Business Decision Making Report: Food for Friends Case Study

This report examines business decision-making processes for the "Food for Friends" restaurant, focusing on data collection through primary and secondary sources. It details survey methodologies, questionnaire design, and data analysis techniques, including measures of dispersion, standard deviation, and correlation coefficients. The report utilizes graphs, charts, and trend lines to present findings effectively, culminating in a business presentation and formal business report. Furthermore, it explores the use of information processing tools, a project management plan with a critical path, and financial tools to support effective decision-making. The analysis provides insights into customer perspectives, product and service evaluations, and staff performance, offering recommendations for strategic improvements such as pricing strategies, staff training, and product diversification to enhance customer experience and drive business growth.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Creation of plan for collecting data through primary and secondary sources.......................1
1.2 Survey methodology and sample framing used for research................................................2
1.3 Designing a questionnaire ...................................................................................................3
2.1 Creation of information on the basis of suitable responses of respondents..........................4
2.2 Suitable calculation on the basis of data .........................................................................5
2.3 Analysis of data by using measure of dispersion and standard deviation .........................6
2.4 Use of quartile and correlation coefficient in judgement......................................................7
TASK 2............................................................................................................................................9
3.1 Use of graphs and charts for effective findings....................................................................9
3.2 Creation of trend lines for graphs........................................................................................11
3.3 Business presentation for dissemination of information.....................................................12
3.4 Dissemination of information through formal business report...........................................12
TASK 3..........................................................................................................................................12
4.1 Use of information processing tool.....................................................................................12
4.2 Creation of project management plan and critical path for effective decision....................13
4.3 Use of financial tools in effective judgements....................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Success can mainly be obtained by a business whether it is a small scale of large one
when there is ability to take up the right kind of decisions by management. Moreover, there are
various people within management which in turn can mainly impact upon the decision (Ferrell
and Fraedrich, 2015). There are various kind of business decision making which they are based
upon which can collect the ultimate kind of customers. This kind of project is mainly based upon
a Restaurant conducted by “ Food For Friends” which are looking forward to start another
business. There are various kind of techniques which are being framed in order to collect the data
from numerous kind of sources along with interpreting data in order to understand it in proper
manner. There are numerous kind of sources for data which will be utilised named as primary
and secondary and thus on that grounds questionnaire will be created. Moreover, there are certain
graphs and charts which in turn will enable to make the data in better way which is highly
essential for effective understanding. Moreover, software generated will be mainly taken into the
account in order to gain the proper outcomes.
TASK 1
1.1 Creation of plan for collecting data through primary and secondary sources
There are numerous amount of data which is being needed for every kind of project
which in turn gives support for meeting every kind of criteria. For this kind of aspect, there are
certain kind of sources named as primary and secondary sources for collecting data. There is an
effective structure needs to be followed for collecting the data and those are being described
below:
Primary Source: There is such kind of data which will be mainly collated by mainly personal
interaction with another individual. This kind of source is reliable in nature and thus mainly
provides helps in taking better level of decisions (Ford and Richardson, 2013). This kind of
process is mainly long which in turn can reflect on research value. Perfect plan for this kind of
source is being described below: Time: There are certain kind of perspectives along with completing the research in better
time frame. This kind of factor is needs to be taken within account for food with friends
and thus mainly implement the tasks in better way.
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 Purpose: The main purpose of this kind of research is making analysation on the
customer perspective along with some products and services of company. This thing will
be taken within account along with having better decisions. Cost: This kind of cost is mainly leading with the cost applied is the project which is
€10,000 which can be stated as an appropriate as per the small scale research for better
outcomes. Scope: This kind of project is mainly utilised for the company like Food for Friends
which in turn can mainly enable them to start another business in future time. Methods: There are certain methods which are qualitative and quantitative which will be
mainly utilised for data collection. Respondents: There are certain kind of people selected for this kind of research which is
80 and they are regular for the company. This in turn will enable the management which
can give help and judgement for long period of time.
Secondary Sources: This information depends on different books, articles and diaries which
gave by various writers (García-Peñalvo and Conde, 2014). Based on past research,
administrators of Nourishment for companions end up ready to take a gainful choice which are
useful in long haul setting. Accordingly, such creators give unmistakable addresses and
speculations with the goal that they will apply in business viably.
