Tag: MBA Dissertations

MBA Dissertations

Quality Management System at Barclays Group

Quality and Quality Management System at Barclays Group

Quality Management System at Barclays Group – The present business climate is characterised by fierce rivalry and constantly shifting client needs. A further factor driving competition is the proliferation of new technology, globalisation, and corporate consolidation (Bouranta et al., 2019). Many banking institutions are suffering economic issues because of the COVID-19 epidemic. Managers must examine their company processes in light of the negative macroeconomic climate to make investment decisions.

This report evaluates Barclays’ quality management procedures and investment decision processes (Kugbonu, 2020). Quality management trends are also examined in this paper, as well as how the QM system might be aligned with these trends. Barclays bank should incorporate these trends into its Quality Management (QM) to achieve a competitive edge in the business.

An Overview of the Situation

This bank has two divisions: Barclays International and Barclays UK. Its service subsidiary, Barclay’s execution services, supports these divisions. Over 83,000 people work for the bank, which has operations in 40 countries and employs approximately 83,500 people in its two primary markets, the United States and the UK (Diekola, 2016).

Personal banking, commercial banking, investment management, corporate banking, and internet banking are just some of Barclays’ many offerings. In addition to individual and small business banking, the bank also provides corporate and investment banking services.

TQM Principles at Barclays and its Significance TQM

Employee Engagement

The HR department’s TQM principles include employee involvement and open communication. Human capital is a key strategy for the bank in achieving its objectives (Salah, 2018). “We want to promote their health and well-being to empower and drive them to offer exceptional services” the business said in a statement.

To boost productivity, the company makes significant investments in the well-being, professional growth, and mental health of its workers. 83 per cent of the bank’s employees say they’re engaged, with 67 per cent of those surveyed responding (Nyamari, 2017).

According to employee surveys, between 74% and 78% of employees report having stress levels they can manage and a work-life balance they feel they have achieved (Parvadavardini et al., 2016). To foster a culture of innovation and creativity amongst its workers, the bank offers a variety of educational opportunities, including classes, workshops, and seminars.

Internal clients are just as crucial as external ones when it comes to a company’s success. Internal customers and external customers can both benefit from service firms’ efforts to improve the quality of the services they provide (Rafailidis et al., 2017). Human resource policies including organisational commitment, employee engagement and training are connected to optimal corporate performance and shareholder profitability. There are ways in which Barclays’ present HR policies can contribute to its long-term competitive advantage.

Communication

An annual poll of employee engagement is conducted by the corporation, allowing for two-way dialogue between top management and the workforce. Employees, consumers, investors, and stakeholders all have input in decision-making and strategy formation (Kugbonu, 2020). To help clients make well-informed financial decisions, the organisation says it is transparent about its financial offerings. The corporation engages stakeholders using surveys, social media, and other broadcast methods.

Using Kaplans and Nortons Balanced Scorecard, the company’s communication’s organisational impact may be measured (BSD). The BSD aims to improve the quality of life for both employees and the general public via better communication (Al Ghamdi et al., 2016). To create connections and satisfy consumers, Kaplan and Norton’s approach requires management to communicate. To boost performance and customer happiness, the leaders need to convey their priorities effectively.

Management

Nyamari (2017) emphasised the importance of leadership in achieving quality objectives in a business. To keep their teams focused on the pursuit of quality improvement, bank leaders instil a sense of urgency in them. Demonstrate a high level of leadership and management to lead the radical adjustments necessary for continuous improvement, Deming claims.

To increase productivity and revenues, transformational leadership may enhance the quality of the entire process (Diekola, 2016). Leadership at Barclays is responsible for establishing the bank’s long-term strategy and defining its basic principles. To help their employees achieve their goals, they are also directly involved.

Significance of TQM Principles at Barclays

An Ever-Evolving Process

This bank has a section dedicated to service and efficiency enhancement. The lean six sigma paradigm, which states that a corporation may enhance product/service quality by removing wastes along the value chain, is used by the company to accomplish continuous improvement (Bouranta et al., 2019).

Focusing on theory implies that proper precautions are taken to prevent errors and increase operational efficiency. The business says that it recycles risk-weighted assets to improve operational performance and keep costs in check while also maximising the efficient use of available resources.

To reduce inefficiencies caused by inefficient work methods, it has also used new technologies in the invoicing and documentation procedures (Salah, 2018). Banks may enhance their financial and non- financial performances as well as their operations related to supplying chain management by making investments in continuous improvement. The bank’s performance may be improved through operational efficiency and better customer service as a result of the continuous improvement projects.

Customer-Focus

For the bank, customer-focused service is a primary value proposition. Customers’ wants and connections are at the heart of all of the company’s actions and plans. Investment programmes can be adjusted to match the specific demands of each customer (Rafailidis et al., 2017). Access and tracking of investments are available online for clients. As a part of its financial education programme, the bank offers free telephone updates and money-mentoring services.

Barclays Bank also provides new goods and services to enhance the customer experience (Mahanga, 2016). For instance, consumers may save time by serving themselves and gaining access to the majority of the bank’s goods and services through the use of the bank’s mobile applications and online banking platform.

Customers from a variety of backgrounds may simply use the applications because of their basic design. In accounting and banking organisations, customer-centred services improve client happiness, customer loyalty, and customer retention levels (Parvadavardini et al., 2016).

These findings suggest that a company’s ability to retain customers may be improved by tailoring technology to match the demands of clients. In today’s highly competitive market, a company’s ability to retain and gain new customers is vital (Kugbonu, 2020).

According to the bank, a 32 per cent decrease in customer complaints may be attributed to the bank’s efforts to enhance its service delivery method. Customer service is a priority for the organisation, and it has taken the necessary steps to improve it.

The bank’s operations with reduced defect and waste creation can boost productivity and create cheaper expenses. Additionally, the bank may be able to maintain and grow its client base, resulting in greater financial success (Al Ghamdi et al., 2016). TQM’s societal advantages include customer happiness and brand approval in the marketplace.

To complement the bank’s quality plan, these TQM principles need to be adapted. Using the TQM principles, the bank may fulfil its strategic goals of diversification by implementing four proposals (Diekola, 2016).

TQM impacts competitive strategy creation and is a source of sustained competitive advantage, according to research (Nyamari, 2017). A competitive advantage may be gained through the use of the TQM paradigm, according to these studies. Using the 14 TQM principles, a firm may have a competitive edge, better financial performance, and better customer satisfaction.

This is confirmed by the company’s 2020 annual report, which notes that the improvement in customer satisfaction may be ascribed to the company’s quality measures (Mahanga, 2016). Because it concentrated on TQM principles, the bank’s financial results have improved.

The Importance of Total Quality Management Barclay’s Quality Management System (QMS)

Building a Quality Management System begins with understanding the current organisational environment, which includes things like structure and culture as well as a leadership style (Akanmu et al., 2020). Customer satisfaction was a key consideration in the development of Barclays’ quality management system.

EFQM is evident in the bank’s procedures, which have been scrutinized in depth by the bank’s auditors. To achieve excellence, the EFQM relies on five enablers and four outcomes (Carmona et al., 2016). Enablers are concerned with how a company accomplishes its work, whereas outcomes are concerned with the results it achieves. Results are generated through enabling factors, while enablers may be enhanced via the use of feedback from those results (Khan et al., 2017).

This methodology helps the company to examine its real condition according to European quality measures and determine its advantages and disadvantages in accomplishing goals (Harthy et al., 2020). Within the annual report, Barclays says it gathers and assess information on the 9 EFQM model criteria and employs the applicable improvement plan to boost each criterion’s performance. The bank’s planned quality management system (QMS) looks like this.

