Business Decision Making Report: Posturparcel's UK Market Entry

This report analyzes Posturparcel, a delivery company, aiming to enter the UK market. It explores business decision-making models, focusing on rational decision-making and its issues, and data analysis techniques for collecting primary and secondary data. The report evaluates competitors, conducts SWOT and market trend analyses, and proposes a solution using a suitable business decision-making model. The methodology includes qualitative and quantitative approaches, with a sample size of 100 participants, and addresses ethical considerations. Tools like text and statistical analysis are employed. The report emphasizes balancing business needs with decision models, highlighting the importance of data-driven insights for successful market entry and effective business strategies. The report also discusses the impact of management ability, overconfidence, and the need for balancing business needs with decision-making models.

Business Decision Making Report
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Table of Contents
Introduction......................................................................................................................................3
Task 1.1 Business Decision Making Model and its Major Issues...................................................4
Rational decision making............................................................................................................4
The main issue with the decision-making model........................................................................4
The main characteristics of problems involving decision-making..............................................5
Task 1.2 Data analysis and complicated business decisions...........................................................6
Primary data collection plan........................................................................................................6
Secondary data collection plan....................................................................................................7
Issues that arise when making complicated business decisions..................................................8
Task 1.3 Methodology.....................................................................................................................9
Method.........................................................................................................................................9
Sample Size.................................................................................................................................9
Data Source..................................................................................................................................9
Resources.....................................................................................................................................9
Ethical consideration.................................................................................................................10
Tools and techniques for data research......................................................................................10
Task 2.1 Evaluating Competitors, SWOT analysis, and market trends.........................................11
Competitor Analysis..................................................................................................................11
SWOT Analysis.........................................................................................................................12
Market trends analysis...............................................................................................................13
Task 2.2 Evaluate the process using an appropriate business decision-making model.................16
Task 3 The suggested solution and the problem-solving technique..............................................17
Conclusion.....................................................................................................................................18
References......................................................................................................................................19
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Introduction
The Decision Model is a conceptual framework for analysing, organizing, and maintaining the
business reasoning which supports a judgement call. Data model is understood as a collection of
business rules expressed in individual parts of factors that lead to inferences in an unstructured
way. Business managers conduct business activities using business models. The purpose of this
report is to make a business decision by using an appropriate business model and to make a plan
by analysing the information related to it, analysing the market competition in this plan, and
analysing the market related strengths, weaknesses, opportunities, and threats. In this report, a
delivery company called Posturparcel is going to conduct its business activities in the UK market
and will analyse a suitable business decision model for market entry.
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Task 1.1 Business Decision Making Model and its Major Issues
Rational decision making
The rational decision-making model's most basic application is to maintain a proper method of
choice. It could be used to create a standardized tool for such a company or to ensure that the all
supervisors end up receiving the same info (Evans and Prokopenko, 2021). Posturparcel can play
an effective role in their reasonable business decision making model. A logical decision can be
made by using reasonable methods. The process can also be used to keep a structured, process
method to each decision.
The main issue with the decision-making model
The management of the Posturparcel wants to create a decision-making structure but the
Posturparcel has identified some major problems which are given below.
Overloading on information: It may be helpful for the Posturparcel company to have a lot of
information, but in that case the whole process can be disrupted if the information is not
collected or made available properly (Bhui, and Gershman, 2021). Having too much information
can lead to problems in making decisions.
False attribution of the problem: Many times, there are various problems involved in making
decisions. Identifying the root of the problem becomes more complicated. And if the root
problem is not identified, the decision-making process may be disrupted (Akram and Shahzadi,
2021).
Overreaction of the results: If the Posturparcel is overly optimistic about their results, their
decision will make a distinction between reality and unreality which will hinder them from
achieving realistic results.
Human factors: Humanitarian factors can be a problem when making business decisions.
Because business decisions are made based on people's psychological issues, their satisfaction is
very difficult to measure.
Time and resource limitations: To highlight Posturparcel business framework, the company's
management requires a dynamic schedule and budget efficiency. However, because the company
is small in size, it has a limited budget and time to enhance its business framework (Lehto,
Nanda and Nanda, 2021).
