Minor Case Study on Business Decision Making
See What Our Writers Deliver Through Our Free Samples!
Get Your Assignments at the Best Prices NOW!!
7293 Downloads I Published: 13 Jul ,2017
Business decision making can be stated as foundation for business entity. In this process, managers evaluate several factors such as current productivity, sales of company, efficiency of workers, market share and needs of different kinds of resources in order to achieve organizational goals. To manage business with current market trends, managers develop different kinds of strategic plans that will provide good return to organization in the form of increment sales and profit along with enhancement in satisfaction level of consumers (Woiceshyn, 2011). To achieve business objectives in an efficient manner, top manager makes effort to create a highly productive business decision-making process that can easily manage several practices of firm.
This report presents a research plan for Sainsbury in order to identify satisfaction level of consumers. It determines use of statistical method like dispersion to examine sales figures of Sainsbury and Tesco. Report also considers quarterly and percentile value in assessment of profit of company. This report also uses graphs and chart in order to present data effectively. It also develop a network diagram for BBC new team with the help of critical path method. Report evaluates different kinds of invest appraisal tactics for selection of best investment proposals.
If your dream is to get top grades, get a rewarding assignment service from us.Brilliant Assignment Services
Creating a plan for the collection of data for research on Sainsbury and present the survey methodology and sampling frame used
For collection of different kinds of data, investigator can adopt different approaches in order to acquire most reliable information for research on satisfaction level of consumers of Sainsbury. Some most common methods of data collection are explained below:
Primary data collection: For collection of primary data about perception of consumers, researcher of Sainsbury develops various questionnaires in order to carry out detail market survey (Sucky, Aksoy and Ozturk, 2012). This process assists manager in assessment of reliable and accurate information about satisfaction level of consumers from different kinds of products and services provided by retail organization.
Secondary data: The investigator also collects information with the help of books, journals, news papers, annual reports of other companies and online websites. Organization considers views and suggestions of top business professional as secondary source of information (Zsambok and Klein, 2014). This report also takes last 25 years sales data of Sainsbury.
In order to manage research, survey methodology plays a very crucial role to achieve research goals. Research methodology determines several aspects that give assurance to investigator about sources of research. It also assists managers in handling of various activities performed in research in an efficient manner. In the present research, managers collect primary data with the help of questionnaire by adopting random sampling approach. So, researcher distributes questionnaire to consumers of Sainsbury for assessment of information about satisfaction level of consumers with reference to distinct kinds of product and services provided by the retail business entity (Rumki, 2014). Researcher takes a sample of 30 respondents in order to have reliable results. By adopting this strategy, the management of Sainsbury can get accurate information about expansion project of business entity. By taking view of consumers, manager can develop various kinds of future plan of business entity in the form of new product development.
On the basis of above chart, researcher can examine various elements related to satisfaction level of consumers from various products that are offered by Sainsbury. The above diagram reflects that 75% of consumers are satisfied with quality and features of Sainsbury's products. Around 60% of buyers are satisfied with pricing of goods and services. Around 40% of respondents believe that executives of Sainsbury assist them in selection of good of products. This thing increases the goodwill of firm (Zimmerman and Yahya-Zadeh, 2011). Researcher has also examine the purchase pattern of consumers. On the basis of above diagram, it can be interpreted that 40% of consumers are regularly purchasing different outlets of Sainsbury. This thing provides an opportunity to management in order to enhance the sales of company by offering better products as compared to other firms.
ASSIGNMENT HELP AUWe Aim At:
In order to evaluate overall financial performance of the organizations, researcher considers several aspects of descriptive statistics such as mean, median, mode and standard deviation (Pettigrew, 2014).
On the basis of above statistical evaluation, it can be stated that mean value of sales of Sainsbury is £14759.812 million and median is £16061 million. Due to not any repetition of sales and profit value in last 25 years, there has not seen any mode value. On the other hand, the mean value of operating profit of Sainsbury is £590.588 million and their median value stands to be £656 million. In the process of evaluation of sales and profit figures of last 25 years, median can be determined as central value of business entity (Russel, 2014). Even median value shows there are values which are 50% higher than the sale and operating profit figures collected for the study. Standard deviation also assist managers in assessment financial position of business entity in order to achieve research objectives. Sales and operating profit figures show standard deviation of sales is £4866.18 million and £230.48 million for operating profit. With the reference to evaluation of dispersion, Sainsbury has managed good financial position along with growth rate. It will help management in various future decisions.
