INTRODUCTION
In the present era, it is globalisation which has boosted output of economies and provided new opportunities to businesses to increase their scope. It has proved to be a boon for businesses as well as customers. There are plenty of positive implications which globalisation has provided to organisations irrespective of sectors they are operating in (The impact of globalisation on international business,2018). In the present study, main emphasis is given on the retail sector of UK where globalisation has rendered numerous benefits on different functions of organisations with positive economic, cultural and ethical impacts. To be specific, topic that will be studied here is analysing the positive cultural impacts of globalization on marketing practices of Marks and Spencer (M&S) which is one of the leading British fashion retailers based in the UK.
LO 1
P1. Devising project aim and objectives for the chosen topic
Research Aim: To analyse the positive cultural impacts of globalization on marketing practices of retail organisations a case study on Marks and Spencer, UK
Research Objectives:
- To identify the cultural impacts of globalisation on functions of retail organisations
- To analyse the influence of cultural impact of globalisation on marketing practices of M&S
- To understand the challenges that company face due to cultural impact of globalisation
Research Questions:
- What are the cultural impacts of globalisation on functions of retail organisations?
- How does marketing practices of M&S get influenced with cultural impact of globalisation?
- What are the challenges that company face due to cultural impact of globalisation?
P2. Producing the project management plan
A project management plan is prepared with an aim to provide a comprehensive baseline regarding objective to be achieved along with the way to attain and measure same. It is formal document that helps in guiding the implementation and control of project.
Cost: One of the most important parts of project management plan is to estimate overall costs associated and reaching at the final conclusion. Here, total baseline costs are included while, expenditures are mainly divided into labour costs, direct expenses and assets impacts (The Project Management Plan (PMP), 2018).
Scope: To build a project management plan, scope in particular plays a significant role by which foundation for understanding is set by the decision maker and down the line, development regarding results of project is done.
Time: Time is also an essential aspect that has to be kept in mind while building a project management plan as to meet the set deadline timely is highly important ( and et.al., 2018.). If all tasks decided to be carried out will not be accomplished in their stipulated timeframe then there will be chances of delay in gaining final outcomes.
Quality: It is crucial for to maintain quality of project by following set standards that must be met along with managing the compliance of deliverables. Non-compliance of quality standards may lead project to serious repercussions based on the delivery as well as acceptance (, 2018).
Communication: Further, for effective project management plan, it is important to manage various working relationships to identify the stakeholders and their level of interest so that their expectations can be effectually met.
Risk: While conducting project management plan, it is vital to assess the associated risks along with their likely impacts so that any issues that may occur while reaching at the final results can be predicted and solved on time (The Project Management Plan (PMP), 2018).
Resources: To analyse the need of resources is an important aspect of project management plan as without having sufficient financial, physical and human resources, to implement the same is not possible.
P3. Work breakdown structure and a Gantt chart
Work breakdown structure is basically the way to divide team’s work in different sections in a hierarchical decomposition of work which team is supposed to follow to reach the final goals in a timely and efficient manner. It is presented in such a way that is easily understandable by the team as it is clearly defined and organised (PANNEERSELVAM, 2014). On the other hand, Gantt chart can be referred as the sequence of activities with their specified timeframe in which each has to be completed with their start and finish data to attain the set target within specified deadline.
LO 2
P4. Application of qualitative and quantitative research methods
Research Methodology
It can be referred as the systematic and theoretical analysis of methods that are going to be used to conduct the study. It is a process used to collect, analyse and interpret information and data with an aim to reach at the final and accurate conclusion (Research Methodology,2018).
Research Design
This is a framework of methods and techniques under which the whole study is being carried out in a reasonable logical manner to solve the research problem. In the present study, descriptive research design is used as it is a theory based study. Thus, to describe the situation in detailed manner and gaining in-depth insight of variables of study, this research design is selected (Costley, Elliot and Gibbs, 2010).
Research Approach
It can be termed as a plan and procedure which provides a sense of the real world as it is a well-defined and comprehensive method which helps in developing the theories and concepts from empirical studies (Saunders, Lewis and Thornhill, 2012). Present study is based on inductive research approach being qualitative in nature that proves to be helpful in developing a pattern of meaning based on gathered information.
Research Philosophy
This can be stated as a belief regarding the manner in which information based on variables of study will be gathered, analysed, interpreted and used. It is the development of knowledge about subject of study with its nature as well as source. Interpretevism research philosophy is selected for present qualitative study i.e. for analysing positive cultural impacts of globalisation on marketing practices of M&S with the help of which small sample will be selected to make in-depth study on same (Kumar, 2014).
