LO1 Conduct appropriate research methodology which integrates knowledge into the research process
P1 Produce a research proposal that clearly defines a research question or hypothesis, supported by a literature review
Introduction:
Research background:
Nowadays the success of both local and global businesses is influenced by globalisation. Globalisation is influencing the productivity and economic growth of local and international businesses. Nowadays, businesses implement different strategies to maintain their sustainability and cope up with globalisation. However, globalisation has both positive and negative influence that can either flourish or hamper the success of business organisations. The positive effect of globalisation can help business organisations to implement suitable plans and strategies that can drive their business towards success. With the help of globalisation, these organisations can modify and update their technological aspects. Along with that, they can install new technologies with the help of the positive elements of globalisation. Positive aspects of globalisation help an organisation in maintaining its sustainability.
On the other hand, globalisation sometimes hampers the business growth of an organisation through their pessimistic elements (Gallaire, and Nicolas, 2016). The negative effects of globalisation such as price inflation, emigration issues, technological up gradation can damage the growth and productivity of an organisation. Many small and micro organisations fail to cope up with the new changes of globalisation. Hence, it can be said that globalisation and its negative aspects can highly damage the efficiency and economic stability of an organisation. On the other hand, the success ratio of organisations is getting increased with the help of globalisation. Organisations are getting the power to improve their business activities and overall growth by considering the business strategies of globalisation.
Aim:
To understand the driving power of globalisation in the success of various businesses
Objectives:
- To analyse the positive impact of globalisation in the worldwide business context.
- To analyse the negative impact of globalisation in the worldwide business context.
- To comprehend the success ratio of businesses due to globalisation.
Research questions:
- How to analyse the positive impact of globalisation in the worldwide business context?
- How to analyse the negative impact of globalisation in the worldwide business context?
- How to comprehend the success ratio of businesses due to globalisation?
Research rationale:
Globalisation and its various elements influence both local and global organisations. This given research proposal will cover the impact of globalisation in the success driving processes of different businesses. The completion of this research proposal and project will facilitate the businesspersons in implementing suitable strategies for the betterment of their organisations. Along with that, this given topic is fresh and innovative. The learner can show their creativity while collecting data for the completion of this research.
Research scope:
This given proposal will facilitate the knowledge strengthening the aspect of the learner. With the help of this research, the learner will get an accurate idea about the influence of globalisation in the success driving policies of the various business organisations. Besides that, businesspersons will get business planning ideas from this research project that will help them to cope up with the changes of globalisation.
Literature review
The positive impact of globalisation in the worldwide business context
1. Global market: Every developed country is getting a large number of the emerging market because they are converting their state-owned industries into the private organisation. These industries wanted to increase their consumer base, so they are going to attempt in the international market. The foremost positive impact of globalisation is the transaction between international borders is increasing. This organisation is competing with each other and to expand their business they wanted to achieve economies of scale and lowers their cost of production. A small business is achieving the status of the multinational company because of the globalisation (Newburry and Yakova 2016).
2. Foreign trade: Globalisation has formed and expanded foreign trade all over the world. There are some products which can be produced only by developed countries but due to globalisation every country can access these types of goods. There are some countries which have special products due to their cultural or environmental factors, now they can sell those goods to other countries and can convert their cultural specialty into potential business activities. Much small business organisation is now getting the guts to attempt to foreign trade because of the strict rules and regulation of the World Trade Organisation as they do not have fear of getting exploited by excessive tariff rates (Xu Zhu and Gibbs 2014).
3. Competition: The most important impact of globalisation is the quality of the product has increased a lot due to cut-throat competition. Consumer satisfaction and consumer service became an important aspect of global competition; because of this competition every consumer of the world is getting an improved quality of the product. Domestic companies when they attempt to go in the international market, they made their product better and when an international brand comes in the domestic market, they try to come with modified goods to gain some goodwill (Carr and Chen 2015).
The negative impact of globalisation in the worldwide business context
1. International trade laws: An organisation has to maintain a wide range of international laws when they go for the international market. These laws are very strict and complicated which is being made by the World Trade Organisation. Before entering in a country an organisation has to reviews the of WHO to see if they are getting a proper tariff rate from that country, after that the organisation has to review the political laws of that country to see the level of a hindrance they will face during the continuation of the business. Therefore, starting a business in foreign soil is a very complicated task for an organisation (Kim Park and Prescott 2013).
