Business Decision Making Project: Analyzing Food For Friends Expansion

This project examines the business decision-making process for Food For Friends, focusing on the potential expansion of a new restaurant chain in London. It encompasses a detailed plan for collecting both primary and secondary data, including survey methodology, sampling frames, and questionnaire design. The project emphasizes data analysis, including representative value, dispersion measures, and correlation coefficients to draw valid conclusions. Furthermore, it involves the creation of graphs, charts, and trend lines to summarize information and determine future aspects. The final deliverables include a business presentation and a formal business report, utilizing appropriate information processing and financial tools. The project aims to provide actionable insights for informed decision-making regarding the restaurant's expansion, covering market research, customer preferences, and financial considerations.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for collecting information through primary and secondary source for business
problem.......................................................................................................................................1
1.2 Present the survey methodology and sampling frame used..................................................2
1.3 Questionnaire designing for define business problem..........................................................2
TASK 2............................................................................................................................................4
2.1 Create information for decision making by summarising data representative value............4
2.2 Analyse the results to draw valid conclusion for business....................................................5
2.3 Analyse data using measure of dispersion for related business problem..............................6
2.4 Use of quartile and correlation coefficient for better decision making.................................7
TASK 3............................................................................................................................................8
3.1 Creation of graphs and charts for summarising information................................................8
3.2 Creation of trend lines for determine future aspects and attribute........................................9
3.3 Business presentation for evaluating things........................................................................10
3.4 Produce a formal business report........................................................................................10
TASK 4..........................................................................................................................................10
4.1 Use of appropriate information processing tool..................................................................10
4.2 Prepare a project plan and determine critical path system..................................................11
4.3 Use of financial tools for decision making.........................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Choices are a best piece of business on which directors need to made their sharp core
interest. At whatever point any sort of adjustment or development related task used to occur in a
firm then administration need to adjust their better and powerful working with the goal that odds
of inferring useful result could wind up conceivable (Baker, 2018). Along these lines, a business
could end up ready to manage at showcase world for long stretch obviously when they used to
comprehend and evaluated every last thought appropriately and better. This task depends on
business basic leadership of Food For Friends whom need to open another chain of eatery in
London. This task will going to incorporate about different wellsprings of information gathering
with the goal that a superior and suitable comprehension could occur. It is additionally basic to
break down the information appropriately by using reasonable strategy. Accordingly, different
apparatuses and methods for breaking down result likewise get comprehend with this task. In
spite of the fact that, supervisors need to use the product created data better through which long
haul thought could end up conceivable.
TASK 1
1.1 Plan for collecting information through primary and secondary source for business problem
At whatever point any sort of future related venture used to happen, administrators of an
organization need to make better and characterize design nature with the goal that all things went
well (Ford and Richardson, 2013). This will empower business to achieve their objectives in a
distinct casing with the goal that viability and proficiency in working could be oversee.
Nourishment For Friends need to extend their working for which they have to gather data from
different number of respondents. In this thought, they will counsel with essential and auxiliary
wellspring of data so extension used to occur in better and recognize way. Primary source: Sometimes, crude and characterize data is basic for business with the
goal that more qualified development could be reflected to business and working.
Essential data is such nature of edge which could be decide through poll overview,
individual meeting and so on. Every one of these angles empower in scatter information
appropriately with the goal that viable and effective working choices should be possible.
 Secondary source: These are such kind of data which are as of now used to happen.
These could be as far as benefit of an organization statistics and so on. As of now sort out
review reports empower in better basic leadership without arranging own.
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Certain number of things which used to include about the manager of a FFF while
organising this primary study survey are define and describe as follow and work in a proper
plan framework as well:
 Time period: The duration of this study is all about 1 month so that appropriate data
could be gather in better manner.
 Objective: A major consideration behind organising this study is just to determine
taste and preference of customers so that new restaurant could be open properly and
in better manner as well.
 Type of data: This study will going to include about the primary kind of data so that
personal opinion and viewpoints will going to include so that effective and efficient
gain could become possible.
