Business Decision Making

Question: Discuss about the Report for