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Managing a Successful Business Project

15 Pages 3735 Words 1224 Downloads

Introduction

Globalisation refers to a conceptual process by which a company can operate its business  at global scale. It helps in reducing high inflation rates and giving advantage to customers to gain wide variety of products on affordable price. It also increases real wages by minimising the cost of consumption as well (Buhalis and Costa 2006). This report is going to make a discussion on how company can move its business on global scale. For this purpose, Jaguar Cars Ltd. has taken which deals in manufacturing sector and produces luxury vehicles. To enter into emerging marketplace, this assignment has formulated specific aims and objectives with a project management plan. Furthermore, to gather relevant data, process of primary and secondary research has also highlighted. Along with this, some recommendations are also given for Jaguar Cars Ltd. to accept the concept of globalisation for increasing profitability.    

Task 1

P1 Project aim and objectives

Globalisation is considered as boon for organisation, consumers and economy of a country. It helps in improving the quality of management and working condition of human resources in a company (Rugman,  2012) . This concept also reduced gender based wage discrimination as well as give opportunities to female workers to gain equal employment in international organisation. Globalisation has been a great force of launching new technologies and creating modifications in existing products to make them more valuable for consumers.

In context with Jaguar Cars Ltd., it has established business in 1935 in England, UK. In order to manufacture best innovative cars, this company has merged with Land Rover in 2013. Global trade is taken as casualty of increasing sales performance of a company  (Hopkins, 2012). Therefore, if this enterprise adopt the concept of globalisation then it will boost its output in more economic manner. It also give opportunity to customers to get products of other countries on easy rates as well.

  • Topic: “To identify the economic benefits of globalisation for business and consumers” A case study on Jaguar Cars Ltd.

Aim: “To ascertain the advantages of Globalisation for Jaguar Cars Ltd. and its consumers”.

Objectives:

The main objectives of present research are mentioned as below:  

  • To evaluate the impact of globalisation on business.
  • To discover the advantages of globalisation for Jaguar Cars Ltd.   
  • To identify the problems arise in Jaguar Cars Ltd. by moving business on global scale?
  • To recommend ways by which Jaguar Cars Ltd. can enter into new emerging market of other nations.

Research question:

  • How globalisation impact on business?
  • What are the advantages of globalisation for Jaguar Cars Ltd.?
  • What are the problems arise in Jaguar Cars Ltd. by moving business on global scale?
  • What are the  ways by which Jaguar Cars Ltd. can enter into new emerging market of other nations?

P2 Explain project management plan that includes cost, time, scope, communication, risk, resources and quality   

In managing and developing a project, concept of PMP (Project Management Plan) plays an important role. It defines approaches require to deliver the scope of project and how it should be monitored, executed and controlled in appropriate manner. PMP also acts as blueprint which provides specific direction to investigators to attain aims and objectives.   

Scope of project: 

This component of management plans reveals the scope of a project for a company. In context with present project i.e. based on identifying the benefits of globalisation for business and consumers, helps Jaguar Cars Ltd. in formulating effective strategies. Through this process, its managers can make business development plan for moving organisation into emerging market of other countries (Malecki and Moriset, B 2007). This would help in expanding business at global scale and increasing sale performance as well.

Resource:

It entails resources used for completion and execution of a project within an organisation. It includes raw materials, equipments, technologies, human resources and adequate amount of funds. Arranging all these resources help in completing project on time.

Cost:

 This part of PMP plan reflects cost required to implement a new project within organisation (Cantwell, 1995). In order to move business into new marketplace like China, Jaguar needs to make investment of near about 22k Euro as described in following manner:-

Particular

Amount

Initial Investment

100000

Expenses:

 Operational Activities

 R&D Activities

Cost to IT Experts

  Licensing Fee

 Maintenance

 

24000

10000

18000

8000

10000

Closing Value

22000

Risk: 

As every new project is associated with various risks that impact on profitability of business in negative manner. Therefore, it is necessary for managers of Jaguar Cars Ltd. to make risk management plan for availing benefits of globalisation. It provide guidelines to team-members to use alternative strategies in case of discrepancy (Buckley,2009) . This would help in minimising risk of failure of a project. Along with this, it also states managers of this company to use add more value in its products before launching in new marketplace.

