Research Methodology Assignment Sample
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Title: Is it worth it to expand the business into a new region or country?
Literature Review
Introduction
After the globalization, the expansion of business becomes a common practice for especially big businesses and the scope of expansion is not rigid to big enterprises but it goes to the SMEs entities equally. Likewise, there is various countries small business which doing great on exploring the new or different market outside their boundaries through use of online channels. However, the main cause of expansion of business into the international market is because of exploring new market, attract new customers and gain maximum recognition on sport span of time (Castaño et al., 2016). Thus, this expansion of business outside the local boundaries becomes an important aspect to grow and achieve the high profit margin.
But with the increasing competition, it becomes not easy to expand the business or operate the function outside the local market. This is because there are various external factors exist such as political parties influences along with the change of customer taste and preferences and many more factors that directly affect the firm sustainability into the another region. So, this area raise question that is it worthy to expand the business into new region or country.
Thus, this study will help to understand whether expansion of business across the global market is really proven worth for economy, society as well as for business (Lubinski et al., 2013). For this, the researcher used the qualitative methodology by undertaken different author journal articles and research papers etc. These help the researcher to critically analyze the worth of expansion concept for business.
Defining the expansion of business into the international market
In the views of Melo et al. (2015), the expansion of business considered as a process within which business moves from domestic market to international market for the purpose to make new potential customer segment, sales generation and gaining high recognition etc. however, the expansion of business tend to increase the size of business and helps them to reduce the risk of staying in one market. There are various big brands that successfully expand their business on across the boundaries. For instance, Nike is considered as a global brand in present scenario. It becomes possible only because of firm careful selection of international sponsorships. Likewise, it previously comes into the partnership with the Manchester united. This sponsorships helps them to gain high recognition and allows them to gain the customer positive behavior towards the brand.
Mc-Donald’s is another global brand which includes the successful exploration of different market. It gains such recognition only because it’s right strategy and the implementation process within which it earns the high satisfaction level of customers. Moreover, the differentiation or cost leadership is the strategies which support Mc-Donald’s to sustain in different markets and makes their international expansion successful.
However, these businesses become successful because they use right international business expansion strategy. So, the selection of appropriate tactic is must for every enterprise before moving into the international market.
Imports and exports of goods are that strategy which is largely used by the business and this option often choose first when business wants to make international exposure. In this, they brought or send goods or services from one country to another one. It is the easiest way to explore the foreign market.
Licensing:- Licensing is another yet effective way to expand the business internationally. In this, licensor is the firm which allows to using its intellectual property such as brand name, copying right, patenting and technology for some specific period of time. Moreover, the licensor gets benefit in term of royalty. This area usually used when the domestic production costs are too high and existences of strict government regulations etc.
Franchising is considered as a parent company which gives right to another company to do business using their franchiser’s name and products. It is different from licensing as franchisees need to follow much stricter rules. Mc-Donald’s, Pizza Hut, Burger King and KFC etc are the example of Franchising.
Joint venture is another most used strategy within which different countries companies ready to come into partnership for entering into the new market. It is done through mutual agreement. The cooperation between the companies allows them to share production cost, technologies development and sales network etc (Tiago and Veríssimo, 2014).
Thus, these are the common strategies which firm used to enter into the international market.
Benefits of expansion of business across the boundaries
According to Tolmay (2017), there are numerous benefits exist in the expansion of business across the boundaries. It majorly includes the sources of new revenue generation. It means that business get the opportunities to trade in new market and able to capture larger audiences which directly influences the sales and revenue of firm. However, Lynch and Jin (2016) stated that the expansion of business also support the firm in term to greater access of talent once which is lack in current scenario. But the exploring of new countries allows the business to get the skilled staff which helps the firm to grow and perform better in the present and future scenario. Furthermore, business also gets the benefit in the form of learning about the new culture. This would be possible only with the expansion of business across the boundaries where business able to interact with multiple culture and learn new area which helps in the business growth. Along with, the foreign investment opportunities are another benefit which firm gains with the expansion of business. At the same time, the expansion of business also proves to be useful for the firm in terms to improve the business reputation. Likewise, it happens that some business fails in particular market then with the expansion, they get the opportunity to tap new market with the increasing chances of profitability.
