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Managing a Successful Business Project

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Report on Managing a Successful Business Project

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Introduction

Globalisation refers to the process through which business organisation operates their operational activities at international market. It simply means interaction of people, government and organisations so that they could develop overall world together (Sakarya and et. al., 2012). This concept have completely transformed working pattern of business organisation as they are now able to influence international market and its customers which directly contributes in growth. Present report is based on British Telecoms, a multinational telecommunication company headquartered in London, United Kingdom. This company is offering mobile services, fixed lines, IT services, and broadband to its customers in more than 180 country. This report is going to describe about project management plan along with various factors like cost, scope, time, quality, communication, risk etc. of project. It also deeply elaborate about research methodology and its types for finding out appropriate conclusion for aims and objective (Acharya and et. al., 2017).

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Positive impact of Globalisation in general to the businesses in the UK is described below:-

  1. Economic Impact:There is a positive growth in an economy due to Foreign Direct investment in United Kingdom. Moreover, it also gives expansion to foreign direct investment and trade. Globalisation has lead to enhancement of integration within an economy as well as interconnection of various other factors like products, technology, services and information (Marsella, 2012).
  2. Cultural Impact:Globalisation has made it possible for organisation to work with people that belongs to different culture. It can be said that its beneficial for the business organisations as they can easily achieve their targeted goals in international market with multi cultural employees because these people can give better suggestion to management team while taking effective decision (Bratton and Gold, 2017).
  3. Ethical Impact:Ethics are considered as the values, beliefs, norms of every individual. It can be said that business organisation also owns some ethics which are considered by its management while executing business activities. It has been analysed that it is better for business organisations to follow their ethical values for expanding effectively in international market (Stredwick, 2013).

Background of the Research

Globalisation is a cycle of communication and combination between individuals, organisation as well as government bodies. It includes products, services and economic resources of data, technology and capital (Lee, Olson and Trimi, 2012). British Telecoms is one of multinational telecommunications company which operates its business operations in approximately 180 countries. This company is largest deliver of mobile services, fixed line and broadband services in UK. Along with this, it also gives television subscription and IT services. This company is successful in trading globally as it is easily attracting customers through their products and services by providing them satisfaction according to their requirements in market place. Globalisation has impacted different organisational functions like human resource depatment, Marketing, Operations and others of British Telecoms as when a company does expansion in its business in a foreign base it will extend to existing workers along with new workers. They can transfer new employees across globe to new vacancies (Busse, Aboneh and Tefera, 2014). Willingness of workers to do work overseas will also increase productivity and revenue of the business. Moreover, it can be said that all of business functions are positively impacting on growth of company. In relation to HR department, HR manager tend to hire employees from cheaper places so that they can offer them low wages for their work this will also helps in cost reduction in expenses of business.

Aims of the Project

“To evaluate the positive economic, cultural and ethical impacts of globalisation on different business functions”. A Case study on British Telecoms.

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OBJECTIVES:

  1. To determine the concept of Globalisation
  2. To evaluate the impact of Globalisation on different business functions of British Telecoms.
  3. To identify relationship between positive economic, cultural and ethical factors various other departments of British Telecom

Research Plan

Project Title

To evaluate the positive economic, cultural and ethical impacts of globalisation on different business functions.

Project Plan

Company Name:

British Telecoms

Cost

Cost is a necessary factor which is required by a firm to finish a project. British Telecom company incurs cost for importing and exporting of goods as well as services. Moreover it also spend money in labour and exchange of currency (Rogers and et. al., 2012). An estimated cost for this research is approximately 15K which is sufficient to execute to it in effective manner.

Scope

This research project of British Telecom has a wide scope in a market place. They can hire people from different countries at minimum salaries and it will also help them in expanding business globally.

Time

Time plays an important role for completion of a task. Researchers took three to four months for completing this project and research

Quality

Quality is an important aspect while conducting an effective research. In this research, research is gathering information from authentic sources manner in order to attain true outcome. (Briscoe, Tarique and Schuler, 2012).

Communication

Communication plays an important role because if information is not communicated in a proper manner then it will not give an effective results. In British Telecom, information should be delivered properly to stake holders, investors and customers in an adequate and proper manner.

Risk

While conducting this research, the two main risks which was faced was insufficient cost and time. Due to lack of time, researchers were finding difficulty in completing it in an effective manner.

Resources

For conducting this resource there were many resources used like human resources, advancements of technology, finance etc. These resources help in successful achievement of aim of research.

Type of Research

Primary and Secondary

Quality and Quantity

There are mainly two types of research methods which are adopted by researcher to conduct an effective research. Both of these methods are described as below:

Primary Research: In this method of data collection researcher gathers data directly from respondent by interacting with them personally. It includes surveys, questionnaires or interviews among people or smaller unit (Deresky, 2017). Mostly done by techniques of data collection and capturing data. It is done to collect new information about market place, to measure results of findings that are gather from secondary research in a market place. Expenses on primary research is dependent on project which one carries out. But when compared to secondary research this is must costlier. One of major reasons for this research to be expensive is that it needs field work and therefore consumes a lot of time (Primary Data Collection Methods,2018).

