Business Decision Making

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Create a plan for collection of primary and secondary data..................................................3
1.2 Present a Survey methodology and sample frame................................................................3
1.3 Design a Questionnaire.........................................................................................................4
TASK 2............................................................................................................................................6
2.1 Create information for decision making by summarizing the data.......................................6
2.2 Analysis of data to draw the conclusions..............................................................................7
2.3 Analyze the data using measures of dispersion.....................................................................7
2.4 Explain Quartiles, percentiles and correlation coefficient to draw conclusions...................8
TASK 3............................................................................................................................................9
3.1 Produce graph using spreadsheets and draw conclusions.....................................................9
3.2 Create trend lines in spreadsheet graphs to assist in forecasting........................................11
3.3 Prepare business presentation.............................................................................................11
3.4 Produce a formal business report for the proposed new product development initiative.. .11
TASK 4..........................................................................................................................................12
4.1 Use appropriate information processing tools.....................................................................12
4.2 Prepare a project plan for an activity and determine a critical path....................................13
...................................................................................................................................................16
4.3 Use financial tools for decision making. ............................................................................17
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
The chosen company Alfa tours Limited is a tour operating company operating in UK
for any business to sustain in the market it requires efficient decision making and also highly
impact the success of the business success as well is engaged in the business of operating the
tour and travel activities over the globe. Hence the main aim is choosing a new destination for
the people hence to identify the choices and preference the customers various methods like the
survey and sampling methods are used.
TASK 1
1.1 Create a plan for collection of primary and secondary data.
Alfa Travel being a tour operating company uses both the source of data collection which
are as follows- Primary Sources- For drawing conclusions it is essential to first collect data and that can
be done from the primary sources of data collection. Primary source of data collection
implies the first time data collection and this is usually done by the person himself to find
come tour destination. This can be easily done with the help of questionnaires which help
us to know the destination where customers want to travel (Alexakos, 2016). The various
sources of data collection are interviews, questionnaires, surveys etc. here the data which
is collected is completely raw and is based on the perceptions and feelings of customers.
 Secondary Sources- This type of data is collected by someone else and is used by the
user to keep it as a base like Magazines, Internet, reports, Government reports and
historical data and information. Alfa Travel Limited can use the secondary sources such
as the past track record to analyze the expected customers for the current year like the
age group of people etc.
1.2 Present a Survey methodology and sample frame.
Considering a problem to be the deciding the destination. For solving this problem the
survey methodology and sampling frame are formed by Alfa Travel Limited. Basically the data
which is required is both quantitative and qualitative data. Form the quantitative data one can
know the prices which the customers are willing to pay or the destination and when it comes to
the qualitative data it can be obtained by questionnaires to know the destination preferences of
the customers. Hence for Ala Travel Limited both sources of information is necessary.

 Survey Methodology- The tour operator for deciding the location conducts a survey to
figure out the preferred destination for the customers as the main aim for any tour
operating company is to provide with the variety of options and then conducting a survey
to know the most preferred location by the customers by making them fill the
questionnaires.
 Sampling Frame- As the number of customers is very large hence everyone cannot be
taken into consideration. Hence the best method which can be used is sampling. A sample
is selected which is a representative of the entire population (Bryman, 2015). As Alfa
Travel Limited is a very fast growing company in organizing the holiday tours hence for
them to know the preferences of customers survey method becomes very cumbersome.
Hence sampling method is best suited.
1.3 Design a Questionnaire.
Dear All,
kindly spare two minutes to go thorough the questionnaire and feel free to respond to the
same as this will help us to know your tour preferences and improve our quality of service.
Q.1. Age group
A) 20-30
B) 30-40
C) 40-50
D) Above 50
Q. 2. Are you satisfied with our service?
A) Highly dissatisfied
B) Not Satisfied
C) Satisfied
D) Moderately Satisfied
E) Highly Satisfied
Q. 3. How often you Travel?
A) Every Week
B) Every Month
C) Once in 3 Months
D) Once in 6 Months