Business Decision Making

In: Business and Management

Submitted By ckerr12
Words 2898
Pages 12
Conor Kerr
[Email address]
Conor Kerr
[Email address]
Abstract
[Draw your reader in with an engaging abstract. It is typically a short summary of the document.
When you’re ready to add your content, just click here and start typing.]
Abstract
[Draw your reader in with an engaging abstract. It is typically a short summary of the document.
When you’re ready to add your content, just click here and start typing.]
Unit 6: Business decision Making Unit 6: Business decision Making

Contents LO1 2 Introduction 2 Scenario 2 Primary and Secondary Data 2 Primary Data 2 Secondary Data 3 Collection Method 3 Questionnaire 3 Conclusion 4 LO2 4 Task 1 4 2.1&2.2 5 2.3 6 2.4 6 LO3 8 Task 1 8 3.1&4.1 9 3.2 11 3.3 11 3.4 17 LO4 24 Task 2 24 4.2 24 Task 3 27 4.3 27 Sources of Data 29

LO1

Introduction
The following assignment will look at different methods and sources in the collection of data. The research will include both primary and secondary forms of data and a plan will be formed to successfully help address a chosen business problem. An appropriate methodology will be used in the collection of data including the outline of sampling framework. A questionnaire will be designed and used as the main method of gathering primary data.

Scenario
3 mobile is a large mobile phone provider within Ireland. The mobile phone industry is fiercely competitive and 3 Ireland faces big competition from the likes of Vodafone and Eircom. 3 wishes to better understand the general Irish consumer and their behaviours in order to better target and market their products and services. The hope is that with a better understanding of consumers including their needs, wants and behaviours, 3 can entice consumers with better contract packages than the competition.

Primary and Secondary Data
The research will…...

Similar Documents

Business Research for Decision Making

...Business Research for Decision Making IP 2 Tonja A. Brooks AIU Online Abstract This paper attempts to develop a framework for interrelationships among human resources information systems (HRIS), outsourcing, and corporate culture. This research investigates impacts of outsourcing HRIS on corporate culture. In this paper, we hypothesize that Outsourcing corporate HRIS is less desirable (1) if the quality of product and customer service matters for a firm, (2) if an organization is concerned with a loss of intellectual property, and (3) if an organization requires maintenance of a distinctive, human resource utility activity that is capable of meeting the challenges of fast changing customer demands in a dynamic business environment. In addition, this paper argues companies must be aware of the total costs associated with HRIS before outsourcing its human resource functions. Finally, the impact on employee morale and implementation must also be considered. By outsourcing HRIS, managers will be able to spend more time and resources dedicated to an employee’s professional career development. Business Research for Decision Making – IP 2 Introduction There has been a tremendous amount of research and studies done on corporate culture, outsourcing, and HRIS; however, there have been only menial research and studies done on Outsourcing HRIS and the sense that it has on the corporate culture. Hagood and Friedman [9] argue that the need for an organization to......

Words: 1889 - Pages: 8

Business Decision Making

...London Churchill College | BTEC Higher National Diploma (HND) in Business | Business Decision Makingby Edina TosokiTutor: Rahaman Hasan | | LETTER OF TRANSMITTAL 29th of November 2013 Dear Mr. Rahaman Hasan, Enclosed is a formal report for your attention on the subject of Kellogg’s case analysis as per requested in September 2013 to analyze the market response to Kellogg’s products in the UK compared to the historical data of response in India focusing on the failed launch. This report includes introduction, literature, methodology, findings and analysis and finally a conclusion and recommendation section to make clear each step of the process. All data that we collected, organized and analyzed have been presented in charts and graphs for the better understanding, then a final presentation was produced to communicate the whole process through visualization. The workload that this formal report has been based on was assigned both to small groups as well joint class work, however this particular report mainly based on my individual input. During the whole preparation of this report I have tried to stay objective and record accurate information as to the best of my knowledge. Some sections of this report may reflect my own conclusions, suggestions and justifications relating to the subject. Thank you for your time reading, marking my report and giving the opportunity to learn and develop new skills by your guidance. Yours sincerely, Edina......

