LBPG5018 RESEARCH METHODOLOGY
Introduction/Background statement
In the present days most organisations are using the globalisation method in order to enhance their business outcomes and gain in the global competitive market./ Additionally, it has been seen that the application of the globalisation method has provided impactful support for increasing their business circumferences in the global competitive market. Additionally, not only the big size business organisations are used to following the global trending for enhancing business outcomes. As a result of this, the application of the method helps to incise the business circumferences and strong position in the global competitive market. After analysing the following the global competitive market rate and utilisation of the business trending regarding activities, it has been seen that the UK has followed the globalisation method approximately 89.31% (Statista.com, 2021). Contextually, the application of the following globalisation method has provided essential support in the case of managing all the managers supporting the global competitive market.
Figure 1: Globalisation Index 2021
(Source: Statista.com, 2021)
The application of the globalisation method has also provided impactful support in the determination of all the business trending related activities and factors. In the UK retail market, it has been seen that a massive change has been made. It has provided essential support to improve the business conditions and situation. Behind increasing the GDP growth rate the contribution of the SMEs’ presence is major support and following globalisation, the method is a significant response for it. For example, it has been seen that, behind the UK’s GDP growth rate in 2018, the contribution of globalisation is 59.5% (Statista.com, 2022).
Aims and objectives and research question
Aim:
The main aim of the research study is to analyse the strategies of small businesses and the process that tends to adjust to the changing trends of globalisation
Objectives:
- To determine globalisation and its effectiveness on small business organisations
- To critically analyse the necessities of globalisation and essentialities
- To find out the challenges that have been faced by the small business organisations for make changing with globalisation
- To recommend some necessary strategies that can help to apply the necessary changes for applying the changing trends of globalisation
Research questions
- What are globalisation and its effectiveness on small business organisations?
- What are the necessities of globalisation and essentialities?
- What are the challenges that have been faced by the small business organisations to make changes with globalisation?
- What are the necessary strategies that can help to apply the necessary changes for applying the changing trends of globalisation?
Literature Review
Globalisation and effectiveness in small business development
Globalisation is one of the worst major methods that help to improve organizational development and growth activities by applying the current trend. As per the statement of Murat and Isaac (2019), the application of the globalisation method helps to improve financial outcomes and enhance the output results for business enhancement in the global competitive market. In the present days, besides big business development organisations, small business development organisations have applied the globalisation method. As a result of this, it has played an important role in making the business development procedure more improved and getting the knowledge of business expansion procedures. Contextually, it has been realised that the globalisation method provides the essential suggestion for applying IoT-based activities and processes. On the contrary Radović-Marković et al. (2019) argued that the application of the globalisation method has also provided the necessary suggestions that are related to the business trend. As an impact of that, it has provided beneficial support for increasing the business development process in the global competitive market. Therefore it can be said that the utilisation of the globalisation method is used to provide impactful suggestions that are related to the business trends and strategies that have been applied by other organisations in the present days.
Changing trends of globalisation
The business development activities and strategies are rapidly changing in the present days as well as it has been seen that most organisations are following all business strategy changing factors for fulfilling all the business development factors. As per the statement of Boiko (2020), in the global competitive market, the utilisation of technological activities is changing rapidly and it has made the strategy implementation process simple and effective. Contextually it has been seen that necessary changes have been seen in globalisation and monitoring process improvement has become another major trend. On the contrary, Kvitka and Kramarenko (2018) argued that the online method is increasing gradually nowadays and it has highly impacted business innovation processes. Apart from that, the application of the business trending activities has influenced the small and large business organisations to make upgradation and improvement of their business development strategies and process on business innovation and applying the business innovation based strategic implications. Contextually, it has been analysed that, by applying the changing factors of globalisation, significant financial outcomes can also come out.
Challenges of applying the new trending strategies to small business
There are several challenges that have been faced by business organisations in the case of applying new business trends, such as the appropriate application of IoT-based strategies to the business innovation and marketing teams for getting impactful support. On the other hand, it has been seen that monitoring performance has become a major challenge in small businesses. As per the statement of Martín-Rios and Ciobanu (2019), day by day the planning has been changed and due to these reasons, a major challenge has arrived in financial planning. As an impact of that, it has been determined that the application of the planning-based trending method has provided impactful support for tea business planning-related factors. It has been seen that, due to not maintaining all the manners appropriately, the business development regarding errors has been seen. On the contrary Mykhailova et al. (2018) argued that the changing activities are used to make changes in workflow managing activities. As the effectiveness of this, it has been analysed that, all the strategies do not provide impactful results in business development activities. Therefore it can be analysed that, there are various kinds of challenges that have been seen in applying business trending to small businesses, such as adequate monitoring methods and financial planning regarding activities.
