Premium Essay

Business Decision Making

In: Business and Management

Submitted By angelchan
Words 1570
Pages 7
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


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


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 gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Grade Descriptor M1 Identify and apply strategies to find appropriate solutions Indicative characteristic/s Contextualisation To achieve grade M1, you need to demonstrate through effectively to create and interpret the collected primary, secondary data and information, use appropriate...

Similar Documents

Premium Essay

Business Decision Making

...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......

Words: 1947 - Pages: 8

Free Essay

Business Decision Making

...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......

Words: 4134 - Pages: 17

Premium Essay

Business Decision Making

...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...

Words: 1394 - Pages: 6

Free Essay

Business Decision Making

...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......

Words: 679 - Pages: 3

Premium Essay

Making Business Decisions

...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 (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......

Words: 536 - Pages: 3

Free Essay

Business Decision Making Project

...QNT 275 Business Decision Making Project Final Project Throughout the last five weeks, Learning Team B has researched and gathered descriptive statistics pieces of equipment for Darrin Compton’s future small bakery or café. Darrin Compton is starting a bakery/café. Darrin relayed that news to Learning Team B. Learning Team B decided it would be a good class long project to research and discuss. Each member was assigned a specific type of kitchen equipment for Darrin’s new bakery. The equipment list is as follows: Convection Oven, 10 Gallon Tilting Kettle, 20 quart mixer, 60 quart mixer, a walk-in refrigerator, and a walk-in freezer. From that point, the team worked individually; only consulting with the team and Darrin after we had developed a good piece of research for a specific piece of equipment. Once all of the equipment was sufficiently researched and vetted, the team compiled all of the information in discussion board posts. Equipment for Research: 1) Double Stack Convection Oven 2) Groen 10 gallon Tilting Kettle   3) 20 qt. Mixer 4) 60 qt. Mixer 5) Walk-in Refrigerator 6) Walk-in Freezer Above is the equipment the team researched and developed a solid idea of what was a good price, warranty, shipping estimates, and quality. Some data you can infer from reading reviews and ratings on the various researched websites. How fast do the suppliers ship the equipment? Are the pieces of equipment ready to be shipped? Will the equipment be in...

Words: 1026 - Pages: 5

Premium Essay

Business Decision Making Process

...East end Computing & Business College Assignment Title: Unit-6: Business Decision Making Submitted To Submitted By Name: Id: Date of Submission: Table of Contents Introduction 4 Assignment One 4 Q1. A plan for the collection of primary and secondary data for the above scenario 4 Q2. Present the survey methodology and sampling frame used 5 Q3. Design a questionnaire to know the opinion of students and staff on the matter 5 Q4. Create information for decision making by summarizing data using representative values 7 Q5. Analyze the results to draw valid conclusions in the above scenario 9 Q6. Produce graphs using spreadsheets and draw valid conclusions based on the information derived from the survey 10 Q7. Create trend lines in spreadsheet graphs to assist in forecasting so that the college management can forecast what they need to spend in the future 12 Q8. Prepare a business presentation using Microsoft PowerPoint and give a presentation to disseminate information effectively on your findings 12 Q9. Produce a formal business report 12 Assignment Two 13 Q1.a) A frequency table with a class interval of 5 13 Q1.b) Calculation of mean, variance and standard deviation 14 Q1.c) Score corresponds to 50% percentile 17 Q1.d) Calculation of the location of third quartile 17 Q2. Calculation of the Karl Pearson’s co-efficient of correlation between monthly income (in hundreds of pounds) and monthly telephone bills (in......

Words: 3515 - Pages: 15

Premium Essay

Research Process In Business Decision Making

...INTRODUCTION A research can be defined as a systematic way of gathering data, recording it and analyzing it further to guide business decision making. A research is mainly done to handle uncertain decisions and uncontrollable situations. A research always helps the managers in providing useful and timely information. The main purpose of any research is to provide accurate, timely, appropriate and relevant information to the top management for further decision making. A research is mainly done to discover new knowledge or interpretation and establish facts in a particular field. The research process involves various steps that helps the organization to investigate a problem or look for an opportunity facing the organization. The steps...