Quality Management System Dissertation
Quality Management System Dissertation

The EFQM model establishes the framework for QMS quality measurements to be focused on, as seen in the image above. It collects information on EFQM enablers, including employees, leadership, strategy, and products/services (Elrayeh, 2016). Customer satisfaction feedback is utilised as a quality indicator for the people criteria, whereas financial development data is employed as a metre for products and services (Waduu et al., 2019).

These quality criteria are a reflection of the leadership’s commitment to employee development, involvement, and the organization’s overall mission. Continuous improvement is possible because of this system’s design (Mahmood, 2020). The subsequent phase is to formulate quality policies, define roles and duties within the QMS, make a strategy for the management of risks and opportunities, and, as the last step, devise strategies for the regulation of change.

Elements of TQM

There are several fundamental QM components and building blocks, including ethics, integrity, trust, education, collaboration, leadership, and recognition. An employee’s code of ethics is a set of rules that he or she is expected to follow at all times while at work (Harthy et al., 2020) Customers both internal and external expect the bank to uphold a high standard of integrity.

Ethics and integrity lead to trust, which in turn determines the level of ownership and dedication to an organisation. Ethics and integrity are demonstrated through the bank’s CSR, which can be found in its society criteria in the EFQM (Odeny, 2016).

With so much face-to-face contact between customers and staff, the foundation of every successful business is solid training, collaboration, and strong leadership. TQM training helps employees acquire the skills and information they need to properly execute the concepts (Khan et al., 2017). For the bank to meet its quality goals, staff must work together as a team. Investments in quality assurance are a sign of the company’s dedication to quality management.

Quality Assessment Standards

An ISO 9001 certification indicates that the bank meets the quality standard. International quality assurance standard ISO 9001 offers precise QMS standards for the company’s leadership, planning, operating, assessment and improvement activities (Odeny, 2016). Such measurements are used by organisations to demonstrate their capacity to fulfil all applicable consumer and regulatory criteria for their products and services.

The TQM system helps banks achieve their strategic goals by satisfying the needs of their customers (Ishibashi et al., 2021). The QMS can assist the bank in achieving its strategic objectives by meeting the demands of all stakeholders. The QMS is linked to banks’ strategic goals by aligning it with stakeholder needs.

Quality Metrics for Stakeholders

The bank provides quality for all stakeholders by regularly reviewing ways to enhance metrics to satisfy their demands (Carmona et al., 2016). Various types of stakeholders’ data are gathered, including the following:

Customers

  • Rates of digital involvement with clients
  • Complaint scores are a measure of consumer satisfaction
  • The number of bank workers who advocate working there
  • Customers who would suggest the bank’s products and services to their friends and family members
  • Monitoring the degree to which workers are aligned with the intended company culture is the goal of this indicator

Society

  • The yearly carbon dioxide emissions
  • Number of participants in the institution’s Life Skills programme; the bank hopes to increase financial capability and employability in the community

Investors

  • The bank examines financial results such as revenues, market shares, operating expenses, and equity to determine how to provide attractive returns for investors (El Manzani et al., 2019). Measuring the operational costs aims to tighten budgets and increase productivity for the business.

Key Trends in Quality Management

Competition and increasing consumer expectations are the primary motivators of quality management. Stakeholder opinions of a company’s brand and overall quality/services are referred to as perceived quality (Bagur-Femenías et al., 2016). Intelligent quality management uses modern technology and smart systems to improve corporate operations, processes, and product quality (Kumar et al., 2018). The human-focus strategy leverages people to satisfy the company’s service offerings and stakeholder satisfaction.

These tendencies are important to consider since the example firm operates in a sectorof the economy that is highly competitive and marked by consistent market shifts (Barclay et al., 2017). A good example of a cloud-based technology user is the banking industry. Barclays has also adopted cloud technology to customise its clients’ digital experience to current technological advancements.

Companies that go out in front of the game or catch up quickly are more likely to have a leg up on the competition (Demir et al., 2021). That’s why it’s so important for a firm to be up to date on the latest trends to remain relevant in the marketplace.

Cloud computing, in keeping with current market demands, shows the company’s capacity to implement intelligent quality control systems (Hicks et al., 2019). Barclays also places a high value on its social duties, including reducing its impact on the environment and combating climate change. Perceived quality is directly linked to a brand’s image, regardless of its corporate social responsibility (Leung et al., 2021).

Many studies have shown that a company’s CSR policies have an impact on customer happiness and loyalty as well as its financial performance. Customers’ impressions of a company are shaped by their impressions of its perceived quality, which in turn shapes their loyalty to the brand.

Human-centeredness is seen in the bank’s culture of soliciting input from its stakeholders to enhance its business practices. Human-centred strategies lead to higher levels of employee loyalty and productivity (Nyanaro et al., 2018). There is a correlation between a company’s ability to compete in the long term and its ability to develop and retain its human resources.

Intelligent quality management systems, which monitor and forecast problems with minimum human interaction and allow real-time communication with stakeholders, can also help the bank achieve its quality targets at a cheap cost (Tahri, 2018). Barrington can use evidence-based methods to improve and make decisions.

Quality Management System Alignment Expectations with the Trends

These new trends will be easier to implement if the organisation has the right resources and competencies in place. For a smooth transfer, you need financial resources, skills, and a well-trained team behind you (Demir et al., 2021). In addition, the business may assist such adoptions by reconfiguring its approach well with current developments in Quality Management. Incorporating QM trends into new strategic goals allows it to realign its overall strategy.

Having a strategy aligned with current trends will ensure that resources are allocated accordingly (Maina, 2017). These new trends may be adopted by empowering and encouraging individuals to accept the organisational transformation. Employees can be retrained or reskilled to help them adapt to the new environment.

New quality initiatives may face difficulties in gaining stakeholder buy-in. QM often fails because of CEO disinterest. Even if intermediate management is successful, success is unlikely without upper management’s commitment (Hicks et al., 2019). Risk aversion and a lack of understanding of the relevance of Quality Management have contributed to the lack of CEO support for a created project.

Investment may be discouraged by the high cost of implementing and maintaining QM trends, particularly intelligent quality management systems (Desjardins, 2020). The administration may be reluctant to continue funding the project if it does not show a favourable return on investment.

Conclusion

The quality management procedure at Barclays has been modified to incorporate the concepts of customer orientation, leadership, continuous improvement, communication, and staff involvement (Tahri, 2018). Customers’ loyalty and retention are enhanced by the bank’s TQM, which adds favourably to its financial performance and productivity.

Investors should seriously examine TQM as an alternative source of competitive advantage in light of the competing demands in the business sector (Hudnurkar et al., 2019). For the firm to reach its greatest potential, it needs its entire support. They should help the organisation financially and with leadership skills to drive and sustain positive transformation.

References

Akanmu, M.D., Hassan, M.G. and Bahaudin, A.Y.B., 2020. A preliminary analysis modeling of the relationship between quality management practices and sustainable performance. Quality Management Journal, 27(1), pp.37-61.

Al Ghamdi, A.A., Aziz, F.S.B.A., Yusoff, R.Z. and bin Mustafa, M., 2016. The Moderating Role of knowledge management on the relationship between employees’ commitment and total quality management: A Study on the public healthcare sector in Saudi Arabia. International Review of Management and Marketing, 6(4), pp.790-797.

Bagur-Femenías, L., Perramon, J. and Barquero, J.D., 2016. Does intensive social network management lead to positive effects in quality practices?. Total Quality Management & Business Excellence, 27(11-12), pp.1246-1260.

Barclay, L.J., Bashshur, M.R. and Fortin, M., 2017. Motivated cognition and fairness: Insights, integration, and creating a path forward. Journal of Applied Psychology, 102(6), p.867.

