Decision Making and Business Ethics

This document discusses various decision-making techniques and tools used in business ethics. It provides a comprehensive overview of different approaches, including managerial decision-making, data science, and multiple attribute decision making. The document also references relevant literature and online resources for further study.

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Creation of plan.....................................................................................................................1
1.2 Survey the methodology and sampling framing used...........................................................2
1.3 Questionnaire........................................................................................................................3
TASK 2............................................................................................................................................5
2.1 Analysis of the information.Yes, they are ............................................................................5
2.2 Evaluation of the results........................................................................................................8
2.3 Analaysis of information and different methods of dispersion.............................................9
2.4 Use of quartiles, percentiles and correlation cofficient.......................................................10
TASK 3..........................................................................................................................................10
3.1 Presentation and this provide information..........................................................................10
3.2 Trend line............................................................................................................................14
3.3 Covered in ppt.....................................................................................................................15
3.4 Formal busines report..........................................................................................................15
TASK 4..........................................................................................................................................16
4.1 Information processing tools...............................................................................................16
4.2 Analysis of critical path......................................................................................................17
4.3 Financial tools in the decision making................................................................................18
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
Online:.......................................................................................................................................19

INTRODUCTION
Decision-making is that which is a important process which help in making a selection in
between the alternativesa available with them. Generally, selecting that decision which can
provide the better result to the company with certain hep like analysis of various investment
scenario by using tools like NPV and IRR (Aharoni, Tihanyi and Connelly, 2011). Even both the
tools are such which can help in determining the maximum return in better manner in
organsiation from different investments. The report is based on the food for friends which is a
restraunt in UK and provide various services like having Banquet hall for the wedding
sceanarios and many more things too. In this assignment various things will be included like
prmiar and secondars data to produce a plan, framing of samples and methodologies too.
Questionnaire, evaluation of information and use of different mehods with dispersion and having
a contribution with the quartile, percentiles and correlation which help in concluding the result.
Hence information tools are also used with the investment criteria and with the appraisal
techniques and their decision making too.
TASK 1
1.1 Creation of plan.
Food for Friends restaurant is one of the best restaurant which providing services in UK.
With the aim to open a new outlet in London ,management decides to know opinion & feedback
of customers related to food & services they offered and their future growth prospective. For this
purpose researcher,opted for collecting data from primary and secondary source . The research
will also reveal information regarding the preferences of toady's consumers & factors existing
in business environment of London (Ferrell and Fraedrich, 2015). This will enhance their
decision making power to prepare appropriate strategies.
Primary source: It is considered as most important method of collecting first-hand
information from respondents. AS this method provides the most authentic information it helps
in getting the idea about the tastes and preferences of customers besides revealing the current
market trends and market scenario which are prevailing in food industry of UK .
 Questionnaire: It is a series of questions that are prepared to be asked from respondents
for obtaining information related to particular research or topics. Food for Friends
restaurant is one of the best restaurant which providing services in UK. With the aim to
open a new outlet in London ,management decides to know opinion & feedback of

customers related to food & services they offered and their future growth prospective. For
this purpose researcher,opted for collecting data from primary and secondary source . The
research will also reveal information regarding the preferences of toady's consumers &
factors existing in business environment of London. This will enhance their decision
making power to prepare appropriate strategies (Ford and Richardson, 2013).
 Primary source: It is considered as most important method of collecting first-hand
information from respondents. AS this method pro
 Survey: It is a face to face interaction with respondents on a particular topic by asking
pre determined questions and taking their feedbacks on a specific topic for the purpose of
testing concepts , knowing customer satisfaction level etc.
 Online: It is the most fastest, easiest and cost efficient way of gathering information by
reaching larger audience. It involves use of digital technology and social media for
collecting information and getting feedbacks. As it is convenient option respondents tends
to give authentic information ,
Secondary source: It is the second hand information collected by someone other than the
user itself which already has been published in newspapers and magazines. This type of
information doesn't help in ascertaining public opinion as it is based on past performance of
Food for Friends restaurant (Gigerenzer and Gaissmaier, 2011).
1.2 Survey the methodology and sampling framing used.
Even though the main aim of food for friends that they have to make a research about
various things in market and this help in having a better collection and information too from the
various respondents in the large period of time in better manner. For this purpose and thus it
makes although to select the different respondents form the population and also uses the best
survey criteria which uses different survey methodologies to acccomplish right information and
data too.
Survey methodology: This is something which also uses the selction method and survey
which also provides different optimum things and result as well. Management of food for friends
has decided to make a research to use primary sources of data collection in better manner
(Groebner and et. al., 2011). Moreover the questionannire is such which help in making a
effective research and from this needed information can be collected in right way too. Hence
certain questions is being covered in which different aspects are aslo there.

