Data Collection for Business Decisions

This assignment examines the crucial role of data collection in informed business decision-making. It outlines different data collection methods, including questionnaires, surveys, and interviews, highlighting their strengths and limitations. The discussion emphasizes the ethical implications associated with data gathering and analyzes how various organizations utilize data to make strategic choices. Real-world examples and case studies illustrate the practical applications of data-driven decision-making in diverse business contexts.

BUSINESS DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Create and provide the plan for primary and secondary data collection for UKCBC college
.....................................................................................................................................................1
1.2 Survey methods and sampling frame....................................................................................4
1.3 Questionnaire to collect data related to students' views on quality services of UKCBC......5
TASK 2............................................................................................................................................9
2.1 Data collection......................................................................................................................9
2.2 Data analysis.......................................................................................................................10
2.3 Data analyzing using dispersion method.............................................................................11
2.4 Quartiles, percentiles and correlation coefficient coefficient for data analysis..................12
TASK 3..........................................................................................................................................14
3.1 Graphical presentation to draw valid conclusion................................................................14
3.2 Trend lines for forecasting for specified business information...........................................24
3.3 Business presentation techniques........................................................................................25
3.4 Business report....................................................................................................................25
TASK 4..........................................................................................................................................27
4.1 Information processing tools...............................................................................................27
4.2 Project plan and critical path method..................................................................................28
4.3 Financial tools for decision making....................................................................................29
CONCLUSION..............................................................................................................................32
REFERENCE.................................................................................................................................33

Illustration Index
Illustration 1: UKCBC performance................................................................................................3

INTRODUCTION
Decision making process is essential to operate any business organization effectively. In
this regard, decisions are made to reach out set target and preparing planning for effectiveness of
entity. The present report is based on understanding different decision making tools for UKCBC
(UK College of Business and Computing), in which organization is to be reviewed by Quality
Assurance Agency (QAA). Therefore, planning procedure for preparing report through collecting
data regarding students' views on college's performance is to be described. Moreover, survey
method including sampling frame can be identified through this assignment. In addition to this,
different evaluations related to data measurement with attractive presentation is to be understood.
However, investment appraisal techniques for choosing best project plan is to expressed. Hence,
students are able to understand business decision making tools and several methods for college's
effective reviews through this report.
TASK 1
1.1 Create and provide the plan for primary and secondary data collection for UKCBC college
Data collection through primary and secondary methods are different form each other for
gathering information and analyzing customers' views on business operations. However, plans
and various methods of both collection tools can be described as:-
Primary data collection:- Under this system, information are collected at first time
therefore current market position of entity is achieved (Davis and et.al., 2014). In accordance to
this, several primary data collection methods are consider as:-
Methods of collecting primary data Conducting Interview:- In this process, face to face interview is conducted for which
interviewer asks question as well discusses to interviewee related to business operations.
However, on the basis of this, various ideas are created for decision making and operating
future business activities.
 Survey method:- Through this primary data collection method, researcher prepares
questionnaire that consists of a list of different questions related to business performance.
Varieties of views and opinions are created regarding qualitative services of entity
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(Deutsch and et.al., 2016). Moreover, by conducting survey actual market position of
firm and product services are obtained.
Thus, primary data collection is a method for collecting different information related to
market position. However, these collected data is not related with past behavior and future
intentions (García. and Conde, M.Á., 2014.). Hence, on the basis of recent market position,
further strategies are prepared for implementation and enhancing quality services of entity.
Secondary data collection:- In this collection method, data are gathered through ready
and material that presents business performance. On behalf of analyzing these information,
forecasting and decision making is done to operate business activities in future time. Therefore,
secondary data collection plan can be expressed as below:-
Methods of collecting secondary information Analyzing business reports:- Under this system, manager of organization recognizes
business performance tools that presents quality services and performance of entity.
However, financial and non-monetary components (For example; balance sheet, income
statement, performance reports and so on) are identified therefore future decision making
process is proceed (Goodman, Cryder and Cheema, 2013).
