The Impact of Globalization on Business Success: A TK MAXX Study

This dissertation investigates the influence of globalization on the success of businesses, with a specific focus on TK MAXX, a multinational company operating in the retail sector. The study utilizes both primary and secondary data collection methods, including surveys with 40 employees, to analyze the impact of globalization on TK MAXX's performance. The research explores the benefits of globalization, such as enhanced customer reach, and its challenges, like increased competition. The findings highlight the positive overall impact of globalization, emphasizing its role in creating business opportunities and driving success. The dissertation includes a literature review, research methodology, findings, discussion, conclusion, recommendations, and implications for further research, providing a comprehensive analysis of globalization's role in TK MAXX's strategic approach to international business operations.

Dissertation

ABSTRACT
The current study based on globalization and its role in the success of businesses which
support in providing information for the formation of effective strategy towards business
expansion. The current study has been conducted on TK MAXX, a well known company which
mainly deals in handbags and other accessories items. Operational activities of this company are
executed at international marketplace. Both the primary and secondary sources of data collection
has been used by investigator for gathering desired information. Also total 40 employees as the
respondents has been chosen as the sample size as they are having detailed knowledge on
performance of TK MAXX and influence of globalization over it. With the support of this
investigation, it has been acknowledged that the concept of globalisation has both kind of impact
over the performance of international companies like TK MAXX. The main benefit that are
attained by these companies are better approach to customers whereas its negative impact is that
it is enhancing competition which is affecting overall performance of business organisations. The
overall influence of globalisation is positive for the businesses which helps them out in attaining
range of business opportunities which leads to success.

ACKNOWLEDGEMENT
For the very first time I would like to thank God for providing me positive energy in
order to accomplish all provided task effectively and achieving goals and objectives. Also, I want
to express thanks towards my superiors and mentors who have provided me guidance in
completing dissertation in appropriate. I would also appreciate the level of patience
acknowledged among my seniors at the time of analysing, reviewing my work, resolving my
issues, providing suggestions as well as guiding me each and every stage of dissertation.
Apart from this, the huge thanks is expressed towards management team of TK MAXX
and overall workforce of this company who provided me authenticate information.
Last but not least, I would like to provide huge thanks to my family members and friends
who have supported me at the every stage of this project and motivated me to complete it
appropriate manner.

Table of Contents
ABSTRACT.....................................................................................................................................2
ACKNOWLEDGEMENT...............................................................................................................3
List of Tables...................................................................................................................................6
List of Figures..................................................................................................................................7
TITLE: How globalization can drive a business to success. A case of study for TKMAXX.........8
CHAPTER 1: INTRODUCTION....................................................................................................8
1.1 Background of research topic...........................................................................................8
1.2 Background to research organization...............................................................................9
1.3 Research rationale............................................................................................................9
1.4 Research questions.........................................................................................................10
1.5 Research aims and objectives.........................................................................................10
Research aim........................................................................................................................10
CHAPTER 2: LITERATURE REVIEW.......................................................................................11
2.1 Introduction of literature review.....................................................................................11
2.2 Main body with heading and sub-headings....................................................................11
2.3 Conclusion of literature review......................................................................................14
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................16
3.1 Research process............................................................................................................16
3.2 Research approach..........................................................................................................16
3.3 Research strategy............................................................................................................16
3.4 Research methodology...................................................................................................17
3.5 Research instruments/tools.............................................................................................18
3.6 Sampling.........................................................................................................................18
3.7 Ethical implications........................................................................................................18
CHAPTER 5: FINDINGS.............................................................................................................21
Frequency table....................................................................................................................21
CHAPTER 6: DISCUSSION.........................................................................................................36

CHAPTER 6: CONCLUSION, RECOMMENDATIONS AND IMPLICATIONS FOR
FURTHER RESEARCH-800........................................................................................................40
7.1 Conclusion......................................................................................................................40
7.2 Recommendations..........................................................................................................40
7.3 Implications for further research....................................................................................41
REFERENCES..............................................................................................................................43

List of Tables
Index of Tables
Table 1: Theme 1: The concept of globalisation..........................................................................23
Table 2: Theme 2: Influence of globalisation on business performance of TK MAXX...............24
Table 3: Theme 3: Main benefits associated with globalisation that will get by TK MAXX.......25
Table 4: Theme 4: Globalisation will help TK MAXX in gaining competitive edge at
international marketplace...............................................................................................................26
Table 5: Theme 5: Globalisation develops more number of growth options for the employees...27
Table 6: Theme 6: The main challenges that might be faced by TK MAXX while globalising its
business..........................................................................................................................................28
Table 7: Theme 7: The main resources that will be need utmost while expanding their businesses
at international marketplace...........................................................................................................29
Table 8: Theme 8: Best strategy through which TK MAXX can attain success in rightful manner
........................................................................................................................................................30
Table 9: Theme 9: TK MAXX must provide training and development sessions to its workforce
for improving their performance....................................................................................................31
Table 10: Theme 10: Globalisation leads to attainment of success for TK MAXX......................32
Table 11: Theme 11: Impact of Globalisation over employees of TK MAXX while globalising
their business..................................................................................................................................33
Table 12: Theme 12: Globalisation helps TK MAXX in attracting more number of customers. .34

