Business Decision Making: A Case Study of Kitchen Designs Ltd

This report examines the decision-making process of Kitchen Designs Ltd as they consider diversifying into the bathroom market. It explores data collection methods, analyzes sales data using statistical techniques, and evaluates potential investment opportunities using NPV and IRR. The report provides recommendations for the company's future strategy.

BUSINESS DECISION MAKING

TABLE OF CONTENTS
INTRODUCTION................................................................................................................................1
TASK 1.................................................................................................................................................2
1.1 Create plan for collection of primary and secondary data specifying the type of primary and
secondary data that can help Kitchen Design Ltd diversify into the Bathroom market category....2
2 Present the survey methodology and sampling frame you will use to carry out the research.......3
1.3 design the questionnaire for collecting the information.............................................................4
TASK 2.................................................................................................................................................7
2.1 Summarize 12 months data with excel using representative value and explain in general terms
what these values measure...............................................................................................................7
2.2 Analyze the results of Task 2.1 and draw valid conclusions for the management of Kitchen
Designs Ltd.......................................................................................................................................7
2.3 Using MS excel analyze the data in Table 1 above with measures of dispersion (Range, Inter-
quartile range, and Standard Deviation) to inform the management of Kitchen Designs Ltd.........8
2.4 Explain how you can use quartiles, percentiles and the correlation coefficient to draw useful
conclusions.......................................................................................................................................9
TASK 3...............................................................................................................................................10
3.1 Produce graphs as appropriate and draw conclusions to aid decision making.........................10
3.2 Using MS excel, for each of the 4 product classes in Table 2 above, create a scatter graph
with trend lines; use these four trend lines forecast sales for the following year...........................12
3.3 prepare a PowerPoint business presentation to disseminate information relevant to the board
of Kitchen Designs Ltd...................................................................................................................15
3.4 Produce the formal report.........................................................................................................16
TASK 4...............................................................................................................................................18
4.1 Explain how information processing tools can be used to manage the inventory effectively. 18
4.2 Prepare a project plan for the given project activity and determine the critical path...............18
4.3 using the investment appraisal tools of NPV & IRR, propose better MIS investment
alternative to Kitchen design Ltd...................................................................................................21
CONCLUSION..................................................................................................................................25

REFERENCES...................................................................................................................................26

LIST OF FIGURES
Figure 1: Calculation of quartiles, percentiles and the correlation coefficient....................................9
Figure 2: Sales of Victorian................................................................................................................10
Figure 3: Sales of Budget...................................................................................................................11
Figure 4: Sales of Wet room...............................................................................................................11
Figure 5: Sales of Sauna.....................................................................................................................12
Figure 6: Scatter diagram for the Victorian product..........................................................................12
Figure 7: Scatter diagram for Wet-room............................................................................................13
Figure 8: Scatter diagram for Budget.................................................................................................13
Figure 9: Scatter diagram for Sauna...................................................................................................14
Figure 10: Scatter diagram for overall products.................................................................................14
Figure 11: Network diagram..............................................................................................................20
Figure 12: Formula for IRR................................................................................................................24

LIST OF TABLES
Table 1: Action plan.............................................................................................................................2
Table 2: Gantt chart..............................................................................................................................3
Table 3: Critical path calculation.......................................................................................................20
Table 4: NPV calculation for project A..............................................................................................21
Table 5: Calculation for NPV for Project B.......................................................................................22

INTRODUCTION
Business decision making is the important function in management operations. It is generally said
that a good decision making power can make the organization successful at new heights and one
wrong decision puts the organization is difficult circumstances. An effective decision making is
necessary and must be based on relevant information. In the current study, the business decision
making relates to the exploration or diversification to the newer business from kitchen design
products to bathroom designs for Kitchen Designs Ltd. Therefore to make decision in this regard a
study will be carried out covering practical aspects as well.
In the current study, the report will cover the variety of sources for collection of data from both
primary and secondary sources along with preparing the questionnaire set for customers. It will also
assess the range of techniques for analyzing the data effectively for business purpose with using
statistical calculations. The report will formulate the information in appropriate formats for decision
making of Kitchen Designs Ltd with using suitable presentation and graphs. At last the study will
cover the software generated information to make the decision for managing inventory a long with
reflecting financial tools and critical path analysis for both the projects.
1