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The main characteristics of problems involving decision-making
1. Logic is being used by choice makers and the general decisions. When making a certain
decision, a consultant’s director of Posturparcel must forecast the lots of possible consequences
of that action (Mahmoudi, Javed and Mardani, 2021).
2. Posturparcel's management has a bias, which implies they decide things given the information
available. They tend to spend less time establishing a range of possible solutions by gathering
and processing extra information, culminating in irrational decision (Ardil et al, 2021).
3. After you've made the decision, you'll have another opportunity. There were also some
considerations which would not be considered in this judgment. When one decision has been
made, another deal's future costs is produced.
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Task 1.2 Data analysis and complicated business decisions
When entering a new market in UK, Posturparcel lacks a competitive advantage. Gathering units
of information and generating sources from both primary and secondary data can help firms gain
a good perspective on their UK market and provide a reasonable alternative that will promote
expansion (Monino, 2021).
Primary data collection plan
Primary research is critical for making management decisions since it allows you to understand
the modern market. Assist in obtaining a wide range of responses; gathering primary information
can help in recording customer behavior, views, mentality, and so on; and the information
gathered is suitable for collation and data analysis (Mazhar et al, 2021). The planning of how the
data will be collected is discussed below.
Direct personal investigation: The investigator of Posturparcel company receives direct
responses from the participants that use this approach. To gather the data, he physically visits the
participants (Shiu-Yee et al, 2021). The information collected is first-hand and distinctive. As a
result, it is much more trustworthy and efficient.
Indirect Oral Investigation: Instead of approaching the informants directly, the investigators of
Posturparcel company question a number of other people in the UK who are in direct or indirect
contact with them (Abd El-Naby, Noaman and Morsy, 2021). This strategy can be used to
investigate a large area. It saves time, money, and manpower.
Information through correspondents: This strategy entails the employment and training of
realtors or reporters to obtain information from the respondents. It's beneficial when the scope of
the investigation is broad and evidence should be obtained from all around the nation. It's also
quite handy for obtaining data in a timely manner.
Telephonic interviews: Posturparcel can collect information by telephone interviews. Because
the information was gained direct from party, it is genuine. Interview process also obscure
responders' visual responses, which could be helpful in collecting information regarding difficult
topics.
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Mailed Questionnaire: A questionnaire includes a set of questions pertaining to the research is
prepared using this approach. It is then mailed to sources with instruction on how to finish it.
After giving the survey, the informant returns this to the investigator (Story, 2021). That method
is suitable for sensitive questions and assures that respondents stay secret.
Secondary data collection plan
Secondary data is information that has previously been obtained by another person or company
and is used by business (Cappa, Franco and Rosso, 2022). The Posturparcel company will need
secondary data to make the decision to enter the UK market. As a consultant manager, secondary
data can be collected from the following sources:
Published sources: Data that is available in print format is known to as published sources. It
includes the following items:
a. Numerous governments, quasi, and private organizations publish magazines of UK,
Government statistics on births, deaths, education, and other topics; Economic Times,
Financial Express, and other publications publish data on pricing, production, and other
topics (Buhalis and Volchek, 2021).
b. Reports from select committees or commissioners, such as statements from the salary
commission, the budget commission, and so on.
c. International agencies' reports, such as the United Nations, the World Health Organization,
the International Monetary Fund, and many others, are periodically issued.
Unpublished personal sources: All of the statistics is not always publicly disclosed. The data
recorded by government and other private organizations fall in that category. It comprises
research carried out by other researchers or organizations (Alao, Ntukogu and Uhere, 2021).
Depending on context, sources like reports made by private investigation organizations can also
be utilized.
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Issues that arise when making complicated business decisions.
Management ability: Many people in a region are affected by the decisions made by thoughtful
and efficient management. It's why they are reluctant to accept responsibilities. Because of a lack
of good leadership, if a manager lacks the ability to make the right judgments at the right
moment, the organization will not be able to achieve its objectives (Назаров, 2021).
Overconfidence: Another factor that can specific content is our proclivity to overestimate our
own expertise, competence, or judgment. Positive thinking isn't necessary; instead, Posturparcel's
management must focus on real, credible, or attainable solutions rather than overoptimistic and
idealistic alternatives (Ferrell and Fraedrich, 2021).
