Black Friars Restaurant: Decision Making and Business Analysis Report

This report provides a comprehensive analysis of Black Friars Restaurant's business decision-making process, focusing on its potential expansion into London. The report begins with an introduction to decision-making and the restaurant's business activities, followed by an examination of primary and secondary data collection methods, including survey methodologies and questionnaire design. The analysis includes an evaluation of survey results, utilizing methods of dispersion, quartiles, percentiles, and correlation coefficients to draw conclusions about customer preferences and financial performance. Furthermore, the report incorporates information processing tools and investment appraisal techniques to enhance decision-making, supported by graphical representations and financial data analysis to support strategic recommendations. The analysis of the data and the report's conclusions are aimed at informing the restaurant's expansion plans and business strategies.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 creation of plan .....................................................................................................................1
1.2 Survey methodology and sample framing used....................................................................2
1.3 Questionnaire........................................................................................................................2
TASK 2............................................................................................................................................4
2.1 Analysis of information ........................................................................................................4
2.2 Evaluation of the results........................................................................................................7
2.3 Analysis of information by use of methods of dispersion.....................................................8
2.4 Use of quartiles, percentiles and correlation coefficient.......................................................9
TASK 3............................................................................................................................................9
3.1 Presentation of graph to provide information.......................................................................9
3.2 Trend line............................................................................................................................15
3.3 Covered in PPT...................................................................................................................16
3.4 Formal business report........................................................................................................16
TASK 4..........................................................................................................................................17
4.1 Information processing tools...............................................................................................17
4.2 Analysis of critical path .....................................................................................................18
4.4 Financial tools in decision-making.....................................................................................19
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
Decision-making is important process of selection of best alternative from the large
number of choices. Similarly, business decision-making includes the adoption of most profitable
project with the help of analysis of investment appraisal tools like NPV and IRR. Both these
tools contributes in determination of maximum return which organisation gets from their various
investments. Black friars restaurant provides their services in England having diversifies
business activities like Banquet hall for wedding ceremonies, wine and beer tasting challenges,
vegetarian, vegan and gluten free dishes (Aharoni, Tihanyi and Connelly, 2011).
In the present report explain about, use of primary and secondary sources in creation of
plan, sample framing and survey methodologies, preparation of questionnaire, evaluation of
information by use of methods of dispersion, contribution of quartile, percentiles and correlation
coefficient to draw important conclusions. Also, use of information processing tools and
investment appraisal techniques to enhance their decision-making.
TASK 1
1.1 creation of plan
Black friars restaurant is one of the best restaurant which provides their services in
England. The main aim of management is to open as new branch in London. For, this purpose,
they requires the viewpoints and feedback of customers about their services, food items, viability
of their move. To attain such views two methods are used by researcher, primary and secondary
source of data collection. Such research also helps to know about the factors which are present in
business environment and the tastes of consumers present in London. This will enhance their
decision making power to prepare appropriate strategies.

Primary source: It is most important method to collect real and first-hand information
from respondents. It is considered as much correct information which helps to know the
preferences and tastes of customers which helps to ascertain the overview of real situation
prevail in London.
 Questionnaire: It is an instrument contains series of questions regarding research
purpose and topics.
 Survey: This includes face to face interaction with respondents to gather their feedbacks.
This also includes several questions but involves personal meetings with respondents.
 Online: This includes use of digital technology and social media to ascertain their view.
It is fast and cost efficient in nature.
Secondary source: Information collect from this source is second hand data which
already published in newspapers and magazines. Such data is based on past performance of
Black friars restaurant does not helps to ascertain view of public.
1.2 Survey methodology and sample framing used
The main aim of Black friars restaurant is to research about market and collection
information from respondents in less period of time. For this purpose, required to select best
method to select respondents from population and use of best survey methodologies which helps
to ascertain correct information (Ferrell and Fraedrich, 2015).
Survey methodology: This includes about selection of best method survey which
provides optimum results. The management of Black friars restaurant decided to conduct
research by use of primary source of data collection method. To make it more effective,
researcher prepare questionnaire which includes important questions regarding their objectives.
To enhance their decision making, 10 questions are made which covers different aspects of
research.
Sample framework: This includes the method which is used by researcher to select
respondents. Different methods are available like cluster, stratifies, random etc. Researcher of
Black friars restaurant decided to use random sampling method. By use of such method 40
respondents are select from total population from which different questions are asked which are
included in questionnaire. The main topic which is covered under questionnaire are:
 Viability of move to open new branch in London
 Quality of their existing services and food items

 strengths and weaknesses of current business performances
1.3 Questionnaire
Questionnaire: It is considered as document involves important questions. Questionnaire
have many advantages over survey methods like saving time, collect standardized information
etc. This helps to ascertain preference, behaviours, facts etc.
Questionnaire
Name:
Age:
Gender:
Q1. Is it viable for Black friars restaurant to open new branch in London?
 Yes
 No
Q2. Do you satisfy with the existing services of Black friars restaurant?
 Highly satisfied
 Satisfactory
 Not satisfied
Q3. What kind of dish you like most in Black friars restaurant?
 Vegetarian
 Non vegetarian
Q4. Do you think that Black friars restaurant has enough financial sources to start new branch?
 Yes
 No
Q5. Are you satisfied with the quality of food items of Black friars restaurant?
 Satisfied
 Not satisfied
Q6. Are you satisfied with the quality of banquette hall of Black friars?
 Yes
 No
Q7. Do you think customers of London accepts the new project of Black friars restaurant?
 Agree

