Business Decision Making: A Comprehensive Analysis of Multi-Channel Shopping Impact on Retail

Business decision making
1

Table of Contents
Introduction......................................................................................................................................4
Task 1...............................................................................................................................................5
a) Create a plan for data collection..............................................................................................5
b) Present the survey methodology and sampling frame used....................................................6
c) Design a questionnaire for collecting the data.........................................................................7
Task 2...............................................................................................................................................9
a) Summarize the data collected from the survey using representative values (arithmetic mean,
median and mode)........................................................................................................................9
b) Analyse the results of the survey and draw conclusions.......................................................12
c) Analyse the data using measures of dispersion.....................................................................12
d) Explain the data with the help of quartile, percentile and the correlation coefficient to draw
useful conclusions......................................................................................................................14
Task 3.............................................................................................................................................15
a) With the help of spreadsheets produce graphs to help draw valid conclusions from the
survey.........................................................................................................................................15
b) Create trend lines to show the impact over a minimum of 3 years.......................................19
c) Prepare a poster presentation of research findings................................................................20
d) Write a formal report for publication in the Retail Times magazine....................................21
Task 4.............................................................................................................................................22
a) How do the following systems serve the various levels of management in a business? You
are to describe their characteristics and the roles they play in a business.................................22
b) Draw a network diagram and find the critical path...............................................................22
c) Use of financial tools in decision making.............................................................................23
Conclusion.....................................................................................................................................25
References......................................................................................................................................26
2

Introduction:
In the business, there are various decisions which are required to be made and it is required that
decisions must be made by taking into consideration all of the aspects. There will be research
which will be made so that the proper results can be identified and then they can be used in the
decision making. The report will be consisting of all the elements which are to be noted ion the
business. The survey will be carried out so that the views of all can be attained and information
can be collected in an appropriate manner. Various calculations will be made and in them, the
measures of central tendency and dispersion will be used. There will be poster which will be
prepared and in that all of the findings will be included. The investment appraisal techniques will
be used and with the help of that, all of the projects will be evaluated.
3

Task 1:
a) Create a plan for data collection.
In the environment, there are various changes which are taking place such as due to the
multichannel shopping the high street shops and malls are getting affected. For this proper
research will be carried out so that the impact of this can be identified. For that data will have to
be collected with the help of the various methods so that the views of the consumers can be
ascertained. This will be carried with the help of the plan which will be formulated. In the given
case there will be survey which will be performed with the help of the 100 people and the results
will be obtained in respect of five weeks (Akhtar, et. al., 2016). There are various sources which
can be used and they involve primary and secondary sources. In the given case the questionnaire
will be used with the help of which all of the preferences will be determined.
Primary sources: The sources by which the information will be collected directly will be
considered under this and there will be no intermediate party which will be involved in it. There
are various forms in which this can be done and they include questionnaire which is the
document in which several questions are framed and then they are provided to the respondent so
that their responses can be collected. In addition to this interview can also be used as in that
direct contact will be established and the chances of information being incorrect or modified will
be eliminated.
4

b) Present the survey methodology and sampling frame used.
In the process of research, there is the need to follow various strategies and techniques so that the
appropriate finding can be made and they all are known as research methodologies. The
company can collect the information with the help of various means and one of them is survey
which will be used by the business. The data which is collected by that is accurate and reliable as
there will be personal contact which will be made under it. There will be the results which will
be attained and with the help of them the views will be identified and then they will be
interpreted in an appropriate manner so that bets decisions can be taken with the help of it
(Patten, 2016). This will help in the attainment of the goals which are set and the further
improvement can be made.
In the process of the survey it will not be possible to consider all of the people and for that, there
is the need to use only a portion and that will be known as the sample. This will have to be
selected by the business and for that various methods are there and they are simple random
sampling, quota sampling, and stratified sampling (Palinkas, et. al., 2015). The company will
have to choose the best among them so that they can perform the survey in a proper manner and
the same in the given case will be random sampling. As that is simple and easy to use by all.
5

c) Design a questionnaire for collecting the data.
The retailers and shopping malls are getting affected by the multi-channel shopping. For the
identification of this the questionnaire will be used and that is to be prepared and the same is
provided below:
Questionnaire:
Name:
Gender A. Male B. Female
Age
A. under 18 years
B. 18 - 30 years
C. above 30 years
Q. Which mode of shopping is used by you?
A. Online
B. Offline
Q. Do you go shopping in malls and shops?
A. Yes
B. No
Q. Is the multi-channel shopping affecting the high street shops and shopping malls?
A. Yes
B. No
6