This presentation focuses on business decision making and its importance. It includes trend lines, graphs, and analysis of sales and profit. It also explores customer satisfaction and decision making factors in the restaurant industry.
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BUSINESS DECISION MAKING TASK 3 (3.3)
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3.3 BUSINESS PRESENTATION Trend line 12345678 0 200 400 600 800 1000 1200 1400 f(x) = 15.7142857142857 x + 1143.03571428571 f(x) = 15.889880952381 x + 257.776785714286 Sales Linear (Sales) Profit Linear (Profit )
CONTD… Fromtheabovementionedtrendline,ithasbeen analyzed that in the near future both sales and profit will move in the upward direction. Hence, this aspect clearly indicates that plan in relation to opening of second restaurant will prove to be more profitable for firm. Further,onthebasisoftheexistenceofpositive relationship both sales and gross margin of the restaurant will grow in the near future.
CONTD…. Sales and profit graphs 12345678 0 500 1000 1500 2000 2500 Years Profit
CONTD…. The above mentioned graph entails that sales and profit aspect of the restaurant is continuously increasing.From theperiodof2008to2010salesandprofitswere continuously inclined. However, in the period of 2011 sales and profit margin of Blackfriars restaurant declined. Hence, to enhance both sales and profit margin restaurant needs to make focus on placing advertisement on social networking sites such as Facebook, Twitter etc. This in turn provides information to the customers about the exclusive dinning services offered by the restaurant. Graph presents that at the end of 2015 sales of the business organization inclined from £1150 to £1285.
CONTD…. Further, profit margin of the firm was also increased in the last 8 years along with the sales revenue. Hence, by taking into account all such factors it can be said that restaurant is performing better to the large extent. It indicates that by making proper management of the businessactivitiesandfunctionsownerwillachieve success from another restaurant.
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CONTD…. Theme 1: Services offered by the restaurant gives high value of money to the customers YesNo 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% No. of respondents No. of respondents
CONTD…. Outcome of primary data entails that 90% customers agreed with the aspect that prices which are charged by Blackfriars is highly effective. Hence, price is one of the main factors which havehighlevelofinfluenceonthesatisfactionlevelof customers. Moreover,nowcustomerstakedecisionbyevaluatingthe priceswhichischargedbyanotherfirmsforthedinning services. In this regard, view points of the respondents clearly entails that pricing policy of the restaurant is highly competent. On the other side, 10% respondents said that they not satisfied with the pricing policy of the restaurant. One of the respondents saidthatotherrestaurantschargelessascomparedto Blackfriars.
CONTD…. Theme 2: Internet is the main factor which is undertaken by the customers while taking decision about dinning Internet Discounting offers Friends and family members 0% 20% 40% 60% No. of respondents No. of respondents
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CONTD…. From primary data, it has been identified that internet surfing is done by the customers for the selection of restaurant.Moreover,internetclearlyprovidesdeeper insight to the customers about menu and price level. On the basis of such aspect 50% respondents support such aspect.Further,26.67%respondentssaidthatthey consider discounting offers while taking decision about making use of dinning services. Whereas, 23.33% customers said that they consider the advice of friends and family members for selecting the restaurant.Hence,businessunitshouldconsidersuch aspect while framing promotional strategies and campaign.
REFERENCES Sutherland,L. A.andHolstead,K.L.,2014.Future- proofing the farm: On-farm wind turbine development in farm business decision-making.Land Use Policy. 36. pp.102-112. Barlett,P.F.ed.,2016.Agriculturaldecisionmaking: Anthropologicalcontributionstoruraldevelopment. Academic Press. Popovič, A. and et.al., 2012. Towards business intelligence systemssuccess:Effectsofmaturityandcultureon analytical decision making.Decision Support Systems. 54(1). pp.729-739.