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Business Decision Making- Report

   

Added on  2020-02-03

19 Pages3458 Words34 Views
BUSINESS DECISIONMAKING1

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INTRODUCTIONDecisions are imporrant aspects involved in an entity in which business actions are taken by an individual for the sake of their entity. Tour operator has been selected by an entity who intends tolaunch its new products in form of new tour packages in front of all the customers located in the external business environment. The owner has evaluated four destinations as one of the prospective tour packages developed by an entity in order to satisfy all the needs and the expectations of variety of customers. This project report is all about creating data collection plan in order to collect facts and information in order to support the overall aim of the research report. This report also stressed on applying various statistical measures in order to test the overall accuracy of the data. This report highlights that this report visualises the business information using bar charts, line charts, pie charts and creation of trend line in order to predict the future performance of an enterprise after analysing present resources kept in an entity for long time period. Different information processing tools are used by an entity in order to convey important information about the business to all the external market users. Project management tools are used to determine the total time required by an entity in order to facilitate its variety of users. Financial tools are used by an entity owner in order to assess the financial performance of an entity in order to grab higher market performance.TASK 11.1 Identify sources of primary and secondary sources of dataPrimary collection- Primary research is conducted by an entity in which personnel is speciallyappointed in order to conduct a research to benefit its variety of users. In this kind of research study,data is collected from its original source in order to provide ultimate advantage to its variety ofvisitors which helps in designing customised tour packages to retain all the customers towards thebusiness of an entity. This particular research includes circulating questionnaires in order to takenthe consent of all the customers. Questionnaires will include both open end and closed endquestions included in the questionnaires in order to take the consent of all individuals in the externalmarket.Secondary collection- This is another most important technique of data collection which is externalsource of collection of facts and figures for supporting the desired aim of overall research study.This kind of external data collection technique will help in knowing about the external markettrends about the travel and hospitality industry in order to consider all features and attributes. In thisparticular source, data about customer’s income, tastes and preferences are determined by anindividual in order to generate higher business outcomes in the near future for securing the businessof an enterprise.1.2 Present survey methodologyResearch methodologies used by an entity will give right direction to the business as itclarifies the path of an entity in collecting all important evidences in completing the overall researchreport by identifying hidden areas of the research study (Baum and Crosby, 2014). The desired aimof the business will get fulfilled in order to accomplish all the goals and the objectives within a3

given time span. The research study conducted by an individual is to provide all solutions to theresearch problem as every research is based on some problem or issue currently faced by a societyas without problem there is no existence of research study.Cluster sampling technique used by an entity owner in order to select various facts andfigures by classifying all the data into various categories in facilitating an enterprise owner in orderto utilise all the information for the beneficial for the business in accomplishing all the goal and theobjectives develop by an entity owner. The total sample size for this particular research study is 90customers for which all members of the society, businesses, local residents and students areapproached by an entity in order to seek their consent about the designing of various tour packagesfor the beneficial of an enterprise.1.3 Design questionnaireQuestionnaireName _______________GenderMaleFemaleTransgenderQue. 1. How old are you?20-30 years old30-40 years oldQue. 2: Do you think tour operator will be able to meet with your satisfaction level by providingtout products?YesNoQue. 3: How often you are purchasing a tour package within one year ?MonthlyQuarterlyHalf yearly4

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