Introduction
Background: Globalisation is defined to describe how people, businesses, countries and world become interconnected and forces such as technology, politics, economics, and transportation make it significant to cross boundaries and borders (Crane et al., 2019). Globalisation offers benefits as well as challenges faced by the business ventures and people. In the context of global business operation, most of the companies face challenges for globalisation while expanding or running international business. Wesfarmers is one of Australia's largest listed companies in retail sector. Globalisation of Wesfarmers continues to operate in retail sector with global expansion. This case study of Wesfarmers will involve the effects and benefits of globalisation and challenges faced by Westerners, a retail group in Australia.
Justification of background: The research study regarding globalisation has been selected to convey the scenario of retail groups and economic position in world. The organisation in this case study of Wesfarmers is chosen because this company is expanding and overseas retailers in Australia and other places. The proposal will describe and research regarding globalisation of Wesfarmers by examining current trends and economic prospects in retail industry. The growth and latest trends in retail industry and challenges faced by Wesfarmers will be explored in the current study (Flew & Waisbord, 2015).
The purpose of the case study of Wesfarmers is to explain the advantages of globalisation and effects regarding expansion and business operation in international context. Expanding in global market, assessing the market opportunity and creating strategies for the company are main purpose and context of the research. It is to understand the Wesfarmers's current position and market opportunity regarding e-commerce and latest trends in retail market. In order to solve the problems, the organisations take specific strategies in globalising their brand and business (Coombe, 2017). This case study of Wesfarmers will focus on both advantages and disadvantages of globalisation by creating a balanced environment and profits regarding globalisation. It influences the economic as well as social forces that affect to establish the strategic choices and development.
The problem regarding globalisation can be identified as ethical business practices, organisational structure, leadership, public relations, legal and regulatory structure and others. Globalisation identifies to develop the cultural and regulatory changes in ensuring the profitability to follow the areas of technology, economy and other frameworks (Coombe, 2017). This is established to consider the issues regarding globalisation of Wesfarmers. It is helpful to identify the implementation and control to balance the growth and expansion. According to Flew & Waisbord (2015), leadership style is needed to apply appropriately in the context with developing effective global strategy. It is considered to develop the effective global strategy in retail market. Wesfarmers continues in top 18th retailers in Australia as well as globally. Revenue is $20,711 Million worldwide. It is expected to apply the growth strategies and retail market value and opportunity to transform the global gratification and successful retailing in market (Crane et al., 2019). Wesfarmers faced challenges regarding global expansion and market penetration that can be beneficial by applying globalisation. The issues will be highlighted in the research for developing business scenario and success in the expansion of retail industry.
The aim of the case study of Wesfarmers is to understand the globalisation and challenges faced by Wesfarmers in the context of global business operation.
The objectives of the research are:
- To understand the concept of globalisation while expanding the business in target market
- To assess the potential challenges of globalisation faced by Wesfarmers
- To evaluate effect of globalisation in global business operation for Wesfarmers
- To recommend effective strategies to Wesfarmers for overcoming the challenges in globalising the business
Research methodology adopted from this case study of Wesfarmers will be focused to deliver specific data collection and findings. Interpretivism research philosophy will be selected to analyse the research and establish a concise research finding. Interpretivism research philosophy helps in research to expand and interpret the collected data in order to achieve the desired objectives. Explanatory research design will be chosen to develop the layout of the research. This research design is effective for this current research to explain the specific data (Taylor, Bogdan & DeVault, 2015). It will be focussed to enhance in concise and detailed manner for the current research. Deductive research approach will be selected to choose specific theories from existing concept regarding globalisation. Existing theories and concepts will be used to conduct the present research.
There are two types of data collection methods such as primary and secondary data collection (Taylor, Bogdan & DeVault, 2015). Secondary research will be conducted for the current research. Secondary data collection method will be conducted by using several online articles, journals, books and other websites. Inclusion criteria will be applied to select the articles and journals. Thematic analysis will be developed for collecting secondary data sources. Several databases will be selected such as Google Scholar, Cinahl and others.
Coombe, R. J. (2017). The cultural life of things: anthropological approaches to law and society in conditions of globalization. In Globalization and Intellectual Property (pp. 533-577). Routledge. Retrieved on: 14 August 2019, from https://digitalcommons.wcl.american.edu/cgi/viewcontent.cgi?article=1435&context=auilr
Flew, T., & Waisbord, S. (2015). The ongoing significance of national media systems in the context of media globalization. Media, Culture & Society, 37(4), 620-636. Retrieved on: 14 August 2019, from https://eprints.qut.edu.au/84088/7/84088.pdf
Crane, A., Matten, D., Glozer, S., & Spence, L. (2019). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press. Retrieved on: 14 August 2019, from https://books.google.co.in/books?hl=en&lr=&id=fcSbDwAAQBAJ&oi=fnd&pg=PP1&dq=Understanding+globalisation+and+challenges+faced+during+global+business+operation&ots=Mrhgjxs_Mv&sig=ukecE1jSxJ4qt2fPP_QrxqOPjZE
Taylor, S. J., Bogdan, R., & DeVault, M. (2015). Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons. Retrieved on: 14 August 2019, from https://books.google.co.in/books?hl=en&lr=&id=pONoCgAAQBAJ&oi=fnd&pg=PR11&dq=research+methods&ots=QhyihAaA6P&sig=S--fcTMgWppFH6d_dn9Txe0qrbM