TASK 1
1.1 Create plan for collection of primary and secondary data specifying the type of primary and
secondary data that can help Kitchen Design Ltd diversify into the Bathroom market category
For making crucial decision making correct analysis of current circumstances and internal and
external environment analysis is important. For analysis of internal and external surroundings,
information has to be gathered by market research and using the sources like survey. For the report
preparation, adequate information is needed. The data must be latest as well useful for suitable
making of decisions (Kerzner, 2013). Further for making the decision, survey is the useful
procedure of collecting data from primary medium. In respect of carrying out the activities easily,
action plan must be laid down. Action plan should be managed to finish the activities on time
with effective monitoring must be done.
Action plan is given below:-
Table 1: Action plan
S.No. Activities Starting date Finishing date Duration (in days)
1. Questionnaire
designing
04 April 2018 30 April 2018 27
2. Technique for
sampling and other
information
1 May 2018 20 May 2018 20
3. Target the audience
and meet the
approvals
21 May 2018 07 June 2018 17
4. Distribution of
questionnaire and
collection
05 July 2018 18 July 2018 14
5. Data Analysis 19 July 2018 04 August 2018 17
6. Preparation of
report
05 August 2018 18 August 2018 14
7. Reading with the
proof and report
correction
19 August 2018 04 September 2018 24
8. Submission 05 September 2018 13 September 2018 9
2

Gantt chart of the action plan
Table 2: Gantt chart
Activities/
Time
April May June July August September
Questionnaire
designing
Technique for
sampling and
other
information
Target the
audience and
meet the
approvals
Distribution of
questionnaire
and collection
Data Analysis
Preparation of
report
Reading with
the proof and
report
correction
Submission
2 Present the survey methodology and sampling frame you will use to carry out the research
Survey methodology relates to the study in context with the individual unit of sampling from the
wide population. For getting effective feedbacks and correct information data collection technique
such as questionnaire is applied. The main approach sampling frame is used through which samples
can be collected. Sampling frame is the information set which is applied to determine the sample
from the population for statistical treatment. Thus while carrying out the survey; sampling frame of
40 customers’ has been taken.
Some of the steps that are needed to be followed in sampling frame are as follows:-
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Collection of data or information: for decision making for diversifying the business into the
bathroom market information is needed to be gathered. For gathering information through primary
medium survey method and sampling frame is been applied.
Target the audience: in order to get the data and information, the customers from every segment is
collected.
Sampling approach: for getting the sample, random sampling is to be used as it is less time
consuming and simple to use.
Sample size: it is the size of the sample from which questionnaire are filled. In the current scenario,
the sample size is 40 customers that means 40 are the targeted from different segments in respect of
collecting the information.
Sampling: after collection of data random sampling is applied to have the analysis on the collected
information.
1.3 design the questionnaire for collecting the information
Questionnaire is the question set that is prepared to gather the information. With the support of
questionnaire primary information get collected as the information is directly gathered from the
customers or targeted audience. The below questionnaire is used to gather the information:
Customer Satisfaction Questionnaire
Purpose: as the assessment part, the investigator will collect the information to carry out the
customer satisfaction and further the report will be reflected to Quality Assurance Agency (QAA).
Respondent’s instructions
 Please fill all the questions and provide correct brief information
 Please follow all the guidance and tick only one option where it is needed to do so
 The information will kept secure and confidential as the survey is taken to explore new
business opportunities and decision making (Cassidy, 2016).
 Obliged to complete the survey
General details
1. Gender
 Male
 Female
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 Others
2. age of respondents
 18-25
 26-35
 36-45
 46-55
 Above 55
3. ethnicity of individuals
 Asian
 African
 European
 Others
Part A
1. How frequently did you purchase the product of Kitchen Design Ltd?
 Often
 Rarely
2. Are you satisfied with the product of Kitchen Design Ltd?
 Satisfied
 Strongly satisfied
 Dissatisfied
 Strongly dissatisfied
3. Are you satisfied with the price of the product of Kitchen designs Ltd?
 Satisfied
 Strongly satisfied
 Dissatisfied
 Strongly dissatisfied
4. Which mode of medium did you prefer generally for the product order?
 Online store
 Physical store
5. Are you satisfied with the quality of the product of the organization?
 Satisfied
 Strongly satisfied
 Dissatisfied
 Strongly dissatisfied
5

