Important

Determine the effectiveness of 4 quantitative and qualitative appraisal techniques and their application in your business operation. (3.4)

Internal evaluations allow organizations to increase effectiveness and profits. Evaluation methods and the data they produced are grouped into two different categories namely quantitative and qualitative. Quantitative techniques produce statistical data while qualitative techniques capture more descriptive data. In order to evaluate the performance of our business we have decided to use both quantitative and qualitative appraisal techniques so as to have better and more comprehensive understanding of the performance of our business.

Quantitative appraisal techniques:

1. Surveys:

Quantitative data are pieces of information that can be counted exactly. They are usually collected by surveys from large numbers of customers selected at random. There are many reasons why we have chosen to do a survey. Firstly it is high representative. Surveys provide a high level of general capability in representing a large population. Hence we have conducted some interviews and some of our customers have filled up our questionnaire. As a result we will be able to analyse the quality of our product and also if the is the need to improve the quality of our dumplings. Due to the usual huge number of people who answers survey, the data being gathered possess a better description of the relative characteristics of the general population involved in the study. As compared to other methods of data gathering, surveys are able to extract data that are near to the exact attributes of the larger population.

2. Low Costs

When conducting surveys, you only need to pay for the production of survey questionnaires. It cost us only Rs100 for our survey questionnaires. Hence the cost can be considered as low and this will not affect our profits adversely. On the other hand, other data gathering methods such as focus groups and personal interviews require...