Business Decision Making

This document provides an overview of the decision-making process in business and its impact on company success. It covers topics such as data collection planning, survey methodology, questionnaire design, data analysis techniques, and the use of software and financial tools for decision making. The document is based on a case study of a UK college and includes examples and explanations.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
1.1 Planning for collecting data..................................................................................................4
1.2 Survey methodology and sample framing.............................................................................6
1.3 Questionnaire for collecting data..........................................................................................7
TASK 2............................................................................................................................................8
2.1 & 2.2 Data analysis by using different tools and techniques and their interpretation..........8
2.3 Analysis of data by using the measures of dispersion...........................................................9
2.4 Explanation of quartile, percentile and coefficient correlation.............................................9
TASK 3..........................................................................................................................................11
3.1 Graph...................................................................................................................................11
3.2 Trend line............................................................................................................................11
3.3 To be covered in Power Point Presentation........................................................................12
3.4 Formal Report.....................................................................................................................12
TASK 4..........................................................................................................................................13
4.1 Use of software while making any decisions......................................................................13
4.2 Project plan and framing or critical path.............................................................................14
4.3 Financial tools for decision making....................................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Each and every company have to make appropriate decision so that they can attain the
success in the competitive market. A decision refers to the different course of action which
having a different purpose and on the basis of that they have to set the alternatives so that they
can manage all the organisational activities which helps in attaining the goals and objectives.
They have to reap the targets and ion the basis of that they have to make appropriate and relevant
decisions and according to that they have to earn best outcomes. In the growth of the firms,
decisions play a important role (Ford, and Richardson,2013). Along with this, successful firms in
the industry have to make relevant decisions so that they can reap the long term goals. The
present report is based on UK college of business along with the computing. In every college,
documents of the students should be needed so that they can get all the information about
students and get satisfied. In the below mentioned report, the employees have to do proper
evaluation by using primary and secondary data. To reap the good results, data collection process
needs to be done so that they can attain success.
TASK 1
1.1 Planning for collecting data
There are different sources which assist in collecting the data along with the information
so that they can attain the goals and objectives. They have to make the survey and it is helpful to
them in accomplishing the best results.
Primary Data-Primary data is an first hand collected data. The information is collected
through first hand published data. The primary data is considerably collected for specific
research projects. It is basically collected to meet the requirements of the research reports.
Primary data can be collected through questionnaire, interviews, direct observations
(Zimmerman,and Yahya-Zadeh, 2011). Collection of primary data- There are some common
methods of collecting primary source data. The methods are:
Interviews: The interviews are the meeting of people face to face or through telephonic
calls or through video conferencing. The interviews are the structured state of questions asked by
the user to get to know their ability skills knowledge and the experience what they feel.
Questionnaire: Questionnaire are basically the set of questions (Frey,, Schulz-Hardt, and
Stahlberg, 2013). The information is collected through questionnaire by sending a set of

particular questions to the concerned person and in against requesting them to fill up and the
questionnaire and re send the mail. This is an cheap way of collecting data but as on the same
many people denied or not to feel to fill the questionnaire.
Observation Method: The observation method consist with the doing the observation to
the particular respondent. In the observation method the information is obtained by the
observation way. The investigator or the data collector observe the particular respondent or the
user and observe them. The direct observation on the working is observed. It is an free way of
collecting data without requiring the willingness of the user . Observation is considered as an
expensive method of collecting data and also considers as a time consuming method also
(Gigerenzer, and Gaissmaier,2011).
Scheduled Method: The scheduled methods are slightly similar to the questionnaire
method the basically difference between the both is the scheduled method are the particular set
of questions scheduled to ask from a particular set of people .questions are asked to only the
special assigned people in schedule method. This helps in removing the barriers and
misunderstanding which user feels for the particular questions.
Secondary Data- Secondary data are the second hand collected data. The information is
not directly collected by the user the information is through someone other than the particular
user. The secondary data is the second hand data that is already collected and available from the
other sources. The information is available in other sources of information (Lunenburg, 2011).
The secondary data is easily available information and it is an cheaper source of information.
The secondary data is an time consuming method. The secondary data is collected through the
magazines, newspaper,libraries,internet. The secondary data is collected in both quantitative and
qualitative terms in collecting data. The quantitative data consists surveys, financial statements,
statistics. The qualitative data consists through newspaper, dairies, transcripts. The secondary
data can be collected through internal and external to the organisation by the researcher.
The internal sources of collecting data are:
 Sales Reports; The sales reports are the reports detailing about the products sold within a
particular year (Wu, and Pagell 2011).
 Financial Statements : The financial Statements are the formal records collected to record
the financial activates of an businesses activities and for knowing the financial position of
the business.

