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Sample Assignment: Business Decision Making in an Organization

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Sample Assignment: Business Decision Making in an Organization

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  1. Business Decision Making TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  2. Table of Contents INTRODUCTION...........................................................................................................................4 TASK 1............................................................................................................................................4 1.1 Creating plan for primary and secondary data for business problem....................................4 1.2 Presenting survey methodology and sampling frame ...........................................................5 1.3 Designing a questionnaire .....................................................................................................5 2.1 & 2.2 Collecting data and summarizing the same using representative values.....................6 2.3Analyzing data by using measure of dispersion.....................................................................7 2.4 Uses of quartile, percentile and correlation coefficient.........................................................8 TASK 2............................................................................................................................................9 3.1 Producing graphs by using spreadsheet and drawing valid conclusion.................................9 3.2 Creating trend line in graphs for forecasting.......................................................................11 4.1 Appropriate information processing tools............................................................................12 4.2 Preparing project plan for activity and determining the critical path..................................12 4.3 Using financial tools for decision making...........................................................................13 3.3 Preparing business presentation...........................................................................................15 3.4 Producing formal business report........................................................................................15 Conclusion.....................................................................................................................................15 REFERENCES..............................................................................................................................16 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  3. INTRODUCTION Business decision making is the prominent aspect for growth and long run survival of business. It is an appropriate way to expand business and increase overall rate of return of company thereby firm can be able to create its competitive edge in the marketplace. The present report is about restaurant chain that wants to open its new outlet in London. Owing to this, report incorporates several types of statistical tool that facilitates to anticipate about future profitability and growth of firm. Further, financial tools are applied that aid to select best project on the basis of rate of return and time period that is associated with recovery of cost. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT FROM OUR EXPERTS CONTACT US NOW: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com TASK 1 1.1 Creating plan for primary and secondary data for business problem Planning for data collection is the important process in order to expand business. It facilitates management of firm to know about trend market that is related to demand, customer’s preferences and other factors that contribute towards successful running of business. So market research is the foremost activity which needs to be done at first hand that enables management of firm to increase overall rate of return by catering need of buyers in an effective way (Coskun, S., Basligil and Baracli, 2008). In order to collect data for expansion of restaurant chain in London, market research will be conducted that consists of collection of both primary as well as secondary data. Here, primary data is collected at first hand that serves as raw and fresh TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  4. information. These are then used after compiling and sorting that aid to fulfill aim of company. For this report, primary data is collected by preparing questionnaire that consists of list of questions based on corporation (Hacklin and Wallnöfer, 2012). This questionnaire is then rotated among target customers of firm by the help of mailing. Further, buyers can also be interviewed and observed. It facilitates to collect large amount of data so as to expand business over the globe and deliver good quality of services to buyers. Further, secondary data are also imperative which are collected by the help of newspaper, census report and financial statement of firm. It facilitates to provide detailed information regarding trend of market as well as preferences of buyers so as to open new outlet of restaurant chain of London (Jalal-Karim, 2013). 