Decision Making in Business Operations

This assignment discusses the significance of decision making in business operations, highlighting the need for managers to make appropriate choices based on project sustainability. It explores various tools such as dispersion measure and arithmetic progression that can be used to determine project feasibility. The assignment also touches upon human resource management, green supply chain performance measurement, and conflict resolution, emphasizing the importance of considering environmental and social risks in business decision making.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Use of plan in collecting data through primary and secondary format............................1
1.2 Use of sampling method and survey methodology..........................................................2
1.3 Use of questionnaire in relation to data............................................................................2
2.1 Creation of information on the basis of questionnaire.....................................................4
2.2 Use of mean, median and mode and its analysis..............................................................4
2.3 Analysis of data using measure of dispersion with including standard deviation............5
2.4 Benefits of quartile, percentile and correlation coefficient in business context...............6
TASK 2............................................................................................................................................7
3.1 Preparation of charts, graphs in making a valid conclusion.............................................7
3.2 Creation of trend lines in future forecasting.....................................................................9
3.3 Business presentation.....................................................................................................10
3.4 Formation of formal business report to senior authority................................................10
TASK 3..........................................................................................................................................11
4.1 Information processing tools advantages to beneficial decision making.......................11
4.2 Formation of critical path management..........................................................................12
4.3 Benefits of financial tools in relation to make beneficial decision................................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Manager has to take an effective decision for company and it is not much easy for them
because this will provide affect to entire working process either in a direct or indirect way. For
above stated aim, they will take assistance of information as well as data because it will support
them into decision making procedure (Bhattacharya and et. al., 2015). Present assignment is
based on Murano which is a restaurant and set up in UK. They are providing best and effective
items and services to customers which assist to fulfil their needs and wants proficiently. They
conduct research to get viewpoint of people. Along with, this project is going to describe many
tools which help manager in judgement process, such as mean, mode, median and many others.
Additionally, graphs are also presented to show the results effectually.
TASK 1
1.1 Use of plan in collecting data through primary and secondary format
Employer has to formulate proper plan because this helps them to fulfil overall work
systematically. It will include each and every exercise that is linked with project. To know needs
and requirements of clients, manager will conduct research in an appropriate way. In context of
Murano, they want to begin an another outlet in London so that, they will acquire more success
as well as development (Franks and et. al., 2013). Along with, they want to provide items and
beverages to customers which will satisfy their demand. They will get review from people
regarding selection of location. For this, they will use two techniques and these are stated as
below:
Primary data: It has been examined that this sort of data is related to current period and
very specific. By utilizing this tool, manager will easily collect viewpoints of many individuals
by maintaining proper communication with them. Foremost limitation of this method is, it
consumes high cost as well as time. To gather information by using this technique, superior of
Murano will formulate an adequate plan which assist them to do entire work systematically.
Along with, it aids them into maximum period of time. Some of main methodologies which will
comprise into this, such as questionnaire, survey and many others.
Secondary data: If employer is going to use this kind of tool to collect data as well as
information then, this will associated with past (Gaillard, 2014). Several methods which will
involve into this, like newspaper, books, internet, magazine, research paper, journals and so on.
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It is essential for manager to evaluate these info properly as it assists them to take an effective
decision for company.
Therefore, in this report superior will utilize primary source of method so that they will
collect data proficiently because it helps them to accomplish requirements and demands of
individual. Additionally, they will easily take benefits from rivals at marketplace (Hartman and
et. al., 2014).
1.2 Use of sampling method and survey methodology
If manager of an association is going to conduct research then, it is essential for them to
chose some persons and they called as sample. With assistance of them, they will organise
research effectively. Investigator will use sampling method as this is considered as much easy
tool and under this, they will choose some individuals. Henceforth, there are some sorts of
sample techniques which are portrays as beneath:
 Stratified sampling
 Random sampling
 Cluster sampling
It has been evaluated that by using method of survey manager will collect data more effectively
(Kahraman and et. al., 2015). In this assignment, investigator is using random sampling
technique. For this aim, they selected 80 people on random basis. There are various kinds of
methodologies which will be utilized by superior of Murano so that he will gather requisite data
or information effectually, these are stated as below:
 Questionnaire
 Survey monkey
 Social media
Henceforth, manager will use questionnaire tool as this is considered as most suitable method.
With aid of this, they will take judgement in a proper manner. This technique will help manager
to get viewpoint of distinctive persons.