Quality control: 

It assists investigators to concern on quality of project by monitoring on each phase of globalisation. This would help in obtaining best outcomes of entire project in efficient manner. With this assistance, whatever technology is going to take for moving business in new marketplace and promotional activities should be of best quality (Buckley and Ghauri 2004). This would help in creating awareness among international customers about products or services. With this assistance, managers of Jaguar gain advantages to enhance customer base and sales performance as well.   

Communication:

For working on a project and complete it on time, it is essential for project managers of Jaguar to concern on communication system. With this assistance, they can develop and manage an easy flow of transformation of messages among team-members. By adopting effective way of communication like mobile technology, group-members can connect with each other and share relevant information on time. This would help in reducing occurrence of misconception which may impact negatively on project.

Time:

 It is the most important component of management plan that entails period under which a project will be completed. In this regard, for formulating aims and objectives, conducting primary and secondary research, addressing issues, analyzing data and more, near about four to six months are required (Ballou, 2007) .

P3 Explain work breakdown structure and Gantt chart

As it difficult for completing major activities within set period of time, therefore, generally project managers use two main concepts (Dunning, 2014). It includes Work Breakdown Structure and Gantt Charts, functions of both are interrelated with each other. WBS structure refers to a deliverable-oriented breakdown of activities of a project i.e. a task is divided into some manageable sections.  It also provided a necessary framework in order to estimate detailed cost as well as control overall schedule of project also.

(Source: Work Breakdown Structure, 2018)

 After segmenting the major activities into small components, project makers adopt Gantt Chart technique. It is used to set entire smaller activities in a proper time-frame (Crane and Matten,2016). In context with project of Jaguar Cars Ltd., a Gantt Chart is shown below. It entails some sub-activities of project management plan such as problem identification which requires minimum two days for formulation. For choosing suitable topic, manager of this company will take maximum five days as whole project is based on the same. Furthermore, 7 days are required for developing aims and objectives, 12 days to conduct literature review and near about 15 days for collecting relevant information, data analysis, findings and outcomes etc.

 

Task 2  

P4 Carry out small scale research

Research methodology is considered as most essential part of a project. It provides various techniques to collect data and relevant information of a specific topic. It includes qualitative and quantitative data, primary and secondary resources etc. through which  investigators can address aims and objectives of a particular project. They can also draw valid conclusion from the same as well.

Qualitative research methodologies:

In this research method data is collected by an investigator through behavior, perception and communicating with peoples (Prahaladand Ramaswamy 2004). This research method is used when there are less number of respondents and it is time and cost consuming, as compared to other methods of data collection. It is used specifically when the topic of research is based on individuals behavior and perception.

Quantitative research methodologies:  

This research methods is used when a investigator wants to reach its conclusion with the helps of facts and numbers. In this method, researcher used mathematical tools to achieve its conclusion related to the research topic. Questionnaires and surveys are the methods that is used by the investigator to collect quantifiable data.

In order to acquire more relevant information, researchers of Jaguar Cars Ltd. have also used generally used primary and secondary resource methods as shown below:-

Primary data collection method:

In this method, data is collected by an investigator from first hand sources like interviews and surveys. It is the original data collected by researcher with a specific purpose related to its research topic. It is time consuming and expensive as compared to other sources of data collection methods. The data collected in this method is appropriate because researcher doesn't use index while collecting data for its research.

Secondary data collection method:

It is the type of data which is readily available from other sources like books, journals and studies by authorities (Kaul 2003). It is less expensive and time consuming as compare to data collected through primary research. The accuracy of data collected by investigator through secondary data is less as compared to primary data collection methods.

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Total Population:

It refers to total number of potential customers who are taken to carry out an investigation. In general, near about 100 participants are taken whose perception helps in addressing the main issues of a research.

Sample size:

This part entails the number of respondents included in a sample who are chosen from total population. In context with present project, 50 participants are included in sample size.

Sampling method:

It is stated as a process to choose participants in a sample from total population. Generally, it includes three main methods that are- Simple, Stratified and Cluster Random Sampling. Under this present research, project makers of Jaguar Cars Ltd. have adopted the concept of simple random sampling for selecting a sample. With this assistance, number of participants are chosen randomly from total population.

As per present scenario, managers of Barclays have used primary method for collecting the data and analyse it in quantitative manner. For this purpose, 50 respondents are taken to analyse the opinion of potential customers.  

QUESTIONNAIRE

NAME:

AGE:

ADD:

GENDER:

MAIL ID:

Q1) Are people aware with the concept of globalisation?