1.2 Presenting survey methodology and sampling frame Survey methodology is an important way to search for pertinent information for expanding the business over glove and for increasing overall rate of return (Survey Methodologies, 2014). It assists the researcher to study about large population by applying data collection techniques. For example, through questionnaire and interview, he can collect the data. For the restaurant chain that wants to open its new outlet in London, questionnaire is used. The sampling frame is another prominent aspect of survey methodology thereby scholars select individual unit from population (Anninos and Chytiris, 2011). There are several types of sampling methods which are used such as quota, simple random and cluster sampling. For the present report, individual and households are selected who will be given with questionnaire so as to collect primary data (Kazan, Özer and Çetin, 2006). These are selected on the basis of simple random sampling. It facilitates to cater need of management in an effective manner that contributes toward implementing expansion plan. 1.3 Designing a questionnaire The management of restaurant chain makes use of following questionnaire in order to collect data for knowing market trends- Name- Age- TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  5. Gender- 1. How often you move outside for dinner? o Once in six months o Twice in week o Once in month o Sometime 2. What do you like most about our food chain? o Ambiance o Tasty meal o Quality of services o Prices 3. Are you satisfied with the quality of services provided by our organization? o Strongly satisfied o Satisfied o Natural o Dissatisfied o Strongly dissatisfied 4. Are you comfortable with pricing policy of our restaurant? o Yes o No 5. What you want more from our food chain? o Variety of products o Attractive decoration and music TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  6. o Higher quality of services o Affordable prices 6. Are you satisfied with the variety of food that is provided by our organization? o Strongly satisfied o Satisfied o Natural o Dissatisfied o Strongly dissatisfied THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT FROM OUR EXPERTS CONTACT US NOW: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com Justification The aforementioned questionnaire proves to be very effective in order to gather detailed information regarding customer's liking and preferences (Pimentel, Kuntz and Elenkov, 2010). It assists the management of restaurant chain to cater its need in an effective manner and give them higher level of satisfaction. 2.1 & 2.2Collecting data and summarizing the same using representative values TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  7. From the above figure, it is found that 25% respondents seek for ambiance that can be achieved by good decoration and music. 30% of participants said that they seek for tasty meal where 30% customers want good quality of food. It can be said that firm should focus on all these elements that aid to give higher level of satisfaction among buyers. Further, remaining participants are concerned about prices of products and services. Therefore, management firm will get initial idea regarding customer preferences and taste. 2.3Analyzing data by using measure of dispersion Following table is showing data of sales and profit related to six years that assist restaurant chain to expand business on other geographical area in London that facilitates to increase the overall rate of return (Theoharakis and et. al., 2007). It is the secondary data of restaurant chain that is collected by several sources such as financial statement. Table 1: Secondary data Sales £m 150 200 250 300 350 375 Profit £m 80 100 130 140 170 200 Year 2008 2009 2010 2012 2013 2014 Table 2: Measure of dispersion Sales £m Profit £m Mean Standard Error Median Mode Standard Deviation 270.833 35.6 Mean Standard Error Median Mode Standard Deviation 136.667 18.0123 275 135 #N/A #N/A 87.2019 44.121 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  8. Sample Variance Kurtosis Skewness Range Minimum Maximum Sum Count 7604.17 -1.4527 -0.216 Sample Variance Kurtosis Skewness Range Minimum Maximum Sum 1946.67 -0.811 0.20802 225 150 375 1625 120 80 200 820 6 Count 6 The aforementioned table is providing detailed information regarding average sales as well as profit and other data that proves to be effective in order to open its new restaurant chain in London. Here, standard error for sales is 35.6 whereas profit has 18.0123. It reveals that sales of food chain has higher limit for accepting error. Median for profit is £m 135 whereas sales have £m 275 as the median (Aleš Popovič and et. al., 2012). It facilitates to segregate data into two equal part thereby management of firm can take decision regarding its expansion in an effective way. On the other hand, average sales during six years is £m 270.833 whereas average profit for the same period is £m 136.6678. Further, standard deviation for profit and the same for sales are 87.2019. It depicts that both are not close to average profit as well as sales. 2.4 Use of quartile, percentile and correlation coefficient The quartile, percentile and correlation coefficient are imperative when decision is taken for expansion of the corporation that facilitates to take right decision. Here, quartile divides the overall data into four equal parts that facilitates to draw valid conclusion so as to achieve long as well as short term objectives of firm (Hirigoyen and Labaki, 2012). Here, quartile one and second is coming under average value of sales. On the other hand, both first as well as second quartile of profit also lies under average profit. It assists the firm to take an appropriate decision regarding expansion of firm. Table 3: Quartile Sales £m Profit £m TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  9. Quartile 1 Quartile 2 Quartile 3 212.5 275 337.5 107.5 135 162.5 Following table depicts the information that is related to percentile of profit and sales. It segregates overall data into 100 equal parts that depicts value of each relevant segment. Here, 75th percentile of sales is greater than average value of sales during six years. On the other hand, both 25th and 50th percentile lies in average value of profit. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT FROM OUR EXPERTS CONTACT US NOW: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com Table 4: Percentile Sales £m 212.5 275 337.5 Profit £m 107.5 135 162.5 25th Percentile 50th Percentile 75th Percentile Correlation coefficient Correlation coefficient is an imperative statistical tool that provides result on the basis of dependability of variables (Mackey and Gass, 2005). Here, both sales and profit has 1 perfect correlation that facilitates their interconnectivity. It also depicts that change in sales will automatically change its profit and vice versa. