Business Decision Making assignment - Sainsbury
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Added on 2019-12-03
Business Decision Making assignment - Sainsbury
Added on 2019-12-03
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BUSINESSDECISION MAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41.1 Planning for collection of data...............................................................................................41.2 Stating the survey methodology and sampling frame used by the researcher.......................51.3 Designing of questionnaire....................................................................................................6TASK 2............................................................................................................................................72.1: Statistical Analysis................................................................................................................72.2: Percentile............................................................................................................................112.3: Correlation coefficient........................................................................................................13TASK 3..........................................................................................................................................133.1: Statistical Graph..................................................................................................................133.2: Trend line for sales and operating profit variables.............................................................163.4: Formal business report........................................................................................................16........................................................................................................................................................18PART B..........................................................................................................................................19Internal rate of return.................................................................................................................204.3. Calculating Internal rate of return by linear interpolation..................................................21IRR of Project A...................................................................................................................21CONCLUSION..............................................................................................................................22REFERENCES..............................................................................................................................23
INTRODUCTIONIt is very important for any business to draft and implement different strategies. But forproper formulation and implementation of strategies, it is very important for all the businessorganizations to focus on decision making. Decision making plays very crucial role in business’ssuccess. Through quick and accurate decision making, management of a company can deviseproper strategies that can provide competitive edge to it as compared to its peer group(Hedgebeth, 2007). Decision can be related to any field; it can be financial, investment,diversification, growth, shut down, etc. But for good decision making, it is very important tohave proper access to information. Without adequate information, it will be very difficult for themanagement to draw out any conclusion. There are various tools that help in effective decisionmaking. Through these tools, available information can be analyzed in better manner andmanagement can align the numerical data with its objectives. Further, amount of subjectivity isalso reduced by the decision making tools (Hacklin and Wallnofer, 2012).The present report deals with Sainsbury and its decision making. This work will analyzevarious kinds of information available about the company which will help in decision makingprocess and to draw certain conclusion.TASK 1 Planning for collection of dataResearcher undertakes both primary and secondary data collection methods to evaluatethe effectiveness of product and services which are offered by Sainsbury. Both primary andsecondary data collection methods provide assistance to the researcher in conducting the researchin an effective manner. (Linderoth and et.al., 2006)Plan for the collection of primary data: Primary data refers to those which are collectedby the researcher for the first time specifically for the research purpose. Observation, survey andexperimental research are the source through which one can gather primary data for the researchstudy. In the present report, researcher undertakes survey technique to gather primary data. Inorder to assess to customer attitude towards products or services which are offered by Sainsbury,survey will be conducted by the researcher. For this, researcher firstly requires to select samplefrom the population. Thereafter, researcher frames appropriate questionnaire by including close3| P a g e
and opened questions upon the services offered by Sainsbury. Through this, researcher is able toconduct study in an appropriate manner and thereby, fulfills the objectives of research.Plan for the collection of secondary data:Secondary data is the information which isearlier collected by researcher or by an agency and not by the researcher himself (Gardner,2004). Scholar can gather secondary data with the help of books, newspapers, business articles,journals, previous studies, magazines, etc. Library has a huge collection of books, journals andarticles, etc. Thus, researcher can easily access secondary data to analyze the customer attitudetowards services offered by Sainsbury by approaching the library. Besides this, researcher canalso make an effective use of the findings of other researcher who make study on the similar kindof topic or issue.Thus, investigator can gather primary data by conducting survey with the help ofquestionnaire. Besides this, researcher also undertakes secondary data sources which are highlyrelated to the research issue or purpose.1.2 Stating the survey methodology and sampling frame used by the researcherSurvey:Survey is the method employed by a researcher or an agency to collect primarydata in order to find out solution to a certain problem. Sainsbury has used the survey method andby designing a structured questionnaire. The firm has included questions related to the differentissues and services and tried to collect the views of its existing and potential customers. Thequestionnaire method is the best methods for collecting data as it ensure the validity andreliability of the data (Perry, 1998). Further, since the data is collected from respondents who areusing its products and services, the company will be able to gather most accurate data. In order toconduct survey, research will acquire the e-mail id of their existing as well as potential customersthrough online means. Thus, by sending the questionnaire on mail id of customers, researcher isable to conduct survey in an effectual manner and thereby, assess the attitude of customers inrelation to product services of Sainsbury.Sampling:Sampling is a method of dividing the entire population into small numbers.Since the population size is very large. Thus, it is not possible for any researcher to survey entirepopulation due to limitation of time and money. Therefore, researcher divides the entirepopulation into small numbers and then selects an appropriate sample size from it (Jogulu andPansiri, 2011). The sample size is selected in such a manner that it is neither too small thatcorrect interpretation cannot be made from it, nor too large that it become very tedious for the4| P a g e
researcher to collect the data from all the respondents. There are basically two methods ofsample selection; probability sampling and non-probability sampling. Under probabilitysampling, all the respondents of the population have equal opportunity of being surveyed, while,in the non-probability sampling, there is no equal opportunity with all the respondents. Amongall the sampling techniques available, simple random sampling technique has been used by thecompany. It ensured that all the respondents had equal chances of being surveyed and haseliminated the chances of biasness. Further, the sample size for the given survey was 50. For thepresent investigation, researcher will send questionnaire to 50 customers of Sainsbury whichhelp them in presenting fair views on research issue.1.3 Designing of questionnaireQ1: Are you satisfied with the current products and services delivered by the company?(Yes)NoQ2: Has the company able to justify its aim “Best for food and Health”?(Yes)NoQ3: Do you think company is able to add to the interest of all stakeholders?(Yes)No Q4: In your views, are our activities environmental friendly?(Yes)NoQ5: Are our products priced at correct price or are overpriced or underpriced?Underpriced(Correctly priced)OverpricedQ6: Do you think our operations results in less pollution?(Yes)NoQ7: Are you satisfied with our corporate social responsibility services?(Yes)NoQ8: How can we contribute more towards the society and greener environment?_________________________________________________________________Q9: Are you satisfied with our supporting staffs providing their services at various stores?5| P a g e
(Yes)NoQ10: How can we further improve our customer services?TASK 22.1: Statistical AnalysisFive data for which the descriptive statistics has been calculated are:Table 1: Various Parameters of the Company20122011201020092008Sales (£)2451122943214212038319287Profit beforeTax (£)712665610519434EPS (pence)28.126.523.921.217.4Number ofOutlets1012934872792823New Stores9268892935The measure of dispersion (spread, scatter or variability) determines how squeezed orstretched the distribution is. It measures various characteristics of the given data such as mean,standard deviation, Interquartile range, etc. Central tendency is contrasted with dispersion andtogether mean and standard deviation are the most widely used parameters.Sales: The below table represents the descriptive statistics of sales of Sainsbury:Table 2: Descriptive Statistical of SalesSalesStandard Error924.1553982Median21421Mode#N/AStandard Deviation2066.474292Sample Variance4270316Kurtosis-1.044542489Skewness0.34539911Range5224Minimum19287Maximum24511Sum1085456| P a g e
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