In contrary to this study, Piekkari et al. (2014) depicted that expansion of business give rise to the support of various people in terms to improve their lives on some way. For instances, if individual explore to any another environment then they get large chances of solving their problems. Thus, this way people can support the firm to achieve the objectives to a larger extent.
In addition to this study, Yun et al. (2015) depicted that expansion of business in another country also proves to be learning experiences for the business as with the merger and acquisition, the workforces develop their skills and contribute productive results to the business. At the same time, the interaction with new culture allows the people to exchange their ideas and views which prove to be effective for their sustainability on foreign market.
Challenges faced by business on the expansion of business across boundaries
In the views of yan Zhang and Van Den Bulcke (2018), expansion of business is always proven effective for business for longer growth but at the same time, there are wide level of uncertainties lie within it. The major challenge which business faced are the cultural differences within which business usually find problem in term to maintain proper communication process at the workplace or with the customers. According to Folk and Jomo (2013), the business faced the problem with culture because at new region, business hires local people so to make the coordination with diverse culture people become a tedious task for the firm. So, it creates conflict at workplace which impacts the working environment negatively. On the other hand, Grigorescu and Zaif (2017) depicted that cash flow management is another challenge which business faced while expansion as it occur with the differences on economic policies and legal system within which firm struggles to gain high cash revenue. However, the poor negotiation with the partners and vendors also create problem for the firm in term to manage the cash into the business.
From the finding of Gillespie (2015), it is identified that learning to delegate the work is also considered as a challenging task for the business. This is because diverse cultured people have differed sense of perception or work skill. So, it creates issue for the business manager to delegate the work to diverse culture people. Sometime, the incorrect delegation of work becomes a loss to the firm. So, it is important for the business to learn about the workforce’s behavior or skills of particular culture so that right delegation of work can be done. At the same time, the frequent market change on the international market is another problem within which entrants business find problem in terms to what product should be launched and who all are the target customers for the product. This is because the market change gives rise to the deviation on the customer preferences within which firm struggles to select which product or service.
In addition to this study, Pucciarelli and Kaplan (2016) stated that capital availability is something which also considered as a challenging task for the business to enter into the foreign market. This is because there are various firm which struggles for the entering into the foreign market with the lack of capital availability. So, the capital inadequate is also considered as a biggest challenge for the business to explore the international market. In a similar manner, Borras et al. (2013) found that inappropriate skilled workforces is also challenge for the business as it become difficult to enter into the new cultured environment without the proper skills or market survey. The survival chances of business get declined. Thus, it is important for business to analyze or assess the external market of host country properly for increasing succession probability.
Ways to implement the expansion of business on successful manner
In respect to increase the success on international market, the business entities requires to firstly trained their workforces accordingly as every individual is not ready to accept chances especially culture one so it is must to prepare the workforces for international market. At the same time, the adaptation of joint venture or partnership strategy is important to undertake for making proper balance of cash-inflows. At the same time, Agwu and Emeti (2014) stated that firm usually faced the problem in relation to differences in culture or legal system. For this, the business entities require conducting the market research so that they can collect proper facts about the customer current taste and preferences and accordingly come up into the market. So this strategy can increase the succession rate of firm expansion. Moreover, the market survey also assist the firm to identify how much recognition and goodwill they possess in market so this will also guide them in their marketing activities.
It is suggested that business should adopt the online marketing for creation of recognition in the international market as social-site are the best sources to interact with larger cultured people and develop an healthy relationship with them. So, this strategy may help to develop the positive goodwill over the international market.
Literature Gap
The literature consist of limitation in the form that it does not include any graphs or table related to any firm and due to which the study more arrive as theoretical in nature. Besides that, there is no focus on any particular country within which study provides wide aspect about what are the benefits of expansion of business on international market. At the same time, there is no use of newspaper letter within which authenticity of literature get reduced.
Conclusion
On the basis of above discussion, it is identified that expansion of business at international market proves to be effective for the business when it want to create new customer base and increase sale and revenue. The benefits of expansion not only stick towards the profitability but it also supports the business to increase their learning about the different culture. At the same time, business with the expansion of market able to target the large demographic segment whether based on income and age. This helps them to gain different customer segments which directly influence the sales of firm.
But, it is also realized that there are certain challenges that also occurred with the expansion of business including the culture differences which is the major one due to which people struggles on developing proper communication with each other. Other than that, the frequent change in market also impacts the firm sustainability on international market as with the change on customer taste and preferences, the firm find problem to cater their needs properly. Otherwise, the expansion of business on the international market tends to be worthy especially in current scenario.
