This is a solution of Unit 1 Business Decision Making Assignment Help that describes about Developing business

Introduction

The business decisions are taken by management with the use of the gathered information. In order to gather information system of research project has to be performed. Research is processed with the help of the survey and for data collection questionnaire is utilised. There are various aspects also get utilised such as tools and techniques of calculating average such as mean, median and mode. For better and influencing decision making management make use of percentile as well as correlation. To present the data in front of management information get represented in the form of graphs as various tables and different graphs are utilised such as pie chart, bar graph and many more. Graphical representation helps in making easy understanding over the information rendered. In order to make profitability evaluation there are various investment appraisal techniques of capital budgeting get utilised.

Task 1

a) Planning is an important aspect of business. Based on the company you have chosen, you will create a plan to outline how you will collect secondary and primary data based on a defined business issue or problem.(AC 1.1)

Planning: It is the effective process of making plans in order to execute or attain something.

Unit 1 Business Decision Making Assignment HelpProblem statement: The “Pepsi Co.” management is facing various issues and not satisfied with the overall performance as they are continuously failing in meeting their set operational objectives. Pepsi Co is the largest soft drink chain and manufacturer of various kinds of soft drink for their customers. Management noted down that they are facing downfall in their sales and there is effective decrement is observed in their customer retention ratio. In order to gather data they conduct the research with the base of decrease in sales(Weygandt, et. al., 2015).

Primary data collection:

In order to collect the primary data they need to follow the below plan:

Firstly, management need to target the market or relevant population who are consuming their products.

Secondly, they need to select the mode of data collection such as survey or interviews or observation method or experiment. For example survey is selected for the purpose of data collection.

Thirdly, they need to get ready with the proper and required documents such as in case of survey they require questionnaire and for interview purpose they require some set of questions.(Weygandt, et. al., 2015)

Fourthly, set the time period for the data collection with the use of the survey program.

Fifthly, conduct the survey over their targeted population and collect the information with the use of the questionnaire.

Lastly, gather the data and arrange them properly for the purpose of analysis.

In this manner primary data is collected from the market and get utilised for the purpose of decision making.(García-Peñalvo & Conde, 2014)

Secondary data:

In order to collect this data type there is no need of conducting survey or interviews as these data type is already collected, arranged, analysed and utilised in effective manner. This information can be present in the form of journals, reports, articles and books. So in order to gather the secondary data make access to the secondary sources and gather the relevant data such as decrease in the consumption of soft drinks and many more(García-Peñalvo & Conde, 2014). Read more : Unit 3 Marketing Management Assignment Help

Management provide a budget of £10,000 for the whole research program and render time duration of 2 months.

b) Once a plan is formed you will then decide the most appropriate methodology to use in the collection of this data, including a rationale. Part of the methodology will outline the sampling framework. (AC 1.2)

The most appropriate method of data collection is conducting survey. In survey questionnaire is utilised as various set of questions are written down in one paper and it get distributed among the different individuals who falls under targeted population. Through this process adequate amount and effective quality data is gathered and further it get analysed and utilised for the purpose of decision making. Before conducting survey there is effective need of setting some specific aim and objectives such as “evaluate the measures responsible for decrease in the sales of Pepsi Co.”.(García-Peñalvo & Conde, 2014)

With the use of the questionnaire survey is conducted over the target population and helps in getting huge quantity information from the analysis purpose. Due to lack of time it is not possible to evaluate whole data so adequate sample is taken out of it and make analysis over it.

Sampling technique: For the purpose of taking sample out of the gathered data random sampling method is utilised(García-Peñalvo & Conde, 2014). In order to implement the random sampling method there is effective need to follow the below steps such as:

Step 1: arrange the data in systematic manner.

Step 2: set the sample size (10 responses)

Step 3: take out the equal responses from the arranged responses

Step 4: conduct the analysis over the sample taken out.

(García-Peñalvo & Conde, 2014)

c) A questionnaire is one method of gathering primary data. For the company you have chosen you will design a short questionnaire to help gather information based on the defined issue/problem. (AC 1.3)

Questionnaire:

Name:

Gender:

Age:

Profession:

  1. Which is your favourite drink?

a.) Pepsi

b.) Coca-cola

c.) Thumps-up

d.) none(Marković, et. al., 2013)

  1. How much do you spend over soft-drinks in a month?

a.) £10

b.) £20

c.) £40

d.) more than £40

e.)Specify yours spending

  1. What you prefer more from the following options?

a.) Cold-drink

b.) Packed juice

c.) milk products

d.) fresh juice

  1. Rate the quality of Pepsi Co products (which you consumed):

a.) Poor

b.) Average

c.) Good

d.) Excellent(Marković, et. al., 2013)

  1. Which brand do you prefer?

a.) Pepsi Co

b.) Real

c.) Coca-cola

d.) Parle-agro

(Marković, et. al., 2013)

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