Business Decision Making Sample Assignment PDF
Added on 2021-01-01
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Business Decision Making
TABLE OF CONTENTSTable of Contents.............................................................................................................................2INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Create a plan:....................................................................................................................31.2: Survey methodologies and sample framing:...................................................................41.3: Questionnaire design.......................................................................................................5TASK 2............................................................................................................................................62.1 Interpretation of data collected:........................................................................................62.2 Analysis of the results:.....................................................................................................82.3: Analysis of measure of dispersion...................................................................................92.4 Advantages of using quartile, percentile and coefficient correlation:..............................9TASK 3..........................................................................................................................................103.2 Trend line:......................................................................................................................143.3 Covered in PPT...............................................................................................................153.4 Formal report:.................................................................................................................16TASK 4..........................................................................................................................................164.1 Implementing information tools in decision making:....................................................164.2 Critical Path:...................................................................................................................174.3 Investment appraisal techniques:....................................................................................19CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
INTRODUCTIONBusiness decision making is the most effective tool that can be used by the organizationin order to gain the sustainability in an effective manner (Schmoldt and et. al., 2013). Decisionmaking is the tool that can be used by the organization for making an efficient manner. By usingan efficient tool in the research, food for friends is planning to expand its franchise in centralLondon. However, this can be rightly said that the business can be used for making an efficientbusiness objective in an efficient manner. Here the primary research is to be taken for doing thesurvey via questionnaire in an effective manner (Xu, 2015).TASK 11.1 Create a plan:Planning is necessary for in every task. Now, this can be rightly said that the managementof the cited restaurant needs to evaluate the proposed business environment by conductingprimary research. Questionnaire is the main tool that can be used for doing the survey. But, thereis a question about the survey. How, this data can be gathered? Well, by using primary methodsurvey can be done. Here are basically two kinds of methods for collecting the data.Primary data method: This is the data which is gathered for the first time and used for thebusiness for attaining the sustainable development. Now, this can be simply said that themanagement of the cited restaurant needs to evaluate the market where the restaurant is lookingto open its branch. There are various ways by which the primary data can be achieved in aneffective manner. Some of them are: Questionnaire, observations, interviews and others. This issimply said that the data collecting technique by using primary method is too much costly andtime consuming process as this requires so much attention while carrying research (Zolfani andet. al., 2013). This can be used when the data is short or requirement of the data is less needed.Secondary data method: This is the tool which is used by the organization for makingthe business objectives in an efficient manner. Now, this can be rightly said that the managementof the cited organization for making an efficient tool in an efficient manner. The data which havealready been published are used in the secondary method. Secondary methods are the mosteffective tool that can be used by the organization for making the business objectives achievablein an effective manner. Secondary method is the most effective method that can be attained in aneffective tool.
1.2: Survey methodologies and sample framing:The crucial aim of gathering survey for gathering information from diverse respondentsthat are highly concerned for the aim of drawing out solutions. For aiming of an efficient report,there is a strong requirement to convene the primary research that renders feedback which arerelated to their diverse kinds of problems (Shapiro and Stefkovich, 2016). This assists in formingan efficient decision and carry out the changes that could satisfy their diverse criteria.Survey methodologies: This comprises about process of gathering survey by the Foods forFriends in order to achieve the diverse respondents’ perceptions regarding cited restaurantsservices and food quality. To convene the research, cited restaurant fixed to implement primaryand secondary method of data collection (Tufféry, 2011). Under which questionnaire method isimplemented by the researcher that could comprises diverse kinds of questions related to theissues which are faced the Food for Friends and distribute among the respondents.Sample framework: This comprises process of selection of the sample from the totalpopulation. For this aim, researcher might implement diverse kinds of tools such as the randomsampling method, cluster sampling method, stratified sampling and much more. these tools forcollecting the data from the diverse respondents as this does not possible in order to conveneresearch from the entire population.Researcher opt random sampling method for collecting the data from various respondents that ismore strong and convenient tool for selection of sample from the total population. There arediverse kinds of benefits which are to be used for making sustainable development for gainingthe sustainability. This is the main cause behind the selection of this tool (Yager and Kacprzyk,2012). For purpose of convening the research, there are almost 60 respondents from the totalpopulation. Diverse kinds of issues for which diverse questions are frequently asked torespondents comprising about:Diversity in servicesQuality of food productsPriceWorking at Food for friends
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