Words: 5712 - Pages: 23

Making Business Decisions

...Making Business Decisions Decision Making Exercise 1 Introduction In this case study, the writer will discuss a personal dilemma encountered when deciding which prepaid mobile plan to purchase and introduce a decision making tool from online site Grid Analysis-Decision-Making Skills Training from MindTools.com (2011) called Grid Analysis. In addition, the report will analyse the advantages and disadvantages of the tool and make some suggestions to improve the quality of the results. Personal or business decision The personal dilemma in this situation is the multiple options of prepaid mobile plans available within the SingTel Optus Proprietary Limited in Australia. These plans are published on the Prepaid Mobile (2013) company pamphlet and they are Prepaid Social, $2Days, Crew Cap and Long Expiry Cap. It is evident from the pamphlet that these plans are equally attractive and above mentioned decision making tool was employed to facilitate the decision process in order choose a best option. Application of decision-making tool In the above mentioned decision tool table, the options are listed in the row labels and the relevant factors in the column headings. Initially each factor with their appropriate options is given a mark from 0%(Poor) to 100%(Good). Secondly, a relative weighting grade is applied to these marks, starting from 0.0(low importance) to 10.0(high importance) by multiplying marks with weighting grades. Finally a total score is calculated by aggregating......

Words: 536 - Pages: 3

Business Decision Making

...Business Decision Making Introduction Decision making is one of the very important tasks that we all have to do in every now and then. And when it is in terms of business then it makes a lot of sense incorporated with a lot of values as well as importance. Whether an organization succeed or fail this all depends on the effective decision making. Valid information & expertise plays a vital role to make good decisions. If decision is great we get good outcomes and the result is actually vice versa if fail to make good decisions. So it is quite evident that before making a decision regarding any issue we must analyze the problems and side effects and then approach for the decision making with the best alternatives as well. So in Short we can conclude that decision making is really very important for a business organization to make profit as well as to be successful in an industry. PART A P1. a plan for the collection of primary and secondary data for a given business problem From Mr. Graeme we can get to know that the passenger volume for the route 23 is not sufficient & has been proved as a losing concern. So as a result initially he decided to stop the bus service in that very route. As a partner & business consultant of a company called Capital Consultant it is my earnest duty to provide my opinion regarding stopping the bus service in route no 23 with proper evidences 7 logics to Mr. Graeme,the business development director of “Travel for London” To......

Words: 3757 - Pages: 16

Business Decision Making

...5 HND Diploma in Business | Unit 6: Business Decision Making - Resit - Level :5 | Student name and ID number | Assessor name | | Mohit Kumar Pun | Date issued | Completion date | Submitted on | 1st August 2014 | 5thSeptember 2014 before midday | | | | Assignment title | Crossrail - Business Decision Making | ------------------------------------------------- ------------------------------------------------- Learning Outcome | Learning Outcome | AC | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(page no) | LO1 | Be able to use a variety of sources for the collection of data, both primary and secondary | 1.1 | Create a plan for the collection of primary and secondary data for a given business problem | | | | | 1.2 | Present the survey methodology and sampling frame used | | | | | 1.3 | Design a questionnaire for a given business problem | | | LO2 | Understand a range of techniques to analyse data effectively for businesspurposes | 2.1 | Create information for decision making by summarising data using representative values | | | | | 2.2 | Analyse the results to draw valid conclusions in a business context | | | | | 2.3 | Analyse data using measures of dispersion to inform a given business scenario | | | | | 2.4 | Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context | | | ...

