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Importance of Business Decision Making in Organisation

   

Added on  2020-01-28

27 Pages4742 Words41 Views
BUSINESS DECISIONMAKING1

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INTRODUCTIONIn every kinds of business organizations there are various types of complexities andproblems come into consideration and hamper the firm. for this condition there are researchneeded for identifying reasons and causes of occurring such problems and make appropriatedecisions. In the current project a tour company is going to launch a new tour product and forwhich research is carry out to take views of the local community. The overall current report isdivided in four parts where first part is about the data collection as well as survey methodology.Second part of the project shows different kinds of statistical tools which are used for takingeffectual business decisions. Furthermore, the third and fourth task of the project showsgraphical representation of data as well as project management and financial tools respectivelyfor taking the decisions in tour firm.TASK 11.1 Identification of collecting research data from different sourcesFor carry out particular research in order to resolve business problems there are data andinformation plays an integral role. Because without availability of the appropriate data thecompany cannot analyse problem and make decisions. There are mainly two kinds of data whichare such as primary and secondary and derived using its respective tools (Taylor, Bogdan andDeVault, 2015). In the current report primary sources are used because it is based on the primaryinformation and data where questionnaire and survey method is consisted. The questionnaire isprepared and distributed between the local community and assessed that regarding tour productwhat they thinks and requires. By this tour producer easily know that which kind of destinationsand products it needs to made and up to which costs and prices.At the present situation the data are collected with the help of primary source which islike questionnaire for gathering reliable information. In the primary data collection variousnumber of sources are available which are such as questionnaire, survey, interview, groupdiscussions etc. On the other side to collect data of secondary type there are available sources arelike publications, newspapers, articles, annual report of the company etc. To collect and derive ofsales value the scholar use annual report of the tour company. In the report sales and revenue ofdifferent destinations is given and by taking help of that charts are made. In this, questionnaire3

which are prepared are to be given to 90 number of local community and then feedback as wellas suggestions are to be taken from such respondents.1.2 Presenting the survey methodology and sampling techniqueThe method by which overall survey is to be conducted and data are derived is known assurvey methodology. In the current scenario for derive data questionnaire are distributed with thehelp of internet under which mainly two sources are used like as social networks and email.Further, feedbacks are also taken from the respondents using same methodology (Kerr and et.al.,2014). Apart from this for take the sample data simple random sampling technique is used wherescholar derive sample randomly. In this case sample of 90 local community is taken and reasonfor doing survey on local community is that the tour producer going to launch destinations forthe people.1.3 Designing research questionnaireQuestionnaireName _______________Gender _____________Que. 1. Age group of your under which you belongs ?20-35 years35-50 years50-65 years65 years and moreQue. 2: Up to which extent you agree that, tour products as well as services which are providedto you fulfill your satisfaction and requirements ?Higher extenthigh extent NeutralLow level4

Lower extentQue. 3: How frequent you used to purchase tour packages of various number of destinationswithin every one year ?Once in a monthTwice in a yearOnce in a yearThrice in a yearVery rarelyQue. 4: Do you agree that, in the future years you will definitely buy tour product fordestination A which is Morocco ?Highly disagreeDisagreeNeutralAgreeHighly agreeQue. 7: Up to which extent of the amount of tour product you will be ready to purchase fordestination A which is Morocco for every member ?£500 but less than 525£525 but less than 550£550 but less than 575£575 but less than 600£600 but less than 625Que. 6: Do you agree that, in the future years you will definitely buy tour product fordestination B which is Turkey ?5

Highly disagreeDisagreeNeutralAgreeHighly agreeQue. 7: Up to which extent of the amount of tour product you will be ready to purchase fordestination B which is Turkey for every member ?£500 but less than 525£525 but less than 550£550 but less than 575£575 but less than 600£600 but less than 625Que. 8: Do you agree that, in the future years you will definitely buy tour product fordestination C which is Cuba ?Strongly disagreeDisagreeNeutralAgreeStrongly agreeQue. 9: Up to which extent of the amount of tour product you will be ready to purchase fordestination C which is Cuba for every member ?£700 but less than 725£725 but less than 7506

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