UNIT 6 -BUSINESS DECISION MAKING
| Learning
Outcome |
Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task Number
|
Evidence Page number | ||
| 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 | |||
| 1.2 | Present the survey methodology and sampling frame used | 1 | ||||
| 1.3 | Design a questionnaire for a given business problem | 1 | ||||
| LO 2: Understand a range of techniques to analyse data effectively for business purposes | 2.1 | Create information for decision making by summarising data using representative values | 1 | |||
| 2.2 | Analyse the results to draw valid conclusions in a business context | 1 | ||||
| 2.3 | Analyse data using measures of dispersion to inform a given business scenario | 1 | ||||
| 2.4 | Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context | 1 | ||||
| LO 3: Be able to produce information in appropriate formats for decision making in an organisational context | 3.1 | Produce graphs using Spreadsheets and draw valid conclusions based on the information derived | 2 | |||
| 3.2 | Create trend lines in spreadsheet graphs to assist in forecasting for specified business information | 2 | ||||
| 3.3 | Prepare a business presentation using suitable software and techniques to disseminate information effectively | 2 | ||||
| 3.4 | Produce a formal business report | 2 | ||||
| LO4: Be able to use software-generated information to make decisions in an organisation | 4.1 | Use appropriate information processing tools | 3 | |||
| 4.2 | Prepare a project plan for an activity and determine the critical path | 3 | ||||
| 4.3 | Use financial tools for decision making. | 3 | ||||
| Please see that you include the Turnitin report. This work will not be accepted without the
Turn it in report. |
Report attached: Yes
No |
If no Reason: | % of the turn it in report. | |||
| Learners Declaration: I certify that the work submitted for this unit is my own and the research sources are fully acknowledged.
Learners Signature: Date: Plagiarism: Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies’ regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone’s work as your won. 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 form 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 college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) |
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| Due Dates | |||
| Issue Date | 02/10/2017 | Submission Due Date | 15/12/2017 |
| Formative feedback for LO1. Week commencing | Final due date where turnitin will be blocked | 16/03/2018 | |
| Formative feedback for LO2 week commencing | |||
| Formative feedback for LO3 week commencing | |||
| Formative feedback for LO4 week commencing | |||
Assignment Guidelines:
Ø Use a standard report structure, Word-process the report and use Normal script of a proper font size 12.
Ø Produce an academic report, detailing the above issues with an approx. word limit of 3000 to 3500 words.
Ø Complete the title page and sign the statement of authenticity.
Ø The Assignment front sheet should be attached in the front.
Ø It should be uploaded on Turnitin platform before the deadline
Ø Assignments submitted after the deadline will not be accepted unless mitigating and may be entitled for a late fee.
Ø Collusion and Plagiarism must be avoided.
Ø Start each answer on a new page and pages should be numbered. Highlight each question clearly.
Ø Include a Bibliography at the end of the assignment and use the Harvard referencing system.
Ø All work should be comprehensively referenced and all sources must be fully acknowledged, such as books and journals, websites (include the date of visit), etc.
Ø Try to give the page numbers, publishers’ details and the year of publication
Ø In order to pass you need to address all the LO
Ø In order to get a merit you need to address the characteristics of pass and address M1, M2,M3
Ø In order to get a Distinction you need to address the characteristics of pass, merit and address D1, D2 and D3. Use a common format for the questions, for example:
Ø Introduction (analyse the question.)
Ø Underpinning Knowledge (write about the relevant theory/points)
Ø Applied knowledge(Data Analysis)
Ø Conclusions and Recommendations (summarizing the whole scenario keeping in view pass, merit, distinction criteria.)
Guidance in addition to the Pass criteria’s, this assignment gives you the opportunity to submit evidence in order to achieve the following Merit and Distinction grades. Assessment Grid indicating their pass, merit and distinction:
Unit 6: Business Decision Making
| Outcomes/criteria: | Indicative characteristics | Contextualised Feedback |
| LO1. Be able to use a variety of sources for the collection of data, both primary and secondary
LO2. Understand a range of techniques to analyse data effectively for business purposes LO3. Be able to produce information in appropriate formats for decision making in an organisational context LO4. Be able to use software-generated information to make decisions in an organisation |
As per the assessment criteria specified for pass
Do
Do
Do |
Task 1
Task 1
Task 2
Task 3 |
| Merit grade Description: | Contextualisation | |
| M1. Identify and apply strategies to find appropriate solutions. | . Complex problems with more than one variable have been explored
. An effective approach to study and research has been used. |
To achieve M1 you will exhibit that you have identified and applied strategies to find appropriate solutions to the complex problems (1.2,1.3, 2.3)and show that an effective approach to the study and research has been used across your assignment. |
| M2. Select/ design and apply appropriate methods/ techniques. | A range of methods and techniques have been applied.
