Business Decision-Making Report: Blackfriars Restaurant Expansion

This report analyzes the business decision-making process for the expansion of Blackfriars Restaurant, focusing on its potential entry into a new market. The report begins with an introduction to the importance of business decision-making for sustainable development, particularly in the context of the restaurant industry. It outlines the methodology, including the use of primary and secondary data sources, survey design, and sampling techniques. The report presents the results of a survey conducted to assess consumer preferences and opinions regarding the restaurant's expansion. It includes data analysis using representative values, measures of central tendency, and dispersion, along with the advantages of using quartiles, percentiles, and correlation coefficients. The report then moves on to graphical representations of the data, trend line analysis, and the presentation of a formal report. Furthermore, the report explores the implementation of information tools for effective decision-making, network diagrams, and various investment appraisal proposals. The conclusion summarizes the key findings and recommendations for Blackfriars Restaurant's expansion strategy.

Business Decision-
Making
Table of Contents

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Create a plan:.........................................................................................................................1
1.2 Survey methodology and sampling frame used:...................................................................2
1.3: Questionnaire designing:......................................................................................................3
TASK 2............................................................................................................................................5
2.1: Designing data with the help of representative values.........................................................5
2.2 Assessment of data which are gathered:...............................................................................7
2.3 Assessing measure of dispersion:..........................................................................................8
2.4: Advantages of using quartile, percentile and coefficient correlation...................................9
TASK 3..........................................................................................................................................10
3.1: Produce graphs...................................................................................................................10
3.2 Trend line............................................................................................................................14
3.3 Covered in PPT...................................................................................................................15
3.4: Presentation of formal report.............................................................................................16
TASK 4..........................................................................................................................................17
4.1: Implementation of information tools for making effective decision-making....................17
4.2 Network diagram:................................................................................................................18
4.3 Various investment appraisal proposal:..............................................................................19
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................21

INTRODUCTION
Business decision making is the tool which is used by the organisation in order to gain
the sustainable development. However, business decision making is the most effective tool that
are used by the organisation in order to get the core competencies. However, decision making
tool is the most efficient way to make an strategy in an efficient manner. Although, the
management accounting is the best effective tool that can be used by the Blackfriars Restaurant
so that they could make an efficient policies. This report is totally based on the Blackfriars
restaurant which is expanding its operations in an efficient manner. The main aim of this report
is to know about the market where the company is going to set up their expansion. The
researcher, with the help of this report, would get to know about the market where the firm can
expand their operations in an effective manner.
TASK 1
1.1 Create a plan:
The data is the most crucial tool which can be used by each organisation for making the
business viable and sustainable. However, there is a strong need together the relevant data so that
the business can be get the sustainable development. The data can be gathered by the researcher
for knowing the real situations of the market where the company is going to expand their market
effectively (Cosgrove and Rijsberman, 2014). The data is gathered via two way. Which is
primary and secondary method. But before going to use the data, company would get to know
the pros and cons of these sources for gathering the data. Now, there is a strong need to make a
planning which can be used by the organisation in order to gain the sustainable development.
These are elaborated in an effective manner:
Primary source of method: This is the primary method which is used for the first time.
The main tool is used by the organisation in order to gain the sustainability. The primary method
is much reliable and is used at the time when the data requirement is strictly close to the
requirements. But there are certain tools which can be used by the organisation in order to gain
the sustainability in an effective manner. Under this case, primary data is used by the
organisation in order to know about the central London where the blackfriars restaurant is going
to set up the business in an effective manner. The main drawback is of the primary source which
is used by the organisation in order to gather the business in an effective manner. The primary
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source method is much costly as this can only be used by the organisation in order to know the
market in an effective manner. Here, primary source of data collection method is used by the
organisation so that the business can attain the pre-set objectives and company could gain the
sustainable development (Kacprzyk and Fedrizzi, 2012). For gathering the data, company could
use questionnaire, observation, interview etc. now the restaurant needs to make plan so that the
organisation could attain their pre-set objectives in an effective manner.
