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22May

Unit 6 Business Decision Making Assignment

This is a solution of Unit 6 Business Decision Making Assignment in which we discuss Developing business

Unit 6 Business Decision Making Assignment

Unit 6 Business Decision Making AssignmentPlagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student and submitting it as your own work.  Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by the College. Please see your student handbook for further details of what is / isn’t plagiarism.

Coursework Regulations

  • Submission of coursework must be undertaken according to the relevant procedure. Lecturers will give information as to which procedure must be followed, and details of submission procedures and penalty fees can be obtained from Academic Administration or the general student handbook.
  • Late coursework will be accepted by Academic Admin Office and marked according to the guidelines given in your Student Handbook for this year.
  • If you need an extension (even for one day) for a valid reason, you must request one. Collect a coursework extension request form from the Academic Admin Office. Then take the form to your lecturer, along with evidence to back up your request. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick. The completed form must then be returned to Academic Admin for processing. This is the only way to get an extension.

Learning Outcomes and assessment requirements
Learning Outcomes
In this assessment you will have the opportunity to present evidence that shows you are able to:
LO1

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

1. create a plan for the collection of primary and secondary data for a given business problem

2.      present the survey methodology and sampling frame used

3.      design a questionnaire for a given business problem

LO2

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

1. create information for decision making by summarizing data using representative values

2.      analyse the results to draw valid conclusions in a business context

3.      analyse data using measures of dispersion to inform a given business scenario

4.      explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context
LO3

Produce information in appropriate formats for decision making in an organizational context
1.produce graphs using spreadsheets and draw valid conclusions based on the information derived

2. create trend lines in spreadsheet graphs to assist in forecasting for specified business information

3. prepare a business presentation using suitable software and techniques to disseminate information effectively

4. produce a formal business report.
LO4
Use software-generated information to make decisions in an organization
1. use appropriate information processing tools
2. prepare a project plan for an activity and determine the critical path
3.      use financial tools for decision making

In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades
Grade Descriptor
Indicative characteristic/s
Contextualisation
M1Identify and apply strategies to find appropriate solutions

effective judgements have been made
·complex problems with more than one variable have been explored

· an effective approach to study and research has been applied
To achieve M1, have effective judgements and approach in using  variety of sources for the collection of data and range of techniques to analyse data effectively
M2 Select / design and apply appropriate methods / techniques    relevant theories and techniques have been applied . Read more about : Strategic Planning Process Assignment Help

  • ·     a range of methods and techniques have been applied·     a range of sources of information has been used·     the selection of methods and techniques/sources has been justified·     the design of methods/techniques has been justified·     complex information/data has been synthesised and processed·     appropriate learning methods/techniques have been applied

To achieve M2, apply and justify learning methods/techniques, synthesise and process complex information to produce information in appropriate formats in decision making and in using software-generated information

M3 Present and communicate appropriate findings
the appropriate structure and approach has been used

·     coherent, logical development of principles/concepts for the intended audience

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

·     communication has taken place in familiar and unfamiliar contexts

·     the communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used

To achieve M3, you need to use range of methods of presentation, have accurate technical language and appropriate communication to produce information in appropriate formats in decision making and in using software-generated information.

D1 Use critical reflection to evaluate own work and justify valid conclusions
conclusions have been arrived at through synthesis of ideas and have been justified

·   the validity of results has been evaluated using defined criteria

·   self-criticism of approach has taken place

·   realistic improvements have been proposed against defined characteristics for success

To achieve D1, justify conclusions through synthesis of ideas and propose realistic improvements for the collection of data and range of techniques to analyse data effectively

D2 Take responsibility for managing and organising activities     autonomy/independence has been demonstrated

·     substantial activities, projects or investigations have been planned, managed and organised

·     activities have been managed

·     the unforeseen has been accommodated

·     the importance of interdependence has been recognised and achieved

To achieve D2, properly manage activities in using  variety of sources for the collection of data and range of techniques to analyse data effectively
D3 Demonstrate convergent /lateral /  creative thinking  ideas have been generated and decisions taken

·   self-evaluation has taken place

·   convergent and lateral thinking have been applied

·   problems have been solved

·   innovation and creative thought have been applied

·   receptiveness to new ideas is evident

·   effective thinking has taken place in unfamiliar contexts

To achieve D3, incorporate your previous knowledge to produce information in appropriate formats in decision making and in using software-generated information.
Assignment title
Business Report
Purpose of this assignment

The purpose of this assignment is to give you the opportunity to demonstrate knowledge of the techniques for data collection and storage; the skills and tools to create and present useful information, in order to make business decisions.

