Survey methodology and sample framing for business decision making INTRODUCTION 1 TASK 11
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Added on 2020-06-03
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Business Decision Making INTRODUCTION 1 TASK 11 1.1 Plan use for collecting primary and secondary data1 1.2 Present survey methodology and sample framing used by QAA 2 1.3 Questionnaire for business problem 3 TASK 24 2.1 & 2.2 Information creation by representing value and analyse them 4 2.3 Data analysis by using measure of dispersion7 2.4 Use of quartile, percentile and correlation coefficient8 TASK 39 3.1 & 3.2 Graphs and interpretation 9 3.3 Covered in power point16 3.4 Formal business report with suitable findings and recommendations 16
Survey methodology and sample framing for business decision making INTRODUCTION 1 TASK 11
Added on 2020-06-03
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Business Decision Making
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Plan use for collecting primary and secondary data..............................................................11.2 Present survey methodology and sample framing used by QAA.........................................21.3 Questionnaire for business problem......................................................................................3TASK 2............................................................................................................................................42.1 & 2.2 Information creation by representing value and analyse them ..................................42.3 Data analysis by using measure of dispersion.......................................................................72.4 Use of quartile, percentile and correlation coefficient..........................................................8TASK 3............................................................................................................................................93.1 & 3.2 Graphs and interpretation............................................................................................93.3 Covered in power point.......................................................................................................163.4 Formal business report with suitable findings and recommendations................................16TASK 4..........................................................................................................................................164.1 Decision making by using information processing tools....................................................164.2 Identification of critical path...............................................................................................174.3 Decisions making with the help of financial tools..............................................................18CONCLUSION..............................................................................................................................19REFERENCES .............................................................................................................................21
INTRODUCTIONFor any business it is compulsory for management to use data and informationwhich is related to their operation in taking effective decisions. Managers or researchers have togather all relevant sources of information which are associated with an organisation and thenevaluate them in formulating strategies (Barry and Edgman-Levitan, 2012). These schemes caterlong term benefit to a company by providing them strength in taking appropriate judgements. Fortaking a decision, entities conduct a survey on different number of population for producinggoods and services. There are various kinds of survey methods used by a company inimplementing a powerful strategy for company. Present assignment is based on UK college ofbusiness and computing who want to organise a survey on different groups of students ofinstitute and by using statistical tool . For this purpose, college authority gives this work toQuality Assurance Agency who provide a data on various number of students. For making aresearch better and effective, a proper plan has to be formulated with the help of questionnaireand survey by different methods. Data which is collected through various methods have to getsummarised so that it become presentable in nature. At last, college use by consulting financialstatement, viability of their new project get analyse that is it beneficial for them or not. TASK 11.1 Plan use for collecting primary and secondary dataPlanning is an essential tool which every individual has to take in account. This provide aframework on which all task and work is to be done appropriately (Brynjolfsson, Hitt and Kim,2011). In business decision making, a person have to create a framework on which wholeresearch gets accomplished effectively. A perfect plan includes time duration in which theinvestigation has to be done, various locations on which it is executed, methods, budget etc. Allthese things are included in making a successful report. QAA have to create a plan which enablesthem in collecting primary and secondary data. A perfect plan for conducting a research onstudents are as follow: 1.Time duration: For any research, it is compulsory for an entity or an organisation to set atime limit in which they have to complete the research process for collecting data. Itincludes time limit of two days, three days or whatever time required. 1
2.Location: Majorly there are four main campuses established by the college all over theUK and now they want to set up another one. For this they have to gather the informationfrom students. This factor is helpful for them because at different location they getdifferent views of students (Craft, 2013). 3.Methods to be used: There are various techniques that can be used by researcher to makevalid conclusion of data. But two mostly used approaches are qualitative and quantitativetechniques. By using these methods, it become easy for QAA to interpret data easily.4.Types of data: There are various forms of data collection but some methods are widelyused and whole statistical data is around these survey methodologies. Some of them are: PrimarySecondaryQualitativeQuantitativeEssential component of every business is their budget. Management have to set a budgetin which they have to include all such cost which is important for them at the time of research.For better and effective data collection, a plan has to be formulated by researcher in which allthese things have to be included. This make the research more effective. 1.2 Present survey methodology and sample framing used by QAASurveys are generally conducted on population for getting their views about a particularsituation. Methods are all such techniques which are used for collecting data from large numberof respondents (Cronan and et. al., 2011). For conducting a better survey there are variousnumber of techniques used by researcher in making effective outcome. The various kinds ofsurveys methodologies are: 1.Questionnaire Few questions have asked to respondents on the basis of their experienceand satisfaction. This is one of a best technique to get the view point of various numberof people by selecting some from large number of population.2.Interviews: Another major approach which enable in getting the adequate informationsfrom individual is interview. At the time of personal interview all the views and opinionof a person get derived for concluding a beneficial decision for business. It incur moreand more cost as compared to others. 2
It is difficult for a researcher to conduct it on large number of population. Hence, for thispurpose an individual has to select a sample from the whole population in which all therespondents have different nature. Sampling is done by selecting some number of people. Forthis survey which is conducted on 4 location of college in which the number of respondent whichis choose by an individual is 80 (20 per campus). This help in making the research effective. Forthis survey, random sampling is used in which none of a respondent have a similar nature thanothers (Fassin and Buelens, 2011). 1.3 Questionnaire for business problemThis method is generally used for a purpose to conduct a survey on some respondent onwhich variety of questions are asked to them. These are done on few personalities through whichany organisation can get opinion of different number of respondent and conclude a valid thingout of them (Fernando and Chowdhury, 2010). The various types of questionnaires which can beused in business environment by researcher at the time of research.1.Structured questionnaire2.Unstructured questionnaire3.Open ended questionnaire4.Close ended questionnaire5.Mixed questionnaire6.Pictorial questionnaire For this research quality assurance agency used mixed questionnaire in which variety ofquestions are asked to 80 students of college in which their satisfaction related, problem relatedand experience related questions are arise. Several number of questions which asked byresearcher to respondent are as follow: Name: Class:Age: Contact number: Email: Q1. Are the services which provided by college authority are appropriate in nature? Yes No3
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