Business Research Project: Greenergy's Expansion into Turkey

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BUSINESS RESEARCH PROJECT
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Table of Contents
LO1: Task 1................................................................................................................................3
Chapter 1: Introduction..............................................................................................................3
Chapter 2: Literature Review.....................................................................................................4
Chapter 3: Research methodology.............................................................................................9
Reference list............................................................................................................................13
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LO1: Task 1
Chapter 1: Introduction
1.1 Background of the research
The study is performed as globalisation focuses on movement of goods, data, and services
and people that increases GDP rate of developing countries. This study will guide modern
businessman to modify their business strategy in such a way so that they can enter Turkey as
their new emerging market without any hindrance. Furthermore, this study has been
performed to identity business based issues that the enterprises are facing when they are
trying to establish their business in new emerging market.
Rufaidah (2017) mention that well-established enterprise tries their level best to establish
their business in emerging market as it guides the enterprise to expand their business in
global market. This study will guide developed country to modify their business concept so
that they can create a positive effect on their financial condition. In case of this research,
Greenergy will target Turkey as their emerging market in order to sell their bio fuels and
green concept to make the world greener in nature. Georgiadis and Mehl (2016) commented
that this globalisation reshape government trade activities and other rules and regulation that
can guide the country to enhance their foreign exchange rate.
Main issue of the globalisation is lack of protective concept due to which local
businesspersons often faced high competitive loss. Additionally, this concept needs trade
openness and sound macroeconomic policies so that foreign businesspersons can bring
economic growth and volatility.
1.2 Research questions
 How globalisation concept allows Greenergy to execute their business in new
emerging market that is in Turkey?
 Which impact is observed in country’s economical condition after open trade concept
in their rules and legislation?
 How marketing executives do perform research in new emerging market so that they
can establish their business successfully in Turkey?
 What is recommendation for Greenergy while they are emerging in Turkey for
establishing their green concept?
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1.3 Aim
The aim of the research is to analyse importance of globalisation when an enterprise is
emerging into new market. This research will give stress on Greenergy’s marketing concept
and policies so that they can establish their business in Turkey fruitfully. This concept guides
the businesspersons to integrate into promising emerging market so that they can enhance
their brand identity and recognition in a systematic way.
1.4 Objectives
 To find out importance of globalisation concept so that Greenergy can execute their
business in new emerging market that is in Turkey.
 To analyse the impact of globalisation concept on economical condition of Turkey
 To understand different factors that marketing executives can follow in order to set up
Greenergy’s green concept in Turkey
 To provide recommendation related to globalisation concept to Greenergy so that they
can establish their business in new emerging market
Chapter 2: Literature Review
2.1 Introduction
In the literature review section, the study will deal with globalisation concept and its theories
in order to state its importance in recent businesses. In this section, factors that affects
globalisation and its challenges will be highlighted that will guide the organisation to manage
their business issues in new emerging market. This research will focus on the globalisation
concept in emerging market.
2.2 Challenges that affected Greenergy to enter into Turkey
As per viewpoint of Jones and Wren (2016), in Turkey a business can be started within short
period, however the organisation should have Commercial registry notification from
Turkey’s tax office so that they can execute their business effectively. Additionally, culture is
the other issues that split Turkey between east and west zone. Due to this cultural barrier,
Greenergy’s marketing executives will perform effective research based on diverse nature of
Turkey in order to identify their business opportunities effectively. On the other hand,
Rufaidah (2017) opine that adequate local knowledge about new emerging market allows the
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enterprise to execute their business in location effectively. In this case, Greenergy will select
their bio fuel as their innovative product so that they can perform their green concept
business in Turkey to decrease pollution rate precisely. However, executives’ of Greenergy
will follow enforcing contracts so that they can perform their business in Turkey without any
chaotic altitude and governmental penalties’.
2.3 Factors that Globalisation in emerging market
Several factors that affect globalisation are as follows:
Containerisation:
As asserted by Gygli et al. (2018), ocean shipping total cost has been decreased so that trade
activities between different countries can be performed effectively. On the other hand,
Morgan (2017) argue that non tariff protection such as foreign exchange controls, import
licensing impose greater taxation rate on enterprise due to which they have to struggle a lot
while executing their business in international market. Therefore, before, performing
business in international market, higher team of enterprise prepares a balance sheet based on
their profit margin and expenditure to execute their business activity successfully.