 Demographic profile of the customers:age,name, contact details - The demographic
information consists the personal information of the respondent.
 Detailed study of the company information: The detailed studied consists the briefly
consisting information of the company including rules policies and past record data's
(Provost, and Fawcett 2013).
 Reports and feedbacks from the respective customers, dealers: The information is
collected through the customers,dealers,distributor and the collected information is used
by the researcher for collection of data.
The external sources of collecting data are:
 Libraries - Libraries considers different types of books collected together .
 Business journals - A journal is considered as am way of collecting record or events of
the businesses. Business journal contains the information about the business past
activities and records.
 Gathering information from the other government departments
 Internet, where the world wide knowledge is available from the different sources.
1.2 Survey methodology and sample framing
Survey methodology is a field of applied statistics of the human research survey, survey
methodology which includes the sampling of the individual units from a population along with
the associated survey data by using the different collection techniques which includes the
questionnaire, interviews etc. as well as methods for improving the number as well as accuracy
of the responses to do surveys. Survey help the company is attaining the actual and correct
information and on the basis of that they can take the suggestions as well as opinions from the
consumers. The employees of the college by making the questionnaire and survey can be done
by them (Cronan, and et. al., 2011). Distinctive questions asked by the students and the answers
which are given by them helps in doing data evaluation and present that data or information into
statistical form. This methodology are classified into three types which includes personal
interview, mail survey, telephonic survey etc.
Personal Interview: The employees of the firm have to use this method of survey to
collect the actual information as this method helps in doing the personal interaction between the
investigator as well as respondent. A personal interview is considered as an face to face
interview. It is an face to face interview in which a respondent and interviewer had to face each

other .The interviewer asked questions to the respondent and respondent had to reply for the
particular question asked. The basic aim of doing personal interview is to get the deeper
knowledge of an particular respondent and get to know their personal knowledge ability skills.
The personal information also helps to observe the facial expressions of the respondent ( Isik,
Jones, and Sidorova, 2013).
Mail Survey: Mail survey are the quantitative tools of research. The structured questioned
are sent to the respondent and the in against the respondent has to fill up the questionnaire and
had to send it again to the the specific person. Mail survey basically aims to get to know the
customer satisfaction or the member satisfaction. Mail survey basically considers as an feedback
from the respondent as it helps in getting to know the customer satisfaction level. Mail survey is
also considered an economical way of collecting data.
Telephone Survey: A telephonic survey is considered as an structured way of collecting
data. A telephone survey is an public research of collecting data the data is collected through
random calls to the respondent. Out Of all the collection data method telephonic survey is
considered as most suitable by the respondent as all the user nearly access the telephones.
Telephone Survey also allowed to collect data in a accurate format with the proper time limit.
The structured questionnaires are asked particular respondent through the telephonic calls in
telephone survey (Shouzhen and et. al., 2014).
This methodology of survey which includes the sample framing in which they have to
accomplish the information and data through different number of person. In the sample framing
process, agency of UK college which helps in selecting the group of people which are distinctive
from each other. In this task, quality assurance agency have to use the random sampling method
in which employees of the college have to select the different number of person . Along with this
they have to prepare a questionnaire and asked by the students and filled up by them so that they
can collect the information and by using that data they can collect the best outcome.
1.3 Questionnaire for collecting data
The questionnaire is included in primary research as it helps in collecting the data or
information and it is based on the 200 students by using the random sampling. It helps the
college of UK in attaining the accurate information to know about all the students and on the
basis of that they can provide the proper satisfaction as well as experience.
Name:

Age:
Gender:
Qualification/Class:
Q1. What kind of atmosphere college provide to their students?
 Good
 Normal
 Poor
Q2. The behaviour of the college teachers or staff members is acceptable or not?
 Yes
 No
Q3. In the hostel facilities is provided to the students. It is good or bad?
 Good
 Bad
Q4. Any opinion about the college library?
 Good
 Satisfied
 Not Satisfied
Q5. Any issues are you facing related to security?
 Yes
 No
Q6. What type of courses do you want to be get more time?
 Professional
 Related with any other field
Q7. How well do you like our college?
 Strong
 Weak
Q8. Any recommendation? If necessary?
TASK 2
2.1 & 2.2 Data analysis by using different tools and techniques and their interpretation

