Business Decision Making
Unit and Assessment Details Course Title: Unit Number: Unit Title: Assessor: Internal Verifier: Assessment Title: Assessment Method: Assessing in: Number of Words: Outcomes Covered: Issue Date: Pre-Submission Date: Due Date: Feedback to Learner Date: HND Business 06 Business Decision Making Syeda Sana Naseem Bilal Ahmad Collecting, analyzing and presenting data in appropriate format Report Individually 4500 (Max 20 pages) 3 (Outcomes 1,2,3) 12-April-2011 5-May, 18-May, 31-May-2011 3-June-2011 30-June-2011
Statement of authenticity College No. Learner Name Learner Signature
Learner??™s Declaration: I confirm that the work submitted for this assignment is my own. Date
Outcomes Covered OUTCOME 1 2 3 NOTE: Attach this page as first page of your report and the remaining pages at the end of your report.
Business Decision Making Purpose and Aim This assessment will give learners the opportunity to examine a variety of data sources. For any of the given scenarios, they will collect data from different sources by using variety of methods, and will use spreadsheets and other software for data analysis and the preparation of information in an effective manner. Conclusions on the basis of data analysis are required to clarify the importance and use of different data analysis techniques. Scenario Suppose you are appointed as an assistant to a research executive for a marketing agency. Several clients have contacted your company to conduct research study for their upcoming projects. The research executive has made a panel that will be responsible for the research analysis of these projects. Being a member of that panel you are given a task to conduct analysis for any one of the clients. List of these upcoming projects is as follows: 1. Edwardes College Peshawar wishes to examine the attitudes of its current and potential visitors towards its website. 2. Nestle company is thinking to launch a new product i.e. Nestle Energy Drink. 3. Department of Professional Studies of Edwardes College wants to introduce a new course 4. A distributor of a personal hygiene product (soap, shampoo, hair oil etc) wants to start distribution of an international product in your city. (select any product of your choice) 5. Pizza hut wants to start a new deal in Peshawar region i.e. All in One Meal. For conducting research survey you have to carry out the following tasks:Task 1 Use variety of sources for the collection of data, both primary and secondary, to collect information for the analysis. For this carry out the following activities: ??? ??? Prepare a well structured research plan for the collection of primary and secondary data for the given situation. Mention different sources of data which you will use in the research. Your research plan should include the methodology for collecting primary data by using different survey techniques. Describe the methodology in sufficient details; highlighting the types of research to be used, the sample frame, the method of analysis and any limitations of the proposed approach. Give valid justifications and reasons for the methodology suggested along with the frame to be used for the survey. Develop a questionnaire to collect primary data. The design and contents of the questionnaire should be well justified by providing valid reasons. The plan should meet the following criteria: o Examine the need of that product/ service. o Performance of current products/services of your selected client. What is the attitude of customers towards the client??™s product/service
Business Decision Making o Identify the competitors and compare the perceptions of your client??™s product/ service relative to its competitors. o Identify the potential for enhanced features on the client??™s product/ service. ??? ??? Implement the plan and collect information based on the sources of data mentioned in the research plan. Maintain the data collected in proper manner to be used for the next task.
Guidance Notes for Task 1:
??? ??? Select that organization as your client, which you can easily access for collecting different types of data related to your work. The data collection/ research plan must also include: o Brief background information on the chosen organization, its customer base, products and services and its position in the market. o Scope/ limitations of your plan. o All sources of data to be used either primary or secondary. o A complete methodology of the primary data collection techniques to be used. o The methodology and questionnaire adopted should be justified in terms of being appropriate to the task and the context of chosen organization. o Sample frame to be used for data collection should also be justified. While preparing the questionnaire go through the, guidelines provided for an activity in the class, or the Business Decision Making course book. Before implementing the data collection plan, approve it from assessor. Your plan should be signed by the assessor before April 25, 2011. No assignment will be accepted on the submission if it is not approved on the said date. To check the validity of the survey methodology or the questionnaire prepared you can consult any professional or experienced person in this field but proper evidence should be provided. In addition to this give your own analysis to justify your research methodology. This task should be completed by May 5, 2011. This is the pre submission date for the feedback related to Task 1.