Application of theory
- Innovation Theory
Innovation theory focused on applying different strategies main article processes and implementation of the innovation procedure. As per the statement of Foucart and Li (2021), the application of the theory is involved in managing all the innovations regarding activities and procedures. Small organisations by getting concepts from the theory can improve business training application procedures in the global competitive market. On the contrary, Denicolò and Polo (2018) argued that the application of the theory usually focuses on business managerial implications. Small business organisations by getting ideas and concepts from the theory can enhance their financial growth and development activities.
Literature gap
The past researchers have appropriately focused on the research topic but they only focused on the background, due to this reason, there is a major lag in their research. In order to fulfil the main aim of the research, the errors of the past researchers have been avoided.
Research Methodology
Research Philosophy
In order to fulfil all the research aims and objectives in this section of the research study by avoiding the other two research philosophies, such as realism and interprev\tivism research philosophies in this research study, positivism research will be followed in the research philosophy. As per the statement of Alharahsheh and Pius (2020), the positivism research philosophy helps to reduce the research complexity and make the data collection method easier. The interpretivism research philosophy is used to follow the background research that is not required in this research study and due to this reason, by avoiding this research philosophy, the positivism research philosophy has been followed.
Figure 2: positivism research
(Source: Self-created)
It has been seen that the application of the research philosophy will also play an essential role in reducing the errors of data collection methods and due to this reason, in this research study, the positivism research philosophy will be chosen.
Research approach
In the case of getting knowledge about globalisation and its effectiveness on business development and growth activities, in this research by avoiding the inductive research philosophy deductive research approach will be followed. As influenced by Patel and Patel (2019), the deductive approach usually helps to reduce the complexities of completing all the research regarding activities. Additionally, the inductive research approach usually provides a major priority to the theoretical approach which is not required in this research study and due to this reason in this section of the research study, the inductive research approach has been avoided.
Figure 3: Deductive research approach
(Source: Self-created)
Apart from that, in the case of maintaining all the data collection methods complete and maintaining them in an appropriate manner, in this research study by minimising the inductive research approach, the deductive research approach will be followed.
Research design
In the case of making an in-depth analysis of the research study, in this research study by minimising the explanatory and explanatory research design descriptive research design will be followed. The explanatory research design is used to follow the theoretical approaches which are not required in this research study. As influenced by Atmowardoyo (2018), the descriptive research design is used to provide impactful support for proving an in-depth result in the data collection method. As an effect of this, the application of the research design will make the research more informative.
Figure 4: Deductive research approach
(Source: Self-created)
Data collection method
In order to fulfil the main goals of the research study, primary quantitative and secondary qualitative data collection methods will be followed. The primary data collection, method will be completed by following the survey method. A total number of 31 participants will be selected for completing the survey method. Additionally, the secondary data collection method will be completed by applying journals, articles and websites.
Figure 5: Importance of using mixed data
(Source: Self-created)
Data analysis method
In the case of fulfilling the data analysis process complete, the application of the excel tool will be used in the primary data analysis method. Contextually, for completing the secondary data analysis method’s complete purposes, the thematic data analysis method will be followed. The main reason for following these data analysis methods is to prevent the repression of the data in front of the audience. The application of the method can also provide impactful support for fulfilling the research goals.
Sampling Method
In this research, both primary and secondary data collection will be followed and for completing the sampling method, the random sampling method will be followed. The main concern of the random sampling method is to get the ideas of participation choosing method simple Myin‐Germeys et al. (2018). Contextually, by applying this sampling method from the 51 participants, a total number of 31 respondents will be selected. The application of the sampling method will reduce the complexities in the respondents’ selection process.
Business and/or managerial implications for research
The entire research study will provide a major role to know about the need for globalisation and its effectiveness on small business organisations. Contextually, it has been realised that, making the organisations change as per maintaining all the necessary activities used to provide impactful support. The study will be involved providing guidance on business development and growth activities by applying the business trending activities in the global competitive market. Contextually, in this research study, a brief explanation about the business development and growth activities by following the business trending activities will be going to be elaborate and due to this, it will provide necessary suggestions about the business innovation and growth procedure.
Limitations of the proposed study
The entire study will be followed by globalisation and the changes including its effect on small businesses. In order to fulfil all the research criteria of the study, primary and secondary data collection methods will be followed. In the case of fulfilment of all the data collection criteria, the appropriate time maintenance regarding activities. One of the major limitations that might take place and that will be appropriate time maintenance is regarding activities. Additionally, the budget regarding issues and challenges can also create major limitations in this research study for maintaining this, the availability of a sufficient amount of balance needs to be present.