Research Methodology
Introduction
This chapter plays a vital role in terms to outline the strategies and methods for collection, analysis of data and helps to present such facts in order to gain right set of research outcome. However, this research methodology offers the valuable platform for achieving the research objective and aim which is to identify whether business international market expansion is worthy or not. This question will be address in this study and try to find out the relevant solution for it. In respect to achieve the solution of this research problem, there are different methodologies are undertaken including research philosophies, approach, design, data collection and sampling method which helps the researcher to design, analyze and present the research properly to reader (Basias and Pollalis, 2018). It helps them to understand it and develop the conclusion about the research study.
This research study major focused is to prove the null hypothesis i.e. there is positive impact of business expansion over the business sales and revenue generation. For this, researcher undertakes various strategies to prove it. Likewise, they majorly rely on the data collection and data analysis method for generating right research result as without getting the relevant facts, researcher won’t able to develop right set of research solution (Elliott et al., 2012). Thus, the gathering of data in proper manner is the important aspect for researcher in order to prove that international expansion of business is worthy if it is implemented appropriately. Hence, this chapter brief about the research strategies and design that researcher take to prove this study and achieve the right set of research result and outcome.
Research Question
This study will address the research question in order to identify the solution of those questions and critically analyze the study. Here are the research questions for this study:-
- How international expansion proves to be worthy for business?
- What are the challenges that occur with the international business expansion?
- What are the ways that helps the business to successfully execute or manage its business on international market?
On the basis of these questions, it will become easy to figure out what all areas that benefit the business with the expansion and able to identify the challenges that occur. So, this study will outline the positive as well as negative scenario of international business expansion. Other than that, these questions will also specify that what all benefits firm gain with the international market exposure. So, this question could help researcher for proving the null hypothesis which stated that international expansion proves to be worthy for the business for longer period of time.
Research Objectives
On the basis of research questions, here are the research objectives for the study. These objectives prove to be effective for accomplishing the positive research result.
- To define the meaning of international expansion along with the types of business expansion
- To identify the benefit of international expansion of business
- To study about the challenges that business faced while exploring new market
- To suggest the ways for implementing the successful business expansion
The objective can help to critically analyze the international business expansion strategy and its impact on business. At the same time, the accomplishment of these objectives definitely assists to prove the null hypothesis for the research.
Research Philosophy
Research philosophy is considered as a belief about the way the data is gathered, analyzed and used. In context to this study, the ontological philosophy is being adopted as it reflects an interpretation about the facts. This means that this philosophy helps the researcher to gain the in-depth understanding about the research study and based on this allows them to analyze, interpret and summaries the data (Mohajan, 2018). Thus, it can be stated that ontological research philosophy is well suited to the given study for accomplish the research results. Other than that, the evidences like journal articles and online paper could clearly reflected the significances or benefits of international expansion of business. This philosophy also assists to prove the null hypothesis on suitable manner.
Research Design and Method
In respect to the research study objectives, deductive approach will be used as the literature review or different journal articles suggest various papers or knowledge about the given research topic (Peers, 2018). This approach also helps to prove the hypothesis i.e. international expansion proves to be worthy for the business in term to gain benefit of sales and large customer interaction. The deductive approach helps the researcher to develop new finding which provide the relevant or right research result by covering current scenario.
The adaptation of right research design is another important area for the researcher in order to gain the right research study. In respect to this study, the quantitative research study is well appropriate as this design helps the researcher to gain the facts on the basis of actual observation and survey (Saunders and Bezzina, 2015). Thus, this research design is much worthy for the research study for accomplishing the goals.
The primary method will be used to collect the data as it assists the researcher to collect the bulk data within short span of time. This methodology also presents the actual reaction of people towards the study. For this study, 100 employees of UK retail sector are targeted to get the relevant responses over the topic of expansion strategy. This methodology is well suited to this study as the survey method helps the researcher to know that whether expansion of business into the foreign market is suitable and this knowledge is gained with the response of employees. The respondents are those people who are part of expansion so they have best facts about this question. This areas provide the reliable research outcome so, it can be stated that respondents are selected for this study proves to be effective for achieving the right research outcome.
