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Business Decision Making

   

Added on  2023-04-04

20 Pages4456 Words473 Views
BUSINESS DECISION
MAKING
1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Collection of data for the research....................................................................................3
1.2 Sampling method and survey methodology.....................................................................4
1.3 Questionnaire for research................................................................................................5
TASK 2............................................................................................................................................7
2.1 Statistical tools and their application................................................................................7
2.2 Analysis results of descriptive tools and techniques........................................................8
2.3 Calculation Standard deviation.........................................................................................9
2.4 Calculation of quartile deviation and correlation...........................................................10
TASK 3..........................................................................................................................................11
3.1 Graphical representation of data.....................................................................................11
3.2 Trend line graph which assist to forecast.......................................................................13
3.3 Business presentation for suitable software...................................................................13
3.4 Formal business report of Murano Restaurant...............................................................13
TASK 4..........................................................................................................................................14
4.1 Information processing tools and their use within the business organisation................14
4.2 Network diagram............................................................................................................15
4.3 project evaluation method..............................................................................................16
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
2

INTRODUCTION
In order to pass the time, every organisation faces problems so that it is essential to remove
obstacles so that enterprise can attain effective results and performances within the business
environment (Dekker, Fleischmann and van Wassenhove, 2013). In recent time, managers using
such tools which demonstrate problems and solve it to make effective results and performances.
In this way, statistics is the best element which eliminates causes from the workplace to
determine high performances and results within the business enterprise (Bagdasarov, Johnson
and Mumford, 2016). In this context, present report is based on Murano restaurant which is
providing different types of food products in various part of London UK. They are working with
effective raw material so that customer can easily attract towards the company and its operations.
Thus, it is profitable to deal with various outcomes and performances at workplace.
In this context, present report covers collection of data to conduct research program within
the business. Furthermore, it includes questionnaire in which some questions are included for
conduct research program at workplace. Moreover, appropriate information tool are taken at
workplace for making decisions to deal with situation of company. In addition to this, trend
analysis covers in report which shows position of the chosen organisation. At last, there are
information processing tools which assist to prepare project plan at workplace.
TASK 1
1.1 Collection of data for the research
In respect to conduct research program, it is very important to understand the project in
better aspect. In this way, it is essential to collect data from primary and secondary sources. In
primary and secondary data high differences take place which demonstrate their better
importance at workplace. Both elements are use in same manner but in different context (Qin,
Liang and Wei, 2017). As results, if anyone intend to carry their research program, they have to
select a topic in which they want to carry their operations and outcomes. Until, not understand
about the project can create problem to determine solution for it. Thus, it is important to
demonstrate results and performances for ascertain results and performances. In addition to this,
to solve the business issues and problems, researcher take both type of data which assist to gain
competitive advantages and results in the better way.
3

In order to take results and performances, primary and secondary data are taken at
workplace which determine effective solution for undertake performances at workplace. Firstly
present study is gather secondary data to conduct research program at workplace. Hence, books,
journals, and many other reviews can be taken at workplace which demonstrates programs and
results in the better way (Nummela, Saarenketo and Loane, 2014). This assist to researcher, to
find solution for their topic in the better manner. In this way, they can find development for
related topics within previous research programs. After collection of secondary data, primary
data also gathered. In this way, researcher needs to take some questions in questionnaire. After
this, researcher will conduct this questionnaire from respondents (Dekker, Fleischmann and van
Wassenhove, 2013). In this way, appropriate sampling is requiring to be taken from researcher to
undertake results and performances at workplace. Through sampling method, sample unit will be
selected for conduct research program at workplace. Questionnaire can be given to each
respondent and primary data will be taken for this process. It is the entire process which can be
followed for collecting primary data and secondary data within the research (Bagdasarov,
Johnson and Mumford, 2016).
1.2 Sampling method and survey methodology
In the current research sample of the 50 people will be taken from the population. In this
aspect, appropriate sampling method can be used at workplace of Murano which assist to make
decisions at workplace (Zikmund, Babin and Griffin, 2013). In respect to this, formation of
sample for research program is taken which determine effective results and performances within
the business environment. Researcher often use variety of sampling method for conduct their
research program. Following are such sample method which can be used at workplace:
Simple random sampling
This method is majorly use by various individual at workplace. In this way, researcher
takes variety of research program at workplace to demonstrate effective results and performances
within the business environment (Mardani, Jusoh and Zavadskas, 2015). This is because, it is
very essential to determine solution for ascertaining research on the basis of age, gender,
occupation, and education level.
Stratified sampling method
4

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