Secondary sources: This is the secondary tool for collecting the data for making analysis
in an effective manner. However, there is a strong need to know about the business operations in
an effective manner. That is why the secondary data methodology is used by the restaurant. The
secondary data collection method is used when the data requirement is highly required. There are
various tools that can be used by the organisation in order to frame a particular strategy. The
secondary data source is the main tool that can be used by the organisation so that the business
objectives can be achieved. Secondary method is used for making the research easy and data
requirement is high. This data is the best tool which can be used by the organisation in order to
lower the business in an effective manner (Nooraie, 2012). There are various secondary tools
namely: Magazine, newspapers, television and any other tool. Under this report, various tools are
used by the organisation in order to gain the sustainable development.
1.2 Survey methodology and sampling frame used:
For making the proper research, there is a need to have the effective methodologies. This
is the best effective tool by which the solution can be used in order to gain the sustainability in
an effective manner. This is the way through which issues are solved in a systematic manner
which could emerge at the using of new branch. Some of them are:
Descriptive research strategy is used by the researcher in order to convene the survey and
organise research which intentionally to identify the facts which could render state of affairs as
this reflects in a research work (Saaty and Peniwati, 2013). On the other hand, analytical research
is the base of research practices which is totally different from the other kinds of research
practices. On the other hand, researcher is based on the basis of established data for making the
vital assessment of the material.
Exploratory research tool is the main tool which simply aim to research survey areas and
they could attempts to serving the offer final answers to a research questions.
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Quantitative and qualitative data tools: this is the research methodology which
completely assess the data which have been measured from the diverse consumers in an effective
manner. This is rightly said that that by measuring the diverse statistical tools (Crowfoot and
Wondolleck, 2012). On the other hand, diverse tools are concerned to the quality of research
done by the organisation.
Sampling Frameworks: For the aim of assessing positive results from a research
activities, this is totally crucial to collect the similar samples from the available group of
consumers. This is likewise divided into the diverse parts.
Random sampling: This is the highly efficient sampling tools that is implemented over a
selected number of people out of the total group (March, 2013). This is totally free from biase
tools which is assisted in any complex situations. There are various other sampling tools like-
Quota, stratified, cluster sampling method. As per this research tool, a total of 60 respondents
were chosen from the total population. There are some of the helpful aspects which contains the
research form. These are mentioned hereunder:
 Price which could easily afford
 Quality in service
 Hospitality delivering by their employees
1.3: Questionnaire designing:
Research over consumer experiences and its satisfaction related to inaugural of
Blackfriars Restaurant
QUESTIONNAIRE
Name:
Age:
Gender:
Occupation:
Q1: Do you believe that idea of inauguration of new branch of Blackfriars Restaurant is
precious idea?
(a) Yes
(b) No
Q2: Can setting up of a new outlet able to pull supreme attention of local customers ?
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(a) Yes
(b) No
(c) Can't say
Q3: Do you believe that the pricing policies of Blackfriars restaurant is high?
(a) High
(b) Low
(c) Moderate
Q4: What kind of food, do you like the most in Blackfriars restaurant?
(a) Italian
(b) Thai
(c) Chinese
(d) Other
Q5: Which is best thing in the cited restaurant that could attract the most?
(a) Surroundings
(b) Multiple-cuisine
(c) Hospitality
Q6: Does any brand-new facilities, do you want to be covered?
(a) Yes
(b) No
Q7: Does any quality of cuisine enhances the satisfaction of customers?
(a) Yes
(b) No
Q8: Do you believe that the blackfriars restaurant able to draws the attention of customers?
(a) Yes
(b) No
(c) Can't says
Q9: Which location would be more profitable for setting up of new restaurant?
(a) Country side
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(b) Shopping Mall
(c) Prime location
(d) Other
Q10: Feel free to render valuable feedbacks and reviews?
Ans.
TASK 2
2.1: Designing data with the help of representative values
Q1: Do you think that idea of opening new branch of Blackfriars restaurant is valuable idea?
