Concept of Business Decision Making PDF

Added on - 09 Dec 2020

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BUSINESS DECISIONMAKING
EXECUTIVE SUMMARYReport concise the concept of business decision making to analyse the competitivebusiness environment. This is one of the supermarket that remain competitive. The marketresearch team in Full discount Ltd wants to evaluate the discount structure in retail super market.Competitiveness is evaluated based on B&M and Home.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1DATA COLLECTION....................................................................................................................1Primary Data Collection..............................................................................................................1Secondary Data Collection..........................................................................................................2Survey Methodology and Sampling Frame.................................................................................2Questionnaire...............................................................................................................................3Responses.....................................................................................................................................4DATA ANALYSIS..........................................................................................................................5Primary Data................................................................................................................................5Secondary Data..........................................................................................................................11RECOMMENDATION.................................................................................................................12CONCLUSION..............................................................................................................................13REFRENCES...................................................................................................................................1
INTRODUCTIONBusiness Decision-making is a process in which company takes important decision forthe benefit of the company(Bazerman and Moore, 2013). It is considered as an integral part inmodern management. It is important for a mangers to undergo the decision-making process as itis the key role of a manager. Business decision helps company to improve its efficiency andsustain its market position. This report contains the research methodology used by the marketresearch team of full discount Ltd, in order to compete with the existing market players. Thisreport also contains various types of methods used and different type of data collection methodsused such as primary and secondary. In this report for the collection of primary dataquestionnaire is used and for secondary data companies past 3 years record is used. It alsocontains the analysis of data collected through various sources and focuses on the various optionsavailable to full discount Ltd to compete with big supermarket and existing players.DATA COLLECTIONData collection is a process in which a company or an individual collects information forall different and relevant sources in order to find a solution to a research problem, evaluate theout comes received from various sources and test various hypothesis. Companies collect data forvarious purposes which include the identification of trend and knowing the taste and preferenceof its customers. Data can be collected using two methods; Primary Data Collection Method andSecondary Data Collection.Primary Data CollectionPrimary data collection methods is the method in which the data are collected by theresearcher itself, it is divide into two forms, Qualitative data collection and Quantitative datacollection.Qualitative Data Collection:It is a method which involves the questionnaire with openended questions, this research is associated closely with feelings, emotions, words and other nonquantifiable elements(Popovič, et.al., 2012). This data aims to the in depth understanding of arespondent.Quantitative Data Collection:It is a method of data collection which are basicallybased on the mathematical calculation, in order to collect quantitative data questionnaires with1
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