R/508/0522 - Regulating the Impact of Globalisation on Business Activity. A study on Marks and Spencer.

Significance of research

It is important for determining research aims and objectives so that they identify the reason behind the smoothly running of business operations in the marketplace. Research has its special significance in order to resolve different planning and operational issues of the business concern. Market research is the investigation of the structure and development of the whole market whose main purpose is to formulate effective policies or strategies for purchasing, selling and producing goods and services (Deichmann, Goyal and Mishra, 2016). In this, the main purpose of research is to gain accurate knowledge and information regarding a specific topic in a better manner.

Research Aim

Aim: “To analyse the implications of globalisation on marketing activities of an organisation operating in UK. A study on Marks and Spencer”.

Research objectives

• To understand the concept of globalisation.

• To identify major issues and challenges faced by organisations because of globalisation.

• To determine the impact of globalisation on marketing activities within Marks and Spencer.

Research question

• What is the concept of globalisation?

• What are the major issues and challenges faced by organisations because of globalisation?

• How does globalisation impacts the marketing activities of Marks and Spencer ?

LITERATURE REVIEW

Concept of globalisation

According to the viewpoint of (Horlacher and Hess, 2016), globalisation defines as the procedure which indicates the interrelationship of various factors beyond the worldwide boundaries. The concept of globalisation occurs with the thought of determining the entire world as an individual marketplace in which all organisation are interdependent on each other which create similar things. Along with this, globalisation can be considered as the combination of society, business concern, economies help in flow relevant information and data, finance, technologies, people, products, facilities, services, capital and ideas. With the help of globalisation, an organisation can easily perform their business functions and activities as they are connected with the potential company in order to use effective services for business growth. The concept of globalisation assist business concern in enhancing its profit level by getting some kind of facilities which are available at market area in all over the world. In the context of Marks and Spencer, the firm deal in various types of goods and services in the large market place. With the assistance of international trade, M&S have not enhanced its demand and need for products at large market area of different country but it is contributed to them in gaining huge amount of profitability. In addition to this, globalisation develop effective business operations and functions where they are acquired necessary resources from other nations on the basis of their necessity.

Issues and challenges of globalisation

As per the view of (Li and et. al., 2016) In current time period, business arena has become enhancing globalised. Government has collaborating to perform work for getting mutual beneficial trade policies and strategies. The internet has created and developed virtual international market areas that allow small businesses in an easy and affordable manner to gain access to the global market place. There are various issues and challenges of globalisation which are described as under:

• Inconsistent moral standards – The term global in business which is define as collaborative market place for encompassing various nations. This is recommended as regularity in the way in order to work in whole market area. The main key issues in global business is to maintain and manage domestic ethical standards when organisation have lack of same ethical challenges. Marks and Spencer face inconsistent moral standards among employees that directly affect on their performance and work.
• Costs – The cost and capital used for smoothly run business operations within globalisation area. This is reach with international level of audience with the help of internet. The researching of each global market place putting in building and developing equipments infrastructure, hire talented local employees and use translator for internal communication. If Marks and Spencer expand their business in global area so this will create issue regarding higher cost and revenue expenditure.

Impact of globalisation on business activities within marks and Spencer

Globalisation can broadly defined as social, political, economic and environmental changes which are adopt by the company. Globalisation is the contentions procedure. In international market place, the growing in global world scale it will bring out in the new era and it is interconnected through it. However globalisation has became very interesting part in related to the company (Phillips, 2016). The foreign direct investment has impact on economic growth level of the firm which has created positive growth rate in the developing country and nation. It will help in enhancing in trade and FDI and as per this result it is higher the growth rate and moreover, globalised nations have lower enhancement in government outlays and taxes and also lower the level in their authorities.

RESEARCH METHODOLOGY

Type of research

Data is collected directly not from previous research work done by other researchers which is known as primary method. In this method researchers are owner of data they have collected and this data is related to particular problem which require complete analysis. Business organizations hire a employee to perform research on their behalf. Primary focus is on particular situation. It can be assumed that brand is going to launch mobile phone and wants to perform research about features. Organization can develop mobile phone depending on response they received from population. Data should be valid and accurate (Weaver and et. al., 2017).

Methods in which previous data is included or used is known as secondary method. To increase effectiveness of data, existing data is summarized. Existing data can be research reports, documents available in websites, data obtained from surveys or data in public libraries. Government and non-government sectors contain some kind of data and even this data can be used for research purpose. This method is cost effective. Research is based on implemented methods which are already tested and analysed. This method is fast and easy and also provide broader view of particular subject. In this method researcher know from where data can explored.