2. Language issues: The main problem which a business organisation faces because of going to the international market is a language issue. If the organisation is not familiar with the local language of that area in which they are operating, then they will face a huge communication gap. They will not be able to understand what the consumer of that is needed and what they prefer and because of this lack of communication, the organisation will not be able to satisfy the consumers of that area. Therefore, the international market needs a lot more that only a good quality product (Fletcher and Fang 2016).
3. Negative competition: Although healthy competition can bring out the best from a business organisation and motivate them to improve their product quality. But sometimes the organisation which comes in foreign soil to sell their product they face huge competition from the domestic companies. This domestic organisation often get subsidies from the government which helps them to decrease their price of the goods and on the other hand international organisation has to pay the tariff to the government. This is a very bad situation for the international business organisation as they face difficulties to survive (Crane and Matten 2016).
The success of business due to globalisation
Because of the globalisation any form of business organisation can now get a footprint in the international market and they are getting a wide range of customer. They are now getting all types of customers from various types of culture. They are also now getting modern technologies as they are importing from developed nations to modernise their business. This are some reasons why globalisation is helping a business organisation to grow and expand. This does not stop here only when an organisation is opening up a factory in foreign soil, they are getting cheap domestic labour which helping them to get economies of scale (Kubota, 2016).
Moreover, because of the globalisation business organisation can popularise their brand all over the world. Business organisation can now sell their products in the most emerging market in the world due to globalisation. If the business organisation sees that the domestic country is facing a few economic problems like deflation then they can go for any other country where they will find a good economic condition in the meantime. The business organisation does not have the fear of getting exploited by the foreign government because of the intervention of WHO and other international trade agencies (Stalker, 2014).
P2 Examine appropriate research methods and conduct primary and secondary research
M1 Evaluate different research approaches and methodology and make justifications for the choice of methods selected based on philosophical/ theoretical frameworks
Methodology:
The methodology is a crucial part of a research project. With the help of suitable methodology, a learner can successfully complete their research project. The methodology of a research project includes different parts-such as- research philosophy, research technique, research approach, data collection method, data analysis method, sampling techniques, ethical considerations etc.
Research philosophy:
Research philosophy provides guidance and direction to the learner while conducting a research project. Research philosophies are of various types. Such as- pragmatism, positivism, realism, interpretivism etc. In order to conduct this research project accurately, the learner will at first explore the elements of these four research philosophies. After that, the learner will consider the positivism and realism philosophy to complete this project. The positivism philosophy will help the learner in analysing the authenticity of the data regarding the research project. On the other hand, the realism theory will help the learner in the data analysing process (Bryman, and Cramer, 2017).
Research technique:
The technique of research influences the successful completion of the overall project. Research techniques are of different types. Such as- questionnaire, feedback forms, interviews, surveys etc. In order to gather the quantitative data of the research project, the learner will consider both questionnaire and survey as their research technique method. They will conduct a survey among 100 businesspersons to know the impact of globalisation on the success ratio of their business (Hox, and Boeije, 2015).
Research approach:
Approaches of research facilitate the learner in conducting the project in the right direction. Inductive, abductive and deductive approaches are known as research approaches. Here in this project, the learner will consider the deductive approach to gather the quantitative and primary data regarding the research project (Kothari, 2017).
Data collection method:
Data collection methods help a learner to gather maximum information about the research topic. Two types of data such as primary and secondary data are being collected through the help of qualitative or quantitative data collection method. Here, in this project, the learner will consider the quantitative data collection method to generate the primary information regarding the research project (Crossan, 2016).
Data analysis method:
Data analysis method helps a learner in the correct evaluating process of the collected information. Data analysis methods are of different types. Such as- interviews, surveys, observations, experiments etc. Here in this project, the learner will consider survey and experiment to analyse the quantitative data of the research topic.
Sampling technique:
Research sampling techniques are of various types- systematic, cluster, quota, snowball sampling etc. Here, the learner will consider systematic research sampling technique to successfully complete this research project. With the help of this sampling technique, the learner will be able to align his/her work in a methodical way (Zainal, 2017).