· Yes

· No

Q2) Does globalisation impacts on performance of a company?

· Yes

· No

Q3) What are the main challenges faced by Jaguar Cars Limited due to globalisation?

· Political instability

· Global Competition

· Trading Policies

Q4) What are the ways to overcome from challenges of globalisation for Jaguar Cars Limited?

· Effective decision-making

· Keep track on political adherence

· Offer innovative products on competitive price rates

Q5) What are the economical benefits of globalisation for Jaguar Cars Ltd.?

· Increased trade

· Increased capital and labour mobility

· Enhance supply chain insight

Q6)  What are the economical benefits of globalisation for consumers?

· Variety of commodities

· Higher quality of products

· Lower costs

Q7) Is it beneficial for Jaguar Cars Ltd. to enter into new emerging marketplace of other countries?

· Yes  

· No

Q8) Are you satisfied with the services provided by Jaguar Cars Ltd.?  

· Yes

· No

Q9). Recommend some ways by which Jaguar Cars. Ltd. can launch its products into global scale...

Task 3

P5 Research analysis

Theme 1: Globalisation is a big concept in today's business world

Q1) Are people aware with the concept of globalisation?

Frequency

· Yes

40

· No

10

 

Interpretation: It has interpreted from this graph that globalisation is a wider concept as major portion of respondents viz. 40 out of 50, are familiar with this concept. They know how it helps organisations in expanding their business market. While, rest of them, that are near about 10 didn't

Theme 2: Globalisation directly impact on company's performance

Q2) Does globalisation impacts on performance of a company?

Frequency

· Yes

35

· No

15

 

Theme 3: Political instability is the main challenge of globalisation

Q3) What are the main challenges faced by Jaguar Cars Limited due to globalisation?

Frequency

· Political instability

20

· Global Competition

15

· Trading Policies

15

Theme 4: Offer innovative products helps to overcome from globalisation issues

Q4) What are the ways to overcome from challenges of globalisation for Jaguar Cars Limited?

Frequency

· Effective decision-making

12

· Keep track on political adherence

18

· Offer innovative products on competitive price rates

20

 

Theme 5: Benefits of globalisation for business

Q5) What are the economical benefits of globalisation for Jaguar Cars Ltd.?

Frequency

· Increased trade

14

· Increased capital and labour mobility

18

· Enhance supply chain insight

18

 

Theme 6: Benefits of globalisation for consumers

Q6)  What are the economical benefits of globalisation for consumers?

Frequency

· Variety of commodities

15

· Higher quality of products

18

· Lower costs

17

Theme 7: Globalisation helps Jaguar Cars Ltd. in expanding its business market

Q7) Is it beneficial for Jaguar Cars Ltd. to enter into new emerging marketplace of other countries?

Frequency

· Yes

32

· No

18

 

Theme 8: Globalisation is a big concept in today's business world

Q8) Are you satisfied with the services provided by Jaguar Cars Ltd.?  

Frequency

· Yes

28

· No

22

 

P6 Reflection on the research

Decision making is important aspect in every project when group is involved in it. When a group is working on common project, then sometime conflict arises between ideas like which idea should be worked on. Foremost challenge is selecting  innovative idea from set of ideas given by each member and implementation of that. I feel pressure when working in a group as communication plays vital role and with that comes many responsibilities. When we got an idea the first challenge was from where to start and how to start, for this we developed various strategies and assessing them. Time management is also important factor as each project is bound to some time limit and completion of that project completely depend on proper strategies and efficiently implementing those strategies. When reports are made in a group or team, project is divided into small tasks, binding up those tasks is also a challenge. Working on this project helped me to increase my presentation and communication skills.

References

  • Crane, A. and Matten, D.2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
  • Buckley, P.J. and Ghauri, P.N., 2004. Globalisation, economic geography and the strategy of multinational enterprises. Journal of International Business Studies. 35(2). pp.81-98.
  • Cantwell, J., 1995. The globalisation of technology: what remains of the product cycle model?.Cambridge journal of economics. 19. pp.155-155.
  • Prahalad, C. K. and Ramaswamy, V., 2004. Co-creation experiences: The next practice in value creation. Journal of interactive marketing. 18(3). pp.5-14.
  • Kaul and et. al., 2003. Providing global public goods: managing globalization. Oxford University Press.
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