Business decision making assignment

| January 12, 2017

Question
ASSESSMENT COVER SHEET

DECEMBER SUBMISSION

Unit Number and Title

Assessment Title

Course Title

Assessment Code

Unit 6: Business Decision Making – Level 5

Business Decision Making

HND Business

HNDBUS-Unit 6/Business Decision Making/Oct2013

Hand Out Date

11th October 2013

Hand In Date

21st December 2013

Lecturer(s)

Mohit Pun

Dhan Chooramun

Gidraph Michuki

Internal Verifier

Jonathan Cartmell

Sources of information

1. Course notes / Slides / Activities / Handouts

2. Recommended learning textbooks

· BPP Business Essential Business Decision Making ISBN:9781445368238

· Newbold, P. et al – Statistics for Business and Economics (Pearson Education,2009) ISBN: 9780135072486

· Day, A. – Mastering Financial Mathematics with Excel: A Practical Guide for Business Calculations (Financial Times/Prentice Hall, 2005) ISBN:

9780273688662

· Beynon-Davies, P. – Business Information Systems (Palgrave Macmillan, 2009)ISBN: 9780230203686

To be filled by the student

THIS IS MY FINAL SUBMISSION (Delete if necessary)

Student Name

Lecturer

Student ID

Group(e.g. BDM019)

Assessment Requirements

· An electronic copy of your assessment must be fully uploaded by the deadline date and time.

· You must submit one single PDF or MS Office Word document. Any relevant images or screenshots must be included within the same MS Office Word or PDF document.

· The last version you upload will be the one that is marked. Your paper will be marked if you have indicated this as your final submission.

· Review the mitigating circumstances policy for information relating to extensions.

· The file size must not exceed 20MB.

· Answer the criteria in order, clearly indicating the pass criteria number.

· Ensure that all work has been proof-read and checked prior to submission.

· Ensure that the layout of your documents are in a professional format with font style Arial, font size 12 for the text, font 14 for sub heading and font 16 for main heading, line spacing 1.5 and justified.

· Use the Harvard referencing system, otherwise it will be considered as plagiarised work.

· Ensure that you back-up your work regularly and apply version control to your documents.

· Ensure that any file you upload is virus-free, not corrupted and not protected by a password otherwise they will be treated as a non-submission.

· You must NOT submit a paper copy or email of this assessment to any member of staff at LSST.

· Your work must be original with the appropriate referencing.

PASS CRITERIA ONLY

Pass

In order to achieve Pass, students must achieve all the pass criteria below.

Source: Google Images

LO1 – Be able to use a variety of sources for the collection of data both primary and secondary

Q1.1,1.2,1.3

Assume you work as a Marketing Executive in an organisation who wishes to launch a new product aimed at smart phone users in the UK.

The senior management team has decided to conduct both qualitative and quantitative research in the London area to test the market. You have been given the responsibility of searching for market research agencies to carry out this task.

Propose a marketing research plan to obtain information in the area. This research plan, also known as a research brief, is to be sent to three potential marketing research agencies who will respond with a detailed marketing research proposal.

Prepare this research plan.

Guidelines(Approx. 400 words) Interim recommended deadline: 14th October 2013

Your brief should include the following sections:

Background
Rationale
Objective of research
Methodology section covering among others, qualitative and quantitative techniques
Data analysis section
Timeframe within which you want the research conducted
A budget section for this research
Design a sample questionnaire for the Board to consider.
In answering this question, you will have covered the following assessment criteria

ü 1.1 create a plan for the collection of primary and secondary data for a given business problem

ü 1.2 present the survey methodology and sampling frame used

ü 1.3 design a questionnaire for a given business problem

Write your answers here

LO 2 – Understand a range of techniques to analyse data effectively for business purposes

Q 2.1, 2.2, 2.3 & 2.4

Elena, the owner of a Flower Shop, realised the importance of analysing the store’s product sales using statistical analysis while studying Business in college. She has collected some data but is finding it difficult to analyse it. So she has decided to hire you as her consultant.

The data below shows the number of flower bouquets sold in different price ranges.

