Business Making Decision Assignment 1 BTEC Nguyen Huu Phong 2017

Business Making Decision Assignment 1 BTEC Nguyen Huu Phong 2017 tại University of Greenwich Viet Nam, đây là một trong những môn rất quan trọng và cần thiết cho những người muốn theo nghành businness cụ thể là human resource management như mình. Bài assignment này được mình làm tại trường. Các bạn có thể xem và tham khảo nhưng lư

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ASSIGN MEN T FRON T SHEET N o.1 Retake

Unit number and title Unit6: Business Decision Making

Learner declaration:

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged

Grading grid

Assignment title

In this assignment, you will have opportunities to provide evidence against the following criteria

Indicate the page numbers where the evidence can be found

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

Part of report where student individually create the plan to

Achieved

N ot achieved

1.2 Present the survey

methodology and sampling

frame used

Part of report where student individually:

- Choose □a suitable survey methodology for the research:

postal questionnaires or interviews with □explanations of decisions made

- Base on that method, choose □a suitable type of sampling method with □explanations of decisions made

2 Achieved

N ot achieved

3

1.3 Design a questionnaire

for the problem

Part of report where student individually □design a questionnaire which □related directly to the survey’s

LO2 Understand a range of techniques to analyze data effectively for business purposes

2.1 Create information for

decision making by

summarizing data using

representative values

Part of report where student individually calculate

frequency, mean, mode, median based on data collected 4

Achieved

N ot achieved

2.2 Analyse the results to

draw valid conclusions in a

business context

Part of report where student individually draw suitable graphs based on representative values above Besides, students also analyse to decide whether the business can make necessary improvements

Part of report where student individually calculate measures

of dispersion to have information about the spread of customer satisfaction Also, student have a conclusion in a given business scenario

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Achieved

N ot achieved

(note on Merit/Distinction if

applicable)

questionnaire which related directly to the survey’s objective Achieved N ot achieved

Merit descriptor No (M2) Good analysis of the results to draw valid conclusions in a

business context

Achieved

N ot achieved

Distinction descriptor No

Distinction descriptor No

Summative feedback

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<ATTACHED EVIDENCE>

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Contents

Part 1: Collecting of data 8

1.1 Primary data and secondary data 8

1.2 Survey methodology and sampling methods 9 1.3 Questionnaire design 10

Part 2 The analysis of data 13

Conclusion 21

References 22

Introduction

Data and survey results are extremely important factors to a company because decisions based on that, and they also taken the right steps However, to have an appropriate and effective decisions based on the data collected, the company in general and leaders in particular must have a certain understanding and know how to filter and sort the data in the best way

In this report article, I will split into two main parts In the first part, I will focus on explaining the terminology in collecting and processing the data obtained, the relevant factors as well as methods to help collect survey data In the second part, I will analyze on an actual survey and from raw data, I will take out the remarks and decisions

Part 1: Collecting of data

1.1 Primary data and secondary data

According to Business Dictionary confirm that: "Data is the information in raw or unorganized form (such

as alphabets, numbers, or symbols) that refer to, or represent, conditions, ideas, or objects Data is limitless and present everywhere in the universe" Data can be obtained through a variety of ways and are distinguished by different sources in each different case

Data has two main types that are Primary Data and Secondary Data

for a specific purpose

Data collected by someone else for some other purpose

Observation Action research Case studies

Internet research Official statistics Mass media products Government reports Web information Advantages and Disadvantages Advantages: The investigator

collects data specific to the problem under study There is no doubt about the quality of the data collected (for the investigator) If required, it may

be possible to obtain additional data during the study period

Disadvantages: The investigator has to contend with all the hassles

of data collection Ensuring the data collected is of a high standard Cost of obtaining the

Advantages: The data’s already there and no hassles of data collection It is less expensive The investigator is not personally responsible for the quality of data

Disadvantages: The investigator cannot decide what is collected One can only hope that the data is

of good quality

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data is often the major expense in studies

1.2 Survey methodology and sampling methods

Population is a group of many individuals and many different factors The data collected in a population

as large as the population is often difficult Because there are too many elements in the population, the collection of all data from that is not possible, the statistics will only collect from a section of the population, a major component with which to survey and collect data

To get samples from the population, different sampling methods can be used; depending on each case, they would be random, quasi-random or non-random

Random sampling is the purest form of probability sampling Each member of the population has an equal and known chance of being selected When there are very large populations, it is often difficult or impossible to identify every member of the population, so the pool of available subjects becomes biased About Quasi-random sampling, under certain conditions, largely governed by the method of compiling the sampling frame or list, a systematic sample of every nth entry from a list will be equivalent for most practical purposes to a random sample This method of sampling is sometimes referred to as quasi-random sampling

For example, to obtain a sample of 8 elements from a population of 64 elements

using systematic sampling method, we must:

-Determine the population size: N = 64

-Determine the sample size required: n = 8

-Divide population of N individuals into groups of k individuals:

k = N/n = 64/8 = 8 where k is the sampling interval

-Randomly select a starting point: 2nd

-Select every k-th individuals; those are elements of this sample: 2nd – 10th – 18th – 26rd – 34th – 42th – 50th – 58th)

Non-random sampling, is any other kind of sampling Such methods are often used for speed and convenience, and also they do not require a sampling frame Their big disadvantage is that sampling error cannot reliably be quantified, as the sampling properties of any estimators used are not known

To collect data, researchers can use questionnaires or interviews Each method has its own advantages and disadvantages; they can consequently be used in different cases with different targets for different purposes

Questionaire is a set of questions for obtaining statistically useful or personal information from individuals Questionaire can directly or indirectly or through the survey page This is a method of data collection less expensive and does not require much time Even so, this method sometimes not bring high efficiency and can cause difficulties when questions are not clear and the respondents did not understand the question

Beside that we also have another way is interview According to the business communication stated that:

"Interview is the word comes from Latin and middle French words meaning to “see between” or “see each other” Generally, interview means a private meeting between people when questions are asked and answered The person who answers the questions of an interview is called in interviewer The person who asks the questions of our interview is called an interviewer It suggests a meeting between two persons for the purpose of getting a view of each other or for knowing each other."

