Business Decision Making Report: Food and Friends - London Expansion

This report provides a comprehensive analysis of business decision-making processes, specifically focusing on the expansion plan of Food and Friends restaurant in London. It begins with an introduction to business decision-making and its importance in organizational growth, followed by the creation of a business expansion plan, survey methodology, and questionnaire design to gather customer insights. The report then delves into data analysis, including representative values, measures of dispersion, and statistical methods to draw valid conclusions. Furthermore, it explores graphical representations, trend lines, and business presentation techniques for forecasting information. Finally, it covers the use of information processing tools, project planning, and financial tools for decision-making, culminating in a formal business report. The report uses a variety of methods, including surveys, statistical analysis, and financial modeling, to assess the feasibility and potential success of the expansion. It provides a detailed overview of the research methodology, data analysis, and findings, offering valuable insights for business professionals and students alike. This report also highlights the use of various software and techniques to disseminate information effectively.

BUSINESS DECISION MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Create a business expansion plan..........................................................................................1
1.2 Present the survey methodology...........................................................................................2
1.3 Framing questionnaire subject to business problem.............................................................3
TASK 2............................................................................................................................................4
2.1 Creating information for decision making by summarising data using representative value
.....................................................................................................................................................4
2.2 Results to draw valid conclusion in a business context........................................................6
2.3 Analyse the data using measures of dispersion to inform a given business..........................7
2.4 Analysis with statistical methods..........................................................................................8
TASK 3............................................................................................................................................8
3.1 Graphical representation of forecasting business information..............................................8
3.2 Trend line to assist the forecasting information..................................................................13
3.3 Business presentation with using suitable software and techniques to disseminate
information................................................................................................................................14
3.4 Formal business report........................................................................................................14
TASK 4..........................................................................................................................................15
4.1 Use of information processing tool.....................................................................................15
4.2 Framing a project plan and activity diagram.......................................................................16
4.3 Use of financial tools for decision making.........................................................................17
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Business decision making is the main factor which is mainly associated with analysing
the scope of exploring the business at next level. Business decision is the only concept which
helps to define the concept of making the business plan of organisation in terms of explore the
existing business (Tzeng and Huang, 2011). It is imperative to give exact data and points of
interest to examine the future patterns and pattern lines. This is the procedure which stays
successful according to chief's point of view. Utilization of programming produced data and
examination of results to settle on choices and techniques are characterized in this setting also.
TASK 1
1.1 Create a business expansion plan
Business basic leadership is one of the significant perspectives which is being utilized as
a part of hierarchical setting to enhance and quicken the business tasks at next level.
Achievement and development of an association relies on different factors, for example,
structure, condition, point and destinations and in addition mission and vision articulations. It is
one of the essential aspect in terms of measuring the business plan and expansion plan.
Secondary: This is one of the practical wellsprings of gathering data. Information and
data are taken from connected research and as of now explore subjects. Magazines, daily papers,
past numerical information and data are the primary sources utilized by directors previously.
