Business Decision Making Models

This assignment delves into the realm of business decision making, examining diverse models employed in organizational contexts. It covers both classical approaches like IRR and newer techniques incorporating big data and analytics. The focus is on understanding how different models inform strategic choices, considering factors such as risk, opportunity, and ethical implications.

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1: Research plan for collection of data from various sources..................................................1
1.2 Survey methodology.............................................................................................................2
1.3 Questionnaire framing...........................................................................................................3
2.1 Sum up of collected data with proper interpretation.............................................................5
2.2 Analysis of results...............................................................................................................12
2.3 Calculation of various range and standard deviation..........................................................13
2.4 Importance of quartile, percentile and correlation and coefficient.....................................14
TASK 2..........................................................................................................................................15
3.1: Presentation of data by using various graphs and charts...................................................15
3.2: Trend line graphs...............................................................................................................17
3.3 : Covered in PPT.................................................................................................................17
3.4: Formal report preparation..................................................................................................17
TASK 3..........................................................................................................................................18
4.1 Information processing tools used in decision making.......................................................18
4.2 Network diagram.................................................................................................................19
4.3 Investment appraisal ...........................................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Business decision making is an important process that would help researchers to take
valuable decision regarding growth and development of an organisation. It is generally based on
strategies made by higher authority in relation to attain its aims and objective set by the
organization. Every decision making can lead to certain impact whether negative or positive term
that would help in success of research work (Groebner and et. al., 2011). Under this project
report a case of UKCBC college is being used to conduct a research regarding student and
faculties experience and satisfaction from the college. It help to produce a final results which can
not prompt action. In the first part of project comprises of a data collection plan from various
sources and by using appropriate methodologies. Data collection is based on conducting
questionnaires and interviews from youngsters and faculties of that particular college. In other
part of the task explains about calculation of collected data by using arithmetical mean, median
and mode. All information is being presented through different graphs and charts. And in last
cited of the project talks about various decision making tools and network diagram. After
summarising all research information valuable recommendation is being provide in relation to
UKCBC college.
TASK 1
1.1: Research plan for collection of data from various sources
In the process of data collection to measure respond of youngsters and faculties about
their experiences and satisfaction. This will help researchers to get some answers through asking
questions, testing impact of research and evaluating final outcome after all this research work.
Data would be collected from interviews, phone calls and questionnaires from various
respondents (Vercellis, 2011).
Location of data collections are from four campuses of UKCBC colleges like:
 Lord House campus
 Cricket wood campus
 Park Royal campus
 Went werth House
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The research is conducted from above mentioned four campuses will required more than
5 weeks time to know exact results and information and responses from various students and
faculties (Zsambok, 2014).
For conduction this research the minimum cost required during this process is 2000
pound and maximum is 5000 pounds. These cost are used in hiring people who are going to do
survey and to carry more than one college it will be essential to prepare total estimation of cost
incurred during that precess.
Under this research different methods of data collection includes interviews and
questionnaires or surveys and document and records preparation. Asking questionnaires from so
many students are use to know about different views and responses.
Sampling framework: Under this project report random samples is use from other
campuses of UKCBC colleges. Sample size of 100 is being used under this project to ask
questions through various group of students and faculties from other campuses.
Qualitative data collection is being used in this project because individual interviews and
target groups are being used to compile various questionnaire from number of responded.
Primary source are being focused more under this research as they are new and fresh. All
the information and data collection are being done for the first time in the colleges. While some
of the data are being use from past just to know about impact in current situations. So statistical
data are being used as secondary data to conduct this research work (Laudon and et. al., 2012).
1.2 Survey methodology
Research can not be completed without using appropriate methods in to it. This includes
systematic investigation of quantitative characteristics by asking narrow questions and collection
of mathematical data to evaluate its utility in future. Survey methodologies is being used to make
business decision. It comprises of theoretical and practical evaluation of information those are
linked with study of knowledges. Types of research used under this project are:
 Descriptive: It includes surveys and facts finding those are collected from various
students. It includes certain characteristics of a group that being studied under this project
report.
 Qualitative research: these are those research which are being used to help in depth study
of problems and cases those are being faced by the researchers. It is mainly based on
quality of research work conduct during a particular situation of group.
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Under this research two of the methods like:
Conducting interviews in following manner those are being discussed underneath:
1st is Interviews which is personal interaction between each other among students and
researchers (Maxwell, Jeffrey and Lévesque, 2011).
 Face to face interviews: These are done by interaction between student one to one. This is
done to know about their response regarding their thought and views about their
experience in UKCBC college.
 Focused group interviewed: Under this method a particular group is being selected by the
researchers in order to know common reviews and act according to their reaction.
2nd is questionnaires which a complete set of questions regarding various aspects of
students and faculties satisfaction and experiences. It is generally paper based by distributing
number of sheet to college campuses and other is online filling.
There are different methods of sampling framework which help in conducting research
from allotted population. Some of them are:
 Simple random sampling: It is a kind of statistical population under which every unit or
individual of the sequence has equal possibilities of being chosen.
 Cluster sampling: Under this method researchers divided the population into separate
groups those are said to be clusters.
 Quota sampling: Collection of representative data from the selected group. It is an
opposite of random sampling it required individual out of selected sub groups.
 Stratified sampling: It is said to probabilistic distribution of population into various
groups or strata (Pettigrew, 2014).
 Systematic sampling: Under this method large part of group is being selected according
to a random of starting point and a fixed interval of time.
From all above mentioned sampling framework the best one is random sampling because
it is easy to select a particular group of segment so that information or queries of them are easily
being resolvable.
1.3 Questionnaire framing
It is a set pattern of printed or written questions with more choice option those are
required in relation with the purpose of a research or statistical study. It is done to collect
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information from so many respondents. There are different types of questions which includes
close ended questions those are divided as:
 Dichotomous only two option are available (García, Peñalvo and Conde, 2014).
 Nominal – polytomous, where respondent has more than two options
 Ordinal – polytomous, where the respondent ordered options.
 Continuous under this respondent are available in large scale.
Research objectives of questionnaire is to know about student and faculties experience and
satisfaction from their UKCBC college.
Q1. Does the college have the facilities of library, canteen, toilets and computer lab?
a) Yes
b) No
Q2. Is UKCBC college is providing E-learning?
a)Yes
b) No
Q3. Are the college is delivering superior student enquiry service?
a) Yes
b) No
c) Can't say
Q4. How is academic help in UKCBC college ?
a) Excellent
b) Good
c) Very good
d) Bad
Q5. Is classroom facilities are appropriate?
a) Yes
b) No
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Q6. Quality of learning material provided by UKCBC college?
a) satisfactory
b) Dis satisfactory
c) Other
Q7. Is admission procedure is flexible?
a) Yes
b) No
Q8. Attitude and behaviour of students toward faculties are?
a) Most appropriate
b) Appropriate
c) satisfactory
d) dis satisfactory
Q9. How well your personality is being improve after studying under this colleges ?
a) More then []
b) Less then []
Q10. Is learning will enhance your talent or skills?
a) Yes
b) No
c) can't say
Q11. Comments and feedback. If any?
Ans...............................................................................................
Thank you for your precious time.
2.1 Sum up of collected data with proper interpretation
According to the data collected from various responded by asking questionnaires from
them are presented in complete format of multiple choice options (Tzeng and Huang, 2011). On
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that basis appropriate interpretation is being done to identified whether how many of the
respondents thought are common and different (Yager and Kacprzyk, 2012).
Q1. Does the college have the facilities of library, canteen, toilets and computer lab?
a) Yes
[80%] 80
b) No
[20%] 20
mean 50
Median 50
mode 0
a) Yes [80%] b) No [20%]
0
10
20
30
40
50
60
70
80
90
80
20
The graphs are show the highest number of facilities provided by the college in relation
to library, canteen, toilets and computer lab in all together.
Q2. Is UKCBC college is providing E-learning?
a)Yes [70%] 70
b) No [30%] 30
mean 50
Median 50
mode 10
6

