Business Decision Making: Impact of Multichannel Platforms on High Street Shops and Malls

Business Decision Making

Table of Contents
Introduction......................................................................................................................................4
Task 1...............................................................................................................................................5
Planning the survey......................................................................................................................5
a) Create a plan for collecting data from students across all campuses...................................5
b) Present the survey methodology and sampling frame used................................................5
c) Design a questionnaire for collecting the data.....................................................................6
Qualitative data collection...........................................................................................................9
In what way has the multichannel platforms impacted the high street shops and Malls?.......9
Task 2.............................................................................................................................................10
Summarizing and analyzing the data.........................................................................................10
a) Summaries the data collected from the survey using representative values (arithmetic
mean, median and mode).......................................................................................................10
b) Analyze the results of the survey and draw conclusions...................................................11
c) Analyze the data using measures of dispersion.................................................................11
d) Explain how you can use quartiles, percentiles and the correlation coefficient to draw
useful conclusions..................................................................................................................12
Task 3.............................................................................................................................................14
Presentation and report making of the findings.........................................................................14
a) With the help of spreadsheets graph has been produced to bring valid conclusion as per
the survey...............................................................................................................................14
b) Create trend lines in spreadsheet graphs to show the level of impact over a minimum of 3
years.......................................................................................................................................21
c) Prepare a poster presentation in class of your findings.....................................................23
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d) Write a formal report for publication in the Retail Times magazine................................23
Task 4.............................................................................................................................................25
a) How do the following systems serve the various levels of management in a business? You
are to describe their characteristics and the roles they play in a business.................................25
I. Transaction processing systems (TPS)...............................................................................25
II. Management information systems (MIS).........................................................................25
III. Decision support systems (DSS).....................................................................................25
b) A publisher has just signed a contract for the publication of a book. What is the earliest date
that the book can be ready for distribution based on the following activities with time
estimates:...................................................................................................................................26
c) Using financial tools for decision-making advice a business planning on investing in a
project........................................................................................................................................26
d) If the rate of finance at which the business can borrow is 10% calculate the NPV and advice
if it is worth considering this investment...................................................................................26
e) Calculate the Internal Rate of Return (IRR) and explain the meaning of the result..............27
Conclusion.....................................................................................................................................28
Reference List................................................................................................................................29
Appendix:......................................................................................................................................30
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Introduction
High Street shops and malls have been impacted due to the advent of technological innovations
and multichannel shopping platforms. The impact has been in terms of their popularity. Recent
news points to the fact that consumers of the UK have shifted from offline platforms to online
shopping (BBC News, 2018). This has led to the development of Multichannel Selling Platforms.
The multichannel platforms are gradually adopting online platform for their operations (Wright,
2018). They are also adopting new technologies such as modern decision making systems which
has aided towards increasing the profitability of the business.
This research aims to analyse how these traditional malls and shops are being affected. Further,
this research also identifies how this changing trend has influenced the decision making of these
traditional retail platforms. The research will adopt a robust research methodology to conduct the
study.
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Task 1
Planning the survey
a) Create a plan for collecting data from students across all campuses.
In order to effectively analyse the impact, an effective data collection has to be adopted. There
are two methods of collecting data. They are Primary data collection and secondary data
collection method. In Primary data collection method real time data is collected and is called the
primary data. Data from previously published research, reports, news releases, etc. are called
Secondary Data. The major challenge of secondary data is in terms of its scope and relevance of
use. Hence, this research will consider primary research methodology as the method of research.
A primary research uses survey questionnaire and interviews to gather and record relevant
information about the population considered for the study.
Primary research is associated with a sample which is an effective representation of the
population for study. In this research, the sample size of 100 pupils of the UKCBC College has
been considered. They are randomly selected. The Survey questionnaire method has been used as
the intended data collection tool. The questionnaire consisting of open-ended questions has been
distributed to the intended pupils during the Tiffin hours in the college campus.
The Ethics of Research has been adhered in this study through written permission from the
authority of the UKCBC. However, this research has been challenged through certain limitations
pertaining to the Time and Costs. The duration of the study and the Tiffin break has short time
span which has posed a hindrance. Further, the cost of purchasing relevant online journals has
also been a pressing concern.
b) Present the survey methodology and sampling frame used
There are broadly two methods of Data sampling which are Probabilistic Sampling method and
Non-Probabilistic Sampling Method. The non-probabilistic method of sampling is the ineffective
method of communication (Saunders, 2011). This method is not the appropriate representation of
the population. Hence, this method will result in ineffective research conclusion. The most
effective method is the Probabilistic sampling method because it forms the most accurate
representation of the population of the study. Among the various Probabilistic sampling methods
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the most effective method is the Random Sampling method. In random sampling method, a
random table is used to randomly identify the sample from the total population. This effectively
ensures that the each of the participants has equal opportunity of being selected in the sample.
Hence, this research will consider this method for selecting the sample for this research.
The primary research method will record both the Qualitative and the Quantitative data. Survey
method will be used to record the quantitative data while the Interview method will be used to
collect the Qualitative data. For the quantitative information, the selected sample will be
surveyed through the questionnaire. Interviewing 2 managers from the High Street Shops and
Malls and 1 Manager from a selected E-Commerce company will provide the Qualitative data.
c) Design a questionnaire for collecting the data.
The following section will provide the intended survey questionnaire required for collecting the
primary data. Further, the section will also provide the structured responses to the questionnaire.
1. Specify your gender
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Bellow 20 30 30 100
20 to 24 46 46 100
24 and above 24 24 100
Table: 2: Gender of the respondents.
2. Specification of the age
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Male 50 50 100
Female 48 48 100
Others 2 2 100
Table: 1: Age of the given respondents
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