Free Consequences of Brexit on Tesco PLC Dissertation Example
Brexit was a revolutionary decision for the EU and the UK at the same time. When the British opted to leave the EU, it initiated a series of debates about how Brexit could influence the UK and its economy. This report is the culmination of a case study on Tesco Plc and how it was affected by the move with efforts directed towards arriving at recommendations to navigate the changes. For this analysis, the research approach of a case study is used because of a variety of benefits it provides. It equips the researcher with the tools he needs to investigate a real-life scenario and analyze what is happening. These impacts were classified into three major themes identified during the course of the project. First, Brexit affected the importation of products from Britain to EU markets and vice versa. It also affected consumer perception and expectations because of expensive trading costs incurred by Britain as a non-EU market. The second theme examines the effects on workforce immigration. Brexit created an unfavorable working environment for foreigners; mainly the nationals of EU nations. The third theme this research identifies is difficulties with opening branches in foreign markets. The Brexit move suppressed the ability of big retail chains such as Tesco Plc to open branches in EU markets. However, it is recommended that the company focuses on innovation and novelty to retain its customers. It provides a good chance for the company to focus more on localizing everything rather than putting a focus on globalization. The report is divided into distinct sections namely introduction, literature review, methodology, findings and finally the conclusion that contains recommendations from the analysis.
Keywords: Tesco PLC, Brexit, Business, Consequences
Table of Contents
TOC o “1-3” h z u Title: The Consequences of Brexit on Tesco PLC PAGEREF _Toc521854612 h 2Acknowledgment PAGEREF _Toc521854613 h 2Abstract PAGEREF _Toc521854614 h 3List of Figures PAGEREF _Toc521854615 h 61.Introduction PAGEREF _Toc521854616 h 71.1.Background PAGEREF _Toc521854617 h 71.2.Rational PAGEREF _Toc521854618 h 81.2.1.What is the Research Issue? PAGEREF _Toc521854619 h 81.2.2.Why is it an Issue? PAGEREF _Toc521854620 h 81.2.3.Why is it an Issue Now? PAGEREF _Toc521854621 h 91.2.4.What could this Research Shed Light on? PAGEREF _Toc521854622 h 91.3.Aims, Objectives and Research Question PAGEREF _Toc521854623 h 91.4.Overview of the Research Methodology PAGEREF _Toc521854624 h 101.5.The organization of the Report PAGEREF _Toc521854625 h 102. Literature Review PAGEREF _Toc521854626 h 112.1. Introduction/Overview PAGEREF _Toc521854627 h 112.2. What is Brexit? PAGEREF _Toc521854628 h 112.3. Goods Imported and Expectations PAGEREF _Toc521854629 h 132.4. Immigration on the Workforce PAGEREF _Toc521854630 h 152.5. Having Branches outside the EU PAGEREF _Toc521854631 h 162.6. Conclusion PAGEREF _Toc521854632 h 173.Methodology PAGEREF _Toc521854633 h 183.1.Brief Introduction of the Chapter PAGEREF _Toc521854634 h 183.2.Research Approach – Qualitative Approach Case Study PAGEREF _Toc521854635 h 193.3.Research Methods PAGEREF _Toc521854636 h 213.4.Data Collection and Analysis PAGEREF _Toc521854637 h 243.5.Ethics PAGEREF _Toc521854638 h 263.6.Reliability and Validity PAGEREF _Toc521854639 h 273.7.Conclusion PAGEREF _Toc521854640 h 284.FINDINGS PAGEREF _Toc521854641 h 294.1.INTRODUCTION PAGEREF _Toc521854642 h 294.2.Theme 1 – Goods Imports and Expectations PAGEREF _Toc521854643 h 294.3.Discussion PAGEREF _Toc521854644 h 344.4.Emerging Issues or Critique PAGEREF _Toc521854645 h 355. Conclusion PAGEREF _Toc521854646 h 375.1. Overview of the Study PAGEREF _Toc521854647 h 375.2. Limitation of the Study PAGEREF _Toc521854648 h 385.3. Future Research PAGEREF _Toc521854649 h 385.4. Recommendations PAGEREF _Toc521854650 h 39References PAGEREF _Toc521854651 h 42Appendix PAGEREF _Toc521854652 h 46
List of Figures TOC h z c “Figure” Figure 1: Brexit Referendum PAGEREF _Toc520742091 h 8Figure 2: EU External Trade in Service by State PAGEREF _Toc520742092 h 15Figure 3: Data Collected PAGEREF _Toc520742093 h 22Figure 4: Feb-2018 Statistics of Tesco PLC PAGEREF _Toc520742095 h 27Figure 5: Implication on Brexit on UK’s GDP PAGEREF _Toc520742096 h 30Figure 6: Cost PAGEREF _Toc520742097 h 32Figure 7: Survey Questionnaire PAGEREF _Toc520742098 h 46Figure 8: Brexit Votes PAGEREF _Toc520742099 h 46Figure 9: Brexit – Right or Wrong? PAGEREF _Toc520742100 h 47
Introduction BackgroundBrexit was a milestone for the world in several ways, and the decision for the UK to leave was indeed surprising. The European Union which consists of 28 member countries including the UK, is a strategic alliance between all these countries to share their economic and trade activities and provide relief to each other (Pegasus, 2016). Recently, a referendum was conducted in the UK (figure 1) where people decided to opt out of the EU. The UK joined the EU in 1973 and has been a pretty valuable member since then, so the decision to leave the EU all of a sudden struck many people around the world.
Figure SEQ Figure * ARABIC 1: Brexit Referendum
Source: CITATION NCP18 l 1033 (NC Politics, 2018)
A series debates were stirred up on a global level, with many proponents arguing that the decision would cost the EU a lot of economic and financial losses and others arguing that it will be a good change in strategic and financial ways after a small temporary shock. Other than the fact that leaving the EU was going to put a massive impact on the geopolitical stance of the UK, it was expected to set off effects on both macro and microeconomic factors of the country to a significant extent. Hence, there was no denial of the fact that Brexit is going to affect a large group of companies operating in the UK (Schoenmker, 2017, p. 122). This study is focused on analyzing the consequences of Brexit of Tesco PLC.
RationalThis study is targeted to analyze how a chain of reactions, Brexit would leave an impact (both negative and positive) on Tesco PLC. After the UK leaves the EU, the trade between the two would be like any other trade bond that the EU has with a non-EU country. It is something that could potentially have a significant impact on the trade and financial activities of UK companies (Coutler and Hancke, 2016, p. 43). Hence, this study is designed to analyze those changes and see how the changes in regulations are expected to change the way Tesco PLC would do business in the UK and outside of the UK as well. With the employee headcount of around 500,000 people, there is no doubt that the company would get affected by the decision of the UK. Hence, studying the effects of Brexit on Tesco PLC would provide insights into how the company would do choice making and risk-taking after Brexit (Statista, 2017, p.2).
