Role of Globalization in the Growth of Company

1. Project aims and objectives

The company Marks and Spencer is a medium-sized firm that deals in retail stores across the globe. It has retail stores around the world that deal in the clothing segment. The main focus of this organisation is to expand their store globally so it can sustain itself in this competitive market. Globalisation is very important for sustaining in this competitive business market. Globalisation plays an important role in affecting big or small business operations. This stage will help Marks and Spencer gain more market share at the global level. The company can launch its new product in the global market, like some ethnic wear so they can attract more consumers globally. It will aid in maximising their profits as well as gaining more market share (Polonsky, 2018).

Globalisation for business includes various implications, including increasing trade across borders of goods and services. As the level of labour migration between countries increases. It is helpful in the emergence of globalization. Apart from this, the expansion of foreign direct investment is also important for business operations.

The primary aim of this project is to analyse the importance of globalisation in the marketing department of Marks & Spencer.

The main objective of this report is to identify the significance of globalisation to the marketing function of Marks and Spencer. With the help of globalisation, one can use this to achieve organisational objectives (Peppet, 2014).

Objective of Project

• To explore the impact of globalisation on the retail industry.
• · To identify the economic and ethical effect of globalisation activities on marketing at Marks and Spencer's plc.
• · To recommend the ways through which Marks and Spencer can expand its business successfully at a globalised level.

Research question:

• What is the impact of economic, cultural, and ethical globalisation activities on the marketing department of Marks & Spencer?
• What is the impact of globalisation on the retail industry?
• Which issues are faced by managers of Marks and Spencer in operating business at the global level?

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P2: Conduct small-scale research, information gathering, and data collection to generate knowledge to support the project.

A project is associated with a period of time duration and for a specific purpose to formulate. It is related to a particular task and it involves planning and management of it. Marks & Spencer has stores across the world, like in the UK, USA, Germany, India, etc. The company has around 1035 stores in the UK only. It has involved various resources such as technology, personnel, intellectual property, personnel, etc. It has many elements, like risk, scope, cost, communication, time, and quality. Globalisation can impact the business of Mark and Spencer (Pekuri et. al., 2014). The sales/profit data are attached in the appendix. Elements are discussed as:

Scope:

Globalisation has a tremendous impact on the company as well as the country. It can help Mark and Spencer to spend their business activities in different countries and establish its brand image across various nations. It has a broader scope in context to the company and the country. For the growth and development, it contributes a lot. It helps to maximise the GDP and economic development. An organisation can expand its business and improve its goodwill, which helps the corporation achieve its goals and objectives (Nicho, Lasa, & Steyn, 2017).

Cost:

There is huge cost involved in the globalisation because companies have to set up their infrastructure with machinery and plants. It has to hire new employees in the country where it wants to start its business. It has to develop a marketing, finance, and human resources team so that Mark and Spencer can perform their business activities effectively.

Forecasted Budget

Time:

It is very essential to complete the project on time. If it is finished in a particular time duration, then it brings satisfaction and increases efficiency. Mark and Spencer can encourage their workers to manage the task within a stipulated time frame. The deadlines allow the employees to bring innovative methods so that tasks can be finished in the required time duration (Morris and Geraldi, 2011).

Quality:

Quality is a primary and considerable factor for any task. It can maximise the performance as well as productivity in the organization. The manager of Mark and Spencer can encourage its workers to perform their roles and duties effectively so that quality of work can be seen in their performance. As a result, marketing, finance, and HR functions of different departments can put in their maximum efforts to maintain the quality of work. It helps the company in globalisation and grabs more market share (Boniface, 2013).

Risk:

It is involved in every business activity and it can hamper the performance of an organization. Before starting a project, risk should be analysed properly so that it does not affect the operations of the company. Corporations can take calculative risks so that chances of faults can be minimised and outcomes can be maximized. Marketing, finance, and HR departments can perform their functions effectively when risk is appropriately evaluated. The organisation can provide training to the workers so that it can be reduced.

Communication:

Communication is very essential for the growth and development of an organisation. It helps in the completion of tasks in an effective manner and smoothly. It minimises the barriers between the different departments of the company. Effective communication can increase the performance of the marketing, human resources, and finance departments and their functions. It helps to improve the efficiency of tasks and build a better team in Mark and Spencer.

