Business Ethics and Decision Making

This assignment delves into the world of business ethics and decision making, emphasizing the significance of ethical considerations in organizational performance evaluation. It also covers the application of statistical measures such as central tendency and dispersion, as well as the creation of graphs and charts for senior management's consideration. The importance of data transfer pathways and time scale interpretation is also highlighted through the use of IRR and NPV. This assignment serves as a comprehensive guide for students seeking to understand the intricacies of business ethics and decision making in a real-world context.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for collecting primary and secondary data....................................................................1
1.2 Survey methodology and sampling frame.............................................................................2
1.3 Designing a questionnaire for study......................................................................................2
2.1 Dissemination of information...............................................................................................4
2.2 Analysis of data by using measure of central tendency........................................................5
2.3 Analysis of data by using measure of dispersion..................................................................5
2.4 Use of correlation coefficient for decision making...............................................................6
TASK 2............................................................................................................................................7
3.1 Creation of graphs and charts................................................................................................7
3.2 Use of trend line in interpretation as well as future forecasting...........................................9
3.3 Presentation of report with suitable graphs and charts........................................................10
3.4 Report presentation by devising all sections to senior management...................................10
TASK 3..........................................................................................................................................11
4.1 Use of software generated information...............................................................................11
4.2 Use of time scale for evaluating duration of project...........................................................11
4.3 Use of financial information in order to determine feasibility of project...........................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODUCTION
An appropriate judgement always support an organisation to grow and maximise
operations at a large scale (Ferrell and Fraedrich, 2015). In this context, it is the duty of
managers to take beneficial judgement which promotes and supports an association to grow and
maximise operations as well. This project is based on Murano restaurant which is one of the
well-established small firms in London with appropriate customer base. Many people proclaim
that they deliver high quality products to gain better and suitable outcomes. There are variety of
sources could be used by an organisation in order to collect primary and secondary data as per
primary and secondary basis. On the basis of such consideration, there are various techniques get
evaluated which need to understand by business managers properly and utilise them effectively
for business purpose. With collected information, data need to get presented in an appropriate
frame with suitable graphs and charts for better and effective working. Thus, for better and
appropriate decision making, software generated information need to implement in an
organisation.
TASK 1
1.1 Plan for collecting primary and secondary data
A major thing which supports any kind of investigation is primary and secondary data
process (Ford and Richardson, 2013). Business needs to evaluate both these methods and
techniques properly so that appropriate and suitable study will lead to get organised. Thus,
Murano needs to understand both these approaches properly and frame suitable plan to collect
information for new chain in other parts of London, UK.
 Primary data: One of the major sources for gathering information which is raw in nature
and organised on vast range of people is primary data. It is the type of study which
supports in gaining better and effective outcomes directly through an individual by
conducting interview, questionnaire survey, etc. Murano can use this technique for
evaluating appropriate and suitable aspects properly in order to determine the best
suitable results and outcomes directly through customers.
 Secondary data: This is another kind of data collection process but in never provides raw
information in nature but based on already propose studies. Such information for business
is in the form of previous balance sheet, past year’s profit, etc. These records are used for
1

deriving comparison between performances of a company. Murano can use this pathway
for evaluating the feasibility of future concern project by using past few records.
For collecting primary data, it is essential to formulate an appropriate and suitable plan which
includes:
Activities Days
Determine the problem 4 days
Evaluate appropriate method 4 days
Use and distribution of questionnaire 10 days
Gathering of information with analysis 15 days
This plan of Murano Hotel stated that for gathering information through primary source,
researcher need to interpret and analyse the data properly. For this consideration, they should
have to be focus on a define problem and evaluate it so that better results could be estimated.
1.2 Survey methodology and sampling frame
For every study, it is important to use appropriate and suitable survey methods to
conclude the best suitable outcomes (García-Peñalvo and Conde, 2014). Survey methodology
reflects about the use of various approaches and methods which enable in concluding better
suited result and outcome for better and effective gain. Survey methodology includes about
various approaches which have to be used by Murano so that better and effective working will
get promoted: Social media: One of the best ways to collect data from various sources or from large
population is social media. With a course of time, business managers are using social
media as a tool so that they will become able to gather various aspects properly and
effectively for better and effective customer responses. Murano can use social media as a
technique for analysing various individual aspects properly.
 Questionnaire: Another method for gathering data is questionnaire in which few number
of questions are included with concerned research. Many businesses can use it as an after
sales service to gather and collect information from various individuals. Murano lead to
utilise this approach for their better and effective working to gain all the best suitable
outcomes.
2

