual information from the participants to
generate the accurate and reliable data from the present contexts.
Evaluation of qualitative and quantitative methods
The efficiency of the outcomes to support the business operations and strategic planning has
power from the selection of the research methods and approaches. The selection of a suitable
method is required to manage the time and cost also. For example, the research can be
completed through two major methods: qualitative and quantitative methods. During the
qualitative research method, data can be collected from the books, magazine, websites and
articles that are reputed and well-known for the accuracy and reliability (Davies and Hughes,
2014). Theoretical and conceptual data can be collected and analysed to meet the research
goals and objectives. However, the accuracy of the source is required to validate against the
other sources whereas the approach saves time and cost to accomplish the research.
Statistical and factual information can be collected from the sources during primary and
quantitative research methods. The interventions of the research are analysed to understand
the data and its usability to support decision making. Quantitative research methods are
interview, questionnaire, survey, and polls whereas each has support to research through
consistency, precision and generalisation of the data (Brannen, 2017). However, there is less
focus on the measurement of accuracy during participation and responsiveness. The
participants might provide incorrect data and opinions, and the overall data collection process
is complex and time-consuming.
The core purpose of the quantitative research method is to compare, interpret, and contrast
the various patterns in the information. For example, the interview method can be used to
discuss the issues and challenges, but the accuracy has a dependency on the communication
and understanding of the participants for the subject (Morgan, 2013). Also, open-ended
questions are complex to analyse. The quantitative research methods are time-consuming and
required expertise to collect the narrowed and specific information from the participants.
However, the overall data analysis process is simple and effective.
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Use of primary and secondary source
The research has the use of primary and secondary sources to collect accurate and reliable
data. Data collection process focuses on the synthesis of the data from the large volume and
supports the decision making related to the research goals and objectives. The research has a
collection of the primary or quantitative data through the questionnaire which can be
distributed to the resources through online and direct distribution channels. Within a
timeframe, the responses can be collected and analysed through data interpretation
applications (Kumar, 2019). Interview and survey are other approaches for the quantitative
data collection. However, the use of the secondary data through literature review and
observation has values to reduce the time and cost requirements in the research. It is easy and
effective, but validation and verification of the information are required through arguments
and logical reasoning. Also, the availability of the needed sources influences quality.
Primary Data Collection
The questionnaire is used to collect the primary data. The employees of the various
organisations are engaged in the questionnaire to collect statistical and factual results. Most
of the questions are close-ended to ensure that technical, as well as non-technical staff, also
can participate effectively.
Secondary Data Collection
A literature review is used to analyse the secondary data, and for that, books, articles, online
libraries and magazines are used. The sources are validated and verified through cross-
referencing and arguments whereas synthesised data is used from the only well-known
sources to manage the quality.
Sampling method
Sampling is the selection of the participants for the research work so that the outcomes can be
mapped easily on a large number of people. The research has the use of sampling techniques
to support the questionnaire method for data collection. However, rather than to select a
simple random sampling, the research has used equal probability sampling techniques.
Following are two major sampling methods considered in research:
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Probability Sampling: The research provides equal opportunity to all participants and so that
it uses education, experience, gender and other factors to categories the participants. The
stratified sampling method is preferred in the research in which the large population is
divided into smaller groups to contain most of the characteristics of the populations.
Non-probability sampling:
It does not provide an equal chance to get selected in the sample, but it is also required to
improve the performance of the sampling size. It is used to select some experience and skilled
employees to balance the results and align the outcomes to the goals (Acharya et al., 2013).
The questionnaire is distributed to 40 respondents through emails, and it is expected that all
the participants have enough time and skills to complete answer the questions.
Questionnaire
1. What is the potential nature of the expansion into several countries while globalization is
empowering international trading flexibilities?
a) Positive
b) Negative
2. What do you think how globalization has impacted operation cost while business has
presence in multiple countries?
a) Cost optimization
b) Cost decrease
c) Saturation
d) Unaware
3. How global competition is driving the business for complexities and challenges under the
term of globalization?
a) Target market
b) Technological adaption
c) Cost of products and services
d) Response from the customer
4. Can business lead the expansion with similar business structure and processes to achieve
profitability while currently it is operating in domestic market?
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