.HND Assignment Brief Session: February 2017 Programme title NJW10 Pearson BTEC Level 5 HND in Business Unit number and title Unit 6 Business Decision Making Assignment number & title 1 of 1 Individual Written Report Assessor (s) Dr Pedro Longart, Mr Moshahidur Rahman Issue Date 28 February 2017 Final assignment submission deadline 5-10 June 2017 Late submission deadline 12 - 17 June 2017 The learners are required to follow the strict deadline set by the College for submissions of assignments in accordance with the BTEC level 4–7 submission guidelines and College policy on submissions. Resubmission deadline TBA Feedback In-class feedback will be available from draft submissions on a task-bytask basis as a formative assessment as well as summative feedback in the form of initial submission. Final feedback will be available within 2 weeks of the assignment submission date. General Guidelines  The work you submit must be in your own words. If you use a quote or an illustration from somewhere you must give the source.  Include a list of references at the end of your document. You must give all your sources of information.  Make sure your work is clearly presented and that you use readily understandable English.  Wherever possible use a word processor and its “spell-checker”. Internal verifier Prof N Nabi Signature (IV of the brief) * [email protected] Date 27/2/172 ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC Level 5 HND in Business (QCF) Unit 6: Business Decision Making QCF L5 Session February 2017 Course work (Recommended Word limit 3,000) This Unit will be assessed by a written assignment . ASSIGNMENT Assignment Context and Scenario: Consider that you have recently been appointed as a consultant to advise the Product Development team at a UK based outbound tour operator. You are required to write a report consisting of four (4) tasks which should provide an analysis of markets trends customer preferences as well as attitude in order to help develop a new product to be launched in January 2018. In carrying out the tasks, the company wants you to collate relevant data (from raw data already collected) and analyse using appropriate tools and techniques, including statistical methods. The raw data is attached in this assignment brief. This would include a research plan for identifying and collecting both primary and secondary data from appropriate sources. You are required to demonstrate that you have a good knowledge and understanding of appropriate data collection methods and able to process, analyse and present data using relevant techniques and tools, including ICT and software packages such as the spreadsheets. What you must do Task 1: 1.1 Identify the sources of primary and secondary data that you would require for the development of new tour products and create a plan for data collection. You may need to list the type of data required such as consumer profile, preference, attitude and buying behaviour as well as competitor products. [P1.1, M1] 1.2 In order to support the above plan for collecting primary and secondary data, present the survey methodology along with an appropriate sampling frame and strategy. It should include quantitative data but also may include qualitative data if appropriate. [P1.2] 1.3 Design a questionnaire to carry out the survey with relevant instruments to reflect the required data. This questionnaire should include a variety of questions (for example, open-ended, close-ended, rating, ranking) ([P1.3]  To achieve M1, you will need to demonstrate that effective approach to study and to create a plan for collecting primary and secondary data has been applied [Task 1.1]. Task 2: 2.1. Create information by summarising the raw data that has been collected in a spreadsheet attached, based on :  A number of questions asked to 90 customers of the outbound operator.  Information about costs and about the different tour options. P.2.13 2.2 Analyse a range of results that will aid the decision maker with regards to markets to be targeted, most profitable options, and draw valid conclusions. Use information from Task 2a P.2.2 2.3. Analyse data using suitable measures of dispersion (standard deviation, range, semiinterquartile range) to develop a given business scenario for a new tour. Use information from Task 2a. [P2.3, M2, D1] 2.4. Explain how quartiles, percentiles and correlation coefficient can be used to aid decision making in the packaged tour market, using examples from the data collected. [P2.4]  To achieve M2, you will need to demonstrate that a range of methods and techniques have been used in analysing the relevant data to support effective decision making in business context. [Task 2.2]  To achieve D1, you will need to demonstrate the results in Task 2B have been validated using defined criteria such as the dispersion measures or correlation. Task 3: 3.1. Produce graphs and charts (pie, bar, line, ogive, histogram) using a spreadsheet to draw valid conclusions based on the information collected. [P3.1] 3.2 Create a trend line on an XY- plot using as the basis for your information Spreadsheet 2 (attached). Develop a spreadsheet and use it to forecast demand for 2017 and 2018 within the chosen business context. Use the information regarding patterns of demand for a similar tour (see information attached in spreadsheet 2). Assume that the trends for the continents are the same as for the countries shown in the tours [P3.2, M3] 3.3. Prepare a business presentation based on your analysis and findings using appropriate software tools. [P3.3] 3.4 Produce a formal business report for the proposed new product development initiative at the chosen organisation. [P3.4]  To achieve M3, you will have used a range of methods, including appropriate technical language in creating the trend line to assist in forecasting information for decision making in your organisation. Task 4: 4.1 Using appropriate information processing tools, prepare a project plan and determine the critical path for the launch of a new tour product. [P4.1 and P4.2, D2] 4.3 Use financial tools such as investment appraisal and cost-volume profit analysis to assess the best options. Make reasonable assumptions such as net cash flow and growth and the most likely price to be paid by consumers (taken from task 2). Assume that the trends for the continents are the same as for the countries shown in the tours, in order to estimate growth. Assume that all sales and payments are cash. Use a cost of capital between 7 and 10%. Use all the information in the attachment (labelled information needed for task 4b) provided to support your arguments. [P4.3, D3]  To achieve D2, you will need to demonstrate that substantial activities have been planned, organised and managed in the preparation of the project plan.4  To achieve D3, you will need to demonstrate that innovation and creative thought have been applied in analysing the financial viability of the proposed product Relevant Information 1. Outcomes of the Unit On successful completion of this Unit a learner will: Assessment criteria for pass: To achieve each outcome a learner must demonstrate Questions reflecting the Learning outcome 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 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 Task 1 LO2. Understand a range of techniques to analyse data effectively for business purposes 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 Task 2 LO3. 