1.2 Survey methodology and sample framing used for research
There are various kind of tools and techniques which are being utilised for every kind of
survey in order to execute them in better way. Manager of the company Food for Friends
implement these kind of methodologies which in turn can mainly maximise the outcomes and
thus research can be conducted at vast level. There are methodologies which are being applied
by Food for Friends which are as described below:
 Survey Monkey
 Social media
 Questionnaire
 Interview
There are various kind of methods which can be utilised for applying into the valuable outcomes
which can be gained in better way. There are various survey methodologies which can be used to
gaining better results with appropriate kind of suitability. Company of the manager utilise the
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technique of questionnaire which in turn can mainly enable them for reaching into the level of
customers (Groebner and et. al., 2011). There are various chances of validity along with
reliability which are mainly moderate with scenario.
There are number of sampling methods which are being determined to take that into the
proper account. Managers use this kind of techniques within business described below:
 Survey Monkey
 Social media
 Questionnaire
 Interview
There are number of sampling methods which can be utilised used by managers within company
and thus they can opt out for major location of London where there are number of users which
belongs to. This in turn will mainly take and thus deriving out the various benefits with suitable
applicability.
1.3 Designing a questionnaire
Food for Friends is one of the effective company which is one of the well established
restaurant in London and thus for them questionnaire is being made. Research will be conducted
for conducting the analysation regarding the brand along with this kind of measure and thus long
term decisions will be made (Kline, 2010). This will mainly include 9 type of questions which
are open ended and thus many more along with 80 respondents which mainly belong to various
kind of locations of London, UK.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Does company give high quality products?
a) Yes
b) No
Q2. Are there any factors which are not appropriate with environment of restaurant?
a) Yes
b) No
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Q3. What kind of pricing category customer belongs?
a) More than €13
b) Between €14 to €56
c) More than €60
Q4. Is behaviour of Staff members appropriate?
a) Satisfactory
b) Not Satisfactory
Q5. Which place is suitable for new project?
a) Sea beach
b) Rooftop
Q6. What kind of modifications can be done ?
a) Completely Hotel
b) Cafe
c) Partly restaurant partly hotel
Q7. Are services and products are limited in nature?
a) Yes
b) No
Q8. Are the pricing strategy sufficient for the customers ?
a) Sufficient
b) Lack of sufficiency
Q9. Any further suggestion or recommendations?
2.1 Creation of information on the basis of suitable responses of respondents
There are certain responses which are being gained by Food for Friends from variety of
respondents which are mainly regular in nature and thus in relation to the questionnaire which is
prepared. On this kind of basis there are various kind of perspective that can be made and thus
mainly management can mainly conclude various kind of decisions which in turn can mainly
support the long term context of an entity (Data Collection Plan. 2017). Below described is the
data which is mainly created on various kind of people which in turn can mainly enable for the
authority of food for friends for taking the profitable judgement within long term:
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Ratings R1 R2 R3
1 50 30
2 25 55
3 25 35 20
4 47 33
5 52 28
6 27 3 50
7 48 32
8 55 25
As per the data analysis, there are various kind of things which are being analysed and thus they
can help out the company. High quality products are being delivered by restaurant along with
giving out reasonable prices for the products and services. Moreover, there is the staff which
needs much more training along with having much more effective communication process along
with enabling them for attracting high range of users. Data is being understood by the help of
utilising the measure of calculation.
2.2 Suitable calculation on the basis of data
There are majorly three kind of methods which are being described below:
 Mean
 Median
 Mode
Basically there are three kind of measures which assists in taking out the better decisions
for Food for Friends with motive of having out proper future oriented objectives which can be
structured. On the basis of above information, following is a data creation of project:
Ratings R1 R2 R3 Mean Median Mode
1 50 30 40 40 #VALUE!
2 25 55 40 40 #VALUE!
3 25 35 20
26.6666666
667 25 #VALUE!
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4 47 33 40 40 #VALUE!
5 52 28 40 40 #VALUE!
6 27 3 50
26.6666666
667 27 #VALUE!
7 48 32 40 40 #VALUE!
