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Case Study on Business Decision-making- Syngenta

   

Added on  2020-02-05

23 Pages7013 Words61 Views
BUSINESS DECISIONMAKING

TABLE OF CONTENTSINTRODUCTION......................................................................................................................1TASK 1......................................................................................................................................1Q.1. Select country for Launching Amistar, data collection, survey methodology andsampling technique...........................................................................................................1Q.2. Designing a questionnaire for market survey...........................................................3M1..............................................................................................................................................5Skewness calculation and use in decision-making process..............................................5TASK 2......................................................................................................................................5Q.1. Measurement of central tendency.............................................................................5Q. 2. Dispersion measurement..........................................................................................7Q.3. Use of quartile, percentile and correlation coefficient..............................................9TASK 3....................................................................................................................................11Q. 1. Producing column and bar graph showing sales, cost and profits in Japanese market.........................................................................................................................................11Q.2. Presenting sales and profit trend line along with regression equation....................13Q.3. PowerPoint presentation.........................................................................................14D1.............................................................................................................................................14Time series analysis........................................................................................................14TASK 4....................................................................................................................................15Q. 1. Constructing Gantt chart and its benefits for project management tool................15Q. 2. Preparing the network diagram for warehouse construction project.....................17Q. 3. Investment decisions through using various capital budgeting tools.....................17D3.............................................................................................................................................19(1) Internal rate of return.................................................................................................19(2) Critical evaluation of capital budgeting techniques..................................................20CONCLUSION........................................................................................................................20REFERENCES.........................................................................................................................21

INTRODUCTIONEach and every entrepreneur has to make various decisions at different point of time.Decisions can be defined as a process of analysis between two or more available alternativesto select the best course of action. In context to business, it is a continuous and indispensablecomponent because every firm has to take number of decisions to sustain organizationalfunctioning. Mangers are responsible to take better quality of decisions and ensure businessgrowth in future period. Management use their technical and managerial skills in decisionmaking process of business. Initially, they determine the problems, collect information andmake in-depth analysis of it so as to take strategic decisions. It helps to improve strategiccapabilities and compete effectively in the highly competitive market place. According to the present case study, Syngenta is a global leading corporation whichhas more than 28000 employees. It serves large number of people through operating in 90countries in all over the world. It was established with the purpose of “Bringing plantpotential to life”. Amistar has its broad spectrum fungicide products which are accomplishingcompany's target through establishing effective integrated pest management. The presentproject will explain various techniques of data collection, processing as well as storage andsignificance of tools to create useful information from gathered data. It makes Syngenta ableto take qualified business decisions and enjoy success.TASK 1Q.1. Select country for Launching Amistar, data collection, survey methodology andsampling techniqueAmistar launching: As per the given scenario, line manager of company is currentlyplanning to launch Amistar in new market. US country will be the best suited for thisexpansion programme. The reason behind this is that in the United States, agriculture is oneof the major industries and a large exporter of various food items. Large proportion of USpopulation is engaged in agricultural activities, especially concentrated in Great Plains. US isa major country for seed improvement, hybridization and expanded use of crops for thedevelopment of bioplastic and bio-fuels. Wheat, Corn, Soybeans, Tobacco, Hay, Alfalfa,Cotton, Sorghum, Barley and Rice are its major crops. Moreover, it produces variety ofproducts such as Tomatoes, Potatoes, Cotton lint, Grapes, Oranges, Apples, Rice, Cottonseed, Sugar beets, Sorghum and others. US gains first position in corn production.Henceforth, the demand for fungicide products is very high. Therefore, it is clear that bylaunching Amistar in the US, Syngenta Company can possess high growth in revenues. This1 | P a g e

