A Sample Report

On

BUSINESS DECISION
MAKING

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 TABLE OF CONTENTS
INTRODUCTION ...........................................................................................................................4
TASK 1 ............................................................................................................................................4
Plan for primary and secondary data collection measures presenting the survey methodology
& sampling frame ................................................................................................................... 4
Design a questionnaire and provide a justification ................................................................ 5
Data Collection and summarization using representative value ........................................... 7
Data analysis using measures of dispersion ......................................................................... 10
Computation of quartiles, percentiles and correlation coefficient to draw valid conclusions for
XYZ restaurant ..................................................................................................................... 11
TASK 2 ..........................................................................................................................................13
Representing graphs using spreadsheets to make constructive decisions ........................... 13
Project planning process ...................................................................................................... 17
.............................................................................................................................................. 18
.............................................................................................................................................. 18
Use of financial tools for decision making .......................................................................... 18
Presentation of Business Report........................................................................................... 19
Formal Business Report of XYZ restaurant ......................................................................... 19
CONCLUSION ..............................................................................................................................20
REFERENCES ..............................................................................................................................21

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 LIST OF FIGURES

Illustration Index

LIST OF TABLES

Index of Tables
Table A: 10 years analysis of Sales and Profit figures of the XYZ restaurant ..............................10
Table B: Prescriptive statistics .......................................................................................................11
Table C: Calculation of Quartile and Percentile ............................................................................12
Table D:Calculation of correlation between sales and profit.........................................................12
Table E: NPV calculation ..............................................................................................................19

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INTRODUCTION
Business is a dynamic process of making various decisions. The process of decision
making demands the effective use of sources and information. The efficient use of these sources
helps the business organization in making the good and effective decisions. Ineffective business
decisions cost high cost and time for the organizations (Hacklin and Wallnfer, 2012). The vast
range of decisions varies in terms of expansion, location and revenue generation practices.
Present report focuses on the detailed and effective analysis of the decision making process for
the restaurant expansion plan in London. To achieve the purpose of opening the second
restaurant chain, management analyzes and reviews the prospect through a range of data
collected by means of primary and secondly data collection measures (Garca-Pealvo and
Conde, 2014). The data collected from the market research helps the firm in analyzing the
feasibility of the business decisions. The study attempts to draw the effective conclusions and
recommendations to help the owner of the restaurant with feasible decisions.

TASK 1
Plan for primary and secondary data collection measures presenting the survey methodology &
sampling frame
Market research is the process of gathering, analyzing, interpreting information about the
market. This helps the business organizations in taking the effective and efficient means of
decisions. The present XYZ restaurant is planning to open a new chain in London. For the same
purpose the organization decided to carry out a market research to collect the effective and
authentic information for analyzing the past, present and future prospect of the industry and
make the growth and expansion decisions on the basis of the same (Drew and White, 2011). To
collect the efficient information from the market, the organization decided to use the primary and
secondary sources of data. These sources will help the firm in providing the reliable information.

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Both the sources will prove to be the crucial part of data collection as these will help the XYZ
restaurant in collecting efficient data to draw the significant conclusion and recommendations.

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In order to achieve the objective of the study. The primary sources of data that will be
used by the organization is Questionnaire, Surveys and observation method. Surveys by means
of effective and efficient questionnaire will help the organization in analyzing and evaluating
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consumer tastes, preference and pricing options (Williams, 2001). The sample size of 30
respondents including the existing as well as the prospective consumers of the restaurant will be
selected and surveyed. The questionnaire will contain the effective open and close ended
questions which will provide effective data to the enterprise. This information will be use and
presented in order to draw conclusions of various decisions regarding consumers tastes and
preferences and pricing strategies (Weygandt and et. al., 2009.). The secondary data however
will include the financial reports, books and journals that will provide the effective and essential
information on trend and industry analysis to develop the effective and strategical competitive
plan.

