Project on Business Decision making for Murano Restaurant
17 Pages4352 Words32 Views
Added on 2020-07-23
Project on Business Decision making for Murano Restaurant
Added on 2020-07-23
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Business Decision Making
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Plan for collecting primary and secondary data...............................................................31.2 Present the survey methodology and sampling frame used..............................................41.3 Design a questionnaire for given business problem.........................................................52.1 Creation of information....................................................................................................62.2 Analyse the result for drawing valid conclusion..............................................................72.3 Analysis of information through measure of dispersion..................................................82.4 Quartile and correlation coefficient in better decision making........................................9TASK 2..........................................................................................................................................103.1 Produce graphs and spreadsheets for drawing valid conclusion....................................103.2 Create trend lines for future estimation..........................................................................113.3 Presentation for senior management..............................................................................123.4 Formal business report for management........................................................................12TASK 3..........................................................................................................................................134.1 Use of appropriate information processing tool.............................................................134.2 Prepare a project management plan with critical path system.......................................134.3 Use of financial tools for decision making.....................................................................15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONJudgement carried down an organisation towards positive direction so that efficiencycould be manage at workplace in an appropriate and suitable manner. Business decision makingdepicts as a concept which signifies about management of carious working and operation inorder to maximise effectiveness (Barlett, 2016). This project is based on business decisionsmaking for Murano restaurant whom want to maximise their operation by opening another outlet.For this aspect, they need to create a plan for collecting data and determine appropriate methodto organise a survey. Along with this, it will also reflect about use of statistical formulation oftable so that appropriate understanding get done. Although, various charts and graphs will goingto disseminate information clearly so that senior management could understand it properly andpromote ethical working. On the basis of software generated information organisation will goingto understand the things properly and make appropriate and valid decision as well. TASK 11.1 Plan for collecting primary and secondary dataIn a study, there is a need to use appropriate and suitable tool and technique to understandvarious number of facts. Thus, it is a major thing to utilise appropriate and beneficial approach tocollate data properly so that effective gain could be promoted. Thus, various data collection toolsfor Murano survey are:Primary data: Every project need raw material to understand various facts and things in asuitable manner. Primary data is helpful to understand the appropriate facts and things bygathering new information so that better working and decision making get done. Thiscould be perform through questionnaire, live surveys via social media etc. Secondary data: Another method for data collection is secondary source of informationin which already existed information get utilise to understand various appropriate andsuitable facts and figures. This get done on the basis of various books, journals, articlesetc. For this project, primary data process get utilise which further assist in better understanding ofvarious respondents opinion in order to manage and maintain effectiveness and efficiency (Beachand Lipshitz, 2017). The plan for collecting primary data signifies as follow:Need to assess the flexibility of information and data collection process
Determine and select the appropriate sample size on which investigation going to takeplace which is 80 respondentIdentify the best approach or method for data collection which is questionnaireSelect best approach to analyse the outcome1.2 Present the survey methodology and sampling frame usedSurvey define as a process through which data get collected on any define and concernproblem or a issue (Blondel and Müller-Rommel, 2016). It is important to organise appropriateand suitable survey for any define problem so that better and appropriate outcome could be gain.There are various survey methodologies get identify in a study out of which Murano need toadopt beneficial one:Questionnaire: It is one of an appropriate technique to organise a survey so that personalopinion of each and every individual could be gain. It enable in better and effectivejudgement so that beneficial interpretation get done. Personal interview: Another tool for survey is personal interview which aid in providingbetter suited aspect in order to enhance and promote effectiveness. Social media: As per the present time, social media depicts as an emerging source ofsurvey. It will assist in better and suitable gain so that efficiency and effectiveness couldbe maximise as well as youth opinion could derive. Out of all these tools, social media questionnaire distribution suppose to be determine as besttechnique in order to collect responses from several individual (Drucker, 2017). This get done byselecting respondent through company social media page followers and invite them at one placein order to fill questionnaire form. Along with this, another thing which required to interpret inworking is sampling method. Major kinds of sampling tool for Murano research are:Random samplingQuota samplingStrata sampling Out of all of them, random sampling tool get utilise in which various respondents get selectedfrom different individuals through random sampling frame. This will going to support in order todetermine best suited results for better concerning one.
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