Business Decision Making of Murano

Added on - 21 Jul 2020

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BUSINESS DECISIONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Data collection plan...............................................................................................................11.2 Survey methodology and sampling framework....................................................................11.3 Questionnaire........................................................................................................................2TASK 2............................................................................................................................................52.1 Summarizing collected data..................................................................................................52.2 Central tendency and analysis.............................................................................................172.3 Dispersion and its derivation...............................................................................................202.4 Quartile and Correlation coefficient....................................................................................21TASK 2..........................................................................................................................................253.1 Graphical presentation of collected data.............................................................................253.2 Trend line method for forecasting on business operations..................................................263.3 PowerPoint presentation......................................................................................................273.4 Business report....................................................................................................................27TASK 4..........................................................................................................................................294.1 Information processing tools...............................................................................................294.2 Project plan..........................................................................................................................294.3 Investment appraisal techniques.........................................................................................31CONCLUSION..............................................................................................................................33REFERENCE.................................................................................................................................34
ILLUSTRATION INDEXIllustration 1: Using formula to evaluate mean................................................................................5Illustration 2: Used for calculating median of collected data..........................................................6Illustration 3: Project plan activities..............................................................................................30Illustration 4: Gantt chart..............................................................................................................30Illustration 5: Network diagram as project plan............................................................................31Illustration 6: Project plan..............................................................................................................31Illustration 7: NPV.........................................................................................................................32Illustration 8: IRR..........................................................................................................................32
INTRODUCTIONFor the accomplishment of the business, different choices and arrangements should beexecuted precisely. Notwithstanding, gathering of information and coming into a point in thewake of breaking down it very troublesome, it requires solid utilization of psyche and diligentwork. For this situation, concentrate earlier report will uncover the sharp understanding withrespect to the venture choice made for the concerned eatery. Aside from this, it will likewisecomprehend the present example that clients are taking after including their inclination. While atthe last stride, the venture getting ready for the reasonability of future speculations andmanageability of riches expansion is dissected utilizing different monetary instruments.TASK 11.1 Data collection planData are collected using different methods at primary and secondary level by whichactual position of organisation is identified.Primary data collection:Information are gathered through conducting survey, face toface interview, door to door asking questions and so on (Amaya and et.al., 2015). Therefore,actual position of entity can be gained by which different ideas can generate for furtherimplementations and business operations effectively.Secondary data collection:information are collected using ready and prepared toolssuch as; articles mentioned in newspapers, books and journal etc. As well, using socialnetworking sites for decision making on further business activities. Therefore, data collectionmethods are used for analysing position of Murano and its operations.In this project, for analysing performance ofMurano, researcher is to use primary datacollection method through conducting survey and generating ideas for further activities. For thispurpose, researcher selects respondents randomly for analysing their views on services providedby the restaurant. However, actual position of entity can be identified on which ideas aregenerated regarding its expansion and increasing quality services. Therefore, data are collectedthrough conducting survey and collecting respondents' views on services efficiently.1.2 Survey methodology and sampling frameworkSurvey:It is a process to identify respondents' views on services of Murano in differentways. In this process, researcher selects respondents in samples such as; systematic, simple1
random sampling and so on. Therefore, for analysing customers' opinion on its services,researcher is to use random sampling through selecting respondents randomly.Sampling: Random sampling method is used for survey and collecting data regardingfood and accommodation services of organisation. In this process, researcher preparesquestionnaire of questions related with its services and different ideas are generated forimproving its services and enhancing efficiency on large scale. Hence, survey is to conducted foridentifying actual position of organisation and increasing its food and accommodation facilities.For decision making regrading Murano restaurant, researcher is to conduct survey with20 people to identify its market demand. In this regard, he prepares questionnaire consists ofquestions related to food services and accommodation of the entity. Therefore, different ideas aregenerated for better quality services and satisfying its customers at maximum level.As indicated by the previously mentioned review, the essential research holds the mostelevated inclination over online review since it takes out the biasses in applying testingtechnique. Arbitrary testing accomplished for social affair reaction from the clients went byMurano as it requires to be done in a substantial scale. Be that as it may, the polls areappropriated in the field inside 3 days in regard to different administrations offered by Murano.1.3 QuestionnaireQ1. Please choose your age groupBelow 1818-2425-3132-3839-4546-52Above 52Q2. Tick your current occupationBusiness person2
Service holderRetiredStudentsProfessionalQ3 what is the frequency of your restaurant visit?Once a monthTwice a monthFrequentlyRareOccasionallyQ4. What is the purpose you come for?Family outingFriends birthday partyGet togetherBusiness meetingPersonal purposeOccasionsQ5. What are the attributes you would like in a restaurant?Food qualityPriceProduct varietyAmbienceService qualityStaffs behaviours and treatment3
Q6. What is the feature you like most in Murano?Food varietyInteriorLocationPriceService deliveryQ7. Are you satisfied with your current choice of restaurant?Highly satisfiedSatisfiedNeutralDissatisfiedHighly dissatisfiedQ8. Would you prefer to visit another restaurant to experience in another location?YesNoNot sureQ9. What else in the restaurant would you like to add for better experience?Taste of different regionsHome deliverySpecial dishes on occasionsSelf-service options for beverageQ10. Would you like to revisit the restaurant again in future?YesNo4
Not sureQ11. Would you like to refer the brand others?YesNoNot sureTASK 22.1 Summarizing collected dataData collection estimation is done through mean, median and mode. However, estimationcollected data as customers' views on services of Burano can be understood as:Mean:It is an average value on overall collected data evaluated by dividing sum ofcollected responds to number of participants who involved in the survey. However, usedformula to determine mean is as:Illustration1: Usingformula to evaluatemeanAgeMean18218-24525-31732-38339-45246-521Total205
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