Managing a Successful Business Project: Analysis and Recommendations

This project report delves into the intricacies of managing a successful business project, focusing on the introduction of a new product by Mark and Spencer. The report begins by outlining the aims and objectives of the project, including market analysis, social responsibility, and profitability. It presents a detailed project management plan, covering costs, resources, and potential risks such as pricing, financial, and product-related challenges. The report includes a work breakdown structure and a Gantt chart for effective project organization and time management. Furthermore, it explores research methodology, including research philosophy, approach, and design, emphasizing the use of deductive and descriptive research designs. Data collection methods, including primary and secondary sources, and data analysis techniques, particularly qualitative analysis using questionnaires, are discussed. Finally, the report provides recommendations for project success and concludes with a reflection on the overall project management process.

Managing a Successful Business Project

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1. Aims and objectives..............................................................................................................3
P2. Project management plan .....................................................................................................3
P3. Work breakdown structure and Gantt chart .........................................................................5
LO 2.................................................................................................................................................9
P4. Research methodology .........................................................................................................9
LO 3...............................................................................................................................................11
P5. Analysis of research and data using tools and techniques .................................................11
P6. Recommendations...............................................................................................................21
LO 4...............................................................................................................................................22
P7) Reflection............................................................................................................................22
CONCLUSION..............................................................................................................................22
REFERENCES..............................................................................................................................24

INTRODUCTION
Globalisation can be defined as a process by which organisations expand its business
internationally. Globalisation has resulted in huge competition in a market. Cultural awareness,
global economic interdependency and international cooperation(Meredith and et.al., 2017). The
study will cover the aims and objectives of a company in order to introduce new product in
market. It will also explain performance management plan which is used by a company in order
to plan for various type of resources such as physical, human, financial and other type of
resources. The study will also highlight various risk which is associated while planning for
entering in new market. The cost required to complete a project and what type of communication
method a company can use in order to promote its product in new market and to attract and form
a strong customer base has also been explained. Work breakdown chart and Gantt chart has also
been explained in a study. Various tools and techniques which are essential for conducting a
research has also been highlighted. The study has taken use of questionnaire in order to analyse
data and market trend properly.
LO 1
P1. Aims and objectives
Aims : To determine challenges and opportunities in global market for summer shoes by Mark
and Spencer.
Objectives :
To launch shoes in a new market by understanding the demand and current trend of market
To make company socially responsible
To know the currents trend in a market
To increase profit of the company
Research questions
What are the opportunities of Mark and Spencer in new market
What activities will help company to create socially responsible image
What measures can company take increase profitability
P2. Project management plan
Cost : A huge investment in required in order to introduce new product in the market. Therefore
it become important for a company to raise the fund properly and manage it successfully. Cost is

an important element which a company has to properly plan and use it in order to introduce a
new product.
Material Cost
Research and development
Inventory
Manufacturing cost
Human resource
Packaging expenses
Advertising cost
$ 25,000
$ 50,000
$ 15,000
$ 10,000
$ 20,000
$ 20,000
Research and development : Before launching a new product in a market it become essential to
properly analyse the market in order to mitigate the loss of product failure.
Inventory : In order to run the process smoothly it become essential to have the proper supply of
inventory.
Manufacturing cost : In order to manufacture the shoes technological equipment, mechanical
equipment as well as proper supply of power and electricity is essential.
Packaging expense : The product packaging should be such that which attracts the customer
towards its products(Meredith and et.al., 2017).
Advertising cost : In order to create brand awareness among people and promote the product to a
large number of audience it become necessary that various different platforms such as socila
media, print media, television radio etc., can be used in order to promote the product.
Time : Time represents that how much time will be taken in order to complete a specific task
and specific project. All the activities should be completed within the specific time so that
project can be completed on time. The activities should be allotted a time which is measurable.
Quality : The product should be of good quality. The company should try to launch a shoes of
better quality so that the customer can gain trust and loyalty of customers.
Communication : A successful marketing communication will help business to reach a wide
variety of customers and successfully convey its message. Mark and Spencer can use various
marketing tools such as emails, websites, television advertisements, promotional campaign,
brouchers, social media and can also use print media in order to introduce shoe in a market.
Risk : the risk which is involved in launching a shoe new market are

