Business Decision Making Report: Survey, Data, and Financial Tools

This report delves into business decision-making strategies, analyzing the impact of technological advancements and multi-channel shopping on the retail sector. It begins with a discussion of primary and secondary research, focusing on customer behavior and shopping trends. The report outlines the data collection plan, including survey methodology and sampling techniques, followed by the preparation of a questionnaire. Data interpretation involves analyzing survey responses, calculating descriptive statistics like mean, median, and mode, and interpreting the outcomes with respect to customer preferences and sales trends. The findings are represented in spreadsheets and graphs, including trend lines for sales and profit. Furthermore, the report explores information systems used in decision-making, identifies critical paths using network diagrams, and applies financial tools such as net present value and internal rate of return. The conclusion summarizes the key insights and findings of the research, providing a comprehensive overview of business decision-making processes.

BUSINESS DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Determining plan for collecting data.....................................................................................3
1.2 Survey methodology and sampling frame............................................................................4
1.3 Preparing questionnaire for collecting data...........................................................................5
TASK 2............................................................................................................................................7
2.1 Interpretation of data from survey.........................................................................................7
2.2 Interpretation and analysis of outcomes with context to conclusions...................................9
Theme 1.......................................................................................................................................9
Theme 2.......................................................................................................................................9
Theme 3.......................................................................................................................................9
2.3 Application of dispersion for data interpretation..................................................................9
2.4 Drafting conclusion by using quartile and percentile.........................................................10
TASK 3..........................................................................................................................................11
3.1 Representing outcome of survey through spreadsheet........................................................11
3.2(b) Providing graph along with trend line of growth of sales and profit..............................13
3.3 Poster presentation..............................................................................................................14
3.4 Preparing formal report for Retail Times Magazines.........................................................14
TASK 4..........................................................................................................................................15
4.1 Describing characteristics of various information system..................................................15
4.2 identifying critical path with context of network diagram..................................................17
4.3 Application of financial tools for decision making.............................................................18
CONCLUSION..............................................................................................................................20
REFERENCES..............................................................................................................................21

INTRODUCTION
The present study is giving brief discussion about various business decision tactics and its
importance in current market. The present report is giving brief discussion about primary and
secondary research of reasons which are impacting on high street shops and malls due to
technological innovation and evolution phase of multi channel shopping. It is extracting issues
because of different reasons for change and platform for shopping has been used and its impact
because of socio economic. This topic has framed questionnaire for gathering data with
appropriate survey methodology and sampling frame. There is representation of arithmetic mean
mode and median of that specific response of survey and it has been analysed with appropriate
conclusions. In this report findings are represented in spreadsheet and it has been elaborated in
graphic format. There is presentation of trend line of minimum period of 3 year of Debenhames
Plc. In the last task, some information system which are used for process of decision making
with their essential features in context of business. Further it has mention network diagram by
assessing its critical path and various financial tools used for decision making such as net present
value and internal rate of return.
TASK 1
1.1 Determining plan for collecting data
There are various concepts in context of advancement of technology and its innovation
which are pertaining to retail sector. The business environment consists of different alterations of
trend line for accomplishing goals and they are replicated as a competitive element in nature.
Subject: To identify consequences due to innovation in technology and multi-channel
shopping on the basis of various customers and sales.
This specified research paper will be reflecting issues related to our subject as it has basic
requirement of secondary and primary data with perspective of researcher.
Primary data: It consists of information which is extracted from focus group, survey,
observation, etc. which will be having its applicability for attaining the specific subject of this
research. The extracted information which is very appropriate and suitable will be giving effects
in huge proportion to its outcomes. In this research, there is requirement of information in
context of shopping habits and customer preference for accomplishing objective and for