Sample framework: This is something which consider different methods by researcher
with the respondents as well. Various methods are being there like cluster, stratifies and random
and many more too. Therefore, it is best to choose the random sampling method and almost 30
candidates are choosen from total population and thus this uis such which include various
questions and it is being asked in questionannire. The main topic which is being considered in
the sample are as follows:
 Looking forward to open their branch in UK.
 To know the quality of their services and products which they offer to people.
 To know the suggestion if customers need any changes in goods and servoces as
well.
 Strength and weakness with their current performance too.
1.3 Questionnaire.
This is that which conside and include the different important and needed questions.
Questionnaire is having various things which is a advantage in comparison with others like time
saving, collecting the information etc even in better manner though. Hence with this behaviours
and facts can be collected in great way too.
Questionnaire
Name:
Address:
Email id:
Gender:
1.) Is it executable for food for friends to open a better branch in UK?
 Yes
 No
2.) Is people are satisfied with the performance of restraunt?
 Satisfied
 Not satisfied
 Moderate

3.) Is food for friends is providing their services on time or not?
 Yes, they are
 No, they are not
 Sometimes, they do
4.) Restraunt is using technology in better manner for effective working?
 Yes
 No
5.) Is product and services are satisfcatory in taste?
 Yes
 No
6.) Ambiance or banquet hall is well maintained or not?
 Yes
 No
7.) Do customer of UK will accept the new opening of food for friends?
 Yes
 No
8.) Is food for friends are charging high prices for their product and services?
 Yes
 No
9.) Diversified condition of activities will help in establishing restraunt in newer city?
 Yes
 No
 May be
10.) Any reccomendations for the food for friends?
…......................................................................................................................................................
...............................................................................................
TASK 2
2.1 Analysis of the information.Yes, they are
 No, they are not

Sometimes, they do
1.) Is it possible to open a new branch in UK only?
Particulars Respondents
Yes 25
No 5
2.) Performance of restraunt is satisfactory or not?
Particulars Respondents
 Satisfied 20
 Not satisfied 6
 Moderate 4
3.) Service are on time or not?
Particulars Respondent
Yes, they are 24
No, they are not 4
Sometimes, they do 2

4.) Is technology used in better manner?
Particulars Respondent
Yes 27
No 3
5.) Good in taste or not?
Particulars Respondent
Yes 22
No 8
6.) Ambiance is good or not?
Particulars Respondent
Yes 24
No 6

7.) Do customer acccept newer company?
Particulars Respondent
Yes 28
No 2
8.) High prices are charged?
Particulars Respondent
Yes 26
No 4
9.) Diversified condition help in openeing a restraunt?
Particulars Respondent
Yes 22

No 6
May be 2
2.2 Evaluation of the results.
Year Sales Net Profit
2009 4830 1280
2010 5150 1320
2011 5500 1790
2012 5040 1780
2013 6230 1810
2014 7440 1965
2015 6500 1860
2016 6840 1999
2017 8220 2325
Particular Sales Net profit
Mean 6194.44 1792.11
Median 6230 1810
Mode 4830 1280
Mean: It is like which is required to have consideration of averages and the quantities
which is being presented in series. This is something which help in having a interpretation of the
past information in the precise form and it is something which also raise decision making power

with calculating a important conclusions in better manner too. The formula of mean is to divide
the sum of amount present in series of sales as well and with the number of years. Such average
is that helps in management of food for friends restraunt and it is a financial positionn as well.
The mean for the sales is like 6194.44 and net profit is like 1792.11.
Median: This is something that is middle level value and this is occurred with present
values in series as well. Management is for the food for friends and this help in restraunt and this
help in calculating the median and this is also done of previous sales and even net profit too
which help in increasing in better decision for power and it also takes various decision regarding
to opening of new restraunt in UK. The median is for sales is 6230 and for net profit is like 1810.
Mode: Figure of series and it is called as mdoe and this is something which help in
frequent and it is given with series. Similarly, mode is also calculated with the previous data of
sales and even the net profit of food for friends too. The amount for mode in sales is 4830 and
net series is 1280.
2.3 Analaysis of information and different methods of dispersion
Year Sales Net Profit
2009 4535 1340
2010 5260 1250
2011 6840 1650
2012 5600 1995
2013 6340 1450
2014 6540 1495
2015 5630 1990
2016 6460 1806
2017 7480 2130
Particular Sales Net
Maximum 7480 2130