Ethical consideration:
This is one of the important parts of a research project. The learner needs to make sure that nobody gets injured while conducting this given project. Along with that, the leaner will make sure that nobody will be forced to give interviews for the research project.
Timeline
Action plan
The researcher had taken five weeks to form a research proposal which is in LO 1. Under task 1A he formulated a research proposal within four weeks and under task 1B he made the methodology of the research between a second week and fourth week. He had done a literature review between the fifth week and seventh week. The researcher had taken five weeks to implement a research project which is in LO 2. Under task 2A he had done questionnaires between the fourth and sixth week. Under task 2B he had collected all the data regarding the topic between a seventh week and tenth week. The researcher had taken four weeks to evaluate research outcomes which are in LO 4. Under task 3A and 3B he analysis all the data and found the conclusion between the eighth and twelfth week.
Gantt chart
| Task | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 | Week 6 | Week 7 | Week 8 | Week 9 | Week 10 | Week 11 | Week 12 |
| Formulate research proposal (LO1) | ||||||||||||
| Formulate research proposal (Task 1A) | ||||||||||||
| Research methodology (Task 1B) | ||||||||||||
| Identify Relevant Literature (Task 1C) | ||||||||||||
| Implementation of Research project (LO2) | ||||||||||||
| Questionnaire Design (Task 2A) | ||||||||||||
| Data Collection and Report (Task 2B) | ||||||||||||
| Evaluation of Research out comes (LO3) | ||||||||||||
| Data analysis of results (Task 3A/3B) | ||||||||||||
| Present Findings and Discussion (LO4) | ||||||||||||
| Presentation (Task 4) |
LO2 Conduct and analyse research relevant to a chosen business research project
P3 Conduct primary and secondary research using appropriate methods for a business research project that consider costs, access and ethical issues
M2 Discuss merits, limitations and pitfalls of approaches to data collection and analysis
Methodology:
The methodology is the main and most important part of research as it helps the researcher to analyse several methods which are best for this project. It is used to accumulate data and instructions to make a decision. The researcher has to choose the perfect methodology to conduct the research in a better way and it helps to determine the perfect outcomes of this project. The methodology includes qualitative and quantitative techniques, phases, paradigm and theoretic model (Kothari, 2017). The methodology can be divided into three parts. In the first part, it shows several regulations and rules of this project. In the second part, it highlights the best suitable method which is chosen by the researcher for this project and the third part explains a brief description of the chosen methods. The researcher chooses the correct methodology in this project to determine various driving power of globalization which helps in the success of a business. By researching in a correct and better way, the researcher can take a decision about the positive and negative effects of this globalization (Strauss and Corbin, 2017.).
Research Philosophy: Research philosophy contains a conceptual framework by which the researcher can analyse the concept critically and explore several aspects. This is necessary to complete the project in a systematic way. If the researcher follows a well-structured way, then it eradicates the possibility of errors in the meantime of the project (Crossan, 2018). In this case, the researcher has maintained direct realism to determine the human sense of every people. The researcher has done positivism to know the reality of this concept. With the help of various aspects, the researcher has forged the philosophy depending on the hypothesis to boost the knowledge about this research.
Research approach: Research approach is the blueprint or process of various way chosen for data interpretation, collection and analysis. Hence, it works as the problem finder by which the researcher come to know about the problems which he confronts during the whole research. Research approach may be inductive or deductive. Before choosing any approach, the researcher analyses the advantages and disadvantages of these approaches and then he takes a decision of choosing the best approach depending on the suitability of his research (Flanagan, 2018). The researcher chooses the best one to conduct the research which results in a good outcome. In this research project, the researcher has chosen the deductive approach to complete the process. Though it is done in a formal way it is time-saving. This approach has been taken as it mentions the important points and many rules associated with this project also quickly and more explicitly explained which is very helpful for the researcher to take the decision in a short period.
Research design: Research design is the blueprint of the different processes by which the researcher can come to know about the countering problem in the meantime of the project (Amaratunga, Baldry, Sarshar and Newton, 2017). It includes various surveys, questionnaires and interviews of 100 business persons to know about their view of the various factors of globalization which helps the business to be successful and what problem they face for this globalization.