a)Yes [70%] b) No [30%]
0
10
20
30
40
50
60
70
80
70
30
From the following graphs it can be concluded that college is providing e learning facilitates and
this has been accepted by 70% of the students.
Q3. Are the college is delivering superior student inquiry service?
a) Yes
[50%] 50
b) No [30%] 30
c) Can't say
[20%] 20
mean 33.3
Median 30
mode 10
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a) Yes [50%] b) No [30%] c) Can't say [20%]
0
5
10
15
20
25
30
35
40
45
50
It has been ascertained that 50% of students are satisfied with the enquiry service of the
college whereas, the remaining students are against this arguments.
Q4. Academic support provided by UKCBC college is ?
a)
Excellent[60
%] 60
b) Good
[10%] 10
c) Very
good [20%] 20
d) Bad
[10%] 10
mean 25
Median 15
mode 0
8

a) Excellent [60%]b) Good [10%]c) Very good [20%]d) Bad [10%]
0
10
20
30
40
50
60
60
10
20
10
From the above graph it has been observed that college is providing excellent support
services to the students that's why they are in favour of the college and rest of them are
fluctuating views.
Q5. Is classroom facilities are appropriate?
a) Yes
[70%] 70
b) No
[30%] 30
mean 50
Median 50
mode 10
9

