Business Decision Making of Murano Restaurant

Added on - 21 Jul 2020

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BUSINESS DECISIONMAKING
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1...........................................................................................................................................31.1 Creation of plan for primary and secondary data..................................................................31.2 Survey methodology and sampling framing used.................................................................41.3 Questionnaire for a business problem..................................................................................5TASK 2............................................................................................................................................62.1 Create information for decision making using appropriate values.......................................62.2 Analyse the results to draw conclusions...............................................................................62.3 Analyse the data using measures of dispersion.....................................................................62.4 Use of quartiles, percentiles and correlation coefficient.......................................................6TASK 3............................................................................................................................................73.1 Produce graphs and draw conclusions on the information derived.......................................73.2 Trend lines in spreadsheet graphs to assist in forecasting for business information............73.3 Covered in PPT.....................................................................................................................73.4 Formal business report..........................................................................................................7TASK 4............................................................................................................................................94.1 Information processing tools.................................................................................................94.2 Prepare a project Plan for an activity and determine the critical Path..................................94.3 Use financial tools for decision-making.............................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONIn this competitive world, the business is required to make an effective decision in themarket which can help company to make them to get stable too. Even though the organizationhas alternatives of decision in which best one has to be chose. Normally, selecting the decision isthat which also provide the better result in entity which do have an analysis of variousinvestment scenario with the help of IRR and NPV. These tools do help in determining as whichwill provide the maximum return from investment in different areas. The report is based onMurano which is situated in London, England. Restaurant is founded in year around 2008 and itwas found by Angela Hartnett and Gordon Ramsay. They provide the best quality of foodsproduct to customers in great way. Assignment is such which will include primary and secondarydata produce a plan, although framing of samples and methodologies are also there too.Questionnaire, evaluation of information has to be done and use of different method is also therewith dispersion which has contribution in quartiles, percentiles and correlation that do concluderesult in right context.TASK 11.1 Creation of plan for primary and secondary data.Murano does come under the best restaurant which do provide the best services to theirclients in UK. Restaurant is that which look forward to new outlet in the heart of London.Management of the firm decided that they will take feedback from client related to their fooditems and services which will help them to open new branch in market (Aharoni, Tihanyi, andConnelly, 2011). For such thing Murano has adopted the primary and secondary method tocollect information. Research will help them to take better decision and to make proper strategiesby management of company.Primary source:It is being considered as the important factor and comes under the firsthand collection of information. As, this is such which do help in collecting the authentic datawhich do help in getting the idea about taste and preferences of customers that reveal currenttrend and scenario which do prevail the food industry of UK in better manner.Questionnaire:In this various questions are there which is required to be prepared andhas to be asked from many customers and candidates which does help in obtaining
information and knowledge in proper way. For many purpose, collecting data fromprimary and secondary. This will include the information and regarding to preferences oftoday's consumers and different factors in which business environment affects.Survey:It does face some interaction with respondents on particular topic is by askingthe determined questions and take feedback on some specific topic and for variouspurpose and making testing concept, knowing the customer satisfaction level etc.Secondary sources:Researcher also goes with second hand information which iscollected by the someone and already has been published in magazines and newspapersor book.1.2 Survey methodology and sampling framing used.Research for the Murano restaurant is such which help them to gather the information ingreat way and thus it makes them to make better decision for the longer period of time.Moreover, the company is that who uses the different survey methodologies and this help incarry out the various right information and data too (Ferrell, and Fraedrich, 2015).Methodology:-It is being considered as the selection method of survey which alsoprovide the different optimum things and result as well. Management of Murano has takendecision to collect information with primary and secondary method. Although a betterquestionnaire is such which has helped in making an effective research and provide the neededinformation in right context too. Even though there are some question which is being covered tohave different aspect.Sample framework: It is that which do consider the method by researcher with manyother respondents as well. Different method is that which cluster, stratifies and having randomcalling with many more too. Therefore, many things are there which needs to choose the randomsampling method and having almost 30 candidates with the given choose scenario from variouspopulation which include several question and it is being asked to questionnaire. Some of themain topic which is considered in this are as follows:Looking forward to have an open branch in UK.It is required to know the quality of product and services which they do offer to people.Strength and weakness with their current performance too in better way.
1.3 Questionnaire for a business problemThis is that which include the different important topics which needed to have questions.Questionnaire is done with various things that has an advantage in with comparison to otherthings like saving, collecting the various information etc. in various better manner too. Normally,behaviours are facts which can be collected in various great way too (Ford and Richardson,2013).QUESTIONNAIREName of a candidate:Residential Address:Email Id:Gender:1.) Is it profitable for restaurant to open a new branch in London?YesNo2.) Are customers happy with the decision or not?YesNoModerate3.) Are clients satisfied with the quality of products offer by the restaurant?YesNo4.) Is staff personnel behave properly or not?YesNo5.) Do you think that Murano is working well in their industry?YesNo6.) Do you think Murano is fulfilling the ultimate demands of customers?YesNo
7.) Is restaurant offer pleasant environment or not?YesNo8.) Is restaurant offer all type of food items or not?YesNo9.) Any suggestions for the Murano restaurant?..............................................................................................................................................................................................................................................................................................TASK 22.1 Create information for decision making using appropriate values1.) Is it profitable for restaurant to open a new branch in London?ParticularsRespondentsYes20No10Mean15mode0Total30Median15
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