Particular Respondent in %
(a): Yes 46
(b): No 14
Total 60
Mean 30
Median 30
Mode 0
Q2: Does this would be healthful for them to attract supreme attention of local customers ?
Particular Respondent in %
(a): Yes 35
(b): No 20
(c): Can't say 5
Total 60
Mean 12.5
Median 12.5
Mode 0
Q3: Do you believe that the pricing policies of Blackfriars restaurant is high?
Particular
Respondent in
%
5

(a): High 25
(b): Low 20
(c): Moderate 15
Total 60
Mean 17.5
Median 17.5
Mode 10
Q4: What kind of food, do you like the most in Blackfriars restaurant?
Particular Respondent in %
(a):
Surrounding 16
(b): Multi
cuisine 24
(c): Hospitality 20
Total 60
Mean 20
Median 20
Mode 18
Q5: Which is best thing in the cited restaurant that could attract the most?
Particular Respondent in
%
(a): Surrounding 16
(b): Multi cuisine 24
(c): Hospitality 20
Total 60
6

Mean 20
Median 20
Mode 18
Q6: Does any brand-new facilities, do you want to be covered?
Particular Respondent in %
(a):
Surrounding 16
(b): Multi
cuisine 24
(c): Hospitality 20
Total 60
Mean 19.33333333
Median 20
Mode 2
Q7: Does any quality of cuisine enhances the satisfaction of customers?
Particular Respondent in %
(a):
Surrounding 16
(b): Multi
cuisine 24
(c): Hospitality 19
Total 60
Mean 20
Median 19
Mode 0
Q8: Do you believe that the blackfriars restaurant able to draws the attention of customers?
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Particular Respondent in %
(a): Yes 30
(b): No 19
(c): Can't say 11
Total 60
Mean 20
Median 19
Mode 8
Q9: Which location would be more profitable for setting up of new restaurant?
Particular Respondent in %
(a): Yes 32
(b): No 12
(c): Can't say 16
Total 60
Mean 20
Median 16
Mode 0
2.2 Assessment of data which are gathered:
For assessing the emergence in an effective manner, researcher which will come to form
assessment of Blackfriars Restaurant last year sales and incomes which could be assessed by
implementing calculation of central tendency which is a most effective technique which could
demonstrate in a most effective time. For this aim, data has been considered on the hypothetical
basis in order to evaluate their success factor in the new location in London.
Year Sales Net
Profit
2008 2659 797.7
2009 3057.85 917.355
2010 3516.5275 1054.958
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2011 4044.0066 1213.202
2012 4650.6076 1395.182
2013 5348.1988 1604.46
2014 6150.4286 1845.129
2015 7072.9929 2121.898
2016 8133.9418 2440.183
2017 9354.0331 2806.21
Sales Net Profits
Mean 5398.75868 1619.627604
Median 4999.403191499.820957
Mode 2659 797.7
Mean: This is the average set of data which is used by the organisation in order to assess the
results in an effective manner. Basically, this can be said that the company can use their business
organisation in an efficient manner (Shapiro and Stefkovich, 2016). This the average number out
of data set of observation that can be used by the organisation in an effective manner. Here,
mean of the sales and net profits are: 5398.75868 and 1619.627604.
Median: This is the middle number of data out of the set of observation. Median is the most
effective tool that can be used by the organisation in order to gain the sustainability in an
efficient manner. Here, 4999.40319 and 1499.820957 (Mean, Median, Mode and Range.,2017).
Mode: This is the most repetitive number which can be used by the organisation in an effective
manner. Here, the mode for the sales and net profits are: 2659 and 797.7
2.3 Assessing measure of dispersion:
Year Sales Net Profit
2008 2659 797.7
2009 3057.85 917.355
2010 3516.5275 1054.95825
2011 4044.0066 1213.20199
2012 4650.6076 1395.18229
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2013 5348.1988 1604.45963
2014 6150.4286 1845.12857
2015 7072.9929 2121.89786
2016 8133.9418 2440.18254
2017 9354.0331 2806.20992
Standard deviation 2246.48007673.9440224
Maximum range 2583.45209 775.0356258
Minimum range 2659 797.7
Range: It is calculated as difference of upper and lower limits of a specific data having
large number of observations of same kind. It shows variations in perceptions of people. As
shown in this illustration, the maximum range of sales and net profit is 2583.45209 and 775.03.
whereas minimum range for the selected observations is 2659 and 797.7 respectively.