Words: 2084 - Pages: 9

Business Decision Making

...Business Decision Making Introduction Decision making is one of the very important tasks that we all have to do in every now and then. And when it is in terms of business then it makes a lot of sense incorporated with a lot of values as well as importance. Whether an organization succeed or fail this all depends on the effective decision making. Valid information & expertise plays a vital role to make good decisions. If decision is great we get good outcomes and the result is actually vice versa if fail to make good decisions. So it is quite evident that before making a decision regarding any issue we must analyze the problems and side effects and then approach for the decision making with the best alternatives as well. So in Short we can conclude that decision making is really very important for a business organization to make profit as well as to be successful in an industry. PART A P1. a plan for the collection of primary and secondary data for a given business problem From Mr. Graeme we can get to know that the passenger volume for the route 23 is not sufficient & has been proved as a losing concern. So as a result initially he decided to stop the bus service in that very route. As a partner & business consultant of a company called Capital Consultant it is my earnest duty to provide my opinion regarding stopping the bus service in route no 23 with proper evidences 7 logics to Mr. Graeme,the business development director of “Travel for......

Words: 3806 - Pages: 16

Business Decision Making

...Business Decision Making Project, Part 2 Ashelik Bagley QNT/275 December 7, 2014 Professor Adkins Abstract Communication is an issue that plagues many businesses today. In an effort to confront this problem, we must collect and analyze data. There are two types of information, qualitative and quantitative. Qualitative data is information that cannot be measured with numbers as it is information about qualities. Information such as the hardness of the rock, how gracefully one walks and the color of one’s eyes are examples of qualitative data. Quantitative data is information that can be written down and measured using numbers. Examples of quantitative data are one’s weight, shirt size, and length of one’s hair. Quantitative data was collected in an attempt to find the core reason communication is an issue for First Service Residential, a small property management company. Quantitative research relies upon probability sampling in order to be able to generalize results to the wider population. Sample selection is based on participation to the relevance of the questions being asked. Quantitative data should be reliable and produce the same response and allow for replication. For part 2 of my collaboration of a business problem, I will explain how I obtained a suitable sample of quantitative data, review the data for validity and reliability while using descriptive statistics to summarize the data. Business Decision Making Project, Part......

Words: 722 - Pages: 3

Accounting for Business Decision Making

...Accounting for Business Decision Making Assignment Ali Nafiz S1409011055 Submitted on 9th November, 2014 Table of Contents Task 1 Task 2 Task 3 2-4 5-7 8-10 1 Ali Nafiz S1409011055 TASK 1 a) Anhad Sdn. Bhd. Budgeted statement of profit for the year ending 31 October 2014 RM (000s) Revenue (120000 × 8)1 Less Variable overheads Direct Materials (1200 × 2) × 95%2 Direct Labour (1200 × 1.32)3 Production overheads Selling overheads Distribution overheads Contribution Less Fixed overheads7 Indirect labour Production overheads Selling overheads Distribution overheads Administration overheads Budgeted Net profit 350 800 450 150 750 2500 1576 2280 1584 6004 6405 4206 5524 4076 RM (000s) 9600 1 2 Sales volume increase by 50%, which is equal to 800000 × 150% = 1200000. And the new selling price is RM 8. Material cost per unit is RM2, which remains unchanged, and 5% discount is given on the total. 5% discount would mean the budgeted cost for 2014 would be 95% of the cost of 2013. 3 Assuming that production of one unit takes 1 hour, for 800,000 units it takes 800,000 hours, which means labour 960,000 cost per hour is = 1.2, The new cost/hr for 2014 is 1.2 × 110% = 1.32. 800000 4 5 6 Production overheads increase in proportion with the 50% increase in sales volume; 480,000 280,000 400,000 800,000 × 1200,000 = 600,000 Variable selling overheads increase in line with the sales revenue; 7200,000 × 9600,000 = 640,000. Distribution overheads increase......

