A Comprehensive Report on Managing Successful Business Project

This report, focusing on managing a successful business project, begins with an introduction to globalization and its impact on businesses, particularly the fashion industry. It outlines the aim and objectives of launching a new summer product, along with a detailed project management plan covering...Read More

MANAGING
SUCCESSFUL BUSINESS
PROJECT

Table of Contents
MANAGING SUCCESSFUL BUSINESS PROJECT...................................................................1
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Aims and Objectives.........................................................................................................3
P2 Project Management Plan..................................................................................................4
P3 Work breakdown structure and Gantt chart......................................................................5
..........................................................................................................................................................6
LO 2.................................................................................................................................................6
P4 Research methodology......................................................................................................6
LO 3.................................................................................................................................................8
P5 Data analysis and interpretation........................................................................................8
P6 Conclusion and recommendations..................................................................................14
LO 4...............................................................................................................................................16
P7 REFLECTION................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Background
Globalisation is defined as ongoing process which is linking people on the continuous
basis which may include people, regions, cities, countries etc, which are coming closer than ever
before. Due to the process of globalisation, entire world has turned in the global village and has
resulted in the transfer ideas, knowledge, skills, people, products and services as well (Bailey,
Jones. and Rosenbaugh, 2018). Globalisation is not a new process but has accelerated quickly
after the second world war and it has been successful in changing the lives of the people across
the world. This has majorly lad effects on the environment, governments, cultures and companies
as well.
Globalisation can help the companies in expanding the business by joint venture, which
will mitigate the competition. Cultural awareness is also the result in which the culture of various
nation is known. It helps in cooperation between companies. It also helps in improving the
relationship among countries. The economies of the nations become interdependent because of
the Globalisation. Selling can be done in large scale and also marketing can be done on the large
size of the nation spread across various nation. Globalisation create more opportunities for a
business to grow and expands its business.
LO 1
P1 Aims and Objectives
Aim
The aim of the Large Fashion company is:
“To prepare and implement a project management strategies for launching a new summer
product”.
Objectives
The objectives of the Large Fashion company are as follows:
 To prepare a project management strategy for completing the project on time.
 To analyse the competition in the market by which testing of the product can be done
before launching the new product in the market successfully.
 To develop strategies for optimising the product sales at the launch event.

P2 Project Management Plan
The Project Management Plan is a document on which every phase of the project and the
future action to be taken on the research are described in detail. There are various factors are
covered such as cost of the project, time taken to complete the research, etc.
Cost
Here for the research report the plan will include the cost of the product which is going to
be 2000 ponds as a budget (Larson. and Chang, 2016). The funds are going to be arranged from
taking loan form micro finance bank.
Scope
The scope in the future that will be included in the plan is going to be its demand in the
future. In the scope the analytical method used will be Regression Analysis and this method will
be used in order to do analysis of the targeted audience and planning deadlines of the new launch
of the product.
Time
The time taken to complete the project will be two days in which the researcher will do
deep analysis of the market from online as well offline sources.
Quality
In the plan the quality of the research will be given special importance in which the
reliable source will taken for the study of the research in which the sources will be used such as
LexisNexis and Info Trac in order toe increase the quality of the report.
Communication
Communication will be used in the plan via PPT presentation and graphic and video
presentation by using verbal communication.
Risk
The various risk included in the plan will be the financial risk in which the risk related to
investing in wrong sources will be considered and the other financial risk considered will
considered is investing in the software that the software may or may not work. The risk that will
be included in the plan will be strategic risk in which the strategy made will work or not for the
new product launch will be considered (Tidd. and Bessant, 2018). The last risk that will be
included in the plan will be the Time risk in which the timely completion of the report will be the
risk.

