Business Decision Making Assignment - DG Fashions

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Business Decision Making
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................13.4: Formal report...................................................................................................................11.1: Sources of data collection................................................................................................21.2: Research methodologies and sampling framework.........................................................31.3: Questionnaire designing..................................................................................................4TASK 2............................................................................................................................................62.1: Designing data with the help of representative values....................................................62.2: Evaluation of data those are collected from research......................................................72.3: Analysing measure of dispersion....................................................................................82.4: Advantages of using quartile, percentile and coefficient correlation..............................9TASK 3............................................................................................................................................93.1: Different charts and graphs.............................................................................................93.2: Trend line......................................................................................................................133.3 Covered in PPT...............................................................................................................15TASK 4..........................................................................................................................................224.1: Preparation of Gantt chart.............................................................................................224.2 Critical path....................................................................................................................234.3 Calculation of NPV, ARR and Pay Back Period............................................................24CONCLUSION..............................................................................................................................26REFERENCES..............................................................................................................................27
INTRODUCTIONBusiness decision making process plays a crucial role for every single organisation. It canbe helpful for firms in managing the resources or it can help in expansion as well in targetedareas. Proper execution of determinations which has been made by senior authorities may adorganisation in hitting its targets (Rothman, 2017). In present report, DG Fashions which is aclothing retail company has been taken which is looking forward to expand its business. CEO ofthis retail corporation has decided to spread the business throughout the nation. Wembley Centralwhich is located in London is being considered as an ideal place where company can open itsoutlet. Report will show sources of data collection, advantages of using quartile, percentile andcoefficient correlation, it will also include various charts, graphs along with investment appraisaltools that will help organisation in business expansion.TASK 13.4: Formal reportREPORTTo,The Manager of clothing retail companyDate: July 31st, 2018Subject:“To determine the behaviour of customer related to opening an outlet ofDGFashions at Wembley Central”.Introduction:In this investigation, researcher have carried out the information which is related toperceptions of customers through which they can easily help in company in making effectivedecisions.Primary along with secondary data are two methods that can be used by company inorder to bring out the data.Methodologies:Researcher in present context have used various methods in order to draw more reliableoutcomes that can helpDG Fashions in opening an outlet at Wembley Central. Methods likedescriptive and qualitative methods are going to be used under this investigation by theinvestigator.Findings:1
With the help of using appropriate methods, it is required for researcher to selectrespondents where 50 have been chosen with the help of random sampling method. It is foundthat high in numbers respondents were pretty much happy because of the outlet is going to getopen near their houses or offices and because of trendy clothes that are being offered y thisorganisation. It has also been found that, outlet has offered fresh drinks as well that are beingconsumed by its customers which can be considered an an attractive factor.Recommendation:It is being recommended that, using of new and updated technology through whichcompany can promote its cloths. On the other hand,DG Fashions needs to focus on both qualityand current trends if they wants to sustain at marketplace for a longer period of time. On theother hand, making favourable policies for employees so that high turnover of employees can bereduced to zero.Organisation also needs to focus on some special offerings that can be offeredby them so that to grab attention of customers high in numbers.Conclusion:It is being concluded that, making effective decisions related to quality and trends can behelpful for organisation through which they can easily expand their business in a successfulmanner. Successful completion of investigation can help out company in opening up a wholenew outlet atWembley Central with taking help ofcustomers and through analysing thecompetition as well.1.1: Sources of data collectionData collection can be considered as an approach which aid in collecting informationwhich can be analysed in order to take appropriate decisions. Mainly, in business world companyuses two type of methods under data collection and these are: Primary and Secondary data. Inpresent context, CEO ofDG Fashions has decided to expand its business at Wembley Centraland have found out a suitable and ideal empty outlet. Organisation have chosen this placebecause it is and about 10 minutes away from Wembley Central Tube which is a walkingdistance (Pourshahid, Richards and Amyot, 2011). This will grab attention of customers high innumbers. In order to accomplish this objective, company have decided to create a data collectionplan where they will use different types of methods and these are given below:Primary data:Collecting information directly from the customers like face to face(interview, questionnaire, survey) or through telephonic conversation can be known as primary2
