# Business Decision Making Assignment: Murano Restaurant

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Data collection methods........................................................................................................11.2 Survey methods and sampling framework............................................................................11.3 Questionnaire........................................................................................................................2TASK 2............................................................................................................................................42.1 Data estimations....................................................................................................................42.2 Averages on collected data....................................................................................................62.3 Dispersion on collected data.................................................................................................82.4 Quartile and correlation coefficient......................................................................................9TASK 3..........................................................................................................................................103.1 Findings on conducting survey...........................................................................................103.2 Trend line on forecasting for further years.........................................................................163.3 Presentation on findings......................................................................................................173.4 Business report....................................................................................................................17TASK 4..........................................................................................................................................184.1 Information processing tools...............................................................................................184.2 Project plan..........................................................................................................................184.3 Investment appraisal techniques.........................................................................................21CONCLUSION..............................................................................................................................23REFERENCE.................................................................................................................................24
INDEX OF TABLESTable 1: NPV ................................................................................................................................22Table 2: IRR as investment plan...................................................................................................23
ILLUSTRATION INDEXIllustration 1: Formula used for calculating mean ..........................................................................5Illustration 2: Formula for calculating median for odd number respondents..................................5Illustration 3: Standard deviation measurement..............................................................................8Illustration 4: Age group of respondents.......................................................................................11Illustration 5: Respondents' views on services of the restaurant...................................................12Illustration 6: Frequency to visit Murano restaurant......................................................................13Illustration 7: The most attractive tool of restaurant......................................................................14Illustration 8: Respondents' ranking on services of restaurant......................................................15Illustration 9: Service required to be improved.............................................................................16Illustration 10: Trend line for forecasting on further operations...................................................17Illustration 11: Project plan............................................................................................................19Illustration 12: Gantt chart.............................................................................................................20Illustration 13: Network diagram...................................................................................................20Illustration 14: Project schedule.....................................................................................................21Illustration 15: Formula for calculating NPV................................................................................22
INTRODUCTIONDecision making for business operations is essential affect its further operations andservices. It is beneficial for analysing actual performance and preparing planning for increasingefficiencies. The present report is based on understanding decision making tools for establishingnew restaurant of Murano restaurant in London. It is food and accommodation service providerof the country planning for its expansion. In this regard, data collection methods and averageestimations on these are to be described on which further decisions are made. However, differentinformation processing tools for exchanging data is to identify through this assignment.Including this, project plan including Gantt chart and investment appraisal techniques will beintroduced. Thus, learners are able to understand several aspects of business decision making onexpansion of Murano restaurant through this report.TASK 11.1 Data collection methodsData are collected at primary and secondary level by which performance of entity isrecognised. However, in primary data collection, information are gathered through conductingsurvey, face to face interview and so on. Therefore, actual position of organisation is identifiedthat affect further operations its efficiencies. While, on the other side, under secondary datacollection, information is collected by using ready and prepared materials like; analysingposition of business entity using financial tools, other competitive entity's performance throughnewspaper, magazine, social networking sites etc. Therefore, market position and economicposition of entity is determined for further business operations (Craft, 2013).Similarly, for establishing new restaurant of Murano in London, its actual position isrequired to be identified. In this regard, its position is to be recognised by conducting survey andasking questions to selected 60 people for collecting data regarding their views on servicesprovided by the restaurant (García and Conde, 2014). 1.2 Survey methods and sampling frameworkSurvey is a process of analysing respondents' attitude towards goods and servicesprovided by Murano restaurant for identifying its actual position. However, survey is conductedin different ways through sampling, online data collection, interview and so on. In this process,information is gathered at first time also variety of data are generated ideas for further business1
operations (Ginevičius and Podviezko, 2013). For conducting survey, researcher is to select 60people randomly for identifying their views on food and accommodation services of Muranorestaurant. Sampling: Survey is done through sampling people out of population systematically orrandomly. However, respondents are selected systematically as selecting each one or alternateone. While, on the other side, under random sampling method, respondents are selectedrandomly as no fix system is recognised for sampling and conducting survey. Likewise, clustersampling is a process for selecting respondents and asking questions in a cluster or group. In thisregard, for analysing respondents' views on services of Murano restaurant, 60 respondents areselected randomly and for conducting survey (Gu and et.al., 2013). Therefore, different ideas arealso generated for further business operations and its expansion efficiently.1.3 QuestionnaireIt consists of questions regarding satisfaction level and different views of respondents onservices of Murano restaurant (Hill and et.al., 2013). However, questions asked by researcher toselected respondents are mentioned below:Name:Age:Gender: Q.1 From which of the age group you are belonged to?14-2021-2526-3536-50Above 50Q.2 Comment on services provided by Murano restaurant.EffectiveSatisfiedNeutralUnsatisfied2

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