BDM_7 pages

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London School of Business & Management BTEC Levels 4 & 5 HND Business

Unit Outcomes Covered: 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

GRADING OPPORTUNITIES AVAILABLE Outcomes/ Grade Descriptors

AC1.1 AC1.2 AC1.3 AC2.1 AC2.2 AC2.3 AC2.4 AC3.1 AC3.2 AC3.3 AC3.4

√ √ √ √ √ √ √ √ √ √ √ Outcomes/ Grade Descriptors

AC4.1 AC4.2 AC4.3 M1 M2 M3 D1 D2 D3

√ √ √ √ √ √ √ √ √ Assessor: Signature: ______________ Date: ___/___/___

Centre No 79829

Course Title HND Business

Unit No & Unit Title Business Decision Making

Assessor’s Name Kuldeep Pradhan

Assignment Title BDM Individual Assignment

Date Set 28th September 2016

Due Date 9th January 2017

Academic Year / Semester September 2016 Semester

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Tutor Notes Key Points:

v You should answer ALL questions in this assignment. v Your assignment should be handed in by the deadline. v The assignment must be your own work and original in all answers to the tasks. v You are expected to apply Harvard referencing system to acknowledge any

secondary sources of information used to support your work in the assignment.

v You will be expected to check spelling mistakes and grammar before submitting your work.

v The London School of Business and Management Cover sheet should be used in every submitted work.

v An appropriate report structure should be used with headings that include: Table of Contents, Introduction, Discussion/Evaluation, Conclusions, References and Appendices (if necessary).

v There should be clarity of expression in your work. v Your work should demonstrate, for example, relevant factual content and understanding

of the subject, critical analysis, evaluation, justifications, key arguments, correct use of appropriate models/framework etc.

Submission Regulations 1. “Assignment Front Cover Sheet” must accompany every submitted work [Cover sheet is

available from our Virtual Learning Environment - Moodle]. 2. Assignments must be submitted on or before the due date, via Turnitin. Please refer to Moodle for detailed assignment submission instructions.

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Task 1: LO1: Be able to use a variety of sources for the collection of data, both primary and secondary Scenario: You work as a research consultant and have been approached by a client. The client wishes to launch a new brand of coffee sachet in London. However, before a budget is made available for business setup, the investors wish to conduct research to understand the market dynamics. The product available under the new brand will be based on unique taste (based on imports from African continent with fair-trade) and will target both men and women living in London area. Requirement: In a report to the Board of Directors provide the following: • A plan for the collection of primary and secondary data (covers AC1.1) • Survey methodology and sampling frame to be used. (covers AC1.2) • A sample questionnaire to be used for the purpose of research. (covers

AC1.3) Guidelines: In your answer you should include a discussion on what primary and secondary data is required and how it should be collected. The report should also include a discussion on the suggested survey methodology and the intended sampling frame for best representativeness. You should also include a sample questionnaire (no more than 12 questions) that can be used to conduct primary research. M1 can be achieved if the report reflects an effective; sequenced, planned, organised and structured approach used for research This task covers assessment criteria 1.1, 1.2 and 1.3

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Task 2: LO2: Understand a range of techniques to analyse data effectively for business purposes Scenario: Stephanie; the owner of a small store based in London has realised the importance of analysing the sales for the purpose of decision making. She has collected the following data over the last month and has requested you to help her with further analysis (use of various statistical techniques). The following table presents the sales for varying price ranges:

Amount Spent (£)

No. of Orders

0.5 -10 7 10-20 9 20-30 12 30-40 14 40-50 16 50-60 17 60-70 16 70-80 15 80-90 8

90-100 6 Requirement: • You are required to calculate the following (covers AC 2.1):

1. Mean 2. Median 3. Mode

Provide an analysis of your calculations and advise Stephanie on the most popular price of sales for the time-period along with relevant comments on the measures used for analysis. (covers AC 2.2) • Calculate the following (using the above table) (covers AC 2.3):

1. Range 2. Standard Deviation 3. Lower quartile (25th percentile) 4. Upper quartile (75th percentile) 5. Inter-quartile range

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Stephanie has also provided you with the following data:

Sales VS Temperature 20o £320 24o £411 11o £192 17o £259 9o £170

15o £243 25o £430

6. Calculate the correlation coefficient and comment on your result. And

explain how quantiles and correlation coefficient help draw useful conclusions for her business. (covers AC 2.4)

M2 can be achieved if the theories and statistical techniques are applied correctly and accurately D1 can be achieved if the conclusions are justified and have been reached through valid and proper analysis This task covers assessment criteria 2.1, 2.2, 2.3 and 2.4

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Task 3: LO3: Be able to produce information in appropriate formats for decision making in an organisational context Scenario: You work as a management consultant for Graham Consultants Limited. The company has provided you with the following information:

