|Qualification||Unit number and title|
|BTEC Level 5 HND Diploma Business||UNIT 6:|
|Student name and ID number||Assessor name|
|Date issued||Completion date||Submitted on|
|18th of January 2016||08th May 2016 by 5:00pm|
|Internal Verifier||Dr George Panagiotou|
|Assignment title||Business Decision Making|
|Instructions||· 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 it 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
|I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.|
Student signature: Date:
|Introduction and guidance|
|Welcome to the Business Decision MakingAssessment paper|
The aim of this unit is to give you the opportunity to develop techniques for data gathering and storage, an understanding of the tools available to create and present useful information, in order to make business decisions.
In business, good decision making requires the effective use of information. This unit gives learners like you the opportunity to examine a variety of sources and develop techniques in relation to four aspects of information: data gathering, data storage, and the tools available to create and present useful information.
ICT is used in business to carry out much of this work and an appreciation and use of appropriate ICT software is central to completion of this unit. Specifically, learners will use spreadsheets and other software for data analysis and the preparation of information. The use of spreadsheets to manipulate numbers, and understanding how to apply the results, are seen as more important than the mathematical derivation of formulae used.
You will also gain an appreciation of information systems currently used at all levels in an organisation as aids to decision making.
The scenarios and questions below need to be addressed fully for you to achieve a pass in this paper.
In addition, you will need to address the merit and distinctions within your answers to achieve a merit and a distinction
Read the scenarios thoroughly.
This paper consists of four tasks.
In order to answer the tasks set in this assignment, you need to have fully read and understood the case study provided in class (on Syngenta).
“Syngenta is one of the world’s leading companies with more than 28,000 employees in some 90 countries dedicated to our purpose: Bringing plant potential to life.”
“Amistar is a broad spectrum fungicide ideally suited for use in the Integrated Pest Management.”
Assume you are the Associate working on theAmistarproject for Syngenta.
Your line manager, the Director of the department is currently preparing to launch the product in a new market, and has set you some very important tasks.
These are given to you in this assignment (Tasks 1 to 4), which you will need to attempt, to a high standard, as the launch of the product will depend on your outcome.
-End of Assignment Brief-
|Task 1 –Report: This task offers you an opportunity to achieve L.O.1: 1.1, 1.2, 1.3, 3.4, M2 and M1|
You are required to write a report to your line manager including answers to the following tasks:
Select a country of your choice where Amistar can be launched, and discuss the reasons why your chosen country seems appropriate for expanding your business. This report should also contain a plan explaining how you will collect the primary or secondary data,anda discussion of the survey methodology you will adopt as well as the sampling method you will use.
(LO1.1, LO 1.2 , LO3.4&M2)
Write in a formal report format. You need to pick a country of your choice, justify the choice for expanding the Amistar business. You need to identify whether Primary research or Secondary research is more appropriate for this exercise. You then need to mention the correct tools/techniques of data collection as well as the types of sampling method.
To achieveM2You will use range of sources of information. Range refers to quantity and variety of sources
Design a market survey questionnaire (with around 12 carefully adapted questions) that can be used to gain more insights for launching Amistar in a country that you have chosen (include concepts like product preference, place, price and promotion, etc.).
A good standard survey questionnaire is required here, together with a variety of questions such as open-ended, close-ended, dichotomous, etc.
Explain, in approximately 200 words, how you calculate the coefficient of skewness. Justify and explain how you can use this concept to improve the performance of a business?
(To achieve M1:You will provide supporting and contrasting examples to explain a complex issue.)
|Task 2– This tasks offers you an opportunity to achieveLO2: 2.1, 2.2, 2.3,2.4 and D2|
Your line manager wants to know more about the potential annual expenditure on Amistar by the different counties of your chosen country (assume there are a total of 150). He has asked you to conduct more research, and you grouped the estimated results as follows:
Calculations are required for Q1 and Q2 only:(showing all steps involved, and giving answers to 2 decimal places)
Mean, Median and Mode, and ,in a paragraph, analyse and explain the significance of these calculations to an organisation like Syngenta.(LO2.1 & LO2.2)
Notice that these are grouped data, and therefore, a different set of calculations is needed from ungrouped data. Calculations for ∑fx, CF, Median class, modal class, etc should be shown. Show all formulae used.
Range and Standard Deviationand,in a paragraph, analyse and explain the significance of these calculations to an organisation like Syngenta.(LO 2.3)
Notice that these are grouped data, and therefore, a different set of calculations is needed compared to ungrouped data. Calculations etc should be shown together with the formulae/methods used.
Explain the use of quartiles, percentiles and the correlation coefficient to an organisation like Syngenta.(LO 2.4)
No calculation is required here. You only need to explain how the concepts of quartiles, percentiles and correlation coefficient may help an organisation like Syngenta.
To achieve D2, you need to ensure that you had substantial investigations planned, managed and organized. Include a list of your references at the end of your work using the Harvard referencing style, with at least 10 credible sources.
|Task 3 – This tasks offers you an opportunity to achieveLO3: 3.1, 3.2, 3.3,M3 and D1|
Your line manager is really proud of your progress with the Amistar project so far.