recording the changes (Hajdu, 2013). In this specific retail sector, survey technique will be used.
One of the best measures in context of high street malls and shops is referred as purposive
sampling and it will be taking sample of 30 managers. After the appropriate selection of
technique, it will move towards next step which is drafting questionnaire of both types of
questions i.e. open ended and close ended and it will be directly linked to shopping habits and
alterations in same context. The questionnaire which is drafted will be given to those managers
(30) and persons who have direct link to our objective of specific research. The extracted data
will be directly linked to plan and most of the information will be gathered from scholar and
from authenticate resources.
Secondary data: It consists of data which is already published, interpreted, classified and
analysis performed by other researcher. There are various issues and their solutions are extracted
from journals, articles, scholarly papers and journals. It includes the full disclosure of data and
trend of multi-channel shopping as it is providing significance level of every customer which
will be according to the latest information about data of customers in context of shopping from
retail outlet and trends which is followed. Internet is referred as one of the best and possible
ways for collecting information in context of past behaviour of customer and shopping trend.
1.2 Survey methodology and sampling frame
Survey Methodology: It is referred as the most important stage which cannot be avoided
by any manager as this gives specific justification of performance in an efficient aspect. For
performing research, specific time period is chosen and it lays special focus on choosing the
method for applying it accordingly (Rosqvist and Hiselius, 2016). The consequences of
technological innovation on sales and customer base of retail outlet are highlighted in this and
responses will be recorded according to malls from manager of company which is through online
survey. The main aspect of implying this online survey methodology is that it helps in saving
time and its outcome are very efficient.
Sampling Frame: It should be chosen in context of topic of survey and selection of
sample should be in same manner. The application of sampling should be according to
probabilistic and non-probabilistic technique. The sample should be selected in context of aim
and subject or research in non-probabilistic technique and on its contrary, probabilistic technique
selects all the individuals whosoever is linked with research as sample. The present research is
performed by adopting technique of purposive sampling by choosing 30 managers who are

giving possibilities for perfect match for qualitative type of research and its recommendations
will be directly based on solutions of mentioned issue.
1.3 Preparing questionnaire for collecting data
While preparing questions in context of survey should be very indicative in nature as it
must provide efficient outcomes. The questions must be linked to basic subject of this research as
it consists of both close and open ended questions (Daigle, 2016).
Demographic information
Name:
Gender:
 Male
 Female
 Others
Profession:
 Undergraduate
 Graduate
 Post graduate or masters
 Ph.D.
Age
 18 – 30
 31 – 60
 60 and above
Annual income
 < 100000
 between 100001 to 250000
 between 250001 to 500000
 > 500000
1. Does shopping habits of customer changes with time?
 Yes
 No
2. How much you agree that there is decrease in sales trend of revenue with perspective of

retail products and services?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
3. Do you agree that online stores are given with more preference than physical high street
shops and malls?
 Yes
 No
4. How often annual income gives impact on shopping habits of customers?
 Very often
 Often
 Sometimes
 Rarely
 Never
5. Which factor is considered as the most essential for changing shopping habits?
 Discount
 Comparison
 Convenience
6. Do you think trend of working women gives important factor for changing shopping
habits while shopping?
 Yes
 No
7. Select the range which you will spend on online purchase for per year.
 < 10 pounds
 between 11 to 30 pounds
 between 31 to 50 pounds
 between 51 to 70 pounds
 > 70 pounds
8. Give some suggestions for increasing performance of sales and to increase customer

base?
........................................................................
........................................................................
TASK 2
2.1 Interpretation of data from survey
Respondents Question 2 Question 3 Question 5
1 1 1 3
2 2 1 2
3 1 2 1
4 4 2 3
5 1 1 2
6 2 1 2
7 3 2 3
8 1 1 3
9 2 2 3
10 4 1 3
11 1 2 3
12 1 2 3
13 1 1 1
14 3 2 3
15 2 2 2
16 1 1 3
17 5 2 1
18 3 2 3
19 2 1 3
20 1 2 2
21 5 1 3
22 3 1 1
23 2 1 3

24 1 1 1
25 5 2 1
26 3 2 3
27 1 1 1
28 2 1 1
29 1 1 3
30 1 1 3
Theme 1 Theme 2 Theme 3
Mean 2.1666666667 1.4333333333 2.3
Standard Error 0.2448707533 0.0920186554 0.1601005431
Median 2 1 3
Mode 1 1 3
Range 4 1 2
Minimum 1 1 1
Maximum 5 2 3
Sum 65 43 69
Count 30 30 30
Interpretation: The above table is depicting descriptive analysis of 30 managers who
were selected as sample of whole population about the research subject. The analysis which is
presented by selecting some important question of the whole scenario which are giving huge
impact (Gallo, 2016). The behaviour pattern has been traced by highlighting the important
insights of customer towards shopping in physical store. The specific subject of research can be
briefly viewed by question 2, 3 and 5 which are replicated above by theme 1, 2 and 3
respectively. Theme 1 is depicting about declining trend of sales revenue because of retail
products and services. By evaluating mean of every individual who are leaning towards different
statement of revenue decline is represented annually. Theme 2 is depicting about preference of
online stores over retail outlets whose mean is 1.43 which means high preference towards online