P3. Work Breakdown Structure and Gantt chart, which provide time frame and stages

A work breakdown is a form of table that contains the work-related important information and exercise of business operations, which shows relationships among individuals and the team as a whole. The aim of this chart is to give detailed information related to the task, which will assist the manager in predicting results based on different scenarios. So that significant decisions can be made about which procedure should be followed. The aim of Marks and Spencer is to go global with a pre-set goal and differentiate practical, intent, and objectives (Adzic, 2011). This activity is helpful in improving the management skills of users and this gives a clear image of what targets need to be achieved. The work breakdown system is helpful for the company as it assists the organisation in knowing the demands and needs of customers. With the help of this, organisations can make better decisions and strategies for achieving their goals. These charts are prepared on the basis of the aim of business, which is explained below:

• Main aim and objective of research
• Narrative re-evaluate
• Conflicts that are featured by the company
• Intend of researcher
• Choice of target
• Shaping the appropriate plans
• Figuring and passing decisions on collecting data.

Marks & Spencer is a small and medium-sized firm that is looking for a global opportunity to sustain itself in the market (Porter, 2012). The employees and other members of the organisation have organised research that has some questions that are related to the objective of the business. For this, 35 people have been selected. As all activities of research should be finished within a given period of time, tasks can be completed on time. This polling method has been chosen as a source of research.

The above Gantt chart shows a definitive time period for completing the task. As can be seen from the above chart, a literature review is being planned to be completed in 5 days, which is based on task 2. The research methodology is supposed to be finished in 12 days and is based on tasks 2 and 3. The Gantt chart is a representation of a particular task schedule in a graphical way. As per the above information, a Gantt chart is being prepared for Marks and Spencer, which helps in scheduling, managing, and monitoring various activities of the project, which is shown below:

The most important part is to keep related with the determined way and set up the greatest time bound for performing activities. The critical path for this above business plan is discussed below:

TASK 2

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

P5 Conclusions should be based on research objectives. Marks & Spencer is a standard-size organisation in the UK that deals in the retail sector. The management has decided to go global to gain more market share and take a competitive advantage. The trend of globalisation is increased over the last few years due to high competition in the local market and less growth in the local market. The main aim of this retail firm is to give quality products to its customers and attract a larger number of consumers (Aarseth, Rolstadås, and Andersen, 2013). From the above research, it has been seen that various types of origin sources should be operated to assert answerable and valuable data. The main objective of this research is to get a clear and concise outcome from it. It has been suggested to Marks and Spencer that the company should start its operation at the global level; it will help the company to get more growth and gain more market share. Although the company has its stores at the global level, the company can open their new stores in the different countries where they are not operating currently. Globalisation is an important tool to overcome competitors and make a presence across the world. Marks and Spencer is closing their stores in various cities like Paris and Canada due to losses. So as a recommendation, a company can come up with new marketing and advertisement tools in order to be sustainable and convert their loss to profits. As Marks and Spencer should go global, it is very important to capture the global culture, though it will have a huge impact on the different functions of the organisation, similarly, this can give the company the opportunity the opportunity to grow at their best possible level. The company should go for globalisation in order to expand their business, as the conditions are favourable for the company. In the globalisation company, to take a competitive advantage, the company should come up with some new product development.

TASK 4

P7. Reflection on the value of undertaking the research

Management and authorities have passed by various issues in a range of insights while directing assessment. Due to the limited time of research, I have selected only 35 respondents to ask questions. To manage tasks and trouble, appropriate task creation was the standard point of evaluation and inspection and to achieve that, I have chosen a smaller amount of evaluation in close proximity time and cash. From the questionnaire method, I have selected a survey procedure in which 10 questions were formed and 35 people were selected. As one side of the survey, I have moreover used a mixture of supporting wellsprings of research. As an example, regular newspapers, articles, and books helped me to gather data and information about the impact of globalisation. Get assignment writing services from the Assignment Desk and get your assignments done by experts! CONCLUSION In conclusion, it can be said that globalisation plays an important role in the growth of a company. As it has a huge impact on the functions of organisational functions like marketing, finance, and operation. To complete a research project, it is important to develop an aim and objectives. A proper management plan is very important, which includes cost, time, quality, and scope. The work breakdown structure and Gantt chart are helpful in making strategies and a proper framework. The qualitative and quantitative research methods are useful for collecting data and meeting the objectives. The interpretation is very helpful in order to understand the data that comes from qualitative and quantitative research. As to complete research, a reflection is very important, which includes individual learning throughout research.

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CONCLUSION

In conclusion, it can be said that globalisation plays an important role in the growth of a company. As it has a huge impact on the functions of organisational functions like marketing, finance, and operation. To complete a research project, it is important to develop an aim and objectives. A proper management plan is very important, which includes cost, time, quality, and scope. The work breakdown structure and Gantt chart are helpful in making strategies and a proper framework. The qualitative and quantitative research methods are useful for collecting data and meeting the objectives. The interpretation is very helpful in order to understand the data that comes from qualitative and quantitative research. As to complete research, a reflection is very important, which includes individual learning throughout research.

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