The research strategy helps to ensure that the given topic offer detailed information or not. The reason behind is to undertake the strategy for guiding the researcher towards right direction. In context to this study, the researcher selected the survey method in order to achieve the research result. This method is quite relevant as survey method allows to gaining bulk facts related to the topic (Padilla-Díaz, 2015). It also gives chance to researcher to make interpretation on the basis of personal observation which they do at the time of survey. Thus, the survey methodology is appropriate for this study. The questionnaires are developed in this method and it is send through emails or some distribute personally. At the same time, close-ended questions are focused more on the preparation of questionnaires. Thus, these areas make the survey process more relevant.
This is another yet effective research method for selecting right respondent to get proper set of information. The selection of respondent is quite critical act as the entire study is largely depend upon the respondent and their responses as the study is processed through the given facts. In relation to select the respondent, there are two types of method outline such as random and non-random method. The random method is those in which people are selected randomly without including any pattern or strategy to select particular individual (Jamshed, 2014). On the other hand, non-random method involves the selection of people based on judgments and pattern. In this study, the researcher will be used the random-sampling method for this study as it is best suited one in references to provide the detailed information about the research topic. However, the random method also reduces the chances of biasness in the survey activity which gives rise to the relevant research result or outcome. Therefore, the random sampling method proved to be effective for this research study.
Data Analysis
In order to analyze the data, the quantitative method will be used to collect the facts. It is done through the survey method. There are 100 employees are selected for the research sample. The researcher will analyze the collect data through use of SPSS software which is quite relevant to analyze the data and interpret it properly to readers. The presentation of graphs and table allows the reader to understand the facts appropriately and able to develop the conclusion (Csikszentmihalyi and Larson, 2014). This data analysis process definitely provide the best interpretation and analysis within which researcher properly create the conclusion and provide right guidance’s to varied new or existing firm about the significances of business expansion on international market. However, this is the major step of the methodology part as without it researcher unable to present the facts properly. The data analysis section includes the process of collected data and it is an essential component in regards to ensure that data integrity is accurate and appropriate analysis of research finding. Basically, this section helps to examine the finding for reaching to the research result.
Ethical Consideration
The ethical consideration is considered as an important aspect for the research study as it helps the researcher to reach towards the right research result. However, the researcher needs to focus on certain aspects such as protecting the respondent personal facts from the unauthorized access. Other than that, the researcher also requires to focus on the secondary methodology through undertake the plagiarism or copyright areas as these are the common issue which occurred often. At the same time, the researcher should also focus on the research report guidelines so that each and every aspect of work can be covered and there is no chances of mistakes occur on the research work (Rahi, 2017). Thus, these ethical considerations definitely prove to be useful for the firm in term to collect the right and relevant data for the research study and reach towards right outcome. Other than that, researcher should focus on the researcher team in respect to analyze whether they are conducting the survey properly or just showing the artificial facts in study without making any research work. This un-ethicality usually occurs when the research result presents the unfavorable analysis or solution to study. There are five principles will use to carry out the research study on ethical manner. It includes the autonomy, justice, beneficence, and non-maleficence etc.
Validity and Reliability
It is stated that researcher will used the quantitative methodology for this research study in order to reach the right research result. However, they also undertakes the survey method for proving the null hypothesis and for this, the survey methodology is reliable as with the responses of employees, the researcher able to justified that whether expansion on international level proves to be significant for them or not. This area also helps the reader to practically validate the study. The example based on UK famous firms like Mc-Donald’s, Nike and many more clearly justified that expansion on different market helps them to gain larger customer base and recognition along with the high chances to increase the revenue or sales (Martínez-Mesa et al., 2016).
In addition to this study, the collected data from research survey may successfully validate the research study as survey questions clearly directed or targeted towards the international expansion and its impact over the business. Moreover, the respondents also are the people of retail industry. So it become easy to understand that whether expansion strategy proves to be effective for business sustainability or should firm avoid this strategy (Acharya et al., 2013). Thus, the employee’s responses are the major sources within which the expansion importances are achieved. That’s why, it can be depicted that research methodology of this study able to validate the research result properly.
Timescale
This section presents the duration of completion of research study. It is found that this research study include varied activities so it may take quite high time to reach towards the research result or outcome.
| Activities | 1 week | 2 Week | 3 Week | 4 Week |
| Approval on Research title | ||||
| Literature Review | ||||
| Research question | ||||
| Research objective | ||||
| Research methodology | ||||
| Submission of research report |
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