Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Business Decision Making - Essay Example

Comments (0) Cite this document
A set of data available was made available by the company from American Marketing Association (AMA) website for explanation analysis and reduction/aggregation of the same. The particulars of the data are as follows. The geographical area form which the data obtained is Chicago…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.3% of users find it useful
Business Decision Making
Read TextPreview

Extract of sample "Business Decision Making"

Download file to see previous pages The data is about the education level of the selected population. There are seven sub-categories in which the data is distributed. It explains the different levels of educational qualification for the population. Classification into seven categories is too detailed and is not relevant for the company's marketing strategies.
The Company is engaged in the business of snack foods, an item that is favored by almost all sections of the society. Moreover some category contains data that are too small to be of significance. Hence the numbers of categories have been reduced to three. The methodology used was to aggregate all data that showed a value of less than 10%. Only Bachelor's Degree (44.9%) and Graduate Degree (33.99%) have been shown separately. All the rest of the categories have been shown under the heading "Others'. The table indicates that out of every 100 persons, about 44 people are having qualified with a Bachelors Degree and almost 40 persons have a Graduate Degree. The category others include persons holding other degrees, undergraduates, those who have attended college but do not possess any degrees (probably because they dropped out) and those who have attended school.
It can be assumed that targeting those with degrees could be more rewarding since they are in a position to earn better salaries. Snack foods do not come under the category of necessities and hence people with more income tend to spend more on such items. So the last category can be given the least importance.
Data has not been reduced, only aggregated. Since the data is given in percentages and adds up to 100, the value of 21.82% pertaining to "Others' was obtained through simple addition of values of the individual categories included there.
Census Trend 1980 to 2000 Summary Report - Basic Variables: The table shows the increase in population starting form 1980 to 2000.
Total Population:
Male + Female
Male Only
Female only
It can be seen that the number of males and females are almost equal and hence both of them should be given importance when formulating marketing strategies. There is a small growth in population to the tune of 7% in 1990 and 5% in 2000. Average number of persons living in a house is low. This indicates that there is a large number of people living alone.
Data has been reduced as well as aggregated. The point has been put across sufficiently with the data in the above table.
Occupation and Employment Summary Report - Means of Transportation to Work: This indicates the different modes of transport used by people going for work. This is relevant since people could eat snack food during time spent in traveling. Those driving alone are not in a position to do this and they are not included here. So the table has been prepared according to the possibility of eating while traveling.
Time Taken
(In Minutes)
45 - 59
Yes - Has most time and high numbers
Bus or Trolley
5 - 9
Yes - Less time
10 - 14
Yes - More time, but less chance
90 or more
Yes - Low numbers, highest time
Worked at home
Work at home
Yes - High chance but low numbers
60 - 89
Yes - High Chance but low numbers
Others who can eat
35 - 44
Yes- High chance but ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Business Decision Making Essay Example | Topics and Well Written Essays - 1000 words - 1”, n.d.)
Business Decision Making Essay Example | Topics and Well Written Essays - 1000 words - 1. Retrieved from
(Business Decision Making Essay Example | Topics and Well Written Essays - 1000 Words - 1)
Business Decision Making Essay Example | Topics and Well Written Essays - 1000 Words - 1.
“Business Decision Making Essay Example | Topics and Well Written Essays - 1000 Words - 1”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business Decision Making

Business Decision Making

...? Business Decision Making Business Decision Making Task I) Brent Cross is part of North London, at the “London Borough of Barnet”. The area is located close to the “A41 Brent Cross foyer, which crosses the A406 North circular way”. The area is home to the Brent Cross shopping center and a population of not less than 2.5 million. Through the market research, the investigators will determine the market. Through evaluating the need for gym services at the Brent Cross area – the study will determine whether the investment will stand well, with regard to the values of the residents, and whether the business will be able to offset any competition. The market research will contact different members of public – as opposed to consulting target...
8 Pages(2000 words)Assignment

