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Unit 2 Business Decision Making Level 5 Higher National Certificate

Introduction

Business decision making process plays a crucial role for every single organisation. It can be helpful for firms in managing the resources or it can help in expansion as well in targeted areas. Proper execution of determinations which has been made by senior authorities may ad organisation in hitting its targets (Rothman, 2017). In present report, DG Fashions which is a clothing retail company has been taken which is looking forward to expand its business. CEO of this retail corporation has decided to spread the business throughout the nation. Wembley Central which is located in London is being considered as an ideal place where company can open its outlet. Report will show sources of data collection, advantages of using quartile, percentile and coefficient correlation, it will also include various charts, graphs along with investment appraisal tools that will help organisation in business expansion.

Task 1

Formal report

REPORT

To,
The Manager of clothing retail company
Date: July 31st, 2018
Subject: “To determine the behaviour of customer related to opening an outlet of DG Fashions at Wembley Central”.

Introduction:

In this investigation, researcher have carried out the information which is related to perceptions of customers through which they can easily help in company in making effective decisions. Primary along with secondary data are two methods that can be used by company in order to bring out the data.

Methodologies:

Researcher in present context have used various methods in order to draw more reliable outcomes that can help DG Fashions in opening an outlet at Wembley Central. Methods like descriptive and qualitative methods are going to be used under this investigation by the investigator.

Findings:

With the help of using appropriate methods, it is required for researcher to select respondents where 50 have been chosen with the help of random sampling method. It is found that high in numbers respondents were pretty much happy because of the outlet is going to get open near their houses or offices and because of trendy clothes that are being offered y this organisation. It has also been found that, outlet has offered fresh drinks as well that are being consumed by its customers which can be considered an an attractive factor.

Recommendation:

It is being recommended that, using of new and updated technology through which company can promote its cloths. On the other hand, DG Fashions needs to focus on both quality and current trends if they wants to sustain at marketplace for a longer period of time. On the other hand, making favourable policies for employees so that high turnover of employees can be reduced to zero. Organisation also needs to focus on some special offerings that can be offered by them so that to grab attention of customers high in numbers.

Conclusion:

It is being concluded that, making effective decisions related to quality and trends can be helpful for organisation through which they can easily expand their business in a successful manner. Successful completion of investigation can help out company in opening up a whole new outlet at Wembley Central with taking help of customers and through analysing the competition as well.

1.1: Sources of data collection

Data collection can be considered as an approach which aid in collecting information which can be analysed in order to take appropriate decisions. Mainly, in business world company uses two type of methods under data collection and these are: Primary and Secondary data. In present context, CEO of DG Fashions has decided to expand its business at Wembley Central and have found out a suitable and ideal empty outlet. Organisation have chosen this place because it is and about 10 minutes away from Wembley Central Tube which is a walking distance (Pourshahid, Richards and Amyot, 2011).

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