Managing A Successful Business Project - British Telecoms

The positive impact of Globalisation in general to the business in the UK

Economic impact: Globalisation increases competition in market which brings huge impact on the economy of the operated nation in terms of generation of employment opportunities, payment of taxes to the government etc. It directs makes positive impact on the standard of living of people which support growth in an economy of a nation (Boserup, Tan and Toulmin, 2013).

Cultural impact: Different nations have different cultures which needs to understand by an organisation who decided to expand its business. It can be possible through taking support of employees who have sufficient knowledge about particular culture so that the needs and requirements of people of new market can easily fulfilled. It supports in expansion of business in more successful manner.

Ethical impact: There are specific norms, beliefs and rules which are made for organisations with the purpose of directing them to perform in an ethical manner. It is easiest way of achieving good reputation at global level. Therefore, different business functions need to be directed to perform in right and ethical way (Crane and Matten, 2016).

Background of the Research

British Telecom is UK-based multinational organisation which is engaged in providing telecommunication services in more than 180 nations. It serves approx. 18 million customers in Great Britain due to which the company has recorded around 12.5 billion pound as net revenue in the year 2016. The company now looking forward to expand its business operations in other nations to increase their customer base and revenues. Such decision makes huge impact on their business functions due to requiring huge support from them in further expansion of business. Therefore, it is important to understand first the impact of globalisation on different business functions which are determined as under:

Operations: This is the department who is responsible to create synchronisation in different departments working for British Telecom. It minimises the chances of duplication of activities which drives an organisation to execute its decision of expansion within a specified budget. For this, proper communication is required to transmit information to all departments in an effective way (Doherty, Ashurst and Peppard, 2012).

Marketing: It is another important business function which provides their maximum efforts in supporting an organisation to establish its strong identity at global level. But it requires an appropriate budget which can affect their functions. Therefore, an organisation must ensure such function about sufficient availability of funds so as to build confidence among their members to perform in better way without facing any interruptions.

Human resource: HR is a department who is a liable to recruit and retain employees in an organisation for longer duration. Every nation has its own culture and geographical backgrounds therefore, it is important for such department to recruit candidates from operated nations who have knowledge about specific culture. It makes easy for company to identify and meet customers requirements of new nation in more effective way.

Accounting: Expansion of business requires lots of transactions which need to be recorded by an organisation to analyse the total cost incurred in expansion of business at global level. It directs an organisation to set their pricing strategies. Apart from this, an organisation must required to understand the accounting policies of different nations so as to record data accordingly. This will help stakeholders of company to get accurate knowledge about the actual financial position of company (Florén and Frishammar, 2012).

Aims of the Project: “To determine the positive economic, cultural and ethical impact of globalisation on various functions of an organisation”- A case study on British Telecoms.

Objectives:

• To acquire knowledge about the concept of globalisation.
• To determine the impact of globalisation on various business functions in British Telecoms.
• To identify the challenges faced by British Telecoms while expansion of business.

Research Plan

Work Breakdown Structure for the Project

Work Breakdown structure: This is the management tool which is presented in diagrammaticality format. Through this format, the research activities are divided into small parts in order to make easy for researcher to focus on completion of each activity in more effective and efficient manner. Work Breakdown structure is not limited upto the specified operations. Through such structure, there of proper chunk of activities which directs researcher to perform research activities in well desired manner (Furlong, 2013).

Gantt chart: It is defined as graphical representation specifying the progress of different activities executed under project. As there are several activities which are pre-determined by the researcher, thus to analyse their progress and remaining work, it help them in estimating the time and outcome received after the completion of entire research. Therefore, it is more useful for researcher to manage different activities of events so as to draw a valid outcomes at the end of the research.

Research Methodology and Data collection

Questionnaire: It is reliable method of collecting data from the selected respondents related with the topic of research. It is prepared by the researcher which contains the list of suitable questions which further to be asked from the respondents in order to determine their actual views and opinions related with the decisions of British Telecoms regarding its expansion at global market (Research Methodology, 2018). It assist researcher to draw a valid conclusion at the end of research so that the management of British Telecoms can take decision accordingly for the betterment of an organisation.

For conducting an appropriate research, 50 employees are taken as a sample of population whose views and suggestion can decide whether British Telecom can continue to its decision of expansion or can wait for the right time. These respondents are the stakeholders of an organisation which includes employees, customers, suppliers and other interested parties (Primary source and secondary source, 2018).

