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
ASSIGN MEN T FRON T SHEET N o.1 Qualification BTEC Level HN D Diploma in Business Unit number and title Unit6: Business Decision Making Retake Class: GBS0405 Assignment due Assignment submitted Learner’s name Assessor name Ms DuyenNTN Learner declaration: I certify that the work submitted for this assignment is my own and research sources are fully acknowledged Learner signature Date Grading grid P1.1 P1.2 P1.3 P2.1 P2.2 P2.3 M1 M2 M3 D1 D2 D3 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 Assessment criteria Expected evidence Task no Assessor’s Feedback 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 □collect primary data and □the source of secondary data 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 Achieved N ot achieved 1.3 Design a questionnaire for the problem Part of report where student individually □design a questionnaire which □related directly to the survey’s objective Achieved N ot achieved 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 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 2.3 Analyse data using measures of dispersion to inform a given business scenario 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 Achieved N ot achieved Achieved N ot achieved Achieved N ot achieved Assessment criteria Expected Evidence Feedback (note on Merit/Distinction if applicable) Achieved N ot achieved Achieved N ot achieved Merit descriptor No (M1) Part of report where student individually □design a interview questionnaire which related directly to the survey’s objective Merit descriptor No (M2) Good analysis of the results to draw valid conclusions in a business context Merit descriptor No (M3) Clear assignment structure with appropriate level of academic English writing Provide good analysis of information for decision making by summarizing data - An appropriate range of research on survey and appropriate recommendation - Sources of information are correctly cited Achieved N ot achieved Achieved N ot achieved Achieved N ot achieved - Smart recommendation for decision making by summarizing data Achieved N ot achieved Distinction descriptor No (D1) Distinction descriptor No (D2) Distinction descriptor No (D3) Summative feedback Date Assessor’s Signature Contents Part 1: Collecting of data 1.1 Primary data and secondary data 1.2 Survey methodology and sampling methods 1.3 Questionnaire design 10 Part The analysis of data Conclusion 21 References 22 13 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 Definition Source Advantages and Disadvantages Primary Data Data collected by the investigator for a specific purpose Interview Observation Action research Case studies 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 Secondary Data Data collected by someone else for some other purpose Internet research Official statistics Mass media products Government reports Web information 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 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 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 = -Divide population of N individuals into groups of k individuals: k = N/n = 64/8 = 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 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 10 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 Age 17 or Younger 18-30 31-45 45 or older Gender Male Female Occupation Student Employed What is your yearly income? $0-10000 $11000-50000 $50000 or more _ Shopping for Technology When shopping for new technology products, which brands you prefer? Apple Samsung LG Huawei Other How willing are you to pay more for higher branded products? Very unlikely Unlikely Neither likely/unlikely Likely Very likely 11 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 Do you own any products from Apple? Yes No Which of the following you own? iPhone iPad iMac iPod Macbook Apple Watch How many Apple products you own? (If more than two, please select all selection above) 5+ Roughly with each purchase from Apple, how much are you likely to spend per item? $300-500 $500-1000 $1000-2500 $2500 or more Do you udate your Apple products to the new Innovation models? Yes No In your opinion you believe that Apple Inc’s products provide you with value for money? Yes No _ About you Name: ……………………………………………… Email: ……………………………………………… Phone: ……………………………………………… Additional comments:………………………………………………………………………………………………………………………………………………………… 12 Thank you for your participation! Part 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 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 Q1: Age Results Q1 17 or Younger 18-30 31-45 45 or older Frequency 16 28 29 27 Age 45 or older 27% 17 or Younger 16% 17 or Younger 18-30 31-45 45 or older 18-30 28% 31-45 29% This major survey questions about the age of the clients currently using Apple products As we can see, ages 17 or younger accounted for 16%, 18-30 accounted for 28%, 31-45 accounted for 29% and 45 or older accounted for 27% This shows that Apple customers are covered throughout the ages and have largely focused on aged between 18-45 This sign also shows that young people are in this period often used Apple products to aid in studying and working In this age, the use of technology in our lives to be promoted and popular, that is why the age from 18-45 up to 57% 13 Q3: Occupation Results Q3 Frequency Student 37 Employed 63 Occupation Student 37% Student Employed Employed 63% This question focuses on the occupation of the customer based on factors: Student and employed Through the chart we can see, there are 63% of employed and 37% of student The use of Apple products to work higher and use for study occupied lower it suggests that Apple should focus more on improving the performance of the work and support of products