Business Decision Making: A Comprehensive Analysis of Multichannel Shopping's Impact on High Street Shops and Malls

BUSINESS DECISION MAKING

Contents
INTRODUCTION........................................................................................................................3
TASK 1 – PLANNING THE SURVEY.............................................................................................4
1.1 CREATE A PLAN FOR COLLECTING DATA FROM STUDENTS ACROSS ALL CAMPUSES.4
1.2 PRESENT THE SURVEY METHODOLOGY AND SAMPLING FRAME USED.....................6
1.3 DESIGN A QUESTIONNAIRE FOR COLLECTING DATA..................................................7
QUESTIONNAIRE...............................................................................................................7
TASK 2.................................................................................................................................... 11
2.1 SUMMARISE THE DATA COLLECTED FROM THE SURVEY USING REPRESENTATIVE
VALUES (ARITHMETIC MEAN, MEDIAN AND MODE)..........................................................11
2.2 ANALYSE THE RESULTS OF THE SURVEY AND DRAW CONCLUSIONS............................13
2.3 ANALYSE THE DATA USING MEASURES OF DISPERSION...............................................14
2.4 EXPLAIN HOW QUARTILES, PERCENTILES AND THE CORRELATION COEFFICIENT ARE
USED TO DRAW CONCLUSIONS IN A BUSINESS CONTEXT..................................................15
Task 3..................................................................................................................................... 16
3.1 PREPARE GRAPHS TO HELP DRAW VALID CONCLUSIONS ON THE SURVEY..................16
3.2 CREATE TREND LINES IN SPREADSHEET GRAPHS TO SHOW THE LEVEL OF IMPACT
OVER A MINIMUM OF 3 YEAR............................................................................................26
3.3 PREPARE A POSTER PRESENTATION IN CLASS OF YOUR FINDINGS..............................29
3.4 WRITE A FORMAL REPORT ON PUBLICATION IN THE RETAIL MAGAZINE.....................30
Task 4..................................................................................................................................... 31
4.1 USE APPROPRIATE INFORMATION PROCESSING TOOLS...............................................31
4.2 PREPARE A PROJECT PLAN FOR AN ACTIVITY AND DETERMINE THE CRITICAL PATH. . .32
4.3 USING THE FINANCIAL TOOLS FOR DECISION MAKING................................................33
a) NPV CALCULATION...............................................................................................33
b) IRR CALCULATION.................................................................................................34

CONCLUSION.......................................................................................................................... 35
REFERENCES........................................................................................................................... 36

INTRODUCTION
The most important that should be focused on the organizations while initiating to do
something is decision-making process. The decision-making process in business
helps the organizations to complete the business activities in an appropriate way that
will reduce the cost and time implicated (Ferrell and Fraedrich, 2015). This process
is helpful to organizations in generating all the possible alternatives to a single
problem and selecting the optimal one of them. This assignment is based on
understanding the influence marked by the developing technology that is used by
multichannel shopping on the high street shops and malls (Sharma, et. al. 2014).
This assignment will generate a proper decision-making process on the basis of
focused topic and make use of statistical data and measures such as mean, median,
mode, quartile deviations, correlation and percentiles.

TASK 1 – PLANNING THE SURVEY
1.1 CREATE A PLAN FOR COLLECTING DATA FROM STUDENTS ACROSS
ALL CAMPUSES
Decision-making process is very helpful to the companies and organizations in
enhancing the growth rate. It is very important to make use of various tools and
techniques for collecting, storing and evaluating the data for the successful decision
making. This will be helpful in scrutinizing the useful data and information and
representing it as fact for evaluation (Power, et. al. 2015). This section is based on
the collection of data to generate better results for making a decision. The research
topic is “Understanding the reasons and influence of the technological innovation in
multichannel shopping on the high street shops and malls”. The two most common
sources for collecting data are considered here which are the primary method of data
collection and secondary method of data collection.
PRIMARY METHOD OF DATA COLLECTION
The primary methods for collecting data can be done in form of interviews, surveys,
questionnaires, etc. The primary method of data collection is considered by the
researchers as the first-hand evidence for an event or topic. The primary data is fully
focused on a single topic or purpose. To understand the impact of the technological
development and the perception of the customers and people on it, the survey
method will be helpful in generating better results (Palinkas, et. al. 2015). The
questionnaire is considered as a primary method for collecting data in this research.
While focusing on the school students for data collection, the questionnaire is
considered to show accurate results. Randomly selected 50 students will answer the
questionnaire that will generate the results showing trend and shopping habits of the
customers.

SECONDARY METHOD OF DATA COLLECTION:
The data that is collected by other researchers in past or the one which was
published previously in some magazine or art gallery is considered as the secondary
data. The secondary data is usually collected from censuses, records of the
organizations or a particular party, governmental departments, previous researchers,
etc. The secondary data is considered as a part of quantitative data. This data is
helpful to researchers in generating appropriate results (Heeringa, et. al. 2017).
Apart from questionnaire as a primary data, this assignment is also based on the
facts and figures collected by the previous researchers on this topic which includes
the articles published in journals by UK government, retail price surveys, changing
trends, etc. This is helpful in targeting the correct population.

1.2 PRESENT THE SURVEY METHODOLOGY AND SAMPLING FRAME USED
A surveying method is a detailed approach of collecting the data from potential
customers and market to analyse the collected data and recover the valuable
information that will be helpful in properly implementing the decision-making process
(Moser and Kalton, 2017). In the context of this research project of understanding
the innovation implication, a survey is conducted on 100 students having the
shopping habit and investment nature. This will be helpful in the understanding
periodical changes in the market and shopping nature of the consumers. Apart from
this, it will also be helpful in understanding the socio-economic impact.
The most important and crucial features of data collection methods are interview
questions and questionnaire that generated a sample framework (Sullivan-Bolyai, et.
al. 2014). The designed questionnaire in this section sequence will describe various
questions to be asked that will derive required and suitable data according to the
topic. About n number of students are nominated from the whole populace who will
answer the survey. The sample size of this survey is described as follows:
Miscalculation chances: 5%
Positive variance or confidence interval: 95 %
Total populace: 2000 students
Responsive population: 60%
A sample of recommendation: 100 students
From about 2000 students across all the universities, about 100 students are chosen
to answer the questionnaire as a result of the sampling method.

1.3 DESIGN A QUESTIONNAIRE FOR COLLECTING DATA
The survey method of the questionnaire is a set of questions that have some written
questions in it with some choice answers and it is based on the formulate tenacity of
the survey. This questionnaire will be helpful in recognizing the spending behaviours
of the students. There are about 13 questions designed for this questionnaire that
are close-ended and are focused on collecting the data and information.
QUESTIONNAIRE
Respected Sir/Madam,
Please respond to the following questionnaire which is focused on understanding
the consumer behaviour towards shopping and how it has evolved with the
technological development. This research is aimed at understanding the influence of
technological development and innovation in multichannel shopping on the high
street shops and malls. There are some diminutive and close-ended questions
designed for this questionnaire which are required to answer genuinely.
Name: ___________________________________ Date:
____________________________
Address: _________________________________________________________
_____________________________ Contact no:
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