Business Decision Making Concept
17 Pages3450 Words372 Views
Added on 2020-10-23
Business Decision Making Concept
Added on 2020-10-23
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Business DecisionMaking
EXECUTIVE SUMMARY This report summarises as the concept of business decision making in order to analysecompetitive business environment. In the market research primary and secondary data are helpfuland it provide useful information which is beneficial for the company to take effective decisionswhich are important to get competitive advantage.
ContentsEXECUTIVE SUMMARY.............................................................................................................2Contents...........................................................................................................................................1INTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2Primary data collection................................................................................................................2Secondary Data Collection..........................................................................................................3Survey Methodology and Sampling Frame.................................................................................3Questionnaire...............................................................................................................................4Responses....................................................................................................................................6DATA ANALYSIS.........................................................................................................................7Primary Data................................................................................................................................7Secondary Data..........................................................................................................................13RECOMMENDATION.................................................................................................................15CONCLUSION..............................................................................................................................15REFRENCES.................................................................................................................................171
INTRODUCTIONBusiness decision making is the process in which management takes the importantdecisions for the growth and development of organisation. To sustain in the market for a longterm it is required to take better decisions which are helpful to achieve the objectives and targets.To grab more market share and take the advantage of competitiveness it is necessary for thehigher authority of firm to make better action plan so that maximum profits can generate. Tobetter understand this concept Full Discounted Ltd has been selected which is a discountedsupermarket chain in the United Kingdom. This report discuss about various topics such as:primary data collection method which is used in questionnaire, secondary data comprises the pastthree years information. Apart from this it also discuss about data analysis which is helpful toknow about supermarkets growth. TASK 1 Data collection As the data collection is the method which is used by the researcher in order to gatheruseful information by using distinct sources and with the help of it solution of a specific problemcan be identified. It is helpful to test hypothesis so that individual can know the outcome.Accurate data collection is beneficial to develop integrity and provide useful information to theresearcher so that better decisions can be taken for the growth of business. Full Discounted Ltdcan collect data in order to get useful information such as: taste, demand and market conditions.There are two methods of data collection which are primary & secondary. In primary datacollection questionnaire method is being used so that organisation can know the information incontext to the discount supermarket chain in the United Kingdom. It will also provide help toknow about the other competitors such as: B&M and Home Bargains. As a result company canknow how other corporation provides the goods at lower rate or discounted rate. Primary data collectionPrimary data collection is method in which data is collected by the researcher directly orfrom original source and it is more authenticated as compare to the secondary data. There arevarious methods through which information and data can be collections such as: interview,online source, questionnaire etc. It has divided into two parts which are qualitative datacollection and quantitative data collection. 2
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