1.3 Use of questionnaire in relation to data
By using questionnaire manager will gather information as well as data in more adequate
manner with support of various persons (Mardani and et. al., 2014). This will be divided into
many parts, like close ended, open ended, grouped, un grouped and many others. As a result,
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employer of an association will easily take judgement for business. This will be much beneficial
for company as it helps them into their long term survival.
Therefore, a questionnaire is developed for Murano so that they will accomplish
requirements and demands of individuals effectively.
Questionnaire
Name:
Gender:
Age:
E- mail:
Q1. How many times you visited Murano in past six months?
a) Minimum 4 times
b) More than 4 times
Q2. As per you, value of items and beverages are reasonable according to their quality?
a) Yes
b) No
Q3. What sort of thing will gain attention of many people towards Murano?
a) Ambience
b) Location
c) Food and beverages
Q4. What is your perspective towards Mourano?
a) Positive
b) Negative
Q5. Are you satisfy with goods and services of restaurant effectively?
a) Yes
b) No
Q6. Give rating to the restaurant?
a) Best
b) Moderate
c) Low
Q7. As per your viewpoint, which location is bet for new outlet of Murano?
a) Rooftop
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b) Seaside
Q8. According to you, discounts and offers which are provided by manager is effective for
each client or user?
a) Yes
b) No
Q9. As per you, is Murano need to expand their opening and closing time?
a) Yes
b) No
Q10. Give any recommendations and suggestions?
2.1 Creation of information on the basis of questionnaire
With help of described questionnaire, manager will get viewpoints or thoughts of
individuals. Henceforth, data presentation related to Murano will be mentioned as below:
Question R 1 R 2 R 3 Total
1 35 45 80
2 65 15 80
3 25 15 40 80
4 75 5 80
5 72 8 80
6 50 25 5 80
7 50 30 80
8 68 12 80
9 70 10 80
Respondents are presented as 'R' and they are those persons who provided their answer of
all questions. This will help company to get appropriate decision which is much advantageous
for business and they will be able to survive at marketplace for maximum period of time. Along
with, they will get positive outcome in forthcoming time.
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2.2 Use of mean, median and mode and its analysis
Question R 1 R 2 R 3 Total Mean Median Mode
1 35 45 80 40 40 #VALUE!
2 65 15 80 40 40 #VALUE!
3 25 15 40 80 20 20 #VALUE!
4 75 5 80 40 40 #VALUE!
5 72 8 80 40 40 #VALUE!
6 50 25 5 80 37.5 37.5 #VALUE!
7 50 30 80 40 40 #VALUE!
8 68 12 80 40 40 #VALUE!
9 70 10 80 40 40 #VALUE!
Mean is a value which is acquired through average some numbers. It aids manager to get
better judgement; therefore, circumstances of duplication of data will get eliminated (Pettigrew,
2014). Therefore, it is must for company to analyse data as well as information so that Murano
will be able to cater qualitative services and products to customer effectually. From above
described data, it has been understood that there are many individuals who visited this restaurant
many times from last few months. The main reason behind this, qualitative goods and services
which capture attention of people.
Median, it is considered as a mid value which help to represent series. By doing this,
superior of company will easily manage entire factors in an effective and efficient manner. This
will help them to keep up their client base effectually. From above data it get concluded that
value of goods and services of Murano is much effective which pull attention of maximum
persons towards them. As a result, they will easily enhance their client base.
Mode: This provides assistance to examine each element in a proficient manner. If series
number expand then again and again then, every time this value needs to be calculated by
employer. It has been comprehended that, food and beverages help to attract many persons
towards them. Along with, quality and price is also affordable which will also motivate people to
visit Murano.
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2.3 Analysis of data using measure of dispersion with including standard deviation
Question R 1 R 2 R 3 Total Variance
Standard
deviation
1 35 45 80 50
7.07106781
19
2 65 15 80 1250
35.3553390
593
3 25 15 40 80 50
7.07106781
19
4 75 5 80 2450
49.4974746
831
5 72 8 80 2048
45.2548339
959
6 50 25 5 80 312.5
17.6776695
297
7 50 30 80 200
14.1421356
237
8 68 12 80 1568
39.5979797
464
9 70 10 80 1800
42.4264068
712
Variances: This will include overall variations as well as differences which will develop
at the time of distribution of frequency table. This will cater huge affect on relationship amongst
more than two elements or variables. Along with, it will provide influence to decision making
process of Murano. From above data it has been analysed that there are many people who
provide positive perspective to the company which assist them to improve brand image at
marketplace. Additionally, they will easily take benefits from their rivals at competitive world.