6. Did you like the customer service of our organization?
 Yes
 No
7. Did you like our new products of bathroom designs and equipment?
 Yes
 No
8. Is there is requirement of any changes in the new product in terms of the following?
 Pricing
 Quality
 Designing
 Any other
9. Is the product is of essential requirement in the business and household?
 Yes
 No
10. Please give your feedback to make improvements?
6

TASK 2
2.1 Summarize 12 months data with excel using representative value and explain in general terms
what these values measure?
Data gathered through survey and investigation related to the customer experience for the Kitchen
Design Limited will be shown in the systematic manner by application of central tendency. Central
tendency measure includes mean, median and mode. These measures are supportive in getting the
results related to the entire experience from the kitchen and bathroom products from the
organization.
The survey is carried out on 40 customers and their answers are gathered in both form percentage
and number that will take place in use of mean, mode and median. The information so measured is
given below:
Mean: Mean is the average calculation and the summarize form of the data so collected. The result
reflect that the organization offer both the products to every types of customers and help them to
fulfill their demands (Smith and Firth, 2011). Customers are satisfied from the product of the
organization. Thus greater value of mean reflects higher positive experience towards the product of
Kitchen Design Limited but regular revision must be done timely.
Median: Median is applied to measure the mid value of the frequency given in the information.
Sometimes median is also functioned as mean and after median analysis, it is determined that the
customers are satisfied with the products offered by the organization. Organization has the potential
to provide all types of products to the customers on the basis of the age and source of income.
Mode: Mode is applied to measure the greater frequency in the data. It has been assessed that many
customers are influenced and used the products of the organization for longer period of time
(García-Peñalvo and Conde, 2014). And the same is offered by the Kitchen Design Ltd so the
customers did not have problems related to the same.
2.2 Analyze the results of Task 2.1 and draw valid conclusions for the management of Kitchen
Designs Ltd
From the excel tables and charts, it is clear that the organization has not achieved a good number of
sales in the starting months of the year and same impact was seen at the end of the year in term of
the country. However, there was a good sale in between the year which has helped the organization
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to balance the revenue and profit. In up and downs of the months to make the revenue, the average
sale for per month in the year is equal to the 191.67 thousand pounds.
The median values of the Country can be calculated with the help of sorting of the sales in the
months. Median of the series can be calculated as the median number of the sorted series which
might be odd or even, it depends on the counting of the numbers. For example, Country has median
as 175 thousand pounds. The information can be used by the organization to determine the growth
within the defined series so that potentials and their use can be determined to maximize the
performance and productivity.
In same manner, mode of the series in Country is 90 which is the lowest value in the series. It is
useful to determine the risks and scopes for the business to expand the services. Management of the
organization can conclude that the sales of the Country are not static and varying with time.
Therefore, there is need of improvements.
In comparison of the Country, minimalist has effective sales. Average or mean value of the sale is
353 thousand pound which is approximately double of the mean value of the Country. Also median
and mode are equal to the 350 those are much larger and improved for Minimalist. It can be
concluded that overall sales and profit of the Minimalist is greater and stable in comparison of the
Country.
2.3 Using MS excel analyze the data in Table 1 above with measures of dispersion (Range, Inter-
quartile range, and Standard Deviation) to inform the management of Kitchen Designs Ltd
The organization can use various functions on the sales record to understand the capabilities to meet
the competitive benefits. Following are some of the functions those are applied on the data set to
help the management:
Range: Excel’s range functions are used to determine the lowest and highest value from the range
(Stine and Foster, 2017). For example, minimum value from the range is 80.00 for country which
was determined in February month. Also minimum value for the minimalist is 300 occurred in the
September. It means that, it is the last values those can be occurred if the organization follows the
same processes for the operations. Also MAX function is used to determine the highest values of
the sales those are occurred in the organization within the year.
Inter-quartile range: The function is used on the series to determine the potential value in the first
quarter of the year. It means it divide the sales in the order of four months and then calculate the
average of the months in that quartile. For example, first quartile for the Country is 120.00 whereas
for minimalist it is 317.50. It means that the organization has effective revenue in the first quartile.
8