 Government publications:- Collecting information through government publications as
articles, news create customer and recent market trend. Therefore, on the basis of this
analysis, different ideas are generated for further business operations at high level.
Through this tool, organization can make place in market as well effective social
awareness can be gained towards goods and services supplied by entity (Hu and et.al.,
2015).
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Interpretation: As per analysing collected data UKCBC in terms of time associated with
entity in years. It is gained that it has increased its profitability and students' satisfaction at higher
level from last 7 to above years. Therefore, it can forecast that in future time, it can improve its
performance at higher level as well will be able to increasing number of students for college.
For conducting survey, resources, fund and time are presented for decision making
process for UKCBC. In this regard, presented tools can be expressed as:-
Resources Physical resources:
 Preparing questionnaire
 Conducting survey
 Asking questions to students of UKCBC
 Analysing their views and further making decision
regarding effectiveness.
Financial resources:
3
Illustration 1: UKCBC performance
(Source: UKCBC performance, 2016)

 Fund allocation
 Setting price for conducting research and further
operations.
 Analyzing financial statements to gain economic
position of UKCBC.
Human resources:
 Collecting students' vies on faculty services and cmpus
facilities
 Analyzing satisfaction level of students and faculties
with college activities
 Organizing development program as per performance
evaluation.
Time Near about 1 month.
Location College campus
1.2 Survey methods and sampling frame
Survey methods:- Survey is defined as a process to analyse current market position of
entity and its performance. For this purpose, students of UKCBC are gained regarding
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organisation's facilities and their satisfaction level. However, their views on facilities of college
entity including campus, canteen, study and so on are identified. On the basis of collecting their
views, further implementations are created for increasing their satisfaction level with services
provided by college. Thus, survey method is a technique that is useful for collecting data and
presenting market position of organization. Under this process system, various tools and
techniques are recognized for generating different kinds of views which leads to prepare report
and operating business activities efficiently (Lewis, 2015). Therefore, under survey method,
research asks questions door to door and also conducts face to face interview to collect
information and gaining knowledge related to effective market position. It is primary data
collection method for gathering information through face to face interview and different kinds of
tools and techniques. However, survey methods are as:- Interview:- By conducting face to face interview, interaction with each student is done
appropriately. In this process, quality services as well ideas are created for effectiveness
of UKCBC. Sample survey/ questionnaire:- In this process, researcher prepares questionnaire
consists of a list of questions. Further, he chooses respondents randomly and asks
questions to them. Thereby, different views and opinions are obtained for which
organization's effectiveness can be achieved. For present research, analyst selects 20
students from different campuses to emerge ideas to increase efficiency of college entity. Sampling:In sampling method, analysts uses different techniques as simple, cluster,
random sampling method and so on. Therefore, he selects respondents in alternative or
simple forms. While, in random sampling method, researcher chooses respondents
randomly (Mitchell and et.al., 2016). Therefore, through this process system, different
views are collected that remains helpful for further business operations.
 Systematic and random sample method: In systematic survey method, respondents are
selected in a systematic order to conducting survey. While, for random sample survey,
respondents are selected in irregular manner as well unsystematic form. Thus, for the
current research project, researcher is to use random sample survey for asking questions
to 20 students of UKCBC.
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As per the given case scenario, UKCBC is to be reviewed by QAA in further months
therefore, it is trying to analyze students views on college performance. However, analyst
prepares questionnaire that is a list of several questions related to entity's performance. In this
process, he chooses 60 students randomly and further collects data in systematic manner (Montes
and Jorge, 2015). Therefore, sampling framework is related to selecting respondents and asking
questions that presents varieties of opinions. In addition to this, by using this method, several
ideas are created for further operations.
1.3 Questionnaire to collect data related to students' views on quality services of UKCBC
Questionnaire is consists of list of different questions regarding services provided by
organisation and collecting respondents' views on its performance. Questionnaire is a research
instrument that is consists of a series questions to collect information related to college's
performance. In this regard, analyst asks following questions to students of UKCBC that
generates different views on entity's quality services.
