Impact of Technological Innovation on Queensgate Shopping Centre

This report analyzes the impact of technological innovations and advancements on Queensgate Shopping Centre, the biggest shopping mall in the UK. It includes research methodology, data collection, survey analysis, measures of dispersion, and conclusions. The findings suggest that technological innovation has positively influenced sales and profits of the mall.

Business Decision Making

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
A) Formulating plan for collecting data.................................................................................1
B) Survey methodology and sampling frame.........................................................................2
C) Designing questionnaire....................................................................................................2
TASK 2............................................................................................................................................3
A) Summarising the data collected from survey....................................................................3
B) Analysing results of the survey.........................................................................................5
C) Measures of dispersion......................................................................................................5
D) Usage of quartiles, percentiles and the correlation coefficient.........................................6
TASK 3............................................................................................................................................7
A) Producing graphs to draw conclusions..............................................................................7
B) Creating trend lines for minimum three years...................................................................7
C) Poster presentation.............................................................................................................7
D) Formal report for publication............................................................................................7
TASK 4............................................................................................................................................9
A) Different systems serve the various levels of management..............................................9
B) Constructing network diagram and critical path.............................................................10
C) Capital investment appraisal techniques to take decision...............................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Business decision-making is required in order to perform tasks in effective way. Present
report deals with analysing impact of technological innovations and advancements on
Queensgate Shopping Centre which is the biggest shopping mall situated in UK. From different
campuses of college, sample of students is taken to assess whether shopping habits of customers'
affect sales of business or not. For accomplishing this, plan for data collection is created,
sampling frame is used and questionnaire is prepared. The results drawn are analysed with the
help of presentation of graphs. Network diagram and critical path are formulated. Investment
appraisal techniques are calculated in order to take decision whether to invest in project or not.
TASK 1
A) Formulating plan for collecting data
The collection of data is required to achieve so that information can be obtained in the
best possible manner. This is needed in order to carry out various perspectives of people so that
information can be gathered and conclusions may be drawn in effective way. The data will be
gathered from the students of UK CBC to get desired results regarding the technological
innovation and evolution of multichannel shopping impacting on malls and high street shops in
UK. For accomplishing this task, primary and secondary data will be collected by researcher so
that better and concrete conclusion can be drawn with regards to objective of survey. The
primary data means that it is collected for the first time and not previously taken by any scholar
to conduct research. In relation to this, data will be gathered from students from all campuses by
circulating online questionnaires and duly asked them to fill the same and provide their opinions
within stipulated time frame. In conducting research, 20 students will be taken as a sample and
simple random sampling will be used (Yuniningsih, Widodo and Wajdi, 2017).
On the other hand, secondary data means that which is already gathered previously by
researcher and is again being used by different researcher for conducting research and draw
results in the best possible manner. With regards to this, it is also known as second-hand data as
the same had been already collected and used for another research as well. This data will be
collected from various publication, journals, articles, books and as such, information can be
gathered in effective way. Thus, this plan will help to get desired results within the shortest
possible time frame and research will be completed with much ease (Phelps and Wood, 2018).
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B) Survey methodology and sampling frame
Survey methodology-
The survey methodology is the method to collect data in the best possible manner. This
will help UK CBC to analyse the impact of technological innovation on the malls and high street
shops with much ease. In relation to this, online questionnaires will be used to collect
information in effective manner from students. It is useful and fast method to gather information
and draw conclusion from the same. This will be achieved by taking respective mail ids of the
students from the administration department of campuses and as such, information will be
collected by issuing questionnaires on their mail ids. Thus, quick results can be obtained in
effective manner (Zavadskas, Antucheviciene, Turskis and Adeli, 2016).
Sampling frame-
The sampling frame is required so that information can be gathered within stipulated time
and no extra costs are incurred by the researcher. Moreover, simple random sampling method
will be used as it is one of the easiest technique to generate information with much ease by just
taking sample of population which is representative of whole universe and as such, this method
saves time of researcher to collect information in the best possible manner. In relation to this, 20
students will be taken as a sample and result will be extracted. It is one of the common method to
collect data in effective manner which is not time-consuming as well and effective conclusions
can be drawn with much ease (Zeng, Chen and Li, 2016).
C) Designing questionnaire
Questionnaire
Demographic information
Age
Name
Q1 Do you agree technological innovation is helping mall to achieve objectives?
 Strongly Agree
 Agree
 Disagree
 Strongly Disagree
 Neutral
Q2 Do you think sales are injected because of innovative techniques implemented by
Queensgate Shopping Centre?
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 Yes
 No
Q3 Do you agree that shopping habit is changing in relation to technological innovation by
mall?
 Strongly Agree
 Agree
 Disagree
 Strongly Disagree
 Neutral
Q4 How often do you visit Queensgate Shopping Centre?
 Once in a week
 Frequently
 Once in a month
 Rarely
Q5 Where do you often go for the purpose of shopping?
