Business Decision Making Online Assignment | Decision Making Homework Help

Introduction

Business Decision Making Online Assignment is a detailed study of various aspects which are making impact on the business decision making in an organisation. This is helping in making the most strategic decisions which are making impact on the growth rate of the company. For making Business Decision Making Online Assignment | Decision Making Homework Helpeffective decisions in the business there is conducted research for data collection process which are analysed and evaluated to identify the most suitable decisions. In this report we will analyse decision making in business of a multinational retailer Mark & Spencer Plc having headquarter in London. The company is involved in retailing of clothes, home products and luxury food products. The company went in sudden slump which took a huge level of shareholders to loss. The food market of the company is increased in comparison to cloth business. The CEO of the company has made efforts and investments to match the level of profits which are generated from food sales. Mark Bolland has to take decision as in where he should invest and expand its business (Weygandt, et. Al 2015). This business decision will be made after conducting a research for analysing the perception of others and relationship between total revenue and revenue from merchandise division. There are defined various capital budgeting techniques which are useful for making effective decisions.

Task 1

  1. Create a plan for the collection of primary and secondary data for your research questions on Marks and Spencer and present the survey methodology and sampling frame used.

Mark and Spencer Plc is a multinational company which is involved in the retailing of clothes, home products and luxury food products. Mark has spent billions on regenerating and redeveloping the brand and its profitability but did not get success in achieving that profit margin which the company had achieved before and this is due to change in the fashion in clothing. The difference between the cost price and selling price is making the profit margin which is delivering the first rise in profits. We will conduct a research to find out solution of the following problems (Weygandt, et. Al 2015).

  • Current perception of customers on the general merchandise division.
  • Relationship between total revenue for the group and revenue for the general merchandise division.

For conducting any research there are required to collect primary and secondary data which are essential for analyses and achieve results. We will understand about the primary and secondary data first.

Primary data- Primary data is collected by the researcher by using different sources and tools. This is a raw kind of data which is collected by researcher personally and is not derived from any pre-searched data. This is prime requirement for the researcher and can be collected by using various methods. This data can be collected by doing interview, experiments, and survey by questionnaire and observation. This type of data is essential for qualitative data in the research.

Secondary data- Secondary data is that kind of data which is already published and researched in any general and book and related to the research topic of researcher. There are various sources for collecting secondary data like internet, papers, magazines, research reports and business reports (Enrique et. Al 2011). Quantitative data can be collected by secondary sources.
Data collection plan

Data collected from primary sourcesCustomer perspective and views are identified by way of collecting primary sources in the research and data related to this purpose are collected.
Data collected from Secondary sourcesData which are related to the results defining various aspects of customer’s behaviours and buying habits and other factors which are related to this research and making impact are collected by secondary sources.
Budget of researchThere is defined a budget which is predicted by analysing future activities and their importance in research.
DeadlineDeadline or timeline is defined in this planning process which can be in accordance to various activities.
Tool for collecting Primary dataSurvey is conducted by filling questionnaire and personal interviews and observations are used as tool for collecting primary data (Enrique et. Al 2011).
Methods to collect Secondary dataSecondary data will be collected from various sources like newspaper, websites, social sites, research papers and business papers.
Sampling MethodRandom sampling and systematic sampling will be used in the research for selecting the population (Enrique et. Al 2011).

Survey Methodology-

Survey methodology is the method or technique which is going to be adopted in the research to and will be used in collecting the primary data. This methodology includes questionnaire that is used to collect the perspectives and behaviour of the population by way of filling questionnaire by them. The questionnaire is prepared by considering the research question and objectives on which we have to analyse. There are included 10 questions in this questionnaire which will help in identifying customer’s perspective and views of selected population which is defined in the sampling.
Sampling Method-
Sampling is defined as those methods which are used by the researcher to select the sample population which is used to collect the primary data which can be analysed in the research process. The target population is divided in different sizes by which it becomes easy to collect primary data. Following are the method of sampling which are used in the research (García-Peñalvo, et. Al 2014).
Random sampling- This is also known as simple sampling method in which random samples are taken by which target population is set. This is effective way for sampling provide efficient results.
Systematic sampling- This method of sampling is used for selecting target population in a way that there is taken sample on regular interval basis (García-Peñalvo, et. Al 2014).

Business Decision Making Online Assignment | Decision Making Homework Help

Design a questionnaire to carry out the survey with relevant instruments to reflect the required data.

  1. Age of respondents

15 years – 20 years

21 years – 25 years

26 years – 30 yeas

31 years – 35 years

  1. Tick source of income

Business

Self employed

Private employee

Other sources

  1. Tick your level of income

Up to £ 2000

£ 2001 – £ 5000

£ 5001 – £ 10000

£ More than £ 10000

  1. Customers are satisfied with range of products of M&S.

Satisfied

Strongly satisfied

Neutral

Dissatisfied

Strongly dissatisfied

  1. What are the more preferable products of the company?

Home wear

Clothing

Shoes

Food products

  1. Do you agree that general merchandise division participated on huge level in generating total revenue of M&S?

Strongly agree

Agree

Neutral

Strongly disagree

Disagree

  1. Do you agree that the company is providing its products on high prices in comparison to its competitors?

Strongly agree

Agree

Neutral

Strongly disagree

Disagree

  1. Do you agree that company is lacking to match current fashion in its clothing merchandise which is affecting its sales?

Strongly agree

Agree

Neutral

Strongly disagree

Disagree

  1. Do you agree that efforts which are made by CEO of M&S are in wrong direction?

Strongly agree

Agree

Neutral

Strongly disagree

Disagrees

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