stores as compared to retail outlets. In the same series theme 4 is interpreting most important
concept of this study as relevance of most important factor whose mean is replicated as 2.3 as it
has identified the preference fluctuations that is given inconvenience and followed by discount
and then comparison.
2.2 Interpretation and analysis of outcomes with context to conclusions
Theme 1
Interpretation: The outcome of survey is giving indication that 43.33% and 23.33%
people agree that there is decline in sales of high street malls and shops because of innovation of
various technological advancements in retail sector. 16.67% disagree that it is not reducing as
technology is not impacting it as they are blaming economic condition. The retail sector has been
changed by entering of online websites in shopping which is drawing negative aspect in
performance of organization.
Theme 2
Interpretation: it is reflecting outcome of question 3 as it is depicting clear view that
majority people are giving more preference to online websites for purchasing products and
services instead of physical high street malls and shops. But on its contrary 43 percent population
disagree with preference of online store due to lack of trust, loyalty and sensuality of products
and services.
Theme 3
Interpretation: This theme refereed as backbone question of survey, as it is directly
emphasizing factor for huge preference to online stores. There is presence of 57% who prefers
online stores due to convenience factor as in the present era people have very complex working
schedule so for more comfort zone they prefer this. There are 27% people who buys goods and
service because of discount as there are very rational people and 17% person has objective of
creating comparison about their services and products.
2.3 Application of dispersion for data interpretation
Standard deviation: It is referred as statistic which measures data set's dispersion in
context to mean and it comes to square root of respective variance. If there is presence of huge
spread from data points to mean then there are huge deviation in that specific data set and thus
more spread out of that data then standard deviation is higher. It specifies range in huge and less
volume.

Variance: It is replicated as one of the most essential statistic measure for quantifying
difference of various observations in context of each other. In simple words it is defined as
deviation of actual expense from amount which is budgeted and forecasted (Gong and et. al.,
2018).
Result of variance and standard deviation
Theme 1 Theme 2 Theme 3
Standard Deviation 1.3412 0.5040 0.8769
Sample Variance 1.7989 0.2540 0.7690
Kurtosis -0.1593 -2.0621 -1.4025
Skewness 0.9613 0.2834 -0.6509
Interpretation: The standard deviation of all three themes are taken as priority and there
outcome has been interpreted as mean of theme 1 and theme 3 and its standard deviation has
huge spread so there is decrease in sales trend of revenue with perspective of retail products and
services. Theme 2 has huge spread so mean value is farther away from data set.
2.4 Drafting conclusion by using quartile and percentile
Quartile: It is referred as one of type of quantile, usually it divides whole data into three
points as lower quartile, median and upper quartile. Usually it is used for setting outliers of data
set.
Percentile:Generally it is used in statistics for measuring the value which is below
specific percentage of observations in that particular group.
Particulars Theme 1 Theme 2 Theme 3
Quartile 1 and 25th percentile 1 1 1.25
Quartile 2 and 50th percentile 2 1 3
Quartile 3 and 75th percentile 3 2 3
Interpretation: It is replicating quartile and percentile which is giving its outcome and it
can be elaborated as while consuming goods and services they get more influenced by
convenience factor so its major recommendation is in specific sense that product line and its
design should be unique and developed related to customer preference and they must locate
physical outlets near residential area (García-Peñalvo and Conde, 2014).

TASK 3
3.1 Representing outcome of survey through spreadsheet
Theme 1
Serial number Particulars Figure Percentage
1 Strongly agree 13 43.33%
2 Agree 7 23.33%
3 Neutral 5 16.67%
4 Disagree 2 6.67%
5 Strongly disagree 3 10.00%
Total respondents 30 100.00%
Strongly agree Agree Neutral Disagree Strongly disagree
0
2
4
6
8
10
12
14 13
7
5
2
3
43.33% 23.33% 16.67% 6.67% 10.00%
Figure
Percentage
Theme 2
Serial number Particulars Figure Percentage
1 Yes 17 56.67%
2 No 13 43.33%
Total respondents 30 100.00%

Yes No
0
2
4
6
8
10
12
14
16
18 17
13
56.67% 43.33%
Figure
Percentage
Theme 3
Serial number Particulars Figure Percentage
1 Discount 8 26.67%
2 Comparison 5 16.67%
3 Convenience 17 56.67%
Total respondents 30 100.00%
Discount Comparison Convenience
0
2
4
6
8
10
12
14
16
18
8
5
17
26.67% 16.67% 56.67%