Bouranta, N., Psomas, E., Suárez-Barraza, M.F. and Jaca, C., 2019. The key factors of total quality management in the service sector: a cross-cultural study. Benchmarking: An International Journal.

Carmona-Márquez, F.J., Leal-Millán, A.G., Vázquez-Sánchez, A.E., Leal-Rodríguez, A.L. and Eldridge, S., 2016. TQM and business success: Do all the TQM drivers have the same relevance? An empirical study in Spanish firms. International Journal of Quality & Reliability Management.

Demir, A., Budur, T., Omer, H.M. and Heshmati, A., 2021. Links between knowledge management and organisational sustainability: does the ISO 9001 certification have an effect?. Knowledge Management Research & Practice, pp.1-14.

Desjardins, C. and Fortin, M., 2020. From split seconds to lifetimes: the temporal fabric of fairness dynamics. In Handbook on the Temporal Dynamics of Organizational Behavior. Edward Elgar Publishing.

Diekola, A.M., 2016. The moderating effect of environmental regulation and policy on the relationship between total quality management (TQM) and organizational performance in the Malaysian food and beverage companies (Doctoral dissertation, Universiti Utara Malaysia).

El Manzani, Y., Sidmou, M.L. and Cegarra, J.J., 2019. Does IS0 9001 quality management system support product innovation? An analysis from the sociotechnical systems theory. International Journal of Quality & Reliability Management.

Elrayeh, G.A.E., 2016. Causes of non-Implementation of ISO 9001: 2008 Quality Management System in Sudanese banks (Doctoral dissertation, Sudan University of Science and Technology).

Harthy, A.M., Aslam, N., Al Saqri, S.M., Arni, S., Nair, S. and Karim, A.M., 2020. The Use of Structural Equation Model (SEM) to Evaluate the Effectiveness of ISO 9001 Quality Management System (QMS) on the Performance of Oil and Gas Drilling Companies. International Journal of Business and Management, 15(1).

Hicks, A., Barclay, J., Chilvers, J., Armijos, M.T., Oven, K., Simmons, P. and Haklay, M., 2019. Global mapping of citizen science projects for disaster risk reduction. Frontiers in Earth Science, p.226.

Hudnurkar, M., Ambekar, S. and Bhattacharya, S., 2019. Empirical analysis of Six Sigma project capability deficiency and its impact on project success. The TQM Journal.

Ishibashi, F., Kobayashi, K., Kawakami, T., Tanaka, R., Sugihara, K. and Baba, S., 2021. Quality management system for screening esophagogastroduodenoscopy improves detection of Helicobacter pylori-negative interval gastric cancer. Endoscopy International Open, 9(12), pp.E1900-E1908.

Khan, M.I., Khan, K.I., Sheeraz, M. and Mahmood, S., 2017. Impact of quality management practices on the performance of manufacturing sectors. Abasyn Journal of Social Science, pp.1-17.

Kugbonu, J.M., 2020. Total quality management practices and customer retention at Unity Rural Bank, Ghana (Doctoral dissertation, University of Cape Coast).

Kumar, V. and Sharma, R.R.K., 2018. Leadership styles and their relationship with TQM focus for Indian firms: An empirical investigation. International Journal of Productivity and Performance Management.

Leung, C.Y., Barclay, J.E., Botz, C.T., Hanf, N.K., Jasperson, J.C., Kirby, K.N., Mull, C.J., Shinde, A.S. and Vogl, M.M., 2021. Change management: A framework for measuring and implementing organisational change. Management in Healthcare, 5(4), pp.299-316.

Mahanga, M.Y., 2016. The impact of customer care on customer attraction and retantion in Tanzania: a case study of Barclays bank Dar es salaam (Doctoral dissertation, The University of Dodoma).

Mahmood, W., 2020. The influence of total quality management, school climate and job satisfaction on school performance in government schools in Pakistan (Doctoral dissertation, Universiti Utara Malaysia).

Maina, J., 2017. Effects of Environmental Factors on Performance: A Case of Barclays Bank (Doctoral dissertation, United States International University-Africa).

Nyamari, P.M., 2017. Effect of total quality management practices on operational performance of commercial banks in Mombasa County, Kenya (Doctoral dissertation, University of Nairobi).

Nyanaro, N.N. and Bett, S., 2018. Influence of strategic planning on performance of commercial banks in Kenya: Case of Barclays Bank of Kenya. International Academic Journal of Human Resource and Business Administration, 3(2), pp.235-255.

Odeny, B.A., 2016. The Influence of service quality on performance of Barclays Bank of Kenya Limited (Doctoral dissertation, University of Nairobi).

Parvadavardini, S., Vivek, N. and Devadasan, S.R., 2016. Impact of quality management practices on quality performance and financial performance: evidence from Indian manufacturing companies. Total Quality Management & Business Excellence, 27(5-6), pp.507-530.

Rafailidis, A., Trivellas, P. and Polychroniou, P., 2017. The mediating role of quality on the relationship between cultural ambidexterity and innovation performance. Total Quality Management & Business Excellence, 28(9-10), pp.1134-1148.

Salah, S.A., 2018. Total quality management practices and performance of commercial banks in Garissa County, Kenya. International Academic Journal of Human Resource and Business Administration, 3(1), pp.52-67.

Tahri, A., 2018. Consumer based brand equity in retail banking industry: a cross analysis of a domestic and global bank operating in the UK (HSBC vs Barclays) (Doctoral dissertation, Anglia Ruskin University).

Waduu, D.W. and Rugami, M., 2019. Total Quality Management Practices and Performance of Commercial Banks in Kilifi Town, Kenya. International Journal of Current Aspects, 3(VI), pp.1-15.

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MBA Thesis Topics

MBA Thesis Topics

This post intends to provide you with a list of quality MBA thesis topics and how to structure your own MBA thesis. Move universities differ when it comes to writing a thesis, this includes referencing style and word count. The MBA thesis structure below will provide useful when structuring your MBA thesis, I have used the below structure on a couple of occasions and benefited from it.

MBA Thesis Structure – Essential Components

Introduction

Writing a dissertation introduction is perceived as a relatively straightforward aspect of the dissertation writing process. The reason for this may be that we often find typical components in an introduction that we can use, regardless of the study we are writing. One of the challenges of writing a good introduction, however, is to be brief, and to stay focused – This will help you with to write the best MBA thesis topics.

An incoherent or unfocused introduction, or one that is over-lengthy, may detract from the overall grade of the dissertation and will not create a good impression on the reader(s). Be mindful that you should avoid being anecdotal in your introduction (i.e. writing as if you are telling a story) and you will also need to avoid wasting words by stating the obvious and writing a series of over-generalized statements.

  • a clear statement of your MBA thesis aims and objectives;
  • the problems to be solved to reach your objectives, and initial ideas on how to solve them;
  • you may also indicate a gap in knowledge, if applicable
  • research questions – if a research project

Literature Review

Unearthing new theories don’t materialise easily out of nowhere; they build upon the findings of previous academic research and explorations. A literature review illustrates how the academic investigation you are conducting fits with what has been written before and puts it into perspective. A literature review demonstrates to your reader that you are able to:

• Understand and critically analyse the background research
• Select and source the information that is necessary to develop a context for your research
• Shows how your investigation relates to previous research
• Reveals the contribution that your investigation makes to this field
• Provides evidence that may help explain your findings later

If you are doing a dissertation, or significant assignment it is likely that you will need to include a literature review. If you are doing a lab write-up or a shorter report, some background reading may be required to give context to your work, but this is usually included as an analysis in the introduction and discussion sections.

What is a literature review?A literature review is an analysis of existing research which is relevant to your research topic, demonstrating how it relates to your investigation. It explains and justifies how your investigation may help answer some of the questions or gaps in this area of research.