 Local area market
 Showrooms
 Malls
 Multi-utility stores
Q6 Do you think shopping mall is one of the best place to purchase goods?
 Yes
 No
Q7 From the below elements, which factor induces you to buy items from Queensgate
Shopping Centre?
 Convenient location
 Large variety of goods
 Low costs
 Discount available
Q8 Do you agree that technological innovation influences your buying behaviour?
 Strongly Agree
 Agree
 Disagree
 Strongly Disagree
 Neutral
Q9 Kindly specify suggestions that can be implemented in mall and impart valuable
advices...........
TASK 2
A) Summarising the data collected from survey
The descriptive statistics such as mean, median and mode are effective way of analsying
data in the best possible manner. Mean is the average of data set in the study, while median is
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mid value of the same data. On the other hand, mode implies that value which frequently occurs
in the data set.
Number of respondents
Do you think sales are injected
because of innovative techniques
implemented by Queensgate
Shopping Centre?
Do you agree that shopping
habit is changing in relation to
technological innovation by
mall?
1 1 1
2 2 1
3 1 2
4 1 1
5 1 1
6 2 2
7 1 1
8 1 1
9 1 2
10 2 1
11 1 1
12 1 1
13 1 1
14 1 1
15 1 4
16 1 1
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17 2 5
18 1 1
19 1 1
20 1 1
Mean 1.2 1.5
Median 1 1
Mode 1 1
Standard deviation
(STDEV) 0.41 1.1
B) Analysing results of the survey
Theme 1 – Sales are injected because of technological innovation
The above statistical techniques are quite effective to interpret data in the best possible
manner. It can be carried out that value of mean is 1.2 which means that respondents believe that
more quantum of sales may be effectively garnered by implementing innovative techniques and
as such, customers' purchases goods quite effectually. The shopping habits of the consumers
changes because of impact by technology. On the other hand, median is 1 which shows that half
population believes that innovative techniques induces shopping habits and as such, sales are
maximized. While, mode is 1 as well which implies technology benefits firm in increasing
profits (Tao and Hahn, 2016).
Theme 2 – Change in shopping habits of customers
The statistical results drawn shows that consumers in Queensgate Shopping Centre have
neutral experiences regarding change in shopping habits because of technological innovation by
the mall. It can be analysed from the value of mean obtained is 1.5 which shows that customers'
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experiences are overall neutral with regards to innovative techniques applied by mall. Moreover,
it implies that students have positive and negative views as well. On the other hand, median
value is 1 which means that respondents are strongly agreed that technology induces them to
change shopping habits (Thirumalai and Senthilkumar, 2017). While, value of mode calculated is
1 which also shows that consumer habits change quite effectually.
C) Measures of dispersion
The measures of dispersion are quite effective technique in assessing relationship
between two variables with much ease. It is useful for analysing impact of innovative techniques
by Queensgate Shopping Centre and respondents' view can be effectively interpreted with the
help of measures of dispersion. It can be analysed that standard deviation calculated for theme 1
is 0.41 and for theme 2 is 1.1. This shows that in the future mean value will deviate by 0.41.
While, second theme provides standard deviation of 1.1 which implies that change in shopping
habits are more than sales level of mall as it can be assessed by views of respondents.
Particulars Theme 1 Theme 2
Standard deviation (STDEV) 0.41 1.1
D) Usage of quartiles, percentiles and the correlation coefficient
Calculation of percentile
Particulars Theme 1 Theme 2
Percentile
1 1 1
2 1 1
3 1 1.25
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Calculation of quartile
Particulars Theme 1 Theme 2
Quartile
1 1 1
2 1 1
3 1 1.25
Calculation of correlation coefficient
Particulars Theme 1 Theme 2
Correlation coefficient 0.35 1
1 0.35
The above calculations are done regarding quartile, percentile and correlation coefficient.
The quartile is effective technique as it equally divides the data in three parts and results can be
interpreted in the best possible manner. Quartile is calculated for two themes in effective way.
On the other hand, percentile is useful statistical method to compute and assess value in
percentage form. It is calculated by taking percentage such as 25, 50 and 75 to effectively
interpret collected data with much ease (Tseng, Chiu and Liang, 2017). Apart from this,
correlation coefficient is computed as well which shows whether there are relations between two
variables under study or not. In simpler words, how much correlation exist between such
variables. Furthermore, correlation is of two types such as positive and negative correlation. As
the name suggests, if correlation which is at near to 1 prevails, then it is said to be positive and
perfect correlation between variables. While, negative correlation exists when value falls less
than zero. Moreover, negative correlation implies that if no correlation prevails and if one
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variable increases, decrease will found in another variable. In the present study, correlation
coefficient calculated is 0.35 which is low and it can be concluded that these are independent
variables and as a result, no correlation exists between them. Statistical tools are quite effective
in analysing data and draw conclusions.