Standard deviation: It is termed as total quantity of data which is calculated by
evaluating square root of variance. Variance is an average of squared difference of mean. In this,
mean is taken as average of numbers given in a data (Xu, 2015). In short, standard deviation is a
measure of dispersion calculated from mean. As per the mentioned information about total sales
they having total sales 2246.48 and from net profit they are getting deviation of 673.94.
Standard deviation: √Variance or √∑Fdx2/N – (∑Fdx/N)2
Variance: S2 = ∑(X – X )2 / N
2.4: Advantages of using quartile, percentile and coefficient correlation
Quartile: It is a simple method used to calculate total deviations in a specific data.
Quartiles divide a data into four quarters i.e. Q1, Q2, Q3 and Q4. Here Q1 is taken as lowest of
25% of data while Q2 divides the same in two equal parts which is also known as median. Along
with this, Q3 is taken 75% of data and Q4 as whole so called mean also. Therefore, in order to
calculates quartiles of a quantitative data, only Q1(Lowest quartile) and Q3 (Highest quartile) are
needs to taken out.
Percentile: Percentile divides a numerical data into nth terms which generalise the
quartile and spits observations into many pieces. Percentiles are commonly used to report scores
in test like LSAT, SAT and GRE.
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Correlation coefficient: It measures the strengths of relationship between two variables
which is commonly used in linear regression. Value of correlation coefficient generally lies
between -1 to +1 and denoted by rxy. If coefficient between variable is -1 then it shows strong
negative relationship while +1 indicates high positive relationship. While zero values shows that
there is no relationship (Tzeng and Huang, 2011). Generally correlation is measured to evaluate
whether variables in a data are dependent on each other or independent.
TASK 3
3.1: Produce graphs
Q1: Do you believe that idea of inauguration of new branch of Blackfriars Restaurant is precious
idea?
46
14
0
5
10
15
20
25
30
35
40
45
50
(a): Yes (b): No
Respondent in %
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Q2: Does this would be healthful for them to attract supreme attention of local customers ?
35
20
5
0
5
10
15
20
25
30
35
40
Respondent in %
Chart Title
(a): Yes (b): No (c): Can't say
Q3: Do you believe that the pricing policies of Blackfriars restaurant is high?
25
20
15
Respondent in %
(a): High
(b): Low
(c): Moderate
12

Q5: Which is best thing in the cited restaurant that could attract the most?
16
24
20
(a): Surrounding (b): Multi cuisine (c): Hospitality
Respondent in %
Q6: Does any brand-new facilities, do you want to be covered?
16
24
20
0 5 10 15 20 25 30
(a): Surrounding
(b): Multi cuisine
(c): Hospitality
Chart Title
13

Q7: Does any quality of cuisine enhances the satisfaction of customers?
Q8: Do you believe that the blackfriars restaurant able to draws the attention of customers?
30
19
11
0 5 10 15 20 25 30 35
(a): Yes
(b): No
(c): Can't say
Chart Title
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Q9: Which location would be more profitable for setting up of new restaurant?
Chart Title
(a): Yes
(b): No
(c): Can't say
3.2 Trend line
This is a trend line which implicate the normal course of assessing something. These are
implemented to reflects the visual representation of support and time frame resistance emerged
by variables. This likewise renders the major information about direct and speed of price which
accounts pattern at the time of price friction.
