Project Report: Analyzing IKEA's Business Project in Romania

This report examines IKEA's business project, focusing on its entry into the Romanian market and the influence of multinational corporations. The project explores aims, objectives, and a comprehensive project management plan, including cost analysis, scope definition, and resource allocation. The report details the creation of a work breakdown structure and a Gantt chart to establish timeframes and manage tasks effectively. Furthermore, it discusses research methodologies, encompassing both qualitative and quantitative approaches, along with primary and secondary data collection methods. The analysis also covers sampling techniques, with a conclusion that emphasizes the importance of effective project management, research, and structured planning for success in a competitive business environment. The report provides a detailed overview of the project's various aspects and offers recommendations for business success in Romania.

Managing Successful
Business Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project aims and objectives for a chosen scenario.................................................................1
P2 Project management plan......................................................................................................2
P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes...................3
TASK 2............................................................................................................................................4
P4 Carry out small-scale research by applying qualitative and quantitative research methods..4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
It is necessary for business is to update and upgrade its technologies in given time
because it maintain sustainability in the large market area. While upgrading techniques, there is
requirement to manage project in effective manner. The project is based on IKEA which is
multinational group which designs and deal in ready made furniture, kitchen appliances and
home accessories. In this report, determine the influences of multinational companies on the
business environment of Romania. The main purpose of this project is to analyse the aims and
objectives of project along with project management plan that is necessary to reach with desired
business operations and functions (Awais Ahmad Tipu and Manzoor Arain, 2011). Along with
this, understand the work breakdown structure and Gantt Chart which is proceeded by
investigation methods. Therefore, the report comprise with research tools and methods along
with recommendation to analysing the impact of multinational organisation on business
environment of other nation.
TASK 1
P1 Project aims and objectives for a chosen scenario
In a economy, several organisation established to providing quality services to target
customers. In this regard, it is important for new organisations to create a impactful marketing
strategy for getting stability in new market. Major requirement of these planning are to reduce
influences of multinational organisation's. In Romania, these organisations have a large
marketing share as well as a effective customer's chain. Therefore, it is hard for a new businesses
to establish their own market in new country.
Background of the Research
This report is based in Ikea which is a Swedish founded multinational organisation which
was founded in the year of 1943 by Ingvar Kamprad (Bakker and et. al., 2011). This firm
basically deals in ready to assemble furniture, home accessories, kitchen appliances and so on.
Now the organisations wants to work in Romania which is a hub of numerous multinational
organisations. For this change, organisation needs to implement impactful strategy as well as
planning that assist them to establish their own market in new country.
Research aim
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To analyse the influence of multinational organisations on the business environment of
Romania. A case study on Ikea
Research objectives
 To analyse the concept of multinational organisation
 To understand the business environment of Romania To identify the impact multinational companies have on the business environment of
Romania.
Research question
 What is the concept of multinational organisation ?
 How to understand the business environment of Romania ?
 What is the impact multinational companies have on the business environment of
Romania ?
P2 Project management plan
For the management of a project, researcher needs to emphasize each aspects in effective
manner. These kind of activities assist in attaining business objectives and goals in effective
manner (Hwang and Ng, 2013). The planning of these projects are based on several elements as
-
Cost – These are the most important components for a project because all the
organisational activities are based on funds and capitals. In order to establish business in
Romania, Ikea needs to manage a fix amount of capital for purchasing raw material, resources
allocations and so on.
Cost budget of IKEA (Estimated):
Particulars Amount (€)
Initial investment 100000
Expenses:
Research and developmental activities 25500
Operational expenses 15600
Cost to IT experts 21500
Maintenance 16400
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Licensing fee 6000
Closing value 15000
Scope – Changes in business practices describe a vast scope for business firm. Through
this firm can attain higher business growth from the market of Romania. To maintain business
with multinational competitors, Ikea needs to implement strategic planning. These activities will
encourage business approaches through concentrating on execution of creative ideas for business
success.
Time – Ikea requires to create strategic planning in order to secure business services from
the impacts of multinational organisations (Kowalkowski, Kindström and Brehmer, 2011). Thus,
the planning practices can take a proper time period for creation to execution practices.
Quality – These aspects based on quality practices of firm that they wants to provide to
target customers. In order to attaining higher competitive advantages, Ikea needs to provides
quality products and services to their customers.
