Business decision making Essay Example | Topics and Well Written Essays - 500 words - 1

Business decision making - study ExampleThe study will also put into consideration the sales value of the organization and factors modify sales by use of graphs. In addition, measure of performance of the organization will be of often concern and various methods will be used. Some of those methods include mean mode, median, standard deviation, Variance, correlation coefficient, ire and Net present value methods.1.1) Primary data usually gives firsthand information about the set market hen coming up with a object for the following should be considered question method, finish up methods, sampling plan and research techniques and instruments. These methods of pecking data differ from those of secondary methods. In primary research a clear plan of contacting people who will participate will be decided on. This whitethorn include the use of phone interviews online surveys and other mediums to find out customer preferences from prospect customers. The sampling plan will acquire taking into consideration the size of the sample to be used. The research instruments will involve the use of questionnaires (Boswell, Boswell, and Cannon, 2014)The use of secondary data will involve using data that has been already document these data may be useful because a comparison of similar organization in the constancy may be used in forecasting sales (Kothari, 2005)Collecting primary data has advantages all over secondary data because they are fresh, precise and are related to the issue of concern. Secondary data may be outdated thus may give wrong projections, may contain errors, may not be easily accessible and might be of low quality (Mooi, and Sarstedt, 2011). We are going to collect primary data as well as secondary data as indicated below.1.2) The sampling sick refers to the target group which researchers can use to make selections. It contains a comprehensive and updated list of the members of the population tortuous in the research. There are various methods, w hich can be used for