Business Decision Making Report - HND Business - Wembley Campus

This report analyzes the business decision-making process for Food for Friends, a restaurant aiming to expand in London. It begins with a plan for collecting primary and secondary data, followed by a detailed explanation of survey methodology, sampling frame, and questionnaire design. The report then summarizes the collected data, calculates representative values, and draws conclusions based on the analysis. Statistical tools like standard deviation, quartiles, percentiles, and correlation coefficients are utilized to provide a comprehensive understanding. Further, the report includes graphs, trend lines, and a business presentation. Finally, it incorporates information processing tools, a Gantt chart, critical path analysis, and financial tools to support decision-making, culminating in a formal business report with actionable recommendations for the restaurant's expansion strategy. The report highlights the importance of understanding customer preferences and market dynamics to make informed business decisions.

BUSINESS
DECISION MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 A plan for the collection of primary and secondary data.................................................1
1.2 Survey methodology & sampling frame...........................................................................2
1.3 Questionnaire....................................................................................................................3
2.1 Collection of data and summarisation of collected data...................................................4
2.2 Conclusion and recommendations....................................................................................7
2.3 Standard deviation, quartile, percentiles and the correlation coefficient.........................8
2.4 Conclusion through calculations....................................................................................11
TASK 2..........................................................................................................................................11
3.1 & 3.2 Graphs and a valid conclusions based on the information derived with trend line11
3.3 Business Presentation.....................................................................................................18
3.4 A formal Business Report to disseminate information effectively which include.........18
TASK 3..........................................................................................................................................19
4.1 Information processing tools..........................................................................................19
4.2 Gantt chart and critical path for project plan..................................................................19
4.3 Financial tools for decision making...............................................................................21
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................23

INTRODUCTION
Business decision-making is not about choosing the right decision but it is making right
decision by analysing yearly report of business. There is no consistency in the operations of
business which are there while any plan is implemented in an organisation. When a company
have has take any decision regarding its growth and development then there is a need for analysis
which can be theoretical or practical. Interpretation of data get done by using various number of
sources like graphs, articles. A proper data interpretation will lead to aid in taking appropriate
decision for business which support in long term. This report is a complete analysis of restaurant,
Food for Friends so as to take business decision in opening the another restaurant in London by
conducting primary and secondary research with methodologies to support the study.
TASK 1
1.1 A plan for the collection of primary and secondary data
In order to collect information, there are many ways which can be utilised for the same so
as to have proper collection. These ways help in the ascertainment of proper results so as to gain
relevant information on which researcher conduct appropriate investigation in relation to collect
data (Ferrell, 2015). As Food for Friends is aiming to expand its business in the areas of London,
UK, in that case, it has to collect data from population which is present there so as to know the
tastes and preferences. There are several methods which can be implemented for taking
beneficial decision in order to get data and these are explained as below: Questionnaire: Company can utilize this method by forming formal questions which are
summarised on a sheet of paper representing information which has to be collected by the
people as they answer them. In order to have effectiveness in this method, questionnaire
must be prepared properly so that data can be collected properly according to the needs. Feedback Forms: These are forms which are prepared in such a manner that people give
their views with regard to services which are provided to them. This helps in knowing
whether the customers like services of restaurant or not.
 Personal Observation: There are many experts like auditors and researchers which can
be appointed for observing the market and trends personally so as to gain proper
information.
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In order to gain specific information for the same, Food for Friends can adopt the
questionnaire method which will support in getting the knowledge of tastes and preferences of
people in London with regard to hotels and restaurants (Ford, 2013). This is the most suitable
method for obtaining accurate data but the questionnaire has to be planned and made in a proper
way so as to obtain success in the same method (Food for Friends, 2017). For example the
questionnaire must have:
 What are the likes and dislikes of people in LONDON?
 Food preferences
 How many already operating firms are there in the same business?
 What kind of food is eaten there i.e. vegetarian or non-vegetarian?
 What is the age?
 How often you visit to restaurants?
1.2 Survey methodology & sampling frame
Survey methodology is a principle which consists of many methods which used by an
individual at the time of collecting relevant information for the research. When a research is
conducted via questionnaires then there is a huge requirement of choosing relevant people who
will fill them. Sampling frames aim at surveying by considering various factors which are listed
as follows:
Population:
These are the people who are present in universe from which sample of information has
to be taken (Groebner, 2011). Some of the people from this are chosen who represent whole slot
of people who are there in the population as a researcher can't reach each one of them at a single
point of time. These help in gaining information which is necessary.
Sample frame:
The people who are chosen for conducting the survey are categorised under this subset.
They are one by whom questionnaires will be filled which will help company to gain information
for further expansion of business in London, UK. In other words, they are the people who are
randomly chosen for conducting survey for the research that is done to know expansion
possibilities.
There are two methods of sampling probability and non-probability which help in
knowing the chances of happening and misshaping of anything. In probability sampling, the data
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is collected from indigenous people who are there in the city. Non-probability sampling can
work out even when there is no sample frame (Hartman, 2014). In this research probability
sampling has been taken to conduct the research for knowing choices with regard to restaurant
habits in London for expansion of Food for Friends.
1.3 Questionnaire
For conducting a survey, following is the questionnaire which is to be used by Food for
Friends in order to gain proper information:
QUESTIONNAIRE
NAME:
AGE:
SEX:
Q1. Are you a non-vegetarian?
a) Yes
b) No
Q2. Do you visit restaurants?
a) Often
b) Very Often
c) Daily
Q3. How often do you visit the restaurants?
a) Daily
b) On Weekends
Q4. What do you like most in restaurants?
a) Ambience
b) Food
c) Service
d) Hospitality
Q.5 Is the environment in hotels of London appropriate?
a) Yes
b) No
Q6. Is there any improvement required in the food culture of London?
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a) Yes
b) No
Q7. Is the behaviour of people in restaurants good?
a) Yes
b) No
Q8. Do you get time to spend time in restaurants?
a) Yes
b) No
Q9. Does the services provided in food ventures are good?
a) Yes
b) No
Q10. Is there any requirement to build attractive ambience for restaurant?
a) Yes
b) No
2.1 Collection of data and summarisation of collected data
London is a very vast city with a population of many people who are residing in it as it is
beautiful and developed area of United Kingdom. Food for friends wants to expand its business
in the country for which it has to take reviews from various people in order to have an idea of
development of venture in the same city. There are people residing in London amongst whom
major category belongs to non-vegetarians so, restaurant can hit these things for preparing food
and targeting the market (Kimmel, 2010). Mostly people visit to restaurant on regular basis are
more as compared to those who visit sometimes. This signifies that company render good quality
services for procuring more and more users. At the time of weekend, sales of Food for friends is
high because this time is of family visit. Food is the major priority of people when it comes to
visits to restaurants after that services is what matters most to the people ambience also needs to
be attractive according to most of the people.
The environment of the already existing edifice is very good according to most of the
respondents but some of them do not feel they are appropriate which can be taken as an
opportunity by Food for friends to designs its environment for attracting those people. The
change in food culture and not changing the food culture are on the same sides there can be a
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change and there cannot be (Kimmel, 2010). The behaviour of people is not good in restaurants
of London which have to be taken into account by Food for friends in order to capture the
market. The people who get time to spend in food corners are less as well as services is taken
into account at a prior notice with a good ambience which is attractive and soothing. Hence, it is
being recommended that food for friends must make the restaurant attractive and good according
to food culture of London that is mostly non vegan.
2.2 Conclusion and recommendations
The formula for calculating the mean, median and mode for the frequency table is
described as follow:
Mean: Addition of total number of frequency/ total number of frequency
Median: {(n + 1) ÷ 2}th value
Mode: It is the most repetitive value of frequency table
Q1. Are you a non-vegetarian?
a) Yes
b) No
a b
35 15
Mean: 25
Median: 25
Mode: #VALUE!
Q2. Do you visit restaurants?
a) Often
b) Very Often
c) Daily
a b c
33 10 7
Mean: 16.6666666667
5

