Sample Report on Business decision making

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A Sample
On
BUSINESS DECISION MAKING
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TABLE OF CONTENTS
INTRODUCTION..........................................................................................................................4
TASK 1: Sources to collect Primary and secondary Data.......................................... 4
1.1...............................................................................................................................................4
1.2...............................................................................................................................................5
1.3...............................................................................................................................................5
2.1...............................................................................................................................................6
2.2...............................................................................................................................................8
2.3...............................................................................................................................................9
TASK 2: Business Presentation and Formal Report...................................................10
3.1............................................................................................................................................10
3.2............................................................................................................................................15
3.3............................................................................................................................................15
4.1............................................................................................................................................16
4.2............................................................................................................................................17
4.3............................................................................................................................................19
CONCLUSION .......................................................................................................................... 20
REFERENCES ...........................................................................................................................22
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INTRODUCTION
Business decision making is the procedure by which firms identify he
most appropriate option that is available in front of them so as to enhance
the business. These decisions aids towards increasing the overall
profitability and productivity thereby leading to growth and greater
sustainability of firm. The current study is based on opening of new
restaurant chain in London.
In order to assure the feasibility of project market research will be
conducted. Furthermore, report will indulge collection of primary data and
secondary for analysing the market for restaurant. In addition to that,
various statistical tools and techniques will be utilized so as to aid towards
generation of accurate business results.
TASK 1: Sources to collect Primary and secondary Data
1.1
Data collection any research can be done by making use of primary and
secondary data. As per the given case scenario, the company is plaining to
expand its current business and also wishes to open a fast food chain in
London. Hence, data collection for the same can be done by making use of
primary and secondary data collection techniques (Hoffman, 2007).
Primary data is a set of those facts and figures which is collected by
the researcher for first time. It is based on the observation of researcher and
directly from the respondents in most of the cases. Furthermore, researcher
can collect prime facts through surveys, interviews, direct observation and
questionnaire etc (Ferrell and Fraedrich, 2014). According to the case,
primary data in this research report will be collected through survey
methodology. In addition to that, in order to acquire positive feedbacks from

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the target group a questionnaire will be prepared and distributed to the
group of people.
On the other hand, secondary data can be termed as the information
already collected for a different purpose. It can further be utilized by
researcher for current study. It is also require to be noted that Primary
collection data leads to a lot of time consumption but secondary data uses
less time followed generating crucial information for the researcher. In the
present case, secondary data can be collected through several methods such
as online article, blogs, publishers etc.
1.2
Survey methodology
In general terms, surveys are the most prominent technique in order to
gather accurate information. In addition to that, data that has been collected
by making use of primary study is correct and feasible to be used. In this
regard, by making use of survey method, firm can assess the needs and
wants of consumers thereby providing them products and services
accordingly. According to the given case, through survey methodology
company can acquire essential information about expanding restaurant.
Furthermore, these facts and figures are likely to play a crucial role towards
opening up a new restaurant in London. The most effective way to use
survey methodology is to spread questionnaire about the research because
information collected through this method will be most accurate and play a
huge role in making decision regarding expanding restaurant business
(Weygandt, Kimmel and Kieso, 2009).

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Sampling frame
In general words, sampling frame can be defined as a set of those
eloemnts which assist the researcher for selection the most appropriate
population group from entire set. As per the given case scenario,
management wishjes to target those cobnsumers who are regular consumers
of fast food. Hence, choden sample will aid in generating vlaualve
inofrmation about taste preference soas to open up a customers oriented
restaurant (Morato, 2013).
The above statistical description clearly depicts the area related to
sales and profit figures of of restaurant chain. From the figures it can be
assessed that the average sales earned by firm during last year has been
706.5 million. On the other hand the profit figures are in 75 million. In the
given case, averages sales and profits have been done by mean. In the same
way, median of sales and profits stands to be around 685 and 75 million
respectively. Standard deviation of the sales and profits that has been
calculated is found to be relatively low. This indicates that the data is
accurate. Furthermore, standard deviation of sales and profit are 128 and 12.