TASK 3
A) Producing graphs to draw conclusions
B) Creating trend lines for minimum three years
C) Poster presentation
Enclosed in poster
D) Formal report for publication
To
Retail Times Magazine, UK
Date: May 19, 2018
Introduction- The present report is taken with a view to analyse how technological
innovation is impacting multi-utility shops and malls in the best possible manner. Queensgate
Shopping Centre is taken as a specific sector and analysis is made from the survey taken of
students from all campuses to assess technological innovation whether useful in injecting sales
or not. Research methodology is being used to analyse impact of innovative techniques on mall
in effectual manner.
Research Methodology- This is important aspect in carrying out research with much
ease. The research is undertaken by collecting primary and secondary data to understand impact
of technology on sales of firm. In relation to this, primary data is collected by issuing online
questionnaires to the respondents. Moreover, simple random sampling method is used to take
analysis and perception of students which are taken as a sample from various campuses of UK
CBC. The plan is implemented by collecting secondary and primary data. The online
questionnaires distributed also saves time of researcher and better conclusions are drawn from
it.
Findings from research- The research is carried out and it can be analysed from the
research that Queensgate Shopping Centre is making good quantum of sales and profits are
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maximized as well in the best possible manner. The reason behind increased sales is that
technological innovation has been implemented by the high end mall which has been beneficial
for the company. Moreover, the research also clarifies that because of innovative techniques,
future sales and profits will be increased up to a high extent. This is depicted by the trend line
graphs drawn. Moreover, consumer's shopping habits are changed and they purchase more
goods. This eventually increases sales of the firm and overall impact is seen on profits which
maximizes as well. Thus, it can be found that technological innovation is required in mall so
that future sales can be increased up too much extent.
Conclusion- Hereby it can be concluded that operations of the business is directly
enhanced because of technological advancement. It can be analysed that sales of mall are
expected to be increased in the future as depicted by the trend line equation in the best possible
manner. It is required innovative techniques should be implemented so that sales can be injected
as customers' prefer such innovation in purchasing goods in effectual manner.
TASK 4
A) Different systems serve the various levels of management
There are various management information processing tools that aids to the management
of company and as such, better and enhanced decisions can be made. The tools are described
below-
1. Transaction processing systems (TPS)-
The TPS is effective processing tool which is helpful in collecting and gathering
information of consumers by the business in the best possible manner. This is required in order
to collect customers' data in effectual manner. Customer database can be maintained with the
help of this tool. Apart from data collection, the same can be modified and retrieved with much
ease. Queensgate Shopping Centre can maintain database of its customers and as such,
information can be used for taking better and enhanced decisions. Moreover, if the management
is keen to initiate control upon expenses and as such, business can effectively control upon
expenses because of such tool (Longhurst, Gough, Clayton and Ball, 2017).
2. Management information systems (MIS)-
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MIS is another useful system of information processing as it is used for gathering of
information in effectual way. MIS uses computer and intelligent devices and gadgets to carry out
data. This will be helpful for Queensgate Shopping Centre as it will be able to collect
information in effective way so that operational tasks can be handled in the best possible way.
Overall performance can be enhanced with the help of maintaining information and as such,
enhanced decisions may be taken. Hence, firm will be benefited by using MIS and good profits
will be achieved by the company quite effectually.
3. Decision support systems (DSS)-
The DSS information processing tool help to resolve complex problems which cannot be
resolved by any other problem-solving tool. Middle level of management can take structured
decision so that problem can be resolved. In relation to this, Queensgate Shopping Centre can
easily feed data in such system and carry out better solutions in effective manner. Moreover, this
will help company to resolve complex issues and decision can be made (Neal, 2018).
B) Constructing network diagram and critical path
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The various paths are as follows-
1+ 4 + 5 +7 + 9 + 10 = Activities
8 + 6 + 4 + 4 + 8 + 1 = 31 weeks is critical path which will be taken to complete project.
C) Capital investment appraisal techniques to take decision
Year Total cash flows
Present value of
discounting factor @ 10
% Discounted Cash Flow
0
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Illustration 1: Network diagram

1 8000 0.909 7272
2 10000 0.826 8260
3 5000 0.751 3755
4 5000 0.683 3415
22702
Initial outlay 15000
NPV 7702
Year Total cash flows
0 -15000
1 8000
2 10000
3 5000
4 5000
34.77%
The investment appraisal techniques such as NPV, IRR are important to carry out
whether investment should be made in particular project or not (Net present value. 2017 ). It can
be interpreted that NPV is 7702 which is good and business will achieve good returns in the
future. On the other hand, IRR is 34.77 % which shows that rate of internal return by project will
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be accomplished. Thus, it can be said that business should invest in project as IRR and NPV both
are higher.
CONCLUSION
Hereby it can be concluded that decision-making in business plays crucial role so that
overall performance may be enhanced. The statistical techniques such as mean, median and
mode are useful for analysing whole data set in effectual manner. On the other hand, business is
benefited by implementing investment appraisal techniques in order to take decision relating to
invest in the new project or not. Thus, it can be implied that technological innovations help firm
to achieve more sales.
REFERENCES
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