There are various kinds of sampling frame get identify which could be use in any
research so that better and effective gain become possible. In this aspect, several types of
sampling frame which suppose to use by Murano are as follow:
 Random sampling: One of a basic and most appropriate method of sampling frame is
random sampling method in which all individuals get selected randomly and no definite
structure. Thus, Murano could use this in their work through which all respondents get
selected randomly
 Quota sampling: This is based on specified subgroups and completely unlike from
random sampling which focus on randomly selection of individual. But quota sampling is
based on definite groups and whole information get gather through such individuals.
Murano survey uses questionnaire as a data collection tool which associates primary
method in which raw materials are used. Along with this, simple random sampling method is
also utilised to conclude better results with concentration on 80 respondents who are customers
of a company and belong to different income level group.
1.3 Designing a questionnaire for study
Questionnaire is one of the ways in which various questions get included in a project for
determining and gaining the best suitable outcomes (Gigerenzer and Gaissmaier, 2011). It
supports to derive better and appropriate results of a study in order to determine the beneficial
aspects. This questionnaire is based on 80 respondents who belong to various income level group
concern personalities. By performing the questionnaire survey, better and effective outcomes are
carried out by an organisation whom interpretation support better and useful aspects. This
questionnaire includes personal details of customers so that long lasting users of Murano are
going to take the benefits of various discounts and offer vouchers.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Do you like the cuisine of restaurant?
a) Yes
b) No
3

Q2. Provide rating for amenities of restaurant.
a) 1
b) 2
c) 3
d) 4
e) 5
Q3. Define your income in respect with disposable money on restaurant products and services.
a) More than €20
b) Between €20 to €50
c) More than €50
Q4. Did you ever notice or suffer from any kind of misbehave by staff?
a) Yes
b) No
Q5. Which location is the most preferable for new restaurant?
a) Near to beach
b) Rooftop
c) Disc and Pub
Q6. Is there any need to modify all related aspects of restaurant properly in new chain?
a) Agree
b) Neutral
c) Disagree
Q7. Who are the major competitors of Murano?
a) Cafe Concerto
b) Food for friends
Q8. Are the offers or discount provided by restaurant exiting in nature?
a) Yes
b) No
Q9. Provide rating for restaurant performance.
a) Appropriate
b) Need improvement
c) Not appropriate
4

Q10. Any further suggestions or recommendations?
____________________________________________________________________________
2.1 Dissemination of information
For every study, a major consent is to disseminate whole information in an appropriate
and suitable frame (Hwang and Masud, 2012). This will support in gaining and analysing better
as well as effective results so that chances of better gain will become possible. In the business
organisation, if any survey leads to take place, management needs to disseminate complete data
properly. This will support senior management to understand them properly and effectively.
Although, chances of better and effective judgement leads to get rise. Murano has to disseminate
each and every single data in an appropriate frame so that senior management will understand
aspects properly for making the best suitable judgement for new restaurant chain in other parts of
UK.
Ratings R1 R2 R3 R4 R5
1 45 35
2 10 10 10 20 30
3 20 40 20
4 35 45
5 35 35 10
6 25 15 40
7 40 40
8 42 38
9 40 10 30
2.2 Analysis of data by using measure of central tendency
Ratings R1 R2 R3 R4 R5 Mean Median Mode
1 45 35 40 40
#VALUE
!
5