a) Yes [70%] b) No [30%]
0
10
20
30
40
50
60
70
70
30
More than 70% of the students are satisfied with the classroom facilities and only 30% think it is
not appropriate.
Q6. Quality of learning material provided by UKCBC college?
a)
Satisfactory[
70%] 70
b) Dis
satisfactory[
20%] 20
c)
Other[10%] 10
Mean 33.33
Median 20
Mode 0
10

a) Satisfactory[70%] b) Dis satisfactory[20%] c) Other[10%]
0
10
20
30
40
50
60
70
70
20
10
From above graph it has been noticed that quality of learning material provided by
college are helpful for students as 70% are in favour of the college and only 20% are against it.
Q7. Is admission procedure is flexible?
a) Yes
[80%] 80
b) No
[20%] 20
mean 50
Median 50
mode 0
11

a) Yes [80%] b) No [20%]
0
10
20
30
40
50
60
70
80
90 80
20
From this graph it has been observed that college is providing simple and easy admission
procedure to student as 80% are happy with that process and only 20% are not satisfied with
their process.
Q8. Attitude and behaviour of students toward faculties are?
a) Most
appropriate[
70%] 70
b)
Appropriate[
30%] 30
mean 50
Median 50
mode 10
12

a) Most appropriate[70%] b) Appropriate[30%]
0
10
20
30
40
50
60
70
70
30
Attitude and behaviour of student toward faculties and other staff are positive as it has been seen
in graph as 70% are appropriate to answer this question and 30% of responded are only approprat
with this.
Q9. How well your personality is being improve after studying under this colleges ?
a) More then
[80%] 80
b) Less then
[20%] 20
mean 50
Median 50
mode 0
13

a) More then [80%] b) Less then [20%]
0
10
20
30
40
50
60
70
80
80
20
From above graphs more than 80% of the students think that their personality are
changed after completing the course with this particular college and 20% do not think that
college is grooming their personalities in appropriate manner.
Q10. Is learning will enhance your talent or skills?
a) Yes[70%] 70
b) No[20%] 20
c) can't
say[10%] 10
Mean 33.3333333333
Median 20
Mode 0
14

