Business Practice Q4 Analysis: Data and Business Insights

This assignment analyzes data related to business practices, focusing on the use of external assistance for operational and strategic advice. The analysis includes survey results from South East and North West regions, exploring the extent to which businesses seek external information, their main objectives for the next three years (growth, survival, etc.), and actual growth over the past three years. The assignment also examines the approximate turnover of businesses in the last financial year and compares it to the previous year. The data reveals that most businesses do not seek external assistance, and growth is a primary objective. The analysis provides insights into the financial performance and strategic decisions of the businesses in the surveyed regions.

Using Data to Build
Business Practice

Q4.1. Have there been any occasions since established/ in the last three years where you
seriously thought about obtaining external assistance to provide you with information about the
day to day running of your business?
Explanation:
Company data comes when everything is said in analytics, information, articles, books,
references, web indexes and internal documents that a company can use to control its content.
Group, the activities and an evaluation of its exercises, this data also comes from affiliates,
customers, partners and vendors. The stores could be distributed daily; money, exchange and
affinity magazines; databases, governmental measures, catalogs, specialized manuals and much
more. By default, because "data" is more characterized by the placement of the content, physical
data is any data that allows a company to know its terms.
South East Region:
Row Labels Responses
Yes 1 8.40%
No 2 87.02%
Don't know 3 3.05%
N/A 4 1.53%
Grand Total 100.00%
8%
87%
3% 2%
South east region
1 2 3 4

The question is about using external support or third party to gather operational information of
the company. The above result shows that 87.02% industrialists have not been seriously thought
about obtaining external assistance to provide them with information about the day to day
running of their business. Only 8.40% industrialists prefer to gather information from outside or
from agencies. Only few industrialists don’t want to share their responses.
North West region:
Row Labels
Response
s
Yes 17.98%
No 80.90%
Don't Know 1.12%
Grand Total 100.00%
18%
81%
1%
Total
Yes No Don't Know
As compared to South east region; 81% industrialists denies obtaining external assistance for
getting information on their day to day business activities. While, 17% agree that they use
external sources for operational information of their business. This indicates that comparing to
South east region; North West region entrepreneurs are more likely to prefer external sources for
operational data of their company.

Q4.2. Have there been any occasions in the last three years where you seriously thought about
obtaining external assistance to obtain strategic advice to help introduce a stepped change to
grow your business, be more profitable, or employ more people?
South East Region:
Row Labels
Response
s
Yes 11.45%
No 86.26%
Don't Know 0.76%
N/A 1.53%
Grand Total 100.00%
11%
86%
1% 2%
Total
Yes No Don't Know N/A
This question is related with previous one; where it has been asked whether the CEO of company
seeks or approach any outside agencies or tried external sources to get strategic advice for their
business like strategy regarding increase profit, change in employee’s number and growth of
business. The result shows only 11% companies take advice of outside agencies; rest of them
preferred their own strategies and planning. This shows that firms are well established and
acquired professionals and experts who can make good strategies for the business. The reason
could be the risk of leakage of important information regarding company’s internal strength
weakness; which could be dangerous for company in future.

North West region:
Row Labels
Response
s
Yes 15.73%
No 84.27%
Grand Total 100.00%
16%
84%
Total
Yes No
The outcomes at North Western region are almost same as South East region; only some
improvement in population of industrialist who preferred outsider’s advice regarding changes in
their business can be seen; 16% company owners obtain strategic advice to help introduce a
stepped change to grow your business, be more profitable, or employ more people.
Q4.3B. To what extent does my business has not had any need for external information or advice
describes why you did not consider seeking information/ advice?
Explanation: This question is related to previous one; as it will show at what extent business
any need for external information had and it also has how much description given by the
company. All organizations manage a wide range of information, whether it understands
customer needs and the company's position, or the skills and knowledge of employees.
The way a company collects offers and sources such information can be fundamental for its
ability to grow effectively. This does not only apply to gigantic organizations around the world.

Information that operators; can profit from anyone, from a nearby newspaper to a collection
company.
South East Region:
Row Labels
Response
s
Yes, definitely describe 55.05%
Yes, describes to some
extent 14.68%
No, does not describe 24.77%
Don't Know 5.50%
Grand Total 100.00%
55%
15%
25%
6%
Total
Yes, definitely decribe Yes, describes to some extent
No, does not descirbe Don't Know
The result of South east region shows that, 70% people did not seek any external sources,
information and advice out which 55% has described it well and 15% has described it at some
extent. Out of the total; 25% requires external information and advice to run their business.
North West region:
Row Labels
Reponse
s
Yes, definitely describe 60.00%
Yes, describes to some
extent 20.00%
No, does not describe 18.57%

