Business Decision Making Doc
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Added on 2020-10-04
Business Decision Making Doc
Added on 2020-10-04
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Business Decision Making
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Create a plan for collecting primary and secondary data.................................................11.2 Survey Methodology and sampling frame use.................................................................21.3 Creation of questionnaire ................................................................................................2TASK 2............................................................................................................................................52.1: Summarise the data collected from the survey................................................................52.2: Analysis of outcomes of the research and draw proper solution.....................................82.3 Evaluating the data as measure of dispersion...................................................................92.4: Explanation about quartile, percentiles and correlation to draw appropriate solution..10TASK 3..........................................................................................................................................113.1: Various charts and graphs are prepared on the collected data......................................113.2: Trend line analysis.........................................................................................................153.3: Poster.............................................................................................................................163.4: Formal report.................................................................................................................16TASK 4..........................................................................................................................................174.1 Roles and characteristics play by various information system.......................................174.2 Design of critical path and Gantt chart in order to estimate things................................184.3 Use of financial tools for defining better decision making............................................20CONCLUSION..............................................................................................................................21REFERENCES..............................................................................................................................22
INTRODUCTIONBusiness define that long term judgements are the only one which support and protect afirm to sustain at market world in long period of course. A long term focus enable managementto grow properly and determine each and every crucial aspect better. This result in drawingbeneficial and suitable gain in nature so that profit used to get maximise in order to providestrength towards working operations. Thus, whenever any firm used to work in a better framethen they have to estimate things effectively so that suitable gain get gain. This project is basedon Marks and Spencer whom are one of a major retail sector enterprise in UK. Thus, they wantto determine aspect of technology on high street shopping malls (Groebner and et. al., 2011). Forthis context, it will going to include about appropriate collection of information from varioussources like primary and secondary. Along with this, on the basis of primary data it will directlylead to influence about survey which further support in data creation and better decision making.It will also define various graphs and charts for better understanding of data. There will bevarious information processing tool get estimated for managing data properly. TASK 11.1 Create a plan for collecting primary and secondary dataEvery business have a definite pattern of working which have to estimate by businessmanagers properly so that they could work in a better manner. When it all talks about a survey ora study, a basic need or thing which have to estimate by an individual properly is gather data andinformation properly in order to bring down positive attribute. Thus, planning define and supportin reduce more than half work load and support in utilising all resources properly and in betterframe which further enable in make a successful project (Tufféry, 2011). Thus, variousinformation collection tool which could be estimate by Marks and Spencer are signify as follow:Primary data: It associated and define about the raw information which interpret thingsbetter and supportive in nature. Primary source of information is helpful in order toanalyse things better and effective with personal interaction process (Ford andRichardson, 2013). There are various methods consider under primary method which arequestionnaire, personal interview etc. All of them are helpful in analysing aspectsproperly by taking current prospect in account. This result in better dissemination ofinformation. 1
Secondary data: Another tool which support in defining the views and aspects better issecondary source of information. In this aspect, books, journals or already analyseinformation use to take in consideration which enable in defining things better withsuitable examples. In an organisation context, their previous records could be utilise incontext with expansion decision. Records include about profit and loss statement, cashflow statement etc. All of them are helpful in analysing facts and figures better and insupportive manner. 1.2 Survey Methodology and sampling frame useSurveys are a core part of research or a study which includes and support in analysingthings better and effective. Thus, surveys have various kinds of method which required toinclude in the project and support in deriving a beneficial outcome. The basic surveymethodologies which could be utilise for current topic are define as follow:Survey method: It is one of a kind of electronic source of information which support andenable in gaining aspects via email (Vercellis, 2011). This is a modern kind of surveymethod which currently utilising by many firms for deriving their stakeholdersviewpoints for effective judgement. Questionnaire: Another supportive consideration is questionnaire which not get organiseon vast individual but its surface area is limited. This need to understand at the time ofproject execution so that effective and beneficial gains could be determine in order toenhance better results derivation. Thus, such aspects are relay important to understand. Apart from these survey methodologies, sampling is another important consideration whicharrive in a project. Like this project is based on questionnaire survey which is a kind of primarymethod of survey. It will going to include about random sampling method where all individualshave equal probability to get selected. This enable and facilitate understanding things better andeffective in nature with suitable and beneficial attribute. 1.3 Creation of questionnaireQuestionnaire is a kind of approach of survey which enable and support in deriving abeneficial attribute for the project. This result in drawing beneficial attribute so that effectivenessand efficiency could be maintain and manage. This questionnaire includes 10 questions withrandom sampling method organise on more than 100 individuals. This result in drawing and2
gaining beneficial attribute which further going to clear a topic that internet shopping impactedhigh street shopping malls or not in order to improve working. 3
QUESTIONNAIREName:Age:Group:Gender:Email:Phone Number:1. What is your major purpose before utilizing internet technology?ShoppingWorkEducation2. Which is a method of shopping prefer by you?On lineDoor to DoorTraditional3. Please state reason of your purchase?Concern needEasy to operateAny other reason4. How often you prefer online shopping mode?Regularly SometimesNever5. Do you like to use internet as a shopping medium?Strongly agreeAgreeNeutralDisagreeStrongly agree6. Define your perception against risk using internet shopping? High4
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