Standard deviation: It portrays that how a manager of company will expand their data
and in addition describe distance amongst value of mean. This will be evaluated through
identifying variation amongst each point of data. From above data it has been comprehended that
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there are many individuals who are satisfied with the products and services of company.
Therefore, they will visit Murano many times.
2.4 Benefits of quartile, percentile and correlation coefficient in business context
Question R 1 R 2 R 3 Total
Correlation
coefficient
1 35 45 80 -1
2 65 15 80
3 25 15 40 80
-
0.54341298
33
4 75 5 80
5 72 8 80
6 50 25 5 80
7 50 30 80
8 68 12 80 1
9 70 10 80
Rather than this, there are many values which will be examined and must have to
comprehend by manager. There they will take aid of two methods which are defined as beneath:
Correlation coefficient: This is considered as a number of series which define relation
amongst two or many variables; therefore, they will promote an effective work. A perfect
correlation is when it lays between 1 and -1. if it is more or less then, this will affect distribution
of frequency in an adverse manner. Murano is providing many types of offers and discounts to
customers which presents positive relations.
Quartile: With assistance of this, population will be classified into some proportionate;
thus, they will motivate working of employees. It assists to develop better understanding and in
addition aid to take an effective decision (Rosemann and vom Brocke, 2015).
TASK 2
3.1 Preparation of charts, graphs in making a valid conclusion
Theme 1: Many clients visited Murano many time in last six months
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0.8 1 1.2 1.4 1.6 1.8 2 2.2
0
0.5
1
1.5
2
2.5
0
0.5
1
1.5
2
2.5
35
45
Column B
Interpretation: Murano is much famous restaurant which is situated in London. This place is
located near to mall which aid to pull attention of many individuals towards them so that visitors
gathering is in large number over there. As indicated by above presented graph, it has been
comprehended that there are almost 35 respondents who visited restaurant less than 4 times, but
remaining individuals visited this place more than 4 times in past few months.
Theme 2: Value of items and beverages is much affordable for people
0.8 1 1.2 1.4 1.6 1.8 2 2.2
0
0.5
1
1.5
2
2.5
65
15
Column B
Interpretation: Prices of goods and services are much effective of Murano which motivate
individuals to visit this place again and again. This factor will aid them to capture attention of
numerous individuals towards them. As a result, they will take benefits from competitors at
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marketplace. From above graph, it has been understood that almost 65 people are favouring this
statement but remaining are not in favour of this.
Theme 3: Food and beverages of restaurant will aid to gain attention of many people
0.5 1 1.5 2 2.5 3 3.5
0
0.5
1
1.5
2
2.5
3
3.5
25
15
40
Column B
Interpretation: Murano is much popular place which is situated in London. Food and beverages,
ambience and location is much appropriate which aid to capture attention of many people
towards them. This will assist them to improve their market share and reputation of company.
From above presented graph, it has been understood that almost 25 respondents attract towards
restaurant because of their location and approximately 15 individuals visit this place due to
ambience. Remaining persons get attracted because of their quality of food and beverages.
3.2 Creation of trend lines in future forecasting
Theme 4: Perspective of many user is positive towards Murano
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Positive Negative
0
10
20
30
40
50
60
70
80 75
5
Column B
Linear (Column B)
Interpretation: As per the viewpoint of many people they are positive towards Murano. The
main reason behind it, that their quality of goods and services which is much effective as
compare to their contenders. From above presented trend line, it get comprehended that almost
75 individuals are favouring this argument but remaining are negative with this perspective.
Theme 5: People are much satisfied with goods and services of Murano
Yes No
0
10
20
30
40
50
60
70
80 72
8
Column B
Linear (Column B)
Interpretation: It has been evaluated that there are many individuals who are satisfied with the
goods and services of restaurant. Therefore, they want to visit this place again and again. As a
result, market share and reputation of an enterprise will get enhanced. From above presented
trend line it get understood that almost 72 persons are in favour of this, but remaining are not
favouring this argument.
Theme 6: Many individuals give rating to them as best
10

Best Moderate low
0
10
20
30
40
50
60
50
25
5
Column B
Linear (Column B)
Interpretation: Murano is much famous restaurant which is situated in London. They are famous
for their qualitative food items and attractive ambience. This assists them to attract many people
towards them. As a result, they will enhance their revenues effectually. From above trend line it
has been comprehended that almost 50 respondents give rating to them as a best, 25 individuals
gave them as a moderate, but remaining persons provide them rating as a lowest.
