Assignment : Business Decision Making Assignment
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Added on 2020-01-07
Assignment : Business Decision Making Assignment
Added on 2020-01-07
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Assignment titleBusiness Decision MakingInstructionsAn electronic copy of your assessment must be fully uploaded by the deadline date and time.You must submit one single PDF or MS Office Word document. Any relevant images or screenshots must be includedwithin the same MS Office Word or PDF document.The last version you upload will be the one that is marked. Your paper will be marked if you have indicated this as your final submission. Review the mitigating circumstances policy for information relating to extensions.The file size must not exceed 20MB.Answer the criteria in order, clearly indicating the pass criteria number.Ensure that all work has been proof-read and checked prior to submission.Ensure that the layout of your documents are in a professional format with font style Arial, font size 12 for the text, font 14 for sub heading and font 16 for main heading, line spacing 1.5 and justified.Use the Harvard referencing system; otherwise it will be considered as Learner Declaration1
IDate: 08/05/2016BUSINESS DECISION MAKING 2
ContentsIntroduction......................................................................................................................................5Task 1...............................................................................................................................................6Q1: Select a country of your choice where Amistar can be launched, and discuss the reasonswhy your chosen country seems appropriate for expanding your business. This report shouldalso contain a plan explaining how you will collect the primary or secondary data, and adiscussion of the survey methodology you will adopt as well as the sampling method you willuse. (LO 1.1, LO 1.2, LO 3.4 & M2)...........................................................................................6Q2: Design a market survey questionnaire (with around 12 carefully adapted questions) thatcan be used to gain more insights for launching Amistar in a country that you have chosen(include concepts like product preference, place, price and promotion, etc.). (LO1.3)..............8M1: Explainhow you calculate the coefficient of skewness. Justify and explain how you canuse this concept to improve the performance of a business?.....................................................10Task 2.............................................................................................................................................12Q1. Calculation of Mean, Median and Mode and analysis and explanation of the significanceof these statistical calculations to an organization like Syngenta (LO2.1 & LO2.2).................12Q2. Calculation of Range and standard deviation and explanation on the significance of thesecalculations for an organisation like Syngenta (LO 2.3)...........................................................15Q3. Importance of calculation of Quartiles, Percentiles and the correlation coefficient to anorganisation like Syngenta (LO 2.4)..........................................................................................17Task 3 (LO3: 3.1, 3.2, 3.3, M3 and D1)........................................................................................17Q1: Produce a Column/Bar graph showing Sales, Cost and Profit using software such asMicrosoft Excel, and, in a paragraph, draw valid conclusions based on the information derived.(LO3.1)...........................................................................................................................................193
Q2: Produce sales and profit line graphs showing trend lines which can be used for projectingboth the sales and profit. Show the regression equation separately on the graph. (LO3.2).......20Q3: Prepare a presentation using software such as Microsoft PowerPoint, for the upcomingmeeting. Apply part of your answers from Q.1and Q.2 in this task, drawing valid conclusionsand recommendations. (LO 3.3 & M3)......................................................................................22D1...............................................................................................................................................28In approximately 300 words, critically evaluate the use of Time Series Analysis as a tool forforecasting..................................................................................................................................28Task 4 (LO4: 4.1, 4.2, 4.3 and D3)................................................................................................29Q1: From the data above, prepare a Gantt chart, and state the benefits of using Gantt Charts asa Project Management Tool. (LO4.1)........................................................................................30Q2: Prepare a network diagram for the activities using software like Microsoft Project or OpenProject, clearly showing the critical path. In addition, show your calculation and answer forthe Project Duration. (LO4.2)....................................................................................................32Q3: The Payback period, Accounting Rate of Return(ARR) and Net Present Value (NPV) ofeach project. Recommend which project to undertake, and state why you would recommendthis option. (LO4.3& D3)...........................................................................................................34D3: critically evaluate the four measures of investment appraisal (Payback period, ARR, NPVand IRR).....................................................................................................................................38Conclusion.....................................................................................................................................45D2 Achieved here..........................................................................................................................46Works Cited...................................................................................................................................464
IntroductionSyngenta is the company established in UK and planning to launch its new product i.e.Amistar in new market place so that they are able to reap advantage of diversifiedmarket place. For this purpose, research has been conducted and all matters like datacollection, its methods, survey mythology and sampling were used in this report. Aftercollection of relevant data in the research, data shall be analysed by using statisticalmethods. Therefore this report includes use of mean, mode and median for processingdata and makes it error free for decision making.This report also includes methodsunder measures of dispersion i.e. range and standard deviation. Another concern that israised in this report is of capital budgeting methods i.e. payback period, net presentvalue, IRR, etc. These are sued to evaluate capital projects that were undertaken by thecompany. 5