A literature review is not a straightforward summary of everything you have read on the topic and it is not a chronological description of what was discovered in your field. A longer literature review may have headings to help group the relevant research into themes or topics. This gives a focus to your analysis, as you can group similar studies together and compare and contrast their approaches, any weaknesses or strengths in their methods, and their findings.

One common way to approach a literature review is to start out broad and then become more specific. Think of it as an inverted triangle. (1) First briefly explain the broad issues related to your investigation; you don’t need to write much about this, just demonstrate that you are aware of the breadth of your subject (2) Then narrow your focus to deal with the studies that overlap with your research. (3) Finally, hone in on any research which is directly related to your specific investigation.

Proportionally you spend most time discussing those studies which have most direct relevance to your research. How do I get started? Start by identifying what you will need to know to inform your research:

  • What research has already been done on this topic?What are the sub-areas of the topic you need to explore?

  • What other research (perhaps not directly on the topic) might be relevant to your investigation?

  • How do these sub-topics and other research overlap with your investigation?

  • A discussion of the technical literature you have read, explaining why it is relevant for your project critical analysis, e.g. strength, applicability and weakness

  • Identify any knowledge/research gap and how you may address this gap, if applicable

    • Note down all your initial thoughts on the topic. You can use a list to help you identify the areas you want to investigate further. It is important to do this before you start reading so that you don’t waste time on unfocused and irrelevant reading.

    Searching for sources It’s easy to think that the best way to search for texts is to use the Internet – to ‘Google it’. There are useful online tools that you may use, like Google Scholar. However, for most literature reviews you will need to focus on academically authoritative texts like academic books, journals, research reports, government publications. Searching Google will give you thousands of hits, few of them authoritative, and you will waste time sorting through them. A better idea is to use databases. These are available through the Library in paper and electronic (usually online) forms.

    MBA Thesis Topics
    MBA Thesis Topics

    Requirements – MBA Thesis Topics

    • User requirements for the target system, if applicable; or
    • Requirements to achieve the success of your project

    Evaluation Framework

    • Evaluation of your proposed system (if building a software system); or
    • evaluation of your research project, including e.g.
      • quality of data used: e.g. reliability, coverage/completeness
      • quality of data collection method, e.g. limitations of sampling methods
      • quality of analytical methods used, e.g., any limitations? Any bias?
      • quality of conclusions drawn, e.g. are they affected by potential bias of input data due to methods used, incompleteness of data, etc.
      • quality of presentations, e.g. which visualisations used to view complex data – what diagrams have been used, are they suitable?
      • quality of tools used, e.g. are they appropriate? Have you encountered any problems, if so, how did you overcame them?

    Methodology

    • initial design of software or design of experiments, if applicable; or
    • methodology for carrying out your research project, inc. where/how you plan to source your data, how you plan to group them, what methods you plan to deploy for analysis,
    • you can draw a methodology diagram for this.
    • Questionnaire, if any.

    Project Plan

    • PLES issues
    • Timetable and work plan for the whole year, agreed with your supervisor, and specifying activities, deliverable and deadlines. See an example timetable here: project management information:
    • Make sure that you have clearly labelled your time allocation on evaluation and how you will meet the deadlines, etc.
    • Risk analysis and remedies/management

    References

    Appendix (as needed)

    An appendix (plural is “appendices”) is a section added to the end of your dissertation. It includes material that expands and explains the subject matter you have discussed in earlier sections. Each appendix should cover a distinct aspect of your subject. Follow the steps below and you will learn how to write an appendix and its importance to your writing. This is essential for MBA thesis topics.

    • Blank consensus form (if interview/survey are to be conducted)
    • Blank questionnaire (if interview/survey are to be conducted)
    • Data tables or diagrams (if appropriate)
    • Copy of questionnaire or survey
    • Copies of personal correspondence
    • Interview questions
    • Transcripts of interviews
    • Large graphs
    • Maps
    • Illustrations or photographs
    • Explanation of technical information or formulas
    • Diagrams
    • Raw data

    And that’s it, everything you need to include. As with everything, it’s a good idea to check with your dissertation supervisor before handing in as they’re the authority on how your University wants your dissertation. Remember, it’s the starting that’s the hard part, once you’ve sat down and committed the time, it should come quite easily.

    MBA Thesis Topics Notes

    1. Always check the marking sheet/rubric and make sure that you have meet all of the required work. Also make sure that you observe the percentage allocation for each of the categories and that you have provided sufficient to meet the percentage.
    2. The above is the minimum set of requirements. If you have done more than what is suggested here, for instance a preliminary implementation or tests of existing software tools, by all means report it.
    3. Make sure you do not exceed the maximum pages allowed. If you have useful graphs and data, you can include them in appendix.
    4. Make sure you run spell checker to make sure there is no spelling errors.
    5. Make sure you have a clear format
    6. Make sure you use formal language

    Any special format? The cover sheet must include:

    • your full name
    • your supervisor’s name
    • title of your project
    • the captions “Deliverable One”

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    Thanks for taking the time out to read this MBA thesis topics blog post and I hope you found it useful. I would be grateful if you could share this blog post via Twitter, Facebook, or Google+ I would like to generate as much social media buzz around this post.

    Globalization and Outsourcing

    Globalization and Outsourcing

    Globalization is a phenomenon that has swept across most sectors of the globe leaving firms to adjust to the changes that are occurring. The rise of competition Is one example of an aspect that has emerged within the twenty-first century, especially due to a dissolution in trade barrier that marked numerous markets as impenetrable. With globalization escalating gradually, businesses have gained an exposure opportunity to learn more as well as share tips on better ways of approaching futuristic growth. The following report will expound on globalization as a phenomenon, as well as its associated impacts within the modern day era. 

    From an entrepreneurship perspective, the duties and functions that defined the modern-day capitalist or businessperson, have significantly complicated with time. Ideally, the 21st century, unlike its predecessors, has been defined by a revolutionary economic, educational, political, and social landscapes, elements that have emerged as a result of globalization.

    Interestingly, the emergence of the phenomenon has transformed the manner in which man does business, given that it has erased the limitations that were nurtured by geographical borders as well as trade barriers, an aspect that has resulted in man embracing new synergies that will offer him or her competitive advantage over other similar players in the same market niche. The following report will further expand on wise investment moves as well as tactics such as outsourcing and offshoring that managers can apply to realize a wider economy of scale as well as achieve a greater competitive advantage. By utilizing the Case study of Telstra Call center services Outsourcing and offshoring, this report will expound on the impact, opportunities, as well as challenges, Globalization, and its associated strategies, have imposed on business operations especially on the global scale.

    The World as we know it is currently evolving at unprecedented levels, an aspect that is reconfiguring and transforming the manner in which business, as well as trade, is conducted. As a result of the rampant transformation, goods and services have become easily accessible for most people across diverse regions of the globe. In addition to this, the international business community has continuously expanded as a result of favorable influences that have been nurtured by the economic reconfiguration and transformation. But, what is all this economic reconfiguration and transformation? The 21st century, unlike its predecessors, has been defined by a revolutionary economic, educational, political, and social landscapes, elements that have emerged as a result of globalization. The emergence of globalization as a phenomenon has transformed the manner in which man does business, given that it has erased the limitations that were nurtured by geographical borders as well as trade barriers (Beck, U. 2018, P. 35).

    From an entrepreneurship perspective, the duties and functions that defined the modern-day capitalist or businessperson, have significantly complicated with time. Why and How? With factors such as competition escalating as a result of the globalization aspect, most entrepreneurs have embarked on redefining the rules of trade and business engagement provoked by the need to craft and embrace new synergies that will offer them competitive advantage over other similar players in the same market niche (Hay, C. and Marsh, D. eds. 2016, p. 52). As a result of the shift in momentum, it is crucial to note that today’s economic environment has shifted its dependency from the public sector to the public sector, given that the later has emerged to be the global powerhouse, while the former segment has continuously shrunk in size, cumulatively losing its prior influence and relevance in the economy setting.

