Business Decision Making

BUSINESS DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Developing plan for data collection.................................................................................1
1.2 Presenting a survey methodology and sampling frame....................................................2
1.3 Designing the questionnaire which helps in acquiring all the information......................3
TASK 2............................................................................................................................................5
2.1 Compressing the gathered information with the help of representative values................5
2.2 Drawing conclusion over surveyed details.......................................................................6
2.3 Implication of measures of dispersion..............................................................................7
2.4 Analysing the quartile, percentile and correlation coefficient..........................................7
TASK 3............................................................................................................................................8
3.1 Presenting the graphs which represents a valid conclusion over presented survey.........8
3.2 Preparing an analysis of sales and profits retain by a business through Trend line graph10
3.3 presenting poster which contains all the findings...........................................................14
3.4 Writing a formal report...................................................................................................15
TASK 4..........................................................................................................................................15
A ..........................................................................................................................................15
B ..........................................................................................................................................16
C ..........................................................................................................................................17
D...........................................................................................................................................17
E............................................................................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
To analyse the changing consumer behaviour and preferences which impacts the
businesses on various segmentation. These are in information which in turn will be effective and
suitable for appropriate decision making. In present report, the main emphasis is payable over
analysing changing behaviour of consumers with shopping through high street shops and malls.
This will be beneficial in terms of making proper analysis over the facts which help in analysing
the convenience level of consumers. It also comprises with various surveys and data collecting
technique which will be measured with the help of representative’s values and measures of
dispersion. There is analysed data will be communicated among the professionals to make
necessary changes into operations as well as plan the business objective which matches to the
consumer needs.
TASK 1
1.1 Developing plan for data collection
The changing environment operations as well as implications of various technologies
which in context with a funnel to the professionals from various businesses as to make necessary
changes in their operational activities. Thus, the report consists of analysing the technical
changes influence consumers buying behaviour. The technical advancement will be effective and
helpful to the business in terms of covering a large number of consumers as well as have fruitful
growth in sales and revenue. On the other side, it will be convenience to the consumers as to
have the satisfactory level of products and services from the retail stores. Therefore, in relation
with analysing the factors which mainly influences the shopping behaviour as well as business
activities which will be analysed through various data collection techniques such as:
Primary data collection:
These are the information which in turn will be effective and adequate for the business
management as well as brings the accurate details relevant with the facts and issues. Thus, it
consists of assorted informant of data gathering such as observing the focus group. Preparing
questionnaires, taking interviews and study over various cases. Therefore, it brings the clear
details and analysis through all the issues (Baker, 2018). However, with the influence of such
techniques and methods of collecting the data will be effective and helpful to determine the
consumer preference, current market trends and fashion stated in the environment. On the basis
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of such collected information the professionals will become able to make necessary changes into
operations. They will be get to known consumer’s wants and demands which will provoke them
in making effective decisions. Therefore, there will be appropriate development of techniques
and operations which in turn have effective impacts over sales and profitability of the
organisation. Similarly, in the present study to analysing the impacts of technical changes into
the operations of retails and small businesses there will be preparation of questionnaires which
will be asked to 30 professionals which in turn make necessary changes into operational
activities of the business. They will correspond their views and ideas which gives the quick
review to the issues faced by the business in the current times.
Secondary data collection:
These are mainly examined the annual reports, assemblage information through internet
sites, articles, blogs as well as research over newspapers articles. Therefore, the use of various
secondary sources of data aggregation which in turn will be influential as to have right
information and details regarding the facts (Ferrell and Fraedrich, 2015). Moreover, this method
will be convenient, suitable and prominent in relation with covering the large areas and gathering
the effective information there can be use of several techniques which in turn has the positive
impacts over preparing the effective plans and forecasts which leads them to manage the
lucrativeness and intensify their product line in the market.
1.2 Presenting a survey methodology and sampling frame
Collecting data and information from different lactations, area and the group of
population there will be consideration of various activities which in turn will be effective and
helpful as to use the right techniques of generating the ideas. (Zsambok and Klein eds., 2014)
Similarly, in relation with collective the effective data and information through market there will
be implication of various techniques and operations to gather the relevant information.
Survey methodology: this a statistical approach which enables the researchers for
analysing the human behaviours. It will have done on mass population, individual unit. This
survey includes preparation of questionnaires and number which in turn helps in improving the
accuracy of outcomes (Popovič and et.al., 2012). Thus, to analyses the shopping behaviour of
consumers on the basis of their preferences for buying the goods and services will be beneficial
to them as to have the most satisfactory outcomes. It comprises with preparation of various
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questions which will be helpful to students or researchers in analysing the problems and changes
n the recent times which has influenced the buying behaviour of consumers.
Sampling frame: to conduct a survey over mass units or population there will be selection
of the group with the help of various sampling techniques. However, in the present research
techniques there will be analysis based on various operational needs and wants of the consumers
as to have appropriate designing of the work (Ford and Richardson, 2013). Thus, it consists of
simple random sampling techniques on which the particular location will be randomly selected
and analysed as to have appropriate determination of the research issues. To analyse the buying
behaviour of consumers there has been preparation of various questionnaires and data set which
will be helpful to them for gathering accurate outcomes. It will be fruitful to the industries to
make necessary changes in their operational criteria.
1.3 Designing the questionnaire which helps in acquiring all the information
To fetch the exact issues and demands of the consumers as well as the impacts of
technical changes over business efficiencies. There will be consideration of various questions
which in turn will be effective as well as fruitful for analysing the respective factors such as:
Questionnaire
Demographic substance
Name:
Age:
Operating area:
Question 1. Do you accept that there has been changes in buyer’s purchasing power in a current
situation?
 Yes
 No
Question 2. The reduction in sales volume of organisation is due to business offering services
and products.
 Agree
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 Disagree
Question 3. Do you believe that the reduction in sales volume is due to changing preferences of
consumers in relation with purchasing goods from online sites instead of visiting shops and
malls?
 Yes
 No
Question 4. What do you think is the main reason and motive behind the consumer preferences
which vary their habit of purchasing products through online segmentation?
 convenience
 Satisfactory costs
 Effective comparison
Question 5. What do you think that employees’ female employees will have impacts over
consumer buying behaviour?
 Strongly agree
 Agree
 Disagree
 Strongly disagree
Question 6. According to you, what are the factors which provoke industries to operate the
online business instead of shops and malls?
 Cost efficient
 Large numbers of consumers
 Higher profitability during season
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