What is the Research Issue?The issue at hand is to study how Brexit is affecting the business, trade and financial activities of Tesco PLC and how the event makes the retailer vulnerable in the EU market.
Why is it an Issue?Brexit was undoubtedly a massive decision for the UK including its people, government and small and larger businesses. Getting out of the EU and losing access to a lot of shared facilities, greater opportunities and trade relaxations means a lot for the UK and the effects are most certainly expected to trickle down to individual companies operating within the country (Jensen and Snaith, 2016, p. 1307). Due to the vast extent of the effects of Brexit, studying Tesco PLC which is a large retailer in the UK would provide valuable insight on how vulnerable the company would become after the decision and how its profits, revenues and business activities can get impacted.
Why is it an Issue Now?It is crucial to understand how the decision would affect a company so that logical inferences can be developed from the study to be able to deliver any possible recommendations for the company to make rational decisions in business.
What could this Research Shed Light on?The study would shed light on the impacts that Brexit would have on the business activities of Tesco PLC. It would not only analyze the current situation but would provide a pathway to foresee and deliver recommendations for the company.
Aims, Objectives and Research QuestionTo analyze the effects of Brexit on Tesco PLC.
To explore the practical implications of Brexit for Tesco and analyze its vulnerability.
To study any underlying factors that might affect Tesco PLC does the way business.
To deliver logical inferences from the study and provide recommendations for Tesco.
Research Question: How is Brexit expected to impact Tesco PLC and is there any way to mitigate the adverse effects?
Overview of the Research MethodologyThe study is primarily premised on secondary and primary types of data at the same time that is collected through multiple sources. Data is collected from a variety of documents and surveys that provide insights into how Brexit would influence Tesco PLC. After that, the information is represented in a consolidated form to reach a logical conclusion.
The organization of the ReportThe study is organized in a way that all the research is presented in a consolidated form. A detailed literature review is provided to get an insight on how other studies have talked about the influence that the UK would take from Brexit in general. Section four is designed around the findings made from the analysis while the last chapter discusses the conclusion, limitations and future study directions for further research.
2. Literature Review2.1. Introduction/OverviewThe first section is targeted to analyze what Brexit is and why the citizens of the UK decided to vote in its favor. The second section is focused towards scrutinizing the effects of Brexit on imports and see how expectations would differ from the reality. The next part puts light on the influence of Brexit on the immigration of the workforce (Zimmerman, 1995, p.53). Analyzing the effects of Brexit regarding the immigration would be helpful since it will assist in understanding how the labor market is affected by the decision (Calavita, K., 2005, p.34). In this way, the influence on the good and the labor market would be analyzed in detail. The next section is designed to observe how Brexit can put an impact on companies if they have a business within the UK, in the EU and outside of the EU. This analysis would be helpful because companies that operate in the UK but have business in the EU and outside of the EU are expected to be strongly affected by the change.
2.2. What is Brexit?
The people of Britain cast their votes in the elections held on June 23, 2016, and this was when the people of the UK were asked to decide about the bond of the country with the EU and majority of the people votes in favor of Brexit. Having to stay within the EU is an excellent economic, strategic and business opportunity for these member states since no tariffs or duties are charged on the trade goods being sold in the European Union countries CITATION Tra181 l 1033 (Transco PLC, 2018). Also, a standard taxation procedure and regulations are imposed on all the member nations. Professionals from some specific fields, including medicine, law, banking, tourism, are allowed to practice in any member country. Moreover, the member countries of EU make rules and regulations related to trade with mutual concern CITATION AMI16 l 1033 (A&M Insights, 2016). It is mentioned by CITATION Whe161 l 1033 Wheeler & Hunt (2016) that the results of the Brexit voting showed that 52% of the people are in favor of Brexit. The people of the UK wanted the country to move forward without any intervention of the laws and rules of the European Union. They wanted their economy to work without any external pressure which the immigrants and other EU countries’ members put on it. It is evident that when the sellers in a marketplace are more, the prices are decreased. With the higher competition in the market, both the good and the labor market would get affected, and with lower demand for goods, labor shortage can also be faced (Coleman, 1992, p.425). Such effects on the economy of the UK made the local people think that they should exit the EU CITATION Mac171 l 1033 (Macrory & Newbigin, 2017).
According to CITATION OEC17 l 1033 (OECD, 2017), it was evident that when the countries are in a strong bond, such as the nations in the EU, all the nations were benefitted, but the people of UK wanted Brexit because their economy experienced pressure. The UK, being the center of economic activities and global businesses, was an attractive place for the other member nations of EU. Therefore, the pressure of Brexit is more intense for the UK than any other EU country. As far as TESCO Plc. is concerned, it operates more in the UK, but some of it is outside the UK as well. Hence, Brexit will possibly make the company lose the rights to source for employees freely within neighboring EU countries CITATION Ola18 l 1033 (Olawuyi, 2018)2.3. Goods Imported and Expectations
Source: (Coutler & Hancke, 2016, p. 40)
Cummings & Zahra (2016, p. 220) mentioned that companies need to abide by the rules of the EU to export the goods there. For instance, the EU has some regulations related to animal rights and cruelty-free products et cetera. All the EU countries ensure to fulfill the rules before importing from outside the EU. Also, the EU countries are bound to share their export/import details with other member countries when the limit of the trade increases than a certain level.
This ceiling is something that the member states decided on a broader consensus when the financial year starts, but when there is an exchange of services, goods that are transferred from one part to another are not mentioned CITATION Hug17 l 1033 (Hughs, 2017).
Figure SEQ Figure * ARABIC 2: EU External Trade in Service by State
Source: CITATION Cob18 l 1033 (Cobcoe, 2018).
Figure 2 shows the contribution of EU states in trade of the region. After the Brexit, rules are change and EU countries are not free to export their commodities to the UK. On the other hand, UK’s products will also become expensive for the nations of EU because the transportation cost will be added to it. Before Brexit, it was easier for the company to install their manufacturing plant in EU countries to reduce the transportation cost, which is not possible after Bexit. The reason is that specific rules and regulations will make it challenging for TESCO PLC CITATION Mou18 l 1033 (Mountfield, 2018). To survive in the EU countries, which lesser support because the company will be competing with other companies which have support from EU because of being an EU based company (Dhingra, Ottaviano, & Sampson, 2017, p. 40). TESCO PLC. expects to reduce its export market because of cautious and costly approach to the EU markets, or it is also possible that the company needs to lay off some significant portion of its labor force because some of it will move to the EU again due to the secondary benefits now. While others will be required to lay off because the expenditures of the company will increase or the profits will decrease because the free access to the EU market is not possible now CITATION Liv18 l 1033 (Livingstone, 2018).