Words: 1002 - Pages: 5

Premium Essay

Model for Ethical Decision Making in Business

...J Bus Ethics (2011) 104:311–323 DOI 10.1007/s10551-011-0910-1 A Model for Ethical Decision Making in Business: Reasoning, Intuition, and Rational Moral Principles Jaana Woiceshyn Received: 11 February 2011 / Accepted: 16 May 2011 / Published online: 28 May 2011 Ó Springer Science+Business Media B.V. 2011 Abstract How do business leaders make ethical decisions? Given the significant and wide-spread impact of business people’s decisions on multiple constituents (e.g., customers, employees, shareholders, competitors, and suppliers), how they make decisions matters. Unethical decisions harm the decision makers themselves as well as others, whereas ethical decisions have the opposite effect. Based on data from a study on strategic decision making by 16 effective chief executive officers (and three not-soeffective ones as contrast), I propose a model for ethical decision making in business in which reasoning (conscious processing) and intuition (subconscious processing) interact through forming, recalling, and applying moral principles necessary for long-term success in business. Following the CEOs in the study, I employ a relatively new theory, rational egoism, as the substantive content of the model and argue it to be consistent with the requirements of longterm business success. Besides explaining the processes of forming and applying principles (integration by essentials and spiraling), I briefly describe rational egoism and illustrate the model with a contemporary moral...

Words: 10524 - Pages: 43

Premium Essay

Information and Knowledge for Business Decision Making

...Knowledge for business decision making. Knowledge is a very important factor inside and outside of the business world. You need it to get through all aspects in life quickly and efficiently. Without knowledge many things that someone or even a business will try to do may not be a good decision for themselves or their business. There are many benefits when knowledge is incorporated into daily decision making. You can solve problems better with knowledge than using a guess and check method. In a business stand point you can improve customer service, processes, product management, innovation, and intellectual capital. The interesting fact of the chapter was the discussion on the Knowledge Management Process. This process consists of creation, capture, codification, storage, retrieval, transfer, and application. All these categories are very vital when gaining knowledge in any aspect. When these steps are executed in the correct manner, there should be no problem with managing the knowledge you’ve gained. When gaining or creating knowledge, there are also steps you can take to do this accurately. You first need to socialize. Get to know people or things and interact with them to gain information. Externalize your opinions to get other input from peers or mentors. Then combine the input you have received with the social interactions. Finally, internalize it; take action upon what you’ve learned and put it to use. With all of this information and knowledge for decision making......

Words: 305 - Pages: 2

Free Essay

Business Decision Making Ahmed R Full

...Qualification Level 5 Edexcel BTEC Higher National Diploma in Business (QCF) Unit 6 Business Decision Making – 15 credits Please submit assignment electronically to your Examination Officer at You will receive a submission receipt which you should retain for your own records. Assignment 1 will give learners the opportunity to achieve: Learning Outcome 1 - Be able to use a variety of sources for the collection of data, both primary and secondary Learning Outcome 2 - Understand a range of techniques to analyse data effectively for business purposes Learning Outcome 3 - Be able to produce information in appropriate formats for decision making in an organisational context Learning Outcome 4 - Be able to use software-generated information to make decisions in an organisation. Criteria reference To achieve the criteria the evidence must show that the learner is able to: Task No Page numbers 1 a) create a plan for the collection of primary and secondary data for a given business problem. Interview, questionnaire. b) present the survey methodology and sampling frame used. c) design a questionnaire for a given business problem 2 a) create information for decision making by summarizing data using representative values. (table w/ info summarize) b) analyse the results to draw valid conclusions in a business context c) analyse data using measures of dispersion to inform a given business scenario (median, mode, standard deviation…) d) explain how......

