...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”...
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...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”...
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...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 capability...
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...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 assignment...
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...Business Decision Making Assignment 1 Beatriz D’ Bayan Veronica Gamboa Table of Contents Business Decision Making 3 Task 1: 3 1.1 Collection of data 3 1.2 Survey Methodology 4 1.3 Questionnaire 6 Task 2 9 2.1, 2.2, 2.3 Interpret and conclude the calculation of the frequency distribution, mean, median mode, percentiles, quartiles and correlation coefficient, standard deviation, variance and coefficient of variation (for arrival time and service time data only). 9 2.4 The following task should be accomplished: 14 References 16 Appendices 17 Business Decision Making Task 1: 1.1 Collection of data 1 | Develop Plan | C.M ,T.H, B.D | June 23-27 | 2 | Conduct Observation | | June29 | | a. Develop Conclusion | C.M | | 3 | Research on sources | C.M , T.H, B.D | June 30-July 2 | 4 | Conduct Survey (Shakey’s & Pizza Hut) | C.M , T.H, B.D | July 3 - 9 | | a. Calculate Data | C.M , T.H, B.D | July 4-5 | | b. Interpret Data | C.M , T.H, B.D | July 5-6 | | c. Conclude Data | C.M , T.H, B.D | July 7-9 | 5 | Interview | C.M, B.D | July 10-13 | | a. Develop questionare | C.M, B.D | July 10 | | b. conduct Interview | C.M , B.D | July 11-12 | | c. transcribe interview | C.M, B.D | July12-13 | 6 | Derive Conclusion ofSurvey, observation, interview | B.D | July 14 | This study was conducted by way of a multi-question survey, which asked the survey responders about personal preference for two fast food establishments–Shakey’s and Pizza...
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...The Business of Making Money So you want to make more money, but you don’t know how? This might be the response of most business owners in America today. In taking this course I learned what’s been referred to as King rule, that is, total revenues-total cost= profit. That’s how we make decisions in the business world. It’s so simple and efficient. Because we wake up every morning for money, it’s important to know how to get money. It’s essential to understand the equation and that is why I see it only fitting to discuss King rule in this assignment. Whether you’re a merchant or in a service based business basic principles of accounting and economics hold true. Those principles make up the King rule equation. Business owners are constantly looking for growth to increase their profit. Growth in business is measured from the sales/services provided by company. Simply, sell more and you will make more money. This truth leads owners into thinking that they must increase sells to make more money. But that’s only part of the equation; there is the cost variable that needs to be accounted for. If the business cuts it’s cost, profits will increase as well. This is very simple math and an easily understood concept. The question I raise is, which is more important? I think many business owners want to increase their sales because they see bigger numbers that way. The bigger the numbers, the more money you make! So if you’re working to make money (all of us are), then increasing...
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...HNC Diploma in Business | Unit-10 Business Decision MakingD/601/0578 | A | | Assignment title | Business Decision Making | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the student is able to: | Task no. | Evidence | 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 framed used | | | 1.3 | Design a questionnaire for a given business problem | | | 2.1 | Create information for decision making by summarising data using representative value | | | 2.2 | Analyse the results to draw valid conclusions in a business context | | | 2.3 | Analyze 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 | | | 3.1 | Produce graphs using spread sheets and draw valid conclusions are based on the information derived | | | 3.2 | Create trend lines in spread sheet graphs to assist in forecasting for specified business information | | | 3.3 | Prepare a business presentation using suitable software and techniques to disseminate information effectively | | | 3.4 | Product a formal business report | | | ...
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...Business Decision Making Final Deborah Barnett QNT/275 09/28/2015 Tracy Sipma Business Decision Making Final The company that our team decided to use was the Honeywell Company, which is an aerospace division for global aftermarket services. This division repairs jet engines and other parts and processes around 1000 orders per week. The problem that we have found with this company is that it has what is called a “Hold Shelf”. This is where orders, products and information is stored or removed from the process. It causes a problem in the inventory and can be very costly. It also causes problems in variation. When these items get placed on the hold shelf then they are considered to be out of the inventory. In order to try and solve the problem we need to consider why these things are happening and what needs to be done to prevent it from happening again. First, we need to find out who is responsible for putting the orders on hold and not putting them back into the inventory. Then we need to find out the reason they are being put on hold. When items get cancelled someone should be responsible for seeing that it gets put back into the inventory instead of put on a shelf and left out of the inventory. Someone else could be looking to order that particular item and if it is not in inventory and sitting on a shelf then the company would be losing money. The sales would increase and the cost would decrease. Last week the data was broke down and we looked at the amount of time...
