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The project report is all about the topic of business decision making which is a term describe as a course of action specifically selected from a various alternatives to achieve their organizational goals and targets. Under this report as representative of student in UK college of business I have to design plan by doing survey by collecting data from various sources and on the basis of this QAA team will review the college (Ariely and Berns, 2010). Basically whole business is depend upon the effective decision of an entrepreneur which means decision making is a very critical part and continuous for the business activities.
Mainly business decision making is all about collection of appropriate data either from secondary or primary which act as very helpful while judgement making process. In other words enterprise decision making explains all the necessary factors whatever is required while making useful decision for the amended of enterprise. In addition a perfect and appropriate plan must required for the organization just to take correct decision with the help of various graphs, pie-charts and by using various useful data or information in business decision making. So the business decision making is all about taking of a useful decision for the organization.
Under this product report there are various task that are discussed, which is associated with functional aspects of business decision making regarding UKCBC. In the First task a survey research is conducted from sources of data collection about UKCBC to know reviews of students and staff about their satisfaction. In the nest part is covers, various athematic calculation to know the mean median and mode through using graphs. At the end of the report NPV and Critical path is explain to know minimum time need to complete a project.
Planning is a term by which an administration can easily meet their organization objectives by making effective decision to avoid various future mistakes and errors which may occur while planning period (Casadesus-Masanell and Ricart, 2011). Primary and secondary data are the various sources by which an organization can easily collect relevant data and information regarding the college facility and other issues.
Primary data are also known as first hand information which means the information collected by researcher itself and it also known real time data. In fact this data are based on personal experiences and observations to get accurate results.
secondary data are known as second hand data collected by other person for the use of business to make effective decision. Secondary data can save the time of a an organization because they are already find by other member for example literatures, evidences, social sciences or any past records.
1. Genuine: The questions are based on the real investigation and deliberation.
2. Promises insight: It is based on knowledge and perspective or insight which has been already asked and answered.
From the above mentioned sources primary data is useful for our survey because it will provide fresh ideas and view about their college. The research is based in context if information is relevant through primary sources.
While secondary sources are just to easy because data are already available about UKCBC . so primary data is used under this research and by using this short, and open ended questions is being asked from various students and youngsters. Normal survey question is being asked under this research.
The information sources is campuses of UKCBC colleges about its CSR, Tourism and social care regarding their students.
“Survey is all about the student satisfaction and experience that they are getting from the UK of business and computing. Regarding their views and perception we have to plan and design a report by using the various research methodologies and frame”.
Research methodology is the term which means to find a relevant information by adopting various effective strategy to attain their goals. Basically research methodology explicit the overall advantages and disadvantages applied in the above data collection plan (Gigerenzer and Gaissmaier, 2011). In fact sampling is one of the very effective and useful technique applied by the organization to sewing useful information to make use of them in the business.
Sampling frame is a statement or is a source by which an enterprise can select an appropriate alternatives from a large one which means sampling frame is a method of sudden selection from various data. It is of two types :
In fact with the help of sampling method an organization can easily gather qualitative and quantitative data according to the requirement in business process. However which means survey is primarily shows all the essentials technique and method which is useful while making plans by considering all the factors like consumer satisfaction, preferences, attitude and behaviour towards the college as well as facilities they are getting from it (Ho, Xu and Dey, 2010).
Research methodologies are used to study implication of uniform action through conducting research in UKCBC college. It help to contextualize its findings within the large body of research. The set goal of analysing survey regarding satisfaction and experiences of their students are being easily evaluated. The key of research relies in iteration. It will be helpful in revision and improvement of research with new ideas and innovation.
Main use of sampling framework is to used the qualitative and quantitative data properly. Make sampling from various numerical information and on that basis provide ranking to the most appropriate techniques. It mostly conducted through Questionnaires, taking face to face interviews, or by observing there responses towards asked questions.
Q.1 In which campus of UKCBC you are?
(a). Park Royal campus
(b). Crickewood campus
(c). Lords House campus
(d). Oxford street campus
Q.2 Which course are you attending?