Types of questionnaire: It is of several kinds for conducting survey presented in forms
like; face to face questioning and questioning via open end and fixed response questionnaire.
Including this, questions are also asked in the form of online survey like; mail and using social
networking sites and so on.
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Importance of questionnaire:- It is comprises a list of questions related to quality
services of business organization. In this process, researcher prepares questionnaire and asks
questions to respondents related to business activities. However, it usefulness can be understood
as below:-
 Helpful to achieve current position of organization and its faculties' teaching services.
 Students' views are obtained on college performance.
 Generates different ideas related to quality services and improvements in them.
 Actual environment of entity is gained by which further implementation can be achieved
for positive and friendly atmosphere (Montes and Jorge, 2015).
Therefore, researcher asks following questions to selected 60 students to analyse their views as:-
Name:
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Age:
Q.1 What is your age group?
 15-25
 26-35
 36-50
 Above 50 years
Q.2 In your opinion, does UKCBC provide proper information related to college courses?
 Yes
 No
Q.3 Comment on services and facilities provided by UKCBC.
 Effective
 Satisfactory
 Neutral
 Ineffective
Q.4 How about lecturers behaviour within college campus?
 Supportive
 very supportive
 Neutral
 Unhelpful
Q.5 In which of the following services are most attractive to present UKCBC effectiveness?
 Teaching manner
 Friendly and developing environment
 Supportive lecturers
Q.6 According to this, UKCBC makes vital contribution in the growth and development of
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students in terms of both physical as well as mental?
 Yes
 No
Q. 7 Is UKCBC helpful for physical and mental development of all students?
 Effective
 Satisfactory
 Ineffective
Q.8 Are you agree with, “UKBC provides satisfactory college campus and creating friendly
environment.”
 Agree
 Strongly agree
 Disagree
 Strongly disagree.
Q.9 In your opinion, does UKCBC organizes additional facilities for development of all
students?
 Agree
 Strongly agree
 Neutral
 Disagree
 Strongly disagree.
Q.1 0 Is UKCBC is able to satisfy you with its services?
 Yes
 No
Q.11 Do you recommend your friends and family members for UKCBC quality services?
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 Yes
 No
TASK 2
2.1 Data collection
Researcher collects data by which different opinions are generated for analysing students'
views on college services and facilities. In this process, hypothesis for information is created that
is useful for implementing decision-making process in future time. However, research analysis
includes evaluating mean, median and mode of gathered quantitative information. Under which,
several kinds of opinions are obtained related to services and facilities provided by organization.
In this process, data collection is done through sample survey and gaining answers of teaching
services and facilities provided to the students by UKCBC educational institute (Pettigrew,
2014). Therefore, importance of mean, median and mode as well their interpretations can be
understood as below:-
Number of students Rank given by students (out of 5)
1 1
2 1
3 2
4 1
5 3
6 1
7 2
8 2
9 4
10 3
11 2
12 2
13 2
14 2
15 1
Mean:- It is most general and simplest form of data estimation and interpretation in
which average of all given variables is measured. In this process, sum of two or more set
numbers is divided by total number of variables. Therefore, mean is determined through this
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average method by which decisions are made for further business operations (Simon, 2015).
Hence, determining mean is average basic method for data analysis and measuring average views
of respondents.
Median:- It is considered as mid value of collected quantitative information. In which,
large number of variables are split-ed into two parts and further remaining mid value is obtained
as median. Therefore, middle value of overall variables terms as median of gathered data (Davis
and et.al., 2014). Thus, median is effective estimated value for analyzing collected data and
evaluating subsequent. However, median is effective data interpretation component for data
collection.
Mode:- The repetitive number in variable considers mode in which frequency of numbers
are obtained. Under this process system, repetitive variables are determined by which estimated
data is created. In addition to this, through evaluating mode, data analysis is generated that leads
to make decisions for operating further business activities (Sköld, Alm and Scholz, 2013).
Therefore, mode is considered as data interpretation tool as quantitative information for decision
making process.
