Report on Business Decision Making for Balti Palace in UK Market

This report provides a comprehensive analysis of business decision-making strategies for the expansion of Balti Palace, a UK-based restaurant. The report begins by outlining various data collection methods, including primary and secondary sources, and discusses the importance of research methodologies and sampling frameworks. It then delves into questionnaire design, providing examples and emphasizing the significance of gathering customer feedback. Task 2 focuses on data analysis, covering representative values like mean, median, and mode, along with measures of dispersion such as standard deviation and correlation coefficients. The report highlights the advantages of using quartiles, percentiles, and correlation to evaluate data effectively. Task 3 involves the production of graphs and trend lines to visualize data, which is further supported by a PPT presentation and a formal report. Finally, Task 4 explores the use of information methods systems in decision-making, network diagrams, and investment appraisal techniques, culminating in a conclusion that summarizes key findings and recommendations for Balti Palace's expansion into the London market. The report aims to provide actionable insights to support informed business decisions and ensure successful expansion.

Business Decision
Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1: Sources of data collection....................................................................................................1
1.2: Research methodologies and sampling framework.............................................................2
1.3: Questionnaire designing.......................................................................................................3
TASK 2...........................................................................................................................................4
2.1Designing data along with the help of representative values: ...............................................4
2.2 Evaluation of data:................................................................................................................5
2.3 Analysing measure of dispersion:.........................................................................................5
2.4 Advantages of using quartile, percentile and coefficient correlation: ..................................6
TASK 3............................................................................................................................................7
3.1 Produce graphs:.....................................................................................................................7
3.2 Trend line:...........................................................................................................................10
3.3 Covered in PPT...................................................................................................................11
3.4 Formal report.......................................................................................................................11
TASK 4..........................................................................................................................................12
4.1: Use of information methods system in decision-making...................................................12
4.2 Network diagram.................................................................................................................13
...................................................................................................................................................14
4.3 Investment appraisal technique:..........................................................................................15
CONCLUSION..............................................................................................................................15

INTRODUCTION
Every organisation has main objective is to earn profit and survive in competitive
environment for longer period of time and it can be possible only when the management takes an
effective business decision relating to managing various resources as well as other aspects which
brings positive result to company (Groebner and et. al., 2011). Thus it is important for company
to hire a skilled members with a motive of conducting research for them so that they can make a
crucial decision on the basis of collected information gather during research. The project covers
various information which is helpful in expanding business operation of restaurant in UK. All the
methods and techniques which is essentially required to set up a new chain is also discussed
under this report.
TASK 1
1.1: Sources of data collection
As it has been observed that the business is focusing on expanding their business
operation to large scale with the help of their new and innovative ideas. Thus an effective
decision should required to made (Ferrell and Fraedrich, 2015). The Balti Palace, a restaurant of
UK wants to expand their expand their business in different parts of London market and to
achieve such expansion they are required to conduct a research in order to collect feedbacks and
data from the people living to that specific place. For this, researchers should use collected data
from different sources. Such sources includes:
Primary data: It is considered as an effective and reliable method of collecting data as
the researcher personally reach to the customers for getting their views and suggestions. The
accuracy of the data is good which helps management to make an effective decision (Kacprzyk
and Fedrizzi, 2012). It includes various effective tools and techniques such as:
Research: It is considered as an effective and important tool which is helpful in gathering
crucial information and accordingly analyse their reviews and opinions regarding expansion of
business to different locations. With this, it has been clearly identified what the people actual
think and then analyse it properly.
Questionnaire: It includes the list of questions that need to be asked to the customers
about the opening new restaurant in the London market. In questionnaire, there are different
question with the multiple choice options which need to be filled by the customers with their
1

