Serious Games for Improved Decision Making

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This assignment delves into the utilization of serious games for bolstering decision-making processes. It examines the theoretical underpinnings and practical applications of this approach across diverse sectors. Key concepts such as change management, decision-making under uncertainty, and total cost of care estimation are explored in the context of serious game design and implementation. The assignment also highlights the role of technology, including cloud computing and artificial intelligence, in shaping modern decision support systems.

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BUSINESS DECISION MAKING

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TABLE OF CONTENTS
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
1.1 Primary and secondary sources of data..................................................................................3
1.2 Survey methodology and sampling frame work....................................................................6
1.3 Questionnaire.........................................................................................................................7
Task 2...............................................................................................................................................9
2.1 Calculations of Mean, mode and median...............................................................................9
2.2 Analyses of results...............................................................................................................11
2.3 Calculation of range, inter-quartile and standard deviation.................................................12
2.4 Calculation of correlation and quartiles...............................................................................13
Task 3.............................................................................................................................................15
3.1 Graphs and interpretation.....................................................................................................15
3.2 Trend lines and scatter graphs..............................................................................................20
3.3 data presentation..................................................................................................................20
3.4 Business report.....................................................................................................................25
Task 4.............................................................................................................................................26
4.1 Use of information processing tool to mange inventory......................................................26
4.2 Project plan..........................................................................................................................26
4.3 Investment decisions............................................................................................................28
Conclusion.....................................................................................................................................29
References......................................................................................................................................30
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INTRODUCTION
Decision making is indispensable part of business; innumerable decisions affect the
overall performance of organization significantly. Managers have to take appropriate decisions
out of many alternatives which can help in growth of the company. Present report is based on
Kitchen Design Ltd (Kennedy and Avila, 2013). It is a reputed brand of contemporary kitchen
installation. Firm is aiming to explore opportunities for bathroom design and equipment.
Assignment will discuss primary and secondary source of data that can help the cited firm to
diversify into new market. For carrying out the research, survey methodology and sampling
frame work will be discussed in this study. Calculations of mean, mode, median will be done for
measuring working of the organization. Graphs, line chart will be presented for drawing valid
conclusion so that managers can make sound decision. Use of information processing tool will
be discussed for managing inventory effectively. Calculations of investment appraisal techniques
NPV & IRR will be done in this study (Poonnawat and Lehmann, 2014).
TASK 1
1.1 Primary and secondary sources of data
Data collection is detailed systematic approach that gathers relevant data for measuring
information so that accurate picture of work area can be identified significantly. It ensures that
the company should have accurate data so that sound decision can be taken by the firms. Data
collection plan prevents from errors so that researcher can collect valid details which can be
worthwhile for the business (Franks and et.al, 2014).
Data collection plan
Stage Description
Purpose of data collection As Kitchen Design Ltd wishes to explore its
opportunity in the market so this research will
support the cited firm in knowing the real
market situation. The main purpose of this
research is to identify the accurate picture
whether this market is potential or not for
home furniture (Teirlinck and Spithoven,
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2013).
Type of data Primary data:
These are such details which are collected by
the research specific for the work area.
Researcher can collect data through personal
interviews, surveys, questionnaires,
observation and testing. Email, internet etc. are
many more options through which the
researcher can communicate with the
respondents and can know their point of views.
Secondary data:
These are such details which already exist.
These data are collected by other scholars for
different purposes. It can be collected from
internal and external sources. This is
inexpensive technique and provides clear path
for the research. Books, journals, internet,
articles, etc. are the secondary data (Cao and
et.al, 2015).
Quantitative:
These are factual data that have some figures
or are based on statistical figures. As valid
numerical data is collected so sound decisions
can be taken by the firm.
Qualitative:
These are such details which discuss the
opinion or views of the respondents. This is
subjective and personal. Research topics are
explored in depth.
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Sources of data Internal source:
It is such information which are related to the
internal working of the organization. Sales
records, customers records, prior research,
balance sheet, stock record, retail data can give
detail about previous history of the firm
(Drumwright, Prentice and Biasucci, 2015).
External data:
These are such information which is gathered
by the external environment. It is used when
researcher cannot take appropriate judgment
with the help of internal data. Government
publication, media such as TV, Radio, trade
association, retail prices etc. are such details
which can help researcher of Kitchen Design
Ltd in knowing the potential of particular
market (Anderson and et.al, 2016).
