BUSINESS DECISION MAKING

BUSINESS DECISION MAKING.

BUSINESS DECISION MAKING
BUSINESS DECISION MAKING
Your assignment consists of two tasks for you to complete. Task 1 will include two parts. Part 1 is scenario based and asks you to prepare a professional report based on your market findings. In Part 2 of the Task 1, you will need to discuss various Management Information Systems (MIS).
Scenario: Grocery Ltd
In business, good decision making requires effective use of information. A Sales Director of Grocery Ltd,
the recently established mass retail business in Dubai, seeks information on the grocery market in Dubai
in order to make several important business decisions. He appointed you as his consultant to analyse
relevant market data/ information and deliver a professional report based on your findings.
Grocery Ltd operate several grocery stores in Dubai; all stores were established four years ago. During the
past two years the company’s turnover was growing at rates below the market average. The Sales
Director is convinced that the major problem is inability of Grocery Ltd to build customer loyalty. The
grocery stores offer a wide variety of food and non-food merchandise and are located in the mid-income
residential neighborhoods where other competing stores also operate. Grocery Ltd do not currently run
any discount or loyalty programmes. The Sales Director proposes the launch of private label foods (store
brands) and home delivery shopping option.
(1) Your role as the consultant will involve investigation into current and possibly future consumer behavior and attitudes of grocery shoppers in Dubai. Based on your findings you will need to suggest the improvement opportunities to Grocery Ltd in order to boost their sales and retain customer loyalty.
(2) The Sales Director also asked you to evaluate the statistical relationship between the average monthly household income and monthly household grocery spending in Dubai market for the purposes of internal decision making.
In order to meet all the learning outcomes (L01-L03) you will be required to:
LO1: Be able to use a variety of sources for the collection of data, both primary and secondary
1.1 – Create a plan for the collection of primary and secondary data for a given business problem.
1.2 – Present the survey methodology and sampling frame used.
1.3 – Design a questionnaire for a given business problem.
LO2: Understand a range of techniques to analyse data effectively for a business
2.1 – Create information for decision making by summarising data using representative values
2.2 – Analyse the results to draw valid conclusions in a business context
2.3 – Analyse data using measures of dispersion to inform a given business scenario
2.4 – Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context
LO3: Be able to produce information in appropriate formats for decision making in an organisational context
3.1 – Produce graphs using spreadsheets and draw valid conclusions based on the
information derived
3.2 – Create trend lines in spreadsheet graphs to assist in forecasting for specified
business information
3.3 – Prepare a business presentation using suitable software and techniques to
disseminate information effectively
3.4 – Produce a formal business report.
To achieve a Merit and Distinction, you need to:
M1 – You will need to demonstrate how the data collected can be analysed to form effective judgments about the research problem.
M2 – You will need to show evidence that a range of sources of primary and secondary data has been used to gather information for the purpose of research.
M3 – You will need to ensure that the appropriate structure and approach has been used in preparing the business report. Also, your report shall be submitted on time.
D1 – Based on your data analysis, you will need to propose realistic improvements for success of the business based on a given scenario context.
D2 – You must show that interdependence of data was recognized while conducting data analysis and drawing conclusions.
D3 – You will need to evaluate the research process and the validity of your conclusions. For this, you will need to assess the reliability of data and also describe how your research might have been constrained by time and other factors
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