2 10 10 10 20 30 16 10 10
3 20 40 20
26.66666666
67 20 20
4 35 45 40 40
#VALUE
!
5 35 35 10
26.66666666
67 35 35
6 25 15 40
26.66666666
67 25
#VALUE
!
7 40 40 40 40 40
8 42 38 40 40
#VALUE
!
9 40 10 30
26.66666666
67 30 #VALUE!
Mean is an average of a series which can be of both continuous and discrete in nature.
The mean is equal to all set data divided by number of values of data. On the basis of this
information, mean value of series is 40 and 26 most. Cuisine average value is 40 where as
income values have 26.67 mean. Median is another measure of central tendency which signifies
middle value of the arise series. It get vary with a frequency data of a series and thus, managers
need to take them in consideration as well properly. Mode is define as most occurring frequency
of a series. Similar group of respondents provided range to set higher values or lower value for
product. Hence, management need to take such aspect in consideration properly and effectively.
On the basis of provided information, staff need to be more trained in frame as well as sea side
location is most suitable for another chain in London. Although, there is a need to understand
that major number of aspects need to get modify in a better articulated frame so that chances of
appropriate gain get enhance which further assist in better working as well as support to increase
profit margin as well.
2.3 Analysis of data by using measure of dispersion
Ratings R1 R2 R3 R4 R5
Standard
Deviation Variances
1 45 35 7.07106781 50
6

19
2 10 10 10 20 30 8.94427191 80
3 20 40 20
11.5470053
838
133.333333
3333
4 35 45
7.07106781
19 50
5 35 35 10
14.4337567
297
208.333333
3333
6 25 15 40
12.5830573
921
158.333333
3333
7 40 40 0 0
8 42 38
2.82842712
47 8
9 40 10 30
15.2752523
165
233.333333
3333
Standard Deviation is describe as quantity which expressing about how much member of
a group differ from mean value of a series. Deviation describe about difference of a series so that
better and effective decision lead to carried down on the basis of differences. Deviation of staff
behaviour value is 7 which is not high in nature in a series. Variances depicts about variations of
a series. This enables in understand about various variations of a series so that better and
effective gain get promoted. The ratings of the restaurant is 5 which stated that environment is
good in frame which further support to satisfy each and every individual properly and
effectively. Moreover, staff behaviour need to get improved on frequent basis which could create
barrier in future growth and working of another restaurant. Thus, management need to work on
this consideration properly so that better and suited results lead to derive.
2.4 Use of correlation coefficient for decision making
Ratings R1 R2 R3 R4 R5
Correlation
coefficient
1 45 35 -1
Relation
between 1
and 4
7

2 10 10 10 20 30
3 20 40 20 0.5
Relation
between 3
and 5
4 35 45
5 35 35 10
6 25 15 40
0.56362148
02
Relation
between 6
and 9
7 40 40
8 42 38 #DIV/0!
9 40 10 30
Correlation coefficient stands about relationship between more than one variables or
signifies as relationship between one variable with other one (Nowduri, 2011). This relationship
will reflect about consistency between them so that business managers become able to gain and
take appropriate and suitable judgement. Relationship either to be perfectly positive or negative
or in middle or it.
TASK 2
3.1 Creation of graphs and charts
1 2
0
5
10
15
20
25
30
35
40
45
45
35
8

1. Interpretation: This graph stated that product needs to be more appropriate and effective in
nature so that better and effective gain could be promoted. Murano have good and high quality
cuisine which state that business products have potential to make their user satisfy. Thus,
management not need to change or alter their cooking personnel.
10
10
10
20
30 1
2
3
4
5
2. Interpretation: Another thing which need to understand by business managers at restaurant is
amenities. Although, management have to alter their working and evaluate all customers aspect
properly. Thus, ratings lead to get provided to each and every consent effectively in which many
respondents states that amenities attracts many customers.
0.5 1 1.5 2 2.5 3 3.5
0
0.5
1
1.5
2
2.5
3
3.5
20
40
20
3. Interpretation: Income level of customers play a vital role in any kind of delivery of services
at restaurant or in any service sector business. Thus, management have to evaluate such group
9

