Globalization's Impact on UK Fashion Business: A John Lewis Study

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This report investigates the role of globalization in improving the business performance of the UK fashion industry, focusing on John Lewis Plc as a case study. It begins by defining globalization and its benefits, such as economic growth, access to new markets, and reduced costs. The research rationale highlights the importance of this study for various stakeholders, including researchers, students, and John Lewis Plc. The report outlines research objectives, including understanding globalization in the UK fashion context, determining its impact on business performance, and identifying effective strategies for John Lewis Plc to improve its international performance. The literature review explores the conceptual framework of globalization, its impact on the UK fashion industry, and effective strategies for improving business performance. Ethical considerations and limitations, such as data accuracy and time management, are also discussed, providing a comprehensive overview of the research.
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TO IDENTIFY THE ROLE OF GLOBALISATION IN
IMPROVING BUSINESS PERFORMANCE OF UK
FASHION INDUSTRY AT INTERNATIONAL LEVEL
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Table of Contents
SECTION 1......................................................................................................................................3
Introduction......................................................................................................................................3
Research Rationale...........................................................................................................................3
Background of the Research............................................................................................................4
Research Aim...................................................................................................................................4
Research Objectives.........................................................................................................................4
Research Questions..........................................................................................................................4
SECTION 2......................................................................................................................................6
Summary of literature landscape.....................................................................................................6
Critical Evaluation of the Research Interest....................................................................................8
Ethical Consideration.............................................................................................................8
Limitations..............................................................................................................................8
REFERENCES................................................................................................................................9
APPENDIX....................................................................................................................................10
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SECTION 1
Introduction
Globalisation is the process used by an organisation for expanding their business at global
level. It is defined as the set of processes including cultural, social, institutional, technological
and economic (Ahmed and et. al., 2019). All these contribute to the relationship between
societies and people around the globe. There are various benefits of globalisation for an
organisation such as economic growth, increased global cooperation, access to new culture,
lower cost of product, access to new talent and many others. These are main benefits that an
organisation would be gained while using the concept of globalisation (Arif and et. al., 2020).
The purpose of globalisation is to develop people of the world by free flowing goods,
information, services, people and knowledge across all boundaries. Through globalisation,
company can identify the lowest way through which they can produce the products and services.
It helps in increasing the global competition which reduces the price and offers wide variety of
choices to consumers. Globalisation helps in providing access to new cultures, lowering cost of
products, access of new market, access of new talent and also spreads technology and
innovation. Thus, globalisation brings positive as well as negative effect in countries. The
positive effect of globalisation is that it helps in bringing education, technology, trade,
investments, competition, employment, capital flows, culture and organisation structure. The
negative effect of globalisation is increased cross border investment, environmental concerns,
disproportionate growth and many others. Thus, it is important for fashion industry to focus on
understanding the positive as well as negative impact of expanding business at international level
so that business can be run in effective and efficient manner.
Research Rationale
The rationale behind doing this research is to identifying the role of globalisation in
improving business performance of UK fashion industry at international level. This research is
important for different stakeholders that are John Lewis Plc, researcher and students (Dodd,
2018). For the researcher, this research helps them by improving their different types of research
skills such as data collection, time management, decision making and many more. For students,
this research is beneficial for them by improving their knowledge regarding the role of
globalisation in improving business performance of UK fashion industry at international level
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(Valdez-Juárez and Castillo-Vergara, 2020). For John Lewis Plc, this research is essential for
them by enhancing their business performance by providing accurate information regarding the
effectiveness of globalisation.
Background of the Research
Within this research, John Lewis Plc is a chosen British company that was founded by John
Spedan Lewis. Company is specialising in producing clothing, watches & jewellery and many
others. The organisation is headquartered in Westminster, London, England, UK. The purpose of
the company is to attain competitive advantages by providing quality in the product and services
(Siagian, Jade and Tarigan, 2020). The vision of John Lewis is to fulfil the needs and
requirements of families by offering them wide variety of products and services under one roof
and online. John Lewis is one of the leading retailers that include the chain of departments, shops
and supermarkets. The target market of company is upper and middle class people of age 30-40
who spend their money for fulfilling the needs and requirements of family. The main aim and
objective of John Lewis is to bring positive change, build more sustainable future and improve
the lives of people. They generally promote the brand by using new age promotional tools which
helps in increasing the profitability and growth of business. The company focus on using join
promotion with other products or service. Organisational structure of John Lewis is unusual
which includes employee councils, profit sharing schemes and independent press.
Research Aim
To determine the role of globalisation in improving business performance of UK fashion
industry at international level: A study on John Lewis Plc
Research Objectives
To develop basic understanding about the globalisation in context with UK fashion industry
To determine the impact of globalisation on business performance of UK fashion industry at
international level
To identify the strategies that would be used by John Lewis Plc for improving their business
performance at international level
Research Questions
What is the conceptual framework of globalisation in context with UK fashion industry?
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How globalisation has impacted on business performance of UK fashion industry at
international level?
What are the effective the strategies that would be used by John Lewis Plc for improving their
business performance at international level?
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SECTION 2
Summary of literature landscape
Literature review is the written document that helps in providing detailed knowledge and
understanding of the particular topic. It is generally conducted for collecting the information on
specific field and also brings clarity and focus to research problem.
What is the conceptual framework of globalisation in context with UK fashion industry?
As per the opinion of Ayertey and Ozuem (2018), globalisation is an activity of
increasing interconnectedness of countries which results in cultural exchange and increased in
trade. It helps in defining how trade and technology has made the world more connected and
interdependent to each other. The main motive of globalisation is to secure the socio-economic
integration and develop the people across the world by free flowing of goods, services,
technology, information and people. Company can gain benefit through globalisation as it helps
in lowering the cost of producing the products which helps in attracting more and more people
towards the brand.