In same manner, values for the other quartile can be calculated to support the business decision
making process.
Standard deviation: it is used to understand the up and downs in the values during the year. If the
standard deviation is high then the organization has less stable operations. Lower standard deviation
is required to stable the outcomes. Standard deviation is 88.30 and 44.79 for country and minimalist
respectively.
2.4 Explain how you can use quartiles, percentiles and the correlation coefficient to draw useful
conclusions
Figure 1: Calculation of quartiles, percentiles and the correlation coefficient
Quartile, percentile and correlation coefficient are useful in determining the relation with the
frequencies:
Quartile: Quartile is same as range as it also calculates the deviation but it provides more particular
outcome than range. The reason for this is because it categorizes the information into four equal
divisions and measures the variances from the same. Quartile divides the information and
introduces the connection with each other. It is also applied for putting the standards and
determines the improvement areas so that decisions can be made by the management.
9

Percentile: Percentile is used to categorize an ordered data in percentage form. It means
distributing the information into equal parts of 100 and determines the deviation in the same.
Performance level is measured using percentile (Kerzner, 2013). Excellent performance will show
high percentage and low performance reflects the needs of improvement on which decisions are
required to be made. These measure offers more specific and depth information that supports in
conclusions made.
TASK 3
3.1 Produce graphs as appropriate and draw conclusions to aid decision making
Figure 2: Sales of Victorian
For product Victorian: As per the analysis of the graph, the sales of the Victorian product have
been raised from 2012 to 2015. The reason can be that the customers are greatly satisfied with the
quality, pricing and services of the product. This also supports in raising the overall market share of
the organization and to remain competitive.
10

Figure 3: Sales of Budget
For product Budget: According to this analysis as well, the product budget sales is also enhancing
i.e. from £6M to £7M till 2015. The organization will also be benefitted as their revenue increase
and they would also have consistent cash flows.
Figure 4: Sales of Wet room
For product wet room: As per the interpretation through the graph, the sales of wetroom are
lowered down with the passage of time. In 2012, the sales were £2.5M that falls to £2M till 2015
and the reason is because as per the market survey, the customer’s did not felt the use of this
product but it majorly impacts the industry running it. Thus, Kitchen Design Ltd should accordingly
make the decisions.
11

Figure 5: Sales of Sauna
For product Sauna: According to the evaluation of the graph, this product sale is also reducing with
the passing up of time. It can be interpreted that the industry customer are reducing in this segment
and the reason is that new competitive products are introduced with lower prices and quality
efficient.
3.2 Using MS excel, for each of the 4 product classes in Table 2 above, create a scatter graph with
trend lines; use these four trend lines forecast sales for the following year
With the help of the scatter graphs in the Excel, following diagrams are created for the products.
From the diagram of the Victorian, it is clear that sales of the product are increasing in each day. It
can be forecasted that the organization will continue to receive high sales in the upcoming years.
Therefore the next years might have the sales near to 6 thousand pounds. The information can be
used to plan the strategic decisions in the organization.
Figure 6: Scatter diagram for the Victorian product
12

However the sales of the Wet-room are decreasing from previous four years. Therefore, it can be
forecasted that the organization might receive the lower values of the sales in the upcoming years if
there is no strategic plan to improve the current sales. The next years can result in the form of the
loss or lower sales in comparison of the present year. Therefore, the organization can improve the
sales through planning or manage the resources according to expected sales.
Figure 7: Scatter diagram for Wet-room
The budget is increased in comparison of the previous years. However, there was less increase in
comparison of the just previous year. Therefore, the organization can achieve high budget values
with the use of the strategies and approaches used during the year 2012 and 2013. Overall budget is
expected to increase so that sustainable approaches should be used to reduce the cost on the
operations.
Figure 8: Scatter diagram for Budget
The sales and values of the Sauna are also decreasing over the time. The organization has to make
the sustainable changes in the operations to achieve the desired profitability. The organization has
to arrange the resources and capabilities to enhance the sales of the product in the upcoming years.
13