2.2 Data analysis
Collected data are interpreted by manager of the organization. As per the given case
scenario, different data interpretation tools are evaluated that leads to analyze students' views and
ranks on the teaching facilities provided by UKCBC college (Deutsch and et.al., 2016). In this
process, calculated mean, median and mode can be interpreted as below:-
Mean 1.93
Median 1
Mode 1
STDEV 0.89
Correlation 0.408248
Q1 1
Q2 1
Q3 2
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Mean:- There are 15 students selected for asking questions in which interpretation is to
be done for recognizing satisfaction level of students regarding teaching service and facilities as
well lecturers' teaching manner. Through this data interpretation, it is analyzed that average of
overall variables is determined as 1.93. Therefore, it is required for the organization to improve
performance and preparing various strategies that is helpful for enhance existing teaching
services in proper ways. After that, students will give higher rank to those facilities which are
given by the college.
Median:- In this process, mid value of variable considers as median by which high range
of data are segregated into similar parts. Thereby, 15 variables are presented which, the 8th
variable considers mid value. Therefore, median of the collected data is evaluated as 1. However,
as per this estimated data, further analysis and business operations are obtained. Therefore, it is
recognized students present their views on teaching services of the college that it not able to offer
attractive and proper services. Most of the students views that organizational performance is
effective as well lecturers' support students effectively for teaching college subjects.
Mode:- It is related to evaluating data to analyze students' views. Under which, repetitive
answers are considered as basis for decision making that is related to recognizing students' views
on teaching services and facilities provided by UKCBC. In this regard, it is evaluated that most
frequent reply for asking questions is “1” that represents ineffectiveness and unsatisfactory
quality services of college entity. However, by identifying collected data, it is determined that
college not able to provides effective services in order to teach them.
2.3 Data analyzing using dispersion method
Calculation of standard deviation
S. No.
Respondents view
(Question 3)
1 1
2 1
3 2
4 1
5 3
6 1
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7 2
8 2
9 4
10 3
11 2
12 2
13 2
14 2
15 1
STDEV 0.89
The above depicted table clearly presents that standard deviation in relation to the aspect
of teaching services offered and support of teaching staff is .89. By considering such aspect it
can be said that there is no significant difference take place between mean value and responses
asserted by the students. Hence, mean value will not deviate to a great extent in the upcoming
time period.
2.4 Quartiles, percentiles and correlation coefficient coefficient for data analysis
Quartile helps in assessing the value in relation to each quarter such as 1, 2 and 3. In this, by
making evaluation of the performance of each quarter researcher can draw valid conclusion.
Percentile presents outcome of data set in the form of percentage (Ford and Richardson, 2013).
Hence, it is one of the main aspects that differentiate percentile from quartile.
 Calculation of quartile and percentile
Particulars Question 3
Quartile 1 and 25th percentile 1
Quartile 2 and 50th Percentile 1
Quartile 3 and 75th percentile 2
Outcome of data analysis clearly shows that services which are offered by UKCBC to
their students are rated as satisfactory in the first and second quarter. In addition to this, in the
third quarter satisfaction level of students in terms of teaching facility increased significantly.
Further, statistical results show that teaching staff of UK CBC is supportive. At the end of third
quarter, level of support increases from normal to high. By considering all such aspects it can be
stated that students are highly satisfied from the services and facilities offered UK CBC.
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Correlationship: By using such statistical tool business entity can identify the extent to
which two variables are associated with each other. There are mainly three types of correlation
such as positive, negative and no (Kline, 2010).
It presents relationship between two or more variables by which connection and proper
comparison is created. However, UKCBC actual performance is gained by this method where
students present their views related to organization's facilities. An ideal correlation to connect ant
two variable is 1 which shows actual college entity's performance.
In this regard, by determining the correlation business entity can determine the impact of
one variable on another.
