Report: Globalization Impact on Business Functions

Table of Contents

P1 Device project aims and objectives

P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion

P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives

P5 Analyse research and data using tools and techniques

P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusion

P7 Reflect on the value of undertaking the research to meet stated objectives and own learning performance

Reference List

 

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P1 Device project aims and objectives

Introduction

The globalisation has created a major impact on the business process of every organisation. It has been evident that there are several benefits of globalisation such as technology, competition, capital flows, employment, organisation structure and others (Nehra and Singh, 2017). In addition, the globalisation has also helped every business organisation to expand its business process within the global market. On that note, a company will also be able to build a competitive position within the global market with the help of globalisation (Blohmet al. 2016). Moreover, the globalisation has also helped business firms to expense minimum costs for producing maximum products. In the same context, the globalisation has positive as well as negative impact on the business process of every firm. A small firm will also be able to give a tough competition to a multinational company with the help of globalisation. On that note, the aim of this project is to develop project aims and objectives for the company SD fashion. The company is a small business start-up fashion company located in India. However, the company has decided to expand its business at Old Street, London. Therefore, the purpose of this research project is to evaluate the positive effect of globalisation for the SD fashion in order to expand its business in London market. Moreover, this research also highlights a project management plan for the company SD fashion. 

Aim of the project:

The aim of this project is to evaluate the positive impact of globalisation on SD Fashion Company (start-up) for entering into the London market.

Objectives of the project: The objectives of the company SD Fashion are:

  • To enhance its business process within the London market.
  • To increase the sales rate.
  • To create brand awareness among the people of London.
  • To provide good quality products to the customers.

P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources

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It is very important for the company SD fashion to create a plan of the project before entering into the market of London. Moreover, it is also very important for the firm to analyse the size and growth of the market before entering into it. In the same context, a project plan is one of the most important documents that must be created while starting a new business project.

Project overview

Planned outputs 

Outcomes 

Objectives

The aim of SD Fashion is to enter into the London market by using the positive effects of globalisation (Crane and Matten, 2016). 

Increase sales rate

Enhance business process

Enhance business process

Increase sales rate

Creating brand awareness

Providing good quality products to the customers.

Project performance:

scope

It is the part of project planning which includes costs, tasks, deadlines, specifications, functions, goals and features of the project. In this project, the organisation SD Fashion will enter into a new market with the help of market expansion strategies. The market expansion strategies will help the firm to enhance its business process by using the positive effects of globalisation (Demetriou, 2018). In addition, this strategy will also help the company to create brand awareness among the customers. Moreover, in order to attract the customers, the company must provide good quality of products. 

Time

In order to complete this project, the time allotted by the project sponsor is maximum 12 weeks. 

Cost

The initial cost of the project was arranged by the project sponsor is approx £60000.00

Quality 

The project includes several factors such as customer satisfaction, process improvement, involvement of the project delivery team, relationship management, leadership and others. The project quality is mainly maintained and decided by the stakeholders, owners and clients (Erdélyi, 2015). Therefore, the organisation SD Fashion must produce good quality of products in order to satisfy the customers. Moreover, in order to attract the customers, it is also very important for the employees of the company to produce good quality of products. Furthermore, in order to complete this project, the project manager must follow the process of project quality such as project quality management, quality control and assurance of the project quality. 

Communication 

Communication is very important for the development of every organisation. The project manager must use an effective communication skill in order to communicate with the project team (FLICK, 2011). Therefore, the company SD Fashion must implement an effective communication strategy in order to deal with the stakeholder, clients and investors. In the same context, with the help of communication skills, the employees of the firm will be able to communication with each other in an effective way. Moreover, the Manager of SD Fashion must use an effective communication skill in order to communicate with the employees. This will help the firm to identify and satisfy the needs of the employees.  

Risk

The risks that are associated with this project are as follows:

  • Lack of resources for completing the project.

  • High turnover of the project team members.

  • Poor performance of the project team.

  • Poor relationship between the Project Manager and the customers.

  • Poor quality.

  • Optimistic schedule.

  • Failure of the contract.

  • Lack of money for project completion.

  • Lack of technology.

Resources

The basic requirement of the resources for completing a project such as team, tools, finance, time and technology (Kaiseret al. 2015).