Research: The information and data which is gathered in this strategy is basically
dissected and checked on. This technique is thought to be more sensible and pragmatic.
Customers and clients get specifically conveyed subject to issues and issues. There is rank given
to the inputs and surveys in regard of issues and subjects. Very much organized estimation
devices are utilized to examine the reasoning of individuals appropriately (Saaty and Peniwati,
2013).
Questionnaire: This is known as a test or correspondence process with numerous
choices subjected to questions. In this above situation, the supervisors need to rebuild and
investigate eatery network of Food and friends. Survey submitted to customers and clients every
one of the appropriate responses should be filled by them for exact basic leadership.
Public opinion polls: This is considered as one of the least demanding strategies to pick
up data and information identified with issues and subjects. A pooling technique is utilized with
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the assistance of testing information from cross segment. To gathering most extreme answers
greatest support of open is required.
Primary data: This kind of information is considered as the chief wellspring of
information accumulation. Immaterial data and information remain aside separated from the
while gathering the data from prime sources. Essential information is gathered by immediate and
individual association or the examination field at work. Decision making has turned out to be
more solid with the data gathered from essential sources.
1.2 Present the survey methodology
Food and Friends needs to investigate new business chain in London. With a specific end
goal to get exact data and information, supervisors need to examine and assess the data. There
are some arrangement of approaches and methods should have been utilized for deliberate
activities and arrangements of issues. There are research methodologies are defined in respect of
analysing the information.
Sampling Framing: with a specific end goal to accomplish positive perspectives and
data shape clients and customers are done in inspecting surrounding. This gets the positive
viewpoints and results from the ensembles and customers (Saaty and Peniwati, 2013).
Random Sampling: There are number of gathering of individuals considered in inquire
about. This instruments is viewed as valuable subject to investigating the basic circumstance
(Nooraie, 2012). This is likewise one of the prominent examining strategies which help to decide
the adequacy of research. Quantity, Cluster and stratified are additionally inspecting methods
that are utilized to break down the data. In the above research there are 80 respondents are taken
from add up to populace.
Qualitative and quantitative: There are some measurable devices used to get numeric
outcomes and data. This is one of the estimation procedures which is utilized to break down the
subject from all the conceivable ways. Add up to estimation of information gathering and
approaches are legitimately utilized as a part of subjective and quantitative investigation.
Exploratory research: it is a piece of investigating the overview technique. Close
answers and the related viewpoints are taken in contemplations subject to investigate questions.
This is one of the vital strategies which thinks about and examine point and goal of association.
Descriptive research: Analytical research helps to identify the key facts in respect of
business problems and issues. It is a type of research in which contains structured study and
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survey to identify the actual facts remain associated with the project. It is considered as a
fundamental research in which practical overview and practices are done to determine the
accurate information and data (Routledge.Sinha and Labi, 2011).
1.3 Framing questionnaire subject to business problem
Analysis of expansion plan for Food and Friends restaurant
QUESTIONNAIRE
Name:
Age:
Gender:
Occupation:
Q1: Is idea of new development is noteworthy?
(a) Yes
(b) No
Q2: Whether the proposition have the capacity to pick up client reaction?
(a) Yes
(b) No
(c) Neutral response
Q3: what is your viewpoint in regard of evaluating arrangement of Food and Friends?
(a) High
(b) Low
(c) Moderate
Q4: What sort of dishes you like more in Food and Friends eatery?
(a) Thai
(b) Chinese
(c) Italian
(d) Other
Q5: What are the influencing factors which draws in additional to the customers?
(a) Environment
(b) Multiple-cuisine
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(c) Hospitality
Q6: Do you need to add changes identified with neighbourliness?
(a) Yes
(b) No
Q7: Is the standard of cookery tasteful?
(a) Yes
(b) No
Q8: Do you concur that Food and Friends can pull in clients?
(a) Yes
(b) No
(c) Neutral response
Q9: At which area, new eatery ought to be found?
(a) Country side
(b) Prime location
(c) Shopping Mall
(d) Other
Q10: What are your perspectives, proposals and criticisms in regard of proposed plans?
Ans.
TASK 2
2.1 Creating information for decision making by summarising data using representative value
Q1: Is idea of new development is noteworthy?
Particular Respondent in %
(a): Yes 70
(b): No 30
Total 100
Mean 50
Median 50
Mode 10
4