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To achieve M2 you will use a range of methods and techniques (Task 2) and see that the complex data has been synthesized and processed. (3.1, 3.2, 3.3) |
| Complex information/data have been synthesized and processed. | ||
| M3. Present and communicate appropriate findings. | . Appropriate structure has been used.
. Technical language accurately used. . A range of methods of presentation has been used. |
To achieve M3 you will present and communicate appropriate findings with appropriate structure (3.1, 3.2, 3.3, 4.2). You have addressed the PowerPoint presentation with report for task 2. |
| Distinction Grade Description: | ||
| D1. Use critical reflection to evaluate own work and justify valid conclusion. | . Synthesis has been used to generate and justify valid conclusions
. Evaluation has taken place using defined criteria Realistic improvements have been proposed against defined characteristics |
Evidence of synthesis with valid conclusions (2.2, 2.4). Evaluation has taken place using the defined criteria (1.2, 1.3, and 2.4)
Realistic improvements have been proposed against defined characteristic (2.1, 2.4)
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| D2. Take responsibility for managing and organizing activities. | The importance of interdependence has been recognized. | To achieve D2 you will have demonstrated autonomy across your assignment, with effective independent research and met the deadlines to submit all the tasks and achieve the unit assessment criteria and an interdependence with each learning outcome has been demonstrated |
| D3. Demonstrate convergent, lateral and creative thinking | Ideas generate and decisions taken. Lateral thinking have been applied. Capacity for innovation and creative thought has been used.
Receptiveness to new ideas has demonstrated. |
Your work demonstrates new ideas or suggestions towards the assigned tasks and your research shows some creative thinking and receptiveness to new ideas across the assignment making it look different and creative.
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Assignment Brief
| Unit number and title | Unit 6: Business Decision Making | |
| Qualification | Pearson BTEC Level 5 HND Diploma in Business | |
| Start date | 11/09/2017 | |
| Deadline/hand-in | 15/12/2017 | |
| Assessor | ||
| Assignment title | REPORT | |
| Purpose of this assignment
For this assignment you need to produce a report. You are required to use variety of sources for the collection of data, have range of techniques to analyse the data, produce information in appropriate formats for decision making and use appropriate software-generated information. |
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| Scenario
It is commonly said, that in business, success comes to the people who get the big decisions right. Making good decisions, however, isn’t easy. To make better business decisions, you must talk to the people who are affected by a decision and take into account their views, but before then, you must first develop the skills to ask the right questions and gather and analyse enough relevant information to be confident about the decision. A good decision must also consider an appraisal of the investment to provide a benefit in future. The present value of anticipated return, the expected rate of return from the investment, and the effects on the pace of growth of a business are some of the financial considerations to be analysed. Investment decisions are extremely important because they are concerned with the future survival, prosperity, and growth of the business. London is one of the most exciting and dynamic cities in the world. It is a city combined with commerce and culture, and a business friendly city. These are just few evidences of great opportunities businesses can enjoy in London. A restaurant chain planned to open its second restaurant in London. To ensure this is a viable move, the shareholders are keen to understand the market. Therefore you are asked to carry out a planned data collection and data analysis to help the board of directors in understanding the customer preferences including price, taste, and location preferences. Learners should choose from the restaurants listed below, and use the principles and techniques of business decision making to carry out the planned data collection and data analysis in order to help the board of directors in understanding the customer preferences, and to help them in taking profitable decision. 1) Blackfriars Restaurant 2) Food for Friends 3) Murano 4) Balti Palace
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| Task 1(LO 1: 1.1, 1.2, 1.3 and LO 2:2.1, 2.2, 2.3)