Figure 1:( Conceptual Framework of Globalisation, 2020)
The above framework depicts that while expanding the business at global level, it is
important for an organisation to consider few factors that can influence the business performance
and productivity such as firm specific factors, country specific factors and market specific
factors. Thus, it is important to understand these factors in order to run the business at
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international market with efficient and effective manner. While establishing business at new
market, it is important to identify the suitable mode through which company can enter into
market.
How globalization has impacted on business performance of UK fashion industry at International
level?
As per the viewpoint of Puspita and Chae (2021), globalisation creates a great impact on
the business performance of UK fashion industry at international level. Through globalisation,
UK fashion industry can improve the performance of business as they gain access to new culture,
low cost of products, access of new market and new talent. UK fashion industry gains the access
of new culture due to which they can attract new customers towards the brand. In order to run
the business at international level, it is important for UK fashion industry to understand the
culture of the country in which they are operating. The culture plays an important role in
improving the performance and attracting more and more people towards the brand. Through
globalisation company can also gain access to new talent. The new employees brings
creativeness and innovation which helps in improving the growth and productivity of business.
Thus, globalisation has influenced the business performance of UK fashion industry by offering
various of benefits.
What are the effective the strategies that would be used by John Lewis Plc for improving their
business performance at international level?
According to Huggard (2020), there are various effective strategies which can be used by
company for improving the business performance at international level such as improving
marketing activities, offering high quality of products and services, understanding the needs and
expectation of customers, motivating employees, monitoring trends and creating positive
working environment. These are the strategies which help in improving the performance and
productivity of business at international level.
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Critical Evaluation of the Research Interest
Ethical Consideration
Ethical consideration is a set of ethics and application which must be followed by the
researcher while collecting the information related to UK fashion industry. The principles of
ethical consideration must be followed as it helps in collecting the information without affecting
the emotions and sentiments of individuals (Sperfeld, Raubenheimer and Wacker, 2016). Ethical
consideration is important in research as it helps in promoting the aims of the resrecah by
expanding knowledge. Through research ethics, researcher can also support the values which are
required for the collaborative work such as fairness and respect (Bradford, 2019). There are few
ethical considerations which must be followed by researcher such as voluntary participation,
authenticity, no use of outdated papers, confidentiality, work with integrity, transparency and
honesty. The university code of practice for ethical standards for research are honesty,
objectivity, integrity, openness, confidentiality, respect for intellectual property and responsible
publication. This ethical principle must be followed by the researcher while gathering the data
related to the impact of globalisation on UK fashion industry (Dave, Sur and Gupta, 2021).
Limitations
While conducting this research, there are various limitations which are faced by
researcher such as formulation of aims and objective, collecting accurate information of UK
fashion industry, time management and availability of expired data through secondary sources
(Ienca and et. al., 2018). These problems create a great impact while conducting the resrecah in
effective and efficient manner. Researcher have faced issues regarding collecting the accurate
and genuine information. It becomes difficult to identify which information is true and related to
the subject matter.
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REFERENCES
Books and Journals
Ahmed, Z. and et. al., 2019. Does globalization increase the ecological footprint? Empirical
evidence from Malaysia. Environmental Science and Pollution Research, 26(18),
pp.18565-18582.
Arif, A. and et. al., 2020. The role of globalization in financial development, trade openness and
sustainable environmental-economic growth: evidence from selected South Asian
economies. Journal of Sustainable Finance & Investment, pp.1-18.
Ayertey, S. and Ozuem, W., 2018. Developing Compelling Online Recovery Strategies:
Implications for the Fashion Clothing Industry. In Digital Marketing Strategies for
Fashion and Luxury Brands (pp. 264-288). IGI Global.
Bradford, J., 2019. The fashion industry. In Fashion Journalism (pp. 69-93). Routledge.
Dave, V., Sur, S. and Gupta, N., 2021. Current Framework, Ethical Consideration and Future
Challenges of Regulatory Approach for NanoBased Products. Nanopharmaceutical
Advanced Delivery Systems, pp.447-472.
Dodd, M., 2018. Globalization, pluralization, and erosion: The impact of shifting societal
expectations for advocacy and public good. The Journal of Public Interest
Communications. 2(2). pp.221-221.
Huggard, E., 2020. The fashion industry context. In Communicating Fashion Brands (pp. 20-38).
Routledge.
Ienca, M and et. al., 2018. Ethical design of intelligent assistive technologies for dementia: a
descriptive review. Science and engineering ethics. 24(4). pp.1035-1055.
Puspita, H. and Chae, H., 2021. An explorative study and comparison between companies’ and
customers’ perspectives in the sustainable fashion industry. Journal of Global Fashion
Marketing, 12(2), pp.133-145.
Siagian, H., Jade, K. and Tarigan, Z., 2020. The role of affective leadership in improving firm
performance through the integrated internal system and external integration FMCG
Industry. International Journal of Data and Network Science. 4(4). pp.365-372.
Sperfeld, E., Raubenheimer, D. and Wacker, A., 2016. Bridging factorial and gradient concepts
of resource colimitation: towards a general framework applied to consumers. Ecology
Letters, 19(2), pp.201-215.
Valdez-Juárez, L. E. and Castillo-Vergara, M., 2020. Technological capabilities, open
innovation, and eco-innovation: Dynamic capabilities to increase corporate performance
of SMEs. Journal of Open Innovation: Technology, Market, and Complexity. 7(1).. p.8.
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APPENDIX
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