Business decision making

Bussiness decision making;

Focusing on a work role, previous work experience or a voluntary work position, using examples from your own workplace experiences where possible, and drawing on your studies of this subject, please answer ALL four sections below.

Section 1

Use and understand a variety of sources for the collection of data, both primary and secondary.

You will need to:

• Create a plan for the collection of primary and secondary data for a given business problem

• Present the survey methodology and sampling frame used

• Design a questionnaire for a given business problem

Section 2

Understand a range of techniques to analyse data effectively for business purposes.

You will need to:

• Create information for decision making by summarising data using representative values.

• Analyse the results to draw measures of dispersion to inform a given business scenario.

• Analyse data using measures of dispersion to inform a given business scenario.

• Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context.

Section 3

Produce information in appropriate formats for decision making in an organisational context.

You will need to:

• Produce graphs using spreadsheets and draw valid conclusions based on the information derived.

• Create trend lines in spreadsheet graphs to assist in forecasting for specified business information

• Prepare a business presentation effectively

• Produce a formal business report.

Section 4

Explain how you would use software generated information to make decisions in an organisation.

You will need to:

• Explain how you would use appropriate information processing tools

• Prepare a project plan for an activity and determine the critical path

Explain how you would use financial tools for decision making

Last Updated on February 11, 2019 by EssayPro