Business Decision Making : Assignment
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Added on 2020-07-23
Business Decision Making : Assignment
Added on 2020-07-23
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Business Decision Making
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Creation of plan for the collection of data............................................................................11.2 Survey methodologies and sample framing..........................................................................31.3 Designing of questionnaire...................................................................................................4TASK 2............................................................................................................................................52.1 Evaluation of data collected through research......................................................................52.2 Analysis of the result to draw important conclusions...........................................................82.3 Analysis of data using measures of dispersion...................................................................102.4 Use of quartile, percentiles and correlation coefficient to draw important conclusions.....11TASK 3..........................................................................................................................................123.1 Presentation of graphs to interpret information..................................................................123.2 Trend Line...........................................................................................................................203.3 Covered in poster................................................................................................................213.4 Formal business report........................................................................................................24TASK 4..........................................................................................................................................254.1 Information processing tools...............................................................................................254.2 Evaluation of critical path...................................................................................................254.3 Financial tools for decision-making....................................................................................27CONCLUSION..............................................................................................................................27REFERENCES..............................................................................................................................28
INTRODUCTIONMultichannel shopping refers as providence of option to the customers that buy theproducts through online mode also. This will have huge importance in current scenario because itsaves time and cost. This will provides different kind of offerings to the customers at oneplatform like clothings, home accessories, electronic products etc. In this regard many facilitiesare provided by Amazon like home delivery of products, cash on delivery, different discountoffers to customers etc. This will provides the opportunity regarding attraction of the largenumber of customers.Business decision making includes process of selecting the best optionwhich is most beneficial for organisation. Effective decision making power helps themanagement of organisation to easily achieve their predetermined targets. Large number ofbenefits are derived by organisation like improvement in quality of their services, betterconsumer satisfaction, effective management of employees and increase in profitability, etc.Primary and secondary research plays an important role in collection of information andfeedbacks from respondents regarding existing services. Amazon is an E-commerce companywhich provides different kinds of products to sell through use of online platform. Use ofinnovative technology by Amazon brings evolution in shopping channels and has a greatinfluence on the behaviour of consumers (Groebner and et. al., 2011).The present report includes creation of plan regarding collection of data, surveymethodologies and sample frame used, development of questionnaire, interpretation of data anduse of methods of dispersion, quartiles, percentiles as well as correlation coefficient to drawconclusion. Also, use of information management and financial tools to make business decisionsare described here.
TASK 11.1 Creation of plan for the collection of dataAmazon is an E-commerce Company which provides their services worldwide with thehelp of digital technology. This company provides a large number of products to be sold by theuse of online platform. Management of company wants to conduct research to know about theviews and feedbacks of consumers regarding their services and impact of innovative technologyon the behaviour of consumers. So, main reason behind conducting this research is to knowabout effect of innovative technology on the shopping habit of consumers, its contribution inmotivation of consumers, benefits regarding their existing operations, contribution to increaseprofitability and impact on high street shops and malls.There are main two methods available regarding collection of data from respondentswhich are primary and secondary source of collection. Both these methods have their ownimportance for the researcher regarding collection of information. Such collected data is furtherused by the management of Amazon to interpret important results and make changes in theirexisting technologies and services to capture high market share and enhance their decision-making power.Primary source: It is the most reliable method of data collection which is used byresearch to collect information from different sources. This includes the process of taking actualviews of respondents regarding their research questions and topic. The information provided bysuch method is accurate and reliable. Data collected by the use of this method is also called asfirst-hand information which is not available through any other sources. There are manydrawbacks of this method like it is a time consuming process as well as involve higher cost incomparison to other methods. There are many methods which are included in the primary sourceof data collection like survey, online, questionnaire, phone, etc. All these methods are havingtheir different features and importance in research work. The basic features and their use of allsuch methods are mentioned as below: Survey: It is an effective method which involves face to face interaction withrespondents. This method helps to obtain the most reliable information not only fromtheir views but also from their gestures (Ferrell and Fraedrich, 2015).
Questionnaire: This method includes the preparation of questionnaire which containsdifferent research questions asked from respondents which are selected from totalpopulation. No personal interaction with respondents and obtain limited information. Online: This is one of the cost efficient and fast primary source method which helps inobtaining the views of respondents and consumers. This includes method of online votingregarding different services and technologies which are the main topics of research.Phone: This method includes the process of telephonic conversation to attain their views.Secondary source: It is also one of the effective methods regarding collection of data ina cost efficient manner. This includes the process of collection of information from differentsources like articles, magazines, newspapers, etc. Such information is called as secondaryinformation. The data collected from this method is not much relevant to interpret conclusion. 1.2 Survey methodologies and sample framingThe main aim of Amazon behind conducting survey is to collect the information from therespondents which are going to be selected from total population. Main objective is to obtaindata regarding use of innovative technologies and their impact on the behaviour of consumers.The information collected is used by researcher to interpret important conclusion and results tomake changes. This will result in improving the decision-making power of management.Survey methodologies: This includes process of survey in market to attain informationregarding existing position of organisation in market. For this purpose, researcher has duty toassess impact of innovate technologies on high street malls and evolution of multichannelshopping. There are many tools used by the researcher to attain views of respondents on use ofsuch technologies. This collected information is used by researcher to interpret conclusion andproduce a formal business report. The method which is used to conduct survey is questionnairewhich includes research questions. It is the primary method of data collection which includes 10different questions(Ford and Richardson, 2013).Sample frame: It is the process of designing of sample frame. There are many methodsavailable which can be used to select respondents from total population. Such different methodsare like simple random, cluster, stratifies, etc. that come under the two categories i.e. probabilityand non-probability sampling. All these methods have their own importance. Researcher usedrandom sampling method regarding selection of respondents from the total population. 20
respondents are selected to collect information regarding research questions and interpretconclusion by the use of different methods of dispersion, mean, median and mode.Main aim of researcher is to use primary method of data collection and preparequestionnaire to gain the views of such 20 respondents. The basic topic which are covered forresearch and preparation of questions are mentioned below:Importance of technological innovationEvolution of multichannel shoppingImpact on high street shops and mallsImpact on consumer behaviourSocio-economic impactExisting performance of Amazon1.3 Designing of questionnaireQuestionnaire is primary source of tool which helps to gather opinions of respondentsregarding existing performance of organisation and online tools which are used by them toexpand their business operations. It is effective method to obtain real and accurate informationfrom respondents.Kind of questionnaire: Questionnaires are be of two types. First, includes the face toface interaction of researcher with respondents. This is more effective as this helps gatherinformation through their gestures. Secondly, Questionnaire is mailed to all respondents to theirofficial address. This doesn't provide detailed information because they answers the questions inyes or no (Vercellis, 2011).Importance of questionnaireQuestionnaire is primary source of data collection having large number of importance forthe researcher. Different benefits which are arrived by researcher are mentioned below:Easy to know market position of companyCollection of ideas to bring changes in existing services and quality of productsIntroduce more innovation in use of technologies to satisfy different demand ofconsumersQuestionnaireName:Age:
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