Design a questionnaire and provide a justification

1. Gender
Male

Female

2. Marital Status
Single

Married

Divorced

3. Age level
16 - 30 years

30 - 50 years

Over 50 years

4. Monthly Income ()

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 Below 15,000

15,000 - 30,000

31000 - 45,000

Above 45000

5. How often do you eat in a restaurant?

Regularly

Often

Rare

Very rare

6. While going to a restaurant which criteria are important?

Ambiance

Concept

Quality

Services

Price

7. Which type of restaurant would you prefer?

Regional food

Junk food

Beverages

Any other specify,

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8. What time you prefer to visit a restaurant?
Breakfast

Brunch

Lunch

Dinner

9. How would you prefer the food to be crafted?

Simple

Crafted

Flavourful

10. What would attract you, if below options are considered as the part of the restaurant?
Music

Regional Theme

Refreshment services

Host book clubs

Others please specify

Data Collection and summarization using representative value

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 Age
37.5%
0.4 25.0% 20.0%
17.5% Ag e
0.2
0
26-35 y ea rs Abov e 50 y ea rs 0.0%
16 25 y ea rs 36-50 y ea rs

From the data analysis it can be seen that the highest respondents of the questionnaire
survey belongs to the age group of 16-25 years. These form 35% of the total respondents. The
evaluation has shown that in London, this age group has the maximum outings and thus they
form major focus for XYZ restaurant.

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 Data analysis of this primary data represents that 50% of the respondents of the total
respondents are the ones who regularly visits the restaurants Thus have specific and efficient
knowledge of the changing tastes and preferences. Thus, management can rely of this data for
planning and development process.

In the data analysis of primary data it is found that 40% of the respondents belongs to the
income group of 15000- 3000 per month following with 30% respondents having income
below 15000 per month. This represents that major part of the respondents belong to middle
income group. The restaurant has efficient scope to target this income group.

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 The data analysis of primary data collection represents that 35% of the total respondents
chose quality as the most preferable criteria of selecting a restaurant to dine. Ambiance and price
followed the mentioned. This clearly depicts that XYZ should manage and maintain the quality
of food and services of the upcoming food chain in order to attain success.

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 The data analysis of primary data collection represents that 50% of the total respondents
chose regional food as the food preference. Junk food and beverages are much behind it. Thus,
XYZ restaurant should design and maintain its menu with effective regional food choices.

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 The data analysis of primary data collection represents that 40% of the total respondents
of the questionnaire chose music as the preferable element of services provided. The theme of
the restaurant, refreshment services and book hub are the less preferred elements.

Data analysis using measures of dispersion

Table A: 10 years analysis of Sales and Profit figures of the XYZ restaurant

Year Sales () Profit ()

2005 250000 9000
2006 285000 12500
2007 315000 18000
2008 400000 21500
2009 450000 25000
2010 450000 25550
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 2011 512000 32000
2012 540000 32000
2013 555500 34500
2014 589000 38500

Table B: Prescriptive statistics

Sales () Profit ()

Mean 43465 24855

Median 45000 25275

Mode 45000 32000

The above data represents the descriptive statistics in order to efficiently analyze the
financial figure of last 10 years of XYZ restaurant. This measure provides the effective
evaluation of the data the measure has used the mean median and mode method. This helps in
Analyzing and evaluating the data into statistical terms.
The above table represents that the mean value of sales and profit of the restaurant is
43465 and 24855 respectively. This depicts that the restaurant's average sale and profit figures.
This helps the firm in analyzing the capacity of the organization in terms of profit and sales.
Median of the firm being 45000 and 25275 respectively represents that the organization has
enough capability to generate the sales and profit as mentioned. This represents the central value
of the data which depict the most feasible evaluation of the data analysis. It shows that the
restaurant has 50% higher value than the mentioned figure. Moreover, the data represents that
45000 and 32000 are the respective modes of the sale and profit figures of the organization.
These figure depicts the most repetitive figures of data. Thy helps in understanding that XYZ
restaurant is able to achieve the mentioned sales and profit figure repetitively. This interpret the
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capability of the organization. Therefore, by using the above data it can be efficiently concluded
that the organization has bright and positive prospects of growth.