Minimum 4535 1250
Standard deviation 2082.43 558.61
Correlation 0.48 0
Range: The two types of ranges are there which is being compared to interpret the
important conclusions regarding to the series. The minimum range of the sales and net are 4535
and 1250. For maximum it is 7480 and 2130.
2.4 Use of quartiles, percentiles and correlation cofficient.
These three quartiles, percentiles and correlation coefficient techniques or methodology
are adopted and implemented by Black Friars restaurant researchers for conversion of respondent
feedback information into conclusion or result format with facts and figures. These 3
methodologies will provide details analyses about market viability and customer or market
requirements from new restaurant or any other company (Maxwell, Jeffrey and Lévesque,
2011). Through these researches, an organisation specially Black Friars restaurant will be able to
knew and identify the current situation of their existing restaurant and also helps in situating new
branch or kitchen store in London.
Quartiles: This techniques will further divided a business into 3 segments which are
named as upper, lower and interquartile. These 3 segments of quartiles have their own % limits
which are coined as 75% for upper quartile, 50% for interquartile and 25% for lower quartile.
Percentiles: This methodology is used for convert information data into percentage form
which is easy to understand by each and every member of organisation. Its an easy method for
comparison between two different time duration data.
Correlation coefficient: This methodology shows positive or optimum results only in
range of 1 to -1 by relation between two variables.
TASK 3
3.1 Presentation and this provide information.
1.)
Is it possible to open a new branch in UK
only?
Respondents

Yes 25
No 5
2.)
Performance is satisfactory or not? Respondents
Satisfied 20
Not satisfied 6
Moderate 4
3.)
Is service is provided in better manner or not? Respondent
Yes No
0
5
10
15
20
25
25
5
Column B
Satisfied Not satisfied Moderate
0
5
10
15
20
25
20
6 4
Column B

Yes, they are 24
No, they are not 4
Sometimes, they do 2
4.)
Is technology used in better manner? Respondent
Yes 27
No 3
5.)
Good taste or not? Respondent
Yes 22
Yes, they are
No, they are not
Sometimes, they do
0
5
10
15
20
25
24
4 2
Column B
Yes No
0
5
10
15
20
25
30 27
3
Column B

No 8
6.)
Ambiance is good or not? Respondent
Yes 24
No 6
7.)
Do customer accept newer restraunt? Respondent
Yes 28
Yes No
0
5
10
15
20
25 22
8 Column B
Yes No
0
5
10
15
20
25
24
6 Column B

No 2
8.)
Hig priced are charged or not? Respondent
Yes 26
No 4
9.)
Diverisified condition help in opening
company?
Respondent
Yes 22
No 6
May be 2
Yes No
0
5
10
15
20
25
30 28
2
Column B
Yes No
0
5
10
15
20
25
30 26
4
Column B

3.2 Trend line.
Trend line is something which is used to forecast the sales and net profit which is
achieved by the food for friends in the near future (Nowduri, 2011). It is kind of effective
method and thus it helps in interpret the things and performance of restraunt for future and this
also help in profitability in growth and operations too.
Year Sales Net Profit
2017 7180 3500
2018 5660 2100
2019 8500 3550
2020 8860 3600
Yes No May be
0
5
10
15
20
25 22
6
2
Column B

3.3 Covered in ppt.
3.4 Formal busines report.
To,
Managing director
21 February 2018
This scientific approach research is conducted for knowing the views of customers
and respondents regarding expansion as well as performance of Black Firers restaurant products
and services in England. These research methodology or approaches provide assistance as well
as give facts and figures to a company regarding customers point of views towards their
products and services. These research will help in identifying the competitors products and
services quality and it also helps in giving respondent point of view towards their products as
well as competitors products and services (Pettigrew, 2014). Such feedbacks and research
approaches provide assistance and opportunities to the management of Black Firers restaurant
to determine their strength, weaknesses about their products and services as well as threats and
opportunities which are present in competitive market. Through these researches and feedbacks
directly from customers will provide a way or format to implement strategies and policies in a
effective and efficient manner which creates and develops healthy environment within Black
Firers restaurant. Here random sampling or selection methodology is used by researchers for
feedbacks from 30 respondents or customers by framing questionnaires. In questionnaire, 10
different mixture of questions are asked from different customers to knew about products
1 2 3 4
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
3500
2100
3550 3600 Year
Sales
Net Profit