Resources
Resources that will taken in the plan will be Human resources as a team of 5 members,
technical resources in which the software such as MS excel and MS word will be used.
P3 Work breakdown structure and Gantt chart

LO 2
P4 Research methodology
Research methodology is the set principles which are used to identify, process, select as
well as analyse the information which is about a topic. In the research methodology research
allows the reader to do critically evaluation of the data and reliability of the data. There are two
important questions which are addressed in the research methodology and are how the data was
collected and how the data was analysed.
RESEARCH PHILOSOPHY
It is a phenomenon in which the belief is about how the data is gathered, then analysed an
then used. There are two methods used in the research known as interpretivism for the qualitative
research in which the research depends upon researcher which is trained and human subjects that
are instrument. The other method is the positivism method is for the quantitative research which
recognise which is verified scientifically and with mathematical proof. Here in the research
interpretivism is used because for the new launch of the product it will help in doing deep
analysis of the market and also helps in understanding the complex data.
Research Approach
This is the procedure by which methods which are detailed for the data collection as well
as interpretation of the data is done. There are two methods for the approach. Inductive approach

is used for the observation as well as theory usage. It is a qualitative method of research. The
other method used for the research is the Quantitative research approach known as Deductive test
in which hypothesis is used for the data and then collection as well as analysis of the data is
done. Here the approach used is the Inductive approach because this approach will help in doing
further investigation of the data and the data is reliable under this approach (Kumar. and
Yakhlef, 2016). This method is also useful for understanding the various behaviours of the
customers by which the the similar variant of the product can be driven to them based on the
profile of the customers.
DATA COLLECTION
The study results greatly depends upon collection of data and the way it is analysed and
interpreted. Data collection can be of primary and secondary type. In primary data collection data
is collected by researcher through methods such as questionnaire, interview and survey. With the
help of primary data collection it is possible for the researchers to analyse the latest trends which
are helpful for drawing relevant conclusions (Leung, 2015). Contrary to this in secondary data
collection methods secondary data sources such as books, articles, journals and literature sources
of other researchers are used. Secondary data collection provides strong evidences and in-depth
perspectives of various dimensions of the issue. In this study primary data collection through a
questionnaire is used so that the target customers participating in London fashion week can be
approached and more realistic data can be collected.
SAMPLING
The selection of large population size for the primary data collection makes research less
feasible and time consuming. Thus a small section or population size is chosen for the study and
it called as sampling. Sampling is of two types probability and non-probability sampling. In
probability sampling participants are chosen randomly so that each individual have equal
probability of getting selected (Hair Jr and et.al., 2015). On the other hand in non-probability
sampling participants are chosen on the basis of specific criteria for the study purpose. In this
study simple random sampling is used and 20 participants taking part in the London Fashion
week are chosen for collecting data. The use of this sampling approach in this study helps to
conduct a more precise and less bias outcomes.
DATA ANALYSIS

Data analysis is defined as the approach to analyse and interpret the collected data. There
are various techniques for analysing different types of data. The quantitative data is usually
analysed by statistical tools such as SPSS, mean mode and other statistical tools while qualitative
data can be analysed using systematic review or thematic analysis (Patten and Newhart, 2017).
The use of statistical tools is beneficial for the studies which aims to derive mathematical
relation between several study variables. In this study thematic analysis is used. The use of
themes for the data interpretation is beneficial in exploring a central theme and a summarised
conclusions on the basis of data.
ETHICAL CONSIDERATION
For enhancing the accuracy and efficiency of the research it is important that ethical
aspects must also be taken into account. While conducting data the formal consent of the
participants is necessary. All the study participants must be informed about purpose and methods
of conducting study so that they can freely provide consent. It is also the responsibility of the
researcher to assure that privacy and safety of the sample population must be protected (Palinkas
and et.al., 2015). The participants must also have right to withdraw from the study at any instant.
Another important ethical consideration in the study is that dignity of the participants must be
respected. Thus no harm must be caused to the individuals during any stage of the research.
LO 3
P5 Data analysis and interpretation
Theme 1: Products used of Adidas
Yes 15 75%
No 5 25%

Interpretation: 75% respondents have viewed that they have purchased and used Adidas
products, as it is well known brand and its products are easily available in the market hence most
of the people have used its products. On other hand 25% answers have replied that they have
never experienced products of Adidas. From the above data it can be interpreted that maximum
people have experienced the products of that company that reflects that people are satisfying
with the products of business hence if entity offer new product to consumers then they may make
up their mind to buy products of the Adidas.
Theme 2: Adidas's existing product range is comfortable for summer season
Strongly agree 4 20%
Agree 10 50%
Neutral 4 20%
Strongly disagree 2 10%