LO 1: Be able to use a variety of sources for the collection of data, both primary and secondary Report on Data Collection and Analysis, In this report; – Create a plan for the collection of primary and secondary data for a given business problem (AC 1.1) – Present the survey methodology & sampling frame used (AC 1.2) – Design a questionnaire to collect data and provide a justification for its design. Questionnaire should have between 10 – 12 questions and must contain: Yes or No questions, multiple choice, rating and ranking, and an open-ended question (AC 1.3) LO 2: Understand a range of techniques to analyse data effectively for business purposes – Create information for decision making by collecting data and summarise the collected data using representative values, and analyse the results to draw valid conclusions in a business context. (AC2.1) – You will need to carry out suitable calculations (mean, median, mode) and analyse useful and realistic conclusions and provide valid recommendations (AC 2.2). – Analyse the collected data using measures of dispersion (2.3). You must be able to use the analysis to inform and support decision making. Your calculations must include standard deviation (for AC 2.3), quartile, percentiles and the correlation coefficient, and explain how these calculations helped you to draw useful conclusions (AC 2.4) |
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| Task 2 (LO 3: 3.1, 3.2, 3.3, 3.4)
LO 3: Be able to produce information in appropriate formats for decision making in an organisational context – Prepare a Business Presentation using a suitable software(AC 3.3) and a formal Business Report (AC 3.4) to disseminate information effectively which include; – Produce graphs using Spreadsheets and draw valid conclusions based on the information derived. You must use spreadsheet software for all calculations and incorporate graphs and charts to clearly and effectively present the findings. (AC 3.1)
– Create trend lines in graphs to assist in forecasting for specified business information (AC 3.2). For example, this may include people’s eating behaviours overtime and preferences against seasonal changes. |
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| Task 3 (LO 4: 4.1, 4.2, 4.3)
LO4: Be able to use software-generated information to make decisions in an organisation The restaurant owners are considering whether to invest £190,000 on a second restaurant in London in order to obtain profits as follows. Year £ 1 50,000 2 64,000 3 58,000 4 70,000 The company requires a return of 12% per annum – Use appropriate information processing tools to prepare a project plan and identify some of the main activities involved in getting the restaurant ready for business, and determine the critical path. Activities may include: searching for the right location; restaurant lay out decision (AC 4.1, 4.2).
– Use financial tools for decision making (AC 4.3). The financial tool for decision making must include the calculation of discounted cash flow of NPV and IRR to evaluate the financial viability of the proposed recommendations.
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| Unit 6 | BDM |
| GRADE |
Achievement Summary
The Following Sections to be completed by the assessor:
| Centre Name: | Regent HE |
| Campus: | |
| Centre Number: |
Please note that the assessor’s signature below denotes conformation that he/she has in no way influenced the outcome of the assessment:
| UNIT 6 | BUSINESS DECISION MAKING | ||||
| UNIT LEADER | |||||
| Assessors Name: | |||||
| Assessors Signature: | |||||
| Learners Name (to be filled by the Assessor) | |||||
| Intake: Apr 2016 | Cohort: Apr 2016 | Term: 5 | Campus: Wembley | ||
| Learners Edexcel Reference Number | |||||
| Has the unit been Internally Verified? Y/N
Date of verification: |
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| Name of the Internal Verifier: | |||||
| Internal verifiers signature: | |||||
| If Sampled ,Internal verifiers comments on the assignment brief:
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| Evidence Checklist | Summary of the evidence required by the student | Evidence presented | |||
| Task 1 | |||||
| Task 1 | |||||
| Task 2 | |||||
| Task 3 | |||||
Unit Outcomes
| Outcome | Evidence for the criteria to pass, merit and distinction as specified in the student feedback and contextualised. | Assessors decision | Internal verification decision. (agree, disagree) | |||||||||||||||||
| TASK 1
You are required to choose a restaurant among the given options in the scenario and carry out a planned data collection and data analysis to help the board of directors in understanding the customer preferences before opening second restaurant in London. You should use supportive materials like books, websites, etc., and give a report of the findings on AC 1.1, 1.2, 1.3. The answers need to be reflected to the restaurant and survey questions chosen for this task.