Pricing risk : It is not necessary that the pricing strategy which the company is using in current
market is right for other market also. The reason behind this is that many factors affects the
purchasing behaviour of customers such as culture of particular country, economy of country,
trend, lifestyle etc.
Financial risk : A company needs to invest a huge investment on expanding the business in other
market. A huge investment is required on marketing activities as the company has to put huge
efforts and cost to attract customer and form a strong customer base in new market.
Product risk : The company face the problem of explaining about their product to customers. It is
important that a company should rightly introduce or launch its product in new market.
Resources :
Physical resources : Physical resources include raw materials, vehicles, storage facility,
buildings, machines and factory(Heagney, 2016). Raw material such as ethylene vinyl acetate
(EVA) and polyurethene is required. KEVLAR is a product which is made up of organic fibre.
Human resource : A labour is required for the production purpose and a skilled and
knowledgable employees are needed who have proper knowledgable about the know and how of
shoe company as well as of the market which company wants to enter. In order to be successful
in a new market the company can hire employees from a particular market it will help company
to have more broader view of a company.
Intellectual resources : The company should make use of various intellectual resources such as
copyrights, customer databases, partnerships, patents etc. The company should make use of
intellectual right which will help the company to protect its the way in which business do its
work.
Monitor progress : In order to see the progress of a plan it becomes essential to monitor the
project continuously. Online project management tools such as proof hub, liquid planner, base
camp etc., can be used in order to see the success of a project.
P3. Work breakdown structure and Gantt chart
Work breakdown structure : The work breakdown structure helps company to break project
into small activities. It helps in doing work more efficiently. It is a hierarchical tree structure
which breaks project into various small activities which make it easier to be managed. The main
purpose of project is to make large project more manageable. The breaking down of project helps

in assigning the different activities to different team which helps in increasing product of a team
and easily managing the project.

Time scale gantt chart
Gantt chart : It is a graphical tool which is use to show activities and task which is performed
against time. This chart is also known as visual presentation of project(Definition of 'Gantt chart'
, 2019).
Both work breakdown structure and Gantt chart helps in breaking down of project into
small activities so that project can be completed successfully.
Task Mode Task Name Duration Start Finish Predecessors
Auto
Scheduled Generation of new idea 2 days Mon 09-09-
19 Tue 10-09-19
Auto
Scheduled Screening of generated 12 days Wed 11-09-
19 Thu 26-09-19 1
Auto
Scheduled marketability test 11 days Fri 27-09-19 Fri 11-10-19 1,2
Auto
Scheduled
Determination of need
of customers 8 days Mon 14-10-
19
Wed 23-10-
19 3
Auto
Scheduled
Analysis of latest
technology 10 days Thu 24-10-19 Wed 06-11-
19 3,4
Auto
Scheduled Product development 11 days Thu 07-11-19 Thu 21-11-19 5
Auto
Scheduled Product Launch 12 days Fri 22-11-19 Mon 09-12-
19 6,5

Auto
Scheduled Completion of project 4 days Tue 10-12-19 Fri 13-12-19 7
Network diagram
LO 2
P4. Research methodology
It refers to the procedures or tools that are used to determine, select and examine the
information related to a particular topic. The methodology helps to study the overall creditability
and reliability. Research methodology is an effective plan that helps the researcher to conduct the
research in more effective manner (Kumar, 2019).
Research Philosophy -
It refers to the belief regarding the ways in which researcher will collect the data in
related with phenomenon. It includes the way in which data will be collected, analysed and

utilized in during the process of research. Research philosophy deals with the characteristics,
origin and development of the knowledge. There are four types of research philosophy firstly,
Pragmatism that considers the concepts as important only when they support the action. Other is
Positivism, it depends upon the view that only the knowledge that consist of factual data is
gained through observation is trustworthy. Another is Realism, that is based on premise of
scientific method for development of knowledge. Next is, Interpretivism that is based on
assumption that reality can be access only through social interaction.
The Researcher chooses Interpretivism Research Philosophy because, it helps to focus on
different methods for analysing various aspects of the problem.
Research Approach -
It refers to the plan that involves the approaches of collecting, examining and interpreting
the data. Generally, there are three types of research approach firstly, Deductive Approach in
which Researcher constructs hypothesis on the basis of theory and then to test hypothesis
research strategy is developed. Next is Inductive Approach, in which at initial stage of research
no hypothesis would apply. At Last, Abductive Approach in this researcher choose proper
explanation from various options to describe facts that are identified at initial stage of research
process (Litosseliti, L. ed., 2018).
From the above approaches, Researcher chooses Deductive Research Approach because
it helps to measure different concepts in precise manner. Also helps to determine the best
outcome of the study.
Research Design -
Research Design refers to different methods for collecting and analysing the data. It can
be explained as a plan that in respect of strategies researcher will use for finding solution of
research questions. Basically, it is of two types firstly, exploratory Research Design that aims to
develop insights in respect of a particular area of the research. Another one is Conclusive
Research Design that helps the researcher to select a better course of action and aims to confirm
the insights (Liamputtong, 2018).
Among all, Researcher chooses Descriptive Research Design under Conclusive Research
Design because it helps the Researcher to incorporate both the methods of collecting data that are
quantitative and qualitative methods. Also helps to explain the findings of the research.
Data Collection -