 Disagree
Q8. Do you think diversified business activities helps to establish their market in new city?
 Yes
 No
 Cant say
Q9. Are you satisfied with the prices charged by Black friars restaurant for their services and
food products?
 Satisfied
 Not satisfied
 No comments
Q10. What you want to recommend Black friars restaurant?
TASK 2
2.1 Analysis of information
Q1. Is it viable for Black friars restaurant to open new branch in London?
Particulars Respondent
Yes 30
No 10
Total 40
Mean 20
Median 20
Mode 0
Q2. Do you satisfy with the existing services of Black friars restaurant?
Particulars Respondent

Highly
satisfied 25
Satisfactory 10
Not satisfied 5
Total 40
Mean
13.3333333
333
Median 10
Mode 0
Q3. What kind of dish you like most in Black friars restaurant?
Particulars Respondent
Vegetarian 15
Non
vegetarian 25
Total 40
Mean 20
Median 20
Mode 15
Q4. Do you think that Black friars restaurant has enough financial sources to start new branch?
Particulars Respondent
Yes 35
No 5
Total 40
Mean 20
Median 20
Mode 0
Q5. Are you satisfied with the quality of food items of Black friars restaurant?

Particulars Respondent
Satisfied 28
Not satisfied 12
Total 40
Mean 20
Median 20
Mode 4
Q6. Are you satisfied with the quality of banquette hall of Black friars?
Particulars Respondent
Yes 22
No 18
Total 40
Mean 20
Median 20
Mode 4
Q7. Do you think customers of London accepts the new project of Black friars restaurant?
Particulars Respondent
Agree 26
Disagree 14

Total 40
Mean 20
Median 20
Mode 12
Q8. Do you think diversified business activities helps to establish their market in new city?
Particulars Respondent
Yes 21
No 10
Cant say 9
Total 40
Mean
13.3333333
333
Median 10
Mode 1
Q9. Are you satisfied with the prices charged by Black friars restaurant for their services and
food products?
Particulars Respondent
Satisfied 18
Not satisfied 15
No
comments 7
Total 40
Mean
13.3333333
333
Median 15

Mode 3
2.2 Evaluation of the results
Year Sales Net Profit
2009 4850 1385
2010 5250 1450
2011 5740 1710
2012 5050 1795
2013 6350 1810
2014 6640 1845
2015 6730 1935
2016 6840 1996
2017 7120 2200
particular sales Net profit
Mean 6063.3333333333 1791.7777777778
Median 6350 1810
Mode 4850 1385
Mean: It is considered as the average of the quantities which are present in a series. Such
average helps in interpretation of the past information in precise form and enhance their decision
making by drawing important conclusions (Ford and Richardson, 2013). The formula of
calculation of mean is to divide the sum of all quantities which are present in series of sales and
net profit with the number of years. Such average amount helps the management of Black friars

restaurant to ascertain their financial position. The mean of sales is 6063.3333333333 and for net
profit it is 1791.7777777778.
Median: It is called as the middle value of data present in series. Management of Black
friars restaurant calculate median of previous year sales and net profit to enhance their decision
making power and takes right decision regarding opening of new restaurant in London. The
median for sales is 6350 and for net profit is 1810.
Mode: Such figure of series is called mode which present most frequent time in a given
series. Similarly, mode is calculated from the previous data of sales and net profit of Black friars
restaurant. The mode of sales calculated as 4850 and net profit as 1385.
2.3 Analysis of information by use of methods of dispersion
Year Sales Net Profit
2009 4850 1385
2010 5250 1450
2011 5740 1710
2012 5050 1795
2013 6350 1810
2014 6640 1845
2015 6730 1935
2016 6840 1996
2017 7120 2200
Particular Sales Net profit
Minimum 4850 1385
Maximum 7120 2200
Standard deviation 854.6929273137 255.1978535263
Correlation coefficient 0.8688484875

Range: The two type of range are compared with each other to interpret important
conclusions regarding the series. For this purpose, Black frier's restaurant identify the minimum
and maximum range of sales and net profit to compare with each other (Gigerenzer and
Gaissmaier, 2011). Such comparison provides important information which is further used to
make future strategies and policies which helps to expand their business activities in effective
manner. The minimum range of sales and net profit is calculated as 4850 and 1385. On other
hand, maximum range of sales and net profit is 7120 and 2200.
Standard deviation: It is effective method which is used by the management of black
friars restaurant to identify the risks which are associated with their activities. It helps to
ascertain profitability of the business activities of restaurant which are provide by them in
market. The standard deviation of sales is 854.6929273137 and for net profit is 255.1978535263.
2.4 Use of quartiles, percentiles and correlation coefficient
All three methods are used by the researcher of Black Friars restaurant to convert
information in important conclusions which helps to take their decisions right. All three methods
helps to understand the current situation of their restaurant in market and viability of their move
to start new branch in London.
Quartiles: Generally these are of three types which is used to divide the business into
three different segments. Such quartiles are named as upper, lower and interquartile. Upper
quartile has the limit of 75%. Lower quartile has the limit of 25% and interquartile has the limit
of 50%. If the results fall into the limit of upper to lower quartile then decisions have optimum
results (Groebner and et. al., 2011).
Percentiles: This method used to present the results in form of percentage which are
derived from different series. A result is called optimum if the valve comes up to 100 %. It helps
to compare data in more easy manner.
Correlation coefficient: This shows the relation between two variables which are used to
draw important informations. The results would be called optimum if they comes between the
limit of 1 to -1. If the result goes beyond such limit then it would be seen as negative.
TASK 3
3.1 Presentation of graph to provide information
Q1. Is it viable for Black friars restaurant to Frequency