Interpretation: From the above data it can be interpreted that 50% respondents have viewed that
they are agreed that existing products of Adidas are comfortable as people can use such items in
summer season easily. On other hand 20% answerers are neutral on it as they have no specific
comments on it they said sometimes it is good whereas sometimes it is not.10% respondents
have said that they are strongly agree with this point that company’s products are comfortable.
From the above data it can be interpreted that products offered by Adidas are comfortable, as
entity always ensures that it products comfortable and quality shoes and other materials to its
potential buyers. That is the reason that number of consumers of company are high and they are
satisfied with the products of Adidas.
Theme 3: satisfied with the product quality of the company
Yes 12 60%
No 6 30%
Not sure 2 10%

Interpretation: From the above data it is found that 60% respondents have viewed that yes
quality offered by Adidas is satisfactory, company always takes are f quality required by
consumers and offer them the same. Whereas 30% answers have said that no product quality of
Adidas is not that much satisfactory, they have viewed that there are many brand those who are
offering high quality products to consumers. From the above data it can be interpreted that most
of the people are satisfied with the quality of its items. Hence Adidas’s products are of high
quality which fulfil needs of consumers and they like to spend money to experience its products
and services to great extent.
Theme 4: awareness of the Adidas's new summer shoe launch
Yes 7 35%
No 11 55%
Not sure 2 10%

Interpretation: From the above data it is found that 55% respondents are replying that yes they
have knowledge about new product launch of company. Whereas 55% answers have said that
they are not aware with the Adidas’s new summer shoe launch. It can be interpreted that most of
people have lack of knowledge about this new product launch of company, if enterprise is unable
to raise awareness among people about its new product lunch then it would not be able to raises
sales of its new summer shoe. People like to buy products when they have all the detail about
particular item but if they have no knowledge then they will not spend their money which will
hamper sales of business unit to great extent. Hence it is very important for Adidas that to
enhance awareness of people about new product lunch so that they take interest in buying that
product.
Theme 5: product attribute attracts you the most to buy new summer shoe from the company
Price 3 15%
Quality 8 40%
Design 4 20%
Comfort 5 25%

Interpretation: From the above detail it is found that 40% respondents have viewed that quality
is the major factor that is looked by people before buying any products from the company.
Before spending money on new summer shoes people like to look at quality of shoes. On other
hand 25% answers have replied that comfort is the factor that can attract people, if company is
offering comfortable shoes to users then they will defiantly make their mind to buy it. Whereas
20% respondents have said that design matters a lot if designing of shoes is good then people
will buy it. From the above data it can be interpreted that quality and comfort are considered as
most essential factors that must be considered by Adidas while new product development, if
enterprise provides quality summer shoes and it ensures comfort level of users then it would be
able to gain attention of buyers which will be beneficial for business to raise sales of its new
products.
Theme 6: company launches it products on time to attract customers
Strongly agree 12 60%
Agree 5 25%
Neutral 1 5%
Disagree 1 5%
Strongly disagree 1 5%

Interpretation: 60% respondents have replied that they are strongly agreed that Adidas attracts
people by launching its products, product launch is the big event which enhances awareness of
people and they get to know about its new products which supports in influencing their mind to
buy that new product. On other hand 25% answers have said that they are agreed that company
launches it products on time to attract customers. Whereas 5% respondents are not agreed with
this point. Hence from the above data it can be interpreted that launching a new product can help
business in attracting new consumers. It gains attention of people and also support business in
gaining competitive advantage. Hence it enterprise plan to develop a new product and aims to
raise its revenues then it will require to organise such product launch event which can support in
attracting people and making them ready to spend money on this new product.
Theme 7: launching of new product will be a huge success
Strongly agree 10 50%
Agree 6 30%
Neutral 1 5%
Disagree 2 10%
Strongly disagree 1 5%