List of Figures
Illustration Index
Illustration 1: The concept of globalization...................................................................................23
Illustration 2: Influence of globalization on business performance of TK MAXX.......................24
Illustration 3: Main benefits associated with globalization that will get by TK MAXX...............25
Illustration 4: globalization will help TK MAXX in gaining competitive edge at international
marketplace....................................................................................................................................26
Illustration 5: globalization develops more number of growth options for the employees...........27
Illustration 6: The main challenges that might be faced by TK MAXX while globalising its
business..........................................................................................................................................28
Illustration 7: The main resources that will be need utmost while expanding their businesses at
international marketplace...............................................................................................................29
Illustration 8: Best strategy through which TK MAXX can attain success in rightful manner.....30
Illustration 9: TK MAXX must provide training and development sessions to its workforce for
improving their performance.........................................................................................................31
Illustration 10: globalization leads to attainment of success for TK MAXX................................32
Illustration 11: Impact of globalization over employees of TK MAXX while globalising their
business..........................................................................................................................................33
Illustration 12: globalization helps TK MAXX in attracting more number of customers.............34

TITLE: How globalization can drive a business to success. A case of study for TKMAXX
CHAPTER 1: INTRODUCTION
1.1 Background of research topic
Globalization is determined as the integration of two or more nations, businesses,
government and people across the world with the motive of mutual growth. Changing
expectation of individuals across the world has initiated this concept and influenced businesses
to execute their business activities at international scale so that they can easily become successful
(Clark, 2014). The main concept of globalization has not only provided benefits to the businesses
but at the same time it has open up range of options for the customers too as they are able to
approach their favourite in international market too. Along with this, it also creates huge job
opportunities for the employees too as they are getting variety of job options within their local
area as well as international marketplace. This directly reduces unemployment rate worldwide
that also leads to enhancement of standard of living.
The term globalization is also providing opportunities to business association which leads
to enhancement of businesses opportunities as well as profitability at international market scale
in rapid manner (Amran and et. al., 2015). Along with this benefits and positive aspects the term
globalization has its own drawback as well as challenges too which directly placing negative
impact over the business performance of the company. The main issue which creates lots of
issues for businesses is increasing competition at market place. Also expectations of the
customers are also increasing from the localise businesses as customers thinks that these
companies also offers products which are offered by international brands. This is directly
creating huge difficulty for the local companies.
The present investigation has been conducted for TKMAXX a large scale subsidiary
company of TJX companies. The respective company belongs to retail sector and headquarter in
Framingham, Massachusetts, US. Operational activities of this company is being operated at
international market place. The top management team of this enterprise has analysed that its
business managers are not able to handle their work performed with the interaction of
international countries. In order to improvise their understanding over the same, its top
management team has planned to conduct research on the globalization and how it contributes in
the success of TKMAXX while they are executing their work at international market scale in

effective manner. Along with this, the top management team of this company is aiming to focus
on exploring overall globalization associated information in order to utilise it effectively while
executing business activities in international marketplace. In this regard, the researcher has
developed adequate research aim, objectives and questions.
1.2 Background to research organization
TK MAXX has huge customer base within local as well as international market place too.
The respected company has opened up its very first international store in Bristol in the year
1994. Founders has modified its name to TK MAXX in order to avoid confusions settle down its
store within British effectively. In the year 2007, the respected company has focused opening up
its new stores within UK. The main motive behind this to convert the image of this store as the
larger department which offers product range to its customers in rightful manner. It mainly deals
in apparel and home goods which are being offered in all of its stores throughout Australia,
Germany, Austria, UK, Ireland, Poland and the Netherlands. Later the company has also entered
into e commerce site where it has initially focused on offering handbags to its customers but later
it has enhanced its product range with other accessories items too. With the passing time
business of this company has been extended towards in many countries. At present stage, it owes
almost 515 store across Europe and around 38 stores in Australia. The company is now aiming to
expand its business and other leftover regions too in order to maximize their profitability as they
are getting opportunities to approach more number of customers at international scale. Along
with this, TK MAXX is also getting opportunities to develop their relationship with the other
firms too that will directly provide them support in improvising their business performance with
effective collaboration with them.
1.3 Research rationale
The main purpose of choosing present topic as the main research topic is the personal
interest of investigator towards this topic as it is one of the emerging topic worldwide. Along
with this, by conducting research on this topic investigator will be able to improve their research
skill, communication skill, analytical skill and many others skills which will directly help them
out in conducting more effective research in the near future (Potrafke, 2015). In context to
TKMAXX, it can be said that this investigation will develop knowledge of managers as well as
other readers about the concept of globalization and how it support businesses in attaining
success in quicker manner. This will directly provide guidance to businesses to make use of these