Quartiles is one of the most important statistics tool which is considered by researcher in order to divide entire set of data into four equal parts. But, percentile value is calculated for identification of number of values which falls below or above on basis of set of percentile value. In this section, investigator considers last 25 years financial data of Sainsbury and Tesco in order to compare performance of business entity. On the basis of above calculation, the value of 2nd quartiles and 50th percentiles related to sales and operating profit of Sainsbury and Tesco, it has been determined that Tesco has achieved higher sales as compared to Sainsbury. Further 2nd quartile and 50th percentile value of sales and operating profit values are respectively £33711.5 for Sales and £1843.5 for Operating profit of the organization.
Correlation values determine the relationship between two variables such as profit and sales. The value of correlation is generally showing between -1 to +1. On the basis of above calculation, it can be stated that correlation coefficient between sales and operating profit of Sainsbury performance is 0.316 which is very low. On the other hand, correlation between sales and profit figures of Tesco is 0.996 (Pettigrew, 2014.). This thing reflects that there is a perfect correlation between sales and profit figures of Tesco. If Tesco increases the sales of it then profit of firm is going to be increased. On the basis of above evaluation, it is determined that financial performance of Tesco is better then Sainsbury. So, management of Sainsbury should have to develop various strategies that influences the prefect relationship between sales and profit.
After conducing market research and measuring the financial performance of business, it has been determined that investigator needs to provide detailed information about several elements that will improve the efficiency of business decisions (Gigerenzer and Gaissmaier, 2011). The primary research determines that consumers are satisfied with various types of products and services that are provided by Sainsbury. On the basis of evaluation of last 25 years sales and profit data, it has been identified that Tesco has built good financial position as compared to Sainsbury. This thing provides strategic advantage to management of Tesco in various management decisions that will increase the sales and profitability of company (Ferrell and Fraedrich, 2014). In order to increase the profitability and sales of company, managers of Sainsbury have to develop various plans and implement distinct procedure that will reduce the operational expenditures and ultimately increases the profit. By increasing demand and sales, business entity can improve the market share.
In order to arrange an event for evening 6 o’clock news, a managers need to evaluate different schedule of activities that will assist them in presentation of news without any delay (Jocumsen, 2004). With the help of efficient schedule of activities, organization can generate best results from the event. In this process, critical path method can manage several activities effectively.
The above study concludes that every organization has to consider several elements in business decision-making process such as profitability, market share, sales of company and satisfaction level of consumers as well as quality of services (Leitz, 2009). This report figures out dispersion which is one of the most effective techniques that assists the researcher in evaluation of mode, median etc. of different figures of company such as profit and sales. Report concludes that management has to examine different aspects like return, profitability etc. in strategic business decision that is related to long term business project.
Type: Business Plan I
Published: 05 Apr ,2019 I
Introduction Business management involves activities of getting together people in order to achieve business goals in effective manner. Properly managed business accomplishes success. The objective of the report is to explore processes involved in the product and service development (Gollenia,...ReadMoreView or Download
Type: Business Plan I
Published: 03 Apr ,2019 I
Introduction A well blended and a combined mixture of internal and external i.e. the micro and macro environmental factors of a business corporation which effect its functionality and the operational activities of the organizational structure (Worthington and Britton, 2015). The Internal business...ReadMoreView or Download
Type: P.H.D Thesis I
Published: 20 Mar ,2019 I
STRATEGIC MAANGEMENT IN UBER Strategic management is defined as procedure which includes planning, analysis and monitoring of procedures running in the industry. Objectives for business including short term and long term are formulated for providing directions to the manpower (Ward and Peppard,...ReadMoreView or Download
Type: Case Study I
Published: 14 Mar ,2019 I
Accounting for Strategic Management and Control Introduction In the business unit, strategic management and control is highly required to attain success in the competitive arena (DRURY, 2013). Cost is one of the main factors that closely influence the profit margin of firm. Hence, it is highly...ReadMoreView or Download
Type: Assignment I
Published: 02 Mar ,2019 I
Introduction It is necessary and important in the life of organization. There are some major forces which make the changes that are not only desirable nut also inevitable are political, social, technological , economic and labor market environment. The present report is based on a Fame and Partner...ReadMoreView or Download
If the samples impressed you and you want to place an order with us just submit your queries with us and place your order.Chat With Expert
Now take our online assignment writing services in Australia.