a) Yes[70%] b) No[20%] c) can't say[10%]
0
10
20
30
40
50
60
70
70
20
10
From this graph it has been noticed that students after getting learning from college there
skills and talent will automatically enhance because 70% of them are in favour of this questions
and rest of them think that it will not change that much to the skills.
2.2 Analysis of results
From above mentioned interpretation of the data from asking questions from number of
respondent of various campus of UKCBC colleges (Solomon, 2014). On the basis of those
questions different calculation is done in order to identify percentage of people are satisfied with
the college. On analysed of those question it has be drawn certain conclusion that performance of
UKCBC college is most appropriate in the relation of young generation and other faculties of
that particular colleges (Gigerenzer and Gaissmaier, 2011).
To measure the frequency of athematic mean, median and mode will help to identified
percentage change in the results that are being covered under research project. By using all this
methods is easy to separate results and to make valuable decision regarding from used desirable
option. It will also help to maintain accuracy of the outcome for appropriate answer to the
questions. The limitation of the research is only up to 100 respondent of different campus from
those different types of questions is being asked to measure of central tendency.
With the help of those information it can be noticed that out of 100 students most of them
are in the favour of college and satisfied with level of education and other facilities offered to the
students. It will indicate that performance of UKCBC college is appropriate and good enough
and there is no need any kind of modification and changes has to be done. From research
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evaluation it has been found that student are more satisfied with level of education delivered by
college to them (Frey, Schulz, Hardt and Stahlberg, 2013). Study related query and issues are
being solve by class teacher in more effective manner. More them 80% of students are groom
their personality with proper learning and education. By getting such kind of improvement under
them can encourage them to attract more students and their friends to join this colleges. From
above representation of data and drawn graph indicate that various suggestion and analysis is
being generated after analysis of questionnaire. It has found that more than 80% of the students
are in support or satisfied with the college service provided in relation to education and
personality grooming of current students.
2.3 Calculation of various range and standard deviation
Weak
Total
students
Students
satisfied
1st 20 15
2nd 20 16
3rd 20 13
4th 20 11
5th 20 15
Total 100 70
Range
Min 11
Max 16
Standard deviation 2
Range: It refer to the value of those things which are in general manner. It is difference
among highest and lowest value. Like from above mention data it has been found that
15,16,13,11,15 . The minimum range under this is said to be 11 which is neutral and maximum
range under this is 16 very good categories of students who are in the favour of college and they
gain more experiences during learning phase.
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Standard deviation: It is said to be measure of dispersion from the set of data from its
given mean. For calculations of standard deviation square root of variances are determine among
each point of relative mean. If data point is away from the mean then it said to be higher
deviation. From the above mention data it is calculated as 2. It was seen that variety of range is
been come in terms of satisfy students deviation is 2 and with respects to total number of
enrolled students are increasing more and more every year because of eduction provided by
UKCBC colleges. Minimum and maximum range of data are used to know the level of students
form different ranges are experience from satisfied with observing variety of changes and
positivity is being seen in student after conducting such kind of research.
2.4 Importance of quartile, percentile and correlation and coefficient
Quartile: It refer to the division of groups according to the distribution of values of a
particular variables from given population. It is divided into three quartile as Q1 which is said to
be middle number between smaller values and second quartile is Q2 which is median of that
particular data. Or the last quartile Q3 is the mid value among median and the highest value of
data.
Importance of quartile:
The major advantages of quartile is to analysed variability summary of numerical value
as an important role of benchmarking. It represent 25% of data in Q1. It is useful in measurement
of position in data values.
In business decision-making if the range is of results are come in between average range
then it is acceptable and if it come below to 20% it can not be taken into consideration.
Percentile: It refer to be a complete set of measure those are use in statistics that are
indicating values less with a given percentage of observation which are fall under that
categories. Like for example 20th percentile is the score which is less is 20% percentage of
measure can be found. It it the total estimation of values which are lies in range of 100.
Importance:
It will help to identifies opportunities and limits of research data those are selected from
various class interval. Standardised scores and percentile ranges are being directly related
through this range. A percentile of 80 indicated capacity of students in terms of 80%.
If percentile range comes to 100 then it is said to be positive in decision making and if it
falls to 100 and rises to 100 then it cont be taken positive for the decision-making.
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Correlation coefficient: It is said to be that measurement which determine the degree
between two or more variables associated with number of data collected during research work. It
is comprise of number that range between positive +1 and negative -1 that represent a complete
set of linear interdependences.
Importance:
It is single number that describe degree of linear behaviour among two set of data. If one
data is increases at the same point of time another two groups of variable are positive or direct in
relation.
Correlation coefficient are important part of decision-making as it guide in outcome if it
comes in between +1 to -1 then is suitable for decision and if it down to 1 it comes to be bad for
profit generation.
TASK 2
3.1: Presentation of data by using various graphs and charts
Pie-charts: It refer to that division of of outcome which is used to represent values of
those are collected during research from various number of colleges of UKCBC. Under this pie-
chart most number of satisfied students are found in those 5 weak of research survey. It is
divided to know about most number of satisfied students.
15
16
13
11
15
1
2
3
4
5
6
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From above pie-charts it has been shown that in 1and last week of survey number of
students are satisfied is 15 which is common but in rest weak it is identical in results as they are
fluctuating some of them are provided and sharing their view in positive way and some of them
are not taken that much interest. The students way of thinking is much more appreciable because
of their full support and interest they are shown toward their colleges that will help us to conduct
our research in well planned manner.
Bar char: It refer to be that data which are represented though bars those are relative to
amount that they are showing on that. It can have the tow option from which our data can be
presented one is vertical and other one is horizontal.
1
2
3
4
5
6
0 2 4 6 8 10 12 14 16
15
16
13
11
15
Weak 1st 2nd 3rd 4th 5th
Students satisfied
Illustration 1: Bar graph
From above mentioned bar char with using data collected from 5 weeks. It has been seen
that in 2 weak of research it has been observed that most number of students are satisfied with
the colleges and other facilities those are being offered by them. It indicated most valuable
impact of the UKCBC college as it will be helpful in increase goodwill and promotion of college
in entire country of UK that it is one of the finest colleges of London.
This bar graph represent collection of data from every week of research conducted from number
of respondents.
3.2: Trend line graphs
It is a kind of chart that shows different types of chart data which indicate information as
number of series those are being represented with a line which is said to be straight line segments
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called as markers. It most appropriate chart use by researcher under any kind of survey because it
present a complete picture through a line of positivity from this research (Craft, 2013). It is a
kind of geographical representation of with having different set of points indicating the range of
level on a single chart that is more reliable in collecting healthy response from the research.
1st 2nd 3rd 4th 5th
0
5
10
15
20
25
20 20 20 20 20
15 16
13
11
15
Total students
Students satisfied
From above line graph it has been observed that on the basis of data collected from number of
weeks at different campuses of UKCBC college. The total number of satisfied students are
comes mostly in the range 2nd week and minimum of students are who are responded less on 4th
week are only 11.
3.3 : Covered in PPT
3.4: Formal report preparation
FORMAL REPORT
To QAA
14th July 2017
Subject: A survey about student experience and satisfaction at UKCBC College
This project report summarise of various information about a research that is conducted
in different campuses of UKCBC college. It explains student satisfaction and experiences that
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they are gain from concern campuses. Relevant data is being collected from selected groups.
Basically, most of the groups are more co operative in providing valuable information in very
easy manner but some times it was found to be more difficult to get. Students from every class
with different fields some of them are from commerce, science and master degree also. All
information are collected very easily because they are excited to provide information and their
views in well pattern (Zolfani and et. al., 2013). This shows ample ways of their skills and
knowledge about their response. On evaluation on the collected data from various campuses of
UKCBC college those are situated different location like in other location where this college
provide such kind of learning facilities. The main motive of this research is to know that what
students and faculties are thinking about their college and what kind of experience they are
getting from completion of education. The satisfaction level of students are at higher side
because they are very much comfortable with the facilities those are provided by College.
Under this research there are certain limitation to this research as they are having problem with
running class of the sum students and some of the are business in their own work and few of
them are not interested to answer. After completion of research it has found that 65% of
students are satisfied with college and its facilities, 25% are moderate and rest 10% are not
satisfied because they are from outside states.
From above research project it has been concluded that positive responses are
generated from so many students and faculty members that most of them are highly satisfied
with college performance and its facilities those are being provided by the college.
TASK 3
4.1 Information processing tools used in decision making
Business management tools is very helpful in calculating solutions, applications and act
as a indispensable tool in transferring information from one level to another. Therefore every
organization uses computerized system for effective coordination between every department of a
company (Ford and Richardson, 2013). Basically information system is very much important due
to its roles and responsibility played in development or growth of a enterprise. One of major
advantage of this scheme is to keep record of all the necessary financial transactions on which
21

