Report On Murano Restaurant's Business Decision Making
17 Pages4163 Words37 Views
Added on 2020-02-05
Report On Murano Restaurant's Business Decision Making
Added on 2020-02-05
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Business Decision Making1| P a g e
Table of ContentsIntroduction................................................................................................................................4Task 1.........................................................................................................................................41.1 Plan for the collection of primary and secondary data for Murano..................................41.2 Survey methodology & sampling frame..........................................................................51.3 Questionnaire....................................................................................................................52.1Information for decision making.......................................................................................72.2 Analysis of Secondary & Primary information................................................................72.3 Measures of Dispersion..................................................................................................102.4 Quartile, Percentiles and the correlation coefficient......................................................10Task 2.......................................................................................................................................113.1 Graphical presentation....................................................................................................113.2 Trend line for forecasting...............................................................................................113.3 Business Presentation.....................................................................................................113.4 Formal Business Report ................................................................................................13Task 3.......................................................................................................................................134.1 Appropriate information processing tools......................................................................134.2 Gantt chart & Network Diagram (Project Management)..............................................144.3 Financial tool for decision making.................................................................................15References................................................................................................................................172| P a g e
Index of TablesTable 1: Sales & Profit during last ten years..............................................................................7Table 2: Descriptive statistics.....................................................................................................7Table 3: Do you prefer having Italian food products?...............................................................8Table 4: Do you know about Murano restaurant in Queen Street?............................................8Table 5: Do you agree that the Murano has its own taste of Italian food products?..................9Table 6: Do you agree that the restaurant unit has pleasant and soothing ambience?...............9Table 7: Measures of Dispersions............................................................................................10Table 8: Quartiles.....................................................................................................................10Table 9: Percentiles..................................................................................................................10Table 10: Correlation coefficient.............................................................................................11Table 11: List of activities........................................................................................................14Table 12: Net present value......................................................................................................15Table 13: Internal Rate of return..............................................................................................163| P a g e
INTRODUCTIONBusinesses in present scenario need to decide suitable course of action so as toachieve success in long term. The report proposed herewith emphasizes on evaluating distinctset of decisions for the restaurant unit. It is through application of different statistical andfinancial techniques that the researcher has justified decision making process of theorganization. An investigation is conducted for London-based restaurant unit, Murano that isplanning to expand operations by opening up a novel branch. The research work accumulatesa wide variety of financial and non-financial information so as to decide future course ofaction for the organization. TASK 11.1 Plan for the collection of primary and secondary data for MuranoMurano is an Italian restaurant that is located at Queen Street in London. The cafe isplanning to open up its second branch within city. Customer tends to widely accept itseatables due to pleasing taste. Further, it offers quality products to its clientele base withcustomer-oriented services. In order to ascertain the feasibility of expansion for the businessunit, a set of primary and secondary information is accumulated. A plan for accumulation ofsecondary and primary data is presented underneath in detail. Collection of secondary information: The secondary data is collected throughdifferent published articles, books and journals. The recent articles published related tochanging consumers' preferences in London. It is through government publications that trendfor tourism and demographic profile of population can be identified. This in turn helps intargeting appropriate set of market segment (Taylor, 2013). The researcher also evaluatesvarious factors that impacts buying decisions of customers through accumulation of relevantsecondary information. Collection of primary information: The researcher needs to conduct an investigationso as to accumulate the primary information. The survey is conducted for customers so as tocollect understand their preferences and buying pattern. A sample of customers would beselected so as to collect the first hand information (Jaggia and et.al., 2016). It is throughdistribution of questionnaire among sample of population that the researcher is able to collectthe required information. Murano is able to identify consumers' taste and preferences throughthe market survey. This in turn helps in satisfaction of customer demand. 4| P a g e
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