    Globalization and Expansion

    In spite of Globalization nurturing numerous advantages from an economic growth perspective, it is crucial to note that the phenomenon has also escalated the rate of competition present across all trade sectors. The given aspect has manifested as a result of numerous entities across diverse regions entering the market, with each unit producing a similar commodity, to an already existing product. The escalation of competition has provoked most organizations to invest heavily in expanding their operations onto a global scale, efforts that have emerged based on the need to grow and expand the market niche that each organization claims and controls (Beck, U. 2018, P. 27). As an approach, the expansion to international markets has provided firms with an opening to increase their returns, realize other potential economic opportunities, as well as improve their image perception and brand loyalty. Although there are also challenges associated with the entry into foreign markets, the manner in which a venture tackles the emerging challenges significantly determines its survival chance in the new territory.

    Outsourcing and Offshoring

    Outsourcing is a strategy that has been employed by numerous institutions, which have pursued the global expansion route, based on its cost-cutting approach. When entering new markets, firms have always been primarily challenged by their ability to adopt, embrace, and conform to new customs, cultures as well as language that define the new market (Solli-Sæther, H. and Gottschalk, P. 2015, p.90).

    Outsourcing as a platform provides a solution to such challenges among others, by utilizing the local manpower within the new economic niche as the organization’s workforce. The following report will expound on globalization and its impact on today’s businesses as its foremost agenda. Furthermore, this paper elucidates on tactics that managers pursuing expansion into the international market should observe if they wish to remain ahead of the game. In the second segment, the publication will analyze outsourcing and offshoring, coupled with their contribution to globalization, based on an Australian firm Case study.

    Globalization and Today’s International Managers

    Globalization as a concept is not new as one may perceive it to be, given that the concept has existed for centuries, only evolving with time to its present state. By definition, Globalization is a term that refers to the gradual but global integration of the numerous states economies, through the production of goods and services, trade escalation, as well as investment flows (Hay, C. and Marsh, D. eds. 2016, p. 11). From a phenomenon perspective, globalization emerged as a result of the global outreach fever that swept most nations, transgressing through each of the states military economic, trade and geopolitical niches. The cumulative impact of the global outreach manifested in the erosion of national economic borders, an element that embraced the emergence and growth of integrated international economies.

    From a profile perspective, globalization has been defined by; the emergence of global corporations, robust internalization of production related economic activities, growth in the level of specialization, and escalating disaggregation of production. How has this been possible? Globalization as a phenomenon has consistently relied on policy changes as well as technological growth as catalyst platforms (Teece, D. Peteraf, M. and Leih, S. 2016, p. 19).

    From a policy perspective, the creation and amendment of numerous trade policies has resulted in the dissolution of trade tariffs and barriers, an element that has opened up and exposed the local markets to international products, while also local products from different nations have been able to trade on the global market platform (Beck, U. 2018, P. 42). Evidently, nations such as Australia, China, and Dubai, all of which opened up their markets to trade and embraced international brands, have gained immensely from Globalization, an aspect that is visible in each state’s current market situation. 

    Technology as the second catalyst factor propelled the evolution of globalization to what it is today. How So? As a result of its rampant evolution, technology has been integrated into man’s life as a crucial platform in his civilization. The emergence of a technology-based lifestyle, shifted the manner in which consumers’ access, shop, and order for their products, as well as the strategy in which manufacturers, industrialists, and producers advertise, retail, and distribute their products (Hay, C. and Marsh, D. eds. 2016, p. 52). Given that the dependency on technology is still expected to escalate with time, the business world has realized of its importance in globalization and the influence it imposes in the productivity, of goods and services as well as the consumption of the products.

    Impact of Globalization: A Business Perspective

    Globalization as an economic exposure platform has brought along with numerous advantages as well as implications both from the producer as well as consumer’s perspectives. When focusing on the producer side, which primarily made up of entrepreneurial organizations within the private sector, it is crucial to note that globalization has exposed the sector to competition, fluctuation in prices, as well as the substandard quality of products (Kraidy, M. 2017, p. 31). The following segment will offer an in-depth view of Globalization from a business perspective.

    It is crucial to note that from the consumer’s end, globalization has been perceived to bear numerous benefits over time. However, that may not be necessarily the case when the aspect is perceived from a business perspective. The increased exposure of markets has also escalated the vulnerability of ventures both in local and international economies to a myriad of unforeseen risks, aspects that will be expounded on below.

    Globalization and Outsourcing Dissertation
    Globalization and Outsourcing Dissertation

    Intense Competition

    Competition as the first impact of globalization emerges from the opening up of local markets as well as the integration of economies. It is crucial to note that exportation and importation, as well as outsourcing of product and services are crucial aspects of globalization. Unfortunately, the given elements have created an influx of substitute commodities to most products in diverse markets (Donati, P. 2017, p. 15). The cited aspect which has emerged as the entry of new players into the market culminated in the escalation of competition between existing firms and the new entrants. Cumulatively, although the approach has compelled previously existing firms to improve their quality of products and services, it is unfortunate to note that the cost of competition has been overwhelming for firms in markets that are defined by numerous players.

    Price Fluctuations

    Fluctuation of prices as the second impact of globalization is highly associated with competition and market saturation. It is crucial to note that although globalization opened up local and international markets, the platform also led to the saturation of various markets that were already defined by a presence of numerous existing local players. Most of the international entrants into local markets were able to supply the consumers with alternative or substitute commodities, to local options at a lower price and even a better quality (Teece, D. Peteraf, M. and Leih, S. 2016, p. 27). Case in point, China’s products are renowned for their cheap price, although inconsistent quality. The given aspect nurtures price fluctuation of commodities because local producers will always be compelled to adjust their prices in a bid to compete with foreign producers, and the cost of their commodities, an aspect that culminates in the unsteady prices of goods.

    Substandard Quality of Goods

    The quality of a product as well as the brand it has crafted for itself, are aspects that significantly shape customer loyalty and satisfaction. Globalization as a phenomenon has compelled most firms operating in the international platform to outsource their products to developing nations, in a bid to realize a wider competitive advantage, margin when compared to other firms operating in the same niche (Kraidy, M. 2017, p. 22).

    The downside of outsourcing is that for most organizations, the ability to observe a given set of quality standards becomes impossible especially when the firm focuses on offering services, or manufactured goods. Cumulatively, although globalization is inevitable, its impacts can be positive as well as be overwhelming for organizations without adequate control structures. The following segment will expound on strategies that international managers can adopt in a bid to remain afloat if not advance in the face of stiff and harsh globalization-induced changes.

    Today’s International Managers: Winning tips amidst fierce competition

    Drawing from the above analysis of globalization, it is evident that the phenomenon has significantly reshaped the manner in which organizations functions, and conduct business, especially within the international market platform. In spite of the prevalent changes, there are several tactics that wise international managers can utilize to continuously attain growth in returns, and market share. In addition to this, the tactics will enable an organization to establish a reputable image that retains a wide base of loyal customers.

    Globalization, Identifying and analyzing the existing and potential Competition

    For an organization to stay ahead of its competitors within any market niche, the firm should be aware of the existing threats, an aspect that can only be realized by conducting a thorough competitor’s analysis. It is crucial to note that any industry with new players and startups joining every day is considered to aggressively active, and as such, any firm operating within such a niche should consistently update its analysis in a periodical manner (McLean, M. 2018, p. 35). When analyzing the potential threats, it is crucial to identify the primary and secondary competitors as well as the level of threat each player imposes on your particular firm. By doing so, a manager can analyze the strengths and weaknesses of potential and existing competitors, in addition to making strategic moves that will consistently position the organization ahead of the competition. 