Words: 2299 - Pages: 10

Business Decision Making

...Assignment front sheet Qualification Pearson BTEC Level 5 HND Diploma Business Student name Unit number and title Unit 6: Business Decision Making Assessor name James Kwok Date issued Completion date Submitted on 5th January 2015 16th February 2015 Assignment title BDM: To start-up a upstairs coffee cafe in the city(2 of 2) Learning Outcome Learning outcome Be able to produce information in appropriate formats for decision making in an organisational context Assessment Criteria 3.1 3.2 3.3 3.4 LO3 In this assessment you will have the opportunity to present evidence that shows you are able to: Produce graphs using spreadsheets and draw valid conclusions based on the information derived Create trend lines in spreadsheet graphs to assist in forecasting for specified business information Prepare a business presentation using suitable software and techniques to disseminate information effectively Produce a formal business report Use appropriate information processing tools Prepare a project plan for an activity and determine the critical path Use financial tools for decision making Task Evidence no. (Page no) 3 3 3 3 4 4 4 LO4 Be able to use softwaregenerated information to make decisions in an organisation 4.1 4.2 4.3 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this......

Words: 1570 - Pages: 7

Business Decision Making

...Tasneem Shabbir 014101 Unit 6 Business Decision Making Project Report Table of Contents Information Processing Tools 3 Strategic, tactical and operational information 3 Examples of strategic, tactical and operational information relevant to a Banking sector 3 MIS and its relevance in an organization 4 Project plan for an activity and determine the critical path 5 Financial tools for decision making 5 Project Planning Steps 5 Bibliography 6 Information Processing Tools Strategic, tactical and operational information Strategic planning refers to the process through which an organization defines its strategy, allocate its resource and lead the direction that the company will follow to achieve its goals. Strategic Planning is the formal planning for the future and help the company to define: what we do? For whom we do it? How do we successes? Tactical Planning refers to the process of taking the strategic plan and divided into specific activities, short term actions and plans to achieve the planned objectives. Operational Planning refers to the action plan for the day-to-day functioning of an organization. It defines the short term methods to achieve the strategic objectives set while strategic planning is done. In other words, operation planning allows the company to determine how to do it. Examples of strategic, tactical and operational information relevant to a Banking sector Currently, organizations are in the race for enhancing their......

Words: 1947 - Pages: 8

Business Decision Making

...|BANKING ACADEMY OF VIETNAM | |BTEC HND IN BUSINESS (ACCOUNTING) | | | |ASSIGNMENT COVER SHEET | |NAME OF STUDENT | | |REGISTRATION NO. | | |UNIT TITLE |Unit 6: Business Decision Making | |ASSIGNMENT TITLE |Data Analysis for Decision Making | |ASSIGNMENT NO |2 of 2 | |NAME OF ASSESSOR |MBA Le Thu Hanh | |SUBMISSION DEADLINE | ...

Words: 1303 - Pages: 6

Business Decision Making

...Higher Diploma in Business Management BUSINESS DECISION MAKING Unit 6: Outcome 1: Outcome 2: Outcome 3: Outcome 4: Business Decision Making Be able to use a variety of sources for the collection of data, both primary and secondary Understand a range of techniques to analyse data effectively for business purposes Be able to produce information in appropriate formats for decision making in an organisational context Be able to use software generated information to make decisions in an organisation Your assignment consists of two tasks for you to complete. Task 1 will include two parts. Part 1 is scenario based and asks you to prepare a professional report based on your market findings. In Part 2 of the Task 1 you will need to discuss various Management Information Systems (MIS). Task 2 will be based on three time-constrained activities (TCAs). TASK 1, Part 1 – Individual business report Submission date: 21 May 2015 Scenario: Grocery Ltd In business, good decision making requires effective use of information. A Sales Director of Grocery Ltd, the recently established mass retail business in Dubai, seeks information on the grocery market in Dubai in order to make several important business decisions. He appointed you as his consultant to analyse relevant market data/ information and deliver a professional report based on your findings. Grocery Ltd operate several grocery stores in Dubai; all stores were established four years ago. During the past...