Median: 10
Mode: #VALUE!
Q3. How often do you visit the restaurants?
a) Daily
b) On Weekends
a b
18 32
Mean: 25
Median: 25
Mode: #VALUE!
Q4. What do you like most in restaurants?
a) Ambience
b) Food
c) Service
d) Hospitality
a b c d
12 18 13 7
Mean: 12.5
Median: 12.5
Mode: #VALUE!
Q.5 Is the environment in hotels of London appropriate?
a) Yes
b) No
a b
32 18
6

Mean: 25
Median: 25
Mode: #VALUE!
Q6. Is there any improvement required in the food culture of London?
a) Yes
b) No
a b
26 24
Mean: 25
Median: 25
Mode: #VALUE!
Q7. Is the behaviour of the people in restaurants good?
a) Yes
b) No
a b
20 30
Mean: 25
Median: 25
Mode: #VALUE!
Q8. Do you get time to spend time in restaurants?
a) Yes
b) No
a b
20 30
Mean: 25
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Median: 25
Mode: #VALUE!
Q9. Does the services provided in food ventures are good?
a) Yes
b) No
a b
35 15
Mean: 25
Median: 25
Mode: #VALUE!
Q10. Is there any requirement to build attractive ambience for restaurant?
a) Yes
b) No
a b
40 10
Mean: 25
Median: 25
Mode: #VALUE!
2.3 Standard deviation, quartile, percentiles and the correlation coefficient
Formula for standard deviation:
Q1. Are you a non-vegetarian?
YES NO
35 15
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Standard
deviation
14.14
Quartile 20 25 30 35
Percentile 20 25 28.33 35
Q2. Do you visit restaurants?
OFTEN VERY OFTEN DAILY
33 10 7
Standard
deviation
14.22
Quartile 8.5 10 21.5 33
Percentile 8.5 10 21.5 33
Q3. How often do you visit the restaurants?
DAILY ON WEEKENDS
18 32
Standard
deviation
9.9
Quartile 21.5 25 28.5 32
Percentile 21.5 25 28.5 32
Q4. What do you like most in restaurants?
AMBIENCE FOOD SERVICE HOSPITALITY
12 18 13 7
9

Standard
deviation
4.51
Quartile 10.75 12.5 14.25 18
Percentile 10.75 12.5 14.25 18
Q.5 Is the environment hotels in London is appropriate?
YES NO
32 18
Standard
deviation
9.9
Quartile 21.5 25 28.5 32
Percentile 21.5 25 28.5 32
Q6. Is there any improvement required in the food culture of London?
YES NO
26 24
Standard
deviation
1.41
Quartile 24.5 25 25.5 26
Percentile 24.5 25 25.5 26
Q7. Is the behaviour of the people in restaurants is good?
YES NO
20 30
10