Business decision making

...Upgrade networking E Purchase contract signed F Install furniture G Test hardware and software H Line up all resources I Perform user acceptance test J Install hardware and software K Perform training Table 10: Gantt chart Figure 16: Activity Network 4.3. Determination of critical path Critical path is the path in activity network that takes the longest route (Institute of Business and Management, 2012). It is the line of activities that consumes the longest duration of time and resources. For example, in this activity network, the longest route is A – B – C – G – I – K = (5 + 10 + 12 + 18 + 9 + 4) = 58. Reference: Institute of Business and Management. (2012). Business Decision Making Assignment Brief, November 27, 2012 to January 29,...
14 Pages(3500 words)Essay

Business Decision Making

...?Business Decision Making Task a) The questionnaire should be relevant and user-friendly and it should be structured in such a way that it could easily extract a considerable amount of information without causing any offence or boredom to the respondent. Question 1) How often do you use the services offered by the library? This should have been a close ended question but it has been structured as an open ended question. Such types of questions invite some obvious replies and information obtained from this can be unreliable and meaningless. The term often is ambiguous in this case and different respondents will interpret it in different manner. For instance, some of the respondents will answer that they use library services 5 times a month...
13 Pages(3250 words)Essay

Business Decision Making

...the layoffs. We are the best and will always strive to become even better. Our organization always motivates its workers to offer the best .As the vision of our company still stands “engaging in offering quality services.” I really believe that, producing quality goods and services will only be achieved through your hard work. Hard work is what turns visions into reality. Thank you all for lending me your ears. I wish you well as you continue working hard”. References Avolio, B & Bass, B. (1994). Improving organizational effectiveness through transformational leadership, Sage Publishers. Baker. A. (1981). Business Decision Making. Taylor & Francis, 1981. Eckstein, D. Sr. Dinkmeyer. D.C. (1996). Leadership by encouragement, St. Lucie...
3 Pages(750 words)Essay

Business - Decision Making

For example, the depreciation in the value of a car as time passes and the distance it is driven is done by simple regression. But this type of situation rarely exists since there are many complex factors or variables that exist in the real world. If we want to calculate the future earning of a person taking only his years in school is simple regression, but it is not accurate since other factors like age, qualification, industry, experience are not taken into account. If we take all these factors into account the situation becomes more complex and hence multiple regressions would have to be used.
Linear regression is used in similar circumstances as a simple regression. A relationship between height and weight of adults can...
4 Pages(1000 words)Essay

Business Decision Making

...Running Head: BUSINESS DECISION MAKING Business Decision Making in APA Style by Decision making is very important in business organization since this identifies the most strategic direction that it can take considering its internal and external environments. Hypothesis testing is a statistical tool which aids managers and other decision makers in coming up and choosing among the various alternatives. Hypothesis testing is defined as "the process of choosing between competing hypotheses about a probability distribution, based on observed data from the distribution" (Hypothesis Testing). As the name implies, the test utilizes hypotheses in order to come up with a decision. Statistically speaking, there are two types of hypothesis namely...
2 Pages(500 words)Essay

Business decision making

...BUSINESS DECISION MAKING The Rostos Fish Tavern Acknowledgment The of this paper wishes to express heartfelt gratitude to the 35 executives who responded to the data gathering exercise for the purposes of this study. Table of Contents Chapter 1. Nature and Background of the Study 2 Chapter 2. Review of Related Literature 3 Chapter 3. Data Gathering and Sampling Method 4 Chapter 4. Results of the Study 5 Chapter 5. Summary, Conclusions and Recommendations 7 Table of Appendices Appendix 1. Questionnaire...
5 Pages(1250 words)Essay