Research method: Research method is for data analysis and data collection. The researcher takes the best research method to meet the goal of the project. There are two types of methods which can be taken and they are – quantitative and qualitative (Sapsford and Jupp, 2016). The researcher has to collect various reliable data by using various tools like questionnaires, surveys, experiments and interviews. After analysing the whole data, the researcher records the data in numerical form. From this numerical analysis, in future, the researcher can take any further action. In this project, the researcher takes quantitative method as by using this, the results are easily measured and clearly meet the objectives. This method focuses on the observation rather than the numerical result and it suits this project best.
Timeline: Timeline is the projected time to complete the whole analysis of the project successfully. The researcher took five weeks to plan the research proposal and implementation of this project. The data evaluation was done in four weeks and he took four weeks to further analysis and research about the outcome. He totally took twelve weeks to complete the whole analysis and project successfully.
Data collecting tool and technique: Data collection is uttermost important to progress the research. The researcher applies various tools like questionnaire, observation, data analysis to collect maximum information which is reliable as well as authentic. There are two ways for collecting the data- primary method and secondary method. Primary data is collected by a researcher which should be unique and not collected by anyone before. Secondary data is not new and it previously exists. In this research project, the researcher does his own. Therefore, he collected data in a primary method by using questionnaire, surveys and interviews (Gamper, Schönhuth and Kronenwett, 2017). He chose the primary method as it helps to boost the quality of the project and it helps to cut out the possibility of wasting resources.
Data analytical tool and technique: After collecting the data, analysis is very important for taking any further action. Quantitative and qualitative methods are used for data analysis. Different techniques like surveys, experiment, questionnaire, observations, evaluations, interviews etc. are taken to complete the analysis. Quantitative analysis is mainly done on the basis of numerical data. On the other hand, qualitative is based on descriptive data (Maxwell, 2016). In this project, the researcher took a quantitative analysis method to do the complete analysis. In this survey, this method is best suited as in this project human behaviour has to be understood. As the researcher took quantitative analysis, he conducts surveys and experiments to fulfil his purpose. In this project, data is analysed from the descriptions of the business persons and data is also analysed in the language of the informants (Larson and Csikszentmihalyi, 2016). Therefore, it is clearly shown that this quantitative analysis is the best-chosen process by the researcher to achieve the objectives of this project.
Sampling: Sampling method refers to the process that enables the researcher to specify the population, who are to be questioned in the survey method. Due to this method, the researcher of this research method targets the population that is various business owners in the global market. In this research project, these businesspersons took part in the survey method. Some ways that help the researcher to identify the correct population are most suitable for the research. Thus, the sampling method can be helpful for him or her to gain the appropriate information that can direct the right way to the researcher.
Along with this, targeting the right target population can help the researcher at the time of conducting analysis. The key reason for conducting the sampling method for this research project is that the businesspersons are directly connected with the core concept of the research project (Cochran, 2017). In this perspective, the researcher has applied the systematic sampling method in order to make a statistical process by involving the high number of populations. Due to this, the sampling frame of this research project has become well structured (Amaratunga, Baldry, Sarshar, and Newton, 2015).
Limitation: While conducting a research project is most evident that the researcher will face different types of research limitation and hindrances while conducting the research project. In this research project, the research has gone through some of the most relevant obstacles has created an issue while gaining various essential information regarding the research. At first, the research had determined a particular amount of money in order to conduct the research project.
As this research is based on the context of globalization, it needed more fund so that he could apply higher quality approaches. Thus, due to lack of fund, the research has failed to gather more information, which could be helpful for the project to be stronger. At the same time, he has faced several issues while communicating various businesspersons, who are involved in this research project in providing essential information (Henderson and Sundaresan, 2018). While interviewing them, the researcher found that some of them remained silent or showed biasness while giving answers. Along with this, some left the survey paper blank as well. Due to this, the findings of the research faced some confusing situation. As a result, the researcher faced issues while conducting the analysis properly due to inadequate and wrong answerers.