quality, ambience in restaurant, restaurant service, products price, products and services are
available at time or not and company asked for suggestions for betterment of their products and
services. Different statistical tools and equipments are used by Black Firers restaurant to knew
the facts and figures about their products and services (Popovič, and et. al., 2012). Mean, Mode
and Median is calculated and measured for previous financial year sales as well as net profit
growth to formulate facts and figures with results from feedbacks and research through
questionnaire.
Recommendation
For improvement in Black Firers restaurant business as well as economic growth,
appointment of expertises is must who uses different statistical model and tools for
interpretation of co-respondent information or feedbacks from market. Use digital technology
or platforms for promotion as well as advertise their brand, products and services.\
Conclusion
From above business report, it has been concluded that research and feedbacks plays
vital and important role in Black Firers restaurant policies and strategies for implementing in a
efficient and effective manner. These small research will change customers mindset and will
impact positively towards organisation growth. This helps in competing with its rivalry and take
advantages of customer friendly market.
TASK 4
4.1 Information processing tools.
The main aim of sucing such tool is to improve the working and power of management in
food for friends restraunt and thus this is something which will help in activities to work
effectively. Such is that which also play tools and such thing help to have a proper
communicaton process within food for friends and thus it is also build the efficient team to
complete the targets in better manner and even though with time as well (Provost and Fawcett,
2013). Moroever, these tools are being said as strength of food for friends and it is related with
management and their staff members too. Hence this will also provide the chance to improve
productivity and profitability both. Therefore, there are several types of the informational tool
and this is something which is being mainly used for Transactional processing system, decision
support and information management as well. Use of these in restraunt are as below:

 Decision support: This is that system which is being implemented by management of the
food for friends restraunt and this is also required to perform in great way which will help
in planning for the production level in better manner. This is being used to make a great
coordination among various different activities, and this is something which will help in
attaining optimum result as well. Therefore, different system criteria to make a good
realtion in between the customer and restraunt.
 Transactional system: Although this system is like which will help in supporting the
performance of different functions and it also fix various things in procedure and this
makes to accomplishment of different task and this is being done in within the standard
tiem period stated (Tzeng and Huang, 2011). Moreover, this makes to collect information
for various sources and department in their activities and it also manages several
sceanario in right contrast which help in collecting needed result.
4.2 Analysis of critical path.
Critical path is such method and thus it alos provide more importance on choosing the
long path which help in completing the work on time as well. This approach is somewhere very
much effective and thus it also help in determination of the time period as well and this sceanrios
is requrie to complete particular project as well (Vercellis, 2011). If there is delayed criteria is
seen then the whole working scenario does also get effected with this.
Path A: 1+4+7+8 = 10Days
Path B: 1+2+5+6+8 = 15 Days
Path C: 1+2+3+7+8 = 17 Days

According to the critical path, hence longest path will be selected to complete the project
on time as well. Although with above sceanario the path C will be selected as this is among the
longest path and work will be completed with time and procedure.
4.3 Financial tools in the decision making.
Project
Discounting
factor Discounted cash inflow
Year
Cash
Flow 12.00% Present Value
0 -190000 1 -190000
1 50000 0.893 44645
2 64000 0.797 51020.8
3 58000 0.712 41284.4
4 70000 0.636 44485
Total P.V 181435.2
Initial investment
of year -190000
NPV -8564.8
IRR 9.94%
According to such scenario the investment criteria is like 190000, and NPV would be
negative with the 8564.8 and such thing will show return of 9.94%.
CONCLUSION
It has been concluded with this that, research palys an impotant role which help to
increase the decision and makes to have a power as well. Although through research the viability
is also been checked that whether the activities in UK will be required to know the internal and
external factors which also goes with prefernces in customers as well. Financial tool is that like
having NPV and IRR is being used by the like Food for friends restraunt which is ascertain for
profitability of their project as well. Use of information and their tools like TPS, DSS and MIS is
such which help inm having a effective working.