Questionnaire:

Secondary research: It is another method of research in which the data has been gathered from various sources such as books, journals, online websites etc. It is mostly adopt when the researcher have insufficient resources and time. But on the other hand, the reliability and accuracy of such data are less due to second-hand information. In the present research, both primary and secondary data has been opted to determine the valid outcomes at the end of the research.

Analysis and interpretation

Theme 1: Knowledge about the term globalisation

Interpretation- From the 50 respondents, 35 are having sufficient knowledge about the concept of globalisation whereas remaining 15 respondents doesn't know about such concept.

Theme 2: Satisfaction level of loyal customers of British Telecoms

Interpretation- Out of the 50 respondents, 38 respondents are much satisfied with the goods and services provided by British Telecom whereas remaining 12 people doesn't agree with them.

Theme 3: impact of globalisation on various business functions

Interpretation- Among 50 respondents, 15 respondents thinks globalisation brings huge impact of cultural factors on different business functions whereas 20 respondents thinks economical globalisation makes huge impact on functions of business. The remaining 15 respondents thinks different as according to them ethical brings huge impact on the business functions while globalising their business.

Theme 4: Types of entry mode to globalise the business

Interpretation- Out of the 50 respondents, 12 respondents have views that British Telecom should adopt joint venture methods while entering new market whereas other 20 respondents thinks strategic alliances is the better option to enter. The remaining 18 respondents thinks that British Telecom should enter into new market through exporting.

Theme 5: Benefits of globalisation on business functions of British Telecoms

Interpretation- Among 50 respondents, 16 respondents thinks globalisation brings beneficial outcomes to British Telecom in form of increasing international productivity whereas 20 respondents thinks lowering prices to consumers brings beneficial result to business functions of company. The remaining 14 respondents thinks increasing awareness among consumers is the major benefits of globalisation.

Theme 6: Positive impact of globalisation on British Telecoms

Interpretation- Out of the 50 respondents, 22 respondents thinks globalisation provides new opportunities for locals whereas 18 respondents have views that it decreases the high inflation rate. The remaining 10 respondents thinks that globalisation increases household income of people.

Theme 7: Challenges faced by British Telecoms at the time of globalisation

Interpretation- From the 50 respondents, 14 respondents determines new regulations as the biggest challenges towards British Telecom while globalising their business whereas other 16 respondents determine risk of proprietary information theft as the major challenge. The remaining 20 respondents thinks different culture brings difficulties to an organisation.

Theme 8: Ways to overcome future challenges

Interpretation- Among 50 respondents, 25 respondents have views that British Telecom should analyse market trends to overcome future challenges whereas other 15 respondents prefer an organisation to adopt employment engagement programs. The remaining 10 respondents thinks that knowledge about local ethical policies is an effective way to deal with the future challenges in an effective way.

Theme 9: Impact of globalisation of reputation and goodwill of British Telecoms

Interpretation- Out of the 50 respondents, 28 respondents are agree with the statement that globalisation enhance the brand image and reputation of British Telecom whereas other 12 respondents are highly agree with such statement. The other 10 respondents are doesn't agree with the same statement.

Recommendation on findings

From the above data analysis, there are few things which need to be consider by British Telecom before continue to its decision of expansion to other nations. Such things are discusses as under:

• British Telecom should make their employees more capable to handle grievance and issues arises due to complexities of business environment. For this, the management should conduct training and development programs for its staff at both inside and outside of the workplace. It must also required to direct them to perform in an ethical way and respect cultures of different regions so as to maintain loyalty of customers.
• British Telecom need to conduct employee engagement programs so as to help them in understanding their roles and responsibilities while expansion of business. It brings motivation among workers to work hard and give their best efforts.
• Marketing department should make relevant changes in their existing marketing policies due to having different culture and social values of various geographical region. For this, it must required to more use of social media, portal application etc. which can be accessed anytime and anywhere.
• Human resource managers should recruit new candidates who are having sufficient knowledge about different culture and rituals so that the company can easily maintain healthy relationship with the customers of operated nations for longer period of time.

Conclusion to the research

It has been summarised from the above project report hat globalisation makes an organisation more capable to compete with their rivals as it increases their brand image and operations at global level. There are some influencing factors arises in business environment which can affect the business functions of an organisation due tp which it is important for management to hire a researcher who brings sufficient information about the market fluctuations. At the end of the research, the valid outcome can be drawn which assist an organisation to think whether to continue to its decision of expansion of business or can wait for the right time. Get the best assignment writing service at the best price? Contact now.

Read also:
UNIT 6 Managing A Successful Business Project

REFERENCES

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