 Location: It get organise on London where one restaurant already properly
establish and then new could be open in better and in determined manner of
reference
 Sample size: The random sampling method will going to utilise in order to gather
various individuals’ opinion properly. Selected respondent for this project are 80
which reduce chances of duplication and better outcome could be provided.
 Method: This study get done and execute with questionnaire survey. This method
facilitate FFF to evaluate and include various individuals’ aspect and opinion in
better manner.
 Expectations: Expected return will might be positive just because food for friends
deliver high quality standard products and services. Hence, this project might
become successful in terms of the clients.
1.2 Present the survey methodology and sampling frame used
Reviews are a centre piece of business which need to comprehend by business directors
legitimately so better and proficient pick up could be reflected (García-Peñalvo and Conde,
2014). There are different sorts of review system could be pick by Food For Friends in their
working through which better and productive increases could be reflected:
1. Questionnaire: One of a noteworthy sort of review is survey under which different
inquiries could be reflected by a respondent from target person. This overview empower
in characterizing better and implied result in nature of casing.
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2. Individual Interview: Another review strategy which encourage in characterizing an
individual point of view is close to home meeting. This overview empower in decide an
individual conclusion and point of view better with the goal that helpful result could be
pick up so adequacy and productivity could be keep up and oversee.
FFF would run with poll review, which empower and bolster them to outlining the things
better and successful in nature. In addition, for a poll overview, it is vital to counsel with some
number of inspecting apparatus also. Testing have certain sorts of edges which characterize and
connote as take after: Random Sampling: An arbitrary testing is such system or instrument which empower to
choose such respondents whom don't have any sort of obstruction with each other
(Laudon and Laudon, 2015). It is extremely fundamental to comprehend and select such
respondents with the goal that odds of picking up and determining better result could
wind up conceivable. Cluster Sampling: Under this technique, all individual get isolated into fitting gatherings,
sets and subsets with the goal that a superior and characterize think about used to occur.
Group inspecting is useful so as to decide the better and successful result through which
adequacy and proficiency could be keep up and oversee.
 Observation: Another kind of method of sampling which could estimate by individual of
study would be observation. Here, various aspects could be observe on the basis of define
things. Observation not always provide better and define outcome where as it could
enable in analyse an individual behaviour properly.
This project of food for friends where they want to determine opinion of their customers
properly for new chain will include questionnaire survey. This method enable them to
interact more number of customers where viewpoints and chances of deriving better and
efficient outcome could become possible. Along with this, sampling method for this study
will be random sampling method which enable in gaining better results. This simplify that all
customers and target respondent do not have any kind of related aspects with each other.
1.3 Questionnaire designing for define business problem
A questionnaire is a frame in which an arrangement of inquiries get accommodated
sorting out an overview with the goal that helpful result could be drawn. There are various types
of questionnaire get evaluated which enable and support in gaining responses from various
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respondents. All such kind of framework required to include in questionnaire survey so that
better and beneficial outcome could be gain in long period of course. Following are certain kind
of questionnaire which could determine while organising study on food for friends so that
beneficial and effective gain could become possible and gain:
 Open ended questions
 Close ended questions
 Mixed questions
 Pictorial questions
Mainly for this project mixed questionnaire get included because it enables and support
in defining things better. This kind of questionnaire will used to include about ratings, yes
and no options. Agree, disagree etc. kind of options as well. This result in providing variety
so that providing response could become possible in nature for deriving beneficial and
effective gain in nature of frame for Food for friends.
For this task which depends on FFF, there are for the most part 10 questions prompt out
in survey which get sort out on 80 respondents (clients) of eatery with the goal that
administrations get made strides. This will help with giving valuable pick up to an organization
which additionally empower in seeming well and good towards venture working. The following
is a poll for Food For Friends which empower them in breaking down parts of clients with
respect to taste, quality, highlights, conveniences and so on.