Task 2 At the end of Task 1 you would have collected certain data. The data collected will be in raw-form that cannot be analyzed to draw conclusions. ??? Present the collected data in form of different graphs or charts (e.g. Bar graph, Pie Chart, Line Graph etc) using spreadsheets (Excel). And give your conclusions on the basis of analysis done on the graphs made. (As was done in Activity 8)
Business Decision Making ??? Separate and summarize the data that can be tabulated in proper form to be used for further analysis. Make tables with proper name and labels as required. You can make use of the following information: o People in favor or against the product or service by assessing the need of that product, o By analyzing the competitors you can estimate about the people in favor of competitors and you can identify the major and minor competitors. o You can collect data about current performance of company by looking at the sales of the organization and its competitors. (use data of last 10 years), Similarly you can collect any other useful information. Draw valid conclusions on the basis of summarized data, etc. ??? Analyze the collected data by using Measures of Dispersion, Quartiles, percentiles, coefficient of variation and use this information in proper way to draw valid and justified conclusions. Give recommendations how this information can be used.
Guidance Notes for Task:
??? You can summarize the data in form of tables on the basis of age groups, time duration, year wise and so on. Questionnaires, financial statements and other sources of data can be used this task. Give proper reference from which source the data is collected. Clearly show all the calculations made. Provide soft copy of excel sheets if you have used it for making calculation. Conclusions are the most important part of this task. The values calculated will be useless without their proper analysis. Therefore, give justified and valid conclusions for all tasks after analyzing the values calculated. This task should be completed by May 18, 2011. This is the pre submission date for the feedback related to Task 2.
Task 3 ??? Identify at least 3 important factors that can cause increase or decrease or no change in the sales of the selected organization e.g. Sales can be linked to advertising expense, time and volume of sales (Revenue/Stock sold), sales with hours worked or served etc. For this calculate correlation coefficient between sales and different values like some expenditure, hours worked, number of employees and determine if there is trend in sales or not related to other factor.
Business Decision Making ??? Find trends and variations in the sales figure depending on the factors identified above. Apply any appropriate technique by giving its justifications. Based on trend analysis forecast sales for the next year.
Guidance Notes for Task3:
??? ??? ??? ??? ??? For this task you might make few assumptions as the data may not be clear or complete. So clearly state and justify the assumptions made in this task. The data collected from any source should be properly referenced. Clearly show all the calculations made. Provide soft copy of excel sheets if you have used it for making calculation. Draw proper conclusions on the basis of analysis done. The conclusion should be justified by providing valid and clear reasons. This task should be completed by May 31, 2011. This is the pre submission date for the feedback related to task 3.
Task 4 ??? ??? All the Above tasks should be properly documented and presented in form of a properly structured report. Give and overall conclusion of the entire activity done and recommend the client whether the project is feasible or not. Make a presentation of the tasks attempted to disseminate information gathered and analyzed to draw valid and justified recommendations
Guidance Notes for Task4:
??? ??? ??? This final submission date of the report is June 3, 2011. Presentations will be held on 6 and 7 June, 2011. The presentation should not be more than 6minutes. Focus of presentation should not be on calculations, but on the analysis of values calculated. Start with little introduction of your work, the methodology and then discuss the analysis of different activities undertaken. Provide evidence of this presentation in your report in form of hardcopy of the presentation slides or video of presentation afterwards.
Business Decision Making
Grade Descriptor Possible Evidence Merit: M1: Identify and apply ??? Appropriate data collection plan and survey strategies to find methodology is effectively applied keeping in view appropriate solutions relevant theories and techniques. Questionnaire made and conducted properly. ??? All calculations required in the report are made correctly with their proper analysis given. M2: Select/design and ??? A range of sources of information has been used apply appropriate including both primary and secondary sources and methods/techniques their use is justified by giving valid reasons ??? The data collected when used in the analysis is properly referenced. M3: Present and ??? The report is well structured and the information is communicate appropriate communicated in an effective and proper manner to findings the audience. Appropriate use of text, images, charts and tables both in presentation and in report. ??? Power point materials are clear, well structured and contains all the main points necessary to convey the idea to the audience. Distinction: D1: Use critical reflection ??? Conclusions drawn and the recommendations given to evaluate own work and throughout the report are justified by providing justify valid conclusions valid reasons and, are appropriate to the task and the context of chosen organization. D2: Take responsibility for managing and organizing activities ??? All the project activities are well planned, organized and properly managed. Provide documents like Journal of activities for the report, Gant Chart for the activities required to complete the report, completing the work in time etc. A well organized presentation is carried out. Calculations, recommendations and conclusions provided throughout the report include different appropriate alternatives which were provided by student??™s own thinking/research. Issues and questions raised during the presentation are considered well and an appropriate response provided.
