Analyzing Globalization's Influence on Mark and Spencer's Growth

Desklib provides past papers and solved assignments. This project analyzes globalization's impact on business success.

Research project
Theme: Globalisation can drive business success.
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Contents
Introduction/ Background of the research..................................................................................3
Research questions –..................................................................................................................3
Research Aim and objectives.....................................................................................................3
Limitation of the study –............................................................................................................4
Literature Review –....................................................................................................................4
Changes in global markets.....................................................................................................4
Impact of globalization on the growth and success of Mark and Spencer.............................5
Ways that help the company to overcome with changes in global markets...........................5
Research methodology...............................................................................................................5
Data analysis..............................................................................................................................6
Research Findings......................................................................................................................7
Conclusion and recommendations...........................................................................................11
References................................................................................................................................13
Appendix..................................................................................................................................15
Research proposal................................................................................................................15
Reflective statement.............................................................................................................18
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Introduction/ Background of the research
Globalization is a force which has shaped the contemporary world by affecting business
practices and operations. Buyers, suppliers and corporations are associated with information,
material and capital flow because the manufacturing process becomes progressively dispersed
over the globe. It provides an opportunity for businesses to establish their business emerging
markets and gain a high competitive edge (Kumar, 2019). The major benefit of globalization
is it enhances competition of company with foreign brands; it allows management to
improvise their standards, customers’ services and customer satisfaction. Hence, all these
aspects highly contribute to business growth and success in the required manner. This
research project is based upon Mark and Spencer as it is one of the largest retailing company
in the United Kingdom which mainly deals in clothing and luxury home products. The prime
objective of the organisation is to offer quality products or services to customers’ and
increase the client base at the same time. For accomplishing this objective, Mark and Spencer
are tending to enter into global markets.
In addition to this, the research study will involve certain objectives which would be
supportive to develop effective literature on the given problem. Primary and secondary
sources of data collection will use so as to gather relevant information and data which assists
the researcher to arrive at desired outcomes. Furthermore, on the basis of findings, data will
be analysed and interpreted then accordingly recommendations will be provided.
Research questions –
Q1. What are the changes occur in global markets?
Q2. What is the impact of globalization on growth and success of M&S?
Q3. What are the ways by which companies can overcome with global market changes?
Research Aim and objectives
Research aim – To ascertain the impact of globalization on driving growth and success of a
business organization: a case study on Mark and Spencer.
Research objectives
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 To study the changes in global markets.
 To determine the impact of globalization on the growth and success of Mark and
Spencer.
 To ascertain the ways that helps the company to overcome with changes in global
markets.
Limitation of the study –
As the study is based upon globalization as it carries out some limitations, such as –
 This study is based upon assumptions or views and real facts are missing which may
affect the quality of the research.
 While doing this study, the researcher didn’t have sufficient amount of money and
lack of resources; it leads he cannot spend much time and money in all activities or
tasks.
 Some legal constraints and laws affect the data collection process as it requires
permission of higher authorities and further government panels.
 Due to lack of time, the researcher cannot collect effective books and journals for this
study.
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Literature Review
Changes in global markets
Tuohy, et. al., (2013) stated that due to the nature of globalization several changes have
occurred in the corporate world in which some are beneficial for companies and some are not.
It has been overviewing since long that globalization has strengthened the UK's economy
after Brexit as it allows businesses in the nation to explore areas in other countries. Because,
after Brexit corporation over there had no option of trading in Europe; thus globalization
support companies to expand their business areas emerging markets as well as enhances sales
and profitability in a certain time period. Another change in global markets is a rise in
technology which exploits new opportunities for a company in terms of innovation, for
example – rising in the usage of E-commerce tools or procedures contribute in improving
quality of products or services. Technology plays a vital role in smoothening business
operations and practices. Furthermore, changes in the economic condition of the country also
affect business processes, likewise, economic upturns assist in raising the purchasing power
of customers; it leads in increasing sales and profitability of Mark and Spencer in global
markets.
Impact of globalization on the growth and success of Mark and Spencer
Due to changing customers’ needs in global markets, it becomes critical for corporations to
satisfy customers' needs or wants in the required manner. Hence, to meet changing customers'
needs there is required to conduct market research and make proper communication with
target audiences. Changes in the global business environment affect business operations in a
direct and indirect manner which allows companies to grab better future opportunities and at
the same time, it also affects the firm's sales and profitability. According to Tlaiss, (2015)
globalization allows a business to access new markets and gaining cost advantages in the
required manner. It is has overviewed that developing countries provide more profitability
and revenues to a business instead of existing markets as there is less competition as it is
easier to attain customers.
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Ways that help the company to overcome with changes in global markets.
