Project Report: Business Decision Making
Added on 2020-07-22
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1: Data collection strategies from various sources...................................................................11.2 Research methods considered under the project ..................................................................21.3: Questionnaire framework.....................................................................................................32.1: Interpretation........................................................................................................................62.2 : Analyse of the results..........................................................................................................92.3 Analysis of measure of dispersion......................................................................................102.4 percentiles, quartile and correlation coefficient..................................................................11TASK 3..........................................................................................................................................113.1 Interpretation through Bars and pie-charts..........................................................................113.2 Trend line............................................................................................................................163.3 Covered in PPT...................................................................................................................173.4 Formal report.......................................................................................................................17TASK 4..........................................................................................................................................184.1 Planning of project and use of information tools................................................................184.2: Analysis of critical path.....................................................................................................184.3: Financial tools used in decision making............................................................................19CONCLUSION..............................................................................................................................20REFERENCES..............................................................................................................................21
INTRODUCTIONThe decision is the most important aspect in any business which could lead to make theirbusiness sustainable. The Balti Palace is planning to expand their operations for that themanagement of this firm is planning to establish an operations in London. However, beforegoing to open an operations, there is a need to know about the potential market. This couldhappen after having the proper survey about the potential market. Under the quoted research,management is going to frame the questionnaire so that they would get to know about thepotential market and make the strategies effectively (Wu and Pagell, 2011). After knowing themarket, Balti palace is able to attain their pre-set objectives in order to have the sustainabledevelopment over the other rivals.TASK 11.1: Data collection strategies from various sourcesIn an every phase of research work it is important to implement a proper data collectionplan. It will be more helpful in order to find out the right direction of the research in order toattain the objectives those are set in that context. Under this research project different aspects ofcustomers responses and there experience are observed. So that management of Balti palacerestaurant would be able to know attitude and thought of customers towards there restaurant. Itseems to be huge tasks for researcher to analyse their reactions by organising a research. Itconsists of multiple questionnaire that would be asked from number of customer those arevisiting regularly to that particular restaurant. All these shorts of evaluation is done in order toknow the impact of research on individual customers as well as the productivity of the restaurant.The main sources of data collection consists of interviews, personal observations and fillingquestionnaire from various number of customers. Location of the research work cover those areas where the maximum number of customersvisited to Balti palace. Some branches of Balti palace restaurant are as:DENBYBARNSLEYWOLVERHAMPTONWOMB_WELL1
The main target of the research would focused the young generation customers those arespending more time in that restaurant.The overall time duration required to complete this research project is around 5 weeks. It isenough time to get more accurate and reliable outcomes in terms of customers suggestions andfeedbacks.Funds are more crucial aspects of any research program without the adequate amount of fund itcan be completed. So for this research work it will required lump-sum amount of 5000 pounds inorder to hire skilled and experience people those are appointed for this particular research work(Wu and Pagell, 2011).In this research work the methods for data collection comprises of questionnaire and interviews.These two of the basic methods use under this project because it will provide more positiveresults in quick time. Sampling is done according to the selected group which are more effective in research works.The maximum number of sample used under this work is 60 that comprises of customers andhotel receptionist and public relation offices and manager. The most effective data collectionmethods use under this research was qualitative because, one of the types of techniques uses aspersonal interviews and questionnaire.Both the major sources of data collections are used simultaneously. Such as primary sourceswhich are use for the first time in the form of asking questionnaire from the various customers.While, secondary sources are used to compare the data through graphs and charts.1.2 Research methods considered under the project Under this research work it has been found that positive results are only achieved throughapplying appropriate methodologies. Because, it has been studied that it is kind of journey tosearch new data regarding performance of restaurants from the past year few year (Vercellis,2011). It will help to maximise the state of mind among researcher to find sometimes that is notrecognised by them in earlier times. The best ways to analyse all those changes are fromquestions and numerical data which are related to be more valuable assets to the company. Itconsist of hypothetical can functional information collected from the studies. Most if the researchare identified through the types of research techniques used by the concern persons. The differenttypes of research are:2
Descriptive research: It refers to be the combination of all facts and figures which arerelated with the attitudes and behaviours of the customers those are visiting Balti palacerestaurants. It simple means that simple characteristic of a selected team those are associatedwith the group that are present under the project.Qualitative research: It is said to be that survey which is related with the in-depth study ofthe selected problems that are present under the research project (Tzeng and Huang, 2011). Inorder to get complete new and positive information from the chosen group this methods is moreeffective.Under this research process the researcher do have the option to select either of the two optionwhich are more appropriated:Face to face interviews: Under this process, both the parties interact face to face andexchange the necessary information regarding their experience about balti Palace.Accented group interaction: The total number of the group is divided into varioussegments and from those a particular group is selected fro the research project. The other aspect of the research work is based on questionnaire which is said to be acombination of multiple questions with are having a different types of options to answer thosequestions. It summarised as several aspects of Balti palace restaurant services and facilities thatare combined with food, quality, services and other environment those are offered to itscustomers.The sampling framework taken under this research are: Cluster sampling: In this sampling, a small unit of group is categories into differentsegment from the total populations.Random sampling: It refers as that techniques which are based on statistical base as thecollected data from the groups in which each groups have equal possibilities to be chosenthe research works.Quota sampling: It is called as, representative data which are selected from groups ofcustomer. It is opposite of random sampling as because the most representative values arebeing chosen.From the above explained sampling designed under this research work, the most suitableone of random sampling as the total data is collected after dividing each units into a commongroup (Sosna, Trevinyo-Rodríguez and Velamuri, 2010).3
1.3: Questionnaire frameworkIn the research process, questionnaires is the major aspects that need to be taken intoconsideration by the concern persons. It consist of a set of question with are having multiplechoice options to answers. It is required with in order to fill the objectives to reach out to aconclusion from the research. There are various types of questions techniques which are usedunder this process. Some of them are: Nominal – Polytomous: Under, these set of questions respondents have more than two option toanswer the questions of their choice. Dichotomous: In these, situation only two options are possible provided to answer.The main purpose of this research is to frame a questionnaire such a way that it wouldhelp the customers to express their views regarding the services and quality of Balti palace.QUESTIONNAIRE FRAMEWORK BALTI PALCE RESTAURANTPersonal information:Gender: MALE [] FEMALE []Age: Line of work: Student [] Profession [] Businessman [] Housewife []Q1. How may times you visited Balti palace restaurant?a) Once in a weekb) Twice in a weekc) Dailyd) Once in a MonthQ2. From whom do you came to know about this restaurant?a) Friendsb) Newspapersc) Newspapersd) OnlineQ3. Which age group so you belongs to?a) Below 18[] b) 25-30 [] 4
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