in turn, firm will be able to make high growth in market share through satisfying theproducer's requirement. Thus, it has become clear that United States will be an appropriatecountry for Syngenta's expansion program. Data gathering: For supporting this launching decision, line manager will requirenumerous information about US market. There are two types of sources for collectinginformation that are refereed as primary and secondary data. Description for the same hasbeen described hereunder:Primary research: Primary data refers to the information that has been collected byresearcher for the first time. It is a type of new research which carries out to acquiresome specific kind of information (Ohgaki, Burger and Kleihues, 2014).Questionnaire, interview and survey methodology are the type of primary researchtechniques. The benefit of these resources is that they help to mitigate investigator’sspecific information need. However, the weakness of such research techniques is thatthese consume lot of time and need lot of money for the purpose of collectinginformation. Syngenta’s line manager can use such techniques to determine availablemarket opportunities in the US. By using these, they can determine market demand,customer choices, their requirements, purchasing decisions and their buyingbehaviour. Secondary research: This type of information is already available in the market. Thus,researcher does not need to conduct any surveys and getting information from therespondents. Books, magazines, trade reports, newspapers, scholarly articles,literature review, published economic reports, published government reports andagricultural board reports are the techniques of secondary information collection.Moreover, in the present technological age, internet is the best source of collectingsecondary information (Lyratzopoulos and et.al., 2013). Amistar’s manager cangenerate secondary information through using web facilities, report published byNational Agricultural Statistics Services (NASS), Economic Research Services (ERS)and Foreign Agricultural services (FAS) etc. Moreover, they can make analysis ofcurrent food production through getting historical data of US agricultural industry.They can estimate potential customer demand for pesticide products through usingthis technique. The benefit of this technique is that it utilizes less time and requiresless money. However, its drawback is that it does not provide specific kind ofinformation which investigator requires for effective decision making process. 2 | P a g e

Survey methodology: Line manager can conduct market surveys to gather requiredquantity of data. Questionnaire is an effective way for this purpose. He or she can collectwide range of information through constructing different open-ended, close-ended anddichotomous questions (Fowler Jr., 2013). Further, he or she can also acquire informationabout product’s preferences, price, place, promotion and customer’s buying habits. Alongwith this, it assists manager to acquire information from a wider geographical place. It isbecause web questionnaire can be designed and sent to the respondents through using webfacilities. It takes very less time to fill up and satisfy researcher’s information need. Sampling frame: It is the method which facilitates investigator to acquireinformation about the universe through selecting an adequate size of sample (Allison andet.al., 2016). It is also an effective tool for data gathering because it is not possible for the linemanager to study overall US population. Henceforth, sampling frame can be used in whichresearcher has to choose an appropriate sample of customers who make extensive use offungicide products. This sample must include all the characteristics of universe otherwiseharmful decisions may be taken. Sampling frame can be constructed by using probabilistic ornon-probabilistic sampling (Levy and Lemeshow, 2013). Under the probabilistic sampling,each customer has an equal chance of inclusion in sample. While, it is not so happen with thenon-probabilistic sampling. Probabilistic sampling method will be used for the present casestudy in which Line manager has been taken a sample of 35 customers who are engaged inagricultural activities and use various pesticide products offered by Syngenta for cropprotection. Q.2. Designing a questionnaire for market surveyDemographic consumer information:Name: Age: Gender: Male ( ) Female ( )1. From how long, you are using Syngenta's products and services?3 to 5 year 5 to 7 year7 to 10 yearMore than 10 year2. Which is the most important factor that greatly influences your purchasing decisions?Product price3 | P a g e

Product qualityAvailable discountsProduct Marketing3. In what extent, you have been satisfied with Syngenta's product prices?Strongly satisfied SatisfiedNeutralDissatisfiedStrongly dissatisfied4. In what extent, do you satisfied with the quality of Syngenta's offered products?Strongly satisfied SatisfiedNeutralDissatisfiedStrongly dissatisfied5. Do you agree that Syngenta is maintaining its quality standards through using qualityimprovement techniques?Strongly agreeAgreeDisagreeStrongly disagree6. Which word will be the most suitable about company's offered prices?Attractive pricesReasonable pricesHigh prices7. Is Amistar makes any improvement in its integrated pest management programme forfood protection?YesNo8. Do you think that Syngenta should launch Amistar in US for business expansion?YesNo9. Which kind of marketing policy will be the best suitable for launching Amistar in the US?4 | P a g e

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