Words: 1394 - Pages: 6

Research & Decision-Making for Business

...The Learning Business Research Report BX2174: Research & Decision-Making for Business KARAN LAKHANPAL Student Number: 12908897 QIN YANG Student Number: 12653971 Lecturer: Dr Andre Kuah Contents 1. EXECUTIVE SUMMARY ............................................................................................ 2 2. BACKGROUND TO THE BUSINESS DECISION OR PROBLEM .............................................. 3 3. THE SPECIFIC RESEARCH OBJECTIVES TO BE ADDRESSED .............................................. 5 4. CRITICAL ANALYSIS OF THE METHODS ...................................................................... 6 5. RESULTS AND DISCUSSION ....................................................................................... 8 6. IMPLICATIONS FOR THE BUSINESS DECISION OR PROBLEM ........................................... 10 7. ETHICAL ISSUES .................................................................................................... 11 8. REFERENCES......................................................................................................... 13 9. APPENDIX ............................................................................................................ 14 The Learning Business Research Report | Campus: 10. 1 CHECKLIST OF ASSESSMENT CRITERIA .................................................................. 18 The Learning Business Research Report 1. Executive......

Words: 4438 - Pages: 18

Business Ethical Decision Making

...Introduction Ethical behavior is generally expected to be conducted within a business by its managers and employees. When business ethics is spoken by business people of it usually means one of three things (1) avoid breaking the criminal law in one’s work-related activity; (2) avoid action that may result in civil law suits against the company; (3) avoid actions that are bad for the company image (Erwin 2011). . Ethical issues in business will occur but can be solved and avoided in many cases that can help a company continue to be successful. Using an ethical decision making process will guide companies and its employees in the right direction to success and respect within the communities they serve. Most people involved in business whether functioning as a small business owner, employee, or chief executive officer of a multination company eventually face ethical or moral dilemmas in the workplace. Such dilemmas are usually complex, for they force the person making the decision to weigh the benefits that various business decisions impart on individuals including him or herself and groups with the negative repercussion that those same decisions usually have on other individuals or groups. What is Ethics? Business ethics is a subject that can be difficult to define. Any discussion of business ethics is a subjective one, for everyone brings different concepts of ethical behavior to the table. These moral standards are shaped by all sorts of things, from home environment......

Words: 2343 - Pages: 10

Business Decision Making

...BUSINESS DECISION MAKING INTRODUCTION  Johnson and Johnson is an American multinational company founded in Brunswick ,New Jersey in 1886 by American entrepreneur Robert Wood Johnson. It manufactures pharmaceuticals, medical devices and consumer products.  J&J and its subsidiaries have operations in over 60 countries and sell their products in over 175 countries. Today, it employs 120,000 people worldwide.  They are the world’s second largest manufacturer of health care products and the largest developer and manufacturer of medical treatment and diagnostic devices. EXECUTIVE SUMMARY Consumer Products Prescription Products Medical Devices and Diagnostics Is actually the smallest division but include some of them most well know products Is the second revenue earner for the company, focuses on medical needs in cardiovascular, metabolism, immunology and oncology Is the largest segment producing medical equipment, surgical systems and devices LISTERINE, NEOSPORIN, NEUTROGENA, SPLENDA, BAND-AIDS, TYLENOL,VISINE, ACUVUE, ONETOUCH, JOHNSON'S BABY PRODUCTS (LOTION, SOAP, SHAMPOO) COMPETITIVE ADVANTAGE Strong branding and customer loyalty Patient protection Diversification in research and development of new products A single focused business segment in healthcare Company structure / Management approach EXTERNAL & INTERNAL ENVIRONMENTS Consumer bargaining power Threat of entry Threat of substitutes Competition / Rivalry • The largest risk is......

Words: 1058 - Pages: 5