2.4. Immigration on the Workforce
Source: (Duff, 2016, p. 8)
It is easier for the member states of the EU to move across the region for work and other purposes and that is something the UK might lose after Brexit. It puts pressure on the labor market, as the supply of the employees increases and the demand decreases. It puts downward pressure on the labor market, which reduces their wages. Of course, when the competition is high, employees are willing to render their services even at a lower rate than the one they would demand in reasonable condition (Duff, 2016, p. 17). The people of the EU who are living in another member country of the EU get limited access to the welfare system of the country they are living in, but the duration of their stay should be around five years. The cooperation of all the member nations of the EU will help them in getting access to more resources and labor force. It will also expedite the competition because the markets are free and can reach beyond the boundaries of a country to the other EU member countries.
The easy access of the EU countries to each other’s’ markets will also benefit all the nations in a way that competition is increased and people are more keen to raise their capabilities to survive in the fierce competition. Also, it will encourage the nation to work to their fullest potential and employ their resources to the maximum point. Besides, free and easy travel of people in the EU is the most critical factor in the mutual relationship because it is the key to make a bilateral trade, services, and businesses possible.
2.5. Having Branches outside the EU
Source: CITATION Mac171 l 1033 (Macrory & Newbigin, 2017)In the case of Brexit, King (2017, p. 152) mentioned that the organization would face a different scenario and challenges. First of all, the rules and regulation of the company working outside the UK will apply on it from the UK side. The company would have to go through some requirements and might only be able to fall under a specific quote to work in the region which can be a daunting task of its own. The challenges will also be from the outside world, which is flooded with competitors and each country trying to protect their industries. The company should put their utmost potential to deal with the challenges it will face in the EU countries. It will try to cut the cost to manage the burden of the taxes and shipping duties. It will cooperate and integrate with the companies which have easy access and flexibility to operate in the EU markets CITATION Cob18 l 1033 (Cobcoe, 2018). Moreover, if an organization works in the EU but is initially from any other country outside the EU, its credibility and validity are decreased because the duration of the delivery of the products and services is more extended than EU companies’ delivery duration. Moreover, the people of the EU prefer the products from the EU nations because of the credibility and the bounds a company needs to follow to get access to the market. Therefore, TESCO PLC. will probably face challenges because the people’s perception towards the products will change. The reason is that the market surveys reveal the consumers’ behavior that they trust local and EU-based companies more than the outside manufacturers CITATION PWC162 l 1033 (PWC, 2016).
2.6. ConclusionBrexit is a term used for the process in which the people of the UK voted to show their opinion about either staying or leaving the European Union. 52% of people voted in favor of Brexit; It means they were of the opinion that the UK should not remain a part of the European Union. This decision will have a considerable impact on the fate of the economy of the UK as well as on the environment of the TESCO PLC. Being a part of the EU, the people can move freely in the EU countries. Also, the commodities are the duty and tariff-free. Individual professionals, such as the people related to medical, law, et cetera are allowed to work in the other EU nations. Also, if they are living in any other EU country for more than five years, they are given access to medical insurance et cetera to a certain extent just like the natives. Also, the transportation cost of operating in the EU countries will increase now because the tariffs will make the imports costly.
Methodology Brief Introduction of the ChapterFor this study, the methodological approach selected is of a qualitative nature with secondary sources of information. The data is collected from a variety of sources including online libraries, journal articles, websites and many more (Guttmann, 1944, p.142). The benefit of qualitative evidence is that this approach allows the researcher to look into the factors that cannot be quantified but yet have a strong influence on the results of the study (Campbell, 2014, p.3). Anything that the quantitative data cannot cover is enveloped in qualitative one which makes the reviews more authentic and realistic (Ramakrishnan, 2016, p. 555). This approach was chosen so that it allows the case study more accessible and more reliable about Tesco PLC.
Themes to be examined – Imports, Workforce Immigration, and Business Expansion
This methodology seeks to examine the research based on the consequence of the Brexit move on the Tesco operations which can be classified based on the three broad themes. The first theme examines the effects on the importation of goods, the second theme analyzes the effects on the immigration of workers, and the final theme discusses the effects on opening retail branches in EU nations. It is important to note that data was collected depending on three major topics of the research (Jackson, Drummond and Camara, 2007). The first theme examined the long-term implications of Brexit on Tesco Plc – and identified that this move affected the Tesco imports from EU including food supplies, consumer goods, and other commodities. The second theme examined the effects of Brexit on Tesco regarding the immigration of the workforce.
It is important to note that the Brexit move affected the immigration of people, mostly workers who are based in Britain and who work in diverse markets in the EU. Hence, such a move affected the migration of the workforce, and in the process affected Tesco Plc stakeholders who are not Britons. The third theme that guided the data collection was the effect of the Brexit move on the Tesco’s international expansion strategies (Hox and Boejie, 2005, p.25). Most international brands like Tesco Plc establish branches outside their home markets and endorse franchising to ease the supply and distribution of consumer products. Hence, the Brexit move impaired the establishment of chains and stores in European markets and consequently impaired Tesco’s expansion efforts.
Research Approach – Qualitative Approach Case StudyA case study means that the analysis is limited to a specific person, place, object or organization. It is a highly commonly used research approach in many fields and the reason it is widely used it the theoretical and practical benefits it provides to the analysis itself. For instance, general studies might be generalizable on a larger scale, but they sometimes do not well regarding specifying what is happening in a sector or capacity. In those instances, a case study is introduced because it narrows down the analysis and helps reduce the generalizability of the research (Priest, 2017, p. 30)
For this analysis, the research approach of a case study is selected because of a variety of benefits it provides. For instance, it is a helpful way of specifying the analysis when the data available is way too complicated to reach a decision. It also equips the researcher with the tools he needs to look into a real-life scenario and see what is happening. (Cooper, Schindler, and Sun, 2006, p.32). With more relevant and useful information, the researcher cannot only put light on what is happening in a specific setting, but it also provides them with an opportunity to try to translate that data into a different situation. In this way, the journey from specific to general is covered.
