Business Decision in Workplace : Report

BUSINESS DECISION
MAKING

INTRODUCTION
In the workplace of any organisation, several kinds of the problems and issues arise
which hamper the smooth business process to a greater level. It is mandatory to resolve such
obstacles by which an entrepreneur can easily achieve those purposes and goals which are
predetermined.. For conducting appropriate research, different number of statistical tools and
methods are considered by the scholar, which are described in the present project. The research
is on the basis of UK College of Business and Computing (UKCBC) in which satisfaction as
well as the experience level of students are analysed. It focuses on statistical tools and methods
like measure of dispersion, central tendency etc. which is supportive for making effective
business decisions. Beside this, the present project describes about the thematic analysis which is
taken into account by the scholar for analyse research problems and derive conclusion. At the
end of report, network diagram and financial tools are presented through which management is
able to make better decisions and meet with the determined time frame.
TASK 1
1.1 Plan or schedule in order to collect data and information for decision making
Data collection is been done in order to prepare a report. Data is being collected in two
initial ways, i.e. through secondary and primary data. Primary data is being collected via
questionnaires from students in four UKCBC campuses, Wentworth House Campus,
Cricklewood campus, Lords House campus, Holborn campus (Montes and Jorge, 2015). Sample
of 15 students is being taken. Collection of secondary data is based on books, journals,
magazines and articles published in by UKCBC colleges.
Research stages Details of researched data Budget
Secondary data
gathering
Data will be collected from secondary sources of
books, journals, magazines and articles.
500
Analysing of gathered
secondary data
Through analysis of secondary data collected. 860
Primary data gathering Data being collected from a sample of 25 students
across four campuses with questionnaires filled by
students.
950
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Analysing of primary
data
Collected primary data being analysed for statical
research.
1120
Report Preparation of report taking in account the base
data created from primary and secondary
collection.
290
Total budgeted amount for conducting survey 3720 GBP
Primary is ought to be precise and more reliable as to secondary data as the data collected
is present and collected with particular degree of compliance. Primary data collected cannot be
trusted completely as the views students may be biased regarding a particular topic (García and
Conde, 2014). Data collected from secondary sources provide a broader line of research. Primary
data provide a view of current trend among the students.
1.2 Presenting survey methodology and sampling method which is used
A survey can be done via a number of methods, these include questionnaire, interview
etc. The purpose of this survey is gathering of certain data by filling of questionnaires by
different people.
Sampling frame Simple random sampling: This method of sampling is considered as the simplest method
of sampling. Sampling is done by distribution of questionnaires among individuals on
discretion of distributor of the questionnaire. This method of sampling is used when need
of data is highly discreet. Cluster sampling: Under this method, distribution of questionnaire is done based on
geographical factors (Ford and Richardson, 2013). Units are samples are picked up from
these diverse geographical areas. This method is suitable when one wants do survey for
specific area. Stratified sampling: Under this method the population is divided into different parts on
demographic grounds. Units of sample are collected from these fragments of population.
This method is used when wants to know about people buying pattern or perception that
they have in respect to research subject.
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 Quote sampling: Sampling under this method done via distribution of population into
quotas, samples are picked up from these quotas (Zsambok, 2014).
In this research study scholar going of use simple random sampling method where it will
pick students on randomly basis. Further, in order to conduct survey and determine solution,
sample size of 25 students taken from the overall population studied in four campuses of
UKCBC college.
1.3 Questionnaire framing for gathering information
In the present study, primary data collected with the help of reliable source like
questionnaire which will be distributed among the students of all four campuses of UKCBC
college. Further, the questionnaire to carry out present survey are mentioned below:
Research Questionnaire
Demographic Information
Name: ________________
Gender: ________________
Age: ________________
Que. 1: From how many years you studied in UKCBC college?
 Last one year
 1 to 3 years
 3 to 5 years
 More than 5 years
Que. 2: From the four college campuses in which campus do you study?
 Wentworth House Campus
 Cricklewood Campus
 Lords House Campus
 Holborn Campus
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Que. 3: From the following, in which course do you study?
 Business management (BM)
 Journalism
 Information technology (IT)
 Engineering
Que. 4: Are you satisfy with the quality of learning materials which are provided by UKCBC
college?
 Highly satisfied
 Satisfied
 Moderate
 Dissatisfied
 Highly dissatisfied
Que. 5: As per your opinion, does UKCBC college provides all the required information in
adequate manner ?
 Yes
 No
Que. 6: Do you agree that, UKCBC college provides all the needed facilities in proper
direction?
 Strongly agree
 Agree
 Moderate
 Disagree
 Strongly disagree
Que. 7: Please rank (out of 10) teaching methodology of all the campuses of UKCBC college?
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____________________________________________________________
Que. 8: Do you want to recommend any suggestions to UKCBC college for improvement?
 Yes
 No
TASK 2
2.1 Summarising data which are collected for conducting survey
In order to conduct proper survey, primary source is considered i.e. questionnaire by the
scholar which is given among students of the UKCBC college. Data which is used in the present
study is summarised and upon it different statistical tools will be applied. Description of used
measure of central tendency is such as follows:
Mean: Very basic method which is used in statistic is mean value where the average
value of overall available data set is calculated in proper way. Under this, whole data added at
the initially and then divided by total number of population (Mean, Mode and Median, 2017).
Further, whatever outcome generated is considered as average or mean value in the statistics.
Mode: Another tool is mode, refers to the specific data or value which often or frequently
occurs in the total set of responses. When frequency of the data set is analysed then particular
value which is occurred frequently, that will be considered as the mode value.
Median: According to this tool, the whole data set is arranged in the ascending order at
the initial level. After that, calculation of median value is performed by in appropriate direction.
By considering this statistical method, when data is too much huge as well as large, then
management easily able to break into two equal parts (Ramsey and Schafer, 2012).
2.2 Analysing results and derive conclusion of survey
Q1: Students studied in UKCBC college from last some years.
Mean 2.56
Mode 2
Median 2
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