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D/508/0491 The Influences of MNC like IKEA on the Business Environment

University: Mont Rose College of management & Sciences

  • Unit No: 6
  • Level: Undergraduate/College
  • Pages: 8 / Words 1971
  • Paper Type: Assignment
  • Course Code: D/508/0491
  • Downloads: 146
Organization Selected : IKEA

INTRODUCTION

It is necessary for business is to update and upgrade its technologies in given time because it maintain sustainability in the large market area. While upgrading techniques, there is requirement to manage project in effective manner. The project is based on IKEA which is multinational group which designs and deal in ready made furniture, kitchen appliances and home accessories. In this report, determine the influences of multinational companies on the business environment of Romania. The main purpose of this project is to analyse the aims and objectives of project along with project management plan that is necessary to reach with desired business operations and functions (Awais Ahmad Tipu and Manzoor Arain, 2011). Along with this, understand the work breakdown structure and Gantt Chart which is proceeded by investigation methods. Therefore, the report comprise with research tools and methods along with recommendation to analysing the impact of multinational organisation on business environment of other nation.

TASK 1

P1 Project aims and objectives for a chosen scenario

In a economy, several organisation established to providing quality services to target customers. In this regard, it is important for new organisations to create a impactful marketing strategy for getting stability in new market. Major requirement of these planning are to reduce influences of multinational organisation's. In Romania, these organisations have a large marketing share as well as a effective customer's chain. Therefore, it is hard for a new businesses to establish their own market in new country.

Background of the Research

This report is based in Ikea which is a Swedish founded multinational organisation which was founded in the year of 1943 by Ingvar Kamprad (Bakker and et. al., 2011). This firm basically deals in ready to assemble furniture, home accessories, kitchen appliances and so on. Now the organisations wants to work in Romania which is a hub of numerous multinational organisations. For this change, organisation needs to implement impactful strategy as well as planning that assist them to establish their own market in new country.

Research aim

To analyse the influence of multinational organisations on the business environment of Romania. A case study on Ikea

Research objectives

  • To analyse the concept of multinational organisation
  • To understand the business environment of Romania
  • To identify the impact multinational companies have on the business environment of Romania.

Research question

  • What is the concept of multinational organisation ?
  • How to understand the business environment of Romania ?
  • What is the impact multinational companies have on the business environment of Romania ?

P2 Project management plan

For the management of a project, researcher needs to emphasize each aspects in effective manner. These kind of activities assist in attaining business objectives and goals in effective manner (Hwang and Ng, 2013). The planning of these projects are based on several elements as -

Cost – These are the most important components for a project because all the organisational activities are based on funds and capitals. In order to establish business in Romania, Ikea needs to manage a fix amount of capital for purchasing raw material, resources allocations and so on.

Cost budget of IKEA (Estimated):

Particulars

Amount (€)

Initial investment

100000

Expenses:

 

Research and developmental activities

25500

Operational expenses

15600

Cost to IT experts

21500

Maintenance

16400

Licensing fee

6000

Closing value

15000

Scope – Changes in business practices describe a vast scope for business firm. Through this firm can attain higher business growth from the market of Romania. To maintain business with multinational competitors, Ikea needs to implement strategic planning. These activities will encourage business approaches through concentrating on execution of creative ideas for business success.

Time – Ikea requires to create strategic planning in order to secure business services from the impacts of multinational organisations (Kowalkowski, Kindström and Brehmer, 2011). Thus, the planning practices can take a proper time period for creation to execution practices.

Quality – These aspects based on quality practices of firm that they wants to provide to target customers. In order to attaining higher competitive advantages, Ikea needs to provides quality products and services to their customers.

Communication – Project management plan is required for establishment of communication medium through which employees of firm can coordinate with their seniors to share their problems and for getting its better solutions.

Risk – For Ikea, its I required to analyse impacts of multinational organisation on the existing business firms of Romania. Through this they can manage operational activities and can get higher advantages.