Tools of data collection Questionnaire
Survey
interviews
Observation
Experiment
Sampling frame Simple random sampling and systematic
sampling are two frameworks. Probability and
non probability are two sampling framework.
For the research probability technique of
simple random sampling will be appropriate.
For the research potential, respondents would
be builders because they Know better
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preferences of consumers.
Sampling methods For the research, stratified random sampling
will be chosen.
Sample size For the research, 2000 sample size is being
chosen (Padilla-Garrido and et.al, 2014).
Resources Time
financial resources
human resource (5 researchers)
Data storage Data of the research will be stored in the Hard
disk and memory cards. Further, for the backup
it will be stored in the magnetic tape. It is
neccesary to look upon the protection of the
data so that no misused take place.
Researcher of Kitchen Design Ltd will not
commercially use this information. It will be
used just for the cited firm.
Data analyses For analyzing the data bar, line, pie charts will
be used. Standard deviation and correlation
coefficient will be calculated for analyzing the
data.
1.2 Survey methodology and sampling frame work
Sampling frame work is the technique which is used by the researcher for statistical
analyses. There are generally two types of frame works probability and non probability (Nguyen
and et.al, 2016).
Probability methods:
Simple random sampling
Systematic sampling
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Stratified random sampling Cluster sampling
Non-probability methods
Quoto
Convenience
Judgment
For the research regarding Kitchen Design Ltd, Stratified random sampling would be
better. It is the method in which population is divided into strata and then the researcher
randomly selects respondents for the research. As there are number of builders so it is not
possible fill questionnaire with mass people. So scholar collect information from the strata as it
will fill up the questionnaire with 2000 builders. By this way, researcher will be able to gather
data from different builders those who are constructing building in different areas. So tests
regarding designing and equipment of mass customers can be identified easily. Stratified random
sampling in probability frame work would be better for the market research (Grund and Meier,
2016). Further, by following this method sampling errors can get reduced to a great extent, as
there is heterogeneity and homogeneity in the strata so research can give more accurate results.
By this way, scholar will be able to cover mass area. Questionnaire strategy is one of the best
strategies which can help in knowing buying behavior, preferences of consumers in design of
bathroom and homes.
Survey methodology: It is an effective tool through which scholar of Kitchen Design Ltd
can gather authentic and real information about preferences of consumers, their test etc in a
particular area. Questionnaire will be selected by the researcher as the survey technique. By this
way, builders will be able to tell their point of views regarding test of actual buyers in the
bathroom designing. So Kitchen Design Ltd will be able to provide equipment according to the
demands and needs of the service users (de Morais Bezerra, Melo and Costa, 2014).
1.3 Questionnaire
1. Age of customers those who take interest in remodeling of bathrooms?
18-27
28-37
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38-47
48-57
2. Gender of customers who have more interest in the designed bathroom?
Female
Male
3. What are the annual spending of customers in remodeling of bathrooms??
< £25000
<£50000
<£75000
<£10000
4. What is the satisfaction level of customers of Kitchen Design Ltd?
Strongly satisfied
Satisfied
Dissatisfied
Strongly dissatisfied
5. What is the major factor that influences buying behavior of home owners?
Price
Quality
After sales service
Other
6. New bathroom can be described as
master bath
Main/Children bath
Guest bath
7. Which type of theme is generally preferred by customers?
Colonial
Euro-look
Southwestern
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Other
8. What is the size of bathroom?
10Emp
20Emp
50Emp
More than 50Emp
9. What material is generally preferred by customers in their bathroom?
Marble
Half marble
Synthetic
Glass
Tiles
10. How often customers buy bathroom items?
Yearly
Every 2-3 year
Every 4-8 year
8+ year
11. Have ever purchased any product from Kitchen design Ltd?
Yes
No
12. Do you prefer to shop for your bathroom needs online or in store?
Online
in store
13. If you have any query which was not addressed, you can ask?
TASK 2
2.1 Calculations of Mean, mode and median
According o the given scenario sales records of Kitchen Design Ltd are as following:
Months Country (000 £) Minimalist (000 £)
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January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
Mean:
It is the average value of all numbers, it is also known as arithmetic mean.
It is the descriptive analyses tool, on the bases of variable performance Kitchen design Ltd can
measured its performance whether it is working or not (Ziuziański, Furmankiewicz and Sołtysik-
Piorunkiewicz, 2014).
