Business Decision Making for Opening a Second Restaurant in London

Business Decision Making

Contents
Introduction.................................................................................................................................................3
Task 1..........................................................................................................................................................3
1.1 Plan for collection of primary and secondary data.............................................................................3
1.2 Survey methodology and sampling frame work.................................................................................4
1.3 Design questionnaire.........................................................................................................................5
Task 2..........................................................................................................................................................6
2.1 Mean mode and median calculation...................................................................................................6
2.2 Analyses of the results.......................................................................................................................7
2.3 Calculation of Dispersion..................................................................................................................8
2.4 Calculation of percentiles and correlation coefficient........................................................................9
Task 3........................................................................................................................................................11
3.1 Data analyses...................................................................................................................................11
3.2 trend line..........................................................................................................................................14
3.3 Business presentation.......................................................................................................................14
3.4 Formal business report.....................................................................................................................14
Task 4........................................................................................................................................................15
4.1 Appropriate information processing tool.........................................................................................15
4.2 Critical path and network diagram...................................................................................................16
4.3 Financial tools.................................................................................................................................16
Conclusion.................................................................................................................................................18
References.................................................................................................................................................19

Introduction
Business decisions are most important part of any organization that can influence the
overall performance of an entity. Organizations have too many options but they have to
select most appropriate so that they can sustain in the corporate market for longer duration
(Laureiro‐Martínez and et.al, 2015). London is the most dynamic city of world, there are
many opportunities for a new firm to get high profit. Present report is based on Murano
restaurant which is working well in London, cited firm is planning to open its second
restaurant. Current assignment will create a plan for collecting a data from reliable sources.
Survey methodology and sampling frame work will be described in this study (Amankwah-
Amoah, 2015). In addition questionnaire will be designed and on the bases of collected
information, data will be analyzed. Investment appraisal techniques will be discussed in order
to take correct decision for the growth of Murano restaurant .
Task 1
1.1 Plan for collection of primary and secondary data
Collection of data is the most important part of any study, by this way company can
identify the root cause of the problems and can take proper decisions in order to resolve
business problems (Vitell, Singhapakdi and Nishihara, 2015). Currently Murano restaurant is
planning to open second restaurant in London city so it is necessary for the cited firm to do
research on business problems. There are several sources that can help in collection of
relevant information:
 Primary sources
 Secondary sources
Primary information are such data which have been collected by researcher by own and
these are first hand information. There are several sources that can support in collecting
primary information such as questionnaire, survey, interview etc (Saaty and Peniwati, 2013).
Murano restaurant is working well but before opening its new branch it will have to know
about needs and wants of consumers, so that in the new restaurant cited firm can serve
delicious food to them as per their demand. That would help in getting higher returns and