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 Task 3 LO4: Be able to use software- generated information to make decisions in an organisation 4.1 use appropriate information processing tools 4.2 prepare a project plan for an activity and determine the critical path 4.3 use financial tools for decision making Task 45 2. Grading Criteria for Merit and Distinction of this coursework Merit (M1, M2, M3) Distinction (D1, D2, D3) Descriptors Indicative characteristics Descriptors Indicative characteristics M1  Identify and apply strategies to find appropriate solution You will need to demonstrate that effective approach to study and to create a plan for collecting primary and secondary data has been applied D1  Use critical reflection to evaluate own work and justify valid conclusions You will need to demonstrate the results in Task 2B have been validated using defined criteria such as the dispersion measures (standard deviation or correlation). M2  Select/design and apply appropriate methods/techniqu es You will need to demonstrate that a range of methods and techniques have been used in analysing the relevant data to support effective decision making in business context. [related to Task 2B]  D2  Take responsibility for managing and organising activities You will need to demonstrate that substantial activities have been planned, organised and managed in the preparation of the project plan. M3  Present and communicate appropriate findings You will have used a range of methods, including appropriate technical language in creating the trend line to assist in forecasting information for decision making in your organisation. D3  Demonstrate convergent/lateral /creative thinking You will need to demonstrate that innovation and creative thought have been applied in analysing the financial viability of the proposed product Guide to student 3. Preparation guidelines of the Coursework Document a. All coursework must be word processed. b. Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch). c. Font size must be within the range of 10 point to 14 point including the headings and body text (preferred font size is 11). d. Standard and commonly used type face, such as Arial and Times New Roman, should be used. e. All figures, graphs and tables must be numbered. f. Material taken from external sources must be properly referred and cited within the text using Harvard system g. Do not use Wikipedia as a reference. 4. Plagiarism and Collusion Any act of plagiarism or collusion will be seriously dealt with according to the College regulations. In this context the definitions and scope of plagiarism and collusion are presented below: Plagiarism is presenting somebody else’s work as your own. It includes copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort. Collusion is copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism or collusion will be investigated and if found to have occurred will be dealt with according to the College procedure (For details on Plagiarism & Collusion please see the Student Handbook).6 5. Submission a. Initial submission of coursework to the tutors is compulsory in each unit of the course. b. The student must check their assignments on ICON VLE with plagiarism software Turnitin to make sure the similarity index for their assignment stays within the College approved level. A student can check the similarity index of their assignment three times in the Draft Assignment submission point located in the home page of the ICON VLE. c. All Final coursework must be submitted to the Final submission point into the Unit (not to the Tutor). The student would be allowed to submit only once and that is the final submission. d. Any computer files generated such as programme code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation. e. Any portfolio for a Unit must be submitted as a hardcopy to the Examination Office. f. The student must attach the tutor’s feedback from the First submission in between the cover page and the answer in the case of Resubmission. 6. Good practice a. Make backup of your work in different media (hard disk, memory stick, etc.) to avoid distress for loss or damage of your original copy. 7. Extension and Late Submission a. If you need an extension for a valid reason, you must request one using an Exceptional Extenuating Circumstances (EEC) form available from the College Examination Office and on the ICON VLE. Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick, and should be submitted to the Examination Office. b. Late submission will be accepted and marked according to the College procedure. It should be noted that late submission may not be graded for Merit and Distinction. c. All late coursework must be submitted to the Late submission point into the unit (not to the Tutor) in the ICON VLE. A student is allowed to submit only once and that is also treated as the final submission. 8. Submission deadlines Online to the ICON College VLE Final Submission date: 5-10 June 2017 Late Submission date: 12 – 17 June 2017 Glossary: Analyse: Break an issue or topic into smaller parts by looking in depth at each part. Support each part with arguments and evidence for and against (Pros and cons). Critically Evaluate/Analyse: When you critically evaluate you look at the arguments for and against an issue. You look at the strengths and weaknesses of the arguments. This could be from an article you read in a journal or from a text book. Discuss: When you discuss you look at both sides of a discussion. You look at both sides of the arguments. Then you look at the reason why it is important (for) then you look at the reason why it’s important (against). Explain: When you explain you must say why it is important or not important. Evaluate: When you evaluate you look at the arguments for and against an issue. Identify: When you identify you look at the most important points.