Business Decision Making

Added on - 03 Dec 2019

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Business Decision Making
TABLE OF CONTENTSIntroduction......................................................................................................................................3TASK 1............................................................................................................................................31.1 Planning for the collection of primary and secondary data...................................................31.2 Survey methodology and sampling frame.............................................................................31.3 Sampling questionnaire to be used.......................................................................................42.1 & 2.2 Calculating mean, median and mode..........................................................................52.3 Calculating measures of dispersion.......................................................................................62.4 Using quartile, percentile and correlation coefficient............................................................6TASK 3............................................................................................................................................73.1, 4.1 Line/ Bar graphs using spreadsheets...............................................................................7......................................................................................................................................................83.2 Trend lines using spreadsheet for sales, costs and profit......................................................9TASK 4..........................................................................................................................................114.2 Calculating the project duration and critical path...............................................................11........................................................................................................................................................133.3 Presenting the findings.........................................................................................................133.4 Formal business report........................................................................................................13TASK 5..........................................................................................................................................144.3 Using financial tools for decision making...........................................................................14CONCLUSION..............................................................................................................................152
Illustration IndexIllustration 1: Line graph of sales, cost and profit...........................................................................9Illustration 2: Bar graph of sales, cost and profit.............................................................................9Illustration 3: Trend line of cost.....................................................................................................11Illustration 4: Trend line for profit.................................................................................................11Illustration 5: Trend line for sales..................................................................................................12Illustration 6: Gantt chart...............................................................................................................14Illustration 7: Critical path method................................................................................................14Index of TablesTable 1: Mean, mode and median....................................................................................................7Table 2: Measures of dispersion......................................................................................................8Table 3: Coefficient of correlation...................................................................................................8Table 4: Table 4: Sales, cost and profit............................................................................................9Table 5: Trend line table................................................................................................................11Table 6: Activity table...................................................................................................................14Table 7: IRR and NPV of project Super and Sonic.......................................................................17Table 8: Payback period.................................................................................................................173
INTRODUCTIONBusiness decision making is the imperative aspect which assists management to workwith integrity and take right decision in the direction of growth and success of the firm. Presentreport is based on case study in which client wishes to launch new brand of trainers in London.Thus report will cover the detail analysis regarding the market and marketing dynamics. Further,analysis is done by collecting large amount of information through use of survey methodology.In addition to this, forecasting is done for cost and profit analysis for the coming time span. Itproves to be effective in arranging necessary resources for business.TASK 11.1 Planning for the collection of primary and secondary dataThere are two types of data collected for the launching of new brand of trainers inLondon. Here, both primary and secondary data will be collected in order to create strongdatabase. Primary data are those which are accessed first time in order to collect fresh and rawdata (Bazerman and Moore, 2012). On the other hand secondary are collected by using range ofsources which are already available. However, collection of primary data taken extensive time incomparison to secondary data. Also, they are valid and authenticate enough for sowing evidencefor the study.In this regard, primary data will be collected with the interaction of respondents(Bojadziev and Bojadziev, 2007). It facilitates to understand the views and ideas of customersand accordingly corporation can provide services to them. On the other hand, secondary data arecollecting by accessing wide range of secondary sources. It consists of journals, books and onlinematerial.1.2 Survey methodology and sampling frameSurvey methodology is the one of the effective method for collection of data fromrespondents. It makes it possible for researcher to collect large amount of data in the direction ofcompletion of study (Dew, Sarasvathy and Wiltbank, 2009). Under this methodology samplingframe plays vital role because appropriate number of people selected in the form of sampling aredistributed questionnaire in order to gather adequate information. Further, sampling represent theindividual unit of population to be studied. For the current research 30 respondents will be4
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