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...Report on Business Decision Making ( Prity) INTRODUCTION Because of the globalization everyone can do business wherever find profitable place or location, for technological development it become easier and accessible to do business one corner from another corner of the world. Although there is lots or benefits for technological advancement, for operating every business in every place there are some problem also. So for effective business organization should plan for their project. For market research, Abacus Research and Analytics (ARA) a research institute, this institute is going to do a research on consumer behaviors and attitudes towards Food Discount in Retailing by Wm Morrison in Greater London for providing the customer better services. This research will help the organization to take correct and concrete decision for the improvement of customer service for customer satisfaction. Amicus company ltd., Royal company ltd., and . Every company has some problem to operate business although these companies located in good places. These companies want to acquire customer satisfaction by improving customer services. So for better improvement in customer services, Abacus Research and Analytics (ARA) is doing a research for taking correct decision. Abacus Research and Analytics (ARA) collect their information from primary and secondary sources which are authentic as well as accurate, and necessary tools which are relevant to this research used to analysis and calculating data...
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...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...
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...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 values...
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...on making [Type the company name] | Assignment on Business Decision Making | [Type the document subtitle] | | acer | [Pick the date] | [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] | Table of Contents Introduction 2 Task 1-A 2 Primary Research Plan 2 Customer profile 3 Customer preference 3 Customer attitude and buying behavior 4 Data Collection Method 5 Sampling Techniques 5 Task1-B 6 Secondary Research Plan 6 Size of the market & Market structure 6 Competitors and their market share 7 Task 2 8 Summary of Collected Data and research findings 8 Data analysis 9 Study of correlation 9 Task 3 10 Report to senior manager 10 Health and wellness issues in the beverage industry 11 Task 4 14 Project Plan for the development of a new product 14 Resource Allocation 15 Project Costing 15 Business Analysis on the projected revenue and cash flow 16 Conclusion 17 References 17 Appendix 18 Introduction Star Bottling and packaging company is a medium sized business which is working for years in the UK market. Recently Star has decided to follow the diversification growth strategy by introducing a new product in a new market. The opportunity exists outside the current market. The beverage industry of UK is highly attractive and...
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...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 2 Business...
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...Assignment CoverSheet |Course/Unit Information | |Course |Pearson (Edexcel) BTEC Level 5 Higher National Diploma | |Unit No. |Unit 6 | |Unit Name |Business Decision Making | |Unit code |D/601/0578 | |Batch |BDM– 1501 | |Instructor Information | |Name |Ashutosh Pradhan | |Phone | | |Skype | | |Email |ash_68_in@yahoo.com | |Assignment Information...
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...Carmen Munsch Article Summary - “The Business of Making Movies” In recent years, the movie industry has gone through some very significant changes which has led to an increase in the cost of making movies. Some of these include increased production and marketing costs, the cost of piracy, the use of digital technology and the increase in different types of entertainment available to people. These and other factors have changed the types of movies that will be made. Movies are a significant source of income in the US as well as for many other countries. They are of great importance in reflecting cultures. It could also be argued that movies can incite change in the world. India leads the charge as far as largest number of films released followed by the US and China. In the US, the motion picture business is made up of six major studios. Some of these studios also own smaller subsidiaries that produce independent films. The number of these that are made available to the general public is very small. There are tens of thousands of independent films every year that never make it to the big screen. The process of making a movie includes six stages: development, pre-production, production, post-production, marketing and distribution and exhibition. This article focused on the first four stages. The producer of the movie is the person who has ultimate control of the project and is responsible for keeping the movie budget on track. The producer follows the film from...
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