Managing a Successful Business Project in the Context of Globalization

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Managing a Successful Business Project on Globalization
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Index
Introduction......................................................................................................................................3
LO1- Establish project aims, objectives and timelines based on the chosen theme................3
P1- Device project aims and objectives for a chosen scenario....................................................3
P2- Produce a project management plan that covers aspect of cost, scope, time, quality,
communication, risk and resource...............................................................................................6
P3- Produce a work breakdown structure and Gantt chart to provide timeframe and stages for
completion...................................................................................................................................7
LO2 – Conduct small – scale research, information gathering and data collection,
generating knowledge to support the project............................................................................13
P4- carry out small – scale research by applying qualitative and quantitative research methods
appropriate for meeting project aims and objectives.................................................................13
LO3- Present the project and communicate appropriate recommendations based on
meaningful conclusions drawn from the evidence findings and/or analysis..........................17
P5-Analyse research and data recommendations because of research and data analysis to draw
valid and meaningful conclusions.............................................................................................17
P6-Communicate appropriate recommendations as a result of research and data analysis to
draw valid and meaningful conclusions....................................................................................29
LO4- Reflection on the value gained from conducting the project and its usefulness to
support sustainable organizational performance.....................................................................29
P7- Reflect on the value of undertaking the research to meet stated objectives and own
learning and performance..........................................................................................................29
Conclusion....................................................................................................................................31
References.....................................................................................................................................32
Reflective......................................................................................................................................33
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Introduction
A start-up company faces numerous challenges in the competitive market especially when the
competitor has a global presence. In this context, the start-up restaurant organization is expected
to face numerous challenges from McDonald’s. Thus, it requires a strategic business plan to
excel in the competitive market. A project management plan is laid out with aims, objectives,
and a budget planning so that the project work can be delivered within the time limit. The
importance of project management in developing a strategic business plan is required for a new
company so that they can outshine in the global competitive market.
LO1- Establish project aims, objectives and timelines based on the chosen theme
P1- Device project aims and objectives for a chosen scenario
Definition of project
The efficient management of business projects is referred to as business project management.
The aggregation of numerous strategies and quality evaluation of the chosen business helps the
business to excel in the competitive environment. A business project is mainly grouped either by
purpose or by content (Lock, 2018). Business projects are different for different organizations
and it usually aligns with the company’s objectives. There are three types of business projects. It
can be strategic, operational or recurring. Depending on the business operations and the market
presence, an organization chooses the kind of business projects. In order to satisfy the customers’
needs, stakeholders’ requirements and company’s economic benefits, an effective business
project plan is selected.
Project aim
The aim of the business project management is to analyze the different business strategies
adopted by a start-up restaurant organization to remain safe from their rival counterparts.
Company background
The food service businesses are increasing globally as there is a shift observed in demographics
and change is observed in lifestyles. People are having busy schedule and they are not getting
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enough time to cook. They want to cherish the taste of fresh food without any hassle of self-
cooking. They prefer to experience only the ambience of fresh food services but they do not want
to face the troublesome cleaning process of kitchen. Therefore, they go to restaurants to get rid of
their daily tiredness, to have good and delicious food and to avoid hassle-free kitchen outcomes.
This increasing trend of visiting numerous restaurants has led to an enormous rise in the
establishment of new restaurants at every locality. Moreover, this is encouraging the start-up`
restaurant organizations to come up with many thematic features to charm the customers.
Project objectives
The objectives of the project work are given below:
 To uplift the rate of trade across different regions so that the organization is established in
an efficient manner
 To predict the level of labor migration for a start-up organization
 To apprehend the materialization of the organization during the globalization period
 To evaluate the impact of strategic measurement that will be implemented by the
company for a successful revenue rate
Problem statement
Globalization is a new trend observed by every organization. It is evident that globalization has
paved way for many start-up companies to establish their position in the competitive market. In
this context, the project management plan is built for a start-up restaurant that can face
significant threats from an established organization like McDonald’s. The competitive
advantages gained by McDonald’s can pose numerous challenges for a new restaurant. A
thorough analysis of the problems will help the new restaurant to promote strategic solutions to
its business operations. Therefore, different aspects of problem that can be faced by the
organization are discussed here.
