Business Decision Making Assignment- Balti Palace Restaurant

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Preparation of plan by using various data collection sources...........................................1
1.2 Research methodologies...................................................................................................2
1.3 Questionnaire designing...................................................................................................3
2.1 and 2.2 .............................................................................................................................5
2.3 Calculation of data at different range with standard deviation......................................14
2.4 Benefits of quartile, percentile and correlation coefficient............................................15
TASK 2..........................................................................................................................................15
3.1 Graphical representation by using various charts and graphs........................................15
3.2 Tend line .......................................................................................................................17
3.3 Covered in PPT...............................................................................................................18
3.4 Formal report..................................................................................................................18
TASK 3..........................................................................................................................................19
4.1 Process techniques used in project plan.........................................................................19
4.2 Network diagram representation....................................................................................20
4.3 Appraisal for investment proposal..................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Business decision making is said to be the most important aspect of any business entity
that would help researchers as well as any individual to make appropriate decision regarding
development of their organisation. It is require to make business activities more effective
because the main objective of any business concern is to achieve its goal and to maximise
profitability of the businesses (Casadesus-Masanell and Ricart, 2011). Each decision leads to
various positive and negative impact on the performance and stability of an organisation. Under
this project report various research methodologies and a complete set of questionnaire is being
design from number of customers regarding their experiences after visiting to Balti palace
restaurant. With the help of secondary data various graphs and charts is being prepared. On the
basis of assumption a network diagram is being represented and critical path is originated to
know about shortest duration of time required to cover the project.
TASK 1
1.1 Preparation of plan by using various data collection sources
Before starting any research project it is necessary to identified types of research sources
they are going to use in it. Basically, there are mainly two types of sources which are used. Such
as primary sources and secondary sources. The overall base of this entire project is based on
these sources those are useful for the researchers. Primary is new data collection which is
collected through filling questionnaire from various respondents which are selected during the
research work. While, secondary data are used in order to analyse those collected data. These are
analyse through bar charts and pie-charts.
Data collection is use to identify and measure customer attitude and behaviour towards
goods and services offered by Balti place restaurant. It will make researchers a bit easy to know
some reviews and answers by asking general and specific questions to test the impact of survey
and analysed desire results after conducting all those work. Data ans information is being
collected from organisation face to face interactions, phone call and filling questionnaire with
those customers those are regularly visit the restaurant (Gigerenzer and Gaissmaier, 2011).
Location of Balti place restaurant taken as for data collection are from these two questions :
 Wolverhampton, England
 Barnsley
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 Womb-well
 Denby
The research was conducted from above mentioned restaurant location and it almost
require 5 week time to gathered desire outcome and reactions from different customers and their
perception regarding their choice of cuisine offered by Balti palce are appropriate for them.
Any of the research can not be possible without finance so it have to be fulfil from
various sources as to cover at least minimum cost would be 1500 pound to 4500 pounds. These
cost are incurred on hiring some skilled people those are going to conduct that research from
several location of that particular restaurant. so it is important to have sufficient amount of cash
available to organise this kind of research work (Kahneman, Lovallo and Sibony, 2011).
This research work is based on various method of data collection that includes interviews
and questionnaire that are required to prepare document and record analyse.
Sampling framework: These are that part of research work which is used to collect
information after selecting a certain sample form number customer groups. Under this it is
divided into small groups and by using random sampling it is conducted from various locations.
There are 100 of the total size of customers that were use to collect information.
Qualitative method of data collection is being used under this survey because personal
interviews and questionnaire are used to as important tool to gather data from certain group of
customers
The project report is primarily based on primary as well as secondary source. The most of
the research is done with using primary data. Because, questionnaire which are taken as primary
sources for the research work are based on fresh data. The respondents are asked to fill their
views according to there interest and experiences which they gain after visiting to balti palace
restaurants. Researchers are need to includes sources on which research and finding are based. It
also includes historical and legal documents and statistical data or other related aspects.
On the other hand, Secondary data is used to compare past data with current collect data.
It is done through applying various charts and graphs. As the secondary data are mostly based on
numerical values which are related with research. It is mainly created by someone who did not
experiences any participation in the activities during the research phase.