Another research approach used for the analysis is qualitative data collection. This approach is helpful because it covers a variety of fields including political, economic, social and strategic scenarios and delivers an extensive overview (Morse, 2005, p.13). However, the limitation is that it can be a lengthy and hectic process for the research since it might face difficulties in gathering all that information that from unbiased sources. Additionally, in some instances, measuring this data can be a challenge with a chance of misinterpretation if enough information is not available (Glaser & Strauss, 2017, p. 120). Case studies are specific and to the point examples which happen in a particular setting within a particular time. It is, therefore, a limitation that in some instances, the scenario cannot be repeated which makes the analysis only relevant at a time and redundant in all other situations. In some cases, the approach might not be best because research studies are designed towards analyzing multiple scenarios at a time, and one single case study can provide a very naïve approach to the topic (Myers, 1997, p.24). Other than that, case studies are generally based on some unique information or even observations that raises the possibility of the analysis being biased because the views can be misrepresented (Forrester, 2018, p. 50).
Limitations of the Qualitative Research [Case Study]
The main weakness of the qualitative research is that it happens to collect a very narrow and superficial form of data. As such, the results generated in qualitative research are not specific to the given research questions. Instead, they represent general findings and broad outcomes that apply to multi-disciplinary areas or topics. Hence, the qualitative research is limited because it offers more comprehensive results and thus lacks a unique form of specificity much required in research works (Opdenakker, 2006).
It happens to be difficult for one to find the appropriate case study which will suit the agenda of all topics being researched. Case studies happen to contain the observations and opinions of one person (Gerring, 2004, p.348). As such, they have a bias which comes about through the point of view depicted in one manner from the person (Zainal, 2007, 6). Being able to manage time in any form of a training program is a crucial aspect. As such, case studies tend to consume much time when compared to other approaches or instruments of research.
Considering that there exists no one right answer during a case study, the issue arises when it is time to validate the solutions provided. Case study as a research approach is seen to be best suited for situations that are advanced (Gerring, 2004, p.354). With this in mind, therefore, the participants need to be mature so as they can participate in the cases which they will be required to provide reasonable and helpful information that will be useful in being able to come up with solutions.
Looking at the various advantages and disadvantages of a case study approach, we happen to see that the benefits outweigh the problems to a great extent. This is because a case study tends to provide experiential learning and also it acts as a great resource and tool that stimulates learning and boosts research processes (Zainal, 2007, 1-6).
For this analysis, the research method used is primary and secondary data collection, primary data is when the data is gathered from primary sources, and no one else has collected that information before (Sapsford and Jupp, 2006, p.42). On the contrary, secondary data is what has already been assembled by someone else previously, and another researcher uses merely that information for his analysis (Lewis, 2015, p. 38). Primary data is structured around primary document collection about Tesco and its trade changes after Brexit while for secondary data, various sources are used to see what other researchers have put out and how the information can be utilized for further analysis. Secondary data collection strategies are helpful because they provide the researcher with a way to see what has already been done and then design his research around the prevalent topics (Williams, 2007, p.67). In various cases, secondary information collected from all these sources can direct the analysis in a different direction which opens up new avenues of research evolution. Another benefit of this method is that it is cheaper than primary data collection and where primary data is gathered through multiple sources at a high cost, all secondary information might be available on one single platform (Berger, 2013, p. 29)
Figure SEQ Figure * ARABIC 3: Data CollectedName of the document Brief description Access from
Brexit and International Environmental Law Brexit: The International Legal Implications
The United Kingdom’s International Environmental Obligations after Brexit www.cigionline.org
Advancing Environmental Justice in the Post-Brexit United Kingdom
Brexit and Environmental Justice Challenges
Advancing Environmental Justice in the United Kingdom Post-Brexit: Opportunities www.cigionline.org
Surveys conducted Two groups of five individuals were chosen to answer some fundamental questions about their perspective on Tesco PLC. All individuals were in management roles at Tesco. Personal interviews
Survey data gathered Surveys conducted about Brexit were included from multiple sources about Brexit and supply chain as well. WhatuThink.org
Annual Report of Tesco PLC Secondary information was gathered to analyze any financial trend in the company. https://www.tescoplc.com
Books on Tesco Books were picked on the topic of Brexit and how it is affecting the business world Google scholar, Emerald publishing, and Jstore
Journal articles Journal articles on international trade, law, political, social policy, Brexit, EU and the UK
Cutting, D.R., Karger, D.R., Pedersen, J.O. and Tukey, J.W., 2017.
Dougan, M., 2008. Treaty of Lisbon 2007: Winning Minds, Not Hearts,
Goodwin, M.J., and Heath, O., 2016
Books Books about Brexit, international trade, EU and the UK
Management Services, Nature, Independent Report, Qualitative Research, Regional Policy, The Political Quarterly, Brexit- the Voices of European Business, British Journal of Management, Journal of Social Policy, Judicial Review, Journal of European Public Policy, European Policy Center, LSE Brexit, Geoforum, Brexit and International Trade, Health Promotion Practice, New Political Economy, Brexit and International Environmental Law, British Politics and Policy Blog, Research World, The Economics of UK-EU Relationship, Qualitative Research, Research World Armstrong, K.A., Bulmer, S. and Bulmer, S.J., 1998, Baxter, P. and Jack, S., 2008. Qualitative case study methodology: Study design and implementation for novice researchers.
Craig, P.P., 2016. Brexit: A drama in six acts.
Cumming, D.J., and Zahra, S.A., 2016.
Data Collection and AnalysisThe data used for the study was gathered from multiple sources including online articles, books, journal articles, websites and other databases on online sources. Collecting this data from secondary sources helped answer crucial questions about the topic of Tesco PLC and how it is getting affected by Brexit in short and a long-term basis. Since the data included is something that has already been presented by other researchers, it would provide perspective on how other analysts have come up with an answer about the question (Pollack, 2015, p. 2). All the gathered information was structured and organized in the manner of its relevance to see how the data answer the underlying issues for the study.
The data analysis process helped gather any relevant information about the topic and narrow down the analysis to studies that work towards answering the research questions and achieve the set objectives (Silverman, 2016, p. 110). Three themes including goods imported and expectations, immigration on the workforce, having branches outside the EU have been used. Theme one is about how imports and customers’ expectations about it would get affected by Brexit since customer experience and supply to them is strongly influenced by significant changes like this. Secondly, the labor market would be equally affected since some people might decide to leave the EU, so the second theme covers the immigration of the labor force (Nickell, 1997, p.63). Brexit would affect the connection that the UK has with the EU which would put an impact on companies if they operate with the EU. To analyze that, the third theme is designed.
