Report on Business Analysis and Planning

BUSINESS ANALYSIS AND PLANNING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Implementation of data collection strategy from primary and secondary sources......................1
Complex range of techniques to analyze data.............................................................................2
Use of software for analysis......................................................................................................11
CONCLUSION..............................................................................................................................12

INTRODUCTION
Residential care homes number are growing consistently in the UK. In current research
project opening of new luxury residential care home is proposed. Consortium is ready to make
investment in it because it is one of innovative plan and it will be one first residential care home
that will be luxorious in nature. In different stages consortium will make investment in project .
primary data will be gathered and same will be analyzed by using statistitical tools and literature
review will be done as part of secondary analysis. In the current report perception that people
have about residential care homes is measured and impact of varied factors on its profitability is
measured. In this regard descriptive analysis, thematic analysis and regression analysis is done in
the report and results are interpreted. At end of the report significence of use SPSS for analysis
of data is explained in detail.
Implementation of data collection strategy from primary and secondary sources
UK is one of the developed nation in the Europe and healthcare industry is one of the
main domain to which due importance is given by the nation government. With passage of time
residential care homes number are increasing at fast rate in the nation. Thus, it is lucrative
business and good amount of profit can be earned in the business as there are number of people
that intends to take services of residential care homes as their relatives can not give services in
better manner. As per given scenerio consortium is prepared to make investment in the business
plan of residential care home but it is very important to measure viability of the proposal so as to
ensure that investment is made in right direction (Smith, 2015). Thus, in this regard it is very
important to collect data in proper manner and to prepare strategy about sort of data and way in
which same will be collected from the varied sources. As part of strategy primary data will be
taken from the people that are currently residing in residential care homes and data will be
gathered in respect to family charactristics, staff, services and activities, independence and
choice, social factors, resident characteristics and resident family satisfaction. By doing so it will
be identified that to what extent people are satisfied from residential care homes and what factors
need to be considered heavily while delievering services to customers. In order to meaure
viability of proposal for consortium or venture capitalists it is very important to understand
market so as to take them in confidence for future time period that business in which they are
making invstment is highly profitable in nature.
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In order to conduct primary research questionnaire will distributed among sample of 50
people which will include staff and patients that are in residential care home and detail
investigation will be done about their satisfaction and expectation that they have from the
residential care homes. Apart from this, secondary data analysis will also be done and under this
previous research studies will be analyzed. In research papers lots of facts and figures are
available and by analyzing same it can be identified whether business idea is viable and if yes
then what things need to be taken in to consideration to improve business performance. Apart
from analyzing facts and figures literature that are relevant can also be reviewed so as to measure
viability of project and determining strategy that must be followed to make business profitable.
It can be said that both data collection strategy are best suited to the requirements. As
primary data is taken from reliable sources and appropriate strategy is followed to collect data. In
same secondary source is approporiately used to gather data and in this way perfect data
collection strategy is developed in the business (Zimmerman, Murillo-Sánchez and Thomas,
2011). However, data collection alone is not sufficient because when same is gathered there is
probability that there may be lots of mistakes in the data. Many times respondents answer one
question accurately but answer other interlinked answer inaccurately. In order to solve this
problem after collection of data same will be analyzed and it will be identified whether response
given by respondents are accurate. After this operations will be performed outlier detection test
will be done because in parametric test outliers presence can not be tolerated in data as by using
same it is not possible to make accurate prediction and business decision. In order to remove
outlier relevant operations will be performed on software and detected outliers will be replaced
by mode value. In this way relevant data will be developed and same will be used for analysis
purpose. It can be said that is will be perfect approach for data collection and rectification of
data. It is possible that there may be some missing values in dataset and for treating it mode
value of the variable can be used and in this way data treatment can be done in proper manner
and same can be used for analysis purpose. Thus, it can be said that data collection and treatment
plan is prepared in proper manner and by using primary and secondary data analysis will be done
in proper manner (Saunders and Lewis, 2012). Thus, it can be said that research willl be carried
out in right direction and in proper manner. There are few of points on which due attention need
to be paid to ensure that results obtained are perfect. In this way entire research work will be
carried out by researcher.
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Literature review
According to McDonald, (2010) sales revenue of care taker homes are highly affected by
number of factors like level of care taking by care takers of patient in premises and time to time
checking of health of individuals at workplace. Apart from this, level of food quality given by
care takers to patients is another major factor that have impact on profitability of care taking
homes. In order to attract more and more number of people care taking homes need to improve
their services.
Contrary to this Barr, (2010) state that people does not consider all these factors while
selectinng any care home. They only identify what sort of image care taking home have among
people. There are many people who does not even check about such kind of image. People
simply according to their requirements choose any care taking home to fulfill their needs. Hence,
care taking homes must try to do their proper marketing. However, they to moderate extent must
ensure that proper taking care of patients is done in premises and timt to time check up is done.
By doing so word of mouth marketing can be promoted among people.
Complex range of techniques to analyze data
In order to analyze data number of techniques can be used. It depend on the research
objectives that which sort of data one takes for analysis purpose. Objective of undertaking
present research study are given below.
 To develop broad understanding of residential care home business.
 To identify issues that people have in residential care homes.
 To identify factors after considering which people finally make decision in respect to
selection of residential care homes.
 To find out impact of occupancy rate on earning of profit in business.
Techniques used for analysis of data Observation: Under this method facts are observed and same are analyzed in order to
identify facts and figures that are hidden in dataset (Burke, 2013). Advantage of
observation is that it facilitate deep analysis. Negative side is that if observation will not
done properly negative conclusions can be formed on basis of limited available
information.
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 Focus group: Focus group is strategy under which there are group of people who focused
on specific topic and carry discussion on it. Advantage is that in depth analysis is done
and negative point is that in numeric form data can not be gathered in this method. Contact interview: In this method interview of individual is taken and facts are analyzed.
Merit of method is that from different people wide variety of facts can be gathered.
Demerit is that sufficent numeric facts can not be collcted from interview. Thematic analysis: In order to analyze data thematic analysis method will be used and
under this results obtained from different respondents will be analyzed. In this regard,
pictorial presentation of facts will be done and it will be identified that in which direction
respondents are giving response to asked question. Positive and negative response can be
received from sample units and all of them will be reveal in charts. Hence, it can be said
that tables will give better picture of what people think about residential care homes.
In order to analyze data in proper manner both primary and secondary data is taken in to
account. Primary data is analyzed by using thematic analysis method. Apart from this,
descriptive analysis technique and regression analysis is also used to analyzed data in
current report. Thematic analysis is done becausse by using same it can be identified that
collectively what sort of response is given by respondents on asked question. Descriptive
analysis tool is used to explore data deeply and identifying that apart from average
repsonse what other point of view many respondents have. Regression analysis is used to
identify whether there is significent mean difference between different variables and if
one factor get change what sort of variation will come in other variable.
Doyouknowaboutresidentialcarehomes
Frequency Percent Valid Percent Cumulative
Percent
Valid
Yes 50 90.0 90.0 100.0
No 0 10.0 10.0 0.0
Total 50 100.0 100.0
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