The assignment covers all the learning outcomes of the unit and learners will be required to use spreadsheets and other software for data analysis and the presentation of information.

The assignment will consist of three separate parts, which will be presented in a report style format.

Scenario& Tasks

Scenario 1: Use a variety of sources to collect data and software generated information to make decisions in an organisation. (LOs 1 & 4)

There have been various complaints recently from students concerning different issues they face at St-Patricks College. You have been assigned the task of conducting a research for the business management regarding student satisfaction. A major reason for students’ dissatisfaction is the poor and ineffectual flow of information and the apparent lack of a graduation ceremony at the end of their studies.

The management is willing to spend £10,000 on this research but would like to see how you plan to do it.

Task 1

·         Create a plan for the research outlining the primary and secondary data collection techniques you will use (AC 1.1)

·         Identify and justify the survey methodology & sampling frame you will use for the research (AC 1.2)

·         Design appropriate questionnaire to collect the data on students’ satisfaction. Justify the questionnaire. Explain your choice of questions and comment on the relevance of each question to the research purpose.( AC 1.3).

(Your plan should include a brief background of the scenario stating the objectives and rationale of the research, methodology detailing primary or secondary and quantitative or qualitative techniques. You should also include a time frame and budget for this research and explain how you intend to analyse the data. You need a questionnaire using both closed and open ended questions to collect the data(Guided number of questions is 20).)

(ACs: 1.1, 1.2, 1.3)

To achieve M1, have effective judgements and approach in using  variety of sources for the collection of data and range of techniques to analyse data effectively

To achieve D1, justify conclusions through synthesis of ideas and propose realistic improvements for the collection of data and range of techniques to analyse data effectively

To achieve D2, properly manage activities in using  variety of sources for the collection of data and range of techniques to analyse data effectively

Task 2

·         Review the management information system for the college and suggest processing tools for operational, tactical and strategic levels of the college. (AC 4.1).

·         You have been assigned the task of organising a graduation ceremony for the HND students. The preparation should take no longer than one week. Prepare a project plan, including a Gantt chart, and determine the critical path. You can use Microsoft Open Project to draw the Critical Path. (AC 4.2).

·         The management wishes to implement a new business Management Information System (MIS) in response to students concerns for good information. It is considering making an investment in one of two systems to improve communication. The projected net cash flows for each system are shown in the table below. (AC 4.3).

·         Calculate the average rate of return of each MIS system.

·         Calculate the discounted cash flow for each system using a discount rate of 15 percent and determinethe net present value of each project.

·         Explain which of the two MIS systems the college should select.

·         To what extent will qualitative factors have an influence on the investment decision in this case?      (LO 4: 4.1, 4.2, 4.3)

To achieve M1, demonstrate the effective approach of studying the MIS and adequate research has been applied to present and analyse the outcome.

To achieve D3 demonstrate the evidence that original ideas have been generated and effective decisions taken commensurate with the case study

Scenario 2: Analyse data and prepare a business presentation in a formal report format to disseminate information effectively. (LOs 2 & 3).

X Ltd, for whom you are working as a Business Analyst, has provided you with the output of twenty employees during one week, in units.

The company has also provided its sales and profit data for the period 2004 to 2013 as follows:

Year Sales (£’000) Profit (£’000)
2004 200 120
2005 230 150
2006 300 200
2007 270 110
2008 330 220
2009 350 240
2010 300 200
2011 320 180
2012 380 260
2013 350 280

Task 3

·         Calculate the Mean, Median, Mode and advice the company on the best output range

·         Create graphical representation of the data using a histogram and cumulative frequency curve.