Secondary Research: This research includes conclusion, summary of present research. Secondary research is connected to primary research as information collected in primary research are utilised under this research (Bailey and et. al., 2018). Examples of secondary research involves encyclopedias, review articles and many more. It is cost effective because it utilise information which is already existing. Steps for conducting secondary research are.

·Identifying topic for which a research should be conducted.

·Determining sources for research

·Gathering current information or previous data.

·After gathering data putting it altogether and comparing is done.

·Lastly data is being analysed to check whether questions have been answered appropriately.

Qualitative Research:It is also defined as a market research method that concentrates on collecting information by open ended communication and conversational communication. Methods used for this research are one to one interview, focus groups, ethnographic research, case study research, record keeping and process of observation. This includes analysis and collection of data. They are created in a way in which it will help in revealing perception and behaviour of audience which are targeting according to a specific topic or subject.

Quantitative Research:It refers to investigation of phenomena through collecting data which is quantifiable or mathematical techniques. Researchers collects data from present as well as potential clients by making use of of sample methods and delivering it out to online surveys., questionnaires, etc. They use methods of which results can be given out in form. Later on changes and modification are done accordingly after determining and understanding these numbers to analyse or for future prediction of a particular product or service. There are basically two different methods of quantitative research which are: Primary Quantitative research method and secondary quantitative research

Work Breakdown Structure for the Project

Work Break Down Structure: WBS is an essential project which is deliverable that supervises and controls working of a team into manageable sections. It usually refers to scope into controllable clumps which team who is carrying out a project understands. Since each part of work break down structure gives elaboration to definition and detail. A Project Management Body of Knowledge gives a definition to work breakdown structure. Element of this structure might include a product, service, data or a set of combination of all these. This also gives the required framework which includes estimation of cost and control and also giving direction for control and schedule development.

Gantt Chart: This chart is a bar chart which is presented horizontally as a tool for control of production in 1917. Gantt chart was founded by an American engineer and social scientist, Henry L. Gantt. Moreover, it is mostly used in managing projects and it also delivers an illustration of schedule in graphical manner which is beneficial in planning, coordinating and tracking particular tasks in a project (Bergstrom and Randall, 2016). They are usually of simple versions which are designed on graph paper or either of automated complex versions that are designed using applications of project management like Microsoft Excel or Project.

Recommendation on findings

As per above report research, some beneficial recommendations can be given to British Telecom company which has been discussed below.

  • British telecoms can reduce costs and increase standards of living of people so that they can buy products at a high price too.
  • They can bring out high quality product a affordable price which a genuine buyer can purchase.
  • They can bring innovations in their products and services according to different countries cultures so that targeted customers of that country shows interest in their products and services.
  • British Telecoms can expand their area of trade so that they generate more productivity and revenue and also be known in other countries too.
  • Company can use digital technology to communicate with their customers, buyers and stake holders and this technology will also help in taking feedbacks from clients in improvising their product and services and giving satisfaction to customers.

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Conclusion to the research

As per the above mentioned report, it has been concluded that globalisation is a broad concept which have completely transformed working pattern of large business organisation. It can be said that globalisation is placing positive impact over human resource function of organisation as HR manager are now able to hire skilled employees from different countries in less salary rate. This result have been identified by adopting Primary and secondary research methods of data collection in order to attain right and authentic information from respondents.

REFERENCES

  • Sakarya, S. and et. al., 2012. Social alliances: Business and social enterprise collaboration for social transformation.Journal of Business Research.65(12). pp.1710-1720.
  • Stredwick, J., 2013.An introduction to human resource management. Routledge.
  • Busse, H., Aboneh, E. A. and Tefera, G., 2014. Learning from developing countries in strengthening health systems: an evaluation of personal and professional impact among global health volunteers at Addis Ababa University’s Tikur Anbessa Specialized Hospital (Ethiopia).Globalization and health.10(1). p.64.
  • Briscoe, D., Tarique, I. and Schuler, R., 2012.International human resource management: Policies and practices for multinational enterprises. Routledge.
  • Bailey, C. and et. al., 2018.Strategic human resource management. Oxford University Press.
  • Bergstrom, J. C. and Randall, A., 2016.Resource economics: an economic approach to natural resource and environmental policy. Edward Elgar Publishing.
  • Bratton, J. and Gold, J., 2017.Human resource management: theory and practice. Palgrave.
  • Acharya, B. and et. al., Partnerships in mental healthcare service delivery in low-resource settings: developing an innovative network in rural Nepal.em>Globalization and health,13(1), p.2.
  • Marsella, A., 2012. Psychology and globalization: Understanding a complex relationship.Journal of Social Issues.68(3). pp.454-472.
  • Lee, S. M., Olson, D. L. and Trimi, S., 2012. Co-innovation: convergenomics, collaboration, and co-creation for organizational values.Management Decision.50(5). pp.817-831.
  • Rogers, D. S. and et. al., 2012. A vision for human well-being: transition to social sustainability.Current Opinion in Environmental Sustainability.4(1). pp.61-73.
  • Deresky, H., 2017.International management: Managing across borders and cultures. Pearson Education India.
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