• Internal Code :
  • Subject Code : HI6008
  • University : Holmes Institute
  • Subject Name : Business Research

Research Project: What Are the Impacts of Globalization on Business Growth and Expansion of Micro and Small Businesses in UK

Table of Contents

Introduction

Research background

Problem statement

Research aim and objective

Research objectives

Research rationale

Literature review

Downsides of globalisation on small companies

Local competition reaching International standards

Research methodology

Research philosophy

Research approach

Research design 

Data collection

Data sampling and analysis

Reference List

Introduction

Research background

This research study will encompass the impact of globalisation on the growth as well as expansion of the micro sector as well as small business companies in UK. UK is a flourishing market with a significantlylarge market space. access to this domestic market also provides small companies the access to the wider global market. The remote staffing policy is available to the UK based companies because of the high level of improvement in internet utilisation of both customers and sellers. This helps small businesses to increase their flexibility in business and also reduce cost as well as revenue (Dunget al., 2018).

Globalisation can also be perceived as a business equaliser which also provide smaller brands with the same exposure and opportunities which are available to the bigger brands in the same industrial domain (Ijecm.co.uk,2020). However, this research study will also determine the major problems that can be faced by the smaller companies when they utilise the opportunities of globalisation.

After expansion into the international business, the major winters will require large scale production of consumer goods, if the business is in the same industry. Therefore, it will require large scale operation and many small companies do not have the facility for the same (Kostovski and Hristova, 2016). Nations like China enables all medium and small organisations to potentially empower in for mass production which enables the country to make export to all Nations at moderate cost. lack of the same infrastructure in UK creates a big problem for the smaller brands.

Problem statement

One of the major problems facing organisations in emerging globalisation is that market flood creates significant competition in the market where other similar brands as well as the larger counterparts are also trying to set up their business. The Global market chain reactions can also be perceived in this context. For evidence, Sainsbury’s is experiencing the impact of Brexit in UK, which is why downturn as well as reduction in share price is also experienced by Argos which is a medium sized Organisation in UK.

Research aim and objective

The aim of this research study is to identify as well as analyse the impact of globalisation on business growth and expansion of the micro and small businesses in UK

Research objectives

  • to identify the impact of globalisation on the business growth and expansion of micro and small businesses in UK

  • to understand the impact of globalisation on business growth and expansion of micro and small business in UK

  • analyse the impact of globalisation on the business growth and expansion of micro and small businesses in UK

  • To recommend better Strategies for generating positive outcome from the impact of globalisation on business growth and expansion of the micro and small businesses in UK

Research rationale

Globalisation is a major issue which has created significant impact for organisational growth. the multinational organisations have significant venture capital which is why they can afford expansion without experiencing impact of the factors of globalisation in the different nations. Nevertheless, these factors have most significant impact on the business growth of the smaller companies’ rich look forward to the globalisation-based factors like free trade area, tax exempted business opportunity as well as mass export and import facilities of different countries in order to get tender of big supply.

Literature review

Downsides of globalisation on small companies

Market flooding with opportunistic companies is one of the biggest factors impacting the smaller organisations in the country. Hindustan action comedy can be highlighted that small organisations will face difficulty within the traffic of the large-scale business organisations delivering consumer goods. Peck et al., (2019), provides an opinion in this context that this competition is most fierce in the consumer goods category only. however, almost all Nations perceive that they should follow that Chinese model of mass export (Stackhouseet al., 2019).

China has created the scope of mass production from the end of all smaller organisations which are provided with resources and utilities in order to enable organisations to deliver large scale production whenever required. The government also patronizes exporting of mass volume from these organisations at a moderate average cost whenever required (Liñánet al., 2019). This is the reason why, the emerging companies in Europe has not been able to develop this potential business model. Lack of help from government in patronizing the smaller companies can be highlighted a major reason behind this.

Henceforth, can also be discussed in this category that superior customer service reduction in prices and so on which are the implemented Strategies for acquiring customers by the smaller brands in UK will not help them in the international domain at all. Craneet al., (2019), highlight that in the international domain price will be considered as the index of quality which is why it cannot be highlighted that price competitiveness will work as a popular strategy in the small organisations.

Local competition reaching International standards

Local companies to find it easier to maintain competition at the community level as they have a clear Idea regarding what to do in order to avoid competition and attract the customers. Nevertheless, the emergence of online sales has helped the organisations to clear the traffic and directly reach customers whenever required (Erixon, 2018). Therefore, in this context it can also be highlighted that the same competition can easily exist in the international front without any means available to the organisations to avoid and clear the traffic to reach customers. therefore, in this category, it can be highlighted that development in product quality is the only available opportunity for the organisations to reduce traffic.

Research methodology

Research philosophy

In the modern academic research studies, it can be highlighted that positivism as well as interpretivism are the two most used research philosophy. However, in this case the researcher will select the positivism philosophy because it helps in developing and unbiased research outcome where the entire division is based upon the research findings.

Research approach

The two widely used research approach in the recent academic research studies including inductive as well as deductive approaches. In this case the researcher is going to develop Data collection process which will help in collection of hard data on a first hand bases from respondents. therefore, it can be highlighted that selection of deductive approach is justified in this case.

Research design

The two popular Research design for academic research studies are exploratory as well as explanatory research designs. In this case the researcher will undertake explanatory Research design as the individual will conduct explanatory research on the basis hard data which is collected in statistical form.

Data collection

In order to collect the research data, the researcher will depend on primary qualitative and quantitative research. in order to conduct primary qualitative research study, the researcher will speak with managers of three small organisations in UK. In order to contact primary quantitative research study, the researcher will collect a group of respondents selected on the basis of non-probability random sampling method.

Data sampling and analysis

The research sample for quantitative research society is 38 employees of small companies in UK selected on a non-probability random sampling method. Again, the convenience sampling method will be used for selecting three managers from different organisations in UK. In order to analyse quantitative data, raw data will be converted into tabular and statistical form which will be later analysed through analytical method. The transcriptional method will be used for analysing research data collected from managers.

Reference List

Crane, A., Matten, D., Glozer, S. and Spence, L., 2019. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press, USA.

Dung, N.T., Hanh, P.T.M. and Phuong, P.T., 2018. Competitiveness of vietnamese agricultural enterprises in the globalization. Asian Journal of Science and Technology, 9(11), pp.8992-8997.

Erixon, F., 2018. The Economic Benefits of Globalization for Business and Consumers. European Centre for International Political Economy.

Ijecm.co.uk, (2020). Available at: http://ijecm.co.uk/wp-content/uploads/2016/11/41134.pdf (Accessed: 1 May 2020).

Kostovski, N. and Hristova, S., 2016. GLOBALIZATION AND SMALL BUSINESSES AND ECONOMIES-CHALLENGES AND OPPORTUNITIES. Annals of'ConstantinBrancusi'University of Targu-Jiu. Economy Series, (4).

Liñán, F., Paul, J. and Fayolle, A., 2019. SMEs and entrepreneurship in the era of globalization: advances and theoretical approaches. Small Business Economics, pp.1-9.

Peck, F., Jackson, K. and Mulvey, G., 2018. Regulation and growth-oriented small businesses in North-West England. Journal of Small Business and Enterprise Development

Stackhouse, M.D., Misra, K. and DelVecchio, M., 2019. Impacts of globalization on worker injury in host countries. Journal of Global Responsibility.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Business Research Assignment Help

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