Business Decision Making Assignment Solved (Doc)

Added on - 04 Oct 2020

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Business Decision Making1
Table of ContentsTask 1...............................................................................................................................................................................Task 2...............................................................................................................................................................................Task 3...............................................................................................................................................................................Task 4....................................................................................................................................................................................................................................................................................................................................................................References......................................................................................................................................................................2
Task 1A.C 1.1The research aims to collect the data which can help in understanding the price, taste, andpreferences for a location for opening the second restaurant in London.The data will be collected from both primary and secondary source. Primary data willcollect the direct information from the customers or can also be said to be first-hand information.The researcher himself collects the information which can be via email, face to face andtelephone. For the collecting, the primary data the questionnaire will be prepared including open-ended questions (Osborne, 2012). There will be minimum 10 questions to be asked under thequestionnaire. The questionnaire will be posted via using online platform where customers whoare interested can fill their forms and the data collected will be helpful in opening the secondrestaurant “food for friends”.Another source for collecting the data is the secondary data collection under which thedata has already been collected and scrutinized by another researcher. The secondary data will becollected through directory, articles, journals which are containing the details of the existingrestaurants and the menu of the restaurants.A.C 1.2Survey methodology is the method to be used or involved in conducting a survey on thepopulation of London. A comprehensive research method will be implemented for accumulatingthe significant information for the business decision making (Mackey and Gass, 2015). Thesurvey can be conducted by telephone, mails or personal interview. The survey will beconducted on the 100 people determining their preferences, choices and liking for the restaurant.The survey will be conducted with two essential elements which are questionnaire and sampleframework. But as discussed above the data will be collected via questionnaire sequenced in aneffective manner for obtaining the essential information. The questionnaire will be verysupportive in getting the data in a fair manner preventing biases. After performing the survey thedata will be positioned in the safe and secure place.Sample framework will assist in studying the population. There are various methods forsampling and for this research; there will be the use of simple random sampling method underwhich every participant will get the equal opportunity to get selected. Among 100 respondents,3
10 participants will be selected for interpretation of the data. There will be the application ofboth qualitative and quantitative survey methodology. Under quantitative research frameworkthe data will be analysed with the use of numerical terms and in qualitative research method,there will be the use of bars, diagrams, and graphs.A.C 1.3The questionnaire is the set of the questions planned in relation to the topic of theresearch circulated to the respondents for getting the required information. The questionnairewill be helpful for the board of directors for deciding the location for the restaurant.Q1 what is your age faction?a.15-18b.19-25c.26-35d.50 aboveQ2 How often you go to a restaurant?a.Once in a dayb.Once in a weekc.Twice a weekd.Very oftenQ3 what price you like to spend on going for food in a restaurant?a.£ 15-30b.£31-70c.£71-100d.£101-125Q4 which location you prefer the most when going to any restaurant?a.Cityb.Street placec.Beachesd.Shopping mallsQ5 When would you like to go in a restaurant?a.Morningb.Evening4
c.Nightd.Any timeQ6 what would you like the most effective in any restaurant?a.Qualityb.Tastec.Healthd.PriceQ7 Would you like to try new restaurants?a.Yesb.NoQ8 what would you like to have anything other than the food in any restaurant?a.Musicb.Showsc.Culture festivalsd.Nothing but peaceQ9 Would you like to recommend your friends and relatives for the new restaurant?a.Yesb.NoQ 10 What type of food you prefer the most?a.Vegetarian foodb.Non-vegetarian foodc.Chinese foodd.Spicy foodQ11 How much you want to spend for a single type of food?a.£ 13-20b.£21-35c.£36-45d.£46-65Task 25
AC2.1After reviewing the results of the survey conducted on the people of London, it has beenfound that most of the people prefer to go to restaurants once in a week. Further, the results alsosummarized that people prefer to pay less while going to restaurants. Respondents found to bemore concern on the location of the restaurant and demanded that the restaurant should be at cityand showed less interest in the shopping malls. There is the equal response of the respondent togo to the restaurant at any time or at night or evening. Quality and taste should be the mosteffective and amazing part of the restaurant.Question12345678910114223131112231442322232341123113412334111115222333441361342123214712212211228122213344392221221212101122233434111112334322As per the preferences of the people of London, there should be more shows, culturalfestivals in the restaurants as it provides peace and wonderful experience to them. People wouldprefer to have more non vegetarian and Chinese food in the restaurant.As the board of directors is required to take the best decision for the opening of thesecond restaurant in London than from the above review it can be said that foremost need toensure the successful launch is to bring quality food with reasonable prices. Most of thepopulation would like to come anytime in the restaurant that means there will be a requirementof providing 24*7hours services (Groebner, et. al., 2010). For that double shift will be requiredto be there in the Company. Management would also be required to focus on controlling its costof producing food as people will prefer to pay less and also with high quality then only there will6
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