Don't know 1.43%
Grand Total 100.00%
60%20%
19% 1%
Total
Yes, definitely describe Yes, describes to some extent
No, does not describe Don't know
The result shown by North West region is similar to South east region accept fewer people are
there who agrees to take external information and advice for their business.
Q5.4. What do you see as the main objective of your business over the next three years?
Explanation: This is regularly communicated as a testament to organizational intent or outlook:
the subtlety of why your business is here, a great motivator for what it expects to achieve. It
should give your organization estimates up front, for example friendly, confident, sensitive and
learned. These attributes also determine what kind of tasks and goals you need to do and how to
do them so that you are aware, friendly and capable.
South East Region:
Response
s
Growth 64.86%
Survival 22.97%
Plan for business closure 1.80%
Plan to sell the business 3.15%
Maintain the way we are / stabilize 0.90%
Maintain / make a profit / earn a living 0.45%

Maintain customers / client base /
residents 0.90%
Create employment / recruit more staff 0.45%
Develop sales / build a client base 0.45%
Develop / train staff 0.45%
Not applicable 0.45%
Other 2.25%
Not asked in PILOT 0.90%
100.00%
Growth Survival
Plan for business closure Plan to sell the business
Maintain the way we are /
stabilise Maintain / make a profit /
earn a living
Maintain customers /
client base / residents Create employment /
recruit more staff
Develop sales / build a
client base Develop / train staff
Not applicable Other
Not asked in PILOT
The result in South east region shows that 64.86% companies have growth as their main
objective; and only 22% work for their survival. On the other hand; only 0.45% companies focus
on developing client base. This indicates that the main objective of almost firms operated in
South east region is to maximize their sales at any cost.
North West region:
Reponses
Growth 67.79%
Survival 18.12%
Plan for business closure 2.01%
Plan to sell the business 0.67%
Maintain the way we are / stabilize 0.67%
Maintain / make a profit / earn a
living 0.67%

Reduce overdraft / bank borrowing 0.67%
Other 4.70%
None 0.67%
Don't know 0.67%
Refused 0.67%
Not asked in PILOT 2.68%
100.00%
Growth Survival
Plan for business closure Plan to sell the business
Maintain the way we are /
stabilise Maintain / make a profit /
earn a living
Reduce overdraft / bank
borrowing Other
None Don't know
Refused Not asked in PILOT
The above result is similar to South east region where the main objective of the companies is
growth through more sales revenue. While 2% wants to close their business due to regular losses
to their business.
An organization that has not experienced development for a long time but has not received the
incentive to integrate real improvements into its business approach. Both intentionally and
unintentionally, they survived the business as usual. These groups usually arrive unexpectedly
where their development is on the decline (or poorer, on the decline) and therefore seek answers
to turn it upside down.
This model outlines a possible explanation of the development of an association's positioning
organization as an essential business goal. In any case, there are various elements and conditions
that can guide an organization to set an improvement goal. These reasons can be based on
organizational conditions, bad attitude, and bias and consumer mentality.

Q5.5. Has your business actually grown over the past three years/ since established?
Explanation:
Growing companies have a wide range of problems. With the development of the business, a
number of problems and openings require different arrangements: what worked a year earlier
may not be the best approach. Often, avoidable messages transform what can be a wonderful
business in the same way.
South East Region:
Row Labels
Response
s
Yes 64.41%
No 35.59%
Grand Total 100.00%
64%
36%
Total
Yes No
The above result shows that 64% companies have grown over past three years; this indicates that
they have successfully achieved their business goals. While 36% firms fails to attain their main
objective; these companies were related to agriculture and IT department.
North West region:
Row Labels Response

s
Yes 71.14%
No 28.86%
Grand Total 100.00%
71%
29%
Total
Yes No
Compare to South East region; North West has shown better result in terms of attaining growth
objective by the companies; which is 71%.
Q5.11. Can you please tell me the approximate turnover of your business in your last financial
year?
Explanation:
The turnover index (or inventory, in English inventory turnover ) indicates the number of times a
particular product has been completely renewed in a warehouse within the time frame examined
(one year, one month, a four-month period etc.). It is an important indicator to calculate how
long it takes for the financial means invested in the goods to be recovered.
Divide the goods into two main categories:
High rotation items: these products usually indicate that efficient management is taking place,
because the capital, represented by the goods on the shelves, moves frequently and brings
benefits.

Products at low rotation: this kind of products should be monitored closely, as a retainer in stock
product is interpreted as a signal of one of the little efficient inventory management.
South East Region:
Response
s
Less than £67,000 10.66%
£67,000 - £99,000 5.08%
£100,000 -
£249,999 13.71%
£250,000 -
£499,999 9.14%
£500,000 -
£999,999 10.15%
£1m - £1.49m 5.08%
£1.5m - £2.8m 6.60%
More than £2.8m 10.15%
Don't know 17.77%
Refused 11.68%
100.00%
5% 3%
7% 5%
5%
3%
3%
5%
9%
6%
50%
Responses
Less than £67,000
£67,000 - £99,000
£100,000 - £249,999
£250,000 - £499,999
£500,000 - £999,999
£1m - £1.49m
£1.5m - £2.8m
More than £2.8m
Don't know
Refused
The above result shows that maximum companies in South East region have approximate
turnover between £500,000 to £999,999 and only 2% companies able to cross the turnover of