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P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion

Diagram 1: Work breakdown structure

(source: created by self)

Activities

W 1

W2

W3

W4

W5

W6

W 7

W 8

W 9

W10

W11

W12

Set Project Aims and Objectives

            

Defining Project Scope, Risk and Resources

            

Market Research

            

Data Collection

            

Data Analysis

            

Conclusion and Recommendation

            

Report writing

            

Diagram 2: Gantt chart

P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives

Research methodology

This research is mainly based on the two methods such as quantitative research and qualitative research. Therefore, the deductive4 research approach will be appropriate for this project. In addition, the deductive research approach is appropriate because this research is mainly based on the existing evidence of the corporate governance and the customers. Moreover, the descriptive research design will also be appropriate for this project as the topic of this research is the impact of globalisation on SD Fashion Company. Furthermore, the data will be collected from the survey questionnaire and an interview session with the managers.

Quantitative data collection

The quantitative data will be collected by conducting a survey with 35 customers. In the same context, the survey questionnaire approach will be an effective approach for collecting the quantitative data as it can be applied for a wider range of population. 

Qualitative data collection

The qualitative data will be collected by conducting an interview session with the managers. In addition, the face-to-face interview will be an effective method for collecting the qualitative data as the recorded interview can be used for the evidence. 

Quantitative research

Survey Questionnaires for 35 customers within an age group of 18-45 in London

Q1. How far do you agree with the fact that globalisation is the key to changing trends within the fashion industry of London?

 

Options 

Response percentage

Number of responses 

Total number of respondents

Strongly agree

37%

13

35

Agree 

34%

12

35

Neutral 

14%

5

35

Disagree 

9%

3

35

Strongly disagree

6%

2

35

Table 1: Fact of globalisation agreed by the customers

 

Figure 1: Fact of globalisation agreed by the customers

Analysis 

 

From the above chart, it has been observed that 37% of the customers have strongly agreed with the fact that globalisation is the key for changing trends within the fashion industry of London. It has been evident that due to globalisation, a small firm will be able to enhance its business process in an effective way. 

 

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Q2. Which among the following factor do you considers impacting the changing fashion sense of citizen in London?

Options 

Response percentage

Number of responses 

Total number of respondents

Culture 

23%

8

35

Design 

14%

5

35

Social media

43%

15

35

Innovative trends

14%

5

35

Others 

6%

2

35

 

Table 2: Factors of changing fashion trends

Figure 2: Factors of changing fashion trends

From the above chart, it can be illustrated that 43% of the customers have considered social media is the changing fashion sense of citizen in London. With the help of social media, a small firm will be able to promote its brand within the global market. 

Q3. How far are you satisfied with the fact of increasing demand of Indian attire at global context?

Options 

Response Percentage

Number of responses 

Total number of respondents

Strongly satisfied

37%

13

35

Satisfied

29%

10

35

Neutral 

14%

5

35

Dissatisfied 

14%

5

35

Strongly dissatisfied

6%

2

35

Table 3: Increasing demand of Indian attire 

Figure 3: Increasing demand of Indian attire

From the above graph, it has been identified that 37% of the people have strongly satisfied with the fact that Indian attire is one of the increasing demand at global context.

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Q4. Which among the following do you recommend as a strategy for a start up fashion firm to implement while getting established in London?

Options 

Response percentage

Number of responses

Total number of respondents

Adapting changing trends

14%

5

35

Innovative designs

23%

8

35

Product quality

43%

15

35

Affordability 

14%

5

35

Others 

6%

2

35

Table 4: Recommendation of a strategy

Figure 4:Recommendation of a strategy

From the above graph, it has been evident that 43% of the customers have recommended the product quality as a strategy for a start up fashion firm to implement while getting established in London. It is very important for a small business firm to produce good quality products in order to attract the customers. 

Qualitative research

Interview Questions for 2 different Fashion Executive of Fashion Industry in London

Q1. Do you think that globalisation is an effective medium to start a small business in fashion industry?

 

Executive 1

Executive 2

Yes, globalisation plays a vital role for an organisation in order to enter into a new market. I believe that with the help of globalisation the company SD Fashion will be able to enter into the London fashion market in an effective way”. 

“Yes, I also think that globalisation will help a small start-up firm to expand its business process within the global market. However, there is some negative impact of globalisation. Therefore, I suggest every small firms must stay aware of their global approach made for attracting customer.”. 