Ethical issues and considerations
In the case of fulfilment of the activities of the research study all the necessary steps that are related to ethics maintenance will be followed. In the case of primary data collection methods, all the respondents will get an equal chance to provide their answers. As per maintaining all data magnet activities by following data protection activities, all the collected data and information will be maintained in a significant manner. In order to participate in the survey, any kind of influence will not be allowed during the survey conduction process. Additionally, after collecting all the necessary data and information, this information will not be allowed to be used for any other purposes.
Conclusion
After completing the entire research proposal it can be concluded that the application of globalisation used to provide impactful support. In this research study, the challenges of applying the new trending strategies to small businesses have been elaborated. Contextually, in this research proposal, the application of Innovation theory and its effectiveness have been discussed in this research. It can be analysed that, the changing factors of a string by following the business turning takes an essential role to increase the small organisation’s growth strategy. In the case of fulfilment of all the research goals, by applying the positivism research philosophy it will be completed. Apart from that, all the data protection methods will be followed in the case of data maintenance. The necessary data and evidence have played an important role in the fulfilment of the research goals.
Research timetable
| Activities | Week 1 | Week 2 to 3 | Week 3 to 4 | Week 5 to 7 | Week 8 to 9 | Week 10 |
| Selection of the topic | ||||||
| Frame out the research structure | ||||||
| Literature review | ||||||
| Primary and secondary data collection | ||||||
| Formation of research plan | ||||||
| Identifying the research technique | ||||||
| Analysis of Data | ||||||
| Conclusion and Recommendation | ||||||
| Formation of draft | ||||||
| Submission of the research study |
Reference List
Alharahsheh, H.H. and Pius, A., 2020. A review of key paradigms: Positivism VS interpretivism. Global Academic Journal of Humanities and Social Sciences, 2(3), pp.39-43.
Atmowardoyo, H., 2018. Research methods in TEFL studies: Descriptive research, case study, error analysis, and R & D. Journal of Language Teaching and Research, 9(1), pp.197-204.
Boiko, V.O., 2020. Green tourism as a perspective direction for rural entrepreneurship development. Scientific approaches to modernizing the economic system: vector of development: collective monograph. Lviv-Toruń: Liha-Pres, pp.1-18.
Denicolò, V. and Polo, M., 2018. The innovation theory of harm: an appraisal. Antitrust LJ, 82, p.921.
Foucart, R. and Li, Q.C., 2021. The role of technology standards in product innovation: Theory and evidence from UK manufacturing firms. Research Policy, 50(2), p.104157.
Kvitka, A. and Kramarenko, A., 2018. From big business to small and medium-sized enterprises: factors and prospects. Problems and Perspectives in Management, 16(2), p.42.
Martín-Rios, C. and Ciobanu, T., 2019. Hospitality innovation strategies: An analysis of success factors and challenges. Tourism Management, 70, pp.218-229.
Murat, A. and Isaac, O.M., 2019. Effect of globalization on the performance of small and medium scale enterprises in Nigeria. American Journal of Environmental and Resource Economics, 4(4), pp.125-131.
Myin‐Germeys, I., Kasanova, Z., Vaessen, T., Vachon, H., Kirtley, O., Viechtbauer, W. and Reininghaus, U., 2018. Experience sampling methodology in mental health research: new insights and technical developments. World Psychiatry, 17(2), pp.123-132.
Mykhailova, L., Stoyanets, N., Mykhailov, A., Kharchenko, T. and Bachev, H., 2018. Sustainable development of the Ukrainian agrarian sector: perspectives and challenges. Problems and Perspectives in Management, (16, Iss. 3), pp.28-39.
Patel, M. and Patel, N., 2019. Exploring Research Methodology. International Journal of Research and Review, 6(3), pp.48-55.
Radović-Marković, M., Brnjas, Z. and Simović, V., 2019. The impact of globalization on entrepreneurship. Economic Analysis, 52(1), pp.56-68.
Statista.com, 2021. Top 50 countries in the Globalization Index 2021. Available at: https://www.statista.com/statistics/268168/globalization-index-by-country/ [Accessed on 10th August 2021]
Statista.com, 2022. Has Globalization Passed Its Peak? Available at: https://www.statista.com/chart/21821/global-trade-volume-as-a-percentage-of-gdp/ [Accessed on 10th August 2021]
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