Amount Spent (£)

No. of Bouquets

0-10

5

10-20

7

20-30

10

30-40

12

40-50

14

50-60

15

60-70

14

70-80

13

80-90

6

90-100

4

You are required to calculate the following:

Mean, Median and Mode and advise her on the best price range for her bouquets. LO 2.1 & 2.2
Range and Standard Deviation. LO 2.3
25th Percentile (Lower Quartile) and 75th Percentile (Upper Quartile) and explain the use of Percentile for her store. LO 2.4
Inter-quartile range. LO 2.4
Guidelines: (Approx. 300 words)Interim recommended deadline: 30th October 2013

In order to complete this task you must:

Show all formulas and workings clearly
Provide explanations where required
In answering this question, you will have covered the following assessment criteria:

ü 2.1create information for decision making by summarising data using representative values

ü 2.2 analyse the results to draw valid conclusions in a business context

ü 2.3 analyse data using measures of dispersion to inform a given business scenario

ü 2.4 explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context

Write your answers here

LO3 -Be able to produce information in appropriate formats for decision making in an organisational context

LO4 – Be able to use software-generated information to make decisions in an organisation

Q 3.1, 3.2, &4.1

Vival Ltd, for whom you are working as a Business Analyst, has provided you with the following data:

Year

Sales (£’000)

Cost (£’000)

Profit (£’000)

2002

150

110

40

2003

170

100

70

2004

210

120

90

2005

220

120

100

2006

300

150

150

2007

280

150

130

2008

250

140

110

2009

230

120

110

2010

230

130

100

2011

240

130

110

2012

280

140

140

You have been asked by the Board to forecast future Sales and Profit for the upcoming Annual Board Meeting.

Guidelines:(Approx. 250 words) Interim recommended deadline: 4th November 2013

In order to complete this task you must:

Produce a Column/Bar graph showing Sales, Cost and Profit using Microsoft Excel.
Produce a sales and profit line graph showing trend lines and project sales and profit for 5 years into the future. Show the regression equation separately on the graph.
In answering this question, you will have covered the following assessment criteria:

ü 3.1 produce graphs using spreadsheets and draw valid conclusions based on the information derived

ü 3.2 create trend lines in spreadsheet graphs to assist in forecasting for specified business information

ü 4.1 use appropriate information processing tools

Write your answers here

Q 3.3 & 3.4

The Board meeting is fast approaching and you have been asked to present your findings in the meeting. You have to produce a Report and a PowerPoint Presentation to the Board:

In your PowerPoint:

Explain what is forecasting and its benefits to an organisation.
Explain the relation between sales, cost and profit of the organisation.
In your report

Discuss the future prospects of the organisation.
Guidelines:(Approx. 500 words) Interim recommended deadline: 12th November 2013

In order to complete this task you must:

i. Use Microsoft PowerPoint to make a presentation (minimum of 10 slides).

ii. Write a formal business report using the correct format.

In answering this question, you will have covered the following assessment criteria:

ü 3.3 prepare a business presentation using suitable software and techniques to disseminate information effectively

ü 3.4 produce a formal business report

Write your answers here

LO4 – Be able to use software-generated information to make decisions in an organisation

Q 4.2

The activities involved in a computer installation project are given below:

Description

Activity

Preceding Activity

(Days)

Physical preparation

A

4

Organisational planning

B

A

2

Personal selection

C

A

36

Equipment installation

D

B

15

Personnel training

E

D

4

Detailed system designing

F

E

9

File conversion

G

F

9

Establishment of standards

H

C

2

Program preparation

I

B

10

Program testing

J

D

9

Finishing Documentation

K

G,H,I,J

20

Follow Up

L

K

20

Required:

Prepare a network diagram for activities using Microsoft Project.
Calculate the Project Duration.
Clearly mark the Critical Path.
Guidelines:(Approx. 200 words) Interim recommended deadline: 30th November 2013

In order to complete this task you must

i. Use Microsoft Project to show the network diagram, critical path and project duration.

ii.

In answering this question, you will have covered the following assessment criterion

ü 4.2 prepare a project plan for an activity and determine critical path

Write your answers here

Q 4.3

A company is considering which of two mutually exclusive projects should be undertaken. The Finance Director suggested that the project with the higher NPV should be chosen whereas the Managing Director suggested that the one with the higher IRR should be undertaken. Both projects have the same initial investment and length of life. The company anticipates a Discounting Factor of 10% and future cash flows of the projects are as follows:

Year

Project A

Cash flow

Project B

Cash flow

Investment

-200,000

-200,000

1

35,000

218,000

2

80,000

10,000

3

90,000

10,000

4

75,000

4,000

5

20,000

3,000

You are required to:

Calculate the NPV and IRR of each project.
Recommend, with reasons, which project you would undertake (if either).
Guidelines:(Approx. 150 words) Interim recommended deadline: 4th December 2013

In order to complete this task, you must

i. Calculate the NPV and IRR.

ii. For the Discounting Factor use appropriate Present Value Tables (from your BPP textbook).