Balancing the need with the decision-making model inside the business: To make complex
judgments, the manager must manage activities while keeping the business decision model in
mind (Minkoff and Ecker, 2021). Complex decisions become harder for the manager if the
business model is unbalanced. To do business in the UK, the consultant manager must correctly
balance the requirements with the company model (Sarker, 2021).
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Task 1.3 Methodology
Method
There are two main methodologies: qualitative and quantitative; the third methodology, mixed
mythology, is simply a combination of the both. Quantitative data is collected from existing and
potential customers and its results are analyzed in various surveys and represented in numerical
form. The qualitative method by research focuses on what consumers think, not why they think it
is, and focuses on accessing data through open and conversational communication (Pandey and
Pandey, 2021). The Posturparcel company collects various information from customers in case
of new entry in the market and analyses its results in the form of numerical information and will
play an important role in future decision making.
Sample Size
Researchers can collect data by gathering a sample size of participants and performing studies on
individuals. The Posturparcel Company is a company that deal with parcels. A total of 100
customers, competitive businesses, and relevant stakeholders were selected by the researchers.
The sample size was determined by utilizing a basic random sampling procedure. For example,
they want to choose a basic random sample of 100 people. Now, each participant is provided a
number ranging from 1 to 1000, and 100 people will be selected at random from those 1000
numbers.
Data Source
The study is being managed by researchers from Posturparcel Company, who are gathering
primary and secondary data (Chelladurai, 2021). Whereas primary data is gathered from
participants through various questions, secondary data is gathered from external sources, which
can include articles, online documents, or publications.
Resources
The researchers at the Posturparcel company used a wealth of resources. The researchers utilized
Excel Software and Slide to do complex data analysis for this research (Hayibo, and Pearce,
2021). In addition, various hand notes, Word Documents, and Microsoft OneNote are used to
record and acquire data for this research.
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Ethical consideration
By carrying out all of the project's activities, Posturparcel researchers have assured that all legal
aspects of project have been satisfied. The researchers did not use any of the respondents'
personal information in this study (Barykin, 2021). Any type of data that isn't used in this project
could lead to an ethical dilemma and compromise the privacy of multiple parties.
Tools and techniques for data research
Several tools and techniques were utilized in the UK market research for Posturparcel to evaluate
the quantitative and qualitative data collected from the random sample. Following is a
description of how the tools and techniques are analyzed:
Text analysis: Text analysis is a technique of evaluating documents in order to obtain device
information. Its plan is to turn free and unorganized content into data structure. Slicing and
dicing piles of unstructured, diverse files into easy-to-read, handle, and comprehend data pieces
is the process (Chandra and Dwivedi, 2022).
Statistical analysis: Collection of data, processing, and confirmation are all statistical approach.
Statistical analysis is the process of quantifying data and applying statistical analysis through a
series of statistical processes. Descriptive data, such as surveys and field observations, are
examples of quantitative data. A descriptive statistic is also another name for it.
Diagnostic analysis: Diagnostic analysis is indeed a step beyond data analysis in that it offers a
more detailed analysis to answer the questions.
Discourse analysis: Throughout interactions, discourse analysis aids in comprehending the
social and cultural aspects the spoken and written communication (Giri and Banerjee, 2021). The
goal of discourse is to learn more about the cultural context as well as how people use effectively
to communicate goals like generating emotion, planting doubt, and developing trust. Discourse
analysis examines both verbal and nonverbal signs in a conversation.
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Task 2.1 Evaluating Competitors, SWOT analysis, and market
trends.
Competitor Analysis
Following the collection of qualitative and quantitative data from market research, in order for a
postal company to analyse its competitors, they must first determine who their competitors are,
such as DHL, FedEx, etc., and divide them into direct and indirect competitors. Then you have to
decide what kind of product they are working on for the UK market (Raciti, 2021). They need to
share information about what they are offering customers and how much value they are creating.
You also need to analyse the competitive company's sales strategy and its sales growth. The
market share of the competing company in the UK market needs to be monitored. Other parcel
delivery companies also need to analyse how long their shipping charges are being determined
and whether they are understood by the customer or how satisfied the customer is (Van Tuan,
Huy. and Duy, 2021). In order to provide services in the UK market, Posturparcel must have a
good idea of information technology. Social media needs to be monitored to see how satisfied
the other competing companies are with the customer and what kind of platform the competing
companies are using to provide custom care services.
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