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Report on Business Decision Making in Murano hotel

   

Added on  2020-06-03

19 Pages4153 Words96 Views
Professional Development
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Business Decision Making
Report on Business Decision Making in Murano hotel_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Creation of plan for collecting data.......................................................................................11.2 Survey methodology and sample frame used for collecting the information.......................21.3 Designing of questionnaire...................................................................................................2TASK 2............................................................................................................................................42.1 Creation and summarising of data.........................................................................................42.2 Use of calculation for making a valid recommendation.......................................................72.3 Analysis of data by using measure of dispersion..................................................................72.4 Use of quartile, percentile and correlation coefficient in making a valid decision...............93.1 & 3.2 Using of graphs and charts for effective presentation and making trend lines inforecasting.................................................................................................................................103.3 Preparation of business presentation...................................................................................113.4 Formal business report........................................................................................................11TASK 3..........................................................................................................................................124.1 Use of appropriate information tool....................................................................................124.2 Preparation of project plan and critical path.......................................................................12...................................................................................................................................................144.3 Use financial tool for decision making...............................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
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Report on Business Decision Making in Murano hotel_3

INTRODUCTIONMaking the right decision for the business is an appropriate tool through which a businesscan work and move in right direction. But taking the right judgement on time is not a easy workand for this authority have to struggle more and more. Business decision making is a suitableterm which signifies that how an organisation will lead to take adequate judgements which arebeneficial for long term purpose. London is a one of a attractive city not for the visit purpose butits culture area is also vast. Murano is one of a well established small chain restaurant in UK andnow management want to open second restaurant in London. For this, they have to analyse thesuitable data which are related with taste, preference, price and location. For such thing, firstlymanagement have to conduct a research through which they are going to collect informationabout their business from users. Data interpretation or analysis is also must and for this variousadequate methods have to use. Moreover, it is not enough and by researcher have to present suchreport in front of senior management by providing suitable recommendations on them. Forcalculating the project feasibility net present value and internal rate of return have to measure.By considering all of them decision makers will take appropriate decision for long term. TASK 11.1 Creation of plan for collecting dataA perfect plan is an essential element through which any project become success for longterm. Murano want to conduct a survey under which they will going to open another restaurantrestaurant in London and for this they collect several information from users (Barry, 2012). Insuch relation following terms have to consider by researcher and formulate a plan under which asurvey become successful and provide accurate data:Time of survey: A major thing which is related with Murano survey is time under whichmanagement give one month time to conduct a research properly and analyse andinterpret the data. Methods: Researcher can use various methods of survey like questionnaire, interviewetc. For this questionnaire is use by Murano hotel so that they can take opinion of morethan 50 people at one time. Type of data: Various type of data are identified which are primary, secondary,qualitative and quantitative. For this research primary and secondary data is used in1
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