QUESTIONNAIRE
Name:
Age:
Gender:
Q1. Does the quality met with define frame of standard or not?
a) Yes
b) No
Q2. Does there is any kind of deviation found in working and operations?
a) Yes
b) No
Q3. State which price category you belong to?
a) More than €13
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b) Between €14 to €56
c) More than €60
Q4. Does the amenities reflect a heal of satisfaction to you?
a) Agree
b) Disagree
Q5. Which is the most convenient location for new restaurant chain?
a) Sea beach
b) Rooftop
Q6. State about the modification which you want to implement in restaurant?
a) Completely Hotel
b) Cafe
c) Partly restaurant partly hotel
Q7. Do you want that products really need to expand?
a) Yes
b) No
Q8. Whom are the major competitors of FFF?
a) Zizzy
b) Cafe De Ostro
Q9. Do you think new project will going to support business in order to manage efficiency?
a) Yes
b) No
Q10. Any further suggestion or recommendations?
TASK 2
2.1 Create information for decision making by summarising data representative value
Data or information need to make in better and steady way based on review with the goal
that basic leadership process for a worry could wind up conceivable (Maxwell, Jeffrey and
Lévesque, 2011). At whatever point judgement or choice required for a worry, there is a need to
execute reasonable qualities based on assemble data. This will empower in choosing that things
went well or not. Beneath made data worry with assessment and point of view of different clients
of Food For Friends so better and want result could be pick up. This will help administration to
draw a powerful judgement through which opening of new eatery could end up conceivable. A
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data is mainly of two kinds either they are grouped ones or ungrouped data. It is really essential
to determine kind of data and information properly so that better and determine outcome could
be source. Thus, for the data wehich going to gather for Food For Friends will be grouped one
where all information include and disseminate at one place. This enable and support in
understanding aspects and factors better and in supportive manner so that derivative outcome
could be gain in order to define better and supportive outcome in reference of frame.
This outcome depends on poll overview on 80 respondents of Food For Friends with the
goal that a superior comprehension of the undertaking could complete. This will bring about
distinguishing different open doors for business with the goal that helpful evaluation of
organization items used to occur in a superior casing:
Ratings R1 R2 R3
1 50 30
2 25 55
3 25 35 20
4 47 33
5 52 28
6 27 3 50
7 48 32
8 55 25
9 60 20
On the basis of this provided information, quality of products are appropriate and
effective in nature whose reflection could be found in less deviation of project. Along with this,
business need to craft a lower price of their products which can be afford by every group of
customer. This will enable in defining things better and suitable in nature so that chances of
defining beneficial gain could become responsive. A complete heal of satisfaction could be
estimated and provided by each target individual which support management to easily expand
their operations. The new restaurant signify location would be near to sea beach for a complete
date or trip. On the basis of this calculated data, it get evaluated that products of a company have
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higher expansion perspective because they are good in quality standard. Along with this, they
used to start operating near to river which further enable in deciding that things went well and
have a definite course of frame to accomplish business objectives proper and better.
Ratings R1 R2 R3 Mean Median Mode
1 50 30 40 40 #VALUE!
2 25 55 40 40 #VALUE!
3 25 35 20
26.6666666
667 25 #VALUE!
4 47 33 40 40 #VALUE!
5 52 28 40 40 #VALUE!
6 27 3 50
26.6666666
667 27 #VALUE!
7 48 32 40 40 #VALUE!
8 55 25 40 40 #VALUE!
9 60 20 40 40 #VALUE!
2.2 Analyse the results to draw valid conclusion for business Mean: Mean is define as an average of a series so that it will enable in decision making
process (Pettigrew, 2014). An average represent the value of series as a whole so that
better and appropriate understanding used to take place in a define manner. Mean is
define as an average of data which get determine and calculated by adding all values and
divide it by number of options. This will provide an average of a series so that a better
understanding could get done. This will result in identifying an average of series so that
effective and efficient outcome could be gain. Median: This associated with middle value of the series so that a complete frequency
could be distributed into two frames (Popovič and et. al., 2012). This will enable in
assessing that things went well or not so that better and effective understanding used to
take place. Median is a middle value of the series which get calculated by adding higher
frequency with smaller one and divide it by two. This will provide a mid-value of the
series so that chances of deriving beneficial aspect from the whole series could become
possible. With variation chances of differ number of mid values are more but in respect to
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similar kind of values like in presented table it could gave similar kind of result. The
determine median of series is 40 which stated this is a mid-value of the table.