One of the best ways to overcome changes in global markets is the formulation of effective
strategies or policies based upon gaining a high competitive edge. Before developing any
strategy, market environment analysis should be done in a proper manner which allows the
company to understand current market trends and customers’ needs (Albort-Morant and
Ribeiro-Soriano, 2016). Furthermore, merger and acquisitions are the best way to deal with
changes in global markets as it expands business areas and boosts up their capabilities as
well.
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Research methodology
In the research process, research methodology is a mean of collecting and analysing data or
information. Hence, it is required to select appropriate research methods so as to gain relevant
data or information; research methodology provides an enhancement to perception.
Types of investigation – There are two types of research methods, such as – qualitative and
quantitative; in which qualitative research is acquired to examine the meaning which
individuals carries out to their behaviour, actions and interactions with others. On the other
hand, quantitative research methods focus on objective measurements as well as numerical
analysis of gather data or information (Akpor-Robaro and Oghenerobaro, 2012). For
completion of this research, the researcher has acquired qualitative research methods as in the
data is collected from the questionnaire method in order to observe the behaviour of others.
Sources of data collection – After deciding research methods, the researcher acquires data
collection sources; there are two types of data collection sources, such as – primary and
secondary. In which primary data is the first-hand information gathered by the researcher
himself for a specific purpose. On the other hand, secondary data is the information is the
data which is already collected by the researcher but also can be useful for existing study as
its facts can help to reach desired outcomes. For completion of this project, the researcher has
used primary and secondary both sources; in which the questionnaire method is the primary
source whereas the literature review is the secondary form of data collection.
Sampling – It is a process of selecting a part from the given population; the researcher has
acquired random sampling method (Fernando, 2012). In this research, the selected sample
size is 50 individuals these are regular customers' of the company as well as having a similar
area of interest.
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Data analysis
In this research, project data is gathered from the questionnaire method which also helps the
researcher to get relevant information.
Questionnaire
Q1. Are you aware of the concept of globalization?
A. Yes
B. No
Q2. What are the main benefits a company will gain in global markets?
A. Leads to interdependence
B. Increase awareness among customers
C. Reduce the monopoly of companies
Q3. What would be the major drawbacks of globalization for Mark and Spencer?
A. Threats to global commons
B. Trade imbalances
C. Economic Downturns
Q4. What are the ways which will support the company to get rid out from these drawbacks?
A. Formulation of effective decisions
B. Provide training to employees
C. Technical implementation
Q5. Give recommendations if any.
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Research Findings
Theme 1: Concept of globalisation
Q1. Are you aware of the concept of
globalization?
A. Yes 40
B. No 10
A. Yes B. No
0
5
10
15
20
25
30
35
40
40
10
Series1
Interpretation – The above graphical presentation stated that globalization is a process of
integration of two economics and it facilitates sales. There is over 40 people are aware of the
concept of globalization whereas 10 people are totally denied with that concept.
Theme 2: Benefits of globalization
Q2. What are the main benefits a company
will gain in global markets?
A. Leads to interdependence 25
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B. Increase awareness among customers 15
C. Reduce the monopoly of companies 10
A. Leads to
interdependence B. Increase
awareness among
customers
C. Reduce the
monopoly of
companies
0
5
10
15
20
25
25
15
10
Series1
Interpretation – With the viewpoint of 25 respondents, it has stated that globalization is
highly beneficial for corporations as it leads interdependency of businesses with each other;
thus they could face any challenge in an effective manner. On the other hand, 15 people think
that it raises awareness among customers towards products or services offered to them and
the remaining 10 stated that it reduces monopoly of competitors and attain a wide range of
target audiences.
Theme 3: Drawbacks of globalization
Q3. What would be the major drawbacks of
globalization for Mark and Spencer?
Frequency
A. Threats to global commons 10
B. Trade imbalances 20
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C. Economic Downturns 20
A. Threats to global
commons B. Trade imbalances C. Economic
Downturns
0
2
4
6
8
10
12
14
16
18
20
10
20 20
Series1
Interpretation – From this graphical presentation, it has analysed that 20 respondents are
saying that economic downturns are one of the biggest challenges of globalization. Beside
this, other 20 thinks that trade imbalances are also another challenge of global markets and 10
thinks that there is a threat of global commons.
Theme 4: Ways to overcome from challenges of global markets
Q4. What are the ways which will support
the company to get rid out from these
drawbacks?
Frequency
A. Formulation of effective decisions 15
B. Provide training to employees 20
C. Technical implementation 15
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A. Formulation of
effective decisions B. Provide training
to employees C. Technical
implementation
0
2
4
6
8
10
12
14
16
18
20
15
20
15 Series1
Interpretation – This graph represents that 15 respondents are saying firm should formulate
effective decisions and policies, 20 stated that there is need to provide training &
development assistance to employees and remaining 15 thinks that technical implementations
could assist companies to overcome from drawbacks of global markets.
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