Words: 3013 - Pages: 13

Premium Essay

Paragon Tool Business Decision Making

...another knowledgeable CFO to replace him. Another issue brought up in the case is upper management not being unanimous in the approval of this merger. To have any chance for success in this merger, all the upper management has to agree on it because the employees will pick up on any hesitation and it could send the whole process awry. PART II: Using a minimum of 200 words each answer the following questions. (50 Points) 1. Why might Paragon Tool want to pursue acquisition of MonitorRobotics? What are the associated risks? Paragon would want to acquire Monitor to expand its current business capabilities as well as acquire new assets both in human capital and in machinery. The risks could include the chance of failure of the merge, in which case Paragon Tools would be worse off and have to downsize to save its self. Which means people losing jobs, and the company possibly losing business too. 1. Are there other options for growth that Paragon Tool should consider?...

Words: 857 - Pages: 4

Premium Essay

Decision Support System Aims to Support Better Business Decision-Making in Telecom Sector of Pakistan

...DECISION SUPPORT SYSTEM AIMS TO SUPPORT BETTER BUSINESS DECISION-MAKING IN TELECOM SECTOR OF PAKISTAN Thesis Presented to the Faculty of INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY In Fulfillment of the Requirements for the Degree of Master of Business and information technology By Muhammad Taimoor Khalid F09MB023 Contents DECLARATION 6 ACKNOWLEDGEMENTS 7 Executive Summary 8 INTRODUCTION 9 Decision Support System 10 Telecommunication Sector in Pakistan 13 PROBLEM DEVELOPMENT 14 Significance of the study 15 Study Objectives 15 Research Research Query#s 15 Relevant Variables 16 Dependent variables: 16 Independent variables: 16 Research Hypothesis 16 Hypothesis # 1 16 Hypothesis # 2 16 Hypothesis # 3 17 Hypothesis # 4 17 LITERATURE REVIEW 18 “ 21 “ 21 (Business psychology and organisational behaviour 21 “ 22 “ 22 RESEARCH METHODOLOGY 23 Introduction to chapter 24 Research Design: 24 Purpose of research 25 Data Processing and Analysis 25 Primary and Secondary data 25 Regression Equation 26 Comparative Analysis 28 Dss and Comapny 28 Respondent age 28 Respondent sex 29 Respondent Work Experience 29 Respondent Qualification 30 Research Query’s Analysis 31 Research Query# 1 31 Research Query# 2 31 Research Query# 3 31 Research Query#......

Words: 8176 - Pages: 33

Premium Essay

Decision Making Style of Business Manager in Ho Chi Minh City

...VIETNAM NATIONAL UNIVERSITY – HCMC INTERNATIONAL UNIVERSITY SCHOOL OF BUSINESS DECISION MAKING STYLES OF BUSINESS MANAGERS IN HO CHI MINH CITY In Partial Fulfillment of the Requirements of the Degree of BACHELOR OF Business Administration Advisor: PHAN TRIEU ANH, Ph.D. Student’s name: DO TIEN THINH (BAIU08113) Ho Chi Minh City, Vietnam, 2012 i DECISION MAKING STYLES OF BUSINESS MANAGERS IN HO CHI MINH CITY APPROVED BY: Advisor Committee APPROVED BY: Phan Trieu Anh, PhD., Chair ……………………………… ……………………………….. ………………………………. THESIS COMMITTEE (whichever applies) ii ACKNOWLEDGMENTS First and foremost, I wish to register my great thanks to (Almighty) Jehovah, the true God who strengthen my soul and spirit, and save me from being lost. I would like to show my sincere thanks to my supervisor, Dr. Phan Trieu Anh for his brilliant support, and precise advices. I would like to express my deepest gratitude to my family who has supported me a lot. My sincere appreciation also goes to my professors and lecturers at School of Business Administration, International University for teaching and training me during these four years. It would be a huge mistake if not mentioning my sincere appreciate to Miss Nu Hanh and all my friends who support me a lot during the semester that I had been doing my thesis. Last but not least, I would like to give my thanks to members of CIU, a small group bible study, who encourage me a lot. iii TABLE OF......

Words: 15684 - Pages: 63

Premium Essay

Business Decision Making


Words: 1303 - Pages: 6