Particulars Teaching services and
facilities offered by UK CBC
Teaching staff behavior
Services 1 .48
Teaching .48 1
By applying the tool of statistics it has been identified that’s neither high nor too lower
relation takes place between the services as well as facilities and support of teachers. Hence,
moderate relationship exists between such two variables such as.48 respectively. On the basis of
this aspect services can be improved to a great extent by raising the support provided by the
teachers to students to some extent. The rationale behind this, behavior of teaching staff is
highly influenced from working environment and other aspect. Due to this, both such variables
are moderately associated with each other.
For further decision making, correlation between setting price and number of students
through which college reputation and courses demand is also presented. Therefore, correlation
between price and number of students is evaluated as:-
Price No. of students
25000 800
35000 1200
50000 1500
65000 2000
80000 2500
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Particulars Services Teaching
Services 1 .99
Teaching .99 1
Interpretation:- It is evaluated that according to different prices for college courses,
number of students get impacted. Therefore, by providing high price of courses, students who
believe in quality services and campus facilities demand at high level. Correlation between both
variables is calculate as 0.99 which near about 1. Thus, college entity's performance is quite
effective that leads to improve efficiency through strategic planning procedure.
TASK 3
3.1 Graphical presentation to draw valid conclusion
Graphical presentation
Theme 1: UK CBC makes vital contribution in the growth and development of students in
terms of both physical as well as mental
Particulars Views of respondents % of respondents
Yes 12 80%
No 3 20%
Total 15 100%
Pie chart
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In the above depicted, blue highlighted part shows that large number of respondents
approximately 80% entails that UK CBC contributes in the growth and career development of
students significantly. On the other side, area marked in red shows that respondents selected for
such study not agreed with the statement asked to them.
Bar chart
Yes
No
0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00%
80.00%
20.00%
Interpretation: The above depicted graph presents that 80% student’s entail that UK CBC
organizes programs for the development of both physical and mental aspects. Along with the
course related aspects college institution also conducts games and other activities which in turn
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helps in enhancing the knowledge as well as competency of students. On the other side, only
20% respondents do not support such aspect.
Theme 2: Students entail that UK CBC offers additional facilities and services
Particulars Views of respondents % of respondents
Agree 6 40%
Strongly agree 7 47%
Neutral 4 27%
Disagree 2 13%
Strongly disagree 1 7%
Total 15 100%
Interpretation: Below mentioned graphical presentation shows that 40% students agreed and
47% respondents strongly agreed with the aspect that college institution offers additional
services to the students. Further, 27% students neutrally agreed with such aspect that effectual
services are offered by UK CBC. Moreover, UK CBC provides students with Wi-Fi and e-lecture
notes facility. It is one of the main factors that evolve high level of satisfaction among the
students and assists them in their studies to a great extent.
Column chart
Bar chart
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Agree
Strongly agree
Neutral
Disagree
Strongly disagree
0.00% 10.00% 20.00% 30.00% 40.00% 50.00%
40.00%
47.00%
27.00%
13.00%
7.00%
Pie chart
40.00%
47.00%
27.00%
13.00%
7.00%
Agree
Strongly agree
Neutral
Disagree
Strongly disagree
Theme 3: UKCBC provide proper information related to college courses
Particulars Views of respondents % of respondents
Yes 11 73%
No 4 27%
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Total 15 100.00%
Pie chart
73%
27%
Yes
No
Bar chart
Yes
No
0% 10% 20% 30% 40% 50% 60% 70% 80%
73%
27%
Interpretation: It can be said from the above mentioned chart that majority of the students say
that company or UKCBC college providing services and information about the college campus
in proper and adequate manner.
Theme 4: Services and facilities provided by UKCBC are effective.
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Particulars Views of respondents % of respondents
Effective 7 47%
Satisfactory 5 33%
Neutral 2 13%
Ineffective 1 7%
Total 15 100%
Bar chart
Effective
Satisfactory
Neutral
Ineffective
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
47%
33%
13%
7%
Pie chart
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47%
33%
13%
7%
Effective
Satisfactory
Neutral
Ineffective
Interpretation: It has been ascertained from the present stated charts that services as well as
facilities of different kinds like teaching, electricity, materials etc. Are at the effective level.