It is a procedure of assembling data from different sources to find out the outcome of
research problem, to test the assumptions and to measure the outcome. There are two methods of
data collection. Primary method of data collection, under this researcher collects the data for first
time. It is further divided into quantitative and qualitative methods (Silverman, D. ed., 2016).
Another is Secondary data collection method, under this researcher collects data from various
sources like magazines, website, Government journals etc.
The Researches used Primary as well as Secondary data collection methods for achieving
the aims and objectives of research study.
Data Analysis -
It is the process of examining, improving and modelling the data with the aim of
discovering additional information and to promote effective decision-making of the Researcher.
There are mainly two types of Data Analysis such as Qualitative data analysis, under this
researcher uses focus groups, interviews and experiments etc. Another is Quantitative data
analysis that involves calculating frequency of variables (Flick, 2015).
From the above, Researcher chooses Qualitative data analysis in which questionnaire is
being used for getting effective results and it also helps to attain aims and objectives of research.
Sampling -
It is a method in which researcher chooses some people from a large population that will
be included in conducting research study. It is of two types such as Probability sampling, in
whiich every member has chances of involvement in study. Non-probability sampling, only few
people have chance to participate in study (Georgii-Hemming, E. and Johansson, 2019).
Researcher chooses Simple Random Sampling method under probability sampling. Under
this, 20 regular buyers have been selected randomly to assist the researcher for conducting the
study in effective way.
Ethical consideration -
It is one of the important element of research. There are different principles related with
ethical considerations such as -
 Adequate level of protection of the participants of research must be ensured.
 Full consent of the participants should be obtained before conducting the study.
 Researcher must ensure the privacy of participants of the research.

 Communication related with the study should be perform by researcher in transparent
manner and honesty (Harris, H. and Sandhu, 2017).
LO 3
P5. Analysis of research and data using tools and techniques
In order to do the analysis the market on aspects of challenges and opportunities with particular
market 20 managers of different marketing were asked to fill questionnaire.
Theme 1 : To have an idea of pricing strategy which will best suit to enter in new market
Particulars Frequency
Competitive pricing strategy 8
Price skimming 4
Geographical pricing 8
Total 20
Low pricing strategy
Price skimming
Geographical pricing
0
2
4
6
8
10
Column B
Interpretation : 8 out of 20 respondents feels that geographical pricing will be the best pricing
strategy which should be used by Mark & Spencer in order to enter new market. While again 8
out of 20 respondents thinks that competitive pricing strategy will be best for the company. And
4 of the respondents thinks that price skimming will be the best way in order to enter new
market. However it can be seen that majority of managers is of view that graphical as well as
competitive pricing strategy will be best to enter new market. The main reason behind the view

of using competitive pricing strategy is that currently company is using same pricing strategy and
it will help company to avoid any type of risk from price competition.
Theme 2 : risk which company has to face while entering a new market
Particulars Frequency
Cultural risk 5
Regulatory risk 7
Market risk 8
Total 20
Cultural risk
Regulatory risk
Market risk
Interpretation : 8 out 20 respondents thinks that market risk is the major risk which almost
every company has to face who want to expand its business internationally. While 7 respondents
thinks that as the company spreads its business in various countries as a result the change in
countries government rules and regulation may create a huge impact on working of the company.
5 respondents feel that cultural risk can be a huge barrier for the company in order to hold
position in market.
Theme 3 : Is launch campaign is good way of creating brand awareness.
Particulars Frequency
Yes 12