Figure 9: Scatter diagram for Sauna
Figure 10: Scatter diagram for overall products
14

3.3 prepare a PowerPoint business presentation to disseminate information relevant to the board of
Kitchen Designs Ltd
15

As per the analysis, it is been assessed that the sales of Victorian and budget is increasing while the
other two products is decreasing. Thus it can be interpreted that the future sales will also rise for the
product of Victorian and Budget.
3.4 Produce the formal report
Introduction: It is standard report that is shown to the QAA committee together with the
presentation. The presentation will show the outcomes which can be evaluated usefully. The report
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includes the summary of the major findings which is gained from the research undertaken by the
organization from customers. This report supports QAA committee in decision making related to
the product quality offered by the organization to the customers.
Purpose and limitations: The objective of formulation of this report is to show the information
related to the real experience the customer’s faces so that committee can make the decisions related
to the improvement needed (Gong et.al. 2018). Time of gathering the customers experience is the
most crucial limiting factor as the market is very large and it takes more time to research every
section with covering each and every aspect of the industry.
Content: The presentation reflects that the management is interested and offers the relevant
information according to the demand and customer feasibility. The management is helpful and they
involve customers for making important decisions. The organization also formulates the resources
needed so that better products at the customer end can be served. Overall customers have better
experience from the products and services of Kitchen Designs Ltd.
Summary and recommendations: It is suggested Kitchen Design Ltd must carry out the feedback
regularly from the customers and meet the needs of the customers which are dissatisfied with the
products of the organization (Zsambok and Klein, 2014). The special focus must be on the
management and internal issues as well of the Kitchen Designs Ltd.
17

TASK 4
4.1 Explain how information processing tools can be used to manage the inventory effectively
Information processing tools are applied at every level of management to give the conceptual
planning. These tools are applied to increase the problem solving capabilities by offering
unstructured and structured information at inventory level of management as well. These
information processing tools are useful in making the decisions. The main function of this technique
is data processing and shown it in such way that builds its user value. The organization uses the
information given by the computer based system software in respect of formulating plans,
processes, laws and regulations that increases the decision making value at inventory and
operational level.
Different types of information processing tools that supports in managing inventory are as follows:-
Decision support system: These information systems are entirely based on computer that supports
the managers in creating the useful plans for the hired employees that manages the inventory
(Power et.al. 2015). The systems support the managers in creating the plans, strategies and
processes that helps the inventory department effectively.
Management support system: These are the information offered to the managers with the
computer that are to be used in formulating regular decisions at all levels of management.
Management information system is applied by the middle level manager that includes inventory
department as well for collecting structured and semi-structured data.
Specialized processing system: The collection of data in systematic manner is very much essential
to make the effective decision. Therefore to remove the complex procedure the new software is
created called as specialized processing software that will increase the efficiency at operational and
inventory level (Zsambok and Klein, 2014).
Executive support system: These systems are extensive and advanced form of DSS and MIS that
supports the manager in data conversion into digital form and formulating the different reports that
facilitates in achieving internal and external objectives that increases and supports the organization
to make and manage the inventory at all levels.
4.2 Prepare a project plan for the given project activity and determine the critical path
The below table will reflect and assess the duration and time required by project team member to
finish each activity
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Activity Predecessor Duration
1 - 6
2 1 3
3 - 2
4 1 5
5 3 5
6 3 5
7 2,4,5 6
8 7 4
9 7 4
10 6,7,8,9 3
11 10 3
19

Figure 11: Network diagram
Critical Path Method
Critical Path is the systematic activities that needs project completion. Critical path identifies
longest and shortest time period for project completion (Quinton et.al. 2017). It shall be considered
that any late in the activity impact the activities planned under the critical path analysis. The plan
will include all 11 activities and each activity will take maximum of 5-6 days to finish. The critical
path of the project plan is as under:
Calculation of critical path with the help of table
Table 3: Critical path calculation
S.N
.
Possible Paths Calculations Possible Durations
1. 0-1-2-7-8-10-11 6-3-6-4-3-3 25
2. 0-3-5-7-8-10-11 2-5-6-4-3-3 23
3. 0-1-4-7-8-10-11 6-5-6-4-3-3 27
4. 0-3-6-10-11 2-5-3-3 13
20

