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Unit 6 Business Decision Making Tools Report

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Added on  2020-06-04

Unit 6 Business Decision Making Tools Report

   Added on 2020-06-04

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Business Decisionmaking Contents
Unit 6 Business Decision Making Tools Report_1
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Create a plan for gathering of primary and secondary data:............................................11.2 Survey methodologies and sampling frame used:............................................................21.3 Questionnaire:...................................................................................................................3TASK 2............................................................................................................................................52.1 Interpretation of the data gathered:...................................................................................52.3 Analyse of measure of dispersion:...................................................................................62.4 Advantages of implementing quartile, percentile and coefficient correlation:................7TASK 3............................................................................................................................................73.1 Produce graph:..................................................................................................................73.2 Trend line:......................................................................................................................113.3 Covered in PPT...............................................................................................................12TASK 4..........................................................................................................................................134.1 Use of data methods in decision making........................................................................134.2 Network path:.................................................................................................................144.3 Investment appraisal tools:.............................................................................................15CONCLUSION..............................................................................................................................16
Unit 6 Business Decision Making Tools Report_2
Unit 6 Business Decision Making Tools Report_3
INTRODUCTIONThere is a need to make certain thinking which is required to make certain objectives in aneffective manner. The business objectives of the company can be made after analysing effectivestrategy (Ru and et. al., 2013). Although, this could be said that the company can make certainbusiness decisions in an effective manner. In this report, this can be said that the Balti Palace isexpanding its business operations in London. For that, their senior manager is making research inorder to know about the market efficiently. Under this, various graphs are used and make certaintools in order to render effective strategy. TASK 11.1 Create a plan for gathering of primary and secondary data:The data collection is the most important thing which are used by any company for makingresearch so that the business objectives can be achieved in an effective manner. There are certainthings which are required to consider while considering data which would further be helpful formaking the business objectives (Shapiro and Stefkovich, 2016). Which would helpful for makingresearch objectives effectively.But before going to make a plan for gathering data, there is a strong need to know aboutthe market where company is going to collect data. For gathering of the data, it has been find outthat the company will use primary and secondary data. These are explained in details:Primary data: The primary data is the data which is gathered for the first time. Although, thiscan be said that the primary data is used in order to make out certain tools that can be used formaking business objectives in an effective manner (March, 2013). Although, primary data is themost effective tool which can be used by the company for gathering data so that the businessobjectives can be achieved effectively. This is the data which shows an effective accuracy. Theprimary data could be attained while considering that the company can easily attain theobjectives. The data collected by using primary research method is that this is the most effectivemethod which would help out to make out efficient strategy.Advantages:The key advantage of the primary research objective is that the primary research methodis used by the firm for making business objectives efficiently.1
Unit 6 Business Decision Making Tools Report_4

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