In answering this question, you will have covered the following assessment criterion

ü 4.3 use financial tools for decision making

Write your answers here

END OF PASS PAPER

MERIT CRITERIA ONLY

Merit

In order to achieve Merit, students must achieve all the Learning Outcomes plus M1, M2 and M3

MERIT ONE

This question relates to Q2

Define correlation co-efficient, and advise Elena on how she can use weekly average temperature data to predict sales of bouquets of flowers for her shop.

Guidelines:(Approx. 250 words) Interim recommended deadline: 7th December 2013

In order to complete this task you must

Define Correlation Co-efficient and state its advantages to a business decision.
Explain how Elena can use Correlation for studying sales pattern in her shop.
Issue descriptive analysis only. Numbers are not necessary for this question.
In answering this question, you will have covered the following merit descriptor :

ü M1 effective judgments have been made

Write your answers here

MERIT TWO

Using the data in Q2 produce a Histogram and a Frequency Polygon on MS Excel. Please clearly label the X-axis, Y-axis and Legend Keys.

Guidelines:(Approx. 100 words) Interim recommended deadline: 9th December 2013

In order to complete this task you must

i. Use MS Excel for producing the Histogram and the Frequency Polygon.

In answering this question, you will have covered the following merit descriptor :

ü M2 a range of methods and techniques have been applied

Write your answers here

MERIT THREE

From the data available in Q 4.2, prepare a Gantt Chart and state the benefits of using this Gantt Chart as a Project Management Tool.

Guidelines:(Approx. 200 words) Interim recommended deadline: 11th December 2013

In order to complete this task you must

Use Microsoft Project to create a Gantt chart.
State the benefits and the use of Gantt chart in an organisation as a Project Management Tool.
In answering this question, you will have covered the following merit descriptor :

ü M3 a range of methods of presentation have been used and technical language has been accurately used

Write your answers here

DISTINCTION CRITERIA ONLY

Distinction

In order to achieve Distinction, students must achieve all the Learning Outcome, all merits plus D1,D2 and D3

DISTINCTION ONE

Critically evaluate the use of Time Series analysis as a tool for forecasting.

Guidelines:(Approx. 400words) Interim recommended deadline: 13th December 2013

In order to complete this task you must

i. Define Time Series Analysis (use credible sources).

ii. State how it will be used as a Forecasting Tool.

iii.Give an example of the applying time series analysis in a business environment.

In answering this question, you will have covered the following distinction descriptor :

ü D1 use critical reflection to evaluate work and justify valid conclusions

Write your answers here

DISTINCTION TWO

From the data available in Q 4.2, prepare a table showing the Earliest Start Time (EST) and the Latest Finish Time (LFT).

Guidelines:(Approx. 100 words) Interim recommended deadline: 15th December 2013

In order to complete this task you must

i. Construct a table showing the EST and LFT for the project.

ii. Show all relevant workings.

In answering this question, you will have covered the following distinction descriptor :

ü D2 substantial activities, projects or investigations have been planned, managed and organised.

Write your answers here

DISTINCTION THREE

This question relates to Q 4.3

Discuss the differences in decisions arrived at by the Finance Director and the Managing Director in Q4.3. Which decision would best serve the organisation and why?

Guidelines:(Approx. 300 words) Interim recommended deadline: 19th December 2013

In order to complete this task you must

i. Compare the differences in decisions made using NPV and IRR.

ii. Discuss the reasons for deciding on the method which best serves the company.

In answering this question, you will have covered the following distinction descriptor :

ü D3 convergent and lateral thinking have been applied

– END –

Merit Criteria

M1

Identify and apply strategies to find appropriate solutions.

M2

Select/design and apply appropriate methods/ techniques.

M3

Present and communicate appropriate findings.

Distinction Criteria

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.

The following Generic Criteria may also be applied for Merit / Distinction:

Generic Merit Criteria

GM1

Only minor and agreed deviations from the deadlines that are set

GM2

Correct technical language and notation are used throughout

GM3

All sources are referenced

GM4

All answers follow a clear logical structure and are pitched at the correct level

Generic Distinction Criteria

GD1

All recommendations made are fully justified

GD2

All deadlines are adhered to

GD3

Innovative options were proposed

GD4

Used critical reflection to evaluate own work and justify valid conclusions

IMPORTANT

CHECK THAT YOUR ANSWERS MEET THE CRITERIA

COMPLETE THE ASSIGNMENT CRITERIA AS YOU GO ALONG

DO noT LEAVE THINGS TO THE LAST MINUTE

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