whom which they can target and provide quality based services effectively. Many people belong
to moderate income group and state about prices between €20 to €50.
0.8 1 1.2 1.4 1.6 1.8 2 2.2
0
5
10
15
20
25
30
35
40
45
50
35
45
Row 5
4. Interpretation: Behind any association success and growth, their staff members play a vital
role. It is important to understand this fact effectively so that managers lead to provide
appropriate and suitable training to each and every staff person. On the basis of survey, Murano
have to provide sufficient staff training so that their employees behaviour get improved towards
users.
3.2 Use of trend line in interpretation as well as future forecasting
1 2 3
0
5
10
15
20
25
30
35
40 35 35
10
5. Interpretation: A major sector which attract vast range of customers is location of restaurant.
Business managers play an important role in working and they need to evaluate such location
10

where new venture get started and reflect profit. This trend line stands for Murano in which
business have to establish and choose rooftop and beach as most appropriate location.
1 2 3
0
5
10
15
20
25
30
35
40
45
25
15
40
6. Interpretation: When a new operation lead to take place, business have to make their concern
to evaluate that things getting done proper or not as well as need of modification or further
alteration is important or not. As per this trend line, business not need to perform any alteration
in present operation but they might take chances with new outlet for increasing profit margin.
1 2 3
0
5
10
15
20
25
30
35
40
45 40
10
30
9. Interpretation: Business have to take all elements of customers in consideration properly and
effectively. With a due course moment, association need to understand all factors properly and
take beneficial decision. Thus, managers need to maintain effective performance of an
organisation properly. Murano performance rating trend line stated that there is a need to alter
performance quiet which will support future and long term context.
11

3.3 Presentation of report with suitable graphs and charts
3.4 Report presentation by devising all sections to senior management
The Management
Murano Restaurant
Dated: 5th February 2018
Subject: Recommendation for another chain
Business wants to expand their operations with a course of time. It is a major thing which need
to understand by business managers properly and organise suitable study so that better and
effective working get promoted. On the basis of survey for Murano, it get determine that
products and services deliver by management have good quality. Along with this, location of
restaurant consider as another major element for an organisation. Thus, it suggested that it
should be near to a beach or at rooftop so that beauty of city get determine by various tourist.
Offers and discount vouchers are appropriate in nature which enables to satisfy more and more
users. Along with this, it suggested that vouchers have to get provided to such customers whom
consume products for more than one year. There is a need to recruit and train staff personnel
properly because many customers complaint that staff behaviour is not appropriate. Although,
this factor get understand by consulting survey for new chain.
Thank You
XYZ
TASK 3
4.1 Use of software generated information
Information play an appropriate role behind success of an organisation. Information
processing refer to as the manipulation of digitalise data (Pettigrew, 2014). It get done by using
appropriate business software, computers, and several other digital equipments which
collectively consider as information technology. Business generally use such kind of technology
into an association so that better and effective working get promoted. There are various software
generated information need to utilise by business managers of Murano so that appropriate future
concern judgement lead to carried down: Computers: One of a way to process information directly to senior management of a
company is computers (Power, Sharda and Burstein, 2015). In computer software,
12

appropriate data get generated which further facilitate and pass through electronic mails
and other devises. This information processing tool will lead to presented in a form of
report so that better and effective working get promoted.
 Presentation: Another consent by which information lead to take process in a systematic
tenure is presentation. In such aspect, business managers disseminate whole data into
various forms and present it by using suitable graphs and charts. Murano managers can
perform this duty with collected data by presenting it to senior management of a
company.
4.2 Use of time scale for evaluating duration of project
Every project whether it is large or small in nature need to get finish on time. Managers
have to determine and use shortest path which enables in order to complete project briefly so that
all its essentials lead to get accomplish. In such aspect, there are various kinds of tools get utilise
by managers of Murano which stated as follow:
 Gantt Chart: This concern divide task properly with each one of them have date as well as
duration to get complete (Vercellis, 2011). Murano can use this technique into business
through which they become able to present their working in an appropriate and effective
frame so that all their essential of new project get accomplish.
 Network diagram: Another framework which use by Murano managers is network
diagram which combine various activities of Gantt chart together and derive shortest path
to complete it. This will support in gain better and effective outcome so that better
working aspects get promoted.
Name of activity Time period Predecessors
Scope in market 3 days
Location for the
restaurant 5 days 1
Investment 5 days 1
Return on investment 4 days 3
Target market 8 days 1, 2
13