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Computation of quartiles, percentiles and correlation coefficient to draw valid conclusions

for XYZ restaurant

QUARTILES

Sales () Profit ()

Quartile 1 33625 18875

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 Quartile 2 45000 25275

Quartile 3 53300 32000

PERCENTILE
25th Percentile 33625 18875

50th Percentile 45000 25275

75th Percentile 53300 32000

Table C: Calculation of Quartile and Percentile

Above table represents the quartile and percentile of the above data. These are the
measures used to describe the effectivity of the organizational operations. These helps in drawing
the efficient conclusion in order to generate the feasible business decisions.

Quartile: This method of statistical representation divides the data into four equal part in order to
provide the effective demonstration of data (Prieto and Revilla, 2006). The data of XYZ
restaurant reflects that the computed data has the efficiency of growth. The data represents that
33625 and 18875 is the respective data of Quartile 1. 25% of the data figures are less than the
mentioned range. In a similar way, Quartile 3 represents the sales and profit figures to be 53300
and 32000 respectively. The data shows that 75% of figures are more than the mentioned data.
Thus it can be concluded that XYZ has efficiently performed in last 10year and the data of the
organization efficiently reflects the same.

Percentile: This measure is similar to qualtile method with the minor difference that here the
data is not divided int four equal parts but on the basis of percentage. The current data

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represents that 50% value of sales and profit demonstrated in the table which is 45000 and
25275 respectively is higher.
Sales Profit
Sales 1
Profit 0.991247402 1

Table D:Calculation of correlation between sales and profit

Correlation:This method is used to represent the relationship between two variable of the given
data (Measures of Central Tendency and Dispersion, 2013). This helps in understanding the
effect dependence of one data on the other. The present table demonstrates the relationship
between sales and profit of XYZ restaurant. The value of correlation between both the variables
is 1 which represents the direct and strongly positive correlation between them.

TASK 2
Representing graphs using spreadsheets to make constructive decisions

Row range Count of Sales

25,000-26,999 1
27,000-28,999 1
31,000-32,999 1
39,000-40,999 1
45,000-46,999 2
51,000-52,999 1
53,000-54,999 1
55,000-56,999 1
57,000-58,999 1
Grand Total 10

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 Histogram is the statistical measure to develop a graphical representation of the given
data (Hsu and Chiu, 2008). This method helps in understanding the efficiency and effectivity of
the data distribution. The above histogram represent the sales revenue of XYZ for 10 years. This
data helps in analysing the efficiency of the data representation. It can be clearly seen that the
organization is efficient enough to produce the sales within the range 45000- 46999 twice. This
reflects the efforts of the organization in field of consumer services and quality food services.
Row Range Count of Profit
9,000-9,499 1
12,500-12,999 1
18,000-18,499 1
21,500-21,999 1
25,000-25,499 1
25,500-25,999 1

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 32,000-32,499 2
34,500-34,999 1
38,000-38,500 1
Grand Total 10

Histogram for profit represents that the profit range of the organization for 10 year span
of time period (Hedgebeth, 2007). This represents the efficiency and effectiveness. The firm was
capable enough to make the profit within the range of 32000-32499 in the period of 10 years.
This reflects the efficiency of the marketing and strategic planning of the organization.
Moreover, the demand for quality and services have also been efficiently fulfilled by the firm.

Trend line

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 70000

60000

50000

40000
sales
30000 profit

20000

10000

0
1 2 3 4 5 6 7 8 9 10

Trend line is the graphical representation of the data in the form of scattered points to
effectively analysis and check the performance of the organization in one graph with various
variables (Etheridge, 2011). The above trend line represent the sales and profit figures of the
organization. The line shows the upward movement which reflect the positive and growth
prospects for the organization. It can be clearly seen and analyzed that the organization has
efficiency to expand and grow in the future.

Project planning process

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 The above project planning shows the various tasks and activities involved in the process
of planning and opening the second chain of restaurant for XYZ firm.The project analyze and
reflect the time for efficient planning of every tasks and activity. The critical path of the
represents the most efficient and effective means of completing the project. It says that the firm
will have to incorporate activities 1,2,3,4,5,7 and 8 to start the new chain of restaurant. Gantt
chart helps in effective representation of the activity flow in order to achieve the objective of the
project.