Apart from this, 33% students are said that services of college are at the satisfactory level.
Theme 5: Lecturers behavior within college campus is supportive.
Particulars Views of respondents % of respondents
Supportive 8 53%
very supportive 5 33%
Neutral 1 7%
Unhelpful 1 7%
Total 15 100%
Bar chart
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Supportive
very supportive
Neutral
Unhelpful
0% 10% 20% 30% 40% 50% 60%
53%
33%
7%
7%
Pie chart
53%
33%
7%
7%
Supportive
very supportive
Neutral
Unhelpful
Interpretation: By considering the current theme it can be analysed that, behaviour of lectures
is of the supportive nature within college and teaching at the classroom.
Theme 6: services are most attractive to present UKCBC effectiveness.
Particulars Views of respondents % of respondents
Teaching manner 4 27%
Friendly and developing
environment 5 33%
Supportive lecturers 6 40%
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Total 15 100%
Bar chart
Teaching manner
Friendly and developing environment
Supportive lecturers
0% 10% 20% 30% 40% 50%
27%
33%
40%
Pie chart
27%
33%
40% Teaching manner
Friendly and developing
environment
Supportive lecturers
Interpretation: Services which are given and provided by the UKCBC college are attarctive in
different ways which are like in the teaching manner, environment and supportive nature of the
teachers and lecturers.
Theme 7: UKCBC helpful for physical and mental development of all students.
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Particulars Views of respondents % of respondents
Effective 9 60%
Satisfactory 5 33%
Ineffective 1 7%
Total 15 100%
Bar chart
Effective
Satisfactory
Ineffective
0% 10% 20% 30% 40% 50% 60% 70%
60%
33%
7%
Pie chart
60%
33%
7%
Effective
Satisfactory
Ineffective
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Interpretation: According to the views of majority of students like 60%, the education and
information provided by the UKCBC college are supportive for the them in terms of developing
their physical and grow mental health in proper ways.
Theme 8: Students mostly agree from the statement “UKBC provides satisfactory college
campus and creating friendly environment.”
Particulars Views of respondents % of respondents
Agree 5 33%
Strongly agree 8 53%
Disagree 1 7%
Strongly disagree. 1 7%
Total 15 100%
Bar chart
Agree
Strongly agree
Disagree
Strongly disagree.
0% 10% 20% 30% 40% 50% 60%
33%
53%
7%
7%
Pie chart
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33%
53%
7%
7%
Agree
Strongly agree
Disagree
Strongly disagree.
Interpretation: Among the 15 respondents and pupils of the UKCBC college, 53% are strongly
and satisfied from the environment of college as well as campus.
3.2 Trend lines for forecasting for specified business information
Trend analysis is the tool which in turn helps in making analysis of pattern in an effectual
way. By making assessment of trends firm can develop highly competent strategies and policies
for the near future. Moreover, business environment is uncertain which in turn creates difficulty
in front of business entity regarding decision making aspect (Hu and et.al., 2015). In this, by
evaluating the trend management of college institution can take suitable action which in turn aid
in their growth and profitability aspect.
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From the above drawn trend line it can be stated that both satisfaction level and achievement
grade will incline in the near future. Both the variables will move in the similar direction due to
having positive relationship. Career growth and opportunities of students are highly based on the
grades they achieved in examination. It is the one of the main reasons due to which both the lines
are moving in similar direction. Hence, to enhance satisfaction level and grade level of students
college institution is required to lay emphasis on conducting classes or lectures in an innovative
manner. This in turn develops the interest level of students to the significant level.
3.3 Business presentation techniques
Enclosed in power point presentation.
3.4 Business report
Business report to the higher management of UK CBC
To,
Higher Management, UK CBC
Date: 18th April, 2017
Subject: Assessment of student’s experience and satisfaction level at UK CBC Introduction: This report will describe the level of satisfaction of UK CBC’s student.
