Title: A Study on the Business Decision Making
Course Title: Higher National Diploma (HND) in Business Unit Title: Business Decision Making
Student Name: Koushik
Submission Date: 14/04/2014
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
LO 1. Be able to use a verity of sources for the collection of data, both primary and secondary
5 1.1 Create a plan for the collection of primary and secondary data for given business problem
5 1.2 Present the survey methodology and sampling frame used
1.3 Design a questionnaire for given business problem
LO 2. Understand a range of techniques to analyses data effectively for business purpose
8 2.1. Create information for decision making by summarizing data using representative values
8 2.2 Analyze the result to draw valid conclusion in a business context
8 2.3 Analyze data using measures of dispersion to inform a given business scenario
9 2.4 Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusion
9 LO 3. Be able to produce information in appropriate for decision making in an organizational context
10 3.1 Produce graph using spreadsheet and draw valid conclusions based on the information derived
10 3.2 Create trend line in spreadsheet graph to assist in forecasting for specified business information
10 3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectively
11 3.4 Produce a formal business report
LO 4. Be able to use software-generated information to make decision in an organization
12 4.1 Use appropriate information processing tools
4.2 Prepare a project plan for an activity and determine the criteria path
12 4.3 Use financial tools for decision making
M1. Identify and apply strategies to find appropriate solutions
14 M 2 Select /Design and apply appropriate methods / techniques
14 M3 Present and communicate appropriate findings
D1. Take responsibility for managing and organizing activities
15 D2. Use Critical reflection to evaluate own work and justify valid conclusions
16 D3. Demonstrate convergent /lateral/creative thinking
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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