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2.2 conclusion of the summarized data
Conclusion: on the basis of above information it can be concluded
that restaurant business sales and profits over the last ten years are shows a
volatile trend. In few years it tends to increase while in few years it shows a
decline trend. Therefore, profits also tend to volatile in the market according
to the sales changes. Therefore, it can be said that restaurant business has
greater chance of success in UK. Through satisfying the customer needs on a
regular basis company can increase their revenues in term of sales. This in
turn resulted in increased the business profitability. Therefore, the
organization will be able to ensure long term business success and business
growth. Due to increase the turnover and profits new entrepreneurs can
enter into the market. Therefore the competition level became very high for
the businesses. Therefore, it is considered advisable that business has to
provide qualitative food products according to the customer desires as
reasonable rates.
2.3
Measure of dispersion
Measure of dispersion can be regarded as a technique by which
differences between data of central propensity and of entire population is
calculated. Furthermore, this method includes evaluation of variation,
standard deviation as well as range (Joyce and Woods, 2003). In other words,
it assists in understanding the effects of investors and analyst beliefs on
securities trading.
* Variance – Variance aids to assess the range of a set of number. Zero
variance assists in presenting the homogeneous values. It is non-
negative in nature (Molloy, Siemieniuch and Sinclair, 2009).
Furthermore, small variance suggests that overall information or data
is nearby the value of mean. On the other hand, the presence of higher

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variance depicts that the data is spread around the mean and is
equally far from each other.
On the basis of figures given above sample sales variance is
16511.3888888889 and profit is 144.8888888889. It indicates that
restaurant business sales and profits amount is very volatile from the mean
values.
Standard deviation – In statistical context it can be stated that
standard deviation is calculated similarly as variance (Smith and Rupp, 2003).
Furthermore, the main aim of computing standard deviation is to evaluate
the distribution pattern of overall population in the chosen sample. Moreover,
it is calculated as per the value of the mean. The main purpose to use
standard deviation is for identifying the variances of population through
statistical mean.
The standard deviation of the business sales and profits are
128.4966493294 and 12.0369800568. Thus, it shows a significant difference
between the average business sales and profits.
* Range – range aids to is to identify as well asess the difference that is
present between highest and the lowest value of population.
Range = Maximum value – Minimum value
Range of sales = 935 – 555 = 380
Range of profits = 95 – 59 = 36
2.4
In order to make useful conclusion managers can undertake the
methods of quartiles, percentiles and the correlation coefficient etc.
Therefore, quartile assist in dividing the overall population into 4 parts
(Glisson and Chowdhury, 2002). Furthermore, each quartile represents

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quartile information which can be define as the information shown in four
different segments. On the other hand, percentile is utilized for identifying
and evaluating the score for non referenced tests. Furthermore, its
application is only for numerical variables like income and weight etc.
Correlation coefficient is done to find out the existence of relationship
between 2 or more variables. It further aids in defining the dependency of
variables on one each other. Correlation coefficient can be zero, negative or
positive (Ye, 2008). Furthermore, zero correlation assist in identifying that
variable are independent. Positive correlation can be defined as the increase
in one variable will also make increase in another variable. On the other
hand, if there is decrease in one variable than it will make decrease in
another variable too. Moreover, negative correlation offers adverse
relationship between two variables. In this case, the variable which is
dependent will decrease because of increase in primary or dominant
variable whereas; dependent variable will increase if there is decrease in the
primary variable.
Quartile and Percentile
This is a Sample Report On Business
Decision Making
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In the present case it can be stated that there is a positive relationship
between sales and profit because, as there is increase in sales, profit of the
firm also increases. Value of correlation coefficient in sales and profit is 0.98
which indicates that there is intense relation.
TASK 2: Business Presentation and Formal Report
3.1
Pie charts:
Soups:

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Bar graphs:
Fried Food:
Starter

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Desert & Ice Creams:
Soups:

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Evaluation
By the means of above computation, management consultant
identified that, there are more chances of the new venture to earn profits in
spite of being a new to the market. Food and beverage sectors fluctuation
can be seenpany to meet customers need and accordingly offer the range of
food and beverages items. Furthermore, forecasting of future actions are
based on the data collected by the respondents.
INTRODUCTION AND TERMS OF REFERENCE:
Decision Making
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In the present report, feasibility and reliability of new venture
investment has been focused. Researcher aim at providing detailed
information regarding all the approach by the means of which project
feasibility can be judged and maintained.
METHODOLOGY:
With the help of graphical presentation, expected performance of
business operations can be easily evaluated. Furthermore, it will be
very fruitful for the restaurant company to identify and evaluate the
desired outcomes (Byrne, McAllister and Wyatt, 2011).
Through the graphical presentation it has been clearly stated that
opening a new restaurant will assist company to generate effective
and efficient outcomes.
In addition to that, variety of season will increase the demand for food
and also enhance the operations of business enterprProperty and
Construction. 16(3). pp. 249 – 271.
ise by providing wide range of products and services.
Further, undertaking investment appraisal techniques will assist
manager in evaluating reliability and suitability of project for the future
investment.
FINDINGS:
However, outcomes of trend lines and scatter graphs suggest that new
chain of restaurant is very much capable of generating profits by
fulfilling taste and preferences of customers in the new area (Khoury
and Analoui, 2004).