3.3 Business presentation
3.4 Formation of formal business report to senior authority
The Management
Murano Restaurant
Dated: 19th Feb 2018
Subject: Recommendation for new chain
Murano is one of a famous and appropriate small outlet in London with high quality products
and services. It is important to organise a survey and gather various respondent’s opinion
properly so that suitable implementation of project lead to get done. Management need to
improve several concern of new outlet in which first they have to improve staff behaviour and
working which need more and more training so that better and effective working could be done.
Along with this, it will also signify about location which have to be near to sea or at rooftop.
Moreover, it needs to be based on a theme so that more appropriate satisfaction of each and every
individual could be manage and maintain.
Thanks
XYZ
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TASK 3
4.1 Information processing tools advantages to beneficial decision making
Every type of company has to get data and information because this assists them to take
an effective decision which is advantageous for them (Smith, 2014). Manager has to
communicate required info to subordinates so that they will be able to accomplish their work in
an effective way. They will acquire support of some method; thus, they will transform data into
simpler manner.
Rather than this, data encoding is required because it helps to evaluate data appropriately.
Henceforth, there are certain steps which will be taken after by superior:
 Input
 Output
 Storage
There are several benefits which assist to apply everything proficiently:
 Communication
 Fulfil distant between many sort of cultures
 Data will gathered any time
 Create coordination amongst all companies
Thus, it has been analysed that above described pros are much helpful for Murano as it
assists to make their information system more simple. They will take aid of many techniques or
methods to manage data more adequately(Solomon, 2014). This will help them to take
judgement in relation to business enlargement.
4.2 Formation of critical path management
Superior require to regulate and control business activities are taking place appropriately.
They need to take care that benchmark which are set for project are fulfilled. So all employees
require that they perform tasks effectively, through which plan made by manager to accomplish
project is attained.
Administration of critical path is a tool which can be used to achieve programme formulated by
executive. Through this method which so not consist large duration, so firm is able to complete
targets within specified time frame. This technique is also beneficial as it specifies when project
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is going to start and end date. So, superior have complete knowledge of all activities that are
going to be taken place (Tjader and et. al., 2014).
Therefore, Murano human resource manager frame efficient project management plan; through
which they provide support to superiors to get tasks complete with help of staff members. So,
project are completed within deadlines and all subordinates function properly.
Murano palace critical path is as follows:
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4.3 Benefits of financial tools in relation to make beneficial decision
Organisation require sufficient amount of funds through which they can purchase
adequate resources to carry out adequate operations (Wood and Williams, 2014). So, investment
is an essential task which superior of every firm undertakes through which they are able to
design system properly. In Murano, manager need to make utilise resources efficiently through
which firm prosper with time. By evaluating projects so that they know that whether it will be
beneficial for firm or not.
Therefore, executive of Murano require that they have adequate funds available with them,
through which they can expand their branches in different nations. By opening restaurant in
London, where they will be able to generate good earnings for their business. These are two
options which superior can use to examine outcomes are as stated:
 Traditional technique
 Modern technique
These methods help organisation to make appropriate decision through which they are
able to determine future prospects (Zsambok, 2014). This inform about project utility and
contribution to firm progress. Net present value, internal rate of return and so on are various tools
which superior uses to evaluate results.
Project
Initial investment 190000
Cash flow Year 1 50000
Year 2 64000
Year 3 58000
Year 4 70000
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Project
Discounting
factor Discounted cash inflow
Year Cash Flow 12% Present Value
1 50000 0.893 44645
2 64000 0.797 51020.8
3 58000 0.712 41284.4
4 70000 0.636 44485
Total present value of
five years 181435.2
Initial investment of
year 190000
Net present value
(Total discounted
cash inflow – initial
investment) -8564.8
Internal rate of return 9.94%
Through above calculation, it can be concluded that net present value of project is
adverse. So, firm will not be earn adequate profit in future time, which will thereby affect
business operations. Since, organisation is in disadvantage and will result in loss; as they are not
able to earn nearly 12% return; so they must not start this project.
CONCLUSION
As per above report, it can be concluded that executive of every type of firm is require to
make appropriate judgement for their business operations. They require to acknowledge that
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their enterprise need to expand branches in different nations or not. Superior uses various
primary tool to know requirements of people; so that they manufacture goods and services
accordingly and delivering them timely. Dispersion measure and arithmetic progression are
various tools that can be used to find project sustainability. In this assignment, human resource
manager is able to make appropriate decisions for their business by using presentation and trend
line.
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