Business Decision Making Report: Analysis of Food For Friends, Unit 6

This report focuses on business decision-making, using the case of Food for Friends, a restaurant chain looking to open a new outlet in London. It begins with a plan for collecting primary and secondary data, detailing methods such as questionnaires and online resources. The report then describes survey methodologies, sampling frames, and the design of a questionnaire to gather customer opinions. The analysis section involves creating information from the questionnaire responses, applying measures of central tendency (mean, median, mode), and using standard deviation and variance to assess data. Correlation coefficients are evaluated to understand relationships between variables. The report also covers the formulation of graphs, charts, and trend lines for improved working and forecasting, including the creation of a business presentation and a formal business report. Finally, the report explores the use of information processing tools, project planning with critical paths, and financial tools for effective decision-making, concluding with recommendations for Food for Friends' expansion strategy.

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Creation of plan for collecting primary and secondary data............................................1
1.2 Survey methodology and sampling frame use..................................................................2
1.3 Designing of questionnaire for gathering of information.................................................3
2.1 Creation of information on the basis of questionnaire.....................................................4
2.2 Use of measure of central tendency for effective decision...............................................5
2.3 Use of standard deviation and variances for effective decision making..........................6
2.4 Evaluation of correlation coefficient for appropriate understanding...............................6
TASK 2............................................................................................................................................8
3.1& 3.2 Formulation of graphs and charts for better working..............................................8
3.2 Use of trend line for effective and appropriate work.....................................................10
3.3 Formulation of business presentation to senior management.........................................11
3.4 Produce a formal business report...................................................................................11
TASK 3..........................................................................................................................................11
4.1 Use of appropriate information processing tool.............................................................11
4.2 Prepare a project plan for activity with critical path......................................................12
4.3 Use of financial tools for decision making.....................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Business needs appropriate and suitable decision making so that association become able
to manage and deal at vast level (García-Peñalvo and Conde, 2014). In this consideration,
business decision making is a crucial aspect which could be done with assistance of senior
management of a company. This project is based on Food For Friends need to open another
outlet in London with a clear motive to enhance their profit. In this aspect, appropriate creation
of plan get framed which support in collecting information through various sources. Along with
this, it will reflect a questionnaire which further enables in order to create suitable and relevant
data so that better and effective working could be done. Moreover, it also needs to prepare
various charts and graphs with trend line so that future forecasting becomes possible.
TASK 1
1.1 Creation of plan for collecting primary and secondary data
Each and every kind of project needs appropriate planning so that this will get completed
within limited period of time (Sharma, Mithas and Kankanhalli, 2014). Along with, it is required
to formulate aims and objectives which are associated with project; therefore it gets attained
within provided time span. For this, they will gather data and information in an effective way and
examine it properly; therefore, decision will be taken effectually. For this, they will take
assistance of some methods, which are stated as below: Primary data: This type of information is collected by manager recently so that it is
much accurate. Along with this, it is related to recent period of time which assist superior
to take judgement in more appropriate way. Employer of Food for Friends is utilizing this
technique; thus, they will acquire best and positive outcome. They are going to use
questionnaire methodologies for this as it aids to get viewpoint of many individuals. Secondary data: It will be gathered by manager through distinctive attributes like
internet, research paper, magazine and so on. This will take less time. But data which is
using is not related with recent time frames so that there is lack of effectiveness of
information.
This is my plan for the collection of the data
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Methods Time period
Secondary data Internet
Books
Journals
Articles
ONS
1-2 WEEKS
Primary data Survey
Prepare questionnaire
Using interview method
3-5 week
1.2 Survey methodology and sampling frame use
Manager of an organisation will conduct survey so that they will improve their working
operations. With assistance of this, they will acquire data and information in an appropriate
manner, which will help them into decision making procedure. They will take assistance of
sample method and select people on random basis. There are many kinds of survey methods will
be utilized by Food for Friends, which are mentioned as below: Survey Monkey: This is considered as a foremost method which will be used by an
individual to formulate questionnaire in an effective manner (Şen, 2017). Therefore,
feedback from respondents will be acquired. As a result, firm will take an appropriate
judgement for their business which helps them to survive at marketplace for maximum
period of time.
 Questionnaire: With assistance of this, superior will acquire response from many
respondents which will help them into growth and enhancement of Food for Friends.
They will take people on random basis to get their feedback and in this assignment
almost 80 individuals are get selected randomly (Tools used to process information,
2017).
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Sampling is considered as statistical process which is much concerned with selection of
observation of an individual. This can be classified into three parts, such as Random, Systematic
and Stratified. In this assignment, sampling is done on random basis, people are get selected
randomly and their views are gathered by formulating questionnaire. Here, sample size is 80.