Data Collection
Primary and secondary both the sources are for present study wherein for gathering primary data, survey method is selected which is conducted through tool of questionnaire so that first time information can be collected. Further, under secondary sources, online and published articles with journals and books of different authors based on subject of study are referred (Flick, 2011).
Sampling
Under probability sampling, a small sample of 30 employees of marketing department of Marks and Spencer is selected with the help of random sampling technique where each respondent was having equal probability to get selected (Achari, 2014).
Data Analysis
Qualitative method of data analysis is used for the present study based on analysing positive cultural impacts of globalisation on marketing practices of M&S which is a theoretical subject. Tool of thematic analysis is used here which focuses on specifying, analysing and then recording different themes based on subject and then interpreting the same (Gray, 2009).
Ethical Considerations
Major ethical consideration to be followed in the present study is related to the information as whatever data is collected from respondents has to be kept confidential and should not be disclosed to any third party (Pettey, Bracken and Pask, 2017). Also, it should be used for the purpose of study only and must be true to the knowledge of respective individual.
Research Limitations
Main limitations of research associated with present study are related to cost, time and information. While gathering data from secondary sources, there are always some websites which require making payment to get access, leaving of which involves the risk of skipping some important information. Also, it is difficult to collect, analyse and interpret entire data available due to having stipulated time limit (Goward, 2015).
LO 3
P5. Appropriate tools and techniques for analyzing data
Questionnaire
1. Since how many years Marks and Spencer has been working overseas?
- 1-9 years
- 10-19 years
- 20-29 years
- More than 30 years
2. Globalisation has increased your company’s opportunities to increase customer base worldwide.
- Yes
- No
3. Does culture of different nations affect the functioning of marketing practices in your company?
- Yes
- No
4. Company has achieved its marketing goals effectually in different nations due to cultural impact of globalisation.
- Strongly disagree
- Disagree
- Neutral
- Agree
- Strongly agree
5. According to you, what is the main positive cultural impact of globalisation on marketing practices of M&S?
- International sales growth
- More sales revenue in foreign markets
- Increased profits with minimum marketing costs
- Effective utilisation of marketing and selling resources
6. What according to you is the satisfaction level of customers with international marketing practices of M&S?
- Highly unsatisfactory
- Unsatisfactory
- Neutral
- Satisfactory
- Highly satisfactory
7. What is the major positive cultural impact of globalisation on marketing practices of M&S?
- Improved relations
- Rise in the sales
- Increased revenues
- High goodwill of business
8. What is the major negative cultural impact of globalisation on marketing practices of M&S?
- Increase in competition
- Difficulty in forecasting demand
- Uncertainty of markets
- Unpredictable changes
9. As per you opinion, what is the major challenge that company faces due to cultural impact of globalisation?
- Language barrier
- Increased cost of operations
- Conflicts due to employee diversity
- Rise in competition
10. Kindly recommend suitable strategies to reduce the challenges that company faces due to cultural impact of globalisation.
- Thematic Analysis
1. Marks and Spencer is working overseas more than 30 years.
Interpretation
The above figure shows that Marks and Spencer is operating in market since a long time and having its overseas presence and operations from more than 30 years as per responses gained from maximum employees from the chosen sample size. It clearly shows that company must be having high impact of globalisation directly or indirectly on its functions as operating in more than one nation means to have influences on business with respect to their profits, customer base, competition, etc.
2. Globalisation has increased company’s opportunities to increase customer base worldwide.
Interpretation
It can be seen from the above figure that Marks and Spencer has gained a lot of opportunities in markets through getting globalised which ultimately resulted in increasing the customer base. As company is having presence worldwide due to globalisation, it has gained the benefit of large customer base which is leading firm to earn higher profits and revenues.
3. Culture of different nations affect the functioning of marketing practices in M&S.
Interpretation
It can be articulated from the above figure that being operating in different nations, Marks and Spencer is getting highly influenced with respect to the functioning of marketing practices. It is because; every nation has its own culture, values and beliefs according to which marketing department has to make decisions regarding making and selling of products as if these will go against their cultural beliefs, business may lead to get failure.
4. Company has achieved its marketing goals effectually in different nations due to cultural impact of globalisation.
Interpretation
From the above figure, it can be said that cultural impact of globalisation leads Marks and Spencer to attain their targets in an effectual manner in all nations where it is operating. It can be justified in a way that improved social relations is one of the major cultural impacts of globalization which helps in making firm able to maintain a positive brand value and thus, leading to attain the marketing objectives.
5. More sales revenue in foreign markets is the main positive cultural impact of globalisation on marketing practices of M&S.