The main objective of research conducted and such report is to analyze the viewpoints
of student’s regarding educational services offered by UK CBC. Further, it will also
highlight the tools and techniques that have been undertaken by the researcher to carry
out research in a structured way. It will also provide deeper insight about the ways
which college institution should undertake to enhance profitability aspect. Methodology: In the present research, to gain deeper insight about the satisfaction and
experience level of student’s data has been gathered by the researcher from both the
sources such as primary and secondary. In this, sample of 15 students have been
selected by the scholar on whom the whole study focuses on. Further, thematic
perception test technique has been used by the scholar to analyze data more effectively
and efficiently. In accordance with such techniques themes have been prepared by the
researcher to analyze data more effectively and efficiently. Such findings have clearly
been supported by the scholar from secondary data findings. Findings: From investigation, it has been found that students are highly satisfied from
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the quality and services maintained by UK CBCs. In the present era, students prefer to
take admission in the college which places emphasis on their development along with
the educational aspect to the significant level. In addition to this, it has been found
from investigation that teaching staff of UK CBC provides high level of support to the
students. Now, teachers provide students with the lecture slides which in turn help
them in their learning aspect. The reason behind this, e-notes offer high level of
convenience to the students. All these aspects shows that policies which are followed
by UK CBC highly effectual. Further, statistical results show that students have
positive attitude regarding the educational facilities provided by UK CBC. Conclusion: By considering the views of respondents it can be concluded that students
have positive attitude towards the educational facilities provided by UK CBC. It can
be revealed from overall analysis that student’s satisfaction level is highly influences
from the marks attained in examination.
 Recommendations: It can be recommended to the college institution to lay emphasis
on conducting revision classes. This in turn offers opportunity to the students to
resolve their queries timely. In this way, by getting deeper insight about each and
every concept students would become able to perform better in the examination.
College institution should provide students with e notes which in turn offer more
convenience to them. In addition to this, such measure will also encourage students to
give proper attention to the learning aspect rather than recording theoretical notes.
Along with this, it is advised to the college institution to lay more emphasis on taking
feedback from the students. This in turn helps in getting information about the view
points of students and thereby helps in taking suitable action for improvement.
TASK 4
4.1 Information processing tools
In order to support decision making aspect to a great extent managers of the firm undertake
software and information processing tools is as follows: Operational level: Personnel who work at operational level undertake transaction
processing system for making profitable business decisions (García-Peñalvo and Conde,
2014). In transaction processing system, manager takes decision by making monitoring of
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business transaction. TPS presents suitable report for decision making by including
information regarding customer behavior and expense level. Transaction processing tool
is used to analyse make proper financial transactions at the workplace of UKCBC
college. For example: When level of profit reduce on consistent basis then by using
Enterprise Resource Planning software they able to make proper transactions of the costs
which lead to decline appropriately.
 Tactical level: Decision support system is undertaken by manager works at tactical level.
In the highly strategic business environment, managers are not in position to take
effective business decision. In this, DSS helps business unit in devising effectual plan by
making estimation of the future aspects of position. The DSS helps to the operational
level of employees like CEO, CFO etc. in order to making solution of typical as well as
complex business conditions.
 Strategic level: At strategic level, manager undertakes MIS to ensure effective decision
making. MIS provides manager with the tailor made reports and thereby aid in effective
decision. Such software contains information regarding each and every department such
as marketing, finance as well as accounting etc (Goodman, Cryder and Cheema, 2013).
Moreover, it is not possible for the manager to take suitable decision. In this, report
which MIS software produces help strategic level manager or personnel in building
competent framework. In this level junior level of managers and come into consideration
where day-to-day business decisions are to be made in effectual ways. For instance: by
undertaking MIS UK CBC records information about enrolment, admission etc. Hence,
MIS provides high level of assistance to the manager in generating automated report.
Thus, by making evaluation of information UK CBC can take suitable decision for the
growth and development.
