Unit 6 Business Decision Making Assignment in HND Diploma Business (GC0962)

Table of Contents

Introduction.

Task 1.

1.1 Plan for data collection.

1.1.1 Aims.

1.1.2 Objectives.

1.1.3 Research Question.

1.1.4 Data sources.

1.2 Survey methodology and sampling method.

1.3 Survey questionnaire design.

1.4 Justification of the data collection method.

1.5 Research reliability and validity.

1.6 Ethical consideration.

Task 2.

2.1 Create information for decision making.

2.2 Explanation of quarterlies.

2.3 Correlation.

Task 3.

3.1 Time series of graphs.

Bar chart

3.2 Trend line and Sales Forecast

Task 4.

4.1 Usefulness of NPV.

4.2 Calculation of NPV.

4.3 Suggestions.

Conclusion.

References.

Introduction

Effective use of business information plays an important role in making an effective decision for businesses. The aims of this report are to examine different sources as well as develop strategies related to four aspects of information: collecting data, storing data, presenting data through different tools, and maintaining data in making business decisions. This report focuses on four different tasks. Task 1 focuses on a variety of data collection sources including primary and secondary data. Task 2 outlines a range of data analysis techniques for business purposes. Task 3 emphasizes how businesses can produce information in the right formats for making effective decisions for businesses. Task 4 describes how to use software-generated information for making business decisions.

Task 1

1.1 Plan for data collection

1.1.1 Aims

The aim of this study and data collection is to determine the current market preference focusing on the case study of ASDA. First, this study will determine the possibility of the market shifting back from a big number of small and convenient stores. Second, the study will evaluate how sale revenue will be affected by including ‘click and collect’ and petrol stations. Then, this study will recommend the ASDA on making decisions for expanding its business.

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1.1.2 Objectives

To explore the present market situation of ASDA in the UK retail sector
To investigate the customer consumers behavior in the retail sector of the UK
To assess the consumer’s opinions in the preference of ASDA as their favorite brand
To analyze the effectiveness of smaller conveniences stores on sales revenue and profit

5. To recommend ASDA on making a decision for expanding its business in the UK market

1.1.3 Research Question

a) What is the possibility of opening a big number of small convenience stores for improving sales revenue in the UK retail market?
b) What is the impact of including ‘click and collect’ and petrol station on the sales revenue and profit in the UK retail market?

1.1.4 Data sources

According to Saunders et al. (2014) notes, for conducting research work on a particular topic both primary and secondary data sources can be used. Primary data sources are those from where the researchers collected data by himself/themselves. Secondary data sources are those where the data is already ready to collect. The researcher does not need to collect himself.

In this study, both primary and secondary data sources are used to meet the research and objectives. As a primary data source, this study uses a survey method, and as secondary data sources, this study uses books, journals, different websites including the ASDA website, and company annual reports, and other reports published by third parties such as World Trade Organisation (WHO). Primary research will be conducted to answer research question 1, and secondary research will be conducted to answer research question 2.

1.2 Survey methodology and sampling method

Survey methodologies are one of the effective primary data collection methods. This technique is mainly used for collecting quantitative data. Structured and close-ended questions are mainly used for conducting the survey. On the other hand, sampling is a technique that focuses on a number of individuals or groups of people to collect data on a particular research topic. Sampling is classified into two distinct groups: probability sampling, or non-probability sampling (Saunders et al., 2014).

In this study, a survey is conducted to understand customer opinion on the expansion of ASDA stores in the UK retail market. In this case, it is quite difficult to collect data from all of the people who live in the UK. Thus, this study uses a non-probability sampling technique, which uses 50 randomly chosen customers from different locations of central London. The target customer for conducting the survey are grouped as different age groups and sex. Among 50 participants, 25 are men and 25 are women. The age groups are categorized as 15-24, 25-34, 35-44, 45-54, and 55+, where 10 people come from each age group…………………….

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