1.3 Designing of questionnaire for gathering of information
This will be formulated by manager of an organisation so that they will gather viewpoints
or opinions of many people as they are going to open new outlet in London (Shouzhen and et.al.,
2014). Therefore, questionnaire for Food for Friends is stated as beneath:
Questionnaire
Name:
Gender:
Age:
E- mail:
Q1. Do you like Food and Beverages of restaurant of Food for Friends?
a) Yes
b) No
Q2. Provide rating to services and products to Food for Friends?
a) Superior
b) Great
c) Average
d) Low
Q3. How much will you spent to buy goods and services of company?
a) More than £25
b) Between £25 to £50
c) Less than £50
Q4. Are you satisfied with the services of Food for Friends effectually?
a) Yes
b) No
Q5. As per you, which kind of location is suitable for new restaurant of Food for Friends?
a) Beach side
b) Rooftop
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c) Near mall
Q6. Is there need for them to alter their goods and services to make them more effective?
a) Yes
b) No
Q7. According to you, pricing policy of restaurant is good or not?
a) Yes
b) No
Q8. What kind of extra offers are providing by Food for Friends to their customers?
a) Discount
b) Vouchers
c) Coupons
Q9. Provide rating to the restaurant out of 3?
a) 1
b) 2
c) 3
Q10. Any suggestions or recommendations?
2.1 Creation of information on the basis of questionnaire
It is must for manager to examine outcomes which is gained by them as this will assist
them into decision making procedure. This will help them to do entire working in an appropriate
manner.
Question R1 R2 R3 R4 Total
1 60 20 80
2 30 20 20 10 80
3 30 30 20 80
4 65 15 80
5 20 25 35 80
6 50 30 80
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7 75 5 80
8 50 20 10 80
9 20 30 30 80
Here, 'R' represents respondents and they provided there viewpoints in relation to
questionnaire so that they will take an effective decision for company which is beneficial for
them.
2.2 Use of measure of central tendency for effective decision
Question R1 R2 R3 R4 Total Mean Median Mode
1 60 20 80 40 40 #VALUE!
2 30 20 20 10 80 25 25 #VALUE!
3 30 30 20 80 30 30 30
4 65 15 80 40 40 #VALUE!
5 20 25 35 80 22.5 22.5 #VALUE!
6 50 30 80 40 40 #VALUE!
7 75 5 80 40 40 #VALUE!
8 50 20 10 80 35 35 #VALUE!
9 20 30 30 80 25 25 #VALUE!
Mean: This is considered as an average of series which needs to be comprehend by superior in
an effective manner (Yang and Gabrielsson, 2017). From above discussion, it has been
comprehended that there are many people who liked food and beverages of Food for Friends
restaurant in an appropriate manner. This will assist them to maintain their reputation and market
share effectually. As per above calculation, it has been comprehended that there are various
people who like food and beverages of Food for Friends. In this, mean is determined almost 40.
Median: It is a mid-value which aid to represent frequency and will affect working in a
direct way. From above data, it get concluded that there are many people who will spend more
than €50 amount on goods and services of restaurant. They will belong to upper higher class; as a
result, profits of company will get improved. From above discussion, it has been understood that,
almost 35 respondents want that they will open their new outlet near mall because it helps to gain
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attention of numerous individuals towards them. This will assist to enhance client base which
will help them in improvisation of revenues.
Mode: It is the value whose nature is repeatedly so that manager has to comprehend this
in an appropriate way (Levine, Chen and AlQaudi, 2017). From above data, it has been
understood that numerous persons are satisfy with services and food of this restaurant, which
will help to acquire attention of numerous people towards them. As a result, they will be able to
take benefits from their competitors at marketplace. There are many people who will spend much
money in restaurant to have some food. Almost 30 individuals will spend £25 to £50 and mode
for this is calculated almost 30.
2.3 Use of standard deviation and variances for effective decision making
Question R1 R2 R3 R4 Total Variance Standard deviation
1 60 20 80 800 28.2842712475
2 30 20 20 10 80 50 7.0710678119
3 30 30 20 80 0 0
4 65 15 80 1250 35.3553390593
5 20 25 35 80 12.5 3.5355339059
6 50 30 80 200 14.1421356237
7 75 5 80 2450 49.4974746831
8 50 20 10 80 450 21.2132034356
9 20 30 30 80 50 7.0710678119
Variance: It is required for manager of an association to comprehend variations amongst
each variable (Atkinson, Bayazit and Karpak, 2015). This will help them into decision making
procedure. From above data, it has been comprehended that as Food for Friends are going to
open their new outlet in London so that people want from them that they will choose location for
this near mall. The main reason behind it, this will get attention of numerous individuals towards
them and they will easily improve profits.
Standard deviation: It defines distinction amongst value of mean to frequency. By
understanding it effectively, results will be acquired by superior (De Maio and et.al., 2016).
From above assignment, it get understood that pricing policy of restaurant is much effective
which assist to gain attention of many people. By calculating standard deviation, difference will
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be identify amongst two variables. So that, better decision making get done. On the basis of
provided data it will enable Food for Friends to take beneficial judgement by evaluating
consideration among various customers. Quality of restaurant is effective which aid capture
attention of numerous individuals. Standard deviation amongst them is almost 28.28.