    Assessing and Understanding the Target Market

    In any business competition, it is crucial to note that the clients or consumers always represent the judges, as their choice embodies their final opinion about their desired product. In any market niche, a wise international manager will always assess the audience, its expectation, and needs, as well as demands. It is crucial to note that consumer behaviors keep on changing depending on the influence of macro factors such as economic conditions (McLean, M. 2018, p. 54). In such an instance, an astute director establishes constant communication with the organization’s existing and prospective clients, as an approach to remain informed and update on consumer concern, predictions as well as desires. By doing so, a firm can adjust its product pricing, market strategies, product packaging, and promotional campaigns in a manner that will attract potential clients and retain the existing ones.

    Outsourcing and Offshoring, Telstra Case study

    Outsourcing, when defined, refers to the process whereby a firm subcontracts the organization’s tasks and mandates to various external organizations that have specialized in providing the desired service. In other cases, outsourcing also involves a practice whereby an organization acquires a smaller firm with adequate resources and employees to run its tasks. Cumulatively, outsourcing revolves around the breaking down of a given function, and it’s subsequent assigning to third parties (Oshri, I. Kotlarsky, J. and Willcocks, L. 2015, p. 15).

    Offshoring, on the other hand, refers to the purposeful relocation of a specific or cumulative business procedure to another new location, such as a country. A good example of offshoring would be when an industrial firm physically relocates its manufacturing process to a new state. The main difference between offshoring and outsourcing is that the former focuses on establishing an operation in a new state as a result of repositioning, while the latter primarily refers to the subcontracting of a firms’ task or duty to a third party which in most cases is usually an external organization (Solli-Sæther, H. and Gottschalk, P. 2015, p.90).

     The fierce aspect of globalization has compelled firms’ overtime to search for innovative and alternative approaches to getting the work done efficiently. Outsourcing and Offshoring have emerged to be promising alternatives means of meeting the production needs of any company. By employing the two approaches, numerous international firms have been able to regulate and cut down operational costs, free up internal resources to support other crucial sectors, and streamline time-consuming functions (Oshri, I. Kotlarsky, J. and Willcocks, L. 2015, p. 48). 

    Telstra Outsourcing

    Telstra within Australia is presently recognized as the largest media and Telecommunications Company, offering services that include; operating telecommunication network, as well as a vast range of entertainment and communication product and services. As a firm, Telstra prides its purpose to be creating a brilliant and connected future for everyone, a vision it has managed to achieve over time through the expansion of its products and services towards the international telecommunications market.

    Expanding into the international market is a move that Telstra implemented provoked by the need to grow the company’s portfolio onto the next level, in addition to embracing the global market platform (CX Central. 2018b, p1). In its expansion operations, the firm has gradually relied on outsourcing and offshoring as approaches to realize its economies of scale and competitive advantage over other players present in the telecommunications industry. One particular and crucial department that the firm has constantly outsourced and offshored to India, Manila, and Perth is its call center operations (CX Central. 2018, p1).

    Essentially, under the firm’s international operations plan, Call centers are usually overwhelming departments that are defined by large volumes of low severity type of work. If the firm was to house most of call center operations within its main headquarters back in Australia, evidently quite extensive resources would be committed to the department, to the extent of overwhelming significance performance targets of the institution. Thus by outsourcing and offshoring call center services, the firm is primarily able to focus its resources on dealing with challenging and more severe issues affecting its product portfolio, brand depiction, and customer market base (CX Central. 2018, p1).

    Challenges of Outsourcing and Offshoring

    Two of the major challenges that Telstra has realized in its international expansion conquest, are cultural and language barriers. As a telecommunication firm, Telstra is constantly in touch with its customer base compelled by the need to introduce and sell new products, as well as offer supportive services (CX Central. 2018b, p1). Given that the firm opts to outsource and offshore its call center operations, most of its customer base across the western world have been complaining of an ineffective call center support base, as in most situations their needs and demands have often been unmet (CX Central. 2018b, p1).

    One good example was a recent scenario, where an American customer received poor call center support services that were perceived to be abusive and culturally insensitive, especially after the firm had withdrawn its support for same-sex relationships (CX Central. 2018, p1). It is unfortunate to note that the given aspect resulted from a conflict in cultural and linguistic customs between the firm’s support staff and a worried client, an aspect that could have been deterred if the firm offered locally based call support from America or Australia.

    Globalization, Outsourcing and Offshoring Opportunities

    From an opportunity perspective, Telstra was able to run its call center support services at a lower cost especially given that the standard labor wage of employees in most of the countries that the firm outsourced its operations are way below what Telstra was offering its initial employees. Additionally, the firm, thanks to outsourcing and offshoring was able to free up more resources back at home and commit them to more severe and demanding issues associated with the firm’s growth and future projections.

    In conclusion, it is evident that Globalization is a phenomenon that is here to stay. More so, firm’s that do not embrace this occurrence will gradually become outdated in our ever-changing and first paced world. As economies integrate, there is a crucial need for managers to begin “thinking out of their market niche, and across the globe.” Customer preferences change from time to time, and with that being a significant determining factor of choice, firms should consistently lay down moves that will secure more potential customers besides retaining the existing ones. Additionally, with competition emerging to be a significant defining factor of today’s markets, there is a pressing need for firms to adopt positive elements of outsourcing and offshoring, besides other competition analysis schemes, all in a bid to remain ahead of the curve that is a saturated market full of numerous existing and emerging start-up players. 

    References

    Beck, U., 2018. What is globalization?. John Wiley & Sons.

    CX Central. 2018. Telstra call centre staff in Perth have language problems – CEO | CX Central.

    CX Central. 2018b. Telstra’s offshore call centre has a cultural alignment shocker– CEO | CX Central.

    Donati, P., 2017. Globalization of Markets, Distant Harms and the Need for a Relational Ethics. Rivista internazionale di scienze sociali, 1(1), pp.13-42.

    McLean, M., 2018. Understanding your economy: Using analysis to guide local strategic planning. Routledge.

    Oshri, I., Kotlarsky, J. and Willcocks, L.P., 2015. The Handbook of Global Outsourcing and Offshoring 3rd Edition. Springer.

    Solli-Sæther, H. and Gottschalk, P., 2015. Stages-of-growth in outsourcing, offshoring and backsourcing: Back to the future? Journal of Computer Information Systems, 55(2), pp.88-94.

    Teece, D., Peteraf, M. and Leih, S., 2016. Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, 58(4), pp.13-35.

    Kraidy, M., 2017. Hybridity, or the cultural logic of globalization. Temple University Press.

    Hay, C. and Marsh, D. eds., 2016. Demystifying globalization. Springer.

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    International Trade Government Involvement

    Impact of Government Involvement in International Trade

    International trade can be described as the exchange of services and goods between countries, which gives rise to a world economy where prices are affected by global occurrences (Ajami & Goddard, 2013).  As indicated by (Wild & Wild, 2013, p. 123), international trade has the benefit of offering people in different countries a more expansive selection of goods and services at competitive prices.

    Given that the idea of international trade has dominated business scholarship for some time, differing opinions exist on whether the international trade should adopt a free trade approach or opt for a protectionist approach. Free trade, in this regard, implies the application of a laissez-faire style of commerce, without market restrictions. The central concept in the international free trade is that demand and supply factors, applied on a global level, ensure efficient production, requiring nothing to be done to either promote or protect business growth. In contrast, the philosophy of protectionism insists on the importance regulating trade to ensure proper functioning of markets. Proponents of protectionism hold that certain market inefficiencies can impede the benefits of international trade, thereby requiring the application of mechanisms to guide the market accordingly. This paper explores the primary motives of government interventions and critically analyzes the consequences of the methods of intervention.

