Decision Making Theories and Applications
Added on 2020-02-12
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BUSINESS DECISIONMAKING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Collection of data for the research........................................................................................11.2 Sampling method and survey methodology .........................................................................21.3 Questionnaire for research....................................................................................................3TASK 2............................................................................................................................................62.1 Statistical tools and their application....................................................................................62.2 Analysis results of descriptive tools and techniques.............................................................72.3 Calculation Standard deviation ............................................................................................82.4 Calculation of quartile deviation and correlation..................................................................8TASK 3............................................................................................................................................93.1 Graphical representation of data...........................................................................................93.2 Trend line graph which assist to forecast............................................................................103.3 Business presentation for suitable software .......................................................................113.4 Formal business report of Murano Restaurant....................................................................14TASK 4..........................................................................................................................................154.1 Information processing tools and their use within the business organisation ....................154.2 Network diagram ................................................................................................................164.3 project evaluation method .................................................................................................17CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
INTRODUCTIONIn order to pass the time, every organisation faces problems so that it is essential to removeobstacles so that enterprise can attain effective results and performances within the businessenvironment (Dekker, Fleischmann and van Wassenhove, 2013). In recent time, managers usingsuch 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 todetermine high performances and results within the business enterprise (Bagdasarov, Johnsonand Mumford, 2016). In this context, present report is based on Murano restaurant which isproviding different types of food products in various part of London UK. They are working witheffective 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. Currentlycited firm is operating its business in London and now it is planning to open its second branch inorder to gain high profit. By opening second restaurant entity can be able to enahce its marketshare and will be able to accomplish its business objectives. In this context, present report covers collection of data to conduct research program withinthe business. Furthermore, it includes questionnaire in which some questions are included forconduct research program at workplace. Moreover, appropriate information tool are taken atworkplace for making decisions to deal with situation of company. In addition to this, trendanalysis covers in report which shows position of the chosen organisation. At last, there areinformation processing tools which assist to prepare project plan at workplace. TASK 11.1 Collection of data for the researchIn respect to conduct research program, it is very important to understand the project inbetter aspect. In this way, it is essential to collect data from primary and secondary sources. Inprimary and secondary data high differences take place which demonstrate their betterimportance 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 toselect a topic in which they want to carry their operations and outcomes. Until, not understandabout the project can create problem to determine solution for it. Thus, it is important todemonstrate results and performances for ascertain results and performances. In addition to this,1
to solve the business issues and problems, researcher take both type of data which assist to gaincompetitive advantages and results in the better way. In order to take results and performances, primary and secondary data are taken atworkplace which determine effective solution for undertake performances at workplace. Firstlypresent 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 andresults in the better way (Nummela, Saarenketo and Loane, 2014). This assist to researcher, tofind solution for their topic in the better manner. In this way, they can find development forrelated topics within previous research programs. After collection of secondary data, primarydata also gathered. In this way, researcher needs to take some questions in questionnaire. Afterthis, researcher will conduct this questionnaire from respondents (Dekker, Fleischmann and vanWassenhove, 2013). In this way, appropriate sampling is requiring to be taken from researcher toundertake results and performances at workplace. Through sampling method, sample unit will beselected for conduct research program at workplace. Questionnaire can be given to eachrespondent and primary data will be taken for this process. It is the entire process which can befollowed 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 thisaspect, appropriate sampling method can be used at workplace of Murano which assist to makedecisions at workplace (Zikmund, Babin and Griffin, 2013). In respect to this, formation ofsample for research program is taken which determine effective results and performances withinthe business environment. Researcher often use variety of sampling method for conduct theirresearch program. Following are such sample method which can be used at workplace:Simple random samplingThis method is majorly use by various individual at workplace. In this way, researchertakes variety of research program at workplace to demonstrate effective results and performanceswithin the business environment (Mardani, Jusoh and Zavadskas, 2015). This is because, it isvery essential to determine solution for ascertaining research on the basis of age, gender,occupation, and education level. For gathering information about the market condition,2
consumer's choice researcher has taken support of simple random sampling method. It has helpedin gathering realistic information about the subject. Stratified sampling methodIt is another method which is used by most of the researcher within their research study.In this way, sample approach is determines demographic factor which can split population indifferent era. As per the demographic factors, sample unit population is divided in variety ofparts which ascertain for results and outcomes in the better manner. In this way, researcher canbe conducting same research in better way to create broad understanding (Qin, Liang and Wei,2017). Cluster samplingThis method is used in same context of stratified method. In this aspect, population isalso classified in different types of division in term of specific geographic areas. From the helpof different geographic areas, sample unit is taken from the population (Nummela, Saarenketoand Loane, 2014). Convenience samplingIt is another approach which is used for picking specific individual as respondents fromthe population. In addition to this, researcher takes one by one respondent from differentpopulation. One by one respondent will be given their view to ascertain results and performances(Zikmund, Babin and Griffin, 2013). Survey methodologyIn order to collect in-depth information about the market and consumers choice Muranoneeds to conduct survey. Questionnaire is the best tool which have been applied by cited firm inorder to gather detail about the market condition. With the help of questionnaire techniqueindividual become able to identify consumer's choice, their taste and their requirements. This issimple method and can support in collecting realistic information about market. 1.3 Questionnaire for researchName ___________Age______________Income__________In one month how much time you visit Murano restaurant1 ( )3
2 ( )3 ( )More than 3 times ( )Are you satisfied from the services of the restaurantAgree ( )Strongly agree ( )Neutral ( )Disagree ( )Strongly dissatisfied( ) Highly dissatisfied ( )Time to deliver the product is best within the organisationAgree ( )Strongly agree ( )Neutral ( )Disagree ( )Strongly disagree ( ) In the restaurant, in which factor you are giving importance to select convenience for dinnerCost of dishes( )Hygiene( )Ambiance ( )Nearness to house ( )Interior design of the company is playing very important role to make good image in front ofcustomerYes ( )No( )4
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