This assignment focuses on data collection, survey methodology, analysis, and conclusions related to customer habits and shopping platforms. It also covers systems like TPS, MIS, and DPS, along with financial tools for decision-making.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Business Decision Making 1
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
c) (d, e).......................................................................................................................................25 Conclusion....................................................................................................................................27 References.....................................................................................................................................28 3
Introduction The assignment consists of the plans used for the collection of data on the basis of the questionnaire designed for the change in habit of the customers and the shopping platforms for the purchasing of the products. There is also the inclusion of the survey methodology and sampling frame. There is the calculation of mean, median mode of the data collection and analysis of them. The measure of dispersion and conclusions from them are also stated in the assignment. There are valid graphs depending upon the results that were achieved by the collection of data from the questionnaire. It also includes the trend line over the 3 years with respect to the impact that is there on the habits. There is also the inclusion of the Transaction processing system, Management information system, Decision support system. The assignment also includes the critical path evaluation based on the case study provided along with the calculation of the IRR depending upon the cash flows stated. 4
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Task 1 a) Create a plan for collecting data from students across all campuses. The plan to be established for the collection of the data includes the creation of the questionnaire. Institutes visit will be conducted to select the population for the process and get the results related to the questionnaire. The best suitable method will be used for the collection of the data out of the population chosen. The questionnaire is to be distributed to the population and the results will be analysed to draw the conclusion (Clayton, 2018). 5 Creation of the Questionnare Visting Various Institutes Selecting of Universe Sampling Method Distribution and filling of the questionnare from the selected sample
b) Present the survey methodology and sampling frame used There are various methods that can be used for the purpose of the sampling such as Mail Survey, Telephone survey, and Personal Interview (Research Methodology, 2017). Mail survey refers to is a self-administrated written survey conducted in case there is large population. The telephone survey is conducted in a way that the questions are being narrated to the population and instant feedback is taken. A personal interview is taken face to face in the respondent and series of questions are asked to the population. The personal interview is considered for the collection of the data. The sampling method used by for the determination of the result is a random sampling. Samples are taken out of the universe instead of conducting it on whole of the universe to generate the data (Etikan, et. al., 2016). The universe taken for the calculation of the current scenario is of 60 and the population selected was of 40. The conclusions are being determined on the basis of the results that are being availed from this population size (Singh, and Masuku, 2014). 6
c) Design a questionnaire for collecting the data. The questionnaire is set of questions used to determine some conclusion for a particular topic. The questionnaire is prepared to keep in view the shopping platform that is being used by the Children, Teenager, and Adults. The questions are based on to determine the shopping style for which the Universe selected is 60 and population of 40. Questionnaire (The details mentioned will be strictly kept confidential. The data collection is purely for the purpose of research) 1.Age group Children Teenager Adult 2.Shopping platform do you prefer Offline Online 3.Frequency of purchasing Daily 7
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Within a Month Within a Week 4.Recommend the online shopping in comparison to offline Children Teenager Adult 5.Who ismostly effected with the offers in online and offline shopping? Children Teenager Adult 6.Who is affected in termsof price in online and offline shopping? Children Teenager Adult 8
7.What types of consumers areaffected with Brand loyalty in online and offline shopping? Children Teenager Adult 8.What is the reason behind beingoffline for the purpose of shopping? Brand Loyalty Security After Sale Service 9. Who is affected with the Security in online and offline shopping? Children Teenager Adult 9
10.How likely do you promote the online shopping? Children Teenager Adult 11.Online Payment mode used while purchasing on online platform Children Teenager Adult 12.How is yourOnline shopping experience? Good Average Bad 10
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Task 2 a) Summarise the data collected from the survey using representative values Representative value12345678 Mean13.33331510.6667888.66667 7.6666 713.3333 Median101514668814 Mode100006000 11 9101112 8.666678.66667411.6667 86310
b) Analyse the results of the survey and draw conclusions The mean is the average of all the values of the survey taken. The survey is taken from the universe of 60 and the survey is taken from the 40 persons who include 10 children, 20 teenagers, and 10 adults. Median is the amount which lies in the middle of the questions of the survey. Median represents the mid values which have occurred in the questions of the survey. The mode is the amount of frequency that how many times the person responds to the survey. 12