    Government intervention in international trade has had a significant impact on trade patterns. Unfair government intervention practices thus have had lasting negative lasing impacts on global economics. This paper looks at the global political economy, reasons for governments to intervene in international trade, consequences of government involvement and ways to prompt the global economy despite the political influence.

    The Motives for Government Trade Intervention

    Though free trade implies the pattern of exports and imports without any barriers, most governments impose controls on trade for cultural, economic and political reasons. While political motivations include protection of jobs, preservation of national security, response to apparently unfair trade practices of other nations and the quest for influence over other countries, the economic motives include the protection of infant industries and pursuance of strategic trade policy.

    Political Motivation: One category of reasons offered for government intervention is political. Most of the political motivations for government interventions are connected to the need for the government to remain popular among its citizens. As indicated by Ajami and Goddard (2013), the political motivations may have little or nothing to do with the economic performance of the country (p. 21).

    One such political motive is to protect jobs and, therefore, prevent an increase in unemployment levels. The idea informs the motive for restricting trade to protect jobs that international trade lowers the number of jobs available locally for the citizens of a country (Wild & Wild, 2013, p. 132). Though this may be true for certain industries, studies have established that trade does not necessarily reduce jobs, since business offers consumers a chance to purchase products at competitive prices, which, subsequently enables them to buy more goods and services. Given that most of the products are locally produced, the enhanced purchasing power of the consumer is likely to stimulate the creation of jobs internationally and locally. Moreover, the protection of certain jobs may not be entirely beneficial, and has been shown to lower economic efficiency. According to Silva, Afonso and Africano (2010), an economy can function at maximum efficiency only when its labor force is mobile, and people are willing to alternate jobs need arises (p. 369). Governments must acknowledge that the nature of the economy and, consequently, jobs are constantly metamorphosing, meaning that even their labor force must be flexible and ready to change.

    Another political reason often offered for government restriction of trade is national security interests. According to Ajami and Goddard (2013), the argument of national security is often a legitimate argument, especially when it concerns the production of weapons and printing of domestic currency (p. 34).  Consequently, industries that are pivotal to national security are offered protection by governments for both imports and exports.

    Governments can, for instance, place restrictions on imports to guarantee domestic supply which preserves national security. It is important to note that national security as it is used here is not exclusive to issues of war and armed security. Rather, the concept of national security implies those goods and services that are critical for the wellbeing of the citizens of the country, including currency, agricultural products, oil, and weaponry. For instance, many countries actively protect their agricultural sectors since countries that depend on agricultural imports to feed their citizens risk starvation in the event of war. Governments also place restrictions on the export of defense-related goods, especially if such exports pose threats to international security.

    The government can also restrict trade in response to apparent unfair trade practices by other nations. In situations where there is a feeling that their governments give certain industries an unfair advantage through subsidies or reduced restrictions, unilateral reduction in restrictions can be applied. For instance, Fertö and Hubbard (2003) show that, compared to industrialized countries, developing countries have significantly relaxed environmental laws, reducing the costs of operation (p. 245). Governments are often inclined to introduce trade restrictions especially in the face of restrictions by other countries.

    Government Involvement in International Trade
    Government Involvement in International Trade

    States can also use trade restrictions to gain influence over other nations, especially the economically less developed. For instance, the China Uses trade interventions to increase its influence in Africa. The idea here is for an economically stronger country to use its position to influence less developed countries, which ultimately offer a market for its products.

    Economic Motives: Besides the political reasons for governments’ intervention in trade, arguments are often fronted on the economic foundations for intervention. Some of the arguments from the economic perspective include the protection of infant industries and pursuance of strategic trade policy. The case for the protection of infant industries is often made so that young industries are protected by the government until they become self-sustaining (Silva, Afonso & Africano, 2010, p. 369).

    However, it is not only infant industries that seek protection. According to Melitz (2003), some mature industries insist that they are protected to enable them to adapt to new business environments and conditions (p.1696). Nevertheless, the idea of protecting companies seems to go against the spirit of healthy competition that allows only the most successful businesses to be sustained. This presents problems to the government seeking to intervene on trade based on the argument of the infant industry. The first challenge would concern how to pick winners and reject losers. The idea also leaves room for people within the echelons of power to use that power to initiate protection for their companies. Besides, protection has the potential of encouraging complacency by domestic companies towards innovation and can limit company competitiveness.

    Regarding the pursuance of strategic trade policy, government intervention can enable a company to enjoy the first-mover advantages and the subsequent economies of scale. The concept of first-mover advantage can be described as a type of competitive advantage that accompany attains by being the first entrant into an industry or a market (Fertö & Hubbard, 2003, p. 251). The understanding here is that, by being the first competitor in a new market, the firm can gain an advantage over its actual and future rivals. This idea applies whether a company is seeking to develop new demographic markets or sections of existent markets, or whether it is looking to introduce new products into its already existent market segments.

    When a business is the first to enter a market, it can form a defensible ground, allowing it to capture the large sections of the market share quickly without being concerns about rivals competing for the same market. Also, by the time the competitors arrive, the first-mover is likely to have advantages in the competition because its products will have gained familiarity, besides other factors like brand loyalty established distribution systems. For instance, being a first-mover in soda production, Coca-Cola was able to develop its brand and build a reputable force in the beverage industry. The biggest problem with the strategic trade policy is that government support is often subject to political manipulation, and certain interest groups can usurp gains with no benefit to the consumer.

    Cultural Motives: Cultures are created and modified through interactions. Consequently, the exposure of citizens of a country to other people and products from other nations can gradually alter the culture of a country. In this line of thought, the undesirable cultural influence caused by interaction with certain products can cause the government to block imports. The United State, for instance, is often perceived as a threat to national cultures due to its influential entertainment, consumer goods, and media.

    Methods of Promoting Trade

    Other than specialization and increased business potential, international trade has been linked to greater efficiency and greater opportunity for foreign direct investment. As described by Wang et al. (2012), foreign direct investment implies the amount of money invested by individuals and corporations in business as well as in research and development (p. 627). By attracting foreign direct investment, economies can grow in their level of competitiveness and production efficiency. For the receiving government, foreign direct investment is a way through which expertise and foreign exchange can enter the country, further stimulating economic growth. Given the importance of international trade to governments as well as consumers, various states adopt steps such as subsidies, export financing, foreign trade zones, and individual government agencies to encourage international trade.

    Subsidies: For our purposes, a grant can be defined as financial assistance to domestic companies in the form of low-interest loans, cash payments, product price supports, or tax breaks. The primary intention of applying subsidies is to increase the advantage of the local companies and compete favorably with international firms. According to the World Trade Report (2006), export subsidies generate incentives for producers to supply products for export rather than for domestic use within a country (p. 56). This can be a drawback since the withdrawal of supply from the local market can lead to increases in the local price of the products. Simultaneously, due to increase in supply to the world market world prices of the product is likely to fall. If the re-importation of products from the world market into the domestic market is prevented, the result is a wedge between the world price and the local price. All the same, the impact of export subsidies on the domestic country is contrary, with local consumers having to pay higher for a product that they are prevented from sourcing from the world market as a lower price.

    Export Financing: In export financing governments promote exports by assisting companies to finance their trade activities through loans as well as loan guarantees. Since funding is crucial, especially for entrants into the export business, the philosophy informing export financing is that by offering loans that would have otherwise been accessible of loans at reduced rates, the government can encourage export business, and enhance the competitive edge of the company. In the United States, for instance, export financing is offered by Export-Import Bank.

