Report on Aspects of Decision making for UKCBC
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Added on 2020-06-06
Report on Aspects of Decision making for UKCBC
Added on 2020-06-06
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BUSINESS DECISIONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Data collections methods for UKCBC..................................................................................11.2 Survey and sampling for conducting survey.........................................................................21.3 Questionnaire for UKCBC....................................................................................................4TASK 2............................................................................................................................................52.1 Information tools for decision making process.....................................................................52.2 Data collection estimations...................................................................................................62.3 Dispersion.............................................................................................................................82.4 Quartiles, percentiles and correlation in business context....................................................9TASK 3..........................................................................................................................................113.1 Graphical presentation of students' views on UKCBC facilities........................................113.2 Trend lines for forecasting related to operations of UKCBC.............................................163.3 Presentation of gathered information related to services provided by UKCBC.................183.4 Business report....................................................................................................................18TASK 4..........................................................................................................................................184.1 Information processing tools...............................................................................................184.2 Project plan for activity and critical path............................................................................194.3 Financial tools for decision making....................................................................................22CONCLUSION..............................................................................................................................24REFERENCE.................................................................................................................................25
INDEX OF TABLESTable 1: NPV for investment planning..........................................................................................22Table 2: IRR...................................................................................................................................23Table 3: ARR for investment planning..........................................................................................24
ILLUSTRATION INDEXIllustration 1: Formula used for calculating SD...............................................................................8Illustration 2: Students from different campuses...........................................................................12Illustration 3: Satisfaction level of respondents with services provided by UKCBC....................13Illustration 4: The most attractive facility of college entity...........................................................14Illustration 5: Position of entity in market.....................................................................................15Illustration 6: Required services to be improved..........................................................................16Illustration 7: Trend line for forecasting........................................................................................17Illustration 8: Project activities......................................................................................................20Illustration 9: Gantt Chart..............................................................................................................21Illustration 10: Network diagram...................................................................................................21
INTRODUCTIONDecision making in business operations is crucial for preparing effective planingprocedure to achieve its effectiveness. In this regard, different tools are used for informationprocessing and forecasting for further operations efficiently. The present report is based onunderstanding different aspects of decision making for UKCBC and analysing as well reportingits performance for upcoming audit. In this regard, different data collection methods andinformation tools for the organisation are to be described to identify entity's performance.However, attractive presentations for college's students' views regarding services provided byentity can be presented through this assignment. In addition to this, forecasting methods forbusiness activities of college entity is to introduced. Thus, learners are able to understand severalaspects of business decision making for UKCBC through this report.TASK 11.1 Data collections methods for UKCBCQuality Assurance Agency (QAA)UKCBC The college entity is to be reviewed by QAA in upcoming few months. Therefore, areport is to presented related to analyse students' views on facilities provided by organisation. Inthis regard, following plan (schedule) for conducting survey with students of the college entityfrom different campuses as:Duration of survey: All activities to be involved in conducting survey is planning to be donewithin 1 month. It evolves activities related to asking questions to students from differentcampuses of the college entity to analyse their views on organisation's services.Location: Survey is to be conducted in auditorium of UKCBC for asking questions to studentsregarding services provided by entity. Survey method to be used: For conducting this survey, analyst is to use tools like;questionnaire, interviews to ask questions related with college entity's performance. In thisprocess, a questionnaire is to be prepared consists of questions related to college's performance.However, he is going to ask questions with entity's 30 randomly selected students for analysingtheir opinions on facilities provided by UKCBC. 1
Types of data collection: There are several methods used for data collection at primary andsecondary level to analyse organisation's actual position and its potential for competitivenessand further operations. In primary data collection, information are gathered by conducting survey, face to faceinterview etc. However, actual position of entity in recent time is achieved which has nolink with past performance and future intention. While, for secondary data collection, information are collected by using ready andprepared materials linked with further operations. Resources to be used: Following resources are to be used for conducting this survey can bedescribed as below:Time resource: All activities are set to be implemented in a certain time period for datacollection and preparing strategies for further operations.Human resources: All involved workers for data collection, analysis and decisionmakers play vital role in analysing performance of UKCBC and further preparingstrategies related to organisation's performance. Physical resources: For collecting data, tools are used for sharing information asdecision support system (DSS), transaction processing system (TPS) and managementinformation system (MIS). Including this, for decision making regarding investment onoperations, tools are to be used as; net present value (NPV) and so on. Therefore, theseall physical resources are used for college entity and analysing its position for furtheroperations efficiently.Budget: For conducting survey, budget as investment planning for all activities is setaccording to action plan and required fund. It is helpful for optimum utilization of resources andfund for preparing strategies regarding further business operations. Therefore, for conductingsurvey with students from different campuses, 200 as investment amount is to estimated.1.2 Survey and sampling for conducting survey2
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