Year Sales (£’000) – All

Regions All Costs - (Direct and Indirect)(£’000)

Final Profit(£’000)

2000 165 135 45 2001 185 125 65 2002 225 145 85 2003 235 145 95 2004 315 175 145 2005 335 175 165 2006 265 165 105 2007 245 145 105 2008 245 175 75 2009 255 155 105 2010 295 155 145

Requirement: You are required to produce: • Line and Bar graphs using spreadsheets and draw valid conclusions from

the graphs (covers AC 3.1) • Trend lines using spreadsheets for sales, costs and profit showing

forecast of 3 years for each. (covers AC 3.2 and AC 4.1) Guidance: Your graphs (avoiding grey-scale) needs to be presented on your word document along with relevant details and commentary. Requirement: Produce: • A presentation on the sales, costs and profit (including the trend lines) with

recommendations for the CEO. (covers AC 3.3) • A formal business report for the Regional Managers that includes a brief

explanation on the relationships between sales, costs and profit across the time period and benefits of forecasting. (covers AC 3.4)

M3 can be achieved if the report and presentation reflect the use of correct terminology and a range of presentational techniques used. D2 can be achieved if the report shows evidence of a structured approach towards research and preparation of the report This task covers assessment criteria 3.1, 3.2. 3.3, 3.4 and 4.1

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Task 4: LO4: Be able to use software generated information to make decisions in an organisation Scenario: You work as a project manager for QWM Investments Limited. The senior manager has provided you with the following information (related to a new project):

Description Activity Preceding Activity (Days) Preparation A - 6 Business Planning B A 4 Recruitment and Selection C A 38 Installation of peripherals D B 17 Initial Training E D 6 Design F E 11 Conversion G F 11 Development of Norms H C 4 Assessment I B 12 Continuous Testing J D 11 Policy documentation K G, H, I, J 22 Appraisal L K 22

Requirement (covers AC 4.2): • Calculate the project duration. • Identify the critical path.

Guidance: You need to use suitable software to present the network diagram, clearly illustrating the activities that are critical for the project to be completed in time along with accurate duration and relevant commentary about critical path. This task covers assessment criteria 4.2

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Task 5: LO4: Be able to use software generated information to make decisions in an organisation Scenario: The Board members of a local construction company are planning to invest in a new project. The company has the option to select from two projects: Project Alistair and Project Bromley. You have been approached by the Board members to help them with the appraisal of both projects to provide them with recommendations. The following data is provided, with the assumption of 10% as the discount rate:

Year Project Alistair Cash flow (£)

Project Bromley Cash flow (£)

Investment -300,000 -300,000 1 55,000 220,000 2 100,000 50,000 3 110,000 50,000 4 95,000 20,000 5 40,000 20,000

Requirement: • Calculate the Payback, NPV and IRR for Project Alistair & Project Bromley. • Write a brief report for the Board members with your recommendations on the

choice of the project, along with relevant commentary on the tools used. D3 can be achieved if the report produced reflects innovation; complete analysis and creative thought in deriving the recommendations This task covers assessment criteria 4.3

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Grading Criteria (Pass, Merit, Distinction) Criteria for PASS Possible evidence

LO1 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

LO2 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 2.2 analyse the results to draw valid 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

LO3 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 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

LO4 Be able to use software generated information to make decisions 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

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Grade Descriptors for MERIT Possible Evidence

M1 Identify and apply strategies to find appropriate solutions

M1 An effective approach to research has been applied

M2 Select / design appropriate methods / Techniques

M2 Relevant theories and techniques have been applied.

M3 Present and communicate appropriate findings

M3 A range of methods of presentation and correct terminology have been used.

Grade Descriptors for DISTINCTION

Possible Evidence

D1 Use critical reflection to evaluate own work and justify valid conclusions

D1 Conclusions have been reached through combination of analysis and have been justified.

D2 Take responsibility for managing and organising activities

D2 Show evidence of a structured research process for the report and The Harvard referencing system has been used competently to build and present accurate data for Source material. (throughout the assignment)

D3 Demonstrate convergent/lateral/ creative thinking

D3 Innovation and creative thought have been applied in the report.

BDM Module specification.docx

BTEC Module Specs 2014-15

Business Decision Making

MODULE SPECIFICATION

(Implemented in line with the Qualifications and Credit Framework (QCF) and the Framework for Higher Education Qualifications (FHEQ) in England, Wales and Northern Ireland)

Aims of the Unit

The aim of this unit is to give learners 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 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.

On successful completion of this unit a learner will:

Learning Outcomes and Assessment Criteria

Teaching, Learning and Assessment Plan

Formative and Summative Assessment – Rationale

Links

Essential Reading

Electronic Sources

1. Times 100: http://businesscasestudies.co.uk

2. The Harvard Business Review

Employer engagement and vocational contexts