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Business Decision Making TASK 11

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Added on  2020-06-04

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Business Decision Making INTRODUCTION 1 TASK 11 1.1 Creation of plan for collecting primary and secondary data1 1.2 Survey methodology and sampling frame used 2 1.3 Design a questionnaire2 2.1 Creation of information 4 2.2 Determination of measure of central tendency5 2.3 Evaluation of measure of dispersion 6 2.4 Use of quartile and correlation coefficient for decision making 7 TASK 28 3.1 Creation of graphs and charts for information dissemination 8 3.2 Use of trend line in future forecasting 10 3.3 Creation of power point 11 3.4 Formal business report11 TAS

Business Decision Making TASK 11

   Added on 2020-06-04

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Business Decision Making
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Creation of plan for collecting primary and secondary data.................................................11.2 Survey methodology and sampling frame used....................................................................21.3 Design a questionnaire..........................................................................................................22.1 Creation of information.........................................................................................................42.2 Determination of measure of central tendency.....................................................................52.3 Evaluation of measure of dispersion.....................................................................................62.4 Use of quartile and correlation coefficient for decision making...........................................7TASK 2............................................................................................................................................83.1 Creation of graphs and charts for information dissemination...............................................83.2 Use of trend line in future forecasting.................................................................................103.3 Creation of power point......................................................................................................113.4 Formal business report........................................................................................................11TASK 3..........................................................................................................................................124.1 Use of software generated information...............................................................................124.2 Prepare a project management plan with critical path........................................................124.3 Use of financial tools in order to take decision...................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
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INTRODUCTIONEvery right decision support business to grow and get develop so that better and effectivegain get promoted (Barry and Edgman-Levitan, 2012). Thus, crucial decisions aspects areessential in an organisation for making their sustainability appropriate and effective. Foreffective and appropriate judgement, business need to consider their stakeholders properly inwhich customers are major one. Although, without support of users none of an association gainsuccess. This project is based on Food for Friends whom want to open up another outlet inLondon. For this perception, management need to conduct a research by consulting primary andsecondary source of information properly. Moreover, choosing the best survey method willsupport in evaluate all factors properly. Along with this, questionnaire will support in determinebasic data for purpose and its analysis evaluate use of statistics properly. Graphical presentationwill lead to disseminate each and every consent properly in order to maximise productivity andbetter judgement. Internal rate of return and net present value work as a beneficial financial toolin order to articulate effectiveness and feasibility of project. TASK 11.1 Creation of plan for collecting primary and secondary dataPlanning is an important tool for every concern business whenever any project getsexecuted (Brynjolfsson, Hitt and Kim, 2011). Thus, every data collection process for businessproblem have a definite plan which need to follow by an association properly for managing andsuccessful implementation of task. Food for Friends determine two major types of data collectionwhich are:Primary data: This kind of information are raw in nature which never get exist in anyreport or consent. Thus, research need to determine primary data properly so that betterand appropriate decision could be placed on the basis of various respondent’s opinion. Itis constituting as best approach for measuring context properly. Secondary data: These are such kind of data and information which highly based onprevious results and reports. Hence, this data increase chances of duplication. Businessorganisation financial records inspection consider as secondary data which support intaking beneficial and appropriate judgement.Food for Friends have to create an appropriate plan for collecting both these data. Primary data ishelpful for analysing every individual aspect properly by conducting questionnaire survey. On1
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the other hand, secondary data get evaluated through financial information of a company in orderto evaluate feasibility of project. 1.2 Survey methodology and sampling frame usedSurvey is a part of study through which business and problem get appropriate solution sothat better and effective gain get promoted (Craft, 2013). There are various methods determineby researcher whenever any problem get determine properly. Out of them, it is a duty of researchto use and apply relevant one so that problem get resolve in an appropriate frame. Various kindsof approaches for survey are stated as follow:Online survey: One of method of survey methodology is online survey through whichbusiness become able to collate information through diverse sources (Cronan and et. al.,2011). Thus, online survey is a beneficial approach for determine various people aspectsproperly in order to take appropriate outcome. It is usually for large and wideorganisations whom have customer base all around the globe. Questionnaire: Another approach which support in survey is questionnaire throughwhich more than 1-person opinion get evaluated properly. This approach enables in betterand effective gain from various people so that suitable decision leads to get carried down.Questionnaire includes various questions on which customer’s opinion and perspectiveneed to be critically understand. Interview: Another method is interview which consider as survey methodology throughwhich an individual perspective for define problem get evaluated properly. Thus,interview need to be focus on a single issue and nothing else.This project includes questionnaire survey by using random sampling method in whichvarious respondent’s opinion and perspective get define in an appropriate frame. This approachis beneficial for long term context so that better and effective results could be gain. It includesvarious questions which organise on 80 respondents of London whom spent holidays onweekends with their family. 1.3 Design a questionnaireQuestionnaire is a survey approach which depicts various questions about a defineproblem so that better and appropriate judgement lead to be carried down. It supports in gainbetter and effective results by considering various respondent’s opinion. Food for Friends usesquestionnaire approach in their study for evaluating and determine appropriate judgement in2
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