1.3 Questionnaire design

13 questions

Objective: Customer habit/ Customer satisfaction

Variable: General Information, Shopping for Technology, Purchasing Apple Technology

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Let us know more about you before we come to Viet Nam

Designed by Apple in California

We are planning to be present in Vietnam Please take a moment to answer a few of our questions This will be an important information to help us serve and support you better in Vietnam

General Information

1 Age

17 or Younger 18-30

31-45

45 or older

2 Gender

Male Female

3 Occupation

Student Employed

4 What is your yearly income?

$0-10000 $11000-50000 $50000 or more _

Shopping for Technology

1 When shopping for new technology products, which brands do you prefer?

Apple Samsung

LG Huawei Other

2 How willing are you to pay more for higher branded products?

Very unlikely Unlikely Neither likely/unlikely Likely

Very likely

3 When buying new technology products, how important are the following attributes?

Very Significant Significant Insignificant Very Insignificant Quality

Packaging

Price

Popularity

Availability

_

Purchasing Apple Technology

1 Do you own any products from Apple?

Yes

No

2 Which of the following do you own?

iPhone iPad iMac iPod Macbook Apple Watch

3 How many Apple products do you own? (If more than two, please select all selection above)

1

2

3

4 5+

4 Roughly with each purchase from Apple, how much are you likely to spend per item?

$300-500 $500-1000 $1000-2500 $2500 or more

5 Do you udate your Apple products to the new Innovation models?

Yes

No

6 In your opinion do you believe that Apple Inc’s products provide you with value for money?

Yes

No _

About you

Name: ………

Email: ………

Phone: ………

Additional comments:………

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Thank you for your participation!

Part 2 The analysis of data

Apple is a technology company from the U.S., Apple is currently the largest smartphone manufacturers in the world with more than 1.5 billion smartphones has been sold from 2007 to 2016 Apple currently has a presence in many countries of the world with global support in the Apple Store for all customers who use Apple products However, up to the present time, Apple has yet set a foot in Vietnam and they are planning to do it The proof is that they have registered the company in Vietnam

To prepare in the Vietnam market, Apple may launch a survey questionnaire to survey a group like on users in the Vietnam market to be able to make the right decision

Based on the data obtained here, we analyze the raw data it and put out a few decisions and appropriate comments based on that data This survey is based on a small group of 100 clients across segments, age, Because the survey has three main parts: General Information, Technology and Purchasing Shopping for Apple technology We will analyze each part through a few key questions in that section

Firstly, General Information

17 or Younger 16%

18-30 28%

31-45 29%

45 or older 27%

Age

17 or Younger 18-30 31-45

45 or older

Q4: What is your yearly income?

Employed 63%

Occupation

Student Employed

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This question focuses on the income of each person in Vietnam at the present time The chart shows us clearly, so is a developing country and there are disparities, with 70% of the income between $0-10000/year, 19% with incomes from $11000-50000 and only 11% of income over $50000 enough to see this Apple needs to adjust the price in Vietnam to better fit with relatively low income in Vietnam Adjusting the price reasonable products will help Apple reach Vietnam market better and more successful than the current product price is distributed through intermediary channels

Secondly, Shopping for technology

Q1: When shopping for new technology products, which brands do you prefer?

Q2: How willing are you to pay more for higher branded products?

Q3: When buying new technology products, how important are the following attributes?

Very likely

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Through the graph, we easily found that Vietnamese consumers interested very much in the quality and price With 88% of the concerned product quality and 75% interest in the price The other elements spread depending on each person's preferences, however the price and quality are 2 mandatory elements Vietnamese people like high quality products, besides that they also like high-priced products because it expresses the high quality product, this form of thought of each consumer in Vietnam So the question, Apple realized what from this data? Quality first, Apple products are evaluated in terms of the quality of the inside and outside better than others product in market, this is in line with the ideas of customers in Vietnam But besides that, its also influence the decision to purchase Apple products, from its inception, the default always in the high-end segment with relatively high price with each person's income At present, through the intermediary channel of the distribution, Apple products have much higher than published price but Vietnamese clients still ready to pay money for Apple products If Apple

on Vietnam, the suggestion is adjust the lower price or no more difference of the price announced, Apple will be very competitive in Vietnam

When buying new technology products, how important are the following attributes?

Very Significant Significant Insignificant Very Insignificant

Thirdly, Purchasing Apple Technology

Q2: Which of the following do you own?

The iPhone and the Macbook occupy large amounts in purchasing Apple products, it showed these are two the most popular products of Apple because it helps complete the work quickly There's nothing hard to understand why the iPhone is being rated as the best Smartphone in the world and the Macbook is also similar in the Laptop market About the iPad and Apple Watch, stability and has plunged in recent years shows gradual iPad not needed, can only fit in the entertainment and education of children Apple Watch actually success since it debuted in the world and Vietnam, Apple Watch ownership rate equal to the ownership of the iPad These data were collected, Apple needs to focus on supporting these product in Vietnam because they are majority

0 10 20 30 40 50 60 70 80 90 100

Which of the following do you own?