(solved) Business Decision Making Report
Added on 2019-12-28
18 Pages4324 Words203 Views
BUSINESS DECISION MAKING
INTRODUCTIONBusiness decision making help to the organization to take identical decision for achieving thesuccess in long run. This report provide facts and figures by applying various methods andtechniques and also various charts, graphs etc. so that they achieve the profits in long run. Thisreport help them to expand their business and develop their product.TASK 11.1 Creating data collection planningData collection is an essential tool for the business development of every organizations.In present scenario, entities applied two methods for collecting the data such as, primary datacollection and secondary data collection. Primary data collection refers those data which are tobe collected first time through various surveys, questionnaires, focus groups etc. these datacollection are not more appropriate but major helpful for taking decisions in the organization. InUK, tour operators uses this form for collecting the data by majorly using the questionnaires.They collect these data from public or from the area where they want to operate their business.Questionnaire is all bout the taste, preferences, attitude and buying behavior of the customers.Moreover, through this organization place their decision whether about expanding the businessor selecting the projects. The second source for collecting the data is secondary data collection. This data is to becollected from the articles, newspapers, travel magazines, other organization data etc. Thesecondary data collection is more appropriate as per the primary data collection. It is mosthelpful for running the organization or taking decisions for their expansion. Here, UK's touroperator uses this method for data collection mostly through the other organizational data andtravel magazines. By these sources they collect the data of the peoples preferences and wants orneeds of the services of the customers by tour operator. By applying these data travel agentsatisfy the needs of the customers and increases their profits in long run. 1.2 Surveys methodologies along with the sampling frame and strategiesVarious surveys methodologies and sampling methods are to be used for making thestrategies in the organizations. Surveys methodologies refers that the methods which are to beused at the time of surveys for getting more appropriate and efficient data to enhance thebusiness. These are as mail survey, telephone surveys, personal interviews survey and the
surveys through which identify the taste and preferences of the peoples. Tour operator of UKmainly uses the personal interview surveys and the telephonic surveys through which it canidentify the requirement of the people in the traveling. By this it can satisfy the needs of thecustomers and enhance their business. This helps to the tour operator to enhance their profits andalso the goodwill so that their business can run in long run with profitably. There are various sampling methods which help to the tour operator for getting the dataso that it can enhance their business and make it more profitable such as, random sampling,convenience sampling, judgment sampling and snowball sampling. Random sampling helps toget data by probability, which means to collect the data as each people has an equal chances forbeing selected. This is more helpful sampling for the tour operator because of this it can identifythe requirement of the people about the prices, hotels and foods etc. Next sampling techniques isconvenience sampling, it denotes that the sampling in fewer expenditures. Tour operator does notwant to spend more amount of money in research work. This type of sampling provides themappropriate sampling in less amount of money. Moreover, judgment sampling is a simple nonprobabilistic sampling and as per these sampling the researcher would select their data moreconveniently. These sampling is the higher version of convenience sampling. Last samplingtechnique which is use by the tour operator of UK is snowball sampling. This method ofsampling for collecting the data is difficult but these techniques provides more effective andefficient data to the tour operators to run their entities more comfortable profitable. 1.3 Questionnaire for the surveysName______ 1. In which category of age you belong?(a) 20-30(b) 30-40(c) 40-50(d) above 502. What is your gender?(a) male(b) female(c) transgender3. What type of cuisine you love the most?(a) Mexican(b) Italian(c) Chinese
(d) Continental food 4. Places you want to visit the most?(a) Sidney(b) London (c) New York (d) New Jersey5. Hotels where you like stay?(a) 5 star(b) 3 star(c) 2star(d) Standard group6. How often you plan for the traveling in a year?(a) once in a year(b) twice in a year(c) monthly in a year(d) no plan7. In which month you prefer for traveling?(a) December(b) November(c) January(d) May8. How will you rank our services in these scale?(a) 1- poor(b) 2-normal(c) 3-good(d) 4-very good(e) 5- excellent9. Do you want to travel nationally or internationally?(a) nationally(b) internationally10. What length you required generally for a trip?(a) 3 days(b) 7 days(c) 12 days(d) month11. The area through which you arrive for traveling?(a) Air(b) Bus(c) Train (d) Motorcycle(e) Car12. Please suggest us your opinion?
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