overall company is based as well as it helps in measuring the performance of their employees.
Along with this, main motive of information system is to provide accurate data in a systematic
way for increasing the productivity of a business by estimating future cost. Various information
tools are mentioned below :-
 Management information system:- It is an computerized database consist of all the
essential information which is helpful in decision making process. Basically an enterprise
use this method to maintain their regular records for effective running of whole business.
Apart from this, it plays a very eminent role in resolving barriers and obstacles by
providing necessary evidences which influence success of a company in different
manner.
 Decision support system :- According to this tool, it act as a mandatory part in a
decision making process. Their main motive is to provide aid to strategic management
during planning process as well as trying to introduce appropriate individual which will
help senior managers in success of a company.
 Office automation system :- It act as a useful tool in transferring information and data to
higher authority for effective decision making process. Basically it is very helpful in
boosting the morale of existing employees by implementing various improvement
strategies for example reduction in paper work. Main role of this tool is convert advanced
technology into mechanical form which act as a useful tool in performing their task in a
given time frame (Barlett, 2016).
4.2 Network diagram
It refer to be mutually beneficial relation among different groups, task activities as those
are having huge impact on a project. It is the combination of arrows, boxes those are showing
various direction though a connected path of activity. In general term some time it is said to be
flow charts because data are represented in flowing manner with their time durations.
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From mention network diagram flow of path is being drawn as follows:
Path A: 1+2+3+7+8=21
Path B: 1+2+5+6+8=22
Path B: 1+4+7+8=20
According to mentioned network diagram it has been observed that there are just three
possible path can be drawn from the activity. Path A is taken 20 days to cover project while path
B is taken 22 days to finish a task and last path C is taking 21 days to complete a project. After
all the evaluation best possible path is first one which is taking 20 days. All the activities are
presented on assumption basis as they are no having a fixed data pattern. So best possible option
is path A because it will provide quick result to researchers (Provost and Fawcett, 2013).
4.3 Investment appraisal
It is a planning process that are used to determine whether long term investment like
machinery, new plants, new plants are worth the funding of finance through capitalization
structure. This basis of investment appraisal are important for the company to take most
appropriate decision regarding its business growth and to implement new strategies that would
help to increase profitability of the company. Under this two important aspects are being
calculated as:
 NPV: It refer to be the difference between the present values of cash inflows and present
values of cash outflow. It is used tool of capital budgeting that is being used to analyse
profitability of a project investment (Internal Rate of Return (IRR). 2017).
 IRR: It is said to be metric used in investment appraisal that is used to measure
profitability of possible investment.
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