D3: Demonstrate convergent/ lateral/ creative thinking
Business Decision Making Notes to Students ??? ??? ??? ??? ??? ??? Include a last chapter in your report about the limitations of your report and write any difficulty you faced while collecting data. Give conclusions and critically evaluate your work if possible. Prepare a power point presentation (of not more than 6 min) Give proper evidence of all your activities for completing the tasks e.g. videos, pictures, visiting cards, or reference letter of personnel from whom data is collected. Clearly mention if any assumptions are undertaken for the given scenario. Student could research together but you must analyze, evaluate and critically appraise the requirements of your assignment and produce the work on your own. The safety of your assessments is your responsibility. You must not permit another student access to your work.
Plagiarism Policy The college has strict penalty for plagiarism and the assignment will be cancelled if the assignment is observed for this. The definition and scope of plagiarism are presented below: Plagiarism occurs when a student misrepresents, as his/her own work, the work, written or otherwise, of any other person (including another student) or of any institution. Examples of forms of plagiarism include: ??? The verbatim (word for word) copying of another??™s work without appropriate and correctly presented acknowledgement; ??? The close paraphrasing of another??™s work by simply changing a few words or altering the order of presentation, without appropriate and correctly presented acknowledgement; ??? Unacknowledged quotation of phrases from another??™s work; ??? The deliberate and detailed presentation of another??™s concept as one??™s own. All types of work submitted by students are covered by this definition, including, written work, diagrams, designs, engineering drawings and pictures. Resources Required: ??? Lectures slides ??? Business Decision Making BTEC Course Book ??? Reference books (in library) ??? Business magazines and journals ??? Newspapers
Business Decision Making Grading Statement (For Report) Pass 1.1: Prepare and implement a plan for the collection of primary and secondary data for a given business problem 1.2: Describe and justify the survey methodology and frame used 1.3: Develop and use a questionnaire and justify its design for a particular purpose 2.1: Create information for decision making by summarizing data using representative values, and use the results to draw valid and useful conclusions in a business context 2.2: Analyze data using measures of dispersion, and use to inform a given business scenario 2.3: Calculate quartiles, percentiles, correlation coefficient, and use to draw useful conclusions in a business context 3.1: Using data from a given business scenario, prepare a range of graphs using spreadsheets ??” line, pie, bar charts and histograms, and draw valid conclusions based on the information derived 3.2: Use trend lines in spreadsheet graphs to assist in forecasting for specified business information and thus inform decision making 3.3: Prepare a business presentation using suitable software and techniques to disseminate information effectively and persuasively 3.4: Prepare a formal business report Merit M1: Identify and apply strategies to find appropriate solutions M2: Select/design and apply appropriate methods/techniques M3: Present and communicate appropriate findings Distinction D1: Use critical reflection to evaluate own work and justify valid conclusions D2: Take responsibility for managing and organizing activities D3: Demonstrate convergent/ lateral/ creative thinking
General Instructions ??? ??? Books and online resources can be used of the college library and Central Computer Lab for any assistance. But direct copying from these resources is not allowed. Visits need to be arranged and made to the organizations. For meeting the respective managers, the college will provide a reference letter for the project and the manager of the organization is welcome to contact the administration at the college The college has strict penalty for plagiarism and the assignment will be cancelled if the assignment is observed for this. Proper referencing should be given in the Harvard Style/Chicago/MLA etc. All work should be comprehensively referenced and all sources must be acknowledged fully, this includes books & journals used as well websites visited. Details such as page numbers, publishers and publication year should also be stated, in addition to the name of the author(s) and publication. Books,
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Business Decision Making articles and journals should be the main sources; online sources are allowed up to 15% The Assignment should have a cover page that has assignment title, assignment number, course title, unit title, lecturer / tutor name and student??™s name. Attach all the pages of assignment brief with your report as annexure at the end. Ensure that statement of authenticity has been signed and attached as the first page of your report. Contents sheet (TOC) with a list of all headings and page numbers is must for your report. Use A4 page size, 12 point Arial or Times New Roman font with 1.5 line spacing. Your assignment should be word-processed and should not exceed 4500 words in length (or 20 pages). Exhibits / appendices are outside this limit Pages should be numbered (bottom right hand corner) Spell-check the document and read thoroughly for grammatical errors
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Feedback to Learner
Criteria Feedback to learner (Evidence presented against the published criteria) Achieved Y/N Y/N
Business Decision Making
Assessor signature Internal Verifier signature