Business Decision Making

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Unit 6: Business Decision Making |

Assignment Cover Sheet |

Assignment No: 1 | And 2 |

I hereby confirm that this assignment is my own work. I have identified and acknowledged all sources used in this assignment and have referenced according to the Harvard referencing system. I have read and understood the Plagiarism and Collusion section provided with the assignment brief and understood the consequences of plagiarising. |

Name: | .......Hatidzhe Turan..... |

Registration No: | ……EM86517.................... |

Signature: | ........H.T................................. |

Date: | .......15/12/2014.................... |

Task 1 |

Introduction

Good decision-making in business necessitates the use of good and effective methods of collecting data. Business decision-making allows an individual to collect and analyze data that will help them in making informed business plans such as whether to invest in a particular business and the most viable place to locate a business.

Eat well runs a chain of restaurants and wishes to open its second restaurant in London. Eat well requires to perform a data collection and analysis process that will be able to help them determine market review of the proposed project. The restaurant will require establishing factors such as the industry trends in the restaurants business, location and facility of the business, the characteristics of the region for establishing a business, analyzing the competition, getting to know the customer requirements and also determine the projected sales for the new restaurant (Ryan and Chrisler).

Problem Statement

Is opening a new restaurant in London feasible?

Hypothesis

A new restaurant in London downtown area will offer services to at least 60% of the people surveyed. The new restaurant will also sustain its operating costs and also make profits.

1.1 Plan for data collection

The feasibility of starting a new restaurant in London will be determined by pro forma income...