Business Decision Making Assignment Solution
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Added on 2020-10-05
Business Decision Making Assignment Solution
Added on 2020-10-05
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BUSINESS DECISION MAKING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Primary data collection and analysis............................................................................................1TASK 2..........................................................................................................................................15Secondary data collection..........................................................................................................15CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19
EXECUTIVE SUMMARY Primary data source is a data collection at the initial level. five types of methods for thecollection of primary data. primary data is collected by the company Full-Discount ltd,secondary data is collected through the third party, current ratio is referred to as liquidity ratioquick ratio is also a liquidity ratio ,
INTRODUCTIONBusiness decision making is process of decision making in business which determines thefactors effecting the company in many ways. The decision making process helps in evaluation ofvarious problems in the business. It determines the policies and procedures to be followed in thecompanies. The policies are made in order to achieve the goals and aims of then company. The report will study the primary and secondary collection of data of the companiesB&M, Home Bargains and Morrisons. The collection of the primary data will include techniquesand methods. The primary data will include the questionnaire method of data collection from thevarious person.Furthermore report will state the collection of secondary data thorough the internetsearches and libraries. The data collection both primary and secondary is done to increase theefficiency of the company by eliminating the problems of the company occurring in the normalfunctioning of organization. TASK 1 Primary data collection and analysisPrimary data collection- Primary data source is a data collection at the initial level of thesurvey by the researcher. The primary data is the first hand data or the raw data which is beingfurther processed to evaluate the performance of the companies. The collection of the data isfrom the different sources and different levels (Demil and et.al., 2015). The data collection isdone through the number of techniques. This data collection provides the true picture of theanalysis and the company at which the research is done. Primary data can be collected throughthe random sampling, conducting surveys, interviews, experiments and observations of thecurrent prevailing conditions. Although the collection of the data is effective but it is costly andtime consuming as it requires more human resources to collect the data from the general public(Devine and et.al., 2018). There are five types of methods for the collection of primary datawhich contains- Delphi techniqueInterview methodQuestionnaire MethodProjective Techniques (Ross,2016)Focus Group Interviews1
In the report the primary data is collected by the company Full-Discount ltd to do themarket research. The primary objective of this collection of data and research is to evaluate thecompanies prevailing policies. The gathering of data is on the basis of product variety, spendingon the products and services, also the customers preference of the products and services, and thepurchasing powers of customers (Primary data source, 2017). The data collected will interpret the interest of customers on various discounting policies.The data collection method used in the survey is the questionnaire method. This method involvesthe question asking process from the people to collect the relevant information. There are set of10 questions answered by 20 respondents. Questionnaire1. What is age of customer group?a) Below 18b) 19-29c) 30-49d) Above 50 2. Gender details of customers?a) Male b) Female3. What qualification does the customer posses?a) Secondaryb) Senior Secondaryc) Graduate d) Post Graduate and above4. What is customers average spending on products?a) less than $ 5000b) $ 5001- $ 10000c) $ 10001- $ 20000d) $ 20001 and above2
5. The type of market preferred for shopping ?a) Local marketb) Super marketc) Online shoppingd) Shopping Malls6. What is the preferable price for the products?a) Lowest priced productsb) Moderate price productsc) High price products7. Preferable shopping from the supermarket?a) B&Mb) Home Bargainsc) Morrisonsd) None8. The supermarket will provide best discount policies according to the customer?a) B&Mb) Home Bargainsc) Morrisons9. In which supermarket there is availability of wide range of the branded products ? a) B&M b) Home Bargainsc) Morrisons10. The supermarket who provides best ambiance ans space in the shopping store?a) B&M b) Home Bargainsc) MorrisonsFrequenciesStatistics3
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