Higher Nationals Diploma Business Decision Making Assignment Report

This report focuses on business decision-making, emphasizing the use of data and information for effective management strategies. It covers data collection methods, including surveys, and explores the relationship between advertisement expenses and sales through graphical representations. The report presents a graph and trend line analysis to forecast future profitability and efficiency. Key topics include the importance of data analysis, trend line usage, and the application of social media for advertisement. It references relevant academic sources to support the concepts discussed. The report aims to provide a comprehensive overview of data-driven decision-making in a business context, assisting in strategic planning and operational improvements. The report covers topics like data collection, analysis, and the application of trend lines for future forecasting. It also shows the relationship between advertisement expenses and sales. The report concludes by referencing various academic sources to support the concepts discussed.

TASK 3
Business Decision
Making

Content
 Introduction
 Decision and graphs
 References

Introduction
 For any business it is compulsory for management to u
se data and information which is related to their operati
on in taking effective decisions.
 For taking a decision, entities conduct a survey on diffe
rent number of population for producing goods and ser
vices.
 There are various kinds of survey methods used by a c
ompany in implementing a powerful strategy for comp
any.

Decision and graphs
 Advertisement expenses have to control by the
management.
 Sales is getting increase day by day and for this
revolutionary technique have to get in account.
 Use social media as a platform for advertisement in relation
to increase more and more users.

Continue...
Graph showing advertisement and sales
2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1000
2000
3000
4000
5000
6000
1200 1400 1500
1800
2200 2300
2600
3000 3100 3300
3650 3800
4300
4870
220 260 320 360 420 500 540
780 900 940 1000 1040 1120 1190
Advertisement
Sales

Continue...
 Advertisement expenses and sales graph present that in nea
r future company will lead to attain more and more profit.
 This work them in improving their efficiency and increase t
heir profitability.

Trend line
2000 2002 2004 2006 2008 2010 2012 2014 2016
0
1000
2000
3000
4000
5000
6000
1200
14001500
1800
22002300
2600
30003100
3300
36503800
4300
4870
2202603203604205005407809009401000104011201190
f(x) = 267.164835164835 x − 533813.428571429
R² = 0.984431300484568
f(x) = 81.4725274725275 x − 162952.571428571
R² = 0.973656982303293
Advertisement
Linear (Advertisement)
Sales
Linear (Sales)

Continue...
 Trend line is helpful in future forecasting.
 Provide a brief overview which aid company in making
their operations effective.

References
Pettigrew, A.M., 2014. The politics of organizational decision-making.
Routledge.
Sikavica, P., and et. al., 2014. Business decision-making.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being
(Vol. 10). Upper Saddle River, NJ: Prentice Hall.
Stine, R. and Foster, D., 2014. Statistics for Business: Decision Making
and. Addison-Wesley SOFTWARE-JMP.