 Mode: It describe as most repetitive value of the table which made a vast influence on
actual values so that a better and supportive understanding of similar frame of individuals
could be assess better. Mode is most repetitive value of a series which arise and occur
again and again in a series. This enable and support in defining similar kind of values and
aspects of certain individuals. Such respondents have similar attribute and aspects which
enable and support in defining things better and in effective manner. It is really important
to determine mode of a series so that better outcome could be drawn. This assess with
highest value or frequency whom have more interference on table.
On the basis of this organise study, each and every consideration become easy to understand
by using and working on mean, median and mode. This get done in a better and definite manner
so that better influences could get done.
1. Food For friends delivered a best quality standard products and services which used to
meet with optimum level of derivation always. This signify that their products have better
standard and provide optimum satisfaction as well.
2. Second thing, number of deviations are less in their working and operations so that
effectiveness and efficiency get maintain and manage for long period of course.
3. Products prices are moderate which simplify that each and every kind of consumer easily
used to consume that so that definite return could be gain.
4. Food For friends provide better environment so that a heal of satisfaction could be
provided. This enable and support in providing better standard products which further
enable in attract vast range of customers currently and in near future of course as well.
5. Although, for a new chain of Food for Friends, it is really essential for them to determine
better and appropriate location. It is really essential to choose such place which enable
and support in attracting more number of customers. Here, first thing which get identify
is sea or river associated location.
6. Respondent of Food For Friends stated that modification could be in form of partly hotel
and partly restaurant. This will support in providing and delivering better quality standard
products and services so that more appropriate satisfaction could be determine in long
period of course.
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7. Most number of individuals stated that products range and variety need to expand
properly. It is really essential for Food for Friends to expand their products range and
varieties. This will enable and support them to gain better market place in long period of
course.
8. Zizzy are one of a most define rivalry of food For Friends. It is really important to
produce such kind of products and services which made them differ from Zizzy in order
to gain determine outcome in nature of frame.
9. This new project will bring appropriate working towards Food for Friends so that
appropriate consideration could be drawn in long period of course. Hence, chances of
sustainability are more in nature which enable in providing suitable gains.
2.3 Analyse data using measure of dispersion for related business problem
Another section which present value and enable business to conclude better and
determined results is measure of dispersion (Power, Sharda and Burstein, 2015). Here, study
enable in deciding about variances and deviations used to take place for a series. Below is a data
which completely concern with standard deviation and variances for Food For Friends so that
distance of value from average range could be estimated as well as variances and variation arise
in a series could be evaluated so that effective gain could become possible.
Ratings R1 R2 R3
Standard
Deviation Variances
1 50 30
14.1421356
237 200
2 25 55
21.2132034
356 450
3 25 35 20
7.63762615
83
58.3333333
333
4 47 33
9.89949493
66 98
5 52 28
16.9705627
485 288
6 27 3 50
23.5017729
828
552.333333
3333
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7 48 32
11.3137084
99 128
8 55 25
21.2132034
356 450
9 60 20
28.2842712
475 800
Standard Deviation: It define for the deviation which arise and define about distance of
average from the mean value of a series. It is essential to understand about standard deviation of
a project so that beneficial outcome could be drawn.
Variances: Variances are depict as variations which estimated for a series so that
beneficial and analysing outcome could be drawn.
As per the provided project, major competitors of a company is Zizzy which might
impacted their work most. Along with this, less number of deviation arise in the project which
stated that there is an effectiveness and efficiency could be reflected.
2.4 Use of quartile and correlation coefficient for better decision making Quartile: It is a four equivalent gatherings section under which entire populace is isolated
appropriately (Vercellis, 2011). It is useful in dissecting viewpoint of different
individuals at each level and a noteworthy contrast between each other. Sustenance for
companions need to examine every one of the four quartile with the goal that they end up
ready to recognize odds of achievement at each level. Correlation coefficient: It is basic for an association to decide the direct bury conditions
of two factors. Qualities must be in the middle of +1 and - 1 and if result is more than or
not as much as this, such qualities are not worthy. In each recurrence information two
factors are reliant upon each other.
Ratings R1 R2 R3
Correlation
coefficient
1 50 30 -1
Quality with
effectivenes
s in project
working
2 25 55
10