Business Decision Making

Topics: Research, Correlation and dependence, Pearson product-moment correlation coefficient Pages: 16 (2259 words) Published: January 31, 2015

Primary Research4
Secondary research5
Introductory questions6
Main questions6
Final questions8
Task 510
Positive correlation10
Negative correlation10
No correlation10
Strengths of correlations11
Limitations of correlations11
5 A + B.11
Task 7A.14
Total float14
Free float14
Further Reading16

Primary Research
The main objective of the survey was to identify what the people think about the new Princesshay development and whether it is a good influence or bad influence on Exeter city. The methodology for this report will focus upon both primary and secondary research methods which will be used to obtain the opinions of the asked passer. Needham et-al (2003) states that primary research mainly consists of data collected by an organisation, or individual, for their own purposes and are generally collated first hand from ‘the horses mouth’. Needham (2003) offers the opinion that the main methods of collating primary research are through conducting face to face interviews, telephone interview, questionnaires and through direct observations. Primary data can be either qualitative or quantitative. Qualitative research data tend to be more explanatory whereas quantitative is generally more descriptive. The main part of the research for this project will consist of one primary method, survey. The survey questioned passers within Princesshay to determine what they think about the Princesshay. This method has been chosen as it is easy method to collate considerable data and it is a relatively cheap method of collating the data. To ensure response rates were high, the passers were asked face to face. I have chosen to opt against a paper based system as Needham et-al (2003) offers the argument that response rates to postal systems are often as low as 30% and I feel this method may introduce bias to the overall conclusion. There the alternative option of personally distributing and collecting the survey’s for which Swetnam (2002) claims can increase the response rate to almost 70%. However given the short timescales for the project I only intend to sample the views of 20 people. Questionnaires are quite popular when collecting data, but are difficult to design and often need many drafts before having a final questionnaire. These drafts are called pilot questionnaires. Again because of the given short time scale I was only able design one pilot. It emerged that the questionnaire was too long. The final questionnaire was then amended by the KISS theory- keep it short and simple. Random sampling was used as non random sampling is impracticable and often very costly in terms of time. After collecting the primary data, the data was then exported into Microsoft Excel to provide a more professional presentation for this document in providing professional graphs and findings.

Secondary research
All methods of data collection supply quantitative data (numbers, statistics) or qualitative data (usually words or text). Secondary data is data that has already been collected by someone else for a different purpose as the investigator. Main methods that is used to for the collection of secondary data: Data supplied by a marketing organisation

Annual company reports
Government statistics / surveys
Academic surveys
Company data (payroll details, minutes of meetings, accounts of sales of goods or services)

Whilst theory is a crucial factor in academic learning and organisational success leading academics offer different views on it effectiveness. Saunders et-al (2003) explains that secondary research, especially academic journals, are the most important source for any research because they are evaluated by academic peers prior to publication therefore generally of good quality. Ghauri (1995) offers the opinion that secondary research is has there are...
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