By doing the calculation of the mean, mode and median it is examining as well as
interpreting that there are different age group students in UK college and they are having the
distinctive aspects about their experience along with the satisfaction. Mean is the average value
of the numbers and it is calculated as a central value of a set if numbers. It is calculated by
adding the entire of all the measurements and then divide it by the numbers of the observations.
By doing the research as well as calculation it has been analysed that mean is 26.666667. it
means that 26.66667 number of students are satisfied with the college authority. By getting the
feedback they can make the improvements in the facilities of the college which they are
providing to their students.
Another is median and it is a middle number of the series. To find the media all the
numbers should be put in a numerical order and if there is an odd number of results as well as
median is the middle number (Zavadskas and Turskis, 2011). If there is an even number, then the
median will be the mean of two central numbers. By doing the calculation it has been identified
that median is 23 and it shows that many students of the college are satisfied by filling the
questionnaire.
In addition to mode as it is a value that appears in a set of data is the mode of a discrete
probability distribution is the value x at which its probability mass function which is to be taken
at a maximum value. By doing the calculation mode is 25.
2.3 Analysis of data by using the measures of dispersion
Measure of dispersion - Dispersion is also known by the (scatter,spread) names. The
measure of dispersion considers that the distribution can be extent to as stretch level it can
occurs. Measure of dispersion consists Range, Standard deviation, Variance, Mean, Absolute
year age group total number of students
2012 17 15
2013 18 35
2014 19 55
2015 20 45
2016 22 25
2017 24 25
200
mean 26.6666666667
median 23
mode 25

deviation. It basically aims at stretching of the data to an extent level. It is basically how the data
is spread out. The most common phrases of measure of dispersion are the range and the standard
deviation. A measure for the dispersion is considered as non negative number that is a real
number and the value is considered as a zero highlights that if the data is considers the same and
increase widely. Measures of dispersion is divided into three terms which includes: Standard
Deviation, Interquartile range along with the range. The fraction of the variance which is
explained called the coefficient of determination (Fassin and Buelens, 2011).
2.4 Explanation of quartile, percentile and coefficient correlation
Quartile, percentile and the correlation coefficient is a part of measures of dispersion and
it helps in calculating the statistical data so that they can do more expansion as well as
elaboration so that employees can understand the data in a easy way. The evaluation as well as
analysis needs to be done by using these three terms:
Quartile - A quartile is a method of quantile. Quartile are the mainly the value that is
divided into quarters. Each quartile is assigned a three data values which helps to allocate into
four equal value the considers as a quarter. The first quartile(Q1) is considered as middle
number between the smallest number and medium set. The second quartile (Q2)is the median of
the data. The third Quartile(Q3) is the medium value between the highest value and medium set.
Percentile - Percentile is the number or value indicating the number or percentage
position in a list. It signifies the percentage value of a number from the data (Gabrielsson, and
Gabrielsson, 2013). Percentile is considered as one value of one variable distributing the other
value frequency into the distribution level. It consider distributing the each value into equal level
frequency.
Coefficient Correlation - The coefficient correlation is considered as parameter that
determines the degree to which the two variables are located.
year age group total number of students
2012 17 15
2013 18 35
2014 19 55
2015 20 45
2016 22 25
2017 24 25

200
mean 26.6666666667
median 23
mode 25
standard deviation 12.2499226961
Lower Range 15
UPPER RANGE 55
50TH QUARTILE 23
50TH PERCENTILE 23
COEFFCIENT OF
CORRELATION 0.69
By doing the calculation and after doing the presentation in the tabular form lower range and
upper range is 15 and 55. According to the data, correlation coefficient is 0.69 which helps in
determining that answer which is calculated is accurate as it is less than 1.
TASK 3
3.1 Graph
The present graph shows the experienced students with the different age groups as it
helps in finding the valid conclusion. This graph denotes the different years in which students of
UKCBC college are satisfied in the appropriate manner (Barry and Edgman-Levitan 2012). It
helps in preparing the report and recover the problems which are not helpful for the business
entity.

3.2 Trend line
Trend line shows the support and resistance in any time frame as it is a visual
presentation for doing the forecasting for the future aspects of the firm. The students of UKCBC
have to use this concept which helps in identifying the growth and on the basis of that they can
satisfied and also assist in maintaining the growth and attain good results.

year age group total number of students
2012 17 15
2013 18 35
2014 19 55
2015 20 45
2016 22 25
2017 24 25
Above trend line which is presented in a tabular format based on the experience as well
as satisfaction of the consumers. It helps in doing forecasting for the satisfaction of the students.
Along with this it helps in finding the trustworthy as well as reliable in nature and also assist in
doing forecasting in the appropriate manner.
3.3 To be covered in Power Point Presentation
3.4 Formal Report
To,
The Management
UK college of business and computing
Date: 2nd May 2017
Subject: Recommendation
The purpose of the present report is to get the focus of the authority towards the quality
assurance of the college in which they have to keep in view about the students satisfaction as
well as experience. Students wants to improve the number of books in the library which helps in
reading and getting more and more knowledge so that they can use and attain success. They
have to use appropriate sources whether it is primary and secondary so that they can collect the
appropriate information in the lack of interest of the students. By using the questionnaire they
can take the feedback or opinion from the students for the developments about the library,
campus facility, security issues and other things which are helpful for the students that is to be
considered. College have to provide the best quality services in a significant manner and by that
they can get the appropriate satisfaction level. Along with this it aid in getting the more and
more students which increase the standard of the college in the market.

