Assignment On UKCBC - Business Decision Making

Added on -2020-02-17

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Business DecisionMaking
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Plan for collecting data from students across all campuses..................................................11.2 Survey methodology and sampling frame.............................................................................21.3 Questionnaire for collecting the data....................................................................................3TASK 2............................................................................................................................................42.1 & 2.2 Summarise the data collected from the survey by using representative values..........42.3 Analyse the data using measures of dispersion.....................................................................62.4 Explain how you can use quartiles, percentiles and the correlation coefficient to drawuseful Conclusions......................................................................................................................7TASK 3............................................................................................................................................83.1 Conclusions on the survey....................................................................................................83.2 Trend lines in spreadsheet graphs to assist in determining any pattern in studentsresponses.....................................................................................................................................93.3 Covered in PPT.....................................................................................................................93.4 Formal report suitable for presentation to QAA.................................................................10TASK 4..........................................................................................................................................114.1 & 4.2 Using information processing tools such as computers or software, explain how itcan support decision making at operational, tactical and strategic levels in an organisation...114.3 Financial tools for decision making advice a business planning on investing in a project.11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONDecision making can only be possible in case where the data which is collected throughthe survey and other research methodology are reliable. An individual can draft his decisionwhich is required by him for getting the results for which he is desired of. It can be defined as thesuccessful plan through which a person can draft some strategies in order to attain his goals andobjectives. In this report, lead student representative for UK college of business and computing(UKCBC) has been asked to frame a certain survey plan through which it can research over itssurvey and through this he can draft a report and present it to Quality Assurance Team. Thisreport present the elements and concepts which supports the concept that surveys can be helpfulin order to make any decision which has been targeted towards the objectives and goals of anyperson who is conducting out such research (Brynjolfsson, Hitt and Kim, 2011). TASK 11.1 Plan for collecting data from students across all campuses A plan is required to be made for collecting reliable data through the survey. Hencefollowing procedure should be followed for getting the data which is required for survey:Early planning: The success of every survey requires a early data planning. Beforedoing a survey it is the most important question which should be asked that why the survey isbeing done .What are the main objectives of doing the survey (Craft, 2013). What will be theoutcome of the survey and how it will be useful for the enterprise.Choice of examination methods: Once the early planning has been done this is the mostimportant step of doing a survey is that deciding the method of collecting the data. The enterpriseshould decide what method they will use in collecting the data. Choosing of right method willhelp the enterprise in achieving their goals.Staff and training: Staff and training means that if the survey is on a small basis than thesurveyor can alone do the survey but in the case of an information collecting process which isconducted on a large basis like in a college than the surveyor need the help of some helperswhich can help the surveyor in collecting information. Sampling methods: When the sample is selected from a large population than the sample isselected is on the basis of some common quality in the sample . Like in a college the sample canbe selected on the basis of some common quality like the subject and stream of the students.1
Recruiting subjects: Recruiting subjects means the people who are interested in takingpart of the survey (Fernando and Chowdhury, 2010). The people who got selected from the largepopulation for doing the sample study will the purpose of doing the study and why the survey isconducting and also tell all the guidelines like how they have to answer to the questions .Response rates: Response rates plays a major role in drawing a conclusion of thesurvey . If the response rates of the people will high than it will help the surveyor in drawing abetter conclusion on the other hand the problem can be arise in the case of non respondentspeople ,if people does not give answers to the questions than it will arise a problem to thesurveyor in drawing a better conclusion.1.2 Survey methodology and sampling frameThere are a number of methodologies which are designed in a way to achieve the datawhich can generated through using various sampling techniques and methods. Surveymethodology can be classified as the research method in which various questions has been askedto the total population in which they have to make different questionnaires so that they can askthem various questions which related with their field and subjects. These surveys actuallycontain various multiple choice questions in which the students who are studying at college orany person residing in some locality or any employee of any organisation has to give answer.Survey methodology have different benefits and several disadvantages also as in this user can getanswers from different people who are from different mind and thinking (Frey, Schulz-Hardt andStahlberg, 2013). Hence for using this technique it is required by the user that they have topossess benefits as well as certain demerits of this methods. The most common advantage of survey methodology is that it can be used towards anyperson who is related with such research survey as well as it will not consume much time ascompared with the other methods through which user can access over the data which is requiredfor the research and analysis over the students (Gabrielsson and Gabrielsson, 2013). But its mostcommon disadvantage is that in this there may some chances to get selection of wrong personwho is not a part of research can miss guide the entire research in a wrong direction.Sampling frame is technique of statistics through which an user can access the data whichis required by him for carrying out the process of research and analysis. Student representativecan use sampling frame in order to carry out the entire research process so that they can frameout their decision so that they can attain the objectives and goals.2

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