Effect Of Globalization On Local Businesses

By Samit Banerjee
03-03-2019
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MANAGING A SUCCESSFUL BUSINESS PROJECT

The potential impact of McDonald’s business operation on local restaurant business in Kent

 

 

 

 

 

 

 

Table of Contents

Introduction. 3

Part 1: LO1: Project Proposal 4

Project Title. 4

Aims and Objectives. 4

Rationale. 4

Approach. 5

Project Plan. 5

Conclusion


References 

 

 

 

 

 

 

 

 

Introduction

McDonald’s is an international chain of fast food restaurants, which is having a global impact in the industry. Due to the growing trends of globalization, the impact has become more effective and notable. Being one of the oldest organizations related to the food industry, it has earned capacious fame and hence, customers’ faith has increased. Although this is one of the achievements for the food giant, yet, it directly affects the business volumes of local restaurants and food parks located near it. In this report, a detailed yet comprehensive study is done in which all the factors related to business growth and prosperity of local restaurant at Kent get affected due to the presence of a multinational company like McDonald’s. In-depth analysis of the situation is done in reference to Hilltop Restaurant, which specializes in fast food and multi-cuisine foods. Research of the two companies, namely, McDonald’s and Hilltop Restaurant shall be conducted to analyze and find the segments of the business of the local restaurant, which gets affected due to the presence of the global giant.

 

 

 

 

 

 

 

Part 1: LO1: Project Proposal

Project Title

The title of the project is selected as “Potential impact of McDonald’s business operation on the business environment of Hilltop Restaurant, Kent”.

Aims and Objectives

Aim

The project aims towards research, analysis and implementation of new business policies and strategies over the business operation of small and local restaurants to compete with the same of the multinationals like McDonald’s operating in the region. The focus is also given towards the effectiveness of new plans to escalate business volumes by bringing positive impact on sales and profit.

Objectives

Objectives of the project are as follows:

·         To know customers choice, preference, and their expectations when they select any restaurant to visit.

·   To formulate strategies and plans for small and local restaurants for facing competition with multinational companies.

·         To provide recommendations to small and local restaurants for their smooth and sustained business growth.

Rationale

The subject matter of the project as provided by the University is related to analysis, planning and implementation of new ideas and strategies related to business development of small and local restaurants at Kent against the tough competition they face from the business operations of multinationals like McDonald’s. At the verge of maximum impact of globalization, McDonald’s is a global brand has a substantial number of outlets in Kent whose business activities are directly affecting the small and local restaurant business of the region. Primary and secondary research is conducted to ascertain and determine the figures and facts related to customer choice and preferences, sales and margin volumes and effectiveness of the policies adopted by both McDonald’s and Hilltop Restaurant. All analysis and research are done keeping all factors related to time, cost and resource management of both the organizations to get a clear picture of their business operations, which facilitates comparison, and framing of new plans and strategies according to the aim of the project.

Approach

The research conducted in this project is related to the analysis of strategies and business practices prevalent in the business operations of McDonald’s and Hilltop Restaurant. Hence, a deductive approach with optimal use of methodologies graphs and charts to make the project more accurate and productive.

 

Project Plan

Project Definition

The project covers all the aspects related to the comparison, analysis and framing and implementation of strategies in the business operations of Hilltop Restaurant, Kent as compared to the same of McDonald’s outlets in the locality. The project starts with a problem statement, which is clarified by using various scopes and deliverables as discussed in the project. Various assumptions are adopted for proper scaling and measure of the project success. These are set in favour of the implementation of new ideas and strategies, which can help small and local restaurants to counter the competitive sprees they face from multinationals like McDonald’s.

Problem Statement

Due to globalization, chains of restaurants and food parks have created a great impact on the local and global market all over. Multinational restaurant and food chains are marking their presence throughout due to which small and local restaurants are facing a business setback. This project attempts to solve the problem faced by Hilltop Restaurant located at Kent (UK) due to the business presence of multiple McDonald’s outlets in the locality.

Project Strategy

The strategies used in this project is in relevance to performing all concerned research and survey which can help the project team to collect necessary data in the analysis of the business operations and outcomes of the business units dealt with. Time management and optimum modes of communication are also strategies of the project to harness its quality of deliverance.

Project Objectives

The project objectives can be broadly classified as follows:

·  To enable Hilltop Restaurant face and compete with the business operations of McDonald’s outlets located in the region.

·    To provide necessary strategies and solutions to formulate a productive business plan aimed towards business growth and development.

·   To complete the project within a time span of 4 months without exceeding the budget of 500 pounds.

Deliverables

Tangible (Products)

·         Introduce new food items, preferably local cuisine with special discounted offers which are not available at McDonald’s outlets.

·         Increase the quality of the food dish or beverage which is having the greatest demand in the region without increasing its price.

