Research Design and Methodology - Report
Added on 2020-01-28
22 Pages4296 Words82 Views
BUSINESS DECISIONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................21.1 Plan in order to collect data for research..........................................................................21.2 Survey methodology and sampling method.....................................................................21.3 Design a questionnaire for research.................................................................................3TASK 2............................................................................................................................................52.1 & 2.2 Data for research and its analysis in order to develop a tour product....................52.3 Analysis of measure of dispersion....................................................................................62.4 Quartiles, percentiles and correlation coefficient.............................................................7TASK 3............................................................................................................................................93.1 Producing graphs and charts and its interpretation...........................................................93.2 Trend line in order to predict future events....................................................................123.3 Business presentation.....................................................................................................133.4 Formal business report...................................................................................................13TASK 4..........................................................................................................................................134.1 Appropriate information processing tools......................................................................134.2 Project plan and determination of critical path for launching a new tour product.........144.3 Financial tools in order to assess viability of investment or project..............................16CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
INDEX OF TABLESTable 1: Raw data for research analysis..........................................................................................5Table 2: Calculation of mean, median and mode............................................................................5Table 3: Calculation of standard deviation......................................................................................6Table 4: Calculation of quartile.......................................................................................................7Table 5: Calculation of percentile....................................................................................................7Table 6: Calculation of correlation..................................................................................................8Table 7: Calculation of NPV..........................................................................................................16Table 8: Calculation of IRR...........................................................................................................17ILLUSTRATION INDEXIllustration 1: Pie chart on sales.....................................................................................................10Illustration 2: Pie chart on profit....................................................................................................10Illustration 3: Bar chart..................................................................................................................11Illustration 4: Line chart.................................................................................................................11Illustration 5: Trend line................................................................................................................12Illustration 6: Network diagram.....................................................................................................15Illustration 7: Gantt chart...............................................................................................................151
INTRODUCTIONIn the business world, it is important to make effective and beneficial business decisionsin order to maximise the profits. In this context, there are different types of tools and techniquesused by researcher which are shown in the present report. In the current case, there is a touroperator i.e. ABC Limited which is going to launch a new tour product at the national as well asinternational level. For conduct the present research and analysis, both primary and secondarydata are collected and analysed for launching the product. Further, report emphasises on variouskinds of measures of central tendency and dispersion which help the scholar in doing effectiveresearch and get reliable data. Apart from this, it shows financial data with the help of graphicalrepresentation. Besides this, present research describes about the financial tools as well as projectmanagement techniques such as network diagram.TASK 11.1 Plan in order to collect data for researchTo conduct a research, raw data is essential for the investigator which is collected fromdifferent sources. Data is gathered with the help of primary as well as secondary sources inwhich various kinds of parameters are available which help to derive better and reliableinformation (Wyse, 2012). With the new product, travellers or visitors will be able to visitvarious national and international destinations in an easy way. Data which is collected for thefirst time by scholar is known as primary information while, data which is already gathered andpublished by other investigators is known as secondary.Furthermore, for gathering primary data, there are numerous sources available for rawdata collection like survey, interview, questionnaire, etc. On the other side, in secondary data, itconsiders various sources such as publication, articles, newspapers, journals and annual report ofthe firm (Mackey and Gass, 2015). In the present case, questionnaire is to be designed anddistributed among 40 people between local community of London in order to know theirpreferences, attitude, behaviour of buying, etc. Further, annual report of ABC Limited is to beused for collecting secondary data.1.2 Survey methodology and sampling methodSurvey methodology shows the tools and techniques that are used for research on aparticular topic. Here, to analyse the market in order to launch a new tour product, questionnaire2
is to be framed and distributed with the help of internet and online tools such as social media.The respective methodology provides reliable facts and figures without consuming extra time(Neuman and Robson, 2012). Further, to derive prices of tour packages and revenue as well asprofit, annual report of ABC Limited is to be used.Moreover, for the purpose of data analysis, sample data is required for distributingquestionnaire among people. There are different kinds of sampling methods available such ascluster, stratified, simple random as well as convenience. In the present case, for collectingsample data of 40 people between local communities of London, simple random samplingmethod is used. According to the respective technique, the scholar derive sample data on thebasis of randomly without using any parameter.. It is a widely used method and easy for theinvestigator as well.1.3 Design a questionnaire for researchQUESTIONNAIREDemographic informationName _________________Gender ________________Age ___________________Q 1. Do you use the tour products offered by tour and travel company, ABC Limited?YesNoQ 2. How much you spend on travelling in one year?Less than £20,000£20,000 - £45,000£45,000 – £80,000£80,000 - £1,00,000More than £1,00,0003
Q 3. Which type of destination you like to prefer to travel?HistoricalNaturalSpiritualAny other ______________Q 4. Which factor do you consider while making decision to purchase a tour product?PriceSafetyDestinationFacilitiesAny other _____________Q 5. Do you agree that current tour products offered by ABC Limited meet with yoursatisfaction level up to greater extent ?Highly agreeAgreeNeutralDisagreeHighly disagreeQ 6. Which type of tour packages you often purchase?National packagesInternational packagesQ 7. Any feedback or suggestions for improvements?________________________________________4
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Business Decision Making Process (Doc)lg...
|20
|3945
|216
Business Decision Making Assignment - Restaurant Chainlg...
|23
|4751
|147
BUSINESS DECISION MAKING TABLE OF CONTENTS INTROUCTION 3 TASK 13lg...
|21
|4914
|433
Business decision making table of contents introduction 4 TASK 14lg...
|19
|3736
|361
Business Decision Making Assignment : Aquapetlg...
|19
|3288
|210
Business Decision Making in Kfc Assignmentlg...
|20
|4807
|2939