c) Analyse the data using measures of dispersion Representative value12345678 SD5.7735 4.2426 47.571885.29153.46414.10961 1.5275 35.03322 9101112 4.0414 5 5.5075 7 2.6457 5 7.6376 3 Price456350254353448 Demand100200100250178 Correlation 0.037430 7 The general magnitude of the survey has been represented by the measures of dispersion. The standard deviation represents that the survey members differs from the mean of the survey. The variation in the survey is represented by the standard deviation. The coefficient of correlation is the amount which should be between 0 and 1. In the given case, the correlation is positive which implies that it has a linear relationship between the variables. The relation is linear among the variables. 13
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
d) Explain how you can use quartiles, percentiles and the correlation coefficient to draw useful conclusions Representative value12345678 Percentile1516.515149118.516 Quartile 25 %1013.58566711 Quartile 75 %1516.515109118.516 9101112 10.510.5515 6.55.52.57.5 10.510.5515 The survey has been divided into four equal parts to calculate the quartiles whose variation differs. In case of quartile 25% means the ¼ portion of the survey or the population whereas the quartile 75% is the ¾ portion of the survey or the population represented for the universe. Percentile is the amount of the survey represented in the form of percentage which is three- fourths of the survey or the population. Correlation coefficient represents the relation between the variables which has been shown above in the table. 14
Task 3 a) With the aid of spreadsheets produce graphs to help draw valid conclusions on the survey Q. Which Shopping platform is being preferred? The offline platform is being preferred but there has been increasing interest in the online platform for the teenager and youth. Though it shows that the offline is still popular but the online platform is soon going to cross it. 15
Q. How frequent is the purchasing on the Online Platform? It can be seen that though there is not much visit on daily basis there have been frequent purchases monthly and weekly from the online platform. The population weekly visit more in comparison to the month and daily purchasing person. Q. Is the purchasing is affected by the price online if yes how likely? 16
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
The price is an important factor for the shift in demand. It can be seen that price factor affected the teenager a lot to shift to the online platform purchases. The children are also influenced by the price variation but there is not much impact on the Adult section. Adult category is not much attracted towards the price variation in comparison to the children and teenager group. Q. What are the reasons for offline purchasing? There are various reasons that are behind the purchasing of the mobile phones from the offline platform. The security of the purchasing from the offline platform as well as the loyalty of the brands is the main factor for the purchasing from the offline platform. The after sale service of the phones is also a factor which still makes the people buy the mobile phone from the offline platform. 17
b) Create trend lines in spreadsheet graphs to show the level of impact over a minimum of 3 year period Q. Which Shopping platform is being preferred? Options201520162017 Offline242016 Online101418 It can be stated with the trend line that there is a high shift in the platform. There is an increase in the online options from 10 to 18 from the population of 34. There was a shift from the offline platform to online platform due to various reasons and factors. The online platform crossed the offline platform and is increasing whereas the popularity of the offline is getting to decline. It can be analysed that the online platform can soon diminish the offline platform in terms of the purchasing of the mobile phones. 18
c) Prepare a poster presentation in class of your findings 19
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
d) Write a formal report for publication in the Retail Times magazine. Introduction The report consists of the change in the behaviour of the people of purchasing the mobile phone from various platforms. There is the inclusion of the factors that have affected the change in the preference of the buying platform among the people. Content It can be seen that the people are intended to buy the phones from an online portal through various sites rather than purchasing them from offline platform especially by the teenagers. It can be seen that there have been various factors that led to this change in which the offers and price that is offered by the online platform have been major factor factors. The people which are still tending to purchase from offline sector do so due to the distrust among the people on purchasing the item from an offline platform. The after sale service has also been a factor for not shifting to the online platform even though there is saving the money. The security of the payment is still being not trusted by the payment. It can also be seen that the companies also prefer the online portal for the launch of the new mobiles which attract the people towards the online platforms. It can be seen that the reviews provided by the online platform by real customers also help them in deciding which phone is better for them thus making them shift to an online platform. The variety and comparison of the various available option help them to better decide the product. Conclusion It can be concluded with the help of the report that there is a shift in the purchasing from the online platform as compare to the offline factor. It can be stated that the price has been a major factor and people are willing to trust on online platforms along with the price and offers that are being provided. 20
21