Intangible (Services)

·         Introduce new concepts of food delivery process with some offers which can be availed by customers ordering some specific food dishes or beverages.

·         Enhance the sophistication of the interior ambience and keep kids-oriented sections to attract them.

Project Scope Statement

Included Scope

·         The project can be useful for small and local companies to face business challenges due to the presence of multinational companies.

·         The project carries concepts and methodologies which can boost the confidence of small business owners and units.

·         The project explains the option of exercising globalization practices for small businesses.

Excluded Scope

No activity carried out in this project is intended to discourage or reduce the motivation of multinational companies in serving people or carrying out their business.

Success Criteria

The success of the project can be measured by analyzing the trend of business growth of the organization on which the strategies and plans developed in this project are implemented. The period of monitoring the trend is of 1 year. The analysis should be made in reference to the performance of the multinational companies.

Project Assumptions

For achieving success and desired outcomes of the project, it is having the following assumptions:

1.      The project activities are carried on as planned by the project leader or manager.

2.      All project activities follow the timeline specified and the project is completed within the stipulated period.

3.      All project activities are completed successfully by maintaining the budget of the project.

4.      The project shall successfully meet its aims and objectives.

Implementation Plan

For implementation, the project plan would be followed precisely. All activities would be done giving the aims, objectives, scope and deliverables of the project the greatest priority. The work breakdown structure (WBS) and Gantt Chart are the major guides of tasks and activities which would facilitate the execution of the project effectively. 

Work Breakdown Structure

                         Project Breakdown Structure

(Source: Created by Author)

Project Timeline

Potential Impact of McDonald's business operation on Hilltop Restaurant, Kent (UK)

DURATION (days)

START DATE

END DATE

DESCRIPTION

02-04-19

10-04-19

Project Initiation

8

11-04-19

30-04-19

Project Planning

19

01-05-19

12-05-19

Trial and Feedback

11

13-05-19

04-06-19

Feedback Analysis and Plan Modification

21

05-06-19

17-06-19

Training

12

18-06-19

30-06-19

Project Closure

12

 

Project Processes

The project process follows a sequence of activities, which starts, from project initiation till the training of the managers and supervisors of Hilltop Restaurant, Kent (UK). Starting from the project initiation, the process is followed by various steps of project monitoring and control through various stages of trials and modifications. These steps assure better control over the project team and the activities. As soon as the project seems to have successfully accomplished the desired aims and objectives, the project closure is done.

 Communication Plan

What

 Target person(s)

Activities

Time

Process

Report

Project Manager and Supervisor

Assigning tasks and monitoring till their completion with frequent rounds of checks and discussions

Once every alternative day

Open discussion with team members, maintaining the checklist of target tasks and activities.

Meeting

Team Members

Disclose and discuss the growth and advancement in the respective tasks assigned

Normally once a week but can be called immediately in cases of emergency

Updates of assigned project activities and tasks

Discussion

Team Members

Discussion of all factors or aspects which can cause hindrance in executing project activities and frame mitigation plans.

Once a week

Evaluation of all associated reports and scan for any risk factor associated in terms of timescale, cost or operations of the project.

 

Conclusion

The project deals with all methods and activities related to the in-depth analysis and detailed comprehensive study of comparison of business operations of Hilltop Restaurant and outlets of McDonald’s at Kent, UK. Due to globalization, the presence of multinationals affects the business of small or startup firms of any locality, but proper methods of business accountability and management can help such organizations frame market and customer-friendly strategies to boost their business volumes. The project encompasses all aspects of accuracy and precision to succeed in providing such strategies and solutions to Hilltop Restaurant of Kent and comprises of all cross check parameters to determine the effectiveness of the project.

References

Bridges, G., 2015, Grounding Globalization: The Prospects and Perils of Linking Economic Processes of Globalization to Environmental OutcomesEconomic Geography78 (3): 361–86.

Foroohar, R., 2016, Globalization's True Believers Are Having Second ThoughtsTIME. Retrieved July 12, 2018.

Held, David, ed., 2004, A Globalizing World?: Culture, Economics, Politics (2nd ed.). London; New York: Routledge, in association with the Open University.

Heyne, Paul; Boettke, Peter J.; Prychitko, David L., 2014. The Economic Way of Thinking (13th ed.). Pearson. pp. 102–06. 

Hopkins, A.G. (ed.), 2014,. Globalization in World History. London: Norton, pp. 4–8. 

James, Paul, Gills, Barry, 2015, Globalization and Economy, Vol. 1: Global Markets and Capitalism. London: Sage Publications.

James, Paul, Patomäki, Heikki, 2016, Globalization and Economy, Vol. 2: Global Finance and the New Global Economy. London: Sage Publications.

James, Paul; Palen, Ronen, 2016, Globalization and Economy, Vol. 3: Global Economic Regimes and Institutions. London: Sage Publications.

 

 



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