Blackfriars Restaurant: Business Decision Making Analysis Report

This report examines the business decision-making processes employed by Blackfriars Restaurant. It begins by outlining plans for collecting primary and secondary data, crucial for understanding customer preferences and market trends. The report details the survey methodology, including the use of online surveys, questionnaires, and personal interviews, along with a description of the sampling frame used. A sample questionnaire is presented, designed to gather customer feedback on the restaurant's products, services, and potential new locations. The analysis then delves into data representation using representative values like mean, median, and mode, alongside an evaluation of sales and profit data from previous years. Measures of dispersion, such as range and standard deviation, are calculated to assess data variability and risk. The report concludes with a discussion on the advantages of using quartiles, percentiles, and the correlation coefficient in business analysis, providing a comprehensive overview of the restaurant's decision-making strategies and data analysis techniques.

Business Decision
Making

INTRODUCTION
The principle goal of association is to achieve accomplishment through provision of their
distinctive capacities. It is the commitment upon administration is to take viable choices which
gets viability their activities. Basic leadership is the procedure which helps in determination of
the best option out of numerous choices. NPS and IRR are primary procedures which
comprehends about the most beneficial undertaking. Additionally there are numerous factual
devices like mean, middle and mode which reaches vital determinations from gathered data.
Through this extensive number of advantages are accumulated by association like upper hand,
higher piece of the overall industry, expansive number of benefits, construct great brand picture
and so forth. Blackfriars Restaurant is eatery which gives broadens cooking in London
(Rothman, 2017).
In the present report clarify about, use of essential and optional wellsprings of information
accumulation, outlining of test system and research strategies, definition of survey, reach
imperative inferences through use of factual instruments and measures of scattering. Likewise,
introduction of diagrams to draw critical data, production of pattern lines for future expectations
and utilization of data preparing and money related instruments for basic leadership.
TASK 1
1.1 Creating a plan for collecting primary and secondary data
Primary and secondary data is helpful in order to analyse the things better and effective in
frame. Every study have certain aspects and attribute which enable in accomplishing the things
properly and in better manner. Blackfriars restaurant includes about original and alternative
source of content so that better and suitable understanding could be promoted. Primary data: It is a kind of information whose surface is raw in nature. Business require
to understand the things which get gather from questionnaire or personal interaction. This
will result in providing beneficial and suitable determination of result.
 Secondary data: These data belong to books, journals, article gathering from where
better and suitable understanding get promoted. In management terms of Blackfriars, this
get done through analysing various aspects and consideration in better frame by their
financial reports.
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1.2 Survey methodology and sampling frame used
Study is a activity which enable and facilitate to gather data from various sources in order
to evaluate effective and better outcome. Surveys analysis is effective and appropriate in frame
so that chances of positive and supportive responses could be enhance and promote better.
Blackfriars restaurant determine various sources of survey which are define as follow:
 Survey Monkey: This is a kind of survey process which get done through online attribute.
This basically opt by large firms due to have vast area base which assist them in deriving
beneficial and suitable result in frame.
 Questionnaire: Another approach is questionnaire in which various questions get asked
from an individual. This will assist in drawing appropriate conclusion on the basis of
personal response so that effective and suitable gain could be assist.
 Personal interview: Another kind or time consuming method of survey is personal
interview. This process take more time and hard to analyse as well.
One of a best approach to gather information is questionnaire which enable and support in
analysing fact depends on large individuals. But for this process, there is a need to
understand sampling frame as well so that better and supportive results could be drawn. The
sampling frame which supposed to utilise on this attribute is random sampling where all
customers selected on random basis and do not have any kind of interference with another.
1.3 Design a questionnaire
This questionnaire is based on Blackfriars restaurant whom want to analyse individual
response for opening of their new restaurant. This includes 10 questions set which organise
through random sampling method for analysing better fact.
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QUESTIONNAIRE
Name:
Age:
Gender:
Email:
Phone Number:
Q1. Do you like products and services of Blackfriars restaurant?
a) Agree
b) Neutral
c) Disagree
Q2. Does products and services fulfil needs and wants of each and every individual?
a) Yes
b) No
Q3. How often you visit to restaurant in a month?
a) Twice
b) Once
c) Rarely
Q4. Are the products range and quality met with suitable standard?
a) Yes
b) No
Q5. Do you have any kind of concern with beverages quality standard?
a) Yes
b) No
Q6. Does any deviation stated related with staff working?
a) Agree
b) Strongly Disagree
Q7. Categories services?
a) Five star
b) Three star
c) Average
Q8. Do you refer this to some other individual?
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a) Yes
b) No
Q9. Which location is convenient for Blackfriars new chain?
a) Near to sea side
b) Rooftop
Q10. Any further and appropriate suggestion...
TASK 2
2.1: Designing data with the help of representative values
Q1. Do you like products and services of Blackfriars restaurant?
Particulars
No. of
respondents