Formula:
Sum of all numbers/ total numbers
On the bases of given data mean can be calculated as below:
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
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October 180 370
November 140 400
December 90 420
Mean 191.66666
67
353.3333333
Median
Median is the middle value, It divides the entire data into two sets by this way manager
can identify the sales trends. Calculation of median is as following:
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
Median 175 350
Calculation of mode
It is a statistical tool that shows the repeated values in the set of data. Same value
repetition reflects that particular sales trend is repeating again and again. On the bases of this
calculation consult of Kitchen Design Ltd can identify the growth of the business in other
business as well.
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
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October 180 370
November 140 400
December 90 420
Mode 90 350
2.2 Analyses of results
From the above calculations, results can be analyzed significantly:
Mean: From the calculation of mean it is found that mean value in Country is 191.6666667 and
in Minimalist it is 353.3333333. Kitchen Design Ltd is performing well sales in the minimalist is
very high as compare to country line. If in this market cited firm invest its amount then there are
high chances to get higher profit.
Median: it divides the entire data into two parts (Engin and et.al, 2014). In country value of
median is 175 whereas in Minimalist value of median is 350.
Mode: It shows the repeated value, in the country it is 90 whereas in Minimalist it is 350. So it
can be said that sales volume is high in Minimalist as compare to Country. So on the bases of
this it can be concluded that product Minimalist is far better than country so it can give higher
profit in future than Country.
2.3 Calculation of range, inter-quartile and standard deviation
Standard deviation
It is used by the consultant to quantify the amount of variation of a set data. By this way
variation in the sales figures can be measured by the Kitchen Design Ltd. Variability of sales can
be measured by the cited firm with the help of standard deviation. It is the simple calculative
method, by this way up and down in the sales can be measured by the organization effectively.
That would help it in taking effective decisions (Laudon and Laudon, 2013).
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
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June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
STDEV 88.300451
28
44.78906793
From the above calculation of standard deviation it can be said that in the country product
ups and down are high as compare to minimalist. In the country standard deviation is 88.3004
and in minimalist value of standard deviation value is 44.7890. So it can be concluded that sales
of minimalist product is quite stable and good so overall it would give better results to the
Kitchen Design Ltd.
Range
It is value that shows the difference between higher sales value and lower sales volume.
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
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Range 230 130
From the above calculations it is identified that inter-range value of product Country is
230 whereas inter range value of product minimalist is 130. So gap in country is quit high as
compare to minimalist.
2.4 Calculation of correlation and quartiles
Quartiles
It explains the spread of set of data, as for the calculation data is beaked into quarts (Tao
and et.al, 2014).
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
Q1 120 317.5
Q2 175 350
Q3 282.5 377.5
From the calculation it can be identified that Q1 is 120 in country whereas in minimalist
value of Q1 is 317.5. In the country product value of Q2 is 175 whereas in minimalist it is 350.
Value of Q3 in country is 282.5 and in minimalist it is 377.5. On the bases of entire calculation it
can be said that minimalist is performing well and it future also if Kitchen Design Ltd goes with
this products then it would be able to get higher returns.
Correlation coefficient
It is the statistical tool which helps to measure the degree of changes in one variable and
it impacts on other. It is expressed in term of +1 and -1. Positive correlation shows that change in
one variable will change the direction of other variable in the same manner (Gaynor and Muir
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III, 2014). Whereas -1 shows that if one is growing then other variable will decline or opposite
direction changes will be taken place.
Country Minimalist
January 90 430
February 80 360
March 130 350
April 170 350
May 240 320
June 280 330
July 290 310
August 310 300
September 300 300
October 180 370
November 140 400
December 90 420
Correl -
0.8658238
72
From the above calculation it can be identified that correlation is -1, it means if sales of
Country is increasing then sales of minimalist will get down. Changes will be taken place in
opposite directions in both products.
TASK 3
3.1 Graphs and interpretation
Graphs and charts are the easiest way to present the data, with the help of this researcher
can develop better understanding for the authorities of Kitchen Design Ltd. By using graphs and
charts engagement of audience can be maintained for the longer period.
It is beneficial to poignant description of data in front of mass audience, that can reduce
misunderstanding and confusions. It shows data in systematic manner as categorize wise so it
can help the managers in developing better understandings (Hayes, 2014). Another advantage of
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using graphs and charts is that accuracy and reasonableness can be checked significantly by
using these presentations.