8 55 25 40 40 #VALUE!
As per the analysis, it is highly essential to determine that the company is mainly giving
out high quality products for the clients. Moreover, there are certain luxury items which are
being given but the medium class users which can demand whose range is among €14 to €56. it
is highly essential for the company to maintain the pricing strategies (Laudon and Laudon,
2015). There is one of the major aspect which is the behaviour of staff and thus company needs
to work upon. It is highly essential for them to mainly recruit high number of employees which
are mainly well trained along with having better interpersonal skill. Along with this, there are
various kind of employees who are being recruited as well trained along with having better
interpersonal skills. Along with this, there are high variety of products which are being mainly
delivered in order to attract high level of customers and thus enhancing experience as well.
2.3 Analysis of data by using measure of dispersion and standard deviation
Ratings R1 R2 R3
1 50 30
2 25 55
3 25 35 20
4 47 33
5 52 28
6 27 3 50
7 48 32
8 55 25
Standard
deviation Variances Mean
14.142135
6237 200 40
21.213203 450 40
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4356
7.0710678
119 50
26.6666666
667
9.8994949
366 98 40
16.970562
7485 288 40
16.970562
7485 288
26.6666666
667
11.313708
499 128 40
21.213203
4356 450 40
Standard Deviation: This kind of factor can be stated as procedure of measuring out the
dispersion under which there are analysation by which how the respondents along with
frequency which is highly differ from the group value (Pettigrew, 2014). There is the data which
is mainly based upon the Food for friends where the management which will take the crucial
decisions for the future project. In this kind of aspect, there is the distance from the above
average points in the context of quality which is mainly around the 14 which is more then half.
There are many of the people which are highly satisfied with quality services for company.
Moreover, it is being stated that the it is the perfect location for mainly starting up the process is
the Beach which is to attract the customers along with spending the quality time along with
people who wants to some hours of leisure.
Variances: This can be mainly defined as the ability or the skill of being different from others.
This thing needs to be taken within account by the management along with evaluation the
modifications which are being taken among the two kind of various segments along with
analysing among each and every kind of respondents which is easy to determine (Tzeng and
Huang, 2011). For this company will mainly have to work upon the staff members and thus
mainly provide the better level of training and development sessions. Along with this, there are
new employees who are recruited and thus they have enough knowledge for dealing with various
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kind of situations. Along with this, there are certain modifications which are being done from the
needed as these past years had some good quality goods and services which are being delivered.
Hence, this kind of price is not everything but also giving out high variety of products at the
proper location which is one of another major sector.
2.4 Use of quartile and correlation coefficient in judgement Quartile:This can be stated as the four equal segment which is the entire population along
with dividing properly. It is highly essential for mainly analysing the number of people at
certain stages and there is the major difference among each other. Analysation has to be
done for all kind of quartile in order to determine to all kind of success chances at every
level.
 Correlation coefficient: This kind of factor is highly essential for a company for mainly
determining the liner interdependencies for two variables. There are various values
between the +1 and -1 and thus the outcomes are out of this criteria then it would not be
acceptable. There are mainly two kind of variables who are dependent on each other in
every kind of frequency data.
Quartile 35 40 45 50
32.5 40 47.5 55
27.5 30 32.5 35
36.5 40 43.5 47
34 40 46 52
9 15 21 27
36 40 44 48
32.5 40 47.5 55
Correlation
coefficient -1
Relation
between 1
and 2
-
0.98422771
69
Relation
between 3
and 6
1 Relation
between 4
8

and 5
1
Relation
between 7
and 8
As per the data collection, it can be analysed that the quality along with environment
which have the perfect relationship with one another. This is highly essential for taking the
effective decisions along with maintaining the high level of quality within services and products.
Moreover, there are certain new projects in which the price should be between €14 to €56 with
some variants. This in turn can enable the company to attract large number of customers.
TASK 2
3.1 Use of graphs and charts for effective findings
1 2
0
10
20
30
40
50
60
50
30
Row 2
1. Services and products which are being provided by company are better in nature and thus
there are little changes which can be done for better results. There are certain standards
which are being maintained by the restaurants which can be maintained and thus it is
highly beneficial context for the Food for Friends.
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