Interpretation
The above figure shows that increased sale revenue in foreign markets is the main positive cultural impact of globalisation on marketing practices of M&S. Company makes various initiatives to make the products successful in foreign markets by which the revenue of business gets increased that results in making the firm grow and stay in market for longer span of time.
6. Customers are satisfied with the international marketing practices of M&S.
Interpretation
It can be articulated from the above figure that as per maximum respondents, customers are satisfied with marketing practices being carried out by Marks and Spencer at international level. Company is using many promotional techniques like advertising through digital media and for different nations, based on their cultural beliefs, distinct ads are made. Likewise, fashion followed for each nation is also based on their traditions which is resulting in making the customers satisfied with all marketing practices of M&S.
7. Improved relations is the major positive cultural impact of globalisation on marketing practices of M&S.
Interpretation
It can be clearly depicted from the above figure that there are many positive cultural impacts of globalisation on marketing practices of M&S among which the major one is of improved relations as per responses gained by maximum employees from selected sample size. With having operations in different countries and offering them products as per their demands, M&S is effectually maintaining healthy relations with them which is increasing the scope of business with large customer base and higher profits.
8. Difficulty in forecasting demand is the major negative cultural impact of globalisation on marketing practices of M&S.
Interpretation
The figure given above shows that along with so many positive cultural impacts of globalisation, there are some negative influences too which affect the business of Marks and Spencer. Among all negative impacts, having difficulty in forecasting market demand is one of the major one as with different cultures, values and beliefs being followed in distinct nations where M&S is operating, to make decision regarding what actually is to be offered becomes a complex task for business.
9. Rise in competition is the major challenge that company faces due to cultural impact of globalisation.
Interpretation
As per the figure given above, it can be said that cultural impact of globalisation creates many challenges for Marks and Spencer along with providing so many benefits among which the major one is increase in level of competition. As company is having operations in different countries, its rivalry with domestic organisations operating there has become intense and they are giving tough competition to business with respect to the quality offered and price charged.
P6. Drawing conclusion and providing recommendations
From the findings gained from data analysis, it can be said that being working for more than 30 years overseas, Marks and Spencer is gaining a lot of positive cultural impacts of globalisation with some negative influences too which is making business to grow at a rapid pace with gaining competitive edge over other competitor firms like Sainsbury, Waitrose, Asda, etc. It is enjoying major benefits from cultural impacts of globalisation like increased customer base, enhanced sales revenue, high satisfaction level of consumers and improved relations with other nations which are leading M&S to gain sustainability and high goodwill in market with customer loyalty towards business (Bayraktar and Ndubisi, 2014). However, there are some challenges too which company is facing because of cultural impact of globalisation like increased level of competition and difficulty in forecasting the market demand. Also, there are some other issues being faced by the firm like language barrier, employee conflicts due to diversity and increased cost of operations (Mattsson, 2016).
In order to cope up with the same, suitable strategies should be adopted by company like to overcome language barrier and employee conflict due to diversity issue, providing effective training and development sessions would prove to be helpful. Also, to reduce the cost of operations and beat competition, using advanced and latest technologies should be used by the firm to gain higher productivity at low cost (, and , 2015). Apart from that, to overcome the difficulty in forecasting market demand in different nations, effective market research should be conducted marketing team of M&S using tools like surveys, interviews and questionnaires.
LO 4
P7. Reflection on the value of undertaking research
The present study based on analysing positive cultural impacts of globalisation on marketing practices of Marks and Spencer proves to be highly helpful in making the firm aware with positive and negative impacts of operating in different nations due to culture being followed there. On the basis of same, firm will become able to frame and implement suitable strategies to strengthen the positive impacts and over the negative influences. Along with that, research conducted on present topic will be helpful for other firms operating in the retail industry of UK as well and they would also be able to enjoy the positive cultural impacts of globalisation and cope up with its negative influences on business (, 2011). Apart from that, different authors, Ph.D. scholars and professors would also gain help through this study as they can use its information in their research and teachings. Overall, this study has enhanced my analytical and presentation skills along with improving the knowledge based on concepts like cultural impacts of globalisation and marketing practices of retail organisations.
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CONCLUSION
It can be concluded from the above report that globalisation has various positive cultural impacts on the marketing practices of Marks and Spencer which are making firm able to sustain their position for longer span of time and remain in market with high competitiveness. Further, it has been articulated from the study that with offering products in different nations as per the culture being followed there, M&S is growing at a fast pace with gaining benefits like increased customer base as well as profits and revenue. However, it is leading to face some challenges as well like rise in competition, language barriers, increased cost of operations and conflicts among employees due to issue of diversity for which suitable strategies like training and development and using advanced techniques have been recommended.
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