 

Analysis From the above interview, it has been observed that both the executives have accepted with the fact that globalisation will help a small business start-up to expand its business in an effective way. Moreover, with the help of globalisation, a small business firm will also be able to give a tough competition to a multinational company.

 Q2. What according to you is the best service that the start-up industry must provide to the customers?

 

Executive 1

Executive 2

“According to me, a start-up fashion industry must focus on the quality of their products. It has been evident that the customers always demand high quality of products. Therefore, I think the small business firms must provide good quality of products in order to attract the customers”.

“According to me, a small fashion company must bring out some innovative designs within their products. By designing a new innovative design a small firm can attract the customers towards their products”.

Analysis 

From the above interview, it has been evident that both the executives have accepted with the fact that a small start-up fashion company must produce high quality products in order to satisfy the customers. Moreover, it is also very important for a small company to design some innovative products for attracting the customers.

 

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P5 Analyse research and data using tools and techniques

In this project plan, the data has been collected from both quantitative research and qualitative research. The qualitative data has been collected by conducting an interview session with the two executives. In addition, the quantitative data has been collected by conducting a survey session with 35 customers aged between 18-45 in London. By selecting a sample size for the survey, the project manager will be able to understand the behaviour of the customers towards the Indian attire in London. Moreover, with the help of this survey session, the project manager will also be able to analyse the impact of globalisation for a small business start-up to expand its business. In addition, the globalisation has also helped every business organisation to expand its business process within the global market. On that note, a company will also be able to build a competitive position within the global market with the help of globalisation. Moreover, the globalisation has also helped business firms to expense minimum costs for producing maximum products (Kendrick, 2015). Moreover, there are three types of globalisation such as political globalisation, social globalisation and economic globalisation.In this project, the project manager has used the purposive sampling. The purposive sampling is a non-profitability sample which must be selected on the basis of population characteristics and project objectives. In the project management plan, the work breakdown structure and a Gantt chart has been used in order to complete the project within a limited time frame (Parket al. 2015). For analysing the purposive sample, the researcher has used the quantitative data analysis and qualitative data analysis. With the help of these two analyses, the researcher will be able to analyse the behaviour of the customers and also an interview session with the two executives.    

P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusion

This is globalization impact on business functions report sample From Topicwize

From the above charts and graphs, it has been evident that 37% of the customers have strongly agreed with the fact that globalisation is the key for changing trends within the fashion industry of London. It has been evident that due to globalisation, a small firm will be able to enhance its business process in an effective way. In addition to this, it has also been illustrated that 43% of the customers have considered social media is the changing fashion sense of citizen in London. With the help of social media, a small firm will be able to promote its brand within the global market. Moreover, the social media advertising will also help the company SD Fashion to promote their products and services within the global market. However, the company will also get help from the positive impact of globalisation. It has been evident that there are several benefits of globalisation such as technology, competition, capital flows, employment, organisation structure and others. In addition, the globalisation has also helped every business organisation to expand its business process within the global market. On that note, a company will also be able to build a competitive position within the global market with the help of globalisation. Moreover, the globalisation has also helped business firms to expense minimum costs for producing maximum products. It has also been evident that 37% of the people have strongly satisfied with the fact that Indian attire is one of the increasing demands at global context. In the same context, it has also been observed that 43% of the customers have recommended the product quality as a strategy for a start up fashion firm to implement while getting established in London. It is very important for a small business firm to produce good quality products in order to attract the customers (Polonsky and Waller, 2018). On that note, the company SD Fashion must provide good quality products to the customers in order to build a good reputation. In addition, it is also very important for the small business firm to implement some innovative designs within their products. This strategy will help the firm to attract more customers towards their products and also the company will be able to build a sustainable position within the business market of London.

It has also been evident that both the executives have accepted with the fact that globalisation will help a small business start-up to expand its business in an effective way. Moreover, with the help of globalisation, a small business firm will also be able to give a tough competition to a multinational company. There are several benefits of globalisation such as technology, competition, capital flows, employment, organisation structure and others. It is also very important for the organisation to provide training to the employees in order to develop their working skills as well as communication skills (Shneor and Flåten, 2015). Communication skill is very important for the development of every organisation. Therefore, the management team of the organisation must implement an effective communication skill in order to deal with the stakeholders and shareholders. It has also been observed that both the executives have accepted with the fact that a small start-up fashion company must produce high quality products in order to satisfy the customers. Moreover, it is also very important for a small company to design some innovative products for attracting the customers. 

