Business Decision Making Report: Impact of Retail Trends and Tech

This report delves into the critical aspects of business decision-making within the retail sector, emphasizing the influence of evolving customer behaviors and technological advancements. The report begins by outlining a comprehensive plan for collecting both primary and secondary data, including survey methodologies and sampling frames. It then progresses to the analysis of survey results, employing representative values and measures of dispersion to draw meaningful conclusions about customer preferences and sales trends. Furthermore, the report explores the impact of online shopping and technological innovations on sales and customer base, presenting data through trend line graphs and formal reports. Finally, the report discusses the application of information processing and financial tools in decision-making, including network diagrams and critical path analysis, providing a holistic view of strategic business planning and execution in the dynamic retail environment.

Business Decision Making

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
Task 1...............................................................................................................................................4
A. Creating plan for the collection of primary and secondary data.............................................4
b. Presenting survey methodology and sampling frame used......................................................5
c. Designing questionnaire for survey.........................................................................................6
TASK 2............................................................................................................................................8
2.1 Summarizing data collected from the survey using representative values............................8
2.2 Analyzing results of the survey and draw conclusions..........................................................9
Theme 2:......................................................................................................................................9
Theme 3:....................................................................................................................................10
Theme 4:....................................................................................................................................10
c) Analyzing the data using measures of dispersion..................................................................10
d) Explaining the use of quartiles, percentiles and the correlation coefficient in relation to
drawing useful conclusions........................................................................................................11
TASK 3..........................................................................................................................................11
3.1..............................................................................................................................................11
Theme 3: Customers highly prefer to purchase products or services through the means of
online store rather than rather than high street shops and malls................................................12
3.2 Creating a trend line graph which represent that sales and profit growth over the period. .13
3.4 presenting a formal report for Retail Times magazines.......................................................16
TASK 4..........................................................................................................................................16
4.1 Use of information processing tools in decision making.....................................................16
4.2 Drawing network diagram and determining critical path of the project..............................17
4.3 Presenting the use of financial tools in decision making process........................................20

CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................23

INTRODUCTION
In the recent times, business units lay high level of emphasis on conducting research and
undertaking financial tools for the purpose of decision making. Now, companies can gain attain
success and gain competitive edge over others only when they take appropriate decisions. The
present report is based on the case situation which presents that now shopping habit of
customer’s changes as compared to the prior years. For this project, some retail stores as well as
malls have been selected which offers grocery or retail products or services to the customers. In
this, report will provide deeper insight about the plan used for the collection of primary and
secondary data for resolving the concerned issue. Further, it depicts methodology undertaken by
the researcher for conducting survey. Report will also present the manner in which statistical
tools and techniques help in deriving suitable results from data set. Besides this, it also entails
how information processing and investment appraisal tools aid in decision making aspect. In
this, use of project management software in the context of business planning will be described.
Task 1
A. Creating plan for the collection of primary and secondary data
Given case scenario presents that now technological advancements and innovations are
increasing in the retail sector to a great extent. In the competitive business environment firm can
attain success only when it complies with recent changes or trends.
Topic: To assess the impact of technological innovation and multichannel shopping on sales
and customer base retail high street shops & malls
For analyzing the concerned issue data will be gathered by the researcher from both
primary and secondary sources in the following manner:
Primary data collection plan
In the field of research, data gathered through the means of survey, observation, focus
group etc is considered as primary. In other words, primary data implies for the one which is
specifically gathered for meeting the research aim and objectives (Albright, Winston and Zappe,

