Business Decision Making : Assignment Solution

Added on - 07 Jan 2020

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BUSINESS DECISIONMAKING
INTRODUCTIONBusiness complexities can be managed by taking right action at right time in order tosafeguard its business from its overall negative impact. This project is about designing a productfor tour and travel operator whose desire aim is to cater variety of needs and expectation ofvarious customers. This project report classified into four parts such as creating data collectionplan using bot primary and secondary method. Second part states about evaluating statisticalefficiency of the data and third part is all about presenting data and lastly it tells regardingchecking feasibility using capital budgeting tools and techniques, critical path of project andsupplying information using appropriate information processing tools.TASK 11.1 Identify sources of primary and secondary sources of dataResearch will be conducted by an entity in order to resolve al the issues faced y anindividual as solutions to all the problems will produce by conducting a particular research study.The major objective of the researcher is to emphasize on various aspects covered in theirbusiness in order to satisfy various customers exists in the external market as their desired aim isto get higher customer satisfaction level (Brooks, Dula and Boone, 2013). The research can beconducted collecting data from two particular approach such as primary and secondary collectionof data that helps an entity to support their overall research with good conclusion.Primary collection of data-In this approach data will be taken from its original source toremain its reliable and accuracy to support an entity in resolving all the current issues faced bythe researcher. Questionnaires are used to evaluate all the problems currently faced by customerswhich will help in designing appropriate products according to the needs and the expectations ofvarious customers.Questionnaires are created by the researcher about different tour companiessuch as existing data of Thomas cook will be assessed in relation to the tastes and preferences ofall the customers. Thomas Cook data will be analyzed in order to craft new strategies in order toimprove the existing performance of an entity.Secondary collection of data-In this method data can be generated from the external sourceusing books and journals, new articles and magazines to generate reliable sources of data toaccomplish all the objectives of an entity.
1.2 Present survey methodologyResearch methodologies are used by an entity that helps in generating higher businessperformance by focusing on its weaknesses which helps in collecting important data (Golbraikhand et.al., 2014). Sampling is one of the important method used by an entity that helps inselecting import data in order to facilitate the researcher in obtaining reliable data.Random sampling method used by the researcher to select the best suitable data which will helpan entity owner in generating reliable data. The accuracy o the data is regarded as the directweapon by the business as it is important for an entity in order to grab higher marketopportunities. In the current sampling process 90 respondents are chosen by the business to taketheir opinion or consent about the outbound tourism that helps in generating higher outcomes forthe current business enterprise (Haq, Brown and Moltchanova, 2014). Major outcome of anentity is to grab higher opportunities by enhancing overall skills and the capabilities of anindividual as it is essential approach followed by an entity. Random sampling gives equalenhance to an individual to get selected in the process of sampling to provide ultimate benefit tothe researcher in generating higher outcomes in the near future.1.3 Design questionnaireQuestionnaireName _______________GenderMaleFemaleTransgenderQue. 1. How old are you?20-30 years old30-40 years old40-60 years old
60 years and aboveQue. 2: Do you think tour operator will be able to meet with your satisfaction level by providingtour products ?Strongly disagreeDisagreeNeutralAgreeStrongly agreeQue. 3: How often you are purchasing a tour package within one year ?MonthlyQuarterlyHalf yearlyYearlySometimesQue. 4: You will buy a tour package or product for destination A such as Morocco in furtheryears ?Strongly disagreeDisagreeNeutralAgreeStrongly agreeQue. 5. How much you are going to pay for tour package or product for every person or travelerfor the destination A like as Morocco ?
£600 but less than 625£625 but less than 650£650 but less than 675£675 but less than 700£700 but less than 725Que. 6. You will buy a tour package or product for destination B such as Turkey in upcomingyears ?Strongly disagreeDisagreeNeutralAgreeStrongly agreeQue. 7: How much you will spend on the ravel package for the destination B like as Turkey ?£600 but less than 625£625 but less than 650£650 but less than 675£675 but less than 700£700 but less than 725Que. 8: Are you going to buy package for Cuba destination in upcoming years ?Strongly disagreeDisagreeNeutralAgree
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