Research approach

Immense methods to collect data analyse data and interpret data, planning of these steps is referred to as research approach. It depends on nature of research problem which is being addressed. Various research approaches are present, few of them. The Qualitative research deals with understanding attributes and exploring them in order to get thorough with human and social problem. It consists of questions and procedures related with particular research. On the other hand, Quantitative research develop relationship between various variables are analysed for testing theories (Mohanty, Choppali and Kougianos, 2016). These variables can be measured using statistical methods. In Mixed method, both quantitative and qualitative data is involved. This includes theoretical framework and philosophical assumptions. It helps to understand complete research problem.

Data sampling

Collection or selection, manipulation and analysation of data in order to identify trends and pattern of large sample set is known as data sampling. It helps analysts, data scientists and modellers to implement and run analytical models quickly. Sampling is useful when large data sets are available for analysis like big data analysis. Identification and analysation of samples is more cost effective rather than that of entire data. Large samples increases possibility of accurate data even if they require more interpretation and manipulation. Data sampling methods includes simple random sampling (randomly subject is selected), stratified sampling (subsets of data are created based on some common factor), cluster sampling (data set is divided into clusters), multistage sampling (divide data into clusters further break those clusters depending on certain factors), systematic sampling (set interval for data extraction from larger data set).

Data analysis

Process of extracting data using logical and analytical reasoning to examine every component of data. Data is collected, reviewed, analysed from various resources. Various data analysis techniques which consists of mining of data, text analysis, data visualization and business intelligence. In data analysis data is clustered into different components. In this raw data is obtained and it is converted into useful information for decision making. Data is collected from various resources, analysed and hypotheses is formed. Data is taken as input for analysing based upon requirements of customers or analysis which is to be performed. Data which is collected is referred to as experimental unit (Mohanty, Choppali and Kougianos, 2016).

Ethical consideration

It is required for an investigator is to collect and gather entire research procedure in better way so it is required for them is to follow all major rules and norms which help them in conducting business operations. Along with this, there are various issues and problems which are mainly faced by investigator while developing and formulating research project so researcher need to make sure that it will assist in resolving major issues. They need to solve their barriers and issues in ethical and legal way. This is determined as one of the crucial data and information which required to be develop confidence and does not mislead the facts in better manner.

DATA ANALYSIS

Data interpretation:

Theme 1: Globalisation is the vast concept

Interpretation: As per the above table, it can be analysed that most of the people are totally aware about globalisation concept which help them in expanding business operations and functions. There are around 20 respondents who are agree on this statement and rest of the 10 are agree on this consideration.

Theme 2: Significance of globalisation on marketing activities of business

Interpretation: It can be stated that globalisation is important for performing different market activities and functions of business. There are around 15 respondents who are agree on globalisation help in enhancing usage of new technologies and methods. Rest of the 10 respondents are said that it help in improving sales and remaining 5 respondents are agree on enhancing profitability.

Theme 3: Globalisation assist in acquiring development and improvement in nation

Interpretation: As per the given table, it can be analysed that globalisation help in getting development and proper improvement in country. There are around 25 respondents who are agree on that statement and rest of the 5 respondents are help in maintaining and developing specific nation.

Theme 4: Global trade is the effective tools and methods for enhancing globalisation

Interpretation: It can be stated that global trade is the effective method and tool which help in increasing globalisation. There are around 20 respondents who are agree on international trade is beneficial and rest of the 5 respondents are agree on FDI and eliminating trade barriers.

Theme 5: Globalisation directly impact on business activities and its functions

Interpretation: It can be stated that globalisation directly affect on business activities and functions in better manner. There are around 26 respondents who are agree on this statement that globalisation affects on organisation functions and its operations. Rest of the 4 are disagree on this consideration.

Theme 6: Enhancement in risk factors are the major issues and problems of globalisation

Interpretation: As per the given table, it can be analysed that some issues and problems occur while smoothly run of business operations and its functions in an effective manner. There are around 20 respondents who agree that the major issue is increasing in risk factors and the remaining 10 respondents consider an enhancement in cost and value.

PERSONAL REFLECTION STATEMENT

Reflection

The research consists of a crucial factor in which research methodology will play an essential role in carry out investigation functions in better manner. While developing research, I need to gather and collect essential elements and whole research functions are based on relevant facts and figures. In addition to this, I am required to conduct the primary and secondary methods in order to collect and gather data in a relevant manner.

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CONCLUSION AND RECOMMENDATION

Conclusion

From the above-described report, it can be analysed that Globalisation is the procedure of combining and integrating people, organisations and governments in all over the world. It is important for determining research aims and objectives so that they identify the reason behind the smoothly running of business operations in the marketplace. With the help of globalisation, an organisation can easily perform their business functions and activities as they are connected with potential companies in order to use effective services for business growth.

Recommendation

It can be recommended that researchers can analyse while marketplace before establishing their business and run marketing activities in the United Kingdom. Globalisation can help in maintaining and managing whole business operations and functions effectively. This can be beneficial for attracting domestic as well as international customers in order to attain desired goals and targets in a better manner. Globalisation can help in operating and regulating business at the global level.

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