Definition of Themes
Goods Imports and Expectations
Goods imports refer to products that are sent from one country [country of export] to another [country of import] to fulfill particular consumer needs. It is important to note that data was collected depending on three major topics of the research. The first theme examined the long-term implications of Brexit on Tesco Plc – and identified that this move affected the Tesco imports from EU including food supplies, consumer goods, and other commodities.
Workforce immigration is defined as the manner in which employees and workers move from one nation to the other in search of employment or job placement. The second theme examined the effects of Brexit on Tesco regarding the immigration of the workforce. It is important to note that the Brexit move affected the immigration of people, mostly workers who are based in Britain and who work in diverse markets in the EU. Hence, such a move affected the migration of the workforce, and in the process affected Tesco Plc stakeholders who are not Britons (Pegasus Software, 2016, p.42).
Opening Branches in Outside Markets
Opening branches in outside markets are defined as a strategic process of setting up business establishments regarding retail chains in other nations to push the product or service in another country. The third theme that guided the data collection was the effect of the Brexit move on the Tesco’s international expansion strategies. Most international brands like Tesco Plc establish branches outside their home markets and endorse franchising to ease the supply and distribution of consumer products. Hence, the Brexit move impaired the establishment of chains and stores in European markets and consequently impaired Tesco’s expansion efforts.
EthicsMultiple requirements need to be met while doing the analysis. Firstly, it was ensured that the data was presented it its pure form and there was no manipulation involved. The researcher is supposed to ensure fair and precise delivery of the data and make sure that there is no manipulation or misinterpretation (Haan, Wouter, and Ellison, 2016, p. 30). Honesty and openness about the information made available in the research is a key to deliver authentic work which is beneficial to the broader society (Gregory, 2003, p.15). Another ethical aspect that needs to be met for any study is accuracy and relevance (Smith, 2015, p. 188). For this analysis, the idea of significance meant that any secondary data that addresses the effects of Brexit on Tesco PLC is discussed or studies that cover similar topics and provide more perspective are added into the analysis. Ethics ensures that research uses integrity as part of both data collection and data analysis (Aguinis and Henle, 2002, p.42).
Reliability and ValidityReliability in essence is used to refer to the extent to which the analysis of the data collected can be relied on to arrive at accurate conclusions. This is a statistical term used to denote the consistency with which a measure can be arrived at. That can be likened to a situation where a third party with the same set of data will arrive at the same factual conclusions. Validity refers to situations that can be correctly deemed to be well-founded and at the same time corresponding accurately with real-world situations. Denoting the extent, a concept under investigation will correspond to simulations that can be applied in reality based on probability.
In this report, reliability and validity can be taken as the fact that any third-party researcher analyzing the effects of Brexit will come up with the same effects as we have in the report. This analysis is highly in tandem with the real-time problems affecting Tesco plc as a result of Brexit, and the recommendations would certainly mitigate these effects. The data collected for this study was derived from primary sources related with Tesco plc and compared with data collected on similar institutions that have been correctly cited and linked with the present analysis.
There is a specific procedure set in place, including meetings with my supervisor who verifies the authenticity of the data collected, and the methods used to gather the data and the rationale behind the conclusions. This helps readers who interact with the report to be able to understand the reasoning behind any conclusion and how it was arrived at from the data collected. Including allowing readers to differentiate between data acquired from Tesco plc and data collected from various other sources both primary and secondary. Aside from effort specifically directed towards verifying the authenticity of the data collected and confirming it with real-time results. This ensures that the conclusions arrived at will be in tandem with the situation on the ground as a result of the Brexit move not only to Tesco plc but on similar organizations. Ultimately allowing the report to be able to generate recommendations that can be acted upon to significantly minimize the effects. To further bolster the integrity of the report is the citation of works and sources referred to during the dissertation process while ensuring the conclusions are as close to reality as possible.
ConclusionAs the purpose of the study was to draw attention towards the effects that Brexit would have on Tesco PLC, a sound research methodology was designed to collect all the relevant information which provides enough insight into the topic. Secondary data analysis was chosen as the leading research method because it is convenient and provides insights into how other researchers have looked at the subject. The approach of the case study was selected because it does not only make the review very specific to a particular topic but makes it easier to understand a particular situation which is more than getting generalized data. Data was collected from multiple sources and used by its relevance, authenticity, importance and of the study. During the process, many ethical aspects needed to be analyzed including the accuracy of the data, right and fair representation.
FINDINGS INTRODUCTIONThis section would deliver a detailed analysis of the data collected and see how the data represents the current situation and answers the research question set at the beginning of the dissertation. As it was mentioned above, the research approach of this dissertation is designed around a case study of Tesco PLC. Three major themes are identified in this research on the consequence of the Brexit vote on the Tesco PLC. First, the Brexit move affected the importation of products from Britain to EU markets and vice versa. It also affected consumer perception and expectations because of expensive trading costs incurred by Britain as a non-EU market. The second theme examines the effects on workforce immigration. Tesco PLC employees were affected by Britain’s decision to quit the EU. The British pullout meant that non-Briton workers employed by Tesco would have to source trading licenses. The Brexit move hence created an unfavorable working environment for foreigners; mainly the nationals of EU nations. The third theme this research identifies is difficulties with opening branches in foreign markets (Broadbent and Policy, 2017, p.23). The Brexit move suppressed the ability of big retail chains such as Tesco Plc to open branches in EU markets. The Brexit vote constrained business within British markets and hence minimizing global expansion due to the restriction that was earlier afforded by the EU framework (Wilkinson and Midgely, 2017, p.15).
Theme 1 – Goods Imports and ExpectationsDefinition of the Theme
The Brexit move had lasting effects on the importation of goods from EU markets. As a global retail chain, Tesco relies on the importation of consumer supplies from manufacturers and distributors located in EU markets. This is as a result of new tariffs imposed on goods that were previously tax-free as a result of the closure of borders. (Wright, 2016, p.32).
Reporting and Analyzing the Theme
It is essential to establish that shortly before Brexit, Tesco Plc enjoyed numerous trade opportunities extended by the EU agreements. As a result, Britain and Tesco Plc enjoyed free importation and exportation policies and hence cut costs and made savings accrued from free trade policies. Unfortunately, the Brexit move meant that Tesco Plc, being part of the EU, would no longer enjoy the free trade agreements and trade policies experienced by being part of the European Union (Beier, 1990, p.139).