According to the given scenario, average industry sales of four products are as following:
Year
Product
2012 2013 2014 2015
Victorian £4M £4.5M £5M £5.3M
Budget £6M £6.3M £6.9M £7M
Wetroom £2.5M £2.3M £2.2M £2M
Sauna £3M £2.75M £2.5M £2M
Victorian Budget Wetroom Sauna
0
2
4
6
8
4
6
2.5 3 Sales 2012
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Victorian
Budget
Wetroom
Sauna
0 1 2 3 4 5 6 7
4.5
6.3
2.3
2.75
Sales 2013
17
5
6.9
2.2
Victorian
Budget
Wetroom
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Victorian Budget Wetroom Sauna
0
1
2
3
4
5
6
7
8
5.3
7
2 2
Sales 2015
18
Victorian Budget Wetroom Sauna
0
1
2
3
4
5
6
7
8
5.3
7
2 2
Sales 2012
Sales 2013
Sales 2014
Sales 2015
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19
Sales 2012 Sales 2013 Sales 2014 Sales 2015
0
1
2
3
4
5
6
4
4.5
5 5.3
Victorian
Sales 2012
Sales 2013
Sales 2014
Sales 2015
5.4 5.6 5.8 6 6.2 6.4 6.6 6.8 7 7.2
Budget

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Interpretation: From the above graph it can be said that in the year 2012 sales of Victorian was
4m, budget was 6M, Wetroom was 2.5M and Sauna was 3 M. So in 2012 sales of budget product
was too high as compare to others. In the year of 2013 sales figures of victorian was 4.5M,
budget was 6.3M, Wetrrom was 2.3M and Sauna was 2.75M. So it can be interpreted that in the
year of 2013 sales volume of budget was again high as compare to other products. In the 2014
sales of victorian was 5M, budget was 6.9M, wetroom was 2.2 and Sauna was 2.5M. So in this
year also sales volume was high of the budget product (Milis, 2009). In the year 2015 it was
20
2.5
2.3
2.2
2
Sales 2012
Sales 2013
Sales 2014
Sales 2015
Sales 2012 Sales 2013 Sales 2014 Sales 2015
0
0.5
1
1.5
2
2.5
3
3.5
Sauna
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5.3,7,2,and 2M so in the year also it was high in budget. So overall conclusion can be drawn that
budget is the product which has high capability to earn profit. This is most likable product and
sales of this is higher as compare to others in all years. So it can be assumed that in near future
also it would be profitable for the Kitchen Design Ltd.
3.2 Trend lines and scatter graphs
Trend line is the diagram which shows the increasing or decreasing value of the data set
at a steady rate. It shows the general; pattern of the set data by this way managers of the Kitchen
Design Ltd can make their decision significantly (What Is a Management Information System?,
2017).
The purpose of using trend lines are to identify the trend of sales whether it is positive or
negative.
From the trend line diagram it can be said that Kitchen needs to go with budget as its
sales is continuous increasing. So in future it can give high returns.
From the trend line diagram it can be said that Kitchen needs to go with budget as its
sales is continuous increasing. So in future it can give high returns.
3.3 data presentation
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Victorian Budget Wetroom Sauna
0
1
2
3
4
5
6
7
8
Sales 2012
Sales 2013
Sales 2014
Sales 2015
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3.4 Business report
To: The Director of Kitchen Design Ltd
From: market research consultant
Date: 01 March 2017
Subject: Opportunity and threats in the bathroom design and equipment market
Introduction
This research has been carry out by me for understanding the potential of new market for
Kitchen Design Ltd. In the research, scholar has used the secondary data and researcher has used
some previous statistics for conducting this research effectively. In the primary data scholar has
asked questions with the builders for knowing the buying behavior and tests of the consumers.
For the research 2000 respondents as sample size have been selected by the researcher. On the
bases of primary and secondary data final report have been obtained.
Discussion
From the research it has been found that kitchen Design Ltd has many products but budget is the
most appropriate products. As sales rates are higher in it as compare to other products. If cited
firm goes with this item then it would be able to gain higher profit in the new market. This would
be potential market for the organization. As in this market it is essential to concentrate on the
buying behavior and preferences of the consumers. By this way it needs to design its equipment
so that in the minimum cost it could gain higher returns. From the task 2 it is identified that mean
value of country is 191 and minimalist mean value is 353. So minimalist is the good product and
it can give better results to the entity. As in country ups and down are too high so it may give
loss also in future to the Kitchen Design Ltd.
Conclusion
From the above report it can be concluded that minimalist is the great products and it
would give positive results to the Kitchen Design Ltd in future as well. By looking upon sales of
four products year wise it can be articulated that in every year industry sales are higher in Budget
product.