Resources – The management of Ikea needs to analyse requirement of resources for the accomplishment of this project. Through this they can manage funds and capital for the better utilizations of these practices.

P3 Produce a work breakdown structure and a Gantt Chart to provide timeframes

Work break down structure is aid to manage work of an organisation in different sections. Main objectives of these practices is to divide major task in small crunch in order to reduce workload from a particular person (Porwal and Hewage, 2013). On the basis of these practices, responsibilities and roles assigned to a person who have abilities and skills to manage the work properly. The working practices of Work break down structure is start with the as top level department deliverable and then further it decomposed into sub-deliverables using overall outline of project.

Gantt chart is also a project management aspect that assist to manage all the task in sequence formations. In this process, manager prepare a plan and execute them for its management in a sequence. This chart is determine in horizontal and vertical formations that defines the project timeline in a sequence, durations as well as the start and end date of particular task. Through this researcher can identify appropriate time that are needed to finish a assign task. These kind of aspects assist to manage a project in effective manner.

TASK 2

P4 Carry out small-scale research by applying qualitative and quantitative research methods

Research play an essential role in any project. This is used to recognise requirement and needs of the employees. The main motive of this research is to identify the point of view and perception of target people. There are four types of research method which are described as under:

Qualitative method – It is the scientific method of observation which help in collecting and gathering non numerical data (Ryan and Campbell, 2012). This is also known as primarily exploratory investigation. This can be used for gaining an evaluating to underlying reasons, thoughts, opinions and motivations. This will provides insights in the issues which assist in developing ideas and hypotheses for potential quantitative research method. In addition to this, there are variety of methods of data collection in the quantitative research that includes textual, observations, visual analysis and interviews.

Quantitative method – This method is used to analysing and examining the relationship between primary goals which is being analysed and present that relation should be described through statistical analysis. Such type of research method is mainly used in scientific research problems. This method of investigation is mainly concentrate on understanding a phenomenon from a close perspectives. In addition to this, it is that research method which allow researcher to analyse and examine the relationship among two variables of income revenue. The data can be used for analysing the causes and effect relationship that can be helpful in examining predictions.

In this project, qualitative research can be used for collecting and gathering appropriate data and information which assist in making project in given time period. It is useful for analysing all respondents views and opinions regarding company services and products.

Primary method – It is that method which is designed to collect and gather relevant data for completing appropriate research. This method of investigation mainly focus on reaching with desired goals and targets appropriately. There are various sources through which data has been collected such as interviews, questionnaire, surveys, focus groups and observations.

Secondary method – It is that type of research which has already been gathered, collected, complied and published by others. This includes reports and studies by government agencies, other businesses, trade associations in the company. It is defined as an analysis and interpretation of primary method (Sharon and Dori, 2015). This method of research assist in gathering and collecting all relevant facts and figures in better manner. There are different method which can be used for gathering relevant information that includes books, journals, articles and so on.

Both research method can be used for gathering and accumulating correct facts and figures while making investigation project in better manner.

Sampling method – It is that process which select sample people of large population. Sampling is the statistical process of selecting some representatives from the populations which is called as sampling on the basis of which the characteristics of the total population can be determined. Since, the sample selected should be reflected in true characteristics of the population where researcher must decide which of the sampling method can be used in the project. There are two types of sampling method which includes probability and non probability sampling techniques. In this probability sampling is that techniques in which subjects of the population gain equal opportunity to selected as a representative. On the other hand, non probability method is the tool of sampling where individual from the population will be selected as a sample.

CONCLUSION

According to the above described report, it can be concluded that there are various things that should be concentrate at the time of managing and maintaining whole project in effective manner. Along with this, project management plan is helpful in managing entire factors of reports. Investigation is beneficial because it provide different people point of view. Work breakdown structure and Gantt chart is useful for managing all task in efficient way.

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