Business Decision Making Report - Balti Place

Added on - 21 Jul 2020

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Business Decision Making
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1(1.1) Prepare a plan by using primary and secondary data.....................................................1(1.2) Explaining survey methodology and sampling frame...................................................1(1.3) Prepare a questionnaire.................................................................................................2(2.1) Summarising collected data using representative values and drawing valid conclusion3(2.2) Computing mean, median and mode and also provide recommendations....................4(2.3) Calculation of standard deviation..................................................................................5(2.4) Computing quartile, percentile and correlation and providing meaningful conclusionfrom the calculations..............................................................................................................5TASK 2............................................................................................................................................7(3.1) Prepare graphical representation of data covered in ppt................................................7(3.3) Business Presentation Covered in ppt............................................................................8(3.4) Prepare formal business report......................................................................................8TASK 3............................................................................................................................................9(4.1) Discuss different tools of information processing.........................................................9(4.2) Preparation of project plan and determination of critical path......................................9(4.3) Assessing financial tools for making business decisions.............................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONOrganisation is required to plan out its activities so that it may flourish in the manner bygarnering more profit and widen customer base. The enclosed report deals with Balti palacewhich is planning to launch new branch in London. It is required that organisation may invest inprojects after analysing its risks. By providing quality services to customer, it may achieve goalsin effectual manner (Zsambok, 2014).TASK 1(1.1) Prepare a plan by using primary and secondary data.Data collection is really important to start a new venture by company. Balti palace isplanning to launch a new restaurant. For this, it has to collect secondary as well as primary data.Primary data is collected through original sourceand is first hand data collected by researcher.This data is collected through questionnaire which is provided to respondents through onlinefacility. Books and journals are also used for data gathering. Data needs to be collected fromdifferent sources so that topics related to research may be carefully analysed. Primary data isfirst handed data where information through the online questionnaireOn the other hand, secondary data is collected from the annual reports of company todraw out meaningful conclusion. Secondary data is second hand information which has beenalready used previously for the research purpose. Whereas, primary data is provided tocustomersto be filed by them to draw out useful information.Therefore,it has to make a plan ofsegregating primary as well as secondary data so that business decisions can be made easily(García-Peñalvo and Conde, 2014).It is of much use for company as it provides a good source ofinformation which helps in the decision making.(1.2) Explaining survey methodology and sampling frameSurvey methodologyIt is used for gathering data from specific segment. In this study, it is essential to find outthe information from customers regarding their likings and dis-likings, tastes and preferences aswell as ideas to improve upon innovation. Questionnaire are distributed through online waywhich reduces time and increase efficiency.Consumer’s tastes and preferences play a vital rolein deciding upon what restaurant has to make decisions regarding taste of them so that quality of1
services may be achieved. It is provided to customers through online basis which saves time ofinvestigators. The survey question list may be out if closed as well as open ended questions.Simple random sampling methodIt is the method of sampling in which data is collected from taking sample of it. It meansthat sample taken by company is representation of entire segment of the information. Forexample, 20 customers are taken as a sample by the investigators. In this research Balti palacerestaurantuse simple random sampling methods where they easy generate information(Pettigrew, 2014). In this sampling method there is no parameter used. This method is free andrandomly determine.In this research report research used online questionnaire forms forgenerating authentic information(1.3) Prepare a questionnaireQuestionnaireDemographic informationNameAgeGender1.Do you prefer to go to restaurant for eating food?DailyWeeklyOnce in monthRarely2.Which factor do you consider while taking food from Balti palace?ServiceQualityLow pricesLocation3. In your opinion, does Balti palace provide high quality of food products?YesNo4. Do you think customer satisfaction is achieved by Balti palace?Strongly agree2
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