TASK 4
4.1 Use of software while making any decisions
The emerging computer technologies in the organisations are getting to making
organisation to develop in a efficient manner. By using the computer technologies like internet
and other computer technologies a organisation can lead to easy development of the information
and leads to less time consuming process. The computer technologies can help to develop the a
strong communication panel between the employees of the organisation.
A organisation can use software programmes like business software programs which
helps in increasing efficiency for the business which is an effective tool for the organisation and
helps in framing strategies for each managerial level Businesses Software are the set of
programmes performed by a business organisation to perform the business functions. It enhance
the productivity of the business efficiency in the businesses (Kouchaki, and et. al., 2013).
The operational level basically aims at performing the operational activities .It helps in
preparing the weekly schedules helps in allocating the resources according to prepared budgets
and schedules for the working in the organisations. It helps in organisation to allocate the task
force (team of working people) according to the requirement needed to perform the task. The
organisation can take a appropriate decision for choosing the required to the a particular
operational task.
The tactical level helps in framing the strategies,rules,procedure,policies which are
helpful for the organisation for their working and for framing the decisions. It helps in allocating
the work into the teams and measure the performance according to their allocation. The
allocation is done into various departments,teams,groups,into sub units .The division of work
accordingly into departments ,subunits helps the organisation to make the decisions as work is
divided into different parts the decision making consists less problem. It leads to solving
ambiguity from the organisation and taking up appropriate decision for the each department.
The strategic level mainly focus on framing overall strategies, setting up the goals and
objectives for the organisation. It basically aims to measure the overall performance of the
organisation which enables the organisation to maintain their efficiency and take appropriate
decisions for the organisation. It also helps the organisation to meet the requirements of external
environment. It leads to cope with the external environment for the organisations. The
organisation take up their decisions after measuring the external environment (Gabrielsson and

Gabrielsson, 2013). The decision can be based according to the competitive market environment.
This helps organisation to survive in competitive world and helps in matching the organisation
with external environment.
4.2 Project plan and framing or critical path
A project plan is a formal document which helps in doing proper and appropriate
designing and they have to provide the proper guidance to do the control and execution of a
project. They have to make proper project plan as it is a key to a successful project. Along with
this it is a most important document which needs to be created when the staff members of the
firm start any project of business. For starting any new project or business new and effective plan
is necessary which helps in doing the time management so that they can complete the project in a
specified time (Gigerenzer and Gaissmaier, 2011). The other aspect which are included in this
that is what is the project about, how much time is to be taken as well as the future aspects which
are going to be associated with the project. From the case study or from the values, the critical
path management of the task is as follows:
Critical path denotes the limited as well as shortest period which is to be taken in
completing the work in a given time. Critical path analysis is a important as well as essential tool
which assist in minimising the number of days which are to be taken in completing the work.
Along with this it decreases the work load as well as distribute the number of days for the
working.

In completing the project, 21 days to be taken as it is the shortest medium in which they
have to complete the work.
4.3 Financial tools for decision making
In the given present scenario, company invest 15000 in a project and they found that the
return from the project is 7702. It shows the positive inflow and it is beneficial for the long term
growth of the business entity. NPV method helps in analysing the efficiency of the project which
can be calculated.
years
Cash
flow
PV@10
%
0 -15000 1 -15000
1 8000 .909 7272
2 10000 .826 8260
3 5000 .751 3755
4 5000 .683 3415
NPV 7702
Internal rate of return states that present value of cash inflow is equal to the present value
of cash outflow. It assist in examining the project effectiveness by the help of the project cost.
-15000
cost of the
machine
8000 1
10000 2

5000 3
5000 4
35%
internal rate
return

CONCLUSION
From the above report it has been concluded that primary data is an first handed collected
data which is collected for the specific research report whereas the Secondary data is an second
hand collected data that is already available in other resources. The computers and software are
the emerging technology that helps the organisation to take the decisions for their efficiency and
requirements for the development of their businesses. The quartile is helpful in assigning the
value in different quarters and divided into three quartiles and percentile refers to the value
indicating to the number or position in a range and list. The coefficient relation indicate the
relation between the two associated variables. lastly the measure of dispersion indicates the data
into spread out data. It is an stretching of the data.

REFERENCES
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communication and decision making: A model of corporate social responsibility and
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Trend-line. [Online]. Available through:<http://www.investopedia.comtermsttrendline.asp>.
[Accessed on 2nd May 2017].
Quartiles, percentiles and correlation coefficients. [Online]. Available
through:<http://doclecture.net/1-55525.html>. [Accessed on 2nd May 2017].