Data collected shows the contribution of EU states during regional trade.(figure 2 appendix) Before Brexit, it was easier for the company to install their manufacturing plant in EU countries to reduce the transportation costs, which is not possible after Brexit. The reason is that specific rules and regulations will make it significantly more challenging for TESCO PLC CITATION Mou18 l 1033 (Mountfield, 2018). The survey conducted internally within Tesco plc enabled several conclusions to be made. First that a majority of the products sold in Tesco stores are sourced cheaply from outside Britain, the new tariffs removed this advantage. This increased operational costs and expenses thereby reducing profit margins by a significant percentage. Hence, the Tesco Plc suffered from lower exports to EU consumers, its sales shrink, and the Tesco market share was severely affected.
Accordingly, this research establishes that Tesco suffered significant blows in the Brexit move, and this blow was major because the Brexit move changed the flow of products [and services] from Tesco to European consumers located in the EU markets (Yan et al. 2016, p.13). Aside from the tax incentives offered by the European Union to encourage large corporations to promote regional trade and local industries. The Brexit move has forced Tesco to explore local alternatives to fill the deficit that has been necessitated by the new tariffs.
Theme 2: Problems with Workforce Migration
Definition of the Theme
Brexit detached Britain from the European Union and the process affected ease of mobility by inhibiting the free movement of workers. Tesco PLC found it had to restructure its workforce to accommodate EU nations courtesy of the Brexit vote (Calavita, 2005, p.44). As a retail chain, its ability to penetrate new markets and to bridge consumer needs depends primarily on a competent, multi-ethnic, and trained workforce (Meunier, 2005, p.43).
Report and Analyzing the Theme
This theme sought to examine the impact of Brexit on the Immigration of the Workforce. It is essential to establish that Tesco enjoyed a relatively multi-ethnic workforce. However, Brexit meant that Britain could no longer enjoy the free movement and migration of labor as espoused in various laws in the EU framework (Sayer, 2017, p.96).
Tesco changed its hiring policies after Brexit to accommodate the changes in labor transfer. With skilled labor deciding to flee from the country and foreign companies also moving out, it was observed that the economy would suffer. The company has about 500,000 labor force in the entire business with a lot of employees coming from the EU. This will decrease because of Brexit, hiring employees from other countries especially for permanent positions will become complicated for the company, and the organization will require a substantial reason to hire somebody from outside the country. While some of them come for a short period on temporary jobs, many of them work on a permanent basis as skilled labor which can be a challenge after Brexit. The rules of immigration after Brexit are changed and have not remained as flexible and easy for EU locals as they were before Brexit CITATION Leh18 l 1033 (Lehmann & Zetzsche, 2018).
Brexit affected the immigration of workers to and from Britain and EU markets. For instance, non-Briton workers employed by Tesco PLC retail chains would be required to obtain work permits. The fact that these workers would not be covered by the EU regulations will make them vulnerable to the British labor market (Siebert, 1997, p. 41). A costly and complicated workforce restructuring was required to address the rapid immigration of the workforce during the Brexit vote.
Theme 3: The Challenge of Opening Branches in EU Markets
Definition of the Theme
The success of most global retail outlets is pinned on the ability to establish branches beyond their geographies. Walmart and Amazon have hundreds of retail chains globally, and these chains are supported by a rich and a dynamic consumer culture inherent in this particular retail outlet. Similarly, Tesco PLC relies on international expansion. Unfortunately, the Brexit vote acted as a dim light in its global expansion strategy. Hence, the Brexit move was a negative influence on Tesco’s global expansion. It impaired its ability to establish stores in EU markets and the process affected its overall growth.
Reporting and Analyzing the Theme
The third theme sought to determine the effects of Brexit move on opening branches in other nations within the EU. Tesco as among the largest retail outlet in Britain sees international expansion and growth efforts as key strategies in its domain. Globalization has required that companies open branches and exploit global markets (Coyle, 2016, p.40). This rapid shift means that companies must be prepared to plan with foreign players for easy market penetration. The Brexit move impaired the international market entry to Britain and required that its companies establish prior legal conditions before setting branches and opening companies in nations within the EU.
This research supports that the Brexit move impaired Tesco expansion strategies in three significant ways. First, it affected the ability to make partnerships with EU businesses, organizations, and corporations. It also affected the cost and the resources required by a British company to set branches or to open business stores in EU markets. Also, finally, such a move impaired the franchising process whereby a Britain company can use the EU supplier or renowned distributor to handle supplies. Hence, this analysis reveals that Tesco suffered a significant blow in international business exports. The privileges earlier enjoyed to set up a business outside Britain, as afforded in the EU agreement and economic framework, would no longer apply to British companies. Hence, this analysis establishes that the Brexit move led to critical challenges on international expansion, it suppressed the establishment of franchises and increased the cost associated with the international business establishment.
DiscussionDiscussion of the Objectives
Analyzing the effects of Brexit on Tesco PLC
The Brexit Move affected Tesco Plc in three fundamental ways. First, it affected the importation of goods and supplies from EU markets; including EU producers, manufacturers, and suppliers. It became increasingly expensive for Tesco PLC retail outlets located in the UK to source for foreign supplies which were much fundamental in their sales efforts. Secondly, the Brexit move affected workforce immigration. The EU workers serving in Britain were exposed to a highly regulative work environment – courtesy of the fact that Britain did not enjoy the rights and privileges set forth by the EU Agreement. Hence, it became costly and laborious for Tesco PLC retail chains to outsource workers from EU countries. Finally, the Brexit move affected Tesco’s ability to establish branches in EU nations. Formerly, Tesco enjoyed the free trade regulations that existed in all EU nations. The law afforded EU different nations and companies the ability to expand beyond their geographies. Also, this analysis supports that the Brexit move impaired Tesco expansion efforts in EU countries.
Exploring the Practical Implications of Brexit for Tesco and Analyzing Its Vulnerability
Tesco was highly vulnerable to the unfavorable market environment created after Britain decided to pull out of the EU. Its workforce was exposed to a highly strict and harsh regulatory environment that required workers to obtain work licenses and permits; some of which were resource and time-consuming. The Brexit move also suppressed Britain’s importation efforts. It was also hard to do business in EU nations because of excessive tax and duty imposed as being non-EU affected the pricing and exposed Tesco to local competition in various EU markets.
Studying Any Underlying Factors That Might Affect the Way Business Is Done By Tesco PLC
Factors with employee sourcing, distribution, and market creation were profoundly affected by the Brexit. The Tesco PLC retail chain failed to enjoy the benefits established by the EU Agreement in three significant ways; workforce immigration, product importation, and branch opening. Other underlying factors that may affect the way business was done include; pricing strategies, foreign market penetration with a narrow focus on Asian and African markets.