Business Decision Making

...Business Decision Making Table of Contents Task 3 Task 2 5 Task 3 6 Task 4 8 Task 5 12 Task 6 15 Reference List 18 Task Market research plan Background With the development made in the field of information technology, people are increasingly seeking innovative products in order for their own convenience. This requirement for innovation has compelled technology companies to revalorize the ways in which information is channelized throughout the world. The world has come a long way since the invention which was in its time the most efficient means of relaying information. Since then a number of developments have been made in the field of information technology, with Internet being the most drastic invention. However, the introduction...
17 Pages(4250 words)Essay

Business Decision Making

... 585.64 80-90 85 6 96 510 1169.64 90-100 95 4 100 380 1953.64 N=100 ∑FX=5080 ∑=8301.4 i) Mean= FX÷n= 5080÷100=50.80 The mode is the amount spent that has the highest frequency (Math, 2013, 1). The highest frequency is 15 and is associated with an expenditure of 55. 55 is the mode. The median is the figure that occurs in the midpoint (Math, 2013, 1).The cumulative frequency is 100; hence the midpoint is 50. Median = 45+2/15× 55= 52.33 According to the figures, obtained the best price range is 50-60 because it has the highest frequency and thus can generate the highest revenue for the business. ii) Standard deviation is obtained by calculating the square root of variance (Fun, 2010, 1) The variance is the average of the squared differences...
12 Pages(3000 words)Essay

Business Decision Making

...Business Decision Making of Business Decision Making LO 3.2 Trend Lines It is a linear trend line which determines how often people prefer eating in a restaurant. Linear trend line determines if something is increasing or decreasing on a steady rate. Here it is observed that the trend line is increasing. LO 3.3 (Presentation Slides) LO 3.4 Business Report Introduction From the survey it is noted that the Londoners have grown a habit of eating out at restaurants. Low price of food items also encourages people to dine at a restaurant and has also increased the number of restaurants in London. Similarly, the Board of Directors of the restaurant is planning to open a second outlet of the restaurant in London. Secondary and primary data...
7 Pages(1750 words)Assignment

Internal and External Environmental Analysis for the Bakery Business

Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country.

Threat: The UK food regulatory authority is planning to enforce the EC Regulations relating to food labeling. The labeling requirements under the new regulations will affect the food industry as the suppliers will be legally obliged to disclose the GM content of foods to the caterers. Thus business firms in the bakery industry also will be effected through the exclusion of flexible manner of labeling arrangements in the case of flour confectionery involving GM Soya or maize. (Genetically modified and novel foods (labeling) (England) regulations, 2000).

Trend: The new subs...
6 Pages(1500 words)Case Study

Evandale's Business Plan

Evandale’s mission would have a strong impact on the company’s later brand development.
When a company determines its mission and its vision, it needed to determine its objectives to accomplish that vision. I did not see the objectives—where the company was heading through in the presentation. A clear objective would have enabled me, as an audience to also picture where the company would want to go and would serve as the benchmark for me to assess the later strategic choices the company would state in the presentation.
According to the slides, the potential demand for caviar and the sturgeon products are “100x” bigger than the current supply. I would have wanted to see a reliable source for...
7 Pages(1750 words)Case Study

Decision Making in Health and Social Care

...DECISION-MAKING IN HEALTH AND SOCIAL CARE: ECONOMICS a) Why are market forces unsuitable for health service resource allocation? Refer in your answer to the problems of consumer sovereignty, agency, and health outcome measurement. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. This is economic sense but nevertheless this positive economic statement about the predictable behavior of the consumer does not hold true when the demand patterns for Giffen and inferior goods are factored in. For instance when income, of the individual consumer, rises his demand for inferior goods such as potatoes...
8 Pages(2000 words)Case Study

The Management, Leadership and Teamwork Competencies Required by a Small Business Owner

On the other hand organizational leadership is defined as the ability based on the specific skill of an individual to lead his/her subordinates in a manner that pre-planned organizational goals could be achieved within the defined time-frame.