2010). Primary data is highly effectual which provides suitable and specific information as per
the issue being investigated. For getting information about changing shopping habits of
customers and motivations behind change, in the context of retail sector, survey technique will
be used by the researcher. Hence, firstly 20 managers of high street retail shops and malls will be
selected via purposive sampling. Once, sampling has been done thereafter questionnaire will be
prepared by the researcher by including both close and open ended questions regarding changing
shopping aspects, multichannel shopping etc. Hence, after the preparation of questionnaire, it
will be sent on the mail-id of manager who selected as sample from the related population. Thus,
by following the above depicted plan primary data will be gathered by the scholar.
Secondary data collection plan
Data which has already been gathered, evaluated, analyzed and published by the
researcher recognized as secondary. Books, journals as well as scholarly papers are considered as
the main secondary sources which provide information about the research issue and thereby help
in investigating problem in the best possible way (Gigerenzer and Gaissmaier, 2011). Hence, for
evaluating the impact of technological innovation in the retail store and trend related to
multichannel shopping data will be gathered from journals and articles. Moreover, scholarly and
recently published articles render information about the level to which customers are using as
well as preferring multichannel shopping. Thus, for gathering information about customer’s
shopping trend in the retail sector internet surfing will be done. The reason behind this, internet
contains more information about shopping trends and customer’s behavior.
b. Presenting survey methodology and sampling frame used
Survey methodology: This implies for the process which researcher undertakes to carry
out survey more effectively. For conducting survey within the suitable time period researcher
lays emphasis on selecting and undertaking specific methods (Ho, Xu and Dey, 2010). In this,
for analyzing the impact of technological innovations on sales performance and customer base of
retail stores and malls responses will be gathered from the manager of such firm through online
survey methodology. The rationale behind the selection of online survey methodology is that it
saves time and highly cost effective. On the basis of this aspect, firstly emphasis will be placed
on acquiring mail-id of managers working in high street shops and malls. Thus, by sending
questionnaire on the mail-id of managers, who selected as sample, responses will be collected.

Sampling frame: In survey, researcher is required to select appropriate sample by taking
into account either probabilistic or non-probabilistic technique. Probabilistic techniques imply
for the one in which all the individuals of concerned population gets an equal chance to being
selected as sample (Peetz and Buehler, 2013). On the other side, in non-probabilistic researcher
selects sample by taking into account research aim and objectives. For assessing the impact of
multichannel shopping as well as technological changes on the sales and customer base of retail
shops & malls 20 managers will be selected by taking into account purposive sampling
technique. This sampling technique highly suits to the qualitative research type and thereby helps
in assessing suitable solution of issue.
c. Designing questionnaire for survey
In order to conduct survey more effectually questionnaire has been designed by the
researcher by including both open and close ended questions.
Questionnaire:
Demographic information
Name:
Age:
Area of working:
Q.1 Do you agree that shopping habits of the customers are changed in the recent time frames?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strongly disagree ()
Q.2 Do you feel declining trend in the sales revenue pertaining to retail products or services?
 Yes ()
 No ()

Q.3Do you agree that now customers prefer to purchase products or services through the means
of online store rather than rather than high street shops and malls?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strongly disagree ()
Q.4According to you, which factors are considered as motivating drivers behind the changing
shopping habits of customers?
 Discounting price ()
 Convenience ()
 Facilitates comparison ()
Q.5 Do you think that trend of working women may cause of customer’s changing shopping
habits?
 Yes ()
 No ()
Q.6Do you agree that online shopping trend has impacted customer base of high street shops and
shopping malls?
 Agree ()
 Strongly agree ()
 Neutral ()
 Disagree ()
 Strongly disagree ()
Q.7 Do you believe that education level has impact on customer’s shopping habits?
 Yes ()
 No ()

Q.8 Recommend ways through which sales performance and customer base can be increased by
high street shops and malls..........................................
TASK 2
2.1 Summarizing data collected from the survey using representative values
Survey‘s result
No of respondents Q.2 Q.3 Q.4
1 1 3 2
2 1 1 1
3 1 5 1
4 1 1 1
5 1 4 2
6 1 1 1
7 2 1 2
8 2 4 1
9 2 1 1
10 1 1 1
11 1 1 1
12 1 2 2
13 1 2 2
14 1 2 3
15 2 3 1
16 1 2 1
17 1 2 1
18 1 2 3
19 1 2 2
20 1 2 3
Descriptive statistics
Particulars Q.2 Q.3 Q.4
Mean 1.2 2.1 1.6
Standard Error 0.091766 0.260566 0.168585