(a). Business management
(b). Travel and tourism
(c). Social care
(d). IT technology
Q.3 Does the security structure great in the grounds?
(c). Below desire
Q.4 Was the environment clean and easy?
(a). Most likely
(c). Dis likely
(d). No Comment
Q.5 What is best in UKCBC college?
(a). Studying environment
(b). cooperative staff
Q.6 Canteen comforts provided by college administration is?
Q.7 Protection facilities provided by the college administration to their students?
(a). Extremely satisfied
(c). Not satisfied
Q.8 What is your level of satisfaction with the college?
Q.9 Does the Behaviour of the Faculties are good?
Q.10 Whether the College Negotiating the issues of students?
(c). No Comment
Q.11 Is any Raging is done in the college?
Q.12 Does experience from this college will help you?
(c). Can't say
Q.13 How can you improve your UKCBC college performance?
Q.14 Feel free to provide additional comment or feedback?
Thank you for your valuable time to complete this questionnaire.
|Year||No. of students||Satisfied students|
From the above figuring, it has been analyse that in year 2011, there are no. of students selected in the UKCBBC and 2284 were the students who were fully satisfied from the college institutions and their business office which they have been given to the scholar (Kahneman, Lovallo and Sibony, 2011). In 2012, number of students sign up in the school are enlarged as they ends up to 4112, and the fulfilled scrutiny among them are 2673. In 2013, the balance have been totally changed as more students have enlisted and their big part were going expanded to 4817 and number of students who were satisfied likewise increased. A similar situation have reliably gone till to the 2016. form the above data, it is determine that the UKCBBC is become one of the top college which is growing every year with large number of satisfied students.
Total Number of student/Number of year
Middle value of the digit /2
= NO Values because of less repetitions.
Standard deviation : 1851
Coefficient of correlation is 1.
On the basis of the above data collection by felling the questionnaire from the number of students and college faculties we have analysed that UKCBBC is one of the great colleges in UK which is delivering the better facility and results to the economy and the satisfaction to students (Li, 2010). This lead to regular admission of students in the past coming years till the current situation. The mean of the data is 5392 which is average collection of the students from the continuous admission in the year. The median of the survey is 5223 which is again be the situation of middle year capacity of student. And the mode value is recorded as Nil because there are different in the figure of the data collection.
As we have seen in this data collection from the various year performance that the no .of students are increasing at the regular basis which means that the college is good enough to satisfy the needs and providing sufficient information and valuable knowledge to the students (McGrath, 2010). The data is also indicating that satisfied students from the facilities of the colleges and environment.
The Logical thinking says that one of the finest college is delivering healthy outcomes to the students and also free from any kind of issues and the grievances between the students and faculty members. Consequently, these all are the values which have been utilized for framing the decisions of the company. With the resource of delegate choice, organization could ready to have the decisions for powerful moving of the organization.
Dispersion: It refers to the statistical collection of the portfolio return. It is the variation of different member and students of a population. It can be said that process of distribution of the ideas over huge areas (Pettigrew, 2014).
1. Relative measure of dispersion: as we have find out that the absolute measure has failed to compare the total about of dispersion. It help to measure two or more than two sets of observation through this dispersion.
2. Absolute measure of dispersion: under this there will be the same units as it in the original observation. If it is in kg then the observation is also in kg. It is mainly used in mean ,range, standard deviation and quartile deviation.
Measures of central tendency does not gives the perfect data keeping in mind the end goal to make the research methodology satisfactory (Schaltegger and Burritt,2010). That is the reason, why the measure of dispersion are utilized to draw a substantial and productive conclusion. Measures of dispersion contains standard deviation, quartiles, percentiles, skewness, range etc. as, this is the actual tool which are most effective for making a productive conclusion.
Under the given case, standard deviation is the instrument through which the risk can be determined. Here, the standard deviation is 1851.
Coefficient of correlation is one of the technique of measure of dispersion which demonstrates the connection between aggregate number of students and the aggregate number of fulfilled students. Here, under the given circumstance, the coefficient of correlation is 1 which shows the ideal connection between aggregate number of students and the aggregate number of fulfilled students.