According to Burns (1978) and Bass (1985), transformational leadership has a set of category constructs such as values, morals, farsightedness, long term goals, principles, acute awareness about the dividing line between causes and symptoms, mission statements, strategic perspectives, and human resources. Similarly, they identify a set of category constructs in the transactional leadership also. For instance concentration on the task at hand, short term goals and tactics, confusion co...
6 Pages(1500 words)Coursework

Business Information Systems

... to effectively manage and handle the business operations and management. Club IT business main objective is potentially enhancing the customer satisfaction and augment the business revenue. Therefore they want to deploy a new information technology based structure. These can be related to the effective business management, accurate business decision making, value based services to customer and effective resource management. The main strategy of the business is to establish a completely renovated business and management structure. This new structure will offer effective customer management and handling. Here we will also obtain more customer loyalty and Club IT business will attain a better competitive edge in the overall market place...
8 Pages(2000 words)Case Study

Business Administration

... and made me decide to continue a career in technology. 2. Please explain your principal reasons for wishing to join the Warwick MBA. Describe your career aspirations, the contribution you will make to the programme and, if you will be sponsored, the value you will add to your sponsoring organisation – 500 words I researched all of the universities in the United Kingdom (UK) and the Warwick MBA called my attention, since it is one of best reputed universities in Europe. This will give me an opportunity to introduce myself into business and understand the Financial Markets and Management. This will expand my horizons both in the theoretical (course content) setting and the praxis (networking). This will also enable me to obtain my degree...
6 Pages(1500 words)Essay

Business Plan Real Estate Agency

re representing our company as their business consultants and our responsibilities are limited to the knowledge of the client’s business and information provided by the client.
The company Of-Fit has been operating as office supplies and equipment supplier since 1998. Their corporate office is in Aberdeen and it has excellent industry relations. The company is a sole proprietorship and its owner is Mr. Andrew Schwatz who has been working in the industry for more than 20 years. The company current staff is 8 and its revenues are £115,690 and £156,178 in 2008. The company aims to expand its operations in other business areas and regions of the UK.
The detailed business plan developed for this report incor...
12 Pages(3000 words)Business Plan

The Main Threat to Small Business

When it comes to reliability factor big businesses are able to sustain because of their track record. Big businesses are able to pacify their customers using their past successful track records.
Nowadays most of the business opportunities and orders are posted online. This means that business providers need to be well integrated with supplier systems through online facilities. The infrastructure of the business model needs to be updated. But this is not an easy task for small businesses. E-based procurement is possible only with a well-maintained network on the internet. This requires a lot of financial and technical necessities which could not be supported by small businesses. On the other hand, Big businesses are well equip...
8 Pages(2000 words)Assignment

Business Sustainability and Society: Coca-Cola Company

...Running Head: Business Sustainability & Society Business Sustainability & Society [Institute’s Business Sustainability & Society Introduction Since centuries, ethics has been a crucial and significant component of the human societies that contributed enormously in the creation of norms and values through religious influences, as well as through contribution of intellectuals and philosophers in the society. Unfortunately, nowadays, it is an observation that individuals, organizations, and even nations have commenced to overlook the phenomenon of ethics in their practices, specifically in the business sector that has become the major stakeholder confronting criticisms related to ethical practices. Critics (Crane, pp. 23-29, 2007) argue...
10 Pages(2500 words)Case Study

International Business: World Economic Forum and Davos 2010

While each force of globalization is important, the technological revolution has impacted the business models, value creation and differentiation (Spelman, 2010). The cloud computing technologies that have made the popular social networking applications possible are now being applied to development, healthcare, and society. Today mobile telephones are more like powerful computers that take care of many of the societal challenges facing both developed and developing countries (Evans, 2010). In Chile, new software enables weather information to farmers who can now make informed decisions on when and how to sow or harvest the crops. However, the fear or ignorance of cloud computing technology could harm the chances of the SMEs becomi...
7 Pages(1750 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Business Decision Making for FREE!

Contact Us