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Use of financial tools for decision making
Various financial tools helps in analyzing and evaluating the vast aspect of decision
making criteria. This helps the organization in finding the effective means of financial feasibility
method is the effective means of analyzing the project success considering the PV factor.

Year Cash flow PV factor @ 12% PV of cash flows

() ()
2015 12000 0.89 10680
2016 19500 0.8 15600
2017 22000 0.71 15620
2018 27500 0.64 17600
2019 29000 0.57 16530
2020 31000 0.51 15810
Total present value 9 91840
1
8
4
0
0
Less: Initial investment 8 80000
0
0
0
0
0
Net Present Value 1 11840
1
8
4
0
0
Table E: NPV calculation

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 The above calculation clearly shows that the XYZ has the bright prospect of growth in
the future as the organization represents the positive NPV of 11840. This shows that the project
is profitable for the organization.

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Presentation of Business Report

Presented in PPT

Formal Business Report of XYZ restaurant

The above report has been prepared on the basis of efficient and effective data analysis.
The primary data for the report has been collected by on the basis of questionnaire survey. The
research team surveyed the sample size of 40 people which consisted of consumers and
perceptive consumers for the organization. Moreover, secondary data of the organization has
benn collected using the past financial data of the organization. Newspaper articles, books and
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different journal were also referred in order to collect and analyze the efficient data. The primary
data analysis concludes that the firm has effective potential to grow and prosper in the new
market. The surveys helped in analyzing that the current consumer perspective demands the
quality of food and services rather than the cost factor. The firm was able to gain the idea about
changing the needs and preferences of the consumers. The secondary data helped the firm in
analyzing the internal strength of the firm. Moreover, it helped in evaluating the industry trend.
On the basis of the same it can be said that the organization has effective scope to expand its
business operation in London.

CONCLUSION
The above report helps in understanding the wide are of decision-making aspects for the
business organization. The report focuses on the business prospect of XYZ restaurant which is
planning to expand its business operation in London. Various tools and analysis helped in
understanding that the proposal is profitable for the business. In order to reach the conclusion
primary and secondary data analyzing was done. Thus, it can be concluded that XYZ should
efficiently consider the business proposal of business expansion as the firm has bright prospects
to grow.

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REFERENCES
Books and Journals
Etheridge, D., 2011. Microsoft Office Excel 2007 Data Analysis: Your Visual Blueprint for
Creating and Analyzing Data, Charts, and PivotTables. John Wiley & Sons.

Hedgebeth, D., 2007. Data-driven decision making for the enterprise: an overview of business
intelligence applications. VINE. 37(4). pp.414-420.

Hsu, M. and Chiu, K., 2008. A comparison between I-Ching's early management decision-
making model and western management decision-making models. Chinese Management
Studies. 2(1). pp.52 75.

Measures of Central Tendency and Dispersion, 2013. [pdf] Available through:<

http://college.cengage.com/mathematics/larson/trigonometry/6e/shared/appendix/median.p
df>. [Accessed on 2nd April 2015]
Morato, A. E., 2013. Business Decision Making. eBookIt.com

Prieto, M. A. and Revilla, E., 2006. Learning capability and business performance: a non-
financial and financial assessment. Learning Organization. 13(2). pp.166 185.
Weygandt, J.J. and et. al., 2009. Managerial Accounting: Tools for Business Decision Making.
Managerial Accounting: Tools for Business Decision Making.

Williams, S., 2001. Making Better Business Decisions: Understanding and Improving Critical
Thinking and Problem Solving Skills, SAGE.

Drew, S. and White, J., 2011. Collecting Data or Creating Meaning?. Qualitative Research
Journal. 11(1). pp. 312.

Garca-Pealvo, F. J. and Conde, M. A., 2014. Using informal learning for business decision
making and knowledge management. Journal of Business Research. 67(5). pp.686-691.

Hacklin, F. and Wallnfer, M., 2012. The business model in the practice of strategic decision
making: insights from a case study. Management Decision. 50(2). pp.16

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