PDF Business Decision Making

Added on - 04 Oct 2020

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Business DecisionMaking
EXECUTIVE SUMMARYThis report concise about the business decision-making process which help managers totake effective decision for the company. This report contains the research methodology which isused by researchers to carry out the research to find out the customer preference about thediscounted product and and other UK big supermarkets. It also shows the detailed analysis ofmarket share and operating profit of UK big supermarkets.
Table of ContentsEXECUTIVE SUMMARY..............................................................................................................2INTRODUCTION...........................................................................................................................1DATA COLLECTION.....................................................................................................................1Primary Data...........................................................................................................................1Secondary Data.......................................................................................................................2Survey Methodology and Sampling Methods........................................................................2Questionnaire..........................................................................................................................4Responses...............................................................................................................................5DATA ANALYSIS...........................................................................................................................6Primary data............................................................................................................................6Secondary Data.....................................................................................................................11RECOMMENDATION..................................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONBusiness decision making is a process which is used by companies to make aeffective decision before starting a new business or entering in a new market (Akpalu,Alnaa and Aglobitse, 2012). Companies conduct different types of research to find out anew trends and chances of their survival in a tough market competition. It is beneficialfor companies to conduct research before entering in a new product or starting up anew business this help them to save its resources. With the help of these researchcompanies check their survival and idea of starting a new product line or new market,these research gives a company feedback that whether they should carry out their newproject or not. The following report consists of various research methodology, types ofdata collection techniques and types of data required by Full discount Ltd to open a newstore in UK market and to compete with previous established players of that particularmarket i.e., B&M and Home Bargains. This report contains primary data collected fromdifferent consumers who are availing the services of these two companies in UK marketand secondary data is obtained from various other sources, it also includes analysis ofboth data secondary as well as primary.DATA COLLECTIONData used in a research are classified into mainly two parts i.e., Primary Dataand Secondary Data (Smyth and Lecoeuvre, 2015). These data help companies toanalyse it and prepare for the future plans of company, and also to identify problemsprevailing in society and market.Primary DataPrimary data are the data which is collected directly by the researcher frompopulation or sample of study. These are directly collected from sources like individuals,group of individuals etc. these are first hand data which is collected by a researcheritself and is not altered. There are various techniques for collection of these data suchas Questionnaire, personal interviews, focus groups, survey etc (Bogner, 2014). datacollected from these various sources are analysed by researcher to draw a conclusionand find out a solution of that particular problem. In the above given case scenario theproblem identified is that a company want to start a new discounted superstore in UK1
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