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Business report 6 Student Name: Lecturer: Business research report

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University of the Sunshine Coast Queensland Australia

   

Business Analytics and Statistics (BUS501)

   

Added on  2020-03-16

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Business report 6 Student Name: Student number: Lecturer: Business research report Table of contents ContentPage 1.0 Introduction................................................................3 2.0 Problem statement.............................................................3 3.0 Research questions............................................4 3.1 Top and worst performers....................................................4 3.2 Difference in payment methods ........................... ................5 3.3 Difference in sales performance ...........................................6 3.4 Difference in sales and gross profit........................................8 3.5 Test for correlation-sales and rain .....................................

Business report 6 Student Name: Lecturer: Business research report

   

University of the Sunshine Coast Queensland Australia

   

Business Analytics and Statistics (BUS501)

   Added on 2020-03-16

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Business report 1Student Name:Student number:Lecturer:Business research report
Business report 6 Student Name: Lecturer: Business research report_1
Business report 2Table of contentsContent Page 1.0 Introduction ................................................................32.0 Problem statement.............................................................33.0 Research questions............................................................43.1 Top and worst performers....................................................43.2 Difference in payment methods ........................... ................53.3 Difference in sales performance ...........................................63.4 Difference in sales and gross profit........................................83.5 Test for correlation-sales and rain ........................................133.6 Test for correlation-sales and gross profit ...............................133.7 Product category.............................................................144.0 Discussion and recommendation ..........................................155.0 Reference........................... ..........................................16
Business report 6 Student Name: Lecturer: Business research report_2
Business report 31.0 IntroductionDue to globalization, the world markets have joined to become one big market. This has led toripple effects to every country especially when there is a major interruption in the economies ofthe major super powers. This effect usually trickles down to other economies of the worldthereby affecting business operations. Just about a decade ago there was a major global inflationthat originated from the US that affected the world market. This scenario can be very threateningespecially to upcoming businesses in industries that are dominated by well establishedbusinesses. The small and new businesses have to grapple with high cost of production which inturn has led to very narrow profit margins and sometimes loses. Many companies for this reasonhave reverted to focusing most of their resources to sales and marketing so as to beat thechallenge in the market.2.0 Statement of the problemIt is evident that for any business to prosper then it must be commanding a substantial customerbase. It is the large customer base that will provide market for the goods produced. This leads tohigh sales hence high profit margins. If the profit margins are narrow then the operations of thebusiness is bound to face a lot of challenges. To solve the problem, business organizationsshould focus on creating a lot of leads which will in turn opportunities thereafter. They can dothis by aggressively conducting market campaigns and advertising. High cost of goods which isalso another problem that businesses are faced with can be solved by creating a basis for highsales thus the problem will automatically be solved by economies of large scale in terms ofprofits that will be realized. Harvest Kitchen is a business organization that has been dealing withfruits and vegetables. It is not a unique business as it has been experiencing problems in sales
Business report 6 Student Name: Lecturer: Business research report_3
Business report 4due to low close on leads and high cost of goods. For this reason, it decided to conduct analysison several of its operations in a bid to come up with results that will provide insights on wherethey need to rectify to put back Harvest Kitchen back on track.3.0 Research questionsThe following were the main research questions for the report;Which are the best and poorly performing types of products as far as sales levels areconcerned? Is there a significant difference in payment methods? Is there a significant difference in sales of products at different locations in the shop?Does this affect profits and revenues? In which way? Is there a difference in sales and gross profits between different months of the year?Are their differences in sales performance between different seasons? How does this relate to rainfall and profits?
Business report 6 Student Name: Lecturer: Business research report_4

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