5. 0-3-5-7-9-10-11 6-5-6-4-3-3 23
6. 0-1-2-7-9-10-11 6-3-6-4-3-3 25
Critical path in the above diagram
The critical path is regarded as the longest route to finish the work and is also considered as hardest
route. Generally for finishing the thing, the shortest route is preferred and in the given case study,
the critical route is 27 days. So it is suggested to adopt the 4th route that consumes less time in
comparison with others i.e. 13 days.
Project plan duration
In the given case study, the critical path approach is regarded as the most complex path to finish the
activity. Therefore after evaluating the above table, it is shown that 27 days is the longest path
which the project will take to finish it but there are possibilities that the project can be finished in 13
days as well i.e. the shortest duration (Shaw and Sellers, 2015).
4.3 using the investment appraisal tools of NPV & IRR, propose better MIS investment alternative
to Kitchen design Ltd
NPV method
Net present value is the method used by the organization where cost of capital is given and
approved by the management. It is difference amount of present value of future cash inflows and
present value of cash outflow (Stine and Foster, 2017). Thus, this approach supports in offering the
comparison between the projects undertaken on the basis of profitability according to time
undertaken in project.
Amount of investment (A) = £.9m
Amount of investment (B) = £1.2m
For supplier A
Table 4: NPV calculation for project A
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Cash Flow P.V.Factor Present value of future
cash flow
(900) 0 (900)
250 0.909 250*0.909 = 227.25
300 0.826 300*0.826 = 247.8
350 0.751 350*0.751 = 262.85
375 0.683 375*0.683 = 256.125
400 0.594 400*0.594 = 237.6
Total present value of
future cash flow
1231.625
Net present value of
cash from investment
1231.625- 900 331.625
For supplier B
Table 5: Calculation for NPV for Project B
Cash Flow P.V.Factor Present value of future
cash flow
(1200) 0 (1200)
300 0.909 300*0.909 = 272.7
22

350 0.826 350*0.826 = 289.1
375 0.751 375*0.751 = 281.625
400 0.683 400*0.683 = 273.2
425 0.594 425*0.594 = 252.45
Total present value of
future cash flow
1369.075
Net present value of
cash from investment
1369.075- 1200 169.075
NPV = Present value of cash inflow – Present value of cash outflows
In the current project Net present value has been measured at 10% as per the formula. After 5 years
of the investment in case of supplier A organization will receive £1231.625 on investment of £900
while in case of supplier B organization will receive £1369.075 on investment of £1200. It is been
analyzed that the that in case A organization receives more cash inflows above investment of £900
that shows that project A has more potential in comparison with project B. Thus, A is more suitable
for making an investment.
IRR (internal rate of return)
The internal rate of return is the amount of percentage that the organization is receiving on each unit
of investment. It is situation at which present value of cash outflow is equal to present value of cash
inflow (Stine and Foster, 2017). This method take into account the time value of cash for the
amount invested. Time value of money supports in determining the return on investment which will
get in future.
23

Figure 12: Formula for IRR
For Supplier A IRR = 22.785%
For supplier B IRR = 15.400%
The IRR is used to calculate the organization profitability. If the organization do investment in
project A, it will receive approx 23% which is very good percentage as per the market circumstance
and in comparison with the project B. The IRR considered the money and time value invested by
the organization to ascertain the best option.
Thus, in the current case Kitchen Design Ltd should take the project A as both NPV and IRR is
positive in comparison with project B.
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CONCLUSION
In the current study, the report had taken the Kitchen Design Ltd case for making the decision on
the exploration of business towards bathroom designs. It had used the variety of sources for data
collection that includes both primary and secondary sources. The report had assessed the range of
techniques to analyze data effectively for business purposes along with information offered in
suitable formats for decision making. At the end, it had analyzed the software generated information
to make the decisions on the project undertaken.
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Kerzner, H., 2013, “Project management: a systems approach to planning, scheduling, and
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Power, D.J., Sharda, R. and Burstein, F., 2015. Decision support systems. John Wiley & Sons, Ltd.
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(2). pp. 5262. ISSN 13515578.
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