4.2 Project plan and critical path method
Gantt chart and network diagram are the most effective project management tools which in
turn helps in identifying the manner through which plan can be completed effectually. By
preparing Gantt chart business unit can assess the relationship which takes place between the
wide ranges of project activities (Nowduri, 2011). Further, network diagram assists in identifying
the path which business entity should follow to accomplish the projects with the less duration.
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Hence, project management tools are highly significant which in turn provides direction to the
firm significantly.
Gantt chart
Network diagram
30

The above depicted network diagram show that firm should follow below mentioned
path. By following such path firm would become able to accomplish plan within the suitable
time frame.
Path 1:
1 + 2 + 3 + 8
= 2 + 4 + 6 + 2
= 14 days
Path 2:
1+2+5+6+8
= 2 + 4 + 6 +1+ 2
= 15 days
Further, this present project will be done and completed in only 14 days.
4.3 Financial tools for decision making
Now, business entity has several proposals in which money can be employed to generate
higher returns. In this, manager finds difficulty in making selection of suitable projects out of
various. Hence, by employing the investment appraisal techniques manager can make evaluation
of the proposed investment in terms of monetary aspects. Hence, investment appraisal tools are
highly significant which in turn provides high level of assistance to the owner of firm in
evaluating the attractiveness or viability of projects (Investment appraisal techniques, 2017).
Main purpose of the firm behind making investment is to earn higher returns. Capital budgeting
tools are highly significant which in turn helps in evaluating the extent to which project will
proves to be beneficial for the firm. Hence, main capital budgeting tools that business
organization can undertake includes following:
Net present value: Such discounted method shows return which firm will get over initial
investment. In this, manager identifies solution by taking into account the discounting factor. In
this way, such method offers solution in monetary terms by undertaking time value of money
concept. However, in does not help in making comparison between the two mutually exclusive
projects.
Internal rate of return: IRR techniques of investment appraisal are highly effective which
in turn furnishes information about return in the form of percentage. Under this, business entity
makes assessment of return in monetary terms by making selection of two discounting factors
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(Ford and Richardson, 2013). However, if business unit fails to select suitable discounting factor
then it may result into inappropriate framework for decision making.
In addition to this, payback period and average rate of return is the most effectual tools that
help in making highly suitable decision. Moreover, payback period method provides deeper
insight about the recovery time period of initial investment. Further, ARR method entails
average profitability aspect. In this way, such method helps in evaluating this profitability aspect
in an effectual way (Kline, 2010). The main drawbacks of such methods are that it completely
ignores the time value of money concept. By keeping all such aspects in mind NPV and IRR
technique has been applied by the business entity.
Calculation of Net present value (NPV)
Year
Cash
inflow
(in £)
Present
value
factor
@
10%
Discounted
cash
inflow (in
£)
1 8000 0.909 7272
2 10000 0.826 8260
3 5000 0.751 3755
4 5000 0.683 3415
Total
discounted
cash
inflow 22702
Initial
investment 15000
NPV
(TDCF –
II) 7702
Calculation of internal rate of return (IRR)
32

Year Cash inflow
-15000
1 8000
2 10000
3 5000
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4 5000
IRR 35%
The above depicted table shows that by investing money in the investment proposal firm
will get £7709 respectively in comparison to initial investment. This aspect shows that owner of
the concerned business organization will offer higher return. Along with this, IRR of investment
proposal is 28.85%. Hence, by considering such aspects it can be stated that firm should invest
money in such proposal. Moreover, according to the selection criteria corporation should select
the project which has higher and positive NPV as well as IRR. Hence, by selecting such proposal
firm can enhance profitability aspect to a great extent.
CONCLUSION
The report is concluded that making decision is essential for effectiveness of business
organization. In this regard, several tools and techniques are determined for data collection and
analyzing UKCBC performance for college students. However, data collection and analysis is
different forms are considered for forecasting and decision making to prepare planning procedure
that is helpful to prepare report. Including this, various data analysis components such as qua-
tiles, percentiles and correlation coefficient are obtained through this assignment. Moreover,
several business presentation techniques and information processing tools are presented that is
useful to present entity's performance as well making decisions in future time through this report.
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