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| LO 1. Be able to use a variety of sources for the collection of data, both primary and secondary
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AC 1.1 create a plan for the collection of primary and secondary data for a given business problem | P1.1 (P,M,D) | P1.1
(P,M,D) |
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| AC 1.2 present the survey methodology and sampling frame used | P1.2
(P,M,D) |
P1.2
(P,M,D) |
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| AC 1.3 design a questionnaire for a given business problem | P1.3
(P,M,D) |
P1.3
(P,M,D) |
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| Contextualised Feedback for Task 1(reflecting 1.1, 1.2, 1.3, Pass merit and distinction.) | ||||||||||||||||||||
| IV comments towards
Task 1
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| TASK 1
You are required to choose a restaurant among the given options in the scenario and carry out a planned data collection and data analysis to help the board of directors in understanding the customer preferences before opening second restaurant in London. You should use supportive materials like books, websites, etc., and give a report of the findings on AC 2.1, 2.2, 2.3, 2.4. The answers need to be reflected to the restaurant and survey questions chosen for this task.
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| LO 2. Understand a range of techniques to analyse data effectively for business purposes | AC 2.1 create information for decision making by summarising data using representative values | P2.1
(P,M,D) |
P2.1
(P,M,D) |
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| AC 2.2 analyse the results to draw valid conclusions in a business context | P2.2
(P,M,D) |
P2.2
(P,M,D) |
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| AC 2.3 analyse data using measures of dispersion to inform a given business scenario | P2.3
(P,M,D) |
P2.3
(P,M,D) |
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| AC 2.4 explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context | P2.4
(P,M,D) |
P2.4
(P,M,D) |
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| Contextualised Feedback for Task 2(reflecting 2.1, 2.2, 2.3, 2.4, Pass merit and distinction.) | ||||||||||||||||||||
| IV comments towards
Task 2 |
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| TASK 2
You are required to prepare a Business Presentation and a formal Business Report to disseminate information effectively to relevant users of the information. These should cover AC 3.1, 3.2, 3.3, andthe answers need to be reflected to the restaurant chosen for this task. |
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| LO 3. Be able to produce information in appropriate formats for decision making in an organisational context | AC 3.1 produce graphs using spreadsheets and draw valid conclusions based on the information derived | P3.1
(P,M,D) |
P3.1
(P,M,D) |
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| AC 3.2 create trend lines in spreadsheet graphs to assist in forecasting for specified business information | P3.2
(P,M,D) |
P3.2
(P,M,D) |
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| A 3.3 prepare a business presentation using suitable software and techniques to disseminate information effectively | P3.3
(P,M,D) |
P3.3
(P,M,D) |
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| AC 3.4 produce a formal business report | P3.4
(P,M,D) |
P3.4
(P,M,D) |
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| Contextualised Feedback for Task 3(reflecting 3.1, 3.2, 3.3, 3.4, Pass merit and distinction.) | ||||||||||||||||||||
| IV comments towards
Task 3 |
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| TASK 3
Using the information as specified in your assignment brief, You are required to use appropriate information processing tools to prepare a project plan identifying some of the main activities involved in getting the restaurant ready for business, and then determine the critical path. You will also need to use financial tools for decision making to achieve this LO 4 – AC 4.1, 4.2, 4.3. The financial tool for decision making must include the calculation of discounted cash flow of NPV and IRR to evaluate the financial viability of your proposed recommendations. The answers need to be reflected to the given assignment brief scenario.
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| LO 4. Be able to use software-generated information to make decisions in an organisation | 4.1 use appropriate information processing tools | P4.1
(P,M,D) |
P4.1
(P,M,D) |
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| AC 4.2 prepare a project plan for an activity and determine the critical path | P4.2
(P,M,D) |
P4.2
(P,M,D) |
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| AC 4.3 use financial tools for decision making. | P4.3
(P,M,D) |
P4.3
(P,M,D) |
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| Contextualised Feedback for Task 4(reflecting 4.1, 4.2, 4.3, Pass merit and distinction.) | ||||||||||||||||||||
| IV comments towards
Task 4 |
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| Merit grades awarded | M1 | M2 | M3 | P1 | P2 | P3 | P4 | |||||||||||||
| Distinction grades awarded | D1 | D2 | D3 | Resubmit : | ||||||||||||||||
| Any other comments
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| Grade given by the Assessor:
Pass Merit Distinction Assessors Signature: Date: |
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| IV Grading Check: Comments if any:
Agree Disagree Modify grade to IV signature: Date: |
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| Students feedback:
Student Signature: Date: |
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| Plagiarism:
Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies’ regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone’s work as your won. 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 form 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 college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) |
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