Importance of Sampling in Business and Finance: A Case Study of Unilever

This report discusses the importance of sampling in business and finance, with a focus on Unilever. It explains the two methods of sampling, random and non-random, and how Unilever uses them. The report also highlights the impact of inflation on workers' wages and salaries in Unilever and why the company needs to increase them. It concludes with recommendations for the company to improve its employees' financial situation.

Data Skills

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
1. Explain why statisticians uses a sample while dealing with large data population. Identify
the two methods of sampling:.....................................................................................................3
2. Reasons why the Unilever have to increase the wages and the salaries of the workers ......4
CONCLUSION ...............................................................................................................................5
Recommendation.............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Data Skills refers to managing of the data in that way by the help of which the
organisation or any authority can use it as an meaningful information. In this report importance
of sampling are going to be discussed which helps the organisation in the statical analysis of the
demand of the consumer in the market (Burchinal and et.al., 2020). This report includes the
topic related the topic related to business and finance of the retail sector. It means that this report
shows that how the retail companies like Unilever have use sampling method in their business
activity. With sampling the affects of inflation after the Covid pandemic on the workers of the
Unilever are also mentioned below. The price of the basic commodity are increasing very
rapidly. As compare to them, the salary and wages of the workers in Unilever organisation are
also increasing but they are not enough to meet their basic requirements. In this report, all the
reasons due to which the Unilever have to increase the wages and salaries of the workers are also
discussed below.
TASK
1. Explain why statisticians uses a sample while dealing with large data population. Identify the
two methods of sampling:
Sampling is considered as a process which helps the statistician by selecting the
predetermined data from the large population. It makes the work of the statistician easy so that
they can analyse the statical data accurately and efficiently.
There Two methods of sampling which are given below-
Random Sampling- Through this method the statisticians selects the data without any
concern. In this method each sample have a same probability for being chosen. The retail
business like Unilever have also use sampling methods through which the consumers get attract
towards them. Through random sampling methods the retail organisations like Unilever provide
sample product in the market to random consumers so that they can get the feedback from them.
The feedback of the consumer are gathered by the survey document. This document contains
several questions which the Unilever have mentioned so that they can make the changes
according to the need and desire of the customers.

Non random sampling- It refers to selection of the data according to the demand of the
research. In this sampling the probability of selecting the sample data is not equal (Green, 2021).
It is because the statistician have a motive of selecting those samples which helps them to
achieve their goals. Different types of non random sampling are convenience sampling,
purposive sampling, and voluntary sampling. This method is also use by the Unilever. The
Unilever organisation use this method because through this method they can target the particular
area. It is because by using this method Unilever can increase their sales and value of goodwill in
the area where they are not able to sale their product. Through this method the Unilever can find
out their reasons behind the low sales and improve their services so that the consumers of that
particular area can attract towards
2. Reasons why the Unilever have to increase the wages and the salaries of the workers
The main reason why the organisation have to increase the wages and the salaries of the
workers is the Inflation (Handayani and et.al., 2020). Inflation refers to the situation where there
is a rise in the price of the commodity in the market of the country over a particular period of
time. Due to inflation conditions in the country the workers of the Unilever organisation are not
able to purchase any thing. Because their purchasing power get decrease. They are unable to
purchase basic products which are important for living a life. These conditions make their life
difficult. That's why Unilever have to increase the wages of their workers. Unilever organisation
did not get any impact on them if they increase their wages. It is because the organisation have
earn huge profit because there is huge demand in the market for the retail products. The impact
of inflation on the wages of workers can be describe by the following graph.