Ethical consideration: Ethical consideration is one of the most critical aspects that the researcher must follow (Miron, 2018). In this perspective, the conceptual framework of the ethical consideration has guided the researcher of this research project to conduct the research by maintaining the ethics and differentiate between the right and wrong approach for the research approach and method. Through keeping up the ethics, the researcher has maintained the authenticities of the project, as this research has not hurt or harms any component, element or population that took part in this research project. Along with this, the populations were not forced while providing their opinion or their answers were not manipulated or customized in the research project. In addition, the researcher has mentioned all the possibilities without being biased (Marton, 2016).
Research outcomes:
On every industry, globalization has a huge impact. Where globalisation has positive impact, it also has some negative impact. Due to globalisation, many countries open their door to multinational companies. Therefore, the market is free now for various businesses. In this research project, globalization includes various aspect with different methodology, findings, and analysis. Along with that, globalization provides a huge effect on the business and drives several businesses as well.
Positive factors will help to manage the business and negative factors can hamper the business very badly. If a company explores their business with various aspects, then negative factors need to be removed by the company. The globalisation has several impacts such as place flexibility, enhancing the competition, bigger awareness, and huge economic sales and so on. When globalisation can hamper the business, then business needs to hold all factors. On the other hand, all workers of the company control themselves to help the company form globalisation (Cavaye, 2016). Because of a competitive market, a company must include some attractive and modern techniques to meet the ultimate goal of the business. To reach a high position of the market in the UK, the company need to modify their perspective along with a goal to gain more profit from the consumers. For this modification, every employee and consumers suffer a lot. Therefore, this might be useful for the organization or it becomes very risky for the business.
According to this fact, globalisation helps to understand the success ratio of a business and develop them as well. Apart from that, all products can satisfy the customers. The selling level becomes high. To provide the best quality product and services, the globalization is very much effective for a business to meet all the demands of the consumers. At times, this keeps all rules and regulations in the UK. Because the employment and environment law give negative impact on an organisation, the company needs to modify their whole environment. As a result, the globalisation makes an impression on a business in a unique way. In addition, this will help to get more profit and enhance the market level (Flanagan, 2018).