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1.2 Research methodologies
It has been observe that research is the journey to evaluate something new from the past
as well present situation. So proper tools and techniques are to be adopted in order to get more
appropriate results. It comprises of systematic and numerical investigation to identify
characteristic of research by asking open-ended questions and collection and to find out
numerical data to know its importance in coming time period. Research methodologies is being
always happens to be most important tool used by researcher in their decision-making process.
Both technical and practical aspects of information that are associated with the knowledge and
ability of the research. Types of research conducted under the project are:
Descriptive: It is associated with research facts and figures that are collected during customers
visit to Balti place restaurant. It is design to identified specific skills and ability of selected group
of customers that are being taken as sample under this research work.
Qualitative: It is use to know about intensity of the study that are arises from various problems
and cases which are being find out by researchers during research work.
Under this research two important techniques are being used;
Face to face interviews: This methods are use at the time of meeting with customer face
to face. It is use to identify their reaction and reviews about Balit place hospitality and service
provided to them.
Target group interviews: In this kind of method a particular group is being selected at
common view are taken into consideration (Muindi, 2011).
Second part of research is based on questionnaire: It summarise with number of multiple
choice questions regarding different views about food, services and other aspect of Balti palace
restaurant.
Sampling framework is used as:
 Simple random sampling is use for statistical data because of each unit and individual
have common possibilities to be selected.
 Cluster sampling: This method is use by research to divide population into various small
groups from number of population.
 Quota sampling: It is said to be collection of representative data from those selected
groups it is said to be opposite of random sampling.
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From above mentioned sampling the most suitable one is random sampling because groups are
easily selected from number of population and all the information about restaurant is being
collected in proper manner.
1.3 Questionnaire designing
Questionnaire is complete set of printed written questions with having multiple choice
options those are use for the research work. Types of questions use are:
Dichotomous which is comprises of only two options (Smith, Binns and Tushman, 2010).
Nominal - polytomous in which more than two options are available with the respondent.
Objective of research questionnaire is to know about customers reaction and reviews about
services and cuisine provided by Balti palace restaurant.
BALTI PALACE RESTAURANT
Personal Details
Gender: Male[] Female []
Age: Below 25 [] 25-30 [] 30-40 []
Occupation: Businessman [] Student [] professional [] Home-maker []
Q1: Have you every time visited Balti palace restaurant?
a) Yes []
b) No []
Q2: Form whom you come to know about this restaurant?
a) Friends [] b) Newspaper [] c) Internet
Q3: Is the price of cuisine are under your budget?
a) Yes []
b) No []
Q4: What is most attractive about Balti palace restaurant?
a) Service
b) Atmosphere
c) Food
d) Other(Specify)
Q5: would you satisfied with the food and other facilities of Balti palace restaurant?
a) Satisfied
b) Not satisfied
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Q6: How well you rate the work of Balti palace?
a) Good
b) Average
c) Below average
Q7: Are you use online facilities of Balti palace?
a) Yes
b) No
Q8: Is this restaurant provide traditional cultural food to customers?
a) Yes
b) No
c) can't say
Q9: Would you like to provide any personal commits regarding Balti palace that should be
changes according to your perception?
Ans:
...........................................................................................................................................................
............................................................
Q10: How comfortable with experience that would you gain after visiting to Balti palace
restaurant?
a) Highly
b) Average
c) Neutral
Q11: Which age group does you belong to?
a) 18-20 b) 20-25 c) 25 -30 d) 30-40
Q12: How much you spend for cuisine?
a) 10-15 pound
b) 15-20 Pound
c) 20-25 pound
d) 25 and more
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Q13: Provide any additional recommendation that would you want to seen?
Ans:
...........................................................................................................................................................
......................................................................
2.1 and 2.2
After collection of questionnaire the next step required to be done in research work is to
interpret it from using representatives value (Sosna, Trevinyo-Rodríguez and Velamuri, 2010).
Appropriate methodologies are being use to collect actual percentage of customer and on that
basis related conclusion is being drawn from 100 respondents.
Total Number of respondent: 100
From age group: 18 to 55 years old people
Gender: Male [60%] Female [40%]
Religion: Hinduism [40%] Christian[20%] Muslims [15%]
Other [25%]
Q1: Have you every time visited Balti palace restaurant?
a) Yes 80
b) No 20
Mean 90
Median 50
Mode 0
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