    Foreign Trade Zones: A foreign trade zone is an area where goods can be landed, handled, reconfigured or manufactured, and even re-exported without going through customs authorities. The goods only become subject to the prevailing customs duties when they are moved to consumers in the country within which the zone is located. Organized in areas with various geographical advantages for international trade such as Singapore, Stockholm, Hong Kong, and Gdańsk, the primary purpose of the foreign trade zone is to eliminate seaport, border, and airport barriers to trade, often associated with complex customs regulations and high tariffs. Lowering customs facilitates international trade since customs duties elevate the cost of production as well as the time it takes for the products to reach the market. In the United States, for instance, the lowered customs duties are balanced by the created jobs.

    Special Government Agencies: As a way of encouraging international trade, various governments create agencies charged with the promotion of exports. The agencies organize trips for business persons and trade officials to visit other nations and institute trade offices in other countries. These organizations, such as the Japan External Trade Organization not only promote exports but also occasionally encourage imports.

    Trade Unions: Trade unions today play a critical part in moulding the lives of workers, though their influence has considerably diminished over the recent past. The union is often mandated to negotiate conditions and contracts with employers on behalf of the employee. Though the roles of trade unions are numerous, some being more prominent than others, the trade unions core functions can be summarized as social, militant, regulative, and fraternal. In this regards, the militant function implies the struggle that is likely to occur as the union tries to get employers to increase worker remuneration or to address the grievances presented by employees. The main issue addressed here is whether the perceptible incompatibility between industrial relations and employees can be resolved. Resolution of the conflict between trade unions and employers is only possible given the assumption that both parties share the objectives of employee development, fairness, and equity.

    Unions need to acknowledge that collective bargaining may require some redesigning to include a lesser component increasing pay than in the past, and should push for involvement in skill-based and flexible elements of pay. Industrial relations remain the principal way of maintaining industrial order and should focus on approaches to avoiding and resolving disputes and conflicts.

    Methods of Restricting Trade

    Most governments restrict international trade to protect domestic companies from external competition, mostly from multinationals. One such method of restriction is through tariffs. Tariffs are taxes levied on imported products as they enter or leave the country. Tariffs can be categorized as import, transit and export. Import duties are further subcategorized into ad valorem, specific, and compound. An ad valorem tax is levied as a percentage of the cost of the imported good while specific tariff is levied according to each unit (by weight or number). On the other hand, the compound tax is levied as a percentage of the stated price of the imported product, and partly as a specific fee for each unit. According to Wild and Wild (2013), besides protecting local producers and employees from foreign competition, tariffs perform the function of raising revenue for the government (p. 232). Though domestic producers gain from import duties as they are shielded from foreign competition, this protection comes at a cost to the consumer. The consumers often have to pay more for some imported goods. Also, though the producers benefit from the lowered foreign competition, the lack of competitiveness may lead to laxity and reduced overall efficiency.

    Quotas and Voluntary Export Restraints (VER): Quotas and Voluntary Export Restraints (VER) are restrictions directed towards the quantity of certain goods that can be imported into a country (Wild & Wild, 2013, p. 143). The quota limitation is usually imposed by allotting import licenses to a group of firms or individuals. The reason for issuance of allowances is to protect domestic producers by limiting the entry of certain goods into the country. This limitation enables local producers to maintain a considerable market share in to offer decent prices for their products within the country. Like in tariffs, the gain by producers comes at a cost to consumers, who have to contend with high prices caused by impeded competition. A VER, on the other hand, is a unique type of quota imposed by the exporting country upon the request of the government of the importing country. If the domestic producers do not limit production, consumers gain because of lowered prices from the increased supply. Other measures that can be applied by governments to restrict trade include embargoes, content requirements, administrative delays and even currency controls. Ultimately, the reasoning behind restrictions is to protect local companies from foreign competition and to ensure that the economic interests of the country are not ignored during the international trade.

    Conclusion

    Despite the theoretical benefits associated with international trade, governments are not always eager to openly welcome free trade at the expense of domestic businesses. This paper examined the reasons behind the government interventions to protect some of their local industries and the methods they use to offer such protection. Though it is evident from the analysis that many of the strategies like tariffs, the quota system, and subsidies appear to support domestic producers, this support often comes at a cost to the consumer, who often has to pay more for goods. Measures must be put in place to ensure that even in protecting the domestic companies, healthy competition that is important for production efficiency and reasonable pricing of products is not compromised.

    References

    Chaney, T. (2008). Distorted gravity: the intensive and extensive margins of international trade. American Economic Review, 98(4), 1707-21

    Girma, S., Görg, H., & Wagner, J. (2009). Subsidies and exports in Germany, evidence from enterprise panel data. Applied Economics Quarterly, 55 (3), 175-195

    Martincus, C. & Carballo, J., (2008). Is export promotion effective in developing countries? Firm-level evidence on the intensive and the extensive margins of exports. Journal of International Economics, 76, 89-106

    Wang, C., Hong, J., Kafouros, M., & Wright, M. (2012). Exploring the role of government involvement in outward FDI from emerging economies. Journal of International Business Studies, 43(2012), 655-676

    Wild, J., & Wild, K. (2013). International business: The challenges of globalization. Upper Saddle River, NJ: Pearson Education, Limited

    World Trade Report. (2006). Exploring the links between subsidies, trade and the WTO. World Trade Organization

    Other Relevant Blog Posts

    MBA Dissertation Topics

    European Union Regional Economics

    International Relations Theory

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    Project Management Standardization

    Standardization of Project Management

    View This Dissertation Here

    Project Management Standardization Dissertation – Poor project performance has led to industry calling for Standardized Project Management tools, yet it is the organizations themselves who have chosen to overlook or ignore the tools while implementing organization strategy that exists for their assistance. This paper investigates the implications change management practices have on individuals as a result of strategy change, whilst challenging the poor Project Management knowledge and understanding of individuals within project based organizations.

    It also identifies the currently poor application of Project Management theory including the alarming levels of academic qualifications many practicing Project Managers currently hold. The purpose of the dissertation was to explore this call for standardization by conducting a review of the knowledge, understanding and opinions of individuals regarding: change management implications of organization strategy implementation; and organizations? application of Project Management theory.

    Project Management Standardization
    Project Management Standardization

    However, while conducting the review, offering discussion points or arguments, it is important to recognize when talking about Project Management Standardization, it is not an exact science and there are several fundamental floors such as the theory is relatively abstract and many parameters are difficult to be measured as they are usually based upon the opinion of industry personnel with predetermined beliefs.

    The aim of the dissertation was to identify and understand evolving management theory and how it aligns with organization strategy as it was believed that with such a large amount of capital being spent on projects, organizations did not place a high enough level of priority on Project Management processes or academic qualifications. Whether this is a result of ignorance, or just a pure lack of understanding of the implications on the behalf of executive level management, was the basis for discussion throughout the dissertation. Finally projects are aimed solely at either increasing profit in line with organizational mission requirements or increasing efficiency through productivity. So the dissertation is written with the intention of raising awareness to improve project performance and not just to highlight organizational short comings.

    The dissertation aim is to investigate how evolving Project Management theory, organizational strategy and change management implementation and Project Management academic levels influence individual’s perceptions and actions within project based organizations.

    Project Management Standardization Dissertation Objectives

    • To identify and introduce evolving management theory
    • To analyze the role that Project Management has within organizations strategic management processes
    • To investigate the level of understanding individuals within organizations have of Project Management processes
    • To investigate the academic levels of individuals within project based positions
    • Conduct a questionnaire based on the aims, objectives, and literature review formulating a strategic set of questions to challenge senior managers with an interview in relation to the concerning trends

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