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  10. Table 5: Correlation Profit £m Sales £m Sales £m Profit £m Recommendation 1 0.983338 1 By the data that is analyzed, it can be said that management of restaurant chain takes decision regarding opening a new outlet. It is because, increasing sales derives enhanced ratio of profit that proves to be profitable for firm. TASK 2 3.1 Producing graphs by using spreadsheet and drawing valid conclusion The collected data are presented in a tabular as well as graphical form that assists management of restaurant chain to open its new outlet by effective forecasting. The following pivot table depicts the detailed information regarding six years of restaurant chain. It is showing that profit remain constant for each segment (Kimmel, Weygandt and Kieso, 2010). It is applicable for both profit as well as sales in which profit segment also remain constant. Table 6: Pivot table of sales Row Labels 150-159 200-209 250-259 300-309 350-359 370-379 Grand Total Count of Sales £m 1 1 1 1 1 1 6 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  11. Figure 1: Sales Table 7: Pivot table of profit Row Labels 80-89 100-109 130-139 140-149 170-179 190-200 Grand Total Count of Profit £m 1 1 1 1 1 1 6 Figure 2: Profit and sales Figure 3: Profit and sales Figure 4: Line diagram of profit and sales The above information that is depicted by graphical representation shows that as the sales of company increases, profitability also tend to increase. It creates certainty for future business activities and facilitates to increase overall rate of return of company as well. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  12. 3.2 Creating trend line in graphs for forecasting The below mentioned table shows the trends of restaurant chain for future span of time. It is presented by the following diagram by which it can be said that firm will have higher profit as well as sales (Hodgson and Drummond, 2012). It facilitates to increase the overall rate of return. However, increasing ratio of profitability is lower than sales ratio (Trend Lines, 2015). Table 8: Forecasting Sales £m 150 200 250 300 350 375 Profit £m 80 100 130 140 170 200 Year 2008 2009 2010 2012 2013 2014 2014 2015 2016 2017 2018 Figure 5: Trend line 4.1 Appropriate information processing tools There is several information processing tools that facilitates management of company to record information in an effective manner as well as to protect the data that aid to expand business over globe and increase the overall rate of return (Pimentel, Kuntz and Elenkov, 2010). Here, accounting information system and internet are imperative that facilitates to cater need of different types of buyers in an effective way. It also assists the management of restaurant chain to TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  13. process information and also to gain help for selecting best plan in order to deliver good quality of services to large number of buyers (Information Processing, 2015). THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT FROM OUR EXPERTS CONTACT US NOW: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com 4.2 Preparing project plan for activity and determining the critical path From the following data, project can be planned in order to retain restaurant chain of London. It is can be said that for opening a new outlet, corporation will need £850 that facilitates to implement project in an effective way. Table 9: Activity Duratio n Predecessor s Activity Market research Customer analysis Data collection Analyzing data Implementatio n Review Execution Total Cost 5 150 4 110 1 2 1 80 90 1 2 5 100 2,3 8 1 120 200 850 4,5 6 26 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  14. The following diagram is showing critical path of project that facilitate to reduce overall cost as well as time taken to complete the project. Here, several activities are completed simultaneously (Hedgebeth, 2007). It facilitates to show the longest path to complete project in shortest duration. Further, activities that are covered in critical path are 1+2+5+6+7=20 days and cost taken for the same is 660. Hence, it can be said that, firm can implement project in this way so as to increase the overall rate of return and increase number of customers for the same. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  15. Figure 6: Critical path Table 10: Critical path activity Activit y A B C F G Total Duration 5 4 2 8 1 20 Cost 150 110 80 120 200 660 4.3 Using financial tools for decision making Net present value and internal rate of return is an imperative tool that aid to select the most viable project for restaurant chain in London (Hsu and Chiu, 2008). It assists the firm to start operations as soon as possible and recover its cost within specified time span so as to increase overall rate of return. The cash flow and discounted rate of proposed project is give below- Table 11: Project Present value of 12 % 0.8928 0.7971 0.7117 0.6355 0.5674 0.5066 Presen t Value of 35% 0.74 0.5486 0.406 0.301 0.223 0.165 Cash Inflow CAN$ Years 1 2 3 4 5 6 20000 45000 50000 65000 100000 150000 From the following information, selected proposal is most viable because it is general higher net present value that facilitates to increase overall rate of return and deliver good quality TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  16. of services to large number of buyers. It assists the management of restaurant chain to implement new project in a very less time and start operation with short span of time. It facilitates to create competitive edge of firm in the marketplace. Table 12: NPV Net Present Value Discounted Cash Inflow @ 12 % CAN$ 17856 35869.5 35585 41307.5 56740 75990 2 6 3 3 4 8 1 5 0 0 0 0 1 1 3 3 4 8 Cash Inflow CAN$ Present value of 12 % Years 1 2 3 4 5 6 20000 45000 50000 65000 100000 150000 0.8928 0.7971 0.7117 0.6355 0.5674 0.5066 Total Discounted Cash inflow Less: Initial Investments Net Present value TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  17. Table 13: IRR Internal Rate of Return Discounted Cash Inflow @ 12 % CAN$ Discounted Cash Inflow @ 35 % CAN$ Cash Inflow CAN$ Present value of 12 % Present Value of 35% Years 1 2 3 4 5 6 20000 45000 50000 65000 100000 150000 0.8928 0.7971 0.7117 0.6355 0.5674 0.5066 17856 35869.5 35585 41307.5 56740 75990 0.74 0.5486 0.406 0.301 0.223 0.165 14800 24687 20300 19565 22300 24750 1 2 6 4 0 2 1 5 0 0 0 0 - 2 3 5 9 8 Total Discounted Cash inflow 263348 Less: Initial Investments 150000 Net Present value 113348 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  18. 