2.4 Evaluation of correlation coefficient for appropriate understanding
Question R1 R2 R3 R4 Total
Correlation
coefficient
1 60 20 80 1
2 30 20 20 10 80
3 30 30 20 80
4 65 15 80
5 20 25 35 80
6 50 30 80
7 75 5 80
8 50 20 10 80 -0.9707253434
9 20 30 30 80
Percentile 1 Percentile 2 Percentile 3 Percentile 4
60 40 46.6666666667 30
30 20 26.6666666667 17.5
30 30 30 25
65 40 48.3333333333 27.5
35 25 23.3333333333 22.5
50 40 43.3333333333 35
75 40 51.6666666667 22.5
50 20 40 15
30 30 26.6666666667 25
Percentile helps to measure relative standing, with assistance of this manager of firm will
acquired value relation position to remaining set of data. It has been examined that people are
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much satisfied with the services of company as this helps to gain attention of many individuals.
It will improve reputation and market share of firm.
Quartile 1 Quartile 2 Quartile 3 Quartile 4
30 40 50 60
17.5 20 22.5 30
20 30 30 30
15 40 52.5 65
20 25 30 35
30 40 45 50
5 40 57.5 75
10 20 35 50
20 30 30 30
Quartile will distribute data into four equal parts, hence each part will show one forth of
set of data. From above discussion it has been understood that, it is required for an organisation
to modify their items and services because it helps to improve their image at marketplace. By
doing this, they will also enhance their market share.
Correlation coefficient: It portrays relation amongst two variables; therefore, an effective
judgement will be taken to improve working of firm. If it is positive one, then this is considered
as the best relationship. From above data, it get concluded that Food for Friends is providing
discounts to clients which help to attract them and maintain customer base effectually.
TASK 2
3.1& 3.2 Formulation of graphs and charts for better working
Theme 1: Many people like food and beverages of Food for Friends
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60
20
Yes
no
Interpretation: Quality of food and beverages is much effective which aid attention of
many individuals towards them. As a result, they will take benefits from contenders at
marketplace. From above data, it has been comprehended that almost 60 individuals are
favouring this statement, but remaining people are not in favour of this argument.
Theme 2: Individual provides rating to services and products of restaurant as superior
30
20
20
10
Superior
Great
Average
Low
Interpretation: Products and services of restaurant are much effective which aid to
capture attention of numerous individuals towards them. They provided rating to Food for
friends as per their experience. From above presented graph, it has been understood that almost
30 individuals marked as superior, 20 people marked as great and 20 of them marked as average.
But there are some respondents who considered them as a low.
3.2 Use of trend line for effective and appropriate work
Theme 3: People will spend sufficient amount to buy goods and services of restaurant
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Interpretation: There are many people who will spend some amount to buy goods and
services of restaurant. Each type of individual visit Food for Friends as per their capabilities.
Almost 30 individuals are spending more than €25 to fulfil their needs, 30 respondents are
spending between €25 to €50 and remaining people spent less than €25 over there.
Theme 4: Persons are much satisfied with services of Food and Friends
Yes no
0
10
20
30
40
50
60
70 65
15
Column B
Linear (Column B)
Interpretation: Numerous individuals are satisfied with the services of restaurant which
will help them to take benefits from competitors at marketplace. From above trend line, it get
concluded that almost 65 individuals are favouring this statement, but remaining are not in
favour of this.
10
More than €25
Between €25 to €50
Less than €50
0
5
10
15
20
25
30
35
30 30
20
Column B
Linear (Column B)

3.3 Formulation of business presentation to senior management
3.4 Produce a formal business report
The Management
Food for Friends
Date: 20th February, 2018
Subject: Recommendation associated with another restaurant chain in London.
Introduction
Manager of Food for Friends wants to open another outlet of their restaurant in UK. For this,
they have to investigate each factor so that they will do entire work in an appropriate manner. It
is essential for each organisation to take an appropriate decision for business because it assists
them into their growth and enhancement.
Methodology
Manager of firm will utilize primary or secondary source of data as it will help them to gathered
data and information effectively. Questionnaire is formulated to obtain viewpoint of numerous
individual. Persons are selected on randomly basis.
Findings
Food and beverages of restaurant is much effective which will easily gain attention of numerous
individuals. This will help them to take benefits from competitors at marketplace. It is required
for them to start pub or disc at new restaurant as this will help them in improvisation of
customer base. Along with this, they will provide some discounts to their users because it assists
to satisfy them in huge manner. They will take feedback from clients as this will help them into
their success and development.
Conclusion
Henceforth, it has been comprehended that, if superior of restaurant open new outlet then, this
will cater maximum advantages to them because it aids them into their growth and
development. Along with, they will be able to take benefits from competitors at marketplace.
TASK 3
4.1 Use of appropriate information processing tool
It is essential for each organisation to gather sufficient data and information as this will
help them into decision making procedure (Wieder and Ossimitz, 2015). Manager has to take an
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