Fortunately, another market has also noticed the importance of Amistar and is keen to
understand what your company has to offer before signing a contract.
Your line manager has provided the following data from the Japanese market and has
asked you to make them presentable for the meeting.
You are required to complete the following:
Produce a Column/Bar graph showing Sales, Cost and Profit using software such as Microsoft Excel, and, in a paragraph, draw valid conclusions based on the information derived. (LO3.1)
You are supposed to use using software such as MS Excel for this activity. Follow the instructions as shown in class, and provide screen shots as answers. Draw valid generic conclusions from your graphs.
Produce sales and profit line graphs showing trend lines which can be used for projecting both the sales and
profit. Show the regression equation separately on the graph. (LO3.2)
You are supposed to use using software such as MS Excel for this activity. Follow the instructions as shown in class, and provide screen shots as answers.
Prepare a presentation using software such as Microsoft PowerPoint, for the upcoming meeting. Apply part of your answersfrom Q.1and Q.2 in this task, drawing valid conclusions and recommendations.
You are supposed to usesoftware such as MS PowerPoint for this activity. Follow the instructions as shown in class, and provide screen shots as answers.
To achieveM3 A range of methods of presentation have been used and technical language has been explained
In approximately 300 words, critically evaluate the use of Time Series Analysis as a tool for forecasting.
|Task 4 –This tasks offers you an opportunity to achieveLO4: 4.1, 4.2, 4.3 and D3|
Your Line Manager is planning to construct a new warehouse and predicts the following activities will take place:
From the data above, prepare a Gantt Chart, and state the benefits of using Gantt Charts as a Project Management Tool. (LO4.1)
You are supposed to use software like MS Project or Open Project for this activity. Follow the instructions as shown in class, and provide screen shots as answers.
Briefly, state the benefits of Gantt charts.
Prepare a network diagram for the activities usingsoftware like Microsoft Project or Open Project, clearly showing the critical path. In addition, show your calculation and answer for the Project Duration. (LO4.2)
You are supposed to use software like MS Project or Open Project for this activity. Follow the instructions as shown in class, and provide screen shots of your answers. Also, calculate the Project Duration.
Your Line Manager is deciding whether to go ahead with the Grangemouth Project (of setting up a new production plant), and has also been suggested Inverness as an alternative site. He therefore needs to choose between the two mutually exclusive projects (Grangemouth or Inverness), as economic resources are limited.
Both projects have the same initial investment and expected life. The company anticipates a Discounting Factor of 10% and future net cash flows of the projects are as follows:
You are required to calculate (showing all workings):
The Payback period, Accounting Rate of Return(ARR) and Net Present Value(NPV) of each project. Recommend which project to undertake, and state why you would recommend this option. (LO4.3)
You need to use tables using MS Word or MS Excel showing calculations, as discussed in class. You will also need to choose between the 2 projects, together with appropriate justification.
D3 (This question relates to Q.3)
(i) Calculate the Internal Rate of Return(IRR) for each project (Using software such as MS Excel, or Linear Interpolation, and giving your answers to 2 decimal places)
(ii) In approximately 300 words, critically evaluate the four measures of investment appraisal (Payback period, ARR, NPV and IRR).
UNIT 6:Business Decision Making
On successfulcompletion of this unitall learners will:
|LO.1 Be able to use a variety of sources for the collection of data, both primary and secondary|
|1.1 Create a plan for the collection of primary and secondary data for a given business problem|
1.2 Present the survey methodology and sampling frame used
1.3 Design a questionnaire for a given business problem
|LO.2 Understand a range of techniques to analyse data effectively for business purposes|| 2.1 Create information for the decision making by summarising data using representative values|
2.2 Analyse the results to draw valid and useful conclusions in a business context
2.3 Analyse data using measures of dispersion to inform a given business scenario
2.4 Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context
|LO.3 Be able to produce information in appropriate formats for decision making in an organisational context|| 3.1 Produce graphics using spreadsheets and draw valid conclusions based on the information derived|
3.2 Create trend lines in spreadsheet graphs to assist in forecasting for specified business information
3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectively
3.4 Produce a formal business report
|LO.4 Use software-generated information to make decisions at operational, tactical and strategic levels in an organisation|
| 4.1 Use appropriate information processing tools|
4.2 Prepare a project plan for an activity and determine the critical path
4.3 Use financial tools for decision making
|Merits and Distinctions |
M1You will provide supporting and contrasting examples to explain a complex issue.
M2You will use range of sources of information. Range refers to quantity and variety of sources
M3 A range of methods of presentation have been used and technical language has been explained
D1 Realistic improvements have been proposed against defined characteristics for success.
D2 Substantial activities, projects or investigations have been planned, managed and organized
D3 Self-evaluation has taken place
Business Decision Making
Business Essentials (July 2013) Business Decision Making. BPP Learning Media
Harvard Business Review (Harvard Business Publishing)
Bized provides a selection of teaching and learning resources www.bized.co.uk
The Financial Times business sections www.ft.com
Multimedia resources www.thetimes100.co.uk
How to write a formal business report http://unilearning.uow.edu.au/report/4b.html
All lecture notes can be found on LSST Connect.