Besides, Apple also released the accessory supports better in work such as: Apple Keyboard, Apple Pencil Figures in this question is also affected by the number of users who mainly from 18-45 according to the survey from the question above Q4: What is your yearly income? Results Q4 Frequency $0-10000 70 $11000-50000 19 $50000 or more 11 11% Income 19% $0-10000 $11000-50000 $50000 or more 70% 14 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 $010000/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 you prefer? Results Q1 Frequency Apple 40 Samsung 30 10% Brand 40% 15% Apple LG Huawei 15 Samsung LG 5% Huawei Other 10 Other 30% This survey question about the brand that users in Vietnam tend to buy and more favorites The results obtained clearly accurate compared with the market situation in Vietnam 40% of users would choose Apple, 30% choose Samsung, and the remaining 30% is concentrated in the brands such as Huawei, LG, This is probably the reason why Apple wants to set foot in Vietnam market We can easily recognize this in Vietnam, around the use of Apple products and Samsung Last week I walked into a Starbucks outlet, I observed almost everyone uses iPhone, a few Samsung users but only in the medium segment the Samsung more than 10% is also easy to realize Apple is currently headed in Vietnam through survey data 15 Q2: How willing are you to pay more for higher branded products? Results Q2 Frequency Very unlikely Unlikely 10 Neither likely/unlikely 22 Likely 30 Very likely 36 Willing to pay for higher branded products 2% 10% 36% Very unlikely 22% Unlikely Neither likely/unlikely Likely Very likely 30% This survey questions focused about likely willing to pay more for the larger brands Results received reflect the true status and culture of Vietnam Customers in Vietnam often have thought is: "big brands will make good products," "You get what you pay for", Although according to the above survey, the income of Vietnam is not high but they are willing to pay very high for big brands and Apple as a brand they usually that With a total of 66% of customers choose Likely and Very Likely, only 12% are choosing Unlikely and Very Unlikely, 22% then neutral showed that Besides, in Vietnam we also often find that Apple's product, not just a product to use but also to show the level, jewelry Favorable thing for Apple because their products are cared the meticulous appearance and elegance, this match customer habits in Vietnam Q3: When buying new technology products, how important are the following attributes? Very Significant Significant Insignificant Very Insignificant Quality 88 Packaging 26 44 25 Price 75 15 5 Popularity 30 22 25 23 16 Availability 40 31 12 17 When buying new technology products, how important are the following attributes? 100 90 80 70 60 50 40 30 20 10 Quality Packaging Very Significant Price Significant Insignificant Popularity Availability Very Insignificant 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 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 17 Thirdly, Purchasing Apple Technology Q2: Which of the following you own? Results Q2 Frequency iPhone 87 iPad 30 iMac 12 iPod Macbook 60 Apple Watch 30 Which of the following you own? 100 90 80 70 60 50 40 30 20 10 iPhone iPad iMac iPod Macbook Apple Watch Through the collection we can get noticed the success of the Apple iPhone With more than 87% of iPhone owners, the lower is the Macbook with 60%, Apple Watch and the iPad have equal number is 30%, 12% of iMac and only 0% of iPod 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 18 Q3: How many Apple products you own? (If more than two, please select all selection above) How many Apple products you own? 100 90 Results Q3 Frequency 87 70 70 50 80 60 40 32 12 5+ 30 20 10 5+ 87% of people have owned one Apple product according to a survey of 100 people surveyed So, according to the above survey questions also has 87% of people own the iPhone This shows that the iPhone is the required product when using Apple products There are 70% of the people use Apple products, 32% of people using products, 12% use products and 6% use more than products From the above figures, we can parse out the number for each answer from data obtained: Results Q3 Frequency 87 Frequency (Select only selection) 17 70 38 32 20 12 5+ 6 19 Owning 2-3 Apple products with 58% of clients indicating that they are dependent on Apple's ecosystem This keeps their feet in this ecosystem because of the excellent synchronization between the devices This is more advantages for Apple prepare to come to Vietnam market Q5: Do you update your Apple products to the new Innovation models? Results Q5 Frequency Yes 82 Do you udate your Apple products to the new Innovation models? (Survey among the owners of Apple products) 18% No Yes 18 No 82% 82% of users are using Apple products accept upgraded their products when Apple releases new products This proves that consumers are using Apple products in Vietnam are mostly loyal customers A potential market and Apple have a great chance to be successful here 20 Conclusion The success of a business decision relies on the collection and analysis of data obtained Appropriate methods and proper in the collection and analysis of data contributed largely in making business decisions and successful business ventures The implementation of collection and analysis of data accuracy wrong that can make decisions and business projects fail badly 21 References Communitymedicine4asses (2013) Types of Data: Primary and Secondary data, Available at: https://communitymedicine4asses.wordpress.com/2013/01/07/types-of-data-primary-and-secondary-data/ (Accessed: 26 March 2017) Survey Monkey (2016) Questionnaire on Apple https://www.surveymonkey.com/r/KT5DHWT (Accessed: 26 March 2017) 22 Inc., Available at: