Food For Friends: Business Decision Making and Data Analysis Report

This report provides a comprehensive analysis of the business decision-making process for Food For Friends, a vegetarian restaurant. The report covers the collection of primary and secondary data, survey methodologies, and the design of a questionnaire to gather customer feedback. It includes a detailed analysis of the collected data, including measures of central tendency, dispersion, and correlation, to draw valid conclusions. The report also utilizes graphs created in spreadsheets to visualize the data and identify trends. Furthermore, it explores the use of financial tools for decision-making and presents a project plan for a proposed activity. Overall, the report aims to provide insights into the restaurant's expansion plans, based on thorough data analysis and market research.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for collection of primary and secondary data...............................................................1
1.2 Survey methodology and sampling frame used....................................................................2
1.3 Questionnaire for a given business problem.........................................................................3
TASK 2............................................................................................................................................5
2.1 Information for decision making by summarising data........................................................5
2.2 Results to draw valid conclusions.........................................................................................7
2.3 Data using measures of dispersion........................................................................................8
2.4 Quartiles, percentiles and the correlation coefficient are used to draw useful conclusions .9
TASK 3............................................................................................................................................9
3.1 Graphs using Spreadsheets and draw valid conclusions.......................................................9
3.2 Trend lines in spreadsheet graphs.......................................................................................16
3.3 Covered in PPT...................................................................................................................18
3.4 Formal business report........................................................................................................18
TASK 4..........................................................................................................................................19
4.1 Appropriate information processing tools...........................................................................19
4.2 Project plan for an activity..................................................................................................19
4.3 Financial tools for decision making....................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Decision making refers to process of choosing from set of the alternative action courses,
which thought to satisfy aims of decision issues more satisfactory as comparison to others. It is
an internal part of management and manager take many decisions which can make business more
successful (Aharoni, 2015). It is a necessary function in management if decision making is
concerned to issue, better decision making aids in attain set objectives and aims through solving
issues. Food For Friends is a vegetarian restaurant which serve innovative dishes as well as
providing set seasonal menu. In this given business report discuss about the survey methodology
and also sampling frame. The percentiles, correlation coefficient and quartiles all are used to
draw valid conclusion in business will be mention in this mention report. Under this mention
assignment discuss about use of the financial tools for the decision making.
TASK 1
1.1 Plan for collection of primary and secondary data
Food for friends is firm which is recently providing services in London. Company have
large varieties of products in menu which help seniors to grab attention of people. Prime purpose
of restaurant is to enlarge operations to enhance sales as well as revenue. To achieve this
objective, administration has make decisions in respect to opening new outlets in London. Thus,
efficient judgements are made in different aspects which influence business operations.
Primary and secondary sources of data collection are used by management to have accurate and
complete information about market conditions. Market survey is techniques which help them to
take opinion from respondents about services and items (Chen, Chiang and Storey, 2012). This
benefits company to acknowledge its reputation and image in respect to competitors, thereby
take appropriate decisions and design system accordingly.
Primary source: It includes collecting new information and data which has not gathered before.
In this, information is to be collected for specific purpose. It is used through an investigator to
gather opinions as well as view points from respondents directly. Information and data which is
gathered from respondents is reliable as well as true related with topic of investigation. In
addition to this, it gives an effective opportunity to employer to take better decision. There are
different methods of primary source like survey, questionnaire, focus groups etc.
1

Surveys- It is an effective methods and helpful in achieve information by respondents
gestured because in this face- to- face communication is included. There is a requirement to take
more time to gather information as comparison to the other methods.
Questionnaire- It involves set of investigation questions related to business problems. It
is of two types like close and open ended (Clemen and Reilly, 2013). On questionnaire, there are
different questions are methods and researcher take opinions of people.
Focus groups- It is qualitative research form including interviews under which group of
individuals are asked regarded to their opinions, attitudes, perception towards service, idea,
goods etc. It is group of individuals which are built to participate in explanation regarding goods
and services before launches or give proper feedback.
Secondary source- It consists synthesis, summary and collation of current investigation. It is
contrasted with the primary investigation. Under this, researcher gathered data through some
one. In order to collect information, researcher use articles, books, libraries, journals etc. It is
cost as well as time saving method but it does not give reliable information and data as
comparison to the primary method.
1.2 Survey methodology and sampling frame used
In order to achieve success in an expansion plan, there is a requirement to gather relevant
information and data. It contribute towards taking better decisions regarded to set up of new
restaurant in the London. In context to this, there is a need to an investigator to adopt better
research methodologies. It gives an effective opportunity related to solve problems which are
arise at the time of executing plan. With the help of better research methodology, researcher can
collect appropriate and relevant data in an effective or better manner (Hilton and Platt, 2013).
Various kinds of research methods are mention:
Descriptive- It is used to explain about characteristic of population or any phenomenon
being to be studied. It consists study and survey methodologies which aids in determination of
facts and figures related to existing affairs which researcher wants from investigation. It consists
gathering of new data and information in order to interpret necessary conclusion.
Quantitative and qualitative research- Quantitate investigation consists gathering of
information from information and data in form of the quality. It will be helpful in taking better
decisions. On the other qualitative research consist collection of data from people through their
behaviour, attitudes etc.
2

Exploratory research- It is conducted for issues which are not studied in an intended and
clear manner in order to establish priorities and also develop better operational definitions to
make improvement in research design.
Research methodologies
It refers to theoretical and systematic analysis of methods which applied to area of study.
In this, there are two different methods primary and secondary which are available for researcher
(Holmes and Paudyal, 2012). In this case, primary research method is chosen because it is
helpful for decision making regarding starting new branch in London. Under this method, data is
collected through questionnaire on which 10 various questions are maintained.
Designing of sample framework
It consists regarding adopt of an effective methods which aids an investigator concerning
about chosen of some respondents from the total population. There are different method of
sampling like stratifies, random and cluster. Under this, researcher used random sampling
method and select 40 respondents. Necessary information which an investigator collected about:
Identify better plane in London in order to set up business.
1.3 Questionnaire for a given business problem
Questionnaire: It is an investigation instrument including series of the questions fore aim of
collecting information and data from respondents. It consists preparations of the investigation
questions according to their objectives (Macaulay, 2018). It is divided in to two different parts
which are mention below as above:
Open-ended- It helps in achieving view points as well as opinions of different
respondents as it gives freedom to give opinions.
Close-ended- It gives many answers under which researcher requires to chose one from
respondents on the basis of their choice.
Questionnaire
Name:
Occupation:
Age:
Gender:
Q1) Does another branch of Food for Friends is viable move in London?
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a) Yes
b) No
Q2) Which service needs to improve to Food For Friends to attract the large number of
consumers?
a) Better food quality
b) Ambiance
c) Quick services
Q3) Which place you will suggest to open new branch of Food For Friends in London?
a) Main city
b) Near by tourist places
c) Outside area
Q4) Which dish you like the most in Food For Friends restaurant?
a) Chinese
b) Italian
c) French
Q5) In a month, how many times you like to visit Food For Friends?
a) Once in a month
b) Twice in month
c) Thrice in a month
Q6) According to you, does Food For Friends require to make any changing in its new
restaurant?
a) Yes
b) NO
Q7) Is expansion helpful in improve brand reputation of Food For Friends company?
a) Yes
b) No
Q8) Is expansion of business provides competitive advantage to firm in order to sustain long
term at market place?
a) Yes
b) No
Q9) Are you satisfied from the pricing policies of this restaurant?
4

a) Yes
b) No
Q10) Give recommendations for increase business operations for Food For Friends.
TASK 2
2.1 Information for decision making by summarising data
Q1) Does another branch of Food for Friends is viable move in London?
Particulars No. of respondents
Yes 26
No 14
Total 40
Mean 20
Median 20
Mode 12
Q2) Which service needs to improve to Food For Friends to attract the large number of
consumers?
Particulars No. of respondents
Better food
quality 20
Ambiance 10
Quick
services 10
Total 40
Mean 13.3333333333
Median 10
Mode 0
Q3) Which place you will suggest to open new branch of Food For Friends in London?
Particulars No. of respondents
5

a) Main city 16
b) Near by
tourist places 14
c) Outside
area 10
Total 40
Mean 13.3333333333
Median 14
Mode 6
Q4) Which dish you like the most in Food For Friends restaurant?
Particulars No. of respondents
a) Chinese 10
b) Italian 20
c) French 10
Total 40
Mean 13.3333333333
Median 10
Mode 0
Q5) In a month, how many times you like to visit Food For Friends?
Particulars No. of respondents
a) Once in a
month 25
b) Twice in
month 10
c) Thrice in a
month 5
Total 40
Mean 13.3333333333
Median 10
6

Mode 0
Q6) According to you, does Food For Friends require to make any changing in its new
restaurant?
Particulars No. of respondents
a) Yes 25
b) No 15
Total 40
Mean 20
Median 20
Mode 10
Q7) Is expansion helpful in improve brand reputation of Food For Friends company?
Particulars No. of respondents
a) Yes 23
b) No 17
Total 40
Mean 20
Median 20
Mode 6
Q8) Is expansion of business provides competitive advantage to firm in order to sustain
long term at market place?
Particulars No. of respondents
a) Yes 24
b) No 16
Total 40
Mean 20
Median 20
Mode 8
7

Q9) Are you satisfied from the pricing policies of this restaurant?
Particulars No. of respondents
a) Yes 15
b) No 25
Total 40
Mean 20
Median 20
Mode 15
2.2 Results to draw valid conclusions
Year Sales Net Profit
2008 2400 950
2009 2460 1100
2010 2510 1350
2011 2590 1490
2012 2650 1550
2013 3100 1640
2014 3300 1780
2015 3950 1960
2016 4100 2100
2017 4550 2500
Mean 3161 1642
Median 2875 1595
Mode 2400 950
Mean: It is calculation of past sales as well as net profit figures of Food For Friends firm
from 2008 to 2017 in order to ascertain amount that incurred over time period (Perlmutter,
2017). It is helpful in take better decision by use of average figures. Mean of net profit and sales
is 3161 and 1642.
Median: It helps in segregation of present value as upper and also lower half data,
median of net profit and sales is 2875 and 1595.
8

Mode: It helps to ascertain figure from present sales and new profit. Modes of new profit
and sales is 2400 and 950.
2.3 Data using measures of dispersion
Year Sales Net Profit
2008 2400 950
2009 2460 1100
2010 2510 1350
2011 2590 1490
2012 2650 1550
2013 3100 1640
2014 3300 1780
2015 3950 1960
2016 4100 2100
2017 4550 2500
Minimum 2400 950
Maximum 4550 2500
Standard
deviation
784.438227863
3
466.13779555
45
Correlation
coefficient 0.9488205625
Range- IT is helpful in determine maximum and minimum sales and net profit values from
mention series (Pettigrew, 2014). It aids in search reasons which minimized sales as well as net
profit to take necessary solutions. Under this, minimum sales and net profit range is 2400 and
950. On the other hand, maximum range is 4550 and 2500.
Standard deviation: It helps in identify risk which is related with project. In this, standard
deviation is 784.4382278633 and 466.1377955545.
Standard deviation: √∑Fdx2/N – (∑Fdx/N) 2
9

2.4 Quartiles, percentiles and the correlation coefficient are used to draw useful conclusions
Quartile- It is used for understand regarding deviations in series. It is effective because
there is no requirement to use any mathematical obligations.
Percentile- It aids in resolve problems which are available. Necessary percentile is 25th.
Correlation coefficient- It is helpful in understand relationship among two different
variables. Outcomes are optimum if falls among range of 1 to-1.
TASK 3
3.1 Graphs using Spreadsheets and draw valid conclusions
Q1) Does another branch of Food for
Friends is viable move in London?
Frequency
Yes 26
No 14
Q2) Which service needs to improve to Food Frequency
10
Yes No
0
5
10
15
20
25
30 26
14 Column B