Communication – Project management plan is required for establishment of
communication medium through which employees of firm can coordinate with their seniors to
share their problems and for getting its better solutions.
Risk – For Ikea, its I required to analyse impacts of multinational organisation on the
existing business firms of Romania. Through this they can manage operational activities and can
get higher advantages.
Resources – The management of Ikea needs to analyse requirement of resources for the
accomplishment of this project. Through this they can manage funds and capital for the better
utilizations of these practices.
P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes
Work break down structure is aid to manage work of an organisation in different sections.
Main objectives of these practices is to divide major task in small crunch in order to reduce
workload from a particular person (Porwal and Hewage, 2013). On the basis of these practices,
responsibilities and roles assigned to a person who have abilities and skills to manage the work
properly. The working practices of Work break down structure is start with the as top level
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department deliverable and then further it decomposed into sub-deliverables using overall outline
of project.
Gantt chart is also a project management aspect that assist to manage all the task in
sequence formations. In this process, manager prepare a plan and execute them for its
management in a sequence. This chart is determine in horizontal and vertical formations that
defines the project timeline in a sequence, durations as well as the start and end date of particular
task. Through this researcher can identify appropriate time that are needed to finish a assign task.
These kind of aspects assist to manage a project in effective manner.
TASK 2
P4 Carry out small-scale research by applying qualitative and quantitative research methods
Research play an essential role in any project. This is used to recognise requirement and
needs of the employees. The main motive of this research is to identify the point of view and
perception of target people. There are four types of research method which are described as
under:
Qualitative method – It is the scientific method of observation which help in collecting
and gathering non numerical data (Ryan and Campbell, 2012). This is also known as primarily
exploratory investigation. This can be used for gaining an evaluating to underlying reasons,
thoughts, opinions and motivations. This will provides insights in the issues which assist in
developing ideas and hypotheses for potential quantitative research method. In addition to this,
there are variety of methods of data collection in the quantitative research that includes textual,
observations, visual analysis and interviews.
Quantitative method – This method is used to analysing and examining the relationship
between primary goals which is being analysed and present that relation should be described
through statistical analysis. Such type of research method is mainly used in scientific research
problems. This method of investigation is mainly concentrate on understanding a phenomenon
from a close perspectives. In addition to this, it is that research method which allow researcher to
analyse and examine the relationship among two variables of income revenue. The data can be
used for analysing the causes and effect relationship that can be helpful in examining predictions.
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In this project, qualitative research can be used for collecting and gathering appropriate
data and information which assist in making project in given time period. It is useful for
analysing all respondents views and opinions regarding company services and products.
Primary method – It is that method which is designed to collect and gather relevant data
for completing appropriate research. This method of investigation mainly focus on reaching with
desired goals and targets appropriately. There are various sources through which data has been
collected such as interviews, questionnaire, surveys, focus groups and observations.
Secondary method – It is that type of research which has already been gathered,
collected, complied and published by others. This includes reports and studies by government
agencies, other businesses, trade associations in the company. It is defined as an analysis and
interpretation of primary method (Sharon and Dori, 2015). This method of research assist in
gathering and collecting all relevant facts and figures in better manner. There are different
method which can be used for gathering relevant information that includes books, journals,
articles and so on.
Both research method can be used for gathering and accumulating correct facts and
figures while making investigation project in better manner.
Sampling method – It is that process which select sample people of large population.
Sampling is the statistical process of selecting some representatives from the populations which
is called as sampling on the basis of which the characteristics of the total population can be
determined. Since, the sample selected should be reflected in true characteristics of the
population where researcher must decide which of the sampling method can be used in the
project. There are two types of sampling method which includes probability and non probability
sampling techniques. In this probability sampling is that techniques in which subjects of the
population gain equal opportunity to selected as a representative. On the other hand, non
probability method is the tool of sampling where individual from the population will be selected
as a sample.
CONCLUSION
According to the above described report, it can be concluded that there are various things
that should be concentrate at the time of managing and maintaining whole project in effective
manner. Along with this, project management plan is helpful in managing entire factors of
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reports. Investigation is beneficial because it provide different people point of view. Work
breakdown structure and Gantt chart is useful for managing all task in efficient way.
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