Questionnaire
1. Which sectors of the companies receive most modifications due to globalisation?
- Production
- Marketing
- HR process
2. Has globalisation affected the originality of the business activities?
- Yes
- No
- Maybe
3. What chaos occurs due to the interference of the policies of the international market in the companies?
- Cultural indifference
- Language barriers
- Lack of employee engagement
4. What factors do companies focus upon while operating their business in the global market?
- Business expansion
- Brand recognition
- Increasing customer base
5. Do you think the business ratio is growing higher due to globalisation?
- Yes
- No
- Maybe
6. Does the organisational culture get affected due to globalisation?
- Yes
- No
- Maybe
7. What are the positive changes that are noticeable regarding the workforce of your company?
- Improvement of abilities
- Adaptability of the workforce
8. Do you think the pricing strategy of your company is affected by globalisation?
- Yes
- No
- Maybe
9. What are the advantages of linking your business to the global market?
- Opportunities to extend business
- Increase of investment
10. What are the disadvantages of linking your business to the global market?
- Loss of originality
- Internal chaos
P4 Apply appropriate analytical tools to analyse research findings and data
Findings
1. Which sectors of the companies receive most modifications due to globalisation?
| Variables | Percentage |
| Production | 20% |
| Marketing | 50% |
| HR process | 30% |
2. Has globalisation affected the originality of the business activities?
| Variables | Percentage |
| Yes | 50% |
| No | 20% |
| Maybe | 30% |
3. What chaos occurs due to the interference of the policies of the international market in the companies?
| Variables | Percentage |
| Cultural indifference | 30% |
| Language barriers | 50% |
| Lack of employee engagement | 20% |
4. What factors do companies focus upon while operating their business in the global market?
| Variables | Percentage |
| Business expansion | 30% |
| Brand recognition | 20% |
| Increasing customer base | 50% |
5. Do you think the business ratio is growing higher due to globalisation?
| Variables | Percentage |
| Yes | 70% |
| No | 20% |
| Maybe | 10% |
6. Does the organisational culture get affected due to globalisation?
| Variables | Percentage |
| Yes | 40% |
| No | 50% |
| Maybe | 10% |
7. What are the positive changes that are noticeable regarding the workforce of your company?
| Variables | Percentage |
| Improvement of abilities | 40% |
| Adaptability of the workforce | 60% |
8. Do you think the pricing strategy of your company is affected by globalisation?
| Variables | Percentage |
| Yes | 30% |
| No | 40% |
| Maybe | 30% |
9. What are the advantages of linking your business to the global market?
| Variables | Percentage |
| Opportunities to extend business | 60% |
| Increase of investment | 40% |
10. What are the disadvantages of linking your business to the global market?
| Variables | Percentage |
| Loss of originality | 30% |
| Internal chaos | 70% |
LO3 Communicate the outcomes of a research project to identified stakeholders.
P5 Communicate research outcomes in an appropriate manner for the intended audience
Analysis
1. Which sectors of the companies receive most modifications due to globalisation?
In order to gather information upon the advantages and disadvantages of the involvement of the business organisations within the global market, a survey has been done upon 100 business persons. As per this survey the first question that was asked was their perspectives regarding the sector that is subjected to most modifications. About 20% of the interviewees said that production sector gets more modifications, whereas 50% of the interviewees said that marketing sector receives more modifications. On the other hand, 30% of the interviewees said that HR sector gets more modifications die to globalisation.
2. Has globalisation affected the originality of the business activities?
The interviewees were asked whether globalisation has affected the original aim and objectives of the business activities that the companies operate or not. Among all the interviewees about 50% of the interviewees sad that globalisation has affected the originality of the business activities. On the other hand, 20% of the interviewees disagreed and said that globalisation do not affect the originality of the company. The rest of the 305 of the interviewees claimed that they have no clear response to this question as they feel that originality of the company could be affected by globalisation. In certain ways, this 30% of the interviewees feel that globalisation do not affect the originality of the companies.
3. What chaos occurs due to the interference of the policies of the international market in the companies?
The interviewees were asked was related to the chaos that usually occurs within the companies due to the policies of the international market. Among the 100 interviewees, 30% of the interviewees said that interference of the policies of the international market led to cultural differences. The other 50% of the interviewees said that language barriers are the main chaos that happens due to the policies of the international market. About 20% of the interviewees said that the main chaos that occurs within the companies was the lack of employee engagement.
4. What factors do companies focus upon while operating their business in the global market?
The interviewees were asked the factors that companies usually concentrate upon while engaging their business in the global market. About 30% of the interviewees claimed that companies focus upon business expansion while operating business within global market. The other 20% of the interviewees said that the companies focused upon brand recognition while the other 50% of the interviewees said that companies focus upon increasing the customer base and thus they engage themselves within the international market and operate business there.
5. Do you think the business ratio is growing higher due to globalisation?
The interviewees whether the growth of the business is high due to their involvement within the global market. About 70% of the interviewees agreed and said that globalisation has increased the growth rate of the companies. However, 20% of the interviews climbed that the progress rate is not quite high. On the other hand, 10% of the interviewees said that growth rate might increase due to the globalisation and at the same time the growth rate might not increase due to certain factor.
6. Does the organisational culture get affected due to globalisation?
The 40% of the interviewees said that organisational culture does not get affected due to globalisation whereas 50% of the interviewees said that organisational culture does not get affected. On the other hand, 10% of the interviewees said that organisational culture might change due to globalisation.
7. What are the positive changes that are noticeable regarding the workforce of your company?
The process of globalisation is a vast concept that is applied in the various aspects of the global business organisations. In this perspective, it is evident that this process consists of both the positive and negative impact on the companies in the global arena. Due to this, the targeted businesspersons were asked regarding the statement that the possible positive changes that they are currently noticing the workforce of their respective organisation. In this case, 40% of them have mentioned that they have seen significant improvement in the workability of the employees of the company. Rest of the 60% of them has mentioned that due to globalisation the workforce has increased their ability to adopt the changes. Thus, both of these aspects are supporting the success of the company.
8. Do you think the pricing strategy of your company is affected by globalisation?
In the context of business, the pricing strategy is the aspect that remains constant whether the process of globalisation is connected or not. In this perspective, the pricing strategy plays a huge role while conducting business properly. Due to this, the businesspersons were asked to provide their opinion on the statement that the pricing strategy of their respective companies may get affected due to emergences of globalisation. Here, variations can be seen in their answers as 30% of the businesspersons have stated that it gets affected as the global market consisting foreign currency is involved. On the other hand, 40% of them has opposed the statement and said that despite the existence of global market they stick to their pricing strategy. On the other hand, rest of the 30% has mentioned nothing in particular.