The above diagram can shows the real wages of the worker after the pandemic situation.
It is clearly visible that due to the inflation real wages of the workers get decrease by the huge
margin. In the month of October for the year 2021 the real wages of the workers get decrease to
the negative. It means the workers of the Unilever are not able to live their life comfortably. This
situation can affect the life of the family of workers very badly.
After the Covid 19 or during the period of Covid the Unilever was earning profits
because they are dealing in the grocery or health care products. During the pandemic or after the
pandemic the demand of the heath care items and grocery items are increasing very rapidly. Due
to this the organisation earn enough profits. With increasing in the demand of these products the
price of basic products are also increasing due to inflation. Basic products like petrol, diesel,
food, transportation and many more as a result the workers of the Unilever are not able to meet
their requirements so that's why the organisation can afford to pay the increasing amount of
salary to their workers so that they can fulfil their basic needs. This effort of the helps the
organisation to grow the bond and belief of workers toward them and they will do their work
with a great efficiency (Hanley and et.al., 2019).
The above figure shows the impact of inflation and Covid pandemic. The above diagram
clearly shows that the inflation in the organisation get increase by the 0.7%. This situation
affect the performance of the workers also because they are unable to focus on their work. If the
Unilever increase their wages then the workers get motivate and start working with great
efficiency as result the organisation will be able to increase their production level. As a result
they get more profit and income their organisation.

The above figure is the last which shows inflation and wages. The above figure tells that
if the inflation in country get increasing continuously then the wages of the workers should also
get increase. It is because the if the wages did not increase then they are not able to survive in the
present conditions for so long.
CONCLUSION
From the above report it concluded that the inflation situation in the country can affect
the life style of the citizens of the country. In this case the workers and employees of the
Unilever organisation are suffering from the rising in the price of the commodities like petrol
and foods and these commodities are basic need of every consumer. The Unilever organisation
have earn large profit in the last few years because of increasing in the demand of grocery items
and health care product during Covid. The cost of production was low as compare to present
time and the Unilever did not have so much impact of inflation. It is because they are producing
large amount of products at a low cost so they are able to raise the salaries of the employees in
the organisation. If Unilever increase their wages then they have adopt new strategies which can
attract their costumer. As a result they are able to increase their sales and profit margoin. Due to
increasing in the wages of the workers of the Unilever get motivated and increase the efficiency.
This will reduce their cost and increase their profit margin. So if the increase the wages then this
situation can also provide benefit to the organisation and increase their growth in future. The

above report also include some basic information about the sample and he reason why the
statisticians use sample in their research are mentioned above in this report.
Recommendation
After analysing the above report it can be observed the the worker need to get hike in
their salaries so that they can fight with the inflation conditions in the country. The Unilever
organisation have to take good care of their employees by providing financial assistance so that
the they survive in the inflation situation easily. This action can help the organisation also
because the employees of the Unilever start doing efficient work in the organisation.

APPENDIX
Figure1.
Figure2.
Figure3.

REFERENCES
Books and Journals
Burchinal, M. and et.al., 2020. School-entry skills predicting school-age academic and social–
emotional trajectories. Early Childhood Research Quarterly. 51, pp.67-80.
Green, F., 2021. British teachers’ declining job quality: evidence from the Skills and
Employment Survey. Oxford Review of Education. 47(3), pp.386-403.
Handayani, M.N. and et.al., 2020. Green skills understanding of agricultural vocational school
teachers around West Java Indonesia. Indonesian Journal of Science and
Technology. 5(1), pp.21-30.
Hanley, K. and et.al., 2019. Monitoring communication skills progress of medical students:
establishing a baseline has value, predicting the future is difficult. Patient education and
counseling. 102(2), pp.309-315.
Kendellen, K. and Camiré, M., 2020. Going beyond the interview: Methodological
considerations for “getting at” life skills transfer using a longitudinal integrated
qualitative approach. Qualitative Research in Sport, Exercise and Health. 12(1), pp.91-
107.
Khoiri, A. and et.al., 2019. How Is Students’ Creative Thinking Skills? An Ethnoscience
Learning Implementation. Jurnal ilmiah pendidikan fisika Al-Biruni, 8(2), pp.153-163.
Stone, R., Cooke, M. and Mitchell, M., 2020. Exploring the meaning of undergraduate nursing
students' experiences and confidence in clinical skills using video. Nurse Education
Today. 86, p.104322.