data. With the help of this, DG Fashions can easily gather authentic information. On the otherhand, this type of data can be considered as more reliable for making crucial decision-making.This type of data can be collected through many tools and these are given beneath:Research: An investigation can be known as one to one communication that is beingdone with respondents in order to collect relevant data. After when collection comes to an end.Researcher of DG Fashions can analyse it in order to make determinations.Questionnaire: This can be known as a method which includes multiple choice questionsrelated to set objective of DG Fashions which is business expansion at Wembley Central. Withthe help of this, seniors of this organisation can make effective decisions that will help companyin expansion (Sethi and Zhang, 2012).Public opinion polls:Under this type of method, where a poll is being taken with thehelp of sampling data from cross sections of public. Method can be stated as a survey that helpsin gaining maximum answers from customers or the respondents that has been chosen by DGFashions. Most high numbered questions can be helpful in hitting companies targets.Secondary data:This sort of data can be known as the information which has alreadybeen collected by philosophers, scholars, authors and so on. Some of resources under this arearticles, magazine, newspaper, past numerical data and other abstracts. This data can be used byDG Fashions where company can analyse situation from past to current.1.2: Research methodologies and sampling frameworkWhen it comes to make effective determinations company can use variousmethodologies.With the help of this, DG Fashions can easily look into different aspects likeproblems and issues and can resolve them in a systematic manner (Sinha and Labi, 2011). Thiscan be done so that company may not get into trouble while expansion at Wembley Central.Some ofsurvey methodsare given beneath:Descriptive research,is being considered as a way of investigation which involves aproper survey and organise a proper study which helps in determining all the facts that arepresent under the investigation. This sort of method includes data which is already beingestablished and can help out DG Fashions in business expansion.Exploratory research method,one of a kind method of investigation which carries anaim so that to explore all the survey areas and could not help out DG Fashions in gaining properinformation which may aid in opening an outlet atDG Fashions.3
Quantitative and Qualitative research methods,These are the two methods that can beused byDG Fashions through which they can collect information in both facts, figures andrelated to perception of selected respondents. After collection of data company may analyse theinformation that will help in business expansion atWembley Central (Tzeng and Huang, 2011).Sampling methods:This sort of method helpsDG Fashion's seniors in selecting therespondents depending upon the objective which has been set by the company.Sampling framing,In order to draw positive outcomes from investigation. It is prettymuch required for investigator to select the respondents through which they can easily grab data.It is essential to gather same samples from available group of customers. It can also becategorised among different sections and these are briefly described beneath:Random sampling:This is being considered as one of a sampling method which is beingutilised by organisations high in numbers. Respondents are being selected with the help ofrandom chosen numbers. On the other hand, there are some other selecting methods like Quota,stratified, Cluster and others (Xu, 2015). Investigator under this have selected 50 respondentsthat will helpDG Fashion in collecting the data. Apart from this, some of useful aspects are alsobeing covered while conducing this research and theseare mentioned underneath:Price they can easy affordQuality in service1.3: Questionnaire designingResearch over customer experiences and its satisfaction regarding opening of new clothingretail store ofDGFashion.QUESTIONNAIREName:Age:Gender:Occupation:Q1: What do you think ifDG Fashion has took right decision related to opening a newstore at Wembley Central?(a) Yes4
(b) NoQ2: DoesDG Fashionwill gain attention of customers high in numbers after establishingthe new store?(a) Yes(b) No(c) Can't sayQ3: What do you think about pricing policies that has been adopted byDG Fashion?(a) High prices(b) Low prices(c) Moderate pricesQ4: IsDG Fashion, manufacturing trendy clothes?(a) Yes(b) No(c) Can't sayQ5: What clothing products you like the most ofDG Fashion?(a) T-shirts(b) Jeans(c) JacketsQ6: In what section ofDG Fashion should make changes?(a) Manufacturing(b) Marketing(c) SalesQ7: Is quality of products ofDG Fashion helps in satisfying customers?(a) Yes(b) NoQ8: According to you, in future isDG Fashionbecome able of attract more customers?(a) Yes(b) NoQ9: What do you think ofWembley Central, London is it appropriate forDG Fashion toopen its new outlet?(a) Agree5
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