Task 1Q1: Select a country of your choice where Amistar can be launched, and discussthe reasons why your chosen country seems appropriate for expanding yourbusiness. This report should also contain a plan explaining how you willcollect the primary or secondary data, and a discussion of the surveymethodology you will adopt as well as the sampling method you will use.(LO 1.1, LO 1.2, LO 3.4 & M2)Syngenta is the organisation that is dealing in researching and developing fungicide thatwill be used in protecting plants allaround the world. Syngenta is involvedin operatingbusiness that will support and manage security of the plants that were grown all overthe world. Syngenta includes separate department for research and development underwhich they develop such pest management fungicides. Apart from that, Syngenta isalsoinvolve in making farmers as their member in this context and provide them withsufficient education related to securities of plants. Management of Syngenta is considering todevelopnew market for its product i.e.Amistar. Therefore management of Syngenta is concern foridentifying market wherethey can provide its services and can earn huge profits by selling Amistar there. Mainfocus of Syngenta is to provide better measures to country in terms of crops or plantsmanagement and security. Amistar not only provides security to crops but it also helpsin upgrading its quality(Driscoll & Brizee, 2010). Management is looking for the countrywhich has agriculture asits base and therefore we have lined up fewcountries for thesame and they are India, Pakistan, China, Sri Lanka, etc. among them Sri Lanka hasbeen selected for expanding its business by introducing Amistar in there. Appropriate research has been conducted on agricultural sector of Sri Lanka, whichreveals that Sri Lanka has been apopular country in terms of spices, green veggies, etc.Sri Lanka is involved in export of many items that are related to agriculture.Most of thepopulation is involved in agricultural activities there. It has beenseen (after research)that farmers there are usingold technique for the security of plants and crops. Most of6
the areas in Sri Lanka were not using any product that can protect its crops. Other thanthat Sri Lanka includes 52% as agriculture sector and government in Sri Lanka isalsosupporting agriculturalactivities(Kumar, 2014). Therefore the government of SriLanka had announced subsidiary and government grants on the products that weremanufactured or imported for the purpose of security of the crops and plants. This moveof the government of Sri Lanka has made Sri Lanka more attractive in terms of businessexpansion country for Syngenta for their new product i.e. Amistar.For the purpose of this research, both primary and secondary data will be used andthen analysed for making it error free. Primary data is collected from primary sourcesthat include questionnaire, interview, etc. Therefore primary data provides to the pointdata to the researcher (Kaueper & Beaumont, 2010). Therefore in case of Syngenta,primary data will be collected from the use of questionnaires. Questionnaires are themethod under which open ended and close ended question will be asked to the targetpopulation and answers are analysed for the decision making. But in this researchlimited primary data can be gathered because of distance. On the other hand,secondary data will also be gathered for this research. Secondary data shall be carefullygathered and used in this research since it is less reliable as a source. Secondary datafor this research will be collected from internet and mostly from the Sri Lankangovernment sites and from other authorised and official sites only. On the other hand,agricultural sector reports in Sri Lanka will be gathered and analysed so that deeperanalysis for business expansion opportunity can be gathered in terms of Amistarproduct of Syngenta. Since for the collection of primary data questionnaires will be used therefore samplesize, sample criteria and sampling method that is to used need to be defied here. It canbe noted that huge population is to be target therefore adequate sample is to be defined(Driscoll & Brizee, 2010). For this research, simple random sampling method shall beused because there are many farmers or other target people that need to be questionedtherefore simple sampling shall be done. Before providing questionnaires, criteria for therespondent needs to be asked i.e. he / she shall be a farmer, standard income, area ofland used for agriculture, etc. Researcher aims to adopt appropriate survey method in7
regard to undertake appropriate decisions so that it could assist managers in regard tocarry out successful business. However, the information collected through using primarysources are always accurate and feasible. Hence, managers are required to easilyevaluate the crucial information in regard to expand the business functions in market.Also, the data collected through survey methodology results in making appropriatefuture decisions and thus reach potential respondents through spreading questionnairethrough google scholars, social media websites or e-mail. The collected data throughsuch sources helps in making effective decisions in terms of raising businessperformance. Sampling frame- Carrying out random sampling technique helps in collecting randomsample frame in regard to assess the information from selected respondents.Researcher also uses selected frame in regard to assists scholar and thus choose themost crucial group of population from whole universe. Further, it is essential forresearcher to adopt effective techniques through which appropriate information could becollected and thus enhance the business functions in market. It aids management toundertake flexible decision so that business expansion could be attained. Q2: Design a market survey questionnaire (with around 12 carefully adaptedquestions) that can be used to gain more insights for launching Amistar in acountry that you have chosen (include concepts like product preference,place, price and promotion, etc.). (LO1.3)1: What is your agricultural land size?□Less than 1000 sq. Yard□1000 sq yd to 2500 sq yd□2500 sq yd to 5000 sq yd□More than 5000 sqyd2: Do you use any measures to protect your crop?8
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