Quartile: It refers to be the type of quantile. Under this each of the group is divided according to distribution of a particular variables or segments. Quartiles are utilised to compute the variance between the specify segments ( Binns and Tushman, 2010). Quartiles are of three sorts i.e. to begin with quartiles, second quartiles and third quartiles. To start with quartiles display the 1/25th estimation of the component, second shows 50th qualities and the third quartiles shows 75th regard and the last quartile show the 100% estimation of the part.
Percentile: It is measure which is used in statistical values below a given percentage of various observation in a particular group of categories. Each of the 100 groups under which population is divided as per the values of the variables. As we judged according to the situation of 20th percentile is value beneath which 20% of the observations may relies.
Coefficient of correlation can be the number which is quantified a correlation between the two or more values in the observations. Under this the value of r =1 that means perfect positive correlation and if the value of r=-1 that stats that perfect negative relation . To know the reaction of the student for their college this is the important methods which can provide correct idea about the experiences and thought towards their college. So as per my analysis they have to go for the correlation techniques ( Trevinyo-Rodríguez and Velamuri, 2010) .
The Bar graph showing the total number of students that are enrolled in the various year . The yellow is the total satisfied number of student from the college and want to communicated the other to take part and the admission in college (Turban, Sharda and Delen, 2011). The red line shows total number of student during 2016 it is more as compare to the 2011.
This pie charts indicate the total number of the enrolment that has been done the different year. As in 4,5 and 6 there are not much difference because their is continuous admission has recorded in the survey from the last various year. There is minimum enrollee in the 2011. as compare to the other colleges (Tzeng and Huang, 2011) . The student perception towards the college was also commendable because all the report can be made on the basis of the information provided by the student about their college UKCBBC.
Line chart : It refer to the line which indicate tendency of something like it student capacity and the their observation and behaviour (Vercellis, 2011) . It is a kind of geographical property or set of various points in a single graph. It represent the attitude and behaviour of the students of the UKCBBC colleges toward the satisfaction as data taken to determine a certain reaction from these pattern.
The line chart explains the total number of the students at upper side of efficient frontier and the lower segment of the graphs shows the satisfied students from their college from 2011 to 2015. The but from this graph the no. of students are higher then the satisfied students. it is continuous increase from 2014 to 2016 (Wu and Pagell, 2011). That are going away as the year progresses. As per this trend line chart, it is watched that the UKCBBC have an grow patterns which reflects the large impact for the innovative students which are conjecture to take affirmation in the said college. Eventually, this is extraordinary sign. This is basic used as a bit of share market and other affiliation like trade energetic. Trend line is utilized as a part of each relationship to handle their favourable position and loses (Yager and Kacprzyk, 2012).
19th May 2017
The survey was conducted in the UK College of Business and Computing (UKCBC). It was found that there was around 1500 students in the college. These students were from class 12th to the final year (Zikmund and et., al. 2013). The educational background of all the students were different. Some students were from arts background, some from science and commerce. The research was conducted in various location as London, Manchester, Glasgow and Bristol and other location of UK. The objectives of this report is to know about that whether the students are satisfied with their streams or college.
There are some limitation to this survey that only limited students are responsive because they have to go for their classes. Other thing is the survey is limited to the certain rule of the colleges. It was found that 55 % of student was highly satisfied with their stream, 30% of student was moderately satisfied, 10% of student was not satisfied, 5% of student was highly dissatisfied (Zsambok and Klein, 2014). There were many suggestions given by the student to improve the facility in the college related to the canteen and classroom or the locality. Most of the students suggested to change the governance of the college and the behaviour of the faculty toward the students. There are various other recommendation have been given to the student satisfaction toward the teaching quality, attitude and style of the faculty and other staffs. The are main issues which can be suggested to overcome like environment friendly , advance facilities for the male and female and various department of colleges.
