KFC Management- Kfc Decision Making

Added on - 03 Dec 2019

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BUSINESS DECISONMAKING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Creation of plan for primary and secondary data.............................................................11.2 Sampling techniques.........................................................................................................21.3 Questionnaire to measure customer preference in terms of price....................................2TASK 2............................................................................................................................................42.1 Creation of information for decision making by the managers........................................42.2 Analysis of data................................................................................................................52.3 Measures of dispersion.....................................................................................................52.4 Calculation of quartile and percentile..............................................................................6TASK 3............................................................................................................................................83.1 Conclusions on the basis of questionnaire results............................................................83.2 Trend line for forecasting KFC cash flows....................................................................103.3 Covered in PPT...............................................................................................................113.4 Formal business report...................................................................................................11TASK 4..........................................................................................................................................124.1 Use of information processing tools...............................................................................124.2 Critical path method.......................................................................................................134.3 Use of financial tools......................................................................................................13CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INDEX OF TABLESTable 1: Calculation of Mean, median and mode of KFC from 2011-15........................................4Table 2: Percentage change in cash flows from FY 2011-15..........................................................5Table 3: Calculation of standard deviation......................................................................................5Table 4: Calculation of quartile for FY 2011-15.............................................................................6Table 5: Calculation of percentile for FY 2011-15..........................................................................6Table 6: Calculation of correlation..................................................................................................7Table 7: Average rate of return on KFC project............................................................................13Table 8: NPV of KFC project........................................................................................................13Table 9: Calculation of payback period of KFC project................................................................14Table 10: Calculation of IRR of KFC project................................................................................14ILLUSTRATION INDEXIllustration 1: People priority on price over quality.........................................................................8Illustration 2: People opinion about age and price preference.........................................................8Illustration 3: People opinion about relevance on income level and their price preference...........9Illustration 4: People opinion about price reduction by KFC on its products.................................9Illustration 5: Trend line of KFC cash flows.................................................................................10Illustration 6: Gantt chart of the project.........................................................................................12Illustration 7: Critical path of the project.......................................................................................12
INTRODUCTIONKFC is one of largest restaurant chain in the world. This report is prepared to create abroad understanding about the statistical tools. In this report these tools are applied on cash flowsof KFC and the results of statistical tools are interpreted. Correlation, standard deviation, quartileand percentile are also calculated and interpreted. At the end of the report, project evaluationtechniques are described in detail. In order to create a deep understanding of thee techniques,their practical applications are discussed. In this regard, calculations are done and their resultsare interpreted in a proper manner. Apart from this, information processing tools likemanagement information system, transaction processing system and decision support system areexplained in detail and their uses are also described in this report.TASK 11.1 Creation of plan for primary and secondary dataPrimary data refers to the data that is not collected by anyone and it has not beenpublished in any books, journal and magazine etc. On contrast to it, secondary data is a fact orfigure which had been collected by someone else and is published in newspaper, journal andmagazines. Collection of both primary and secondary data is necessary for the company if it isplanning to conduct any sort of research on topic that is related to specific discipline. Secondarydata is related to past and it indicates the situation which was prevalent in the earlier years inrespect to topic of the research (Hu, Zhang and Liang, 2009). In other words it can also be saidthat, from analysing secondary data researcher gets an overview of the past scenario. On theother hand, there is a primary data which is used to collect facts and figures relevant to currentscenario. By analysing and applying statistical and research tools on the collected data,researcher and top management comes to know about the current trends on the topic on whichresearch was conducted.The other benefit that secondary data gives to the researcher is that, itdevelops his understanding about past scenario (Secondary data. 2013). He uses understanding ofthe situation for preparing a questionnaire. Thus, collection of both primary and secondary datais imperative to ensure that, hard work on research will lead to desired results to the researcherand the mangers.1