Emerging Issues or CritiqueThe purpose was not only to provide all the details found in the primary and secondary resources but also deduct from the studies and see why and how the changes might be a milestone both in a good and a wrong way. It has been observed that people are anxious about Brexit taking place in the UK as it would affect the local and international business in a much-defined way. The effects of Brexit would be both on the good, and the labor market and these consequences would be equally intense in short and a long-term. Two surveys conducted by CITATION Wha181 l 1033 (WhatuThink, 2018) showed the way the referendum trend has changed over the course of two years from 2016-2018. During the interviews, the central question was around if they think Brexit was the right decision and the other one asked if they had to make the decision again, what they would choose. Mixed responses were given in the surveys, and while some think it was the right decision, participants also feel that it was a wrong decision and need to be reverted. Figure 9 and 10 show the results of surveys where participants mentioned whether they believe the Brexit decision was right or wrong and if they have to choose again, would they vote for Brexit.
Brexit will adversely affect the value of pound sterling because the currency of the UK would become cheaper for others and less valued because of the risk of uncertainty. It can strongly influence the business activities across the country to a full extent as well. Something worth mentioning here is that this idea of effects of Brexit on pound sterling might be entirely overstated in several ways. Since economies are based on market expectations, the concept of Brexit itself brought a sense of risk and uncertainty in the market which results in a quick decline in sterling. However, in reality, pound sterling would be more independent and would have the ability to operate on its own which can be strengthening for it in a long-term.
Another aspect that needs to be considered at this point is the fact that although some companies including Tesco would lose some of their business, especially the ties they have with EU business partners, it is more promising for the UK on practical grounds than harmful. After the concept of globalization has seen its most excellent glory, economies around the world are now moving towards the idea of de-globalization or localization which is focused mainly towards connecting the local economies rather than developing connections with the outer world. Under the influence of globalization, local companies in many countries have suffered a lot which is something that many economies are trying to tackle these days.
5. Conclusion5.1. Overview of the StudyThe analysis conducted in the dissertation was able to provide the details and pointers to reach a clear and logical conclusion about the consequences that Brexit would have on the business activities of Tesco PLC. Tesco is a massive retailer in the UK that also operates and delivers outside of the UK. With that into account, a decision that was initiated to drop the UK out of the EU is something that can have substantial implications for the company. It is widely argued that if not anything else, Brexit would create a sense of uncertainty in the UK and also a feeling of a higher risk throughout the nation that would force people to flee. The study was able to provide answers to the research question that Tesco is expected to get affected by Brexit. Additionally, profound insights on the research objectives were also gathered which put light on the general effects of Brexit, underlying results and any other implications that can be used to predict the future of Tesco and provide recommendations.
In this case, active policy-making requests from Tesco if it wants to survive in the economy and maintain a right amount of customers while having to face harsh market conditions. One thing that Tesco can do is to focus on innovation and making sure that its products are diversified in the market compared to other competitors. Some customers in the market might be regular buyers of foreign companies, and after Brexit, it is possible that these companies are not able to operate in the UK which can provide a window for the local UK companies to attract these potential buyers. The situation makes Tesco vulnerable to the change, and it might be in danger for a short period at least. However, the company does not have a bad future, but the company needs to implement mindful policies to save itself from the blow.
5.2. Limitation of the StudyThe study was a mixed method that incorporated primary and secondary sources of data to conduct an excellent analysis and reach a conclusion, but there are still some limitations of the study that should be given importance here. It is always crucial to suggest the boundaries of an investigation as it makes it easier to define a clear scope of the review, figure out where the research would apply and where the results would not be that valid. It is a clear way for the researcher and other analysts as well to draw a fine line around the study to see how far these results go. While drawing a picture of the generalizability of the analysis, limitations allow the researcher as a guideline for further investigation while work as a disclaimer in many instances to save the study from external backlash in the academic world. For this study, the time frame was insufficient, and everything was done within a specific period. The study was cross-sectional, and no iterations of the sample or the data were presented or used over different time periods to identify any changes in the patterns, behaviors, and expectations. Another factor that acts as a limitation for the analysis is that the scope is only limited to the UK. While Brexit is focusing on the UK out of the EU, it does not mean that the UK will get affected by the changes as other neighboring countries can get impacted to a vast extent. It is something that the study did not cover, and the case was only limited to the UK.
5.3. Future ResearchFuture research is a step in research that provides further direction for the study in case the researcher or anyone is planning to replicate the analysis and see where else it can go. It is a very crucial step of the review as it provides the analysts with a way to identify the research gap that is still available for other researchers to work on in the future. It can be used as a direction and inspiration to either modify the current study or develop something from scratch and expand the research pool in a given subject or area. For future research, one thing that can be done is to expand the country coverage from the UK to other countries in the EU.
Another option here is to incorporate a time series analysis and explore how the impact of Brexit would change over time. One study is conducted at the beginning when people are just projecting ideas about Brexit and its consequences. Further research can be performed on how the impact of Brexit has been to be able to compare the expectations with the reality. Later on, segregation for the type of companies to get affected by Brexit can also be provided by their size and type of business.
The Future of Tesco PLC and Appropriate Recommendations
The research identifies that the Brexit move has affected Tesco PLC in three significant ways. First, the effects on workforce immigration and mobility have affected Tesco foreign employees and prospective customers and stakeholders. Also, the Brexit move has impaired the ability to establish branches and franchises in international marketplaces. Finally, the Brexit move continues to affect international operations including product importations, supplies, and distributions. This analysis supports that these three broad effects of Brexit on Tesco can be tackled through strategic interventions and highly insightful business strategies.
5.4. RecommendationsBased on the study conducted and the survey conducted with the management people at Tesco (see figure 8 in the appendix), many things can be suggested to Tesco for it to keep its current customer base and make sure that its business does not get affected by Brexit. Tesco should focus more on innovation and novelty in its varied product lines.
Recommendation 1: Maximize Local Markets and Tap on Markets outside EU
Tesco should establish strong relations with UK suppliers including; United Kingdom agriculturalists, farmlands, and farming suppliers. This relationship will ensure that Tesco cuts on its local supply costs and channels this budget to other suppressed areas of business. Further, there is a need to strengthen relationships with suppliers and distributors located outside the EU markets. The retail giant should target international markets in Asia, the Americas, and Africa in a bid to take advantage of the ever-changing integration of markets caused by globalization (Frieden, 1996, p.204).
