Business Decision Making

This presentation explores the importance of decision making in organizations and discusses primary research approaches. It also provides key findings and recommendations for effective business decision making.

Business decision making

Table of Content
 Introduction
 Primary research
 Primary research approaches
 Data analysis
 Secondary research
 Key findings
 Recommendations
 Conclusion

Introduction
Decision making in the organization is an important aspect of
democratic management. Essentially, the primary role of
management is taking fair or sound decision-making. Any
manager unconsciously or actively takes hundreds and
hundreds of decisions making it the main element of a
manager's position. Decisions play a major part in deciding
both the corporate and administrative operations.

Primary research
Primary evidence is information gathered by researchers from
the very first time. It includes methods such as surveys,
interviews, and tests (Acharya And et.al., 2018). It is
obtained directly from primary sources with each site's key
goal being considered. As accuracy of findings is the key
benefit of this approach and at the same times it is costly and
time consuming to gather data through primary sources.

Primary research approches
 Questionnaire approach: It is probably the most apparent
method of obtaining data, comprised of a collection of
research-related questions.
 Interview approach: This is the most widely practiced
methods for primary data research in which the researcher
asks the respondents appropriate question either verbally or
by letter in order to obtain information about the topic being
studied.

Data Analysis
Q1. In what age group you belong?
a) 15-25 20
b) 26-40 8
c) 41-70 22

Q2. What is your gender?
a) Male 30
b) Female 15
c) Other 5

Q3. What is your qualification
level?
a) Primary 32
b) Secondary 8
c) University 10

Q4 Approx income for a month (GBP)?
a) 700-1000 31
b) 1500-3000 11
c) 4000-5000 8

Q5 Actual spending for a month (GBP)?
a) 100-150 10
b) 200-300 25
c) 400-500 15

Q6. Is location is essential element to consider at the
time of introducing new store for Lidl?
a) Strongly agree 30
b) Agree 10
c) Disagree 10

Q7. Prices of products offered by
Lidl are reasonable?
a) Strongly agree 20
b) Agree 20
c) Disagree 10

Q8. Company offer any special
discounts on seasons?
a) Strongly agree 15
b) Agree 25
c) Disagree 10

Q9. Does Lidl have huge product range?
a) Strongly agree 25
b) Agree 12
c) Disagree 13

Q10) Is there proper convenience
facilities to reach store?
a) Strongly agree 34
b) Agree 10
c) Disagree 6

Secondary data and analysis

Key findings
This has been calculated from the following primary
data that, the consumer values the quality and products
of Lidl provide (Tseng, Chiu and Liang, 2018). This is
also known that consumers want to eat a range of food
products to please them and help companies gain a
competitive edge.

Recommendation
As the study suggests, Lidl has a strong role within the
UK industry and ESSENTIAL Ltd is executing the
company's growth plan for the particular store and
opening new discount supermarket. They using low-
priced products and services to sell, which help
consumers feel more comfortable relative to other
businesses.

CONCLUSION
From the above observation, it has been concluded that
business decision making appears to be an essential
mechanism which makes it possible for the
organization to make useful plans while facing difficult
situations and to effectively carry out business
operations to achieve business objectives.

REFERENCES
 Baker, A. J., 2018. Business decision making.
Routledge.
 Black, K., 2019. Business statistics: for contemporary
decision making. John Wiley & Sons.

Thank You