Business Analysis of Tesco Plc Assignment
Added on 2021-01-02
17 Pages4829 Words220 Views
BUSINESS ANALYSIS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1QUESTION 1..................................................................................................................................1A) Population...............................................................................................................................1B) Simple random sampling........................................................................................................2QUESTION 2..................................................................................................................................4A) Use of primary and secondary data........................................................................................4B) Qualitative method for gathering data....................................................................................2QUESTION 3..................................................................................................................................3A) median....................................................................................................................................3B) Standard deviation (STDEV)..................................................................................................3QUESTION 4..................................................................................................................................4Role of appropriate data in decision making process..................................................................4CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness analysis is considered as technique that supports organisation in investigatingabout their performance and implementing necessary changes effectively (Padilla and et.al.,2015). Present study is based on Tesco Plc, which is a multinational retail firm that operates itsbusiness across the world. Over a period of time, Tesco has made several modifications in itspractices to improve operational efficiency. In the year 2015, Tesco has been rewarded as theonly retailer in UK that offers products to consumers at reasonable prices. The currentassignment will explain terms with respect to population and simple random sampling.Furthermore, it will use primary and secondary data for business analysis. In addition, medianwith standard deviation calculations will be performed with reference to Tesco Plc. QUESTION 1A) PopulationTesco Plc is continuously working for improving quality of products and services. Its mainagenda is to increase satisfaction level of buyers and make them loyal towards the brand. Over aperiod of time, company has experienced decreasing sales issue, due to which overall revenueshave been declined. Increasing competition has created trouble for firm which has realised tomake changes in its practices so that it can sustain in the market for longer duration (Kandolaand et.al, 2014).Tesco treats its consumers well and always try to serve the best to shoppers. Recentlymanagement of company has identified that staff turnover is increasing. So, it wants to determinewhether providing flexible working hours would be worthwhile options or not to resolve thisturnover problem. Research population can be defined as large collection of individuals with commoncharacteristics. It is divided into two major categories: target and accessible. Target people is thegroup to whom Scholar wishes to involve in study to find out answers to problems. On the otherhand, accessible people are such individuals who are easily accessible to researcher (Orcher,2016). There is huge difference between sample and populace. As population is the set of peoplewho exist in universe whereas sample refers to data of people who are being involved ininvestigation to find out answers. 1
It is not possible for analyst to test each individual from population because it would betime consuming and expensive process thus, researcher selects specific group who can giveaccurate information about topic (Low and et.al., 2015). Present study is qualitative in nature that emphasis on gaining insights from fewparticipants (Quinlan and et.al., 2019). Phenomenology research approach explains that howindividuals are able to create value for study. In this methodology, scholar conducts investigationwith open mind. As in the present analysis, management can involve workforce to find out theirpoint of view about flexible working hours.B) Simple random samplingSampling can be defined as the most essential part of research to select right people for thestudy to gain in-depth details about subject. This would be better for analyst to find out whetherflexible working hours will be worthwhile decision for Tesco or not (Low and et.al., 2015). There are two main types of sampling methods that are used in research processes andbusiness analysis: probability and non probability. Probability methods are such tools in whicheach sample has high likelihood to be selected. Whereas, non-probability is the technique inwhich each sample does not get chance to be selected. Simple random samplingIt is a sampling technique that gives equal chance to every item in population of beingselected. It is basic in nature, where an analyst can apply it easily to generate valid results(Cheng and Phillips, 2014). Random selection is done by researcher from the entire population. As in the present business analysis, the management aims to find out actual impact offlexible working hours on company thus, it can select employees by using simple randomsampling technique. One of the main benefits of applying random sampling technique is that datacan be gathered and concluded in shorter duration. This is simple and cost saving procedure; analyst is not required to spend huge money forgathering information through simple random sampling tool. It is unbiased process and increaseinvolvement of respondents (Palinkas and et.al., 2015). Tesco Plc use simple random samplingmethod because by this way, analyst would be able to involve employees randomly. This willhelp in finding the best results that will support in knowing more about feelings, point of view ofworkers regarding flexible working hours. There are various methods through which analyst canselect respondents randomly. Initially scholar has to prepare list of all members and individual is2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Calculation of Mean Mode and Median : Statistics Assignmentlg...
|35
|5684
|57
Business Analysislg...
|14
|4550
|21
Business Analysis: Significance of Population and Sampling Techniqueslg...
|16
|4862
|313
Importance of Population and Sampling in Researchlg...
|17
|5195
|32
Impact of Social Media on Consumer Buying Behaviour: Tesco Supermarket, UKlg...
|11
|857
|84
Quantitative Methods for Business Alternativelg...
|9
|1606
|56