Programme unit 6: Business decision making
Outcome 1: Be able to use a variety of sources for the collection of data, both primary and secondary
Outcome 2: Understand a range of techniques to analyse data effectively for business purposes
Outcome 3: Be able to produce information in appropriate formats for decision making in an organisational context
Outcome 4: Be able to use software generated information to make decisions in an organisation
TASK 1 (By 03 January 2016)
Scenario – SeaWorld Theme Park
Middle East Entertainment Ltd (the ‘’Company’’) is a real estate development company investing in theme and amusement parks across the Middle East. The Company is considering an investment opportunity to develop a large-scale open-air SeaWorld theme park in the area of Dubai, UAE. The management of the Company seeks information on the amusement park industry sector in the UAE in order to evaluate the investment opportunity and make several important business decisions. The Company appointed you as their consultant to analyse relevant market data/ information and deliver a professional report based on your findings.
The proposed SeaWorld theme park will offer a variety of experiences for the residents and tourists of the UAE such as rides and attractions, open-air educational areas and activities for children, evening shows and food courts. There will be more than 30 rides and attractions for different ages of people (for juniors, the park will offer rides and activities starting from the age of two years old). In addition, the park will host a large-size indoor Oceanarium presenting an ocean habitat with marine animals from around the globe. The park is planned to be located in the close proximity to Dubai (around 20 minutes’ drive from the center of Dubai).
In order to assess commercial and financial feasibility of the project, the Company seeks market information on leisure needs and preferences of residents of the UAE. Also, the Company would like to assess the level of interest in the open-air SeaWorld park theme among the residents of the UAE, the potential park traffic (attendance) and the price an adult visitor would be willing to pay for one-day visit ticket to the park.
(1) Your role as the consultant will involve investigation into current and possibly future leisure needs and preferences of the residents of the UAE. Your findings need to be reported to the Company.
Higher National Diploma – Business Management
(2) The management of the Company also asked you to evaluate the statistical relationship between the monthly household income and the price an average adult visitor would be willing to pay for one-day visit ticket to the park.
In order to meet all the learning outcomes (L01-L03) you will be required to:
I. Learning Outcome L o1: 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
II. Lo2: understand a range of techniques to analyse data effectively for a business
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
III. L o3: 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.
Guidelines to achieve Pass grade for Task 1
You will need to produce a detailed plan of how you will collect the data, justifying the usage of primary and secondary sources. Primary data can be collected by administering questionnaires. Data from the Internet or other published sources can be used as examples of secondary data.
You will need to present the survey methodology used. Discuss in your report how the sample was selected from a population.
Produce a questionnaire for the investigation into the current and possibly future leisure needs and preferences of the residents of the UAE. The questionnaire may ask 10-15 questions; you can circulate your questionnaire within or outside of the University. You
Higher National Diploma – Business Management
can also work on the design of the questionnaire together with a fellow student, if you wish.
You will need to classify, record and present your market findings appropriately.
Using market data collected, analyse it by the use of averages (mean, median, mode) and measures of dispersion (standard deviation, inter-quartile range).
You are required to estimate the statistical relationship between the monthly household income and the price an average adult visitor would be willing to pay for one-day visit ticket to the park using a linear regression model. For this, you can use the survey collected data. You will need to calculate and interpret the correlation coefficient and coefficient of determination, calculate the constants “a” and “b” for your linear regression model.
You will need to present your findings appropriately, using Excel spreadsheet graphs (line, pie, bar charts and histograms), tables, scatter XY graphs.
You will need to predict the price level for the monthly household income range outside of your collected source data.
You will need to produce a formal business report detailing your findings from the tasks above to the Company.
Task 2 (By 03 January 2016)
LO4: Be able to use software generated information to make decisions in organisations
4.1 – Use appropriate information processing tools
Discuss the use of Management Information Systems (MIS) in the context of decision making at different levels of the organization.
Guidelines for Task 2
Discuss different types of information (strategic, tactical and operational)
Define what MIS is, discuss different types of information systems at different level of management (Executive Support Systems, Decision Support Systems, Expert Systems, and Transaction Processing Systems).
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