Technological change:
As per viewpoint of Soltanizadeh et al. (2016), advanced technology has managed to perform
death of distance due to which modern organisation try their level best to expand their
business in international community. On the contrary, Brustbauer (2016) argue that
technological advancement changes demographic trends and needs of people due to which
modern enterprises have to change their policy in order to maintain their identity in
competitive market. Henceforth, it can be said that rapid sustained technological change
guides the enterprise to execute their communication level with all their stakeholders. This
outstanding communication strategy guides companies’ to change their business strategy in
order to meet recent demand of community precisely.
2.4 Theories related to globalisation
Normative model
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Figure 1: Normative model
(Source: Chaffey, 2015)
As per viewpoint of Matt et al. (2015), normative model aids the organisation to change their
business strategy so that they can tackle social changes of each area of their business
precisely. On the other hand, Chaffey (2015) argue that social changes often set some
uncertain beliefs due to which organisation have to face social threats that adversely affects
their recognition. Henceforth, it can be said that the global enterprise first check social
changes expected outcome before changing their strategy in order to maintain their identity
effectively. In case of Greenergy, this model will allow them to get a vivid idea about cultural
difference in between east and west zone of Turkey. Hence, this updating will allow them to
prepare their green concept in such a way so that they can manage their business issues in
systematic way in new emerging market.
World system theory
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Figure 2: World System theory
(Source: Georgiadis and Mehl, 2016)
This theory plays a vital role in globalisation concept as it deals with economic, social and
political factors in order to manage world economic system. According to Georgiadis and
Mehl (2016), this theory allows the enterprise to get cheap labours in their business in order
to increase their business outcome. Furthermore, cheap raw materials transport system allows
the enterprise to manage huge demand of product and it creates a positive affect on their
economical condition. Greenergy can use this model in order to get cheap supply of raw
material for preparation of bio fuel and this can allow them to establish their business in
Turkey successfully.
2.5 Conceptual framework
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Globalisation
Concept: Greenergy
focuses on Turkey as
their emerging market to
raise their green concept
(bio-fuel)
Emerging market
Concept: Expands recognition
of the enterprise in international
market
Theory: Normative model, World System theory
Impact: Establishment of Greenergy in Turkey after identifying their business opportunity
Figure 3: Conceptual Framework
(Source: Created by learner)
2.6 Challenges in the Turkey market against business expansion
East and West zone culture of Turkey creates huge difference, due to which Greenergy has to
think in which area they will set up their green business. Rufaidah (2017) mentioned that
executives of the enterprise first conduct situational analysis through SOSTAC model in
order to get an idea about their scope and opportunities’ of business. However, in case of
Turkey, every foreign enterprise has to give their business detail in front government that
reduces their innovative feature of business. Additionally, foreign organisation has to perform
15 tax payments’ per year that reduces organisation’s economical condition (Tmf-group.com,
2019). It has been seen that credit information index and legal rights index is less in Turkey
due to which it becomes troublesome for foreign enterprise to establish their business in
Turkey successfully.
2.7 Gap of literature
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Throughout the study, globalisation concept of Greenergy in Turkey has been discussed;
however, there are other emerging markets for Greenergy that can allow them to boost their
business and economical condition. This can be highlighted as gap of the literature.
2.8 Summary
Two theories have been considered that allows the organisation to get in depth knowledge
about merits and demerits of globalisation. Several factors of globalisation has been
discussed in the section.
Chapter 3: Research methodology
3.1 Introduction
In this chapter, different research methodology will be considered so that researchers can
execute the research in a precise way. In this study, research onion will be added that will aid
researchers to get a vivid concept about different research methods.
3.2 Research onion
Figure 4: Research onion
(Source: Saunders et al. 2012)
3.3 Research approach, design and philosophy
It has been found that research design, philosophy and approach will guide the researchers to
execute their research in right direction. Research philosophy will be considered in the study
so that data can be gathered authentically and can be analysed in a perfect way. Positivism
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research philosophy will be considered instead of interpretivism as it will guide researchers
to understand present condition of globalisation in a systematic way.
There are two types’ of research approaches, which are deductive and inductive. Deductive
approaches will be followed in the study, as it will aid researchers to understand present
condition of globalisation in a perfect way. In case of research design, descriptive design
will be applied in the study to execute the research in a lucrative manner.