Lead Student Representation
All the business organisation requires information for various purpose :
1. Planning for the future (Maxwell, Jeffrey and Lévesque, 2011).
2. Controlling the activities
3. For the recording of the daily transactions.
4. To measure the performance of the employees in the organisation regarding their work performance.
5. The last thing is about the decision making.
Management information system is the useful system to manage the efficiency of organisation effectively. These are combination of the plans and procedure based on designed form,organisation structure and persons who are well enough to control the administration by using resources. The outcome from this will categories into two parts :
most of the economy from banking to retailing ,manufacturing to defence are totally rely on the modern information system which well help them to calculate and maintain the relevant information about their company.
The level of the decision making can be required to support the main three levels of the organisations that are : strategic, tactical and operational
information system must be design in the way that it meet the needs of these three levels:
It provides information to the senior management so that they can take effectual decisions in their business. It is for the analytical work. It provides assistance to the strategic management stick and senior most person so that they can formulate their strategy according to the information.
It raise the ratio of the employees of the organisation. It provides aid to employees and reduce the paper work. Example- computer software Microsoft office XP, it provides helps to the employees to work from home and it reduces the paper work.
|ID||Active||Task Mode||Name||Duration||Start||Finish||Predecessors||Outline Level|
|1||Yes||Manually Scheduled||A||2 days||5/19/17 8:00 AM||5/22/17 5:00 PM||1|
|2||Yes||Manually Scheduled||B||4 days||5/23/17 8:00 AM||5/26/17 5:00 PM||1||1|
|3||Yes||Manually Scheduled||C||6 days||5/29/17 8:00 AM||6/5/17 5:00 PM||2||1|
|4||Yes||Manually Scheduled||D||3 days||5/23/17 8:00 AM||5/25/17 5:00 PM||1||1|
|5||Yes||Manually Scheduled||E||6 days||5/29/17 8:00 AM||6/5/17 5:00 PM||2||1|
|6||Yes||Manually Scheduled||F||1 days||6/6/17 8:00 AM||6/6/17 5:00 PM||5||1|
|7||Yes||Manually Scheduled||G||3 days||6/6/17 8:00 AM||6/8/17 5:00 PM||3,4||1|
|8||Yes||Manually Scheduled||H||2 days||6/9/17 8:00 AM||6/12/17 5:00 PM||6,7||1|
Critical path: 1-2-3-7-8
= 17 days.
As per the above meintoned crital path of various duration . It has being intrepreatated that the fastest and path is the 1-2-3-7-8 =21 days but it takes lost of time to the activites. In the next path would be 2-4-6-3-2 =17 days. According to this path the time duration taken for the activites are less then the earlier one (Nielsen, and Nielsen, 2011). So as per the suggestion the most favarable path would be the second one. The activity are design in such a manner that only two possible paths can be designed. But the result can be generated through the those option which is taking less time.
Financial tools are the various effective planning and strategies which may require while decision making process it means that decision making is a very broad concept in the organization which require lots of expertise and skills to take any big decision in an enterprise. So to take useful decision appropriate tools are used by leaders or researchers while decision process. In fact in a travel and tourism these tools act as a very important part because of their advantages and benefits as it requires while decision process (Smith, 2010).
|year||cash flows||PV factor@10%||Net cash flow|
As per the above estimation report, association contribute 15000, and in the succeeding years project can make the Net Present Value is 7702 (Cash Flow,2017). it reveals that by contributing 15000, association can make the net additional inflow of 7702 subsequently, the affiliation's wander should be recognized as it addresses the positive sign in the project.
In the given case, The internal rate of return of the association is 35% (Sosna, 2010). In this way, it has been revealed that the net income of the association is zero, when the organisation loan cost is 35%. In the event that, that the association's advance cost is 35% then, the net present estimation of cash inflow is comparable to the present estimation of cash outflow. Now of condition, the net present estimation of the firm is zero.
As per the above report, it has been found that the UKCBBC college is required to take an efficient decisions. Here, in this scenario, it is found that, before going to take decisions in the institution, there is required to gather the information seriously. Under this project various calculation is done like mean ,median ,mode and the critical path is also being analysed to know the time required for the activities. In the last part of the report contain the cash flow statement and the internal rate of return that the organisation getting for the company .
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