·         Determine and show the upper quartile (75th percentile) and the lower quartile (25th percentile) on the curve.

·         Determine the Interquartile range and the Standard Deviation and advice the company on the best output decisions.

(You must be able to carry out suitable calculations using spread sheet software and analyse results to draw useful and realistic conclusions and provide valid recommendations to support the board in decision making.)

(ACs: 2.1, 2.2, 2.3 & 2.4)

To achieve M2, apply and justify appropriate business methods/techniques and synthesize information to produce information in appropriate formats in decision making.

To achieve D2 demonstrate the use of a range of business techniques to get the results and analyse data using original and lateral thinking effectively.

Task 4

You have been asked by the Board to forecast future sales and profitability of the company for their next Annual Board Meeting.

·         Produce a Multiple Bar chart showing sales and profit for the period

·         Produce a scatter graph of the data

·         Produce trend lines and forecast sales and profit for 2018

·         Determine the degree of relationship9Correlation) between sales and profitability

·         Present your findings to the Board in a formal business report

(Use Microsoft Power point to make the presentation (a minimum of 10 slides). Your report should include an introduction and conclusion. The introduction should include a brief back ground of your company and the meaning of forecasting and its importance to the Board’s decision making. The conclusion should summarise your findings and the relationship between sales and profit.)

  (ACs: 3.1, 3.2, 3.3, 3.4)

To achieve M2, apply and justify learning methods/techniques, synthesise and process complex information to produce information in appropriate formats in decision making and in using software-generated information

To achieve M3, you need to use range of methods of presentation, have accurate technical language and appropriate communication to produce information in appropriate formats in decision making and in using software-generated information.

To achieve D3, incorporate your previous knowledge to produce information in appropriate formats in decision making and in using software-generated information.

Guidance

·         A contents page and a short introduction should be included in the assignment

·         You are advised to explain the analytical methods within each task

·         All calculations and graphs should be produced on Excel and pasted into a Word document.

·         To improve the presentation of the assignment, copy spreadsheet work from Excel into Word using, Copy, Paste Special and then select Picture.

Remember:

·         Include a conclusion for the overall assignment

·         Include a reference list using Harvard referencing style

Evidence checklist
Summary of evidence required by student
Task 1
Prepare a research report detailing a plan for collection of data, survey methods and questionnaire to use Task 2 Application of business software in using business decision making tools and analysing the results.finance to the
Task 3
Present a range of techniques required to analyse data effectively for business purposes.
Task 4
Analyse and present the business information in appropriate format for business decision making.

Achievement Summary

Qualification

Pearson BTEC Level 5 HND Diploma in Business
Assessor name

Unit Number and title
Unit 6Business Decision Making
Student name

Criteria Reference
To achieve the criteria the evidence must show that the student is able to:Achieved?

(tick)
LO 1
Be able to use a variety of sources for the collection of data, both primary and secondary

1. create a plan for the collection of primary and secondary data for a given business problem

2.present the survey methodology and sampling frame used

3.design a questionnaire for a given business problem
LO 2
Understand a range of techniques to analyse data effectively for business purposes.
1.       create information for decision making by summarizing data using representative values

2.       analyse the results to draw valid conclusions in a business context

3.       analyse data using measures of dispersion to inform a given business scenario

4.       explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context
LO 3
Produce information in appropriate formats for decision making in an organizational context
3.1

1.       produce graphs using spreadsheets and draw valid conclusions based on the information derived

2.       create trend lines in spreadsheet graphs to assist in forecasting for specified business information

3.       prepare a business presentation using suitable software and techniques to disseminate information effectively.

4.       produce a formal business report.
LO 4
Use software-generated information to make decisions in an organization

4.1

1.       use appropriate information processing tools

2.       prepare a project plan for an activity and determine the critical path

3.       use financial tools for decision making

Higher Grade achievements (where applicable)

Grade descriptor

Achieved?

(tick)

Grade descriptor

Assignment Feedback

Formative Feedback: Assessor to Student
Action Plan
Summative feedback
Assessor Signature  

Date

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