a) Agree 26
b) Neutral 15
c) Disagree 9
Total 50
Mean
16.6666666
667
Median 15
Mode 8
Q2. Does products and services fulfil needs and wants of each and every individual?
Particulars
No. of
respondents
a) Yes 30
b) No 20
Total 50
Mean 25
Median 25
Mode 10
Q3. How often you visit to restaurant in a month?
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Particulars
No. of
respondents
a) Twice 15
b) Once 25
c) Rarely 10
Total 50
Mean 20
Median 20
Mode 5
Q4. Are the products range and quality met with suitable standard?
Particulars
No. of
respondents
a) Yes 35
b) No 15
Total 50
Mean 25
Median 25
Mode 5
Q5. Do you have any kind of concern with beverages quality standard?
Particulars
No. of
respondents
a) Yes 28
b) No 22
Total 50
Mean 25
Median 25
Mode 6
a) Twice 15
b) Once 25
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c) Rarely 10
Q6. Does any deviation stated related with staff working?
Particulars
No. of
respondents
a) Agree 29
b) Strongly
Disagree 21
Total 50
Mean 25
Median 25
Mode 8
Q7. Categories services?
Particulars
No. of
respondents
a) Five star 12
b) Three star 25
c) Average 13
Total 50
Mean 18.5
Median 18.5
Mode 12
Q8. Do you refer this to some other individual?
Particulars
No. of
respondents
a) Yes 32
b) No 18
Total 50
Mean 25
Median 25
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Mode 14
Q9. Which location is convenient for Blackfriars new chain?
Particulars
No. of
respondents
a) Near to
sea side 18
b) Rooftop 32
Total 50
Mean 25
Median 25
Mode 18
2.2: Evaluation of data those are collected from research
Year Sales Net Profit
2008 2480 950
2009 2500 1100
2010 2520 1200
2011 2620 1350
2012 2670 1560
2013 3100 1630
2014 3400 1720
2015 3600 1880
2016 3820 2200
2017 4150 2460
Mean 3086 1605
Median 2885 1605
Mode 0 0
Mean: This method is useful to attain the average value from the given series. The
formula which is used to gather information is sum of all the values which are present in a series
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and divided by the total number of values. In the present report, this method is used by the
manager of Black friars to ascertain the average amount of sales and net profit from the figures
of past year to gain important information and improvement of the knowledge. In the present
report, mean of the sales and net profit is ascertained by Black Friars restaurant as 3086 and
1605.
Median: It is refers as the middle value of the series. It can be calculated differently if the
number which are present in series and in even or odd form (Rothman, 2017). To calculate the
median from the given series need to arrange the data is ascending order. In the present report
this method issued by the manager of Black friar’s restaurant for the purpose of diving the lower
and upper of half of sales and net profit. The medina of sales and net profit is 2885 and 1605.
Mode: It refers as the value which occurs most in the series. The main role of this method
behind its use by the manager to find out the value which occurs most in the given series of sales
and net profit. It will enhance the decision making of management is to make good decisions
which contributes in the success of organization.
2.3: Analysing measure of dispersion
Year Sales Net Profit
2008 2480 950
2009 2500 1100
2010 2520 1200
2011 2620 1350
2012 2670 1560
2013 3100 1630
2014 3400 1720
2015 3600 1880
2016 3820 2200
2017 4150 2460
Minimum 2480 950
Maximum 4150 2460
Standard
deviation 619.5913 481.8541
Correlation 0.96164
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coefficient
Range: It is effective method which enhances the decision making of management
through assess the minimum and maximum figures from the given series which contributes to get
maximum results. In the present report, management of Blackfriars restaurant used this method
to assess the minimum and maximum value of sales and profit and identification of the issues
which are behind the in gathering of such data. The minimum value of sales and net profit is
2480 and 950. The maximum value of sales and net profit is 4150 and 2460.
Standard deviation: This method is used by the manager of Blackfriars restaurant to
assess the amount of risk which is associated with their project of opening of new branch in
London (Sethi and Zhang, 2012). It enhances their decision making power and helps to make the
strategies and plans which reduce such future risks and makes the project more secure and
sustainable. The standard deviation of sales and net profit is 619.5913 and 481.8541.
2.4: Advantages of using quartile, percentile and coefficient correlation
Quartile: It is said to type of quantile. It is categories into Q1 which is considered as
middle number among smallest one and median of the given data. The Q2 is median of the data,
while Q3 is the middle value among median and highest value of the data series.
Advantage:
 It is basically use in accordance with the open-end distribution.
 It cannot be affected through the presence of extreme values.
Percentile: It is said to be the measurement and use of statistic indication of the value those
are mentioned in percentage of observation in any set of data. Like for example, 50th percentile is
the value below which 50% of the opinion can be determine.
Advantage:
It used to provide specific combination of probability that is more conservative than the form
of short term data. It allows business some kind of flexibility to make use of higher percentile on
a case by case basis.
Correlation coefficient: It refers to an effective tools and techniques which is been used to
measure the relationship among two or more variable. It can indicate the presence or absence of
relations of the variables.
Advantage:
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This method can be used for ranking purpose, like for example in case company is having
two projects and manager wants to determine which one is the best. At that time, this method can
be more useful to analyse the relationships between those two projects.
TASK 3
3.1: Different charts and graphs
Q1. Do you like products and services of
Blackfriars restaurant?
Frequency
a) Agree 26
b) Neutral 15
c) Disagree 9
Q2. Does products and services fulfil needs
and wants of each and every individual?
Frequency
a) Yes 30
b) No 20
10
a) Agree b) Neutral c) Disagree
0
5
10
15
20
25
30
26
15
9
Column B