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Management of restaurant should focus on maintaining the quality and
quantity of food because it is the only reason people will be forced to
come again and enjoy the services of restaurant.
Through the help of NPV and IRR, researcher has identified that Project
A is feasible for the management of Restaurant Company to invest in
as it will help them in achieving better profits in near future.
.
4.1
Managing information system
Managing information system assist in providing the information that
plays a vital role in managing the activities of business in order to attain
desired outcome. In general terms, they are the set of computers designed
typically for the use of top level management in order to effectively and
efficiently manage the business operations (Rohrich, 2007). Furthermore, MI
system comprises of several components such as hardware, software,
information, processes and human resources. The main aim of this software
is to provide accurate and suitable information to the management so that
they can make decisions regarding future contingency of the firm's activities.
Decision Making
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In context to that, it is used for analyzing and forecasting future strategies
and methods. The major role of management information system is to
concentrate on evaluating firm's information and technological aspects
(Byrne, McAllister and Wyatt, 2011). MIS assist in identifying the issues
regarding business operations and according to that design and maintains
computer applications in order to resolve the business conflicts.
According to the case, if the management of restaurant business
indulges management information system into their operations than they
can easily manage and control wide range of activities effectively and
efficiently in order to achieve desired goals and objectives. Furthermore,
through this software company will be assisted in attaining updated
information on proper time so that decision can be made effectively.
Moreover, it will assist in removing several obstacles and conflicts of the
organization and along with that it will enhance the overall business
operations performance. In addition to that, MIS will also enhance the
decision making power of management.
4.2
Investment Appraisal Techniques
Business investment is key element in order to sustain firm for a longer
period of time. In order to make feasible investment for future functioning
top level management of Restaurant business have to critically evaluate the
feasibility of investment projects (Morato, 2013). There are various
techniques that can assist a finance manager to identify and evaluate the
most suitable option. Net present value is the most suitable technique in
order to get best results because it considers the time value for money and
along with that, inflow and outflow also. Net present value is calculated in
order to attain the present value of the project and on that basis future
decisions can be made. In general terms, the project which having highest

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NPV is considered to be the most appropriate and suitable option for the
company to invest their financial resources. According to the present case,
suitable option can be calculated on the basis of net present value. For
instance inflow for two projects are given as follows:
Year Project A Project B
2014 420 510
2015 470 590
2016 485 630
2017 560 680
Initial investment for the projects are as follows:
Project A = 10,00,000
Project B = 15,00,000
whereas, present value for money is 10% per annum.
furthermore, duration of accomplishment of project will be calculated
through the longest path of network and that is as follows:
Commercial Training. 45(4). pp. 222 – 229.

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Figure 1: Network Diagram
CONCLUSION
In conclusion to the above report it can be evaluated that, decision
making in a business is one of the most significant aspect of the overall
functioning. However, it is the responsibility of senior managers to ensure
that smart and effective judgement are made regarding the functioning of
business so that desired results and outcomes can be achieved. In the
present report, restaurant chain is planning to open a new venture and for
that researcher has evaluated most feasible investment proposal by using
investment appraisal techniques as well as using descriptive statistics for
measuring the financial aspects of the project. Therefore, in conclusion it can
be stated that, opening a new chain of restaurant at London is feasible
because it will help company in generating higher returns and ensure
sustainability.

18
REFERENCES
Journal
Appelbaum, H. S. and et. al., 2013. Participation in decision making: a case
study of job satisfaction and commitment (part one). Industrial and
Commercial Training. 45(4). pp. 222 – 229.
Argouslidis, C. P., 2008. Determinants of the speed of elimination decision
making in financial services. Journal of Services Marketing. 22(3). pp.
237 – 254.
Khoury, C. G. and Analoui, F., 2004. Innovative management model for
performance appraisal: the case of the Palestinian public universities.
Management Research News. 27(½). pp. 56 – 73.
Molloy, M. E., Siemieniuch, C. and Sinclair, M., 2009. Decision‐making
systems and the product‐to‐service shift. Journal of Manufacturing
Technology Management. 20(5). pp. 606 – 625.
Decision Making
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Sample Report on Business decision making

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