knowledge and attain success in their respective field by implementing rightful strategies. This
will also support them in improving their business performance.
1.4 Research questions
 Explain globalization and its importance for businesses?
 How globalization influences business performance of TKMAXX?
 What are the various challenges experienced by TKMAXX while globalising their
business?
 What are the different strategies by which TKMAXX can attain success?
1.5 Research aims and objectives
Research aim
The research aim for proposed study is “To analyse role of globalization in the success of
large scale multinational organisation.” A case of study for TKMAXX.
Research objectives
 To develop understanding on the concept of globalization and its importance for
businesses.
 To analyse influence of globalization over the business performance of TKMAXX.
 To determine various challenges experienced by TKMAXX while globalising their
business.
 To explore different strategies by which TKMAXX can attain success.

CHAPTER 2: LITERATURE REVIEW
2.1 Introduction of literature review
A literature is also known as a narrative review and it mainly defines as a comprehensive
summary of a past exploration on a specific investigation topic. This part plays a vital role in the
providing in-depth evaluation via developing effective theoretical framework which in turns in
creating value through developing the understanding of learner and researcher in relation to the
chosen study area (Berger and et. al., 2015). In addition to this, literature review in an
investigation is encompasses over secondary source of information, therefore, in this data is
mainly accumulated through books, journals, published articles, past investigation and so on. In
the case of this present investigation based on analyzing the role of globalization in the success
of large scale multinational organization, literature review is significant in providing suitable
information to assisting the work in right manner to exploring suitable results. This section of
investigation is effective in enhancing the understanding of the researcher and others in regards
to the chosen study area.
2.2 Main body with heading and sub-headings
The concept of globalisation and its importance for businesses.
According to the views expressed by John Williamson, 2019, globalisation is defined as
the integration of markets in the global economy that leads to the developed interconnectedness
of national economies. In addition to this, globalisation is the word which is implemented to
analyse the growing interdependence of the world's economies, populations and cultures, brought
in regards to the cross border trade in goods and services, technology and flow of investment,
information and people. Furthermore, Globalization is also recognised to be the beginning of
local and nationalistic view to a broader outlook of an interconnected and inter-dependent
universe with free transfer of capital, goods, and services across national frontiers. From the
views analysis of Fredrik Erixon, 2018, globalisation is an effective aspect which in turns in
creating benefits for the businesses in establishing international connection to develop and
growth. In the context of business, globalisation has effective significance like Better access to
skilled workforce, Higher business opportunities, Increase in profitability, wider market
opportunities etc. Globalisation is an effective aspect which is significant for the businesses to
provide opportunities to explore their operations at wider scale for the purpose of attaining

higher growth and success. Therefore, businesses now a day's are very much concern over
attaining higher growth and success and enhance the competition at market place via exploring
the operations of the business at global level. Thus globalisation is imperative in providing better
access to skilled workforce, however, globalisation provides opportunities to explore their
operations at international level and also provide chance to the businesses to hire skilled and
talented people from the assorted areas. Thus it is significant for a business to attain higher
growth and success at market place (Berry, 2015). Globalisation is also effective in developing
the profitability of the business via capturing a wider market at domestic as well as international
level. In addition to this, Globalization also enables businesses to realize economies of scale
which reduce costs and prices, which in turn supports further economic growth. Therefore, this is
also beneficial for the business to attain more profitability and growth at market place.
The influence of globalisation over the business performance of TKMAXX.
As per the views expressed by Jim Riley, 2015, globalisation is recognised to be a force
which provides shapes to the contemporary world, affecting business environment and society.
Globalisation in the context of business plays an effective role in the growth and success of the
business. Globalisation Has direct impact on the operations and progression of the business as it
provides opportunity to the business to explore their operations within any region or country it is
significant in provide wider access to the business to capture a wide area for the purpose of
enhancing their operations. As a large retail business TKMAXX is mainly concern over
enhancing their operations and functions at market place and globalisation is recognised to be a
best driver which helps the business in improvising the operations and functions. Globalisation
mainly develops positive influence on the operations in functions of business (Bossle and et. al.,
2016). Therefore, globalisation is effective in influencing the profitability of the business via
expansion of the business at wider place. In addition to this globalisation is also jewel in increase
in the production of a business hi well skilled and talent from the diverse areas, thus people from
diverse area are effective in implementing new ideas and expand their knowledge in enhancing
the productivity of the business. However globalisation has direct impact on the operations of
TKMAXX, thus business has gained a huge growth and success as the company is operated at
global level and playing as the leader of retail market.
Challenges experienced by TKMAXX while globalising their business