9. What are the advantages of linking your business to the global market?
The business organisations are likely to apply those factors within the business that have the probability to benefit the company. In this perspective, it is evident that some of the most effective outcomes regarding globalisation that are advantageous to the global organisations. Due to this, the businesspersons were asked to state the aspects that they are getting because of application of globalisation in the business activities. 60% of them have mentioned that due to globalisation, the opportunities of business expansion have increased. At the same time, rest of the 40% of them has mentioned that the implementation of globalisation enabled the companies to invest higher amount of capital in the business.
10. What are the disadvantages of linking your business to the global market?
Along with the positive aspects, the global organisations are also probable to go through the negative aspects that are highly linked with the organisation and its activities as well. The businesspersons were asked to state the possible disadvantages that they consider as linking factor to the global market. Here, 30% of them have mentioned that the originality of the organisational culture is getting affected due to integration of various cultures. On the other hand, rest of the 70% of them have mentioned that workforce of the company is facing huge internal chaos.
LO4 Reflect on the application of research methodologies and concepts
P6 Reflect on the effectiveness of research methods applied for meeting objectives of the business research project.
Self-reflection: This report is based on the globalisation and its reflection on various businesses. Along with that, there have some positive impact as well as the negative impact of globalisation in the business context globally. In this research project, various aspect based on the aim and objective of this project. First of all, a methodology was discussed where various methods are used to analyse the positive and negative impact of globalization in the world economy.
Additionally, the methodology was described how to comprehend the success ratio of businesses due to globalisation. For researching this project, the best way is the quantitative method that helps to understand all impacts of globalisation on the growth of several businesses. By applying these methods, the objective clearly appears and the result is easily calculated. The method does not effect on the non-numerical things. In that way, the primary and secondary objective is completed to operate this research project clearly. Globalization is an essential part of the development of business. With all the information, the driving power of globalization has been discussed. As a result, this makes this project more comfortable and resourceful.
For an example, the significant factors of globalisation are unique machines, maintaining several employment law and rules, price of products and many more, these factors were focused on this project to understand the success ratio of different businesses for globalization. Apart from that, these factors help to drive a business for a long period. Besides, I was also describing the deductive research method in details. Additionally, I also used a survey and experiment tool for data analyzing. This helps to provide a positive impact for an organisation. Despite of several advantages, there are some disadvantages also. By applying all methods are helpful for this project. This can help to get more information for the motive of this research project and meet the main aim of this project.
P7 Consider alternative research methodologies and lessons learned in view of the outcomes
M4 Provide critical reflection and insight that results in recommended actions for improvements and future research considerations.
Recommendation:
Depending on this project, there are some outcomes of driving the power of globalisation on the business environment. In United Kingdom, various types and sizes of businesses are available. Many companies are separated in four parts, which are micro, small, medium, and large. However, the competition is big and all company always uses innovative and unique strategies to develop a business. For implementing new techniques and plans, the globalisation occurs. The customer’s needs make changes day by day. Therefore, companies gain more interest in the competitive market. The driving power of globalisation may affect on both consumers and employees. Naturally, positive impacts are huge and negative impacts are less. This helps to meet the success of a business by improving the skills of the employees. Employees can make new products with the requirements of consumers. After handling the research project, we can recommend that the qualitative research may be used to operate this research. Here, we have conducted the quantitative analysis.
This will help to minimise the budget as well as time. If we have also recommended the research method. However, the project analysis takes more time and it is complex. Therefore, we used quantitative analysis. At the same time, the deductive research is the best approach for this project. However, this is boring and quite formal. For that reason, we can be recommended that the inductive research might be implemented. In this project, the primary data is used as a data collection tool. In that prospect, the secondary data collection can be used also. To gain more success for the growth of a business, the secondary data collection method also conducted with the primary data. The systematic method is implemented in this project. We also recommended that the cluster method also used if you want.
Reference
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