Economic impact- It is necessary for every project to conduct an economic or financial analysis
so that the sustainability of the project can be predicted. Moreover, it also helps to select a
specific design for the project so that it can provide immense economic benefit to the
organization (Katiyar et al., 2018). The sustainable improvement in the overall project will
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forecast the market acceptance of the services provided by the organization. The issues faced in
this particular business is that it can face huge competition from an establish firm like
McDonald’s. Therefore, economic analysis for this particular business will help the company to
identify and invest in the accurate resources to uplift the economic benefits for the organization.
Thus, the organization must undertake the basic estimation to see whether the product life cycle
has a long shelf life or not. Additionally, it will help the investors to identify the investment costs
and corresponding outcomes related to it.
Cultural impact- Project management signifies the planning and organizing of the resources so
that target is achieved by the organization. Therefore, success depends on the outcomes achieved
and the efforts placed in implementation of specific resources at the time of project commitment.
It is necessary that the project work must apply its strategies towards the betterment of the
society. Culture is defined as the group of people that have a significant impact on the project
work (Stendebakken and Olsson, 2018). The culture of an organization helps the employees to
adjust best with the organization culture. It is necessary that the organization have a strict project
management authority and regulations. A strict culture is required for a start-up to set up an
efficient employee platform in an organization. This will generate an efficient working
environment for the workforce. The project manager is required to address the project team in an
effective manner. The conflicts must be efficiently managed by the higher authorities so that a
healthy culture is maintained by a start-up organization.
Ethical impact- Ethics play crucial role in the development of project management. It uplifts the
professional as well as future standards. Moreover, trust and faith are important among the
employees. Ethical impacts are significant on the organizational culture (Turner, 2018). This can
prevent the internal conflicts that are likely to take place when the management is not efficient to
maintain the working environment. It is required to analyze the ethical impact of the project
management on an organization, especially on a start-up firm. The attitude and behavior of the
employees can be managed if proper training and development events are available in the
company. The project management code of ethics states that a project team member must be
honest and dedicated towards the project management plan. If the duties provided to them are not
fulfilled, it can cause rapid breakdown of the total project plan.
Data collection methods
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Primary data collection procedure is mainly adopted by the researcher to carry out the analysis
related to the project management scheme of a start-up restaurant form (Christensen and
Limbach, 2019). In order to analyze this efficiently, a thorough survey consisting of
questionnaires and interview were carried out. Primary data are those data that are aggregated by
the researcher for the first time. It is chosen as an important means of study as the data collected
is valid and the research problems associated with it are specific. Interview method is one of the
most important methods of data collection where the interview questions are directly asked to a
specific group of people. Additionally, to gain proper knowledge about the research topic,
questionnaires are done on a selected group of respondents.
Sampling size and technique
A total number of 300 employees of the start-up restaurant were chosen for the survey, out of
which only 215 agreed to participate in the questionnaire round. Moreover, two managers are
interviewed to get a detailed idea about the business operations of this newly established
company in this period of globalization. In order to identify the market position and the
employee performance of the start-up restaurant, random sampling technique is implemented in
an efficient manner. Random sampling technique is usually preferred by the researcher so that a
clear view is obtained from an unbiased population (Elgarat et al., 20190. An individual is
chosen randomly for the population group and thus, contribute effectively to the data analysis
related to the chosen topic. There are numerous ways for random sampling technique. The main
purpose is to highlight the advantages and disadvantages of a start-up company in this global
competitive era. Thus, questionnaires and interviews along with random sampling are found to
be effective in this scenario.
P2- Produce a project management plan that covers aspect of cost, scope, time, quality,
communication, risk and resource
Arrangement of
activities
Time involvement
(days)
Value/hour rate (£) Final cost (£)
Data aggregation
methodology
8 38 304
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Review of the
data
5 37 185
Project
endorsement
4 32 128
Project closure 3 33 99
TOTAL 716
Table 1: Project activities checklist
(Source: Created by the Learner)
P3- Produce a work breakdown structure and Gantt chart to provide timeframe and stages
for completion
Project management
In order to maintain a project efficiently, a strategic management is required. This can be
referred to as project management (Lopez et al., 2018). The application of numerous tools,
knowledge, skills, techniques and activities to meet the requirements of the project is known as
project management.