Recommendation
From the calculations and graphs it can be recommended that budget would be better
option for the Kitchen Design Ltd so cited firm should go with it. Minimalist line is better option
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for the entity so if it goes with this so there would be high chances to get higher profit in the
future.
TASK 4
4.1 Use of information processing tool to mange inventory
Management information system is the computer based system that supports the entities
in managing its operations significantly. It focuses on the information of the organizations and
technological system. It helps to keep records of all data such as inventory, employees, sales etc.
By this way companies can track their performance and can modify their operations accordingly.
It is an essential tool through which corporations can determine business problems and managers
can find out proper solutions to solve these issues.
The major advantage of this technique is that to identify the situation of the busi8ness
significantly and take actions which can give positive result to the company. It reports on cost of
inventories, level of stock, value of inventories so hat management can take suitable action for
the well fare of the company (What Is a Management Information System?, 2017).
There are many tools of MIS such as: Transaction processing system: It is one of the major tool which is used by the managers
of Kitchen Design Ltd. With the help of this tool authorities of cited firm can monitor the
activities and can find out the improvement areas. This tool helps in managing the
inventories well, as surplus and shortage of stock can be measured by these records. So
management can take appropriate action for the issues.
Decision support system: It is another software which is used by the managerial and
operational level individuals in the Kitchen Design Ltd. With the help of this root cause
related to inventory can be analyzed effectively. So problems related to over stock or
shortage of stock will not take place in he cited firm for longer period (What Is a
Management Information System?, 2017).
4.2 Project plan
Gantt chart is the commonly used tool in the project management. With the help of this
technique companies can show their activities and can identify their completion time duration. It
assists in knowing the various activities for the project, starting and end dates can be identified
by Gantt chart.
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Activities Duration
Preceding Activity
(Days)
1 Obtain estimate for new MIS 6 -
2 Reconfigure communication cable as necessary 3 1
3 Staff selection and appointment 2 -
4 Office rearrangements 5 1
5 Testing of communications 5 3
6 Induction and instruction for new system users 5 3
7 Sites re-wiring 6 2,
4, 5
8 Set up of sites computer links 4 7
9 Install new hardware 4 7
10 Test new hardware 3 6,
7, 8, 9
11 Test new system 3 10
Critical path:
=1+2+7+8+9+4+5+3+10+11
=60
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4.3 Investment decisions
Before making investment decisions it is very important that organizations analyses the
effectiveness of the project for the organization. If firms invest in such project which is high
profit generating then it would give positive result to the entities. There are several methods such
as NPV, ARR, IRR etc. through which managers can take their own decisions regarding
investment.
Net Present value
It is tool which defines the difference between present investment value and future return.
Year Supplier A (£’000) Supplier B (£’000)
2017 250 300
2018 300 350
2019 350 375
2020 375 400
2021 400 425
Supplier A Pv @10% Present value Supplier B PV @ 10% Present value
Initial
investment 0.9 1.2
1 250 0.909 227 300 0.909 273
2 300 0.826 248 350 0.826 289
3 350 0.751 263 375 0.751 282
4 375 0.683 256 400 0.683 273
5 400 0.621 248 425 0.621 264
6 0 0.564 0 0 0.564 0
Total 1243 1381
NPV 1242 1380
From the above calculations it can be said that in the supplier A value of NPV is 1242,
whereas NPV value of supplier B is 1380 So investment in the second project which is supplier
B will be beneficial for the Kitchen Design Ltd (Milis, 2009).
Internal rate of return (IRR)
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It is widely used by the entities for measuring the invest performance. It calculates the
actual return and compare return of all projects.
Supplier A Supplier B
Initial
investment -0.9 -1.2
1 0.25 0.3
2 0.3 0.35
3 0.35 0.375
4 0.375 0.4
5 0.4 0.425
6 0 0
IRR 22.78% 15.40%
So from the calculations it can be said that Kitchen Design Ltd should go with supplier
A. As in supplier A cited firm can get return of 22.78% whereas in supplier B I can get 15.40%.
So investment in supplier B would be beneficial for the entity (Milis, 2009).
CONCLUSION
From the above report it can be concluded that business decisions play a vital role in the
success of the business. If manager is able to make sound decisions then it would give positive
results to the organization. Kitchen Design Ltd has filled up questionnaire with the builders, by
knowing their point of view researcher can measure the potential of new market for the cited
firm. From the graphs and charts it can be articulated that budget is the best project as its sales
volume is high in all years. So this can be positive returns to the organizations as well if it enters
in this market so it would get better results.
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REFERENCES
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