own thoughts, This will help in getting accurate perception of customers relating to ideas of
expansion of business.
Public opinion polls: It is kind of survey in which poll is taken through using sampling
data collected from people of different areas (Nooraie, 2012). This will help in gathering
maximum answers from targeted customers. Thereafter an effective decision should be made on
the basis of favourable response.
Secondary data: It is also one of the methods of collecting data from the available
resources through which the chances of getting accurate data and information will be low. This
method is generally used to analyse the current data with previous data outcomes in order to find
out the deviations. The researcher has various option to collect data such as articles, magazines,
newspaper and other numerical reports (Tzeng and Huang, 2011). Therefore it takes less time
and money to collect data but due to inaccuracy of data the chances of making an effective
decision will also low.
1.2: Research methodologies and sampling framework
It is important for manager to adopt right research methodologies in order to make an
effective decision regarding setting new restaurant in London (Crowfoot and Wondolleck, 2012).
It is helpful in resolving all problems and barriers which restrict managers to open new branch in
other locations. Some of the research methodologies are as follows:
Descriptive research: It is defined as a statement of affairs as they are exist at present
with the researcher having no control over control (Xu, 2015). It aims to focus on issues and
problems through collecting data through which they can identify the situations in order to make
an effective decision.
Exploratory research: It is method which is one of the important research which has
main objective to explore survey and they cannot provide to offer closing answers to a research
questions.
Quantitative and Qualitative: Under this research methodologies total measurement of
data and information which is collected from different customers are analysed properly. It can be
done through suing statistical tools. Whereas, qualitative method mainly focused on collecting
quality research done by the people.
2

Sampling framing: It is important to collect sample out of available group of customers
in order to determine the positive outcomes received from the research (March, 2013). It also
categorise into various parts:
Random sampling: This is considered as more effective techniques which is applied over
a limited number of people out of a group. It is free from bias tools which is helpful in complex
situations. The other sampling techniques are Quota, stratified, Cluster and others. In this
research, about 60 respondents are selected among large number of people. Some other aspects
which is helpful in conducting research form. These are mentioned below:
 Price they can afford to buy
 Quality in service
 Behaviour of Staff members towards them
1.3: Questionnaire designing
Research over customer experiences and their vies and opinion regarding opening new
Restaurant of Balti Palace
QUESTIONNARE
Name:
Age:
Sex:
Occupation:
Q1. What you think about opening new branch of Balti palace in London?
(a) Yes
(b) No
Q2. Are you satisfied with the prices the restaurant charged on the products and services?
(a) Yes
(b) No
Q3. Are you happy with the delivering service by our restaurant?
(a) Yes
(b) No
Q4. Which product attract you most and feel satisfied?
3

(a) Italian
(b) Thai
(c) Chinese
(d) Other
Q5. Which new products you want to add in our menu card?
Q6. Are you satisfied with the behaviour of our staff members while serving products to you?
(a) Yes
(b) No
Q7. Which location you would preferred for setting new restaurant?
(a) Country side
(b) Shopping Mall
(c) Prime location
(d) Other
Q8.
Q9.
Q10. Give your views and suggestions?
TASK 2
2.1Designing data along with the help of representative values:
For evaluating data collected from survey following described sales and profitability can
be assessed. The Balti palace current restaurant earn sales and net profits in previous years and
on the basis of these below mentioned sales and profits, company would take efficient decisions.
YEAR Sales Net
Profit
2008 4189 1256.7
2009 4299 1289.7
2010 4359 1307.7
2011 4399 1319.7
2012 4439 1331.7
2013 4658 1397.4
2014 4850 1455
4

2015 4950 1485
2016 5150 1545
2017 5280 1584
Sales Profits
Mean 4657.3 1397.19
Median 4548.5 1364.55
Mode 4189 1256.7
From the above mentioned report, sales and profits from year 2008 to 2017 which has been
provided. Via mean, median and mode, analysts would identify effective information for
rendering an effective decision. This will ultimately assist to forecast future needs for divisions
so that the exact issues identified.
2.2 Evaluation of data:
Mean: This is the average value of the set of observation. Which will help out to know
about the research process (Tzeng and Huang, 2011). As per static analysis, various number are
considered by including them together and divide total number of group. This is connected to
measure critical calculation in order to get the desired outcomes. This simply used to calculate by
using: Mean: ∑X/N.
Median: This simply refers to the middle number of the set of observation. This renders
the value of the entire variable used during the research practice that lie at 50% or above. This is
crucial to divide observation into two key parts in order to determine the accurate amount.
Median is calculated by implementing:
[L1 + (N/2) – c/F*i].
Here,
L1= Lower value of the range.
C= Cumulative frequency
F= Frequency
I= Interval
Mode: This measured as the highly repetitive number that repetitive number that are
accessible into observation (Vercellis, 2011). According to this, components are determined by
evaluating data in an effective manner. via assessing information from sales and profits of Balti
Palace is measure of central tendency is calculated. The mode is assessed by applying following
mentioned tools. Mode is assessed by using: L + h ( fm – f1 / 2fm – f1 - f2 ).
5