Recommendation 

In order to expand into the business market of London, the company SD Fashion must analyse the size and growth of the market before entering it. In addition, the company must use the social media advertising in order to promote their business. With the help of social media, the company will be able to promote their products and services within the global market. Moreover, the social media will also help the firm to enhance its business process within the business market of London. In the same context, the management team of the firm SD Fashion must provide good quality of products to the customers. It has been evident that the customers are always looking for quality products and services. Therefore, in order to satisfy the customers, the company must produce good quality of products. In the same context, the organisation must develop innovative design of products for attracting more customers. With the help of these strategies, the organisation will be able to develop a competitive position within the business market of London.

 

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Conclusion 

From the above study, it can be concluded that the positive impact of globalisation will help the company to expand its business process in an effective way. In addition, there are several advantages of globalisation such as technology, competition, capital flows, employment, organisation structure and others. In addition, the globalisation has also helped every business organisation to expand its business process within the global market. On that note, the company SD Fashion will also be able to build a competitive position within the global market with the help of globalisation. Moreover, in this project plan, the data has been collected from both quantitative research and qualitative research. The qualitative data has been collected by conducting an interview session with the two executives. Furthermore, it can also be concluded that the management team of the company can also use social media advertising for the marketing purpose. In the same context, the company must provide good quality of products to the customers in order to satisfy them. 

P7 Reflect on the value of undertaking the research to meet stated objectives and own learning performance

From my opinion, I feel that due to lack of time, I have not completed this project in a proper manner. From this project, I have learned the positive impact of globalisation on the business organisations. In addition, I have also learned that due to globalisation mainly the small business organisations have given a tough competition to the large multinational companies. On that note, I also feel that the company SD fashion will be able to build a strong competitive advantage with the help of globalisation. Moreover, from this project I have also gained some knowledge about the benefits of globalisation. On that note, I also feel that the company SD fashion will also get several benefits from globalisation such as technology, competition, capital flows, employment, organisation structure and others. However, due to lack of time, I have not completed this project in a proper manner. If the project manager would have given me more time, I could have completed this project in a proper manner. Moreover, I have faced some problems while conducting the survey with the customers. As I have to maintain some ethics and rules therefore, I have faced some issues while selecting the questions for the survey. 

Reference List

Blohm, I., Haas, P., Peters, C., Jakob, T. and Leimeister, J.M., 2016. Managing Disruptive Innovation through Service Systems–The Case of Crowdlending in the Banking Industry.

Cameron, M., Viviers, W. and Steenkamp, E., 2017. Breaking the ‘big data barrier when selecting agricultural export markets: an innovative approach. Agrekon, 56(2), pp.139-157.

COSTLEY, C., ELLIOT, G. and GIBBS, P. (2014) Doing Work Based Research: Approaches to Enquiry for Insider-researchers. London: SAGE. 

Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Demetriou, P.A., 2018. ‘Imagineering’mixed reality (MR) immersive experiences in the postdigital revolution: innovation, collectivity, participation, and ethics in staging experiments as performances. International Journal of Performance Arts and Digital Media, pp.1-18.

Erdélyi, P., 2015. Constructing entrepreneurial markets for innovations: the emergence of e-commerce entrepreneurship in the south of England (Doctoral dissertation, The London School of Economics and Political Science (LSE)).

FLICK, U. (2011) Introducing Research Methodology: A Beginner’s Guide to Doing aResearch Project. London: SAGE.

Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), pp.126-139.

Kendrick, T., 2015. Identifying and managing project risk: essential tools for failure-proofing your project. Amacom.

Park, Y.R., Song, S., Choe, S. and Baik, Y., 2015. Corporate social responsibility in international business: Illustrations from Korean and Japanese electronics MNEs in Indonesia. Journal of business ethics, 129(3), pp.747-761

Polonsky, M.J. and Waller, D.S., 2018. Designing and managing a research project: A business student’s guide. Sage publications.

Shneor, R. and Flåten, B.T., 2015. Opportunities for entrepreneurial development and growth through online communities, collaboration, and value creating and co-creating activities. In Entrepreneurial Challenges in the 21st Century (pp. 178-199). Palgrave Macmillan, London.

 

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