Decision Making Business Assignment

Added on - 06 Jun 2020

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BUSINESS DECISIONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 (a) Plan for conducting survey.............................................................................................11.2 (b) Survey methodology and sampling framework...............................................................21.3 (c) Questionnaire for conducting survey..............................................................................3TASK 2............................................................................................................................................52.1 (a) Estimation on collected data............................................................................................52.2 (b) Mean, median and mode of collected data......................................................................62.3 (c) Dispersion on collected data............................................................................................82.4 (d) Quartile and correlation of collected data.......................................................................9TASK 3..........................................................................................................................................103.1 (a) Graphical presentations on collected data.....................................................................103.2 (b) Trend line method for forecasting.................................................................................153.3 (c) Power point presentation of collected data....................................................................173.4 Business report....................................................................................................................17TASK 4..........................................................................................................................................174.1 (a) Information processing tools.........................................................................................174.2 (b) Project planning tools....................................................................................................184.3 (c) Investment appraisal techniques for decision making..................................................20CONCLUSION..............................................................................................................................22REFERENCE.................................................................................................................................24
INDEX OF TABLESTable 1: Planning for data collection...............................................................................................1Table 2: Quartiles of collected data.................................................................................................9
ILLUSTRATION INDEXIllustration 1: Formula used for calculating mean...........................................................................5Illustration 2: Formula use d for evaluating median of odd numbers..............................................6Illustration 3: Formula use d for evaluating median of even numbers............................................6Illustration 4: Formula used for calculation of standard deviation..................................................8Illustration 5: Number of students belonged to campus................................................................11Illustration 6: Satisfaction level of respondents with services of UKCBC....................................12Illustration 7: Students' views on teaching services of the organisation........................................13Illustration 8: Environment of the entity........................................................................................14Illustration 9: Other facilities of UKCBC......................................................................................15Illustration 10: Trend line for forecasting on admissions..............................................................16Illustration 11: Project plan with time line....................................................................................19Illustration 12: Gantt chart.............................................................................................................19Illustration 13: Network diagram as project plan..........................................................................20Illustration 14: NPV......................................................................................................................21Illustration 15: IRR........................................................................................................................22
INTRODUCTIONDecision making is crucial for managing entire operations and improving efficiency of anentity. In accordance with this, a systematic planning procedure is created to meet theorganisational goals efficiently. Present report is based on understanding different tools ofdecision making for UKCBCwhich is going to be reviewed by Quality Assurance Agency(QAA) in the upcoming months. It is college of UK provide courses BBA/Bcom/BA/BSC/MBA/MCA/MA and campus faculties.In this regard, data collection and sampling methods arediscussed for analysing students' satisfaction level with college's services. Including this,estimation on the collected data can also be identified in terms of evaluating mean, median andmode. Likewise, presentation on collected data is recognised in this assignment.Moreover,information processing techniques for sharing data and further decision making process will beintroduced.Along with this, investment appraisal techniques are highlighted for the college.However, significance of decision making and tools related for processing are understood here aswell.TASK 11.1 (a) Plan for conducting surveyData collection is a process of analysing actual market and business performance ofentity.On which,variety of ideas generated for decision making and increasing efficiency.However, data is collected at primary and secondary level for which appropriate planning iscreated to increase profit level.In accordance with this, primary data collection includesconducting survey, face to face interview and different other methods for analysing the actualperformance(Craft, 2013). While, for secondary data collection information are collectedthrough ready and prepared such as; reading articles in newspaper, magazines, social networkingsites and so on.According to the given case scenario, UKCBC is going to conduct survey with itsstudents regarding their satisfaction with entity's services(García and Conde, 2014. In thisprocess, researcher is to select 20 students of the entity for analysing their satisfaction level withits services.In accordance with this, planning for conducting survey is created as follows:Table1: Planning for data collection
Survey related toAnalysing students' views with courses and campus facilities ofUKCBC.LocationCollege auditoriumData collection methodPrimary data collectionSampling methodRandom sampling (selecting 20 students from different campusesrandomly)Estimated expenses600-800Time frame2-3 weeksIn data collection process, researcher is to select 20 students from different campuses as;science, arts and commerce. Therefore, respondents' satisfaction level with services of UKCBCin terms of teaching, campus and environment. On which, variety of ideas can be identified formaximizing their satisfaction and maintaining for longer time period.1.2 (b) Survey methodology and sampling frameworkSurvey methodology:Survey is an approach of identifying market and business performance of the organisationdone through asking questions face-to face, online survey, people's attraction towards servicesand so on(Ginevičius and Podviezko, 2013). In this regard, investigator is to survey with collegestudents by asking questions as regarding their satisfaction.Sampling framework:It is a structural framework for selecting participants to conduct survey and identifying itsactual performance. It is of different kinds that can be understood as:Systematic sampling:Under this sampling method, respondents are chosensystematically or in sequence(Gu and et.al., 2013). For example: choosing one by one,one alternate, in even or odd numbers, etc.Random sampling:In accordance with this, respondents are selected randomly where noplanning is created to choose them alternatively.Likewise, for conductingsurvey inUKCBC, researcher is to select 20 students randomly for identifying their views on itscampus facilities and environment.
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