Q2: Whether the proposition have the capacity to pick up client reaction?
Particular Respondent in %
(a): Yes 65
(b): No 25
(c): Neutral
Response 10
Total 100
Mean 33.33
Median 25
Mode 5
Q3: what is your viewpoint in regard of evaluating arrangement of Food and Friends?
Particular Respondent in %
(a): High 25
(b): Low 30
(c):
Moderate 45
Total 100
Mean 33.33
Median 30
Mode 25
Q4: What sort of dishes you like more in Food and Friends eatery?
Particular Respondent in %
(a): Italian 29
(b): Thai 46
(c): Chinese 10
(d): Other 15
Total 100
Mean 25
Median 22
5

Mode 14
Q5: What are the influencing factors which draws in additional to the customers?
Particular Respondent in %
(a): Environment 40
(b): Multi cuisine 38
(c): Hospitality 22
Total 100
Mean 33.3333333333
Median 38
Mode 18
Q6: Do you need to add changes identified with neighbourliness?
Particular Respondent in %
Yes 58
No 42
Total 100
Mean 50
Median 50
Mode 16
Q7: Is the standard of cookery tasteful?
Particular Respondent in %
Yes 68
No 32
Total 100
Mean 50
Median 50
Mode 4
Q8: Do you concur that Food and Friends can pull in clients?
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Particular
Respondent in
%
(a): Yes 68
(b): No 20
(c): Neutral response 10
Total 98
Mean 32.66
Median 20
Mode 8
Q9: At which area, new eatery ought to be found?
Particular Respondent in %
Country side 42
Shopping mall 23
Prime location 18
Other 17
Total 100
Mean 25
Median 20.5
Mode 8
2.2 Results to draw valid conclusion in a business context
Year Sales (£) Net Profit (£)
2008 2500 1250
2009 2560 1280
2010 2600 1300
2011 2650 1325
2012 2690 1345
2013 2700 1350
2014 2760 1380
2015 2800 1400
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2016 2850 1425
2017 2940 1470
Mean 2705 1352.5
Median 2695 1347.5
Mode 2500 1250
Mean: it is mainly considered as an average value which remain associated with
analysing the mean value (Mean, Median, Mode and Range. 2017). As per above analysis the
mean was calculated as £2705 for sales and £1352.5 for profit.
Mean: ∑X/N
Mode: this is a value which define the most frequent value come form sample. As per
above given scenario the mode of sales was evaluated as £2500 and profit was calculated as
£1250
Mode: L + h ( fm – f1 / 2fm – f1 - f2 )
Median: this is considered as a value between two middle value in terms of lower range
and upper range (Pourshahid, Richards and Amyot, 2011). In above calculation the range was
calculated as £2925 for sales and £1635 for profit. It is calculated by following formula:
Median: [L1 + (N/2) – c/F*i]
2.3 Analyse the data using measures of dispersion to inform a given business
Year Sales (£) Net Profit (£)
2008 2500 1250
2009 2560 1280
2010 2600 1300
2011 2650 1325
2012 2690 1345
2013 2700 1350
2014 2760 1380
2015 2800 1400
2016 2850 1425
2017 2940 1470
Minimum 2500 1250
Maximum 2940 1470
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Standard deviation 135.66 67.88
Coefficient correlation 1
Range: It is fundamentally used to break down the impact of variety from upper and
lower limits for a particular scale. It is considered as a typical number which identified with a
similar kind and nature (Kacprzyk and Fedrizzi, 2012).
Standard deviation: It stay assorted from one mean estimation of the gathering to
another. It is considered as a whole amount which characterizes the aggregate part in a gathering.
An expansive standard deviation esteem demonstrates values separated from the mean esteem.
According to the above count of offers and net benefit records of Food and friends standard
deviation is ascertained as 135.66 for deals and 67.88.
STDV= √∑Fdx2/N – (∑Fdx/N)2
Variance: this is viewed as one of the imperative part while figuring standard deviation
(Yang and et. al., 2011). It is figured according to following equation, for example,
Variances = S2 = ∑(X – X )2/n-1
2.4 Analysis with statistical methods
Correlation coefficient: this is considered as a numeric value which indicates the
meaning a statistical between two variables (Sethi and Zhang, 2012). In any case, it has been
broke down the correct and point by point form of conclusion can't get uncovered by
informational collections which are accessible.
Quartile: Precise estimations of reaches and percentile can be discover by this as it gives
mid half terms (Rothman, 2017).
Percentile: this is the measurement tool which helps to determine the intermediate value
which can be bifurcated in separate parts.
TASK 3
3.1 Graphical representation of forecasting business information
Q1: Is idea of new development is noteworthy?
9

Q2: Whether the proposition have the capacity to pick up client reaction?
Q3: what is your viewpoint in regard of evaluating arrangement of Food and Friends?
10
(a): Yes (b): No
0
10
20
30
40
50
60
70
80
70
30
Respondent in %
(a): Yes
(b): No
(c): Neutral Response
0
10
20
30
40
50
60
70 65
25
10
Column G