Project scope
The project scope analyzes the different parts of the project work that can provide future research
scope. It is that part of the project where goals and targets are set for the efficient completion of
the project work. Through this, a project researcher is able to identify the loopholes of the
research work.
Communication
Efficient communication is needed among managerial hierarchies so that proper and accurate
information is transferred across the employee base. The leaders call the project team members
to discuss the different responsibilities and task of each researcher. This needs verbal
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communication skills, as the message is conveyed in a significant manner through this
communication channel.
Resources and risks
Resources
The resources of the project management plan denote the various sources that affect the accuracy
and success rate of the project work. The main role of a resource in project management is to
carry out the project work in the right path. A resource can be a project team, an individual,
investments or an analysis tool (Tonchia et al., 2018). Numerous resources are required for a
project work and it mainly depends on the kind of project management plan chosen for the
organization.
Risks
Week Recollectio
n of risk
(Date)
Issues pointed Approximat
e value
Level of
influenc
e
Impact on
the
project
activities
Action taken
to eradicate
the risks
First
Week
19.04.2019 Employees
face numerous
threats while
working of the
organization.
The primary
risk is the lack
of
communicatio
n with the
higher
authorities.
The cultural
management
Project head
presents the
demonstratio
n regarding
the overall
view of the
project work
H It is
necessary
that the
team head
as well as
the project
managers
provide
efficient
informatio
n about the
risk
pertaining
with the
The
management
must guide
the project
team with
utmost
importance,
so that if any
issues arise
during the
research, it
can be
tackled
professionall
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may not be
efficient to
understand the
problems of
employees.
Therefore, a
communicatio
n gap is
created and
because of this
employee
performance is
affected and in
turn
organizational
performance.
work. If
valid and
authentic
informatio
n are not
provided to
the
research
team,
project
disruption
is likely to
occur
y
Secon
d
Week
12.05.2019 The financial
investment in
the project
work is
sometimes less
as expected. It
is because of
this, project
budget is
lowered. Thus,
the project
work is not
efficiently
carried out due
to the lack of
The manager
of the project
work
provides
guidance to
the project
team so that
they perform
well in the
project work
M If the
project
manager
fails to
guide the
project
team, the
business
can face
significant
losses in
terms of
finance
The project
manager
must guide
the project
team in an
efficient
manner so
that they can
excel in the
project work
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investment
Abbreviations used-
H (High), M (Medium)
WORK BREAKDOWN STRUCTURE
Acti
vity
list
Activity schedule
To inspect the numerous cultural, social and ethical influence of globalization with
respect to business operations of a start-up restaurant
1.0 Project onset
1.1 Initial study
1.2 Basic resource categorization
1.3 Pertinent questions developed for survey
1.4 Scrutinizing the growth of the project
2.0 Project exploration strategies
2.1 Data assembling
2.2 Secondary literature requirements
2.3 Quantitative and Qualitative research
2.4 Data survey
2.5 Data termination
3.0 Finalizing the project
3.1 Certification
3.2 Project assessment
3.3 Project exhibition
3.4 Project resolution
Table 2: Work breakdown structure
(Source: Developed by the learner)
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Gantt chart (Table)
Tasks Activities’ name Commencement
date
Duration of
tasks (days)
Date for
completing the
project
1.0 Project onset 02.03.19 7 09.03.19
1.1 Initial study 09.03.2019 6 15.03.2019
1.2 Basic resource
categorization
15.03.2019 10 25.03.2019
1.3 Pertinent
questions
developed for
survey
25.03.2019 16 09.04.2019
1.4 Scrutinizing the
growth of the
project
09.04.2019 5 14.04.2019
2.0 Project
exploration
strategies
14.04.2019 8 22.04.2019
2.1 Data assembling 22.04.2019 4 29.04.2019
2.2 Secondary
literature
requirements
29.04.2019 7 11.05.2019
2.3 Quantitative and
Qualitative
research
11.05.2019 6 17.05.2019
2.4 Data survey 17.05.2019 6 23.05.2019
2.5 Data termination 23.05.2019 5 28.05.2019
3.0 Finalization of
project
28.05.2019 6 03.06.2019
3.1 Certification 03.06.2019 8 11.06.2019
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