3.3 Preparing business presentationCovered under power point power presentation (PPT) 3.4 Producing formal business report To The Directors, ABC cafe The report to be presented to management for the decision making is related to opening new outlet of restaurant chain in London. For this purpose study has been conducted in order to collect detail information regarding preferences of buyers. Owing to this, primary as well as secondary data has been collected and analyzed in order to fulfill objectives of firm in specified manner. Further, simple random sampling has been used to collect primary data and is analyzed by the help of thematic analysis. From the collected data and application of various statistical tools, it is found that management of restaurant chain can start operation at new geographical area of London. It is because, trend line for both profit as well as sales in going upwards. Also, there is perfect correlation among sales and profit that facilitate to ensure long run growth of firm (Hofmann, 2007). It enables management of company to cope up with changing scenario and make efforts in relation to increase overall rate of return. It proves to be very effective to achieve long as well as short term objectives of firm by catering need of different types of buyers in an effective way. Furthermore, present report is showing that organization can expand its business because it will have higher rate of return by investing in the present project. It has also been found that, as the company will increase sales then it will have increased profitability,. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  19. CONCLUSION From the above report, it can be concluded that financial tools prove to be very effective in order to assess viability of project that facilitate to guide the management of firm to invest in most viable projects. Along with that, it also facilitates to give upward direction for future business activities. It can also be said that trend line is an imperative way to assess future business performance so as to expand firm and increase rate of return. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT FROM OUR EXPERTS CONTACT US NOW: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  20. REFERENCES Journals and Books Aleš Popovič, A. and et. al., 2012. Towards business intelligence systems success: Effects of maturity and culture on analytical decision making. Decision Support Systems. 54(1). pp. 729-739. Anninos, L. N. and Chytiris, L., 2011. Searching for excellence in business education. Journal of Management Development. 30(9). pp. 882-892. Coskun, S., Basligil, H. and Baracli, H., 2008. A weakness determination and analysis model for business process improvement. Business Process Management Journal. 14(2). pp. 243- 261. Fowler, J. F., 2009. Survey Research Methods. SAGE. Hacklin, F. and Wallnöfer, M., 2012. The business model in the practice of strategic decision making: insights from a case study. Management Decision. 50(2). pp. 166-188. Hedgebeth, D., 2007. Data-driven decision making for the enterprise: an overview of business intelligence applications. VINE. 37(4). pp.414 - 420. Hirigoyen, G. and Labaki, R., 2012. The role of regret in the owner-manager decision-making in the family business: A conceptual approach. Journal of Family Business Strategy. 3(2). pp. 118-126. Hodgson, M. J. and Drummond, H., 2012. Escalation in Decision-Making: Behavioural Economics in Business. Gower Publishing, Ltd. Hofmann, K. P., 2007. Psychology of Decision Making in Economics, Business and Finance. Nova Publishers. Hsu, M. and Chiu, K., 2008. A comparison between I-Ching's early management decision- making model and western management decision-making models. Chinese Management Studies. 2(1). pp. 52-75. Jalal-Karim, A., 2013. Evaluating the impact of information security on enhancing the business decision-making process. World Journal of Entrepreneurship, Management and Sustainable Development. 9 (1). pp. 55-64. Kazan, H., Özer, G. and Çetin, T. A., 2006. The effect of manufacturing strategies on financial performance. Measuring Business Excellence. 10(1). pp. 14–26. Kimmel, P. D., Weygandt, J. J. and Kieso, D. E., 2010. Accounting: Tools for Business Decision Makers. John Wiley & Sons. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

  21. Mackey, A. and Gass, M. S., 2005. Second Language Research: Methodology and Design. Routledge Pimentel, J. R.C., Kuntz, J. R. and Elenkov, D. S., 2010. Ethical decision-making: an integrative model for business practice. European Business Review. 22 (4). pp. 359-376. Theoharakis and et.al., 2007. Insights into factors affecting production and operations management (POM) journal evaluation. Journal of operations management. 25(4). pp. 932- 955. Online Information http://www.techopedia.com/definition/25605/information-processing >. [Accessed on 19th January 2015] Processing. 2015. [Online]. Available through: < Survey Methodologies. 2014. [Online]. Available through: < http://www.uniteforsight.org/global- health-university/survey-methodologies>. [Accessed on19th January 2015]. Trend Lines. 2015. [Online]. Available through: < http://www.incrediblecharts.com/technical/trend_lines.php>. [Accessed on 19th January 2015]. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 450461655 WEBSITE: www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

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