3.4 Research methodologies and sample size
In this study, both the primary and secondary research will be considered during the time of
completing the project. While executing the project, 101 employees from the Greenergy will
be considered for understanding globalisation concept of Greenergy in Turkey. 2 managers
of Greenergy will be considered in order to get an idea about their business in new emerging
market. Therefore, total sample size is 103, from where, 101 will be employees and 2 will be
manager. Online survey will be performed by using modern tools so that employees can
express their views based on topic in a perfect manner.
3.5 Techniques
Structured interview and survey will be followed in the research in order to decrease time-
consuming issues in a systematic way. Researchers’ will preset questions so that employees
and managers can give their view regarding globalisation in emerging markets within short
time interval.
3.6 Sampling and Data collection Analysis
In the case of sampling techniques, non-random techniques will be followed. In the data
collection method, interview or primary qualitative method will be considered. In case of
employees, survey or close-ended questionnaire will be conducted and this is under primary
quantitative method. Thematic analysis along with statistical analysis will be executed while
performing the analysis in a precise way.
3.7 Timeline and Action plan
Activities
start
date
duratio
n
closure
date
Identification of the topic 11.5.19 6 17.5.19
Research based on the emerging market 17.5.19 10 27.5.19
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Aim and objectives of research related to globalisation in
emerging market 27.5.19 8 4.6.19
Factors that effects globalisation in the new emerging market 4.6.19 5 9.6.19
Discussion based on Literature review related to globalisation
concept 9.6.19 15 24.6.19
Discussion on globalisation theories 24.6.19 20 14.7.19
Selection of right methodologies 14.7.19 12 26.7.19
Ensuring its validity and appropriateness 26.7.19 10 05.8.19
Table 1: Timeline
(Source: Created by learner)
Gantt Chart
Identification of the topic
Research based on the emerging market
Aim and objectives of research related to globalisation in
emerging market
Factors that effects globalisation in the new emerging market
Discussion based on Literature review related to globalisation
concept
Discussion on globalisation theories
Selection of right methodologies
Ensuring its validity and appropriateness
11.5.19 30.6.19 19.8.19
3.8 Summary
In the study, it can be easily analysed that researchers will select right research
methodologies in order to execute it perfectly. Timeline has been provided to understand the
duration of research. Additionally, Data protection Act will be followed in order to conduct
the research in a secure way. Therefore, it can be analysed that this research will able to
provide perfect conclusion based on globalisation concept in new emerging market.
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Reference list
Brustbauer, J., 2016. Enterprise risk management in SMEs: Towards a structural
model. International Small Business Journal, 34(1), pp.70-85.
Chaffey, D., 2015. Digital business and e-commerce management. London: Pearson
Education Limited.
Georgiadis, G. and Mehl, A., 2016. Financial globalisation and monetary policy
effectiveness. Journal of International Economics, 103, pp.200-212.
Gygli, S., Haelg, F., Potrafke, N. and Sturm, J.E., 2018. The KOF globalisation index–
revisited. The Review of International Organizations, 45(8), pp.1-32.
Jones, J. and Wren, C., 2016. Foreign direct investment and the regional economy.
Routledge.
legislation.gov.uk 1998, Data Protection Act 1998, Available at:
https://www.legislation.gov.uk/ukpga/1998/29/contents [Accessed on: 12 January, 2019]
Matt, C., Hess, T. and Benlian, A., 2015. Digital transformation strategies. Business &
Information Systems Engineering, 57(5), pp.339-343.
Morgan, W.J., 2017. Local knowledge and globalisation: Are they compatible?.
In Globalisation, education and culture shock (pp. 49-61). Routledge.
Rufaidah, P., 2017. Branding strategy development based on innovative
behaviour. International Journal of Business and Globalisation, 18(3), pp.396-416.
Saunders, M, Lewis, P and Thornhill, A. (2012). Research Methods for Business Students,
6th edition, London: Pearson.
Soltanizadeh, S., Abdul Rasid, S.Z., Mottaghi Golshan, N. and Wan Ismail, W.K., 2016.
Business strategy, enterprise risk management and organizational performance. Management
Research Review, 39(9), pp.1016-1033.
Tmf-group.com, 2019. Challenges in Turkey, Available at:
https://www.tmf-group.com/en/news-insights/business-culture/top-challenges-turkey/#
[Accessed on: 11.5.19]
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