Advertisement 10 days 5
Lay out for decision 3 days 6
14

4.3 Use of financial information in order to determine feasibility of project
Finance is a backbone of every business which need to understand by managers of a
company in an appropriate frame by utilising it properly (Zimmerman and Yahya-Zadeh, 2011).
With sufficient utilisation of fund and optimum utilisation of resources, business become able to
gain better and effective success. Financial information needs to get interpret in study for
Murano restaurant so that feasibility of project get underpin in a suitable manner for gaining best
suited aspect. This will support in order to evaluate that future concern become possible for an
organisation better and successful running or not. This section going to articulate about net
present value and internal rate of return of a project effectively:
Project
Discounting
factor Discounted cash inflow
Year Cash Flow 12% Present Value
1 50000 0.893 44645
2 64000 0.797 51020.8
3 58000 0.712 41284.4
4 70000 0.636 44485
Total present value of
five years 181435.2
Initial investment of
year 190000
Net present value
(Total discounted
cash inflow – initial
investment) -8564.8
Internal rate of return 9.94%
15

On the basis of this determine aspect a major thing derive which signifies about new
chain idea. Such project is not beneficial for an organisation life term perspective as rate of
return is not so high as compare with investment rate. Return is of 9% where as investment all
concern with 12%. Along with this, initial investment of 50000 with negative return reflect non
feasibility project.
CONCLUSION
It get derive from this project that primary and secondary data play an important role in
order to take better and effective decision. It is essential for business managers to apply it
properly on an association for evaluating organisation performance in order to take and promote
ethical and effective deliverables. Along with this, on the basis of gather primary data, suitable
analysis have to conducted by using measure of central tendency and dispersion properly. On the
basis of derive data, graphs and charts get created which need to presented to senior management
for taking appropriate and considerable decisions. Along with this, management have to
determine appropriate pathway for transfer of data properly as well and evaluate appropriate time
scale as well as interpretation of financial information get done properly as well by applying IRR
and NPV.
16

REFERENCES
Books and Journals
Ferrell, O. C. and Fraedrich, J., 2015. Business ethics: Ethical decision making & cases. Nelson
Education.
Ford, R. C. and Richardson, W. D., 2013. Ethical decision making: A review of the empirical
literature. In Citation classics from the Journal of Business Ethics (pp. 19-44). Springer,
Dordrecht.
García-Peñalvo, F. J. and Conde, M. Á., 2014. Using informal learning for business decision
making and knowledge management. Journal of Business Research. 67(5). pp.686-691.
Gigerenzer, G. and Gaissmaier, W., 2011. Heuristic decision making. Annual review of
psychology. 62. pp.451-482.
Hwang, C. L. and Masud, A. S. M., 2012. Multiple objective decision making—methods and
applications: a state-of-the-art survey (Vol. 164). Springer Science & Business Media.
Nowduri, S., 2011. Management information systems and business decision making: review,
analysis, and recommendations. Journal of Management and Marketing Research. 7.
p.1.
Pettigrew, A. M., 2014. The politics of organizational decision-making. Routledge.
Power, D. J., Sharda, R. and Burstein, F., 2015. Decision support systems. John Wiley & Sons,
Ltd.
Vercellis, C., 2011. Business intelligence: data mining and optimization for decision making.
John Wiley & Sons.
Yager, R. R. and Kacprzyk, J. eds., 2012. The ordered weighted averaging operators: theory
and applications. Springer Science & Business Media.
Zimmerman, J. L. and Yahya-Zadeh, M., 2011. Accounting for decision making and
control. Issues in Accounting Education. 26(1). pp.258-259.
Zionts, S., 2012, December. MULTIPLE CRTTERTA DECISION MAKING”. In Multiple
Criteria Decision Making Theory and Application: Proceedings of the Third Conference
Hagen/Königswinter, West Germany, August 20–24, 1979 (Vol. 177, p. 150). Springer
Science & Business Media.
Zsambok, C. E. and Klein, G. eds., 2014. Naturalistic decision making. Psychology Press.
Online
Measures of Central Tendency. 2013. [Online]. Available through
:<https://statistics.laerd.com/statistical-guides/measures-central-tendency-mean-mode-
median.php>.
17

18