2.3 Analysing measure of dispersion:
YEAR Sales Net
Profit
2008 4189 1256.7
2009 4299 1289.7
2010 4359 1307.7
2011 4399 1319.7
2012 4439 1331.7
2013 4658 1397.4
2014 4850 1455
2015 4950 1485
2016 5150 1545
2017 5280 1584
Sales Profits
Standard
deviation 380.694701
Correlation
coefficient 1
Minimum
range 4189 1256.7
Maximum
range 5280 1584
Standard Deviation: This is recognised as the systematic technique which is used for the
purpose of evaluation of risk that are connected along with research. This can mostly helpful in
making reliable decisions for improving and profitability and productivity of Balti Palace.
Standard deviation: √∑Fdx2/N – (∑Fdx/N)2
2.4 Advantages of using quartile, percentile and coefficient correlation:
Quartiles and Percentile are interchangeable term for evaluating the value in linked with
quarter such as 1st, 2nd and 3rd quartile. By incorporating evaluation of performance of each
quarter is required in order to reliable conclusion. While percentile results of data set for
incorporating percentage. Henceforth, this is the crucial aspect which separate percentile and
quartile.
Particulars Sales Profits
Quartile 1 and 25th percentile 4369 1310.7
6

Quartile 2 and 50th Percentile 4548.5 1364.55
Quartile 3 and 75th percentile 4925 1477.55
Quartile: There are kind of segments which reflects the value of the set of observation.
Normally, there are three kinds of quartiles which are: Q1, Q2, Q3. Lower quartile means 25%
value of the set of observation. Lower quartile has: 4369, 1310.7, on the other hand, 2nd quartile
shows middle value of the set of observation. Here, second quartile value of sales and profits are
4548.5 and 1364.5 respectively. On the other hand, third quartile shows 75% value of the set of
observation. 4925 and 1477.55 are sales and profits 3rd quartile value.
Percentile: This is in each use, but there is no common definition for it. In this question,
25th percentile of sales and profits is 4369 and 1310.7 while on the second percentile, total sales
and total profits is 4548.5 and 1364.55 which shows an efficient strategy in order to maintain an
effective manner. While on the total sales and total profits are 4925 and 1477.55.
TASK 3
3.1 Produce graphs:
Q1. What do you think about opening new branch of Balti palace in London?
(a) Yes 55
(b) No 5
Interpretation: According to the above mentioned graph, this can be said that 55 respondents
uses their thinks that Balti palace needs to expand their operation somewhere in central London.
While 5 respondents doesn’t think so.
7

Q2. Are you satisfied with the prices the restaurant charged on the products and services?
(a) Yes 52
(b) No 8
Interpretation: As per this, this can be said that there are almost 52 respondents who are
satisfied with the prices of the restaurants. While on the other hand, 8 respondents are those who
does not satisfied with the prices.
Q3. Are you happy with the delivering service by our restaurant?
(a) Yes 45
(b) No 15
8

Interpretation: From the above mentioned graph, this can be said that there are 45 respondents
who are happy with the delivery services in an effective manner. while 15 respondents doesn’t
think so.
Q4. Which product attract you most and feel satisfied?
(a) Italian 25
(b) Thai 20
(c) Chinese 12
(d) Other 13
Interpretation: Italian foods are most popular among people. As, there are 25 respondents who
wants Italian foods. Thai food comes second as 20 respondents likes that.
Q6. Are you satisfied with the behaviour of our staff members while serving products to you?
(a) Yes 40
(b) No 20
9