Task 4 a) The systems which are used to serve at different levels of management and their role and characteristics are as follows: I.Transaction Processing Systems-The system which supports the processing of the transaction which is a combination of the hardware and software. The transactions of the organization in this system are collected, stored, retrieved and modified. The main characteristics of this system are that the data or the information can be predicted, the data or the information which is provided is reliable and it is consistent as well. The transaction processing system helps in managing the inventory, accounts payable, order entry, purchasing, etc. II.Management Information Systems-The managers are able to run the business or the department effectively and efficiently with the help of the management information systems (Al- Mamary, et. al., 2013). The information is combined with various departments, the members or the employees contribute to the system and the system helps in decision making. The issues are identified, the departments are coordinated with each other and the performance of the business can be compared. 22
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
(Figure: Management Information System) (Source: By Management Study Online) III.Decision Support System-The system which helps in taking decisions which are non- programmed. The main components of the system are a database, model base, and user interface. The Enterprise information system and the group decision support system are the kinds of the decision support system (Power, et. al., 2015). A large amount of data can be interpreted and collected easily with this system. By using this system better and effective decisions can be taken for the company as well as the customers. Various reports can be generated in this system which is easy to understand which can be a graphical presentation 23
b) (Figure: Network Diagram) (Source: By Author) Critical PathDays A-D-E-F-G-I-J8+6+4+3+4+8+134 A-B-C-D-E-F-G-I-J8+2+2+6+4+3+4+8+138 A-D-H-I-J8+6+8+133 A-D-E-G-I-J8+6+4+4+8+131 A-B-C-D-E-G-I-J8+2+2+6+4+4+8+135 A-B-C-D-H-I-J8+2+6+8+125 B-C-D-E-F-G-I-J2+2+6+4+3+4+8+130 B-C-D-H-I-J2+2+6+8+119 B-C-D-E-G-I-J2+2+6+4+4+8+127 Critical Path- A-B-C-D-E-F-G-I-J = 38 Days 24 A B D C E H F G IJ 8 2 6 2 4 3 6 4 8 1
The critical path project is required to be prepared to complete the project on time (Daramola, 2015). The time will depend on the predecessor activity where if it is delayed the whole project will be delayed and the next activity will not be started. In the given case, the critical path is 38 days. 25
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
c) (d, e) Using financial tools for decision making advice a business planning on investing in a projects The calculation of NPV with the help of the cash flows of four years is as follows: YearCash Flows PV 10% 0(15000)(15000) 180007273 2100008264 350003757 450003415 Total NPV 7709 The NPV of the project is positive which implies that the project will be beneficial for the company (Creemers, 2017). The company should invest in the project. The calculation of IRR is based on the interpolation method where the two rates will be assumed and then the rates will be interpolated and IRR will be calculated. The calculation is as follows: YearCash Flows 0(15000) 18000 210000 35000 45000 IRR35% 26
The IRR represents that the cash outflows must be equal to the cash inflows where the cash inflows should be the value where it can cover the cash outflow. On the basis of IRR, the profitability of the project is to be considered (Magni, and Martin, 2017). The positive NPV implies that the project should be accepted (Bell, P., 2017). The IRR implies that the project will be beneficial and will be able to cover the cost of the project. 27
Conclusion It can be concluded with the help of the assignment that there is a shift in the consumer preference on the basis of the platform used by them. It can be seen that the price is an important factor for the change. It can be stated with the help of the questionnaire conducted that their teenagers are having high trust on the online platform as compare to the children and adults. They are more interested in getting the product which has a lower price. The online payment term is still not much trusted by the people. It can also be stated that the TPS, MIS, and DPS are essential for the various levels of the management and are effective in the decision making of the organisation. It can help in better controlling and analysis of the data recorded and presentation of the same. It can also be concluded that there is an increase in the demand for mobile phones from the online platform as compare to the offline platform. 28
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
References ï‚·Al-Mamary, Y.H., Shamsuddin, A. and Abdul Hamid, N.A., 2013. The impact of management information systems adoption in managerial decision making: A review. Management Information Systems, 8(4), pp.010-017. ï‚·Bell, P., 2017. Introducing the Net Present Value Profile. Munich Personal RePEc Archive ï‚·Clayton,J., 2018. TheFive Stagesof the StrategicManagementProcess. Chron. [Online].Alsoavailableathttp://smallbusiness.chron.com/five-stages-strategic- management-process-18785.html. [Accessed on 15-02-2018] ï‚·Creemers, S., 2017. Maximizing the expected net present value of a project with phase- type distributed activity durations: an efficient globally optimal solution procedure. European Journal of Operational Research. ï‚·Daramola, M.O., 2015. Application of Critical Path Method scheduling to research plan andmanagementofgraduatestudents'researchprojectinengineeringeducation. QScience Proceedings, p.20. ï‚·Etikan, I., Musa, S.A. and Alkassim, R.S., 2016. Comparison of convenience sampling and purposive sampling.American Journal of Theoretical and Applied Statistics, 5(1), pp.1-4. ï‚·Magni, C.A. and Martin, J.D., 2017. The Reinvestment Rate Assumption Fallacy for IRR and NPV: A Pedagogical Note. Munich Personal RePEc Archive. ï‚·Power, D.J., Sharda, R. and Burstein, F., 2015. Decision support systems.John Wiley & Sons, Ltd. ï‚·Research Methodology, 2017. Survey Method.Research Methodology. [Online]. Also availableathttps://research-methodology.net/research-methods/survey-method/. [Accessed on 14-02-2018] ï‚·Singh, A.S. and Masuku, M.B., 2014. Sampling techniques & determination of sample size in applied statistics research: An overview.International Journal of Economics, Commerce and Management, 2(11), pp.1-22. 29