Business decision making Essay Example | Topics and Well Written Essays - 2000 words - 5

Business decision making - Essay Example The essential focus of this feasibility study is to help in decision-making in relation to opening Chatime at UK Coventry. The feasibility study is a great measure that is used in assessing the appropriateness of any given venture. It involves gathering data, storing it in addition to processing it to provide the information required for decision-making As such, this feasibility report will seek to present the computation behind the preliminary capital expenditure, the estimated sales, and the accepted payback period. Data collection process requires intensive planning in order to yield optimal results. Planning enables the data collection crew to set in place the various tools required for the entire process. For instance, the preparation for collection of primary data must acknowledge the contribution of this source of data collection to the entire research design. Quite often, primary data represents fresh evidence of data that other researchers have not delved into before. In real sense, a lot goes into the preparation process required prior to data collection process. For instance, the supervisor must ensure logistical plans are addressed appropriately. Considering the fact that data collection process may take place in varied places, it is important that transport means are made available prior to data collection. All the staff involved in data collection must be transported to their various sites that have been identified within reasonable time. This will also entail setting up central poi nt where all the data that has been collected is presented. This is to ensure that proper storage is guaranteed for all the data that is collected. At the same time, it is very significant to contact the local authorities within the area affected by data collection. This is meant to limit any possible suspicion on the part of local leaders or authorities.