Median 1 2 1
Mode 1 2 1
Range 1 4 2
Minimum 1 1 1
Maximum 2 5 3
Sum 24 42 32
Count 20 20 20
Confidence Level (95.0%) 0.192069 0.545371 0.352853
Interpretation: On the basis of above descriptive analysis, there has been analysis based
on three questions which will be helpful to business professionals as to analyses the shopping
behavior of consumers in the stores. However, in relation with 2nd question which ascertains the
opinion of respondents related to the declining in the trend of sales revenue due to retail products
and services. Therefore, as per considering the mean value there are large numbers of individual
believes that the fall in revenue is due to retail product and services offered by the firm in year.
In relation with 3rd question which insists that the preferences of consumers in purchasing the
products which is usually base on online sites rather than moving towards stores. In accordance
with the 4th question it can be said that convenience is the main issues which determines the
fluctuations in the preference to make purchases.
2.2 Analyzing results of the survey and draw conclusions
Theme 2:
Interpretation: Outcome of survey presents that 80% respondents manager entails that
declining phase exist in the sales of high street shops and malls. Moreover, now with the rise in
technological innovations in the retail sector customers give high preference to the online stores
over physical one which in turn places negative impact on company’s performance. On the other

side, 20% managers entailed that economic condition and saturation level of UK retail market is
the major cause behind decreasing sales revenue.
Theme 3:
Interpretation: Bu doing survey, it has found that majority of the respondents 35%
agreed and 40% strongly agreed with the aspect that now customers lay more focus on
purchasing products via online store. On the contrary to this, 10% respondents strongly disagreed
with the aspect that due to the lack of trust and security issues customers avoid using
multichannel shopping for purchasing retail products & services.
Theme 4:
Interpretation: From primary data investigation, it has assessed that, from the views of
manager approximately 55%, for getting benefits of discounted price level customers prefer to
purchase products or service via online means. On the other side, 30% managers presented that
multichannel or online shopping mode offers high level of convenience to the customers. For
getting home delivery of products customers choose online store and avoid visiting physical
store, shops or malls (Solomon, 2014). Further, 15% respondents stated technological innovation
enable customer to purchase product at suitable prices by doing comparison of several brands.
c) Analyzing the data using measures of dispersion
Computation of standard deviation and variance
Particulars Q.2 Q.3 Q.4
Standard Deviation 0.410391 1.165287 0.753937
Sample Variance 0.168421 1.357895 0.568421
Kurtosis 0.698529 0.705875 -0.60942
Skewness 1.624466 1.1176 0.851497

Interpretation: in relation with the standard deviation from such questions and the
consumer’s behaviours towards the outcomes. In question 2 the STDV is 0.410391 which insists
that the changes in the sales revenue are due to retiling the products and services.
d) Explaining the use of quartiles, percentiles and the correlation coefficient in relation to
drawing useful conclusions
Particulars Q.2 Q.3 Q.4
Quartile 1 and 25th percentile 1 1 1
Quartile 2 and 50th
percentile 1 2 1
Quartile 3 and 75th
percentile 1 2 2
Interpretation: on contrary with the above analysis the percentile and quartile affects the
reasoning behind the outcomes it can be said that the motivation of purchasing the goods and
services is mainly influenced by the convenience level. However, it will be suggested to the
professionals that they must make changes into product line and develop and design them in
accordance with consumer preferences. On the other side, the stores are needed to be nearby
residential area which will be convenient to buyers as well as profitable to the business
TASK 3
3.1
Theme 2: Declining trend in the sales revenue pertaining to retail products or services
Particulars Views of respondents % of respondents
Yes 16 80%
No 4 20%
Grand Total 20 100%

Yes No
0%
10%
20%
30%
40%
50%
60%
70%
80%
% of respondents
% of respondents
Theme 3: Customers highly prefer to purchase products or services through the means of online
store rather than rather than high street shops and malls
Particulars Views of respondents % of respondents
Agree 7 35%
Strongly agree 8 40%
Neutral 2 10%
Disagree 2 10%
Strongly disagree 1 5%
Grand Total 20 100%
Agree Strongly
agree Neutral Disagree Strongly
disagree
0%
5%
10%
15%
20%
25%
30%
35%
40% 35%
40%
10% 10%
5%
% of respondents
% of respondents