business decision making by Koushik 100

Topics: Marketing, Sampling, Decision making Pages: 20 (4737 words) Published: January 22, 2015

Title: A Study on the Business Decision Making

Course Title: Higher National Diploma (HND) in Business Unit Title: Business Decision Making Student Name: Koushik
Group: B

Submission Date: 14/04/2014

Executive Summary
It is considered that initially the marketers needs to analyze the situation, Situation Analysis, to find out some opportunities to satisfy unfulfilled customer needs and also understand its capabilities and external (macro) and internal (micro) environment in which it is going to operate business. The customer is the heart of a business. So every company focuses on the customer preference. To know the customer preference most of the company do survey or observation on customers. Sometimes more than one company can be run in a place, as all companies have some demand on that market. But because of some barriers and financial problems they cannot run all the business. As a result they plan about beneficial project. That means which project is profitable. On the other hand some businesses want to know the feedback of customer about their own company and want to improve the services for the customers.

Table of the Contents
Lists of the Contents Page No
Executive Summary 2
LO 1. Be able to use a verity of sources for the collection of data, both primary and secondary5 1.1 Create a plan for the collection of primary and secondary data for given business problem5 1.2 Present the survey methodology and sampling frame used6

1.3 Design a questionnaire for given business problem7
LO 2. Understand a range of techniques to analyses data effectively for business purpose8 2.1. Create information for decision making by summarizing data using representative values8 2.2 Analyze the result to draw valid conclusion in a business context8 2.3 Analyze data using measures of dispersion to inform a given business scenario9 2.4 Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusion9 LO 3. Be able to produce information in appropriate for decision making in an organizational context10 3.1 Produce graph using spreadsheet and draw valid conclusions based on the information derived10 3.2 Create trend line in spreadsheet graph to assist in forecasting for specified business information10 3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectively11 3.4 Produce a formal business report12

LO 4. Be able to use software-generated information to make decision in an organization12 4.1 Use appropriate information processing tools12
4.2 Prepare a project plan for an activity and determine the criteria path12 4.3 Use financial tools for decision making13
M1. Identify and apply strategies to find appropriate solutions14 M 2 Select /Design and apply appropriate methods / techniques14 M3 Present and communicate appropriate findings15
D1. Take responsibility for managing and organizing activities15 D2. Use Critical reflection to evaluate own work and justify valid conclusions16 D3. Demonstrate convergent /lateral/creative thinking16 Conclusion16

In the era of technology everyone can do their business in every country. But there are some problems to operate every business in every place. For that reason the organization should plan for their project for the effective business. The Acorn co. ltd is a research institute which is doing a research for the Monmouth, Wahaca and hotel Russell to...

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