Business Decision Making | Sample Assignment
Added on 2020-01-16
30 Pages5365 Words206 Views
BUSINESSDECISIONMAKING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Plan and method for collection of data.............................................................................11.2 Survey methodology and sampling method ....................................................................21.3 Questioner related to Survey Questioner..........................................................................3TASK -2...........................................................................................................................................62.1 mean,mode.median...........................................................................................................62.2 interpretation of mean, mode, median.............................................................................82.3 Stander deviation.............................................................................................................92.4 Correlation ,Quartile, percentiles and coefficient...........................................................10TASK – 3......................................................................................................................................113.1 Graphical presentation....................................................................................................113.2 Trend line describing and help to taking decision-making............................................133.3 Business presentation.....................................................................................................143.4 Business formal report....................................................................................................17TASK – 4.......................................................................................................................................184.1 Information system used in the decision........................................................................184.2 calculation of payback period.........................................................................................184.3 Different techniques of Capital budgeting.....................................................................21CONCLUSION .............................................................................................................................23REFERENCES..............................................................................................................................24
Illustration IndexIllustration 1: Critical Path.............................................................................................................22Illustration 2: Gantt Chart..............................................................................................................23
INTRODUCTIONBlackfriars Restaurant is one of the restaurant in UK. It is essential start the business tounderstand the market and help to decision. It has been observed that the most of business usingthe fact and figures in order to make the decision in the firm In this regard they used the tacticaltools and statical tool related to mean, mode, median, correlation, coefficient in the research. Inorder to understand practical application of these tools calculations are done and their results areinterpreted in order to measure the firm’s performance from different sides. In that report we arecollect the primary data is also collected by distributing questionnaire and their results are alsointerpreted. TASK 11.1 Plan and method for collection of dataThe researcher can collect the data through the primary method and secondary methodfor analysing the situation and demand of the restaurant in particular areas.Primary data- The researcher can use the collection of data and also gathering the datathrough the directly to the customer and original sources. It includes the resourceobservation, telephonic, mail, interview, survey, experiment, focus group etc.Observation – The researcher can collect the data through this process directly in interactwith the costumers and identifying the demand and need and perception of restaurant inthe country(Sutherland, 2010).Survey – In this method researcher can select the sample size it may be probable and nonprobable and they also used the questioner related to the situation and filling throughonline. They prepare the questioner related to open ended and close ended and that mayfill through the directly in the business. Secondary data- Researcher can collect the data through the articles, journals and alsoother result of collecting the data and this is the estimated data not a correct data for themaking decision in the business. It is less expensive and investigator is not personallyresponsible for the quality of data. Its disadvantages is related the not only to theavailability of sources in the business. This type of data investigator not decide what is1
the reason and situation for collection of data and it is the right and the data already nohassle for data collection. 1.2 Survey methodology and sampling method Survey methodology- Survey methodology is the study of sampling of in dividual andpopulation It is the construct that the time associated with the survey data collection it includethe method for improving the number and accuracy of the responded to the survey. Theresearcher can used this technique and also gather the information through question to the personResearcher can take advantage It is broader range collect the information and it produced theinformation related to attitude, opinion, motive etc. It is the usually cheaper rate and also reliableof data and also simple to administer in the situation. Sampling method – Sampling is the method and process of selecting the group of population inthis Black friars restaurant the researcher can select the 30 customer in conducting the survey.There are the two type of method used in the collect the sample in the research.Probability sampling - This is the method each population element has known and alsothe chance of being choose in the sample. Random sampling – It is the method for any sampling have chance to select and thepopulation consist the N object and if all possible sample are select the equally randomselection. There are many ways but lottery is better way to determined the theory andprospectus of the costumers. In this method researcher can select and assigned thenumber that are unique code of the person.Stratified sampling – In this method researcher can make the group based on thecharacteristic. Within each group have income, taste and same of the preference for thefood making by the Black friars restaurant can take the research and also conclude theresult. And this group also called strata(García- Peñalvo and Conde, 2014).Cluster sampling – In this method every member assigned a one group and group areselect by the probability method.Non probability method – It is the method that choose of the population element will beselect and not and each population element has no zero chance of being select or not.2
Voluntary sampling – It is the method that the people have selected and self select in theinterview and also conduct the research according to the interest in main topic of survey.Convenience sample - It is the sample the person are easy to reach and also confirm thebehaviour and it is easy to taken the result awareness of the result of sample. 1.3 Questioner related to Survey QuestionerName - Address -Mobile no.-Designation - Q1. What is the satisfaction level with Blackfriars Restaurant1.Completely satisfied2.Satisfied3.Normal 4.Dissatisfied5.Completely dissatisfiedQ. 2. How often do you eat at Blackfriars Restaurant1.Monthly2.Daily3.Weekly4.Once or twice a year5.QuarterlyQ.3. When you dine with us1.Business2.Pleasure3.Conference3
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