Business Decision-making Assignment- UKCBC
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Added on 2020-06-05
Business Decision-making Assignment- UKCBC
Added on 2020-06-05
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Business decision-making
Table of ContentsINTRODUCTION...........................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................31.3................................................................................................................................................4TASK 2............................................................................................................................................62.1................................................................................................................................................62.2..............................................................................................................................................132.3..............................................................................................................................................142.4..............................................................................................................................................15TASK 3..........................................................................................................................................153.1..............................................................................................................................................153.2..............................................................................................................................................183.3 Covered in PPT ..................................................................................................................193.4..............................................................................................................................................19Task 4.............................................................................................................................................204.1..............................................................................................................................................204.2..............................................................................................................................................224.3..............................................................................................................................................23CONCLUSION..............................................................................................................................24REFERENCES..............................................................................................................................25
INTRODUCTIONIn the changing world there are various aspects in relation to which different decisionswill be made and this process is known as business decision making (Ariely and Berns, 2010).With the help of this the college will be able to improve its performance and growth will beattained. In UKCBC a report is to be submitted to QAA with the help of which it will beevaluating the workings and corrective steps will be taken. In this report the survey will berequired to conducted with the use of questionnaire by which the relevant information will becollected and a plan will also be made in this respect. In this the sample will be taken and for thisdifferent methods are specified. The data will be interpreted and conclusion will be made whichwill be done with the help of graphs and charts (Casadesus-Masanell and Ricart, 2011). Thereare various proposals which are present in the business and the best among them will be selectedand for this various investment appraisal techniques will have to be used that are discussed in thebelow presented report.1.1As a student representative a report will be made on students experiences and satisfaction. Forthat some steps will be used to collect information. Following is the plan:Planning: A plan will be made to collect info about scholars regarding experience and theirreviews. For making a plan all factors will be included that how data will be collected and towhom responsibilities will be given.Select methods for collecting data: There are many methods to collect data. It also depends ontype of information. It can be quantitative as well as qualitative. Required data will be collectedthrough primary sources or through secondary sources. Questionnaires will be made, face to faceinterviews will be taken, a survey is needed to be done. There will be need to collect data byobserving them. Students who are not regular, they will be asked over the telephone. These allare included in primary sources (Chang, Van Witteloostuijn and Eden, 2010). There will be needto interact with students and then identify their problems.Collection of data: Selected methods such as series of written questions, surveys, interviews,observations will be implemented and response of students will be recorded accordingly. Personwho is accountable to acquire data will know how he will do so (Zsambok and Klein, 2014). Itwill be decided that when the data will be collected and what will be cost of doing this activity.1
From which portions of college and from which students, the relevant information will becollected.Storage of data: Collected information by different persons will be accumulated and will bestored in a appropriate manner. This info will be recorded in report and all the relevant data willbe kept safe. Person who has data will inform representative of students and that will bediscussed in report.There are 2 types of data collection sources and those are primary and secondary. These arediscussed as follows:Primary sources: In this method of acquiring information experiments, interviews,questionnaires, surveys and observations are made regarding subject matter. This in a techniquethat is used as collecting data by using own specific methods. This data is collected from originalsources. A series of questions, and interacting with other party face to face from whom info inbeing acquired, in case of absence use telephone to connect with other party etc. are included inthis method.Secondary sources: Data is acquired through already published articles, any written documents,magazines, newspapers, books, journals or through internet. It is a method that is used to useinformation already collected by someone else (Gigerenzer and Gaissmaier, 2011). These aremainly used for quantitative information. The data that is being reused is called secondary data.In this source after selecting subject for which information is required the available ways such asbooks, magazines, articles are used to make research on matter.Data is categorised in 2 parts. First is quantitative and second is qualitative. information that isused as statics is called quantitative. But qualitative is a interpretative information. Anythingthat can be expressed in numericals is quantitative and other data is known as qualitative.Primary sources are normally used for descriptive info. Secondary sources are use for numericfacts and details.1.2To make accurate decisions survey method is most commonly used. It is one of the bestand effective method to collect details. This technique is mostly used by upcoming generationbecause it provides high satisfaction while acquiring evidences. Many enquiry programmes areto be done to make any report in a adequate manner and with relevant information. There are a2
number of methodologies and samplings that are to be used by an organisation to collect data andall evidences:Survey methodology: to collect information from nearby environment, investigation ismade by help of this technique. Questionnaire can be taken as a technique of survey inwhich many question are there which are to be responded by people of that surrounding.It is a written format of collecting info (Ho, Xu and Dey, 2010). It provides accurateanswers because people themselves explain their situations in a questionnaire. In thismethod the answer that is most appropriate is selected from given questions. By thismethod information can be collected from different people of different locations. Randomsampling is also one of the appropriate method in which some random people are pickedup for collecting information. These people are observed and on that basis data for thatwhole segment is prepared. 40 respondents are taken to acquire the whole data.Rational of study: these are legal evidences those are of mandatory nature and are usedfor researches. It explains the objective of research that is made. It is a critical analysis ofsituation. Professional growth can be achieved by rationality of study.Sampling framework: this means a complete list of population that is to be studied. Alarge number of people is covered by sample frame. It represents details of students thoseare studied in a concise way. It is used to identify that from where information is to becollected. All descriptions of students are included in this framework department wise.There are 4 types of sampling framework: 1. Area2. list3. multi stage4. series of surveys.Area and list sampling framework is used for receiving data from students. Under these methodslist of different scholars and departments from where information is to be collected are includedand explained. Under this report, questionnaire is used in order to collect the data so that reliabledecisions could be framed. The framed questionnaire is distributed among the 60 respondents inorder to collect the data from them on behalf of total number of students. The questionnaire is3
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