Recommendation 2: Low-Cost and Cost-Centric Strategy
The cost-centric strategy enables retailers to penetrate in expensive markets. Also, the cost-centric approach makes it possible for enterprises to target cost-sensitive consumers. The Brexit move has impaired the image of Tesco as a global retail giant, and hence, the cost-centric approach offers a classic alternative and recommendation for Tesco to regain its market position and stabilize its brand loyalty. Offering competitive costs on products and supplies will enable Tesco to earn the trust and reputation of consumers and consecutively bolster its market position.
Recommendation 3: Partnerships and Strategic Alliances
The resurface strategy utilized by leading companies is partnerships and strategic alliances. Strategic alliances refer to business relations established by two or more companies that enable the companies to cut cost, enhance their market outlook and survive significant economic downturns. The Brexit move has potentially affected previous relationships between Tesco and its shareholders. The development of strategic alliances will enable Tesco to tap into both horizontal and vertical integration in efforts to cut supply and distribution costs. Further, this integration will streamline processes and would allow Tesco to source products and supplies at relatively low cost. Such an initiative will ultimately guarantee and ensure that Tesco remains a market leader in the global retail sector despite major political misgivings like the Brexit move.
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AppendixFigure 7: Survey QuestionnaireAge: Role at Tesco PLC:
Do you think the Brexit would affect Tesco PLC?
How do you think that effect would take place?
Do you think any underlying factors would influence the change?
What do you think can help the company with the transition?
How do you think it would survive the blow of Brexit?
Do you think the company would be able to come back from the split?
Is there a possibility that the effects of Brexit are just temporary and things would simmer down eventually?
What do you think about the overall impression of Brexit in the UK?
Mostly, the effects are expected to be negative.
Yes, the decline in the power of pound, legal restrictions, strategic changes, labor market constraints and higher prices might affect the situation as well.
Innovation and being patient to see where the situation ends up.
The company and the UK, in general, are most likely to survive the blow.
It might take some time, but the company would bounce back.
Most of the participants agreed on the fact that the change is temporary and the thing would be reasonable in a while. However, three participants had a consensus that thought would never bounce back and the UK would have a vast abyss in its economy after leaving the EU.
Overall, there is no denying that the UK would be strongly affected by Brexit. Most of these effects would be negative, but things would come back to normal if proper strategies are applied.
Figure 8: Brexit Votes
Source: CITATION Wha18 l 1033 (WhatuThink, 2018)
Figure 9: Brexit – Right or Wrong?
Source: CITATION Wha181 l 1033 (WhatuThink, 2018)
This study is targeted to analyze how a chain of reactions would have Brexit put an impact (both negative and positive) on Tesco PLC. After the UK leaves the EU, the trade between the two would be like any other trade bond that the EU has with a non-EU country. It is something that can put a significant impact on the trade and financial activities of UK companies. Hence, this study is designed to analyze those changes and see how the changes in regulations are expected to change the way Tesco PLC would do business in the UK and outside of the UK as well. A situation I discussed at length with my supervisor during our weekly meetings in order to correctly structure how to present my dissertation for scrutiny. The issue we ultimately arrived at was to study how Brexit is affecting the business, trade and financial activities of Tesco PLC and how the event makes the retailer vulnerable in the EU market and ultimately what steps can be taken to minimize this effect. The meetings I had with my supervisor were of utmost importance as I was able to gain insight into the topic as can be seen through the notes I took recording what transpired during the meetings. Not only did this fulfill the requirements set by her but was ultimately the backbone of my project aside from analyzing the data collected and arriving at the conclusions. For this analysis, the research approach of a case study is selected because of a variety of benefits it provides. For instance, it is a helpful way of specifying the analysis when the data available is way too complicated to reach a decision. It also equips the researcher with the tools he needs to look into a real-life scenario and see what is happening (Cooper, Schindler, and Sun,
With more relevant and useful information, the researcher cannot only put light on what is happening in a specific setting, but it also provides them with an opportunity to try to translate that data into a different situation. In this way, the journey from specific to general is covered.
The main weakness of the qualitative research is that it happens to collect a very narrow and superficial form of data. As such, the results generated in qualitative research are not specific to the given research questions. Instead, they represent general findings and broad outcomes that apply to multi-disciplinary areas or topics. Hence, the qualitative research is limited because it offers more comprehensive results and thus lacks a unique form of specificity much required in research works. For this study, the time frame was insufficient, and everything was done within a specific period. The study was cross-sectional, and no iterations of the sample or the data were presented or used over different time periods to identify any changes in the patterns, behaviors, and expectations.
Another factor that acts as a limitation for the analysis is that the scope is only limited to the UK. While Brexit is focusing on the UK out of the EU, it does not mean that the UK is the only country that would get affected by the changes as other neighboring countries can get impacted to a vast extent. It is something that the study did not cover, and the case was only limited to the UK. However, this does not dampen the numerous successes I encountered while conducting the research on the project. Balancing my time between different modules proved to be quite the challenge however with time I got adept at it and was able to improve on my organizational skills.
This dissertation had empowered me with a vast array of additional skills that I did not have before I embarked on the study. This dissertation has ultimately been an avenue for greater self-reflection and personal development. Aside from the new body of knowledge, I was able to gather on emerging topics arising as a result of Brexit, and the workings of organizations such as Tesco plc. I was also able to greatly improve communication skills as some aspects of the research required interaction with people in different fields. Not to mention project management skills garnered from my interaction with the supervisor and in drafting a timeline for the project with greater emphasis placed on prioritized tasks. As well as dedicating appropriate resources including time to tasks as and when needed. This also included being able to critically analyze different sources of information related to the project and relating them to the question at hand. Working through challenges enabled me to learn to be innovative when faced with problems and be better able to devise solutions under pressure. The project required me to adapt to working under pressure as the timelines were a bit too tight, but I was able to ultimately pull it off. Assessing the impacts of Brexit on retailers also allowed me to perfect on various aspects of research skills as I was able to move from general observations to specific conclusions. Aside from being able to look at the problems from both the impact on the organization as well as on the people within the organization to be able to come up with a complete view of the situation as it is. This allowed me to better appreciate the fact that geopolitical policies have a great impact on socio-economic activities in as much as they are not directly related.
Task Target(Measure to indicate the task is completed) A Series of Activities by Week recorded from the start of the Project
Introduction Week 1-2 Sep – 08 Oct Nov Dec Jan – 09 Feb
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
List of figures Week 2-3 -1079519177000 Literature Review Week 3-4 10795018732500 Methodology Week 4-5 11366519113500 14033518923000 Findings Week 5-6 18224519431000 Results Week 6-7 -762021082000 Discussions Week 7-8 -190520574000 Emerging Issues Critiques Week 8-9 036957000 Limitations and Recommendations Week 9-10 -571544196000
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