Interpretation: It is found that 50% respondents have viewed that they are strongly agreed that
by launching that new summer shoe product company can gain success, as it would be beneficial
in attracting people and making them aware with the amazing feature of that new product which
will influence mind of consumers and they will like to spend to buy products of business unit.
Whereas 30% answers are saying that they are agreed with this point that lunch of new products
can give success to Adidas. On other hand 10% answers are disagreed that no it is not possible to
gain success by lunching new products. From the above data it can be interpreted that lunch of
new products enhance awareness among all users, they will get to know unique features of
summer shoe offered by Adidas. This will enhance their interest and they will think to spend
money to buy that particular items. After from this, lunch of new product help business in
creating unique image which will help in gaining competitive advantage as well. Hence by
launching new product Adidas can raises sales and can gain competitive advantage which will
give success to business unit.
P6 Conclusion and recommendations
Present report concludes that most of the customer are using the products of Adidas so, it
can be a huge opportunity for the company to launch a new product in the London Fashion
Week. Also majority of customers of the company have agreed with the fact the Adidas's
existing product range is comfortable for the customers so, it can prove a huge opportunity for
the company to develop a product which is comfortable for the customers. By introducing a
comfortable summer shoe to the customers can result in increase in the sale of it in the future.

This can prove the best strategy for the company for launching a new summer shoe in a fashion
week. It can also be concluded by analysing the data that majority of customers of the company
are satisfied with the quality of the company's product. Which means that customers believe in
the quality of the which can prove a key for the success of the company. It is important for the
company to focus on the its quality and develop a summer shoe which is of higher quality. Also,
quality is also referred as the basic need for the customer which is important for the company to
meet up this need. It can also be concluded that one of the major attribute which a company has
to focus on is the quality of the products which is followed by the comfort. So, this can also
prove to be an important strategy for the company in launching a new product. Also, majority of
the customers believe that company has been successful in launching of its products on time
which has lead a strong impression on the customers perception. So, it can be said that by
making a timely launch of the new summer shoe can prove to be competitive advantage for the
company. Present report also concludes that majority of customer believe that launching of new
summer shoe will prove to be success for the company which is really important for the
company.
RECOMMENDATIONS
 It is important for the company to develop a product which is higher in quality standards
which can prove to be success of launching of the the product in the London Fashion
Week. With the increase in the quality standards can attract the customers towards the
product.
 It is also recommended for the company to produce a product which is of highly
comfortable for the customers. As company is offering a summer shoe so it should be
comfortable for the customers.
 Also. Company should focus on the quality of its products as customers are willing pay
higher for the product which are good in quality.
 Adidas should also make a timely launch of its new product which is on 16th of
November. So, it is important for the company to be prepared for it.
 Also, it is recommended that company should focus on the marketing strategies which
can help in attracting the customers towards the product.

LO 4
P7 REFLECTION
While conducting research on summer shoe project, I have realized that researcher is
required to take care of scheduling the task, if activities are not designed in proper manner then it
may cause issue in project as it will not get completed on time. Apart from this, I have learnt
about uses of work break down structure and Gantt and how to apply these things in research
project. I got to know about various research methods that are useful in conducting qualitative
studies. I learnt about research philosophies, approaches and various data collection methods
alone with their suitability in research. This research has developed my communication skill to
great extent, earlier I felt so nervous whenever I communicate with any unknown person but as I
had to coordinate with respondents hence my interaction ability has been developed greatly.
Furthermore, this study has improved my technical knowledge as well, I learnt about use of excel
and preparing graph on it. This research project has been important for me and it was equally
important for me to meet the aims and objectives of the project which were set at the beginning
of the project. Also I faced various challenges while completing the project, which I had to
overcome in order to complete the project. One of the major challenge which I faced was to get
the questionnaire filled from the respondents while focusing on the objectives. Another major
challenge which I faced was the time frame which was set for the project, as I need to have to
complete the project on time. This was the challenging factor me to which is faced while
completing the project. But I was able to overcome these challenges and I planned well which
helped me to complete the project successfully on time.