2017 9354.033 2806.21
2018 11692.54 3367.452
2019 14615.68 4040.942
2020 18269.6 4849.131
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9354.0331
11692.54138
14615.67672
18269.5959
2806.20992 3367.451904 4040.942285 4849.130742
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
2017 2018 2019 2020
Chart Title
Series1 Series2 Linear (Series1) Linear (Series2)
From the above cited trend line, this can be said that the in 2018, 2019 and 2020, the
sales of the cited restaurant is increased to 25%. While on the other hand, net profits is forecasted
to increase 20% constantly in the next forthcoming years.
3.3 Covered in PPT
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3.4: Presentation of formal report
To,
The Restaurant Manager
Blackfriars Restaurant
Date: 11st April 2018
Subject: “A well constructed research regarding customer reaction and their feedback
about opening of new restaurant chain in London marketplace”.
Introduction:
According to this particular report, researchers has evaluated particular results by
gathering different perception about their reviews and reaction towards opening of new
restaurant in various locations of London market. In accordance to this, certain data collection
sources is being used as primary sources which will be uses as secondary sources.
Methodologies:
In respect to this, a research cannot be completed without using appropriate method
which are use as more reliable results for restaurant (Pourshahid, Richards and Amyot, 2011.
Few of them are descriptive and qualitative approaches which is more useful to generate more
reliable outcomes in very short span of time.
Findings:
From the above the research practice that has been collected from 60 respondents which
selected during the survey. There are various number of customers those are thinking that it
would make easy for them to save their time and costs which they are paying to other same
restaurant that is located in other places. Some of them are satisfied with booking facilities of
offline and online of orders.
Recommendation:
In order to get more positive feedback they have to determine certain limitation those
are determine under the research (Sinha and Labi, 2011). By providing certain entertainment
facilities needed to implement into the restaurant to draw maximum attention of people.
Conclusion:
From the above research analysis, it has been found that proper idea setting of new
restaurant chain are mostly acceptable by people of London.
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TASK 4
4.1: Implementation of information tools for making effective decision-making
In every business organisation, they need to make effective decision which is necessary
to make proper analysis of overall performance of restaurant in order to increase growth
opportunities (Sethi and Zhang, 2012). There are certain tools those are used for the purpose of
making proper decision-making. Some of them are discuss underneath:
 Management information system(MIS): It is an essential tool which is helpful in data
processing of data in respect to analyse their operational level impacts. This will assist in
setting appropriate standard for lower departments to increase their performance in more
reliable manner.
 Transactional processing system(TPS): This would be done to determine certain
transactions which are being done on an regular basis. It is more simple and reliable
decision-making system which is useful in respect to generate more effective data to
tactical stages of an organisation.
 Decision support system (DSS): This seems to be more appropriate planning systems
which is done by upper level of management. The primary role of them to make effective
use of programs and policies that can benefits them in longer period of time (Rothman,
2017). The overall decision-making should be relying on performance of organisation in
order to increase profitability as well as future efficiency of the restaurant.
These are the various software which are used by the organisation for gaining the
sustainability in an effective manner. these are specially assist the management for completing
their work in an effective manner. the above mentioned systems are used for attaining the
business objectives in an advance manner. By using these abovementioned system, cited
restaurant can smoothly run their operations and also able to gain sustainable development by
optimising sales.
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4.2 Network diagram:
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By citing the above mentioned network diagram, various critical path has been drawn such as:
 Path A: 1
 Path B: 2,8= 10
 Path c: 5,9= 14
 Path d: 6, 10= 16
4.3 Various investment appraisal proposal:
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By using the above mentioned tool, this is rightly said that the the project reflecting the
negative net present value which simply means that the project does not represent the viability.
Which simply mean that the project should not be accepted.
CONCLUSION
From the above mentioned report, this can be said that the Blackfriars restaurant can
expand their operations in central London as, there is a good opportunity for the firm in order to
enhance their proficiency in an effective manner. Various planning tools are used for gathering
the data for making the decision effectively. Various survey methodologies are also used under
this. Questionnaire is made and interpreted in this report. Apart form that, the cited organisation
requires to adopt various things which could be used by the restaurant in order to gain the
sustainability.
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