Business Decision Making: An Analysis of Fast Food Market Trends

This report analyzes fast food consumption trends and provides insights for business decision-making. Primary data collected from 50 respondents indicates a high demand for fast food, with a preference for domestic and Chinese dishes. The analysis suggests that demand is highly sensitive to price changes, necessitating careful pricing strategies and economies of scale. A trend line chart projects increasing sales, although it acknowledges potential business cycle changes. The report includes a Gantt chart and network diagram, estimating a project completion time of 20 days. Key references include works on project management and statistical analysis. Desklib provides access to this and other solved assignments for students.

BUSINESS
DECISION
MAKING

Do you consume fast food?
Yes No
0
5
10
15
20
25
30
35
40
45
40
10
Series1

Interpretation
In research it has been find out that out of 50 respondents 40 state that
they prefers to consume fast food and only 10 people state that they do
not consume fast food. So it can be concluded that there is very high
demand for fast food in the market.

Which type of fast food you often prefer
to consume?
5
10
20
15
Indian
Chinese
Domestic dishes
Other

Interpretation
Research results shows that most of people like to
consume domestic dishes and after that they like to
consume Chinese food. Few people like to eat Indian
food. Thus, it can be said that most of people like to
consume dishes that are related to UK and China.
Thus, Murano must supply more and more UK and
Chinese dishes on its own restaurant.

Do you think that increase in price may lead
to fall in demand for fast food in market?
Yes No
0
5
10
15
20
25
30
35
40
45
40
10
Series1

Interpretation
As per collected primary data 40 respondents agree with
fact that increase in price will directly and negatively
affect demand for fast food. Hence, Murano must
cautiously determine price of its products.

Demand for fast food is highly sensitive to change in price of
product.
20 Highly satisfied
Sartisfied
Somwhat satisfied
Dissatisfied
Highly dissatisfed

Interpretation
As per collected data most of respondents
agree with the fact that demand is highly
sensitive to change in price. Means that if
price change slightly then demand will
decline sharply. Hence, firm needs to
generate economies of scale in its
operations in order to price of goods
unchanged.

Trend line
1 2 3 4 5 6
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
Series1
Linear (Series1)

Interpretation
From trend line chart it can be seen that trend line is
increasing consistently. This means that in future firm sales
will increase continuously. However, this trend line does not
give guarantee that in future firm sale will increase because
this prediction is made on the basis of past data. In future
business cycle will change and that change may happen
negative or inverse to congenial business conditions. If this
happened then instead of increase in sales decline in same
may be observed. It may increase but at a slow growth rate.
Hence, managers can not completely believe on the results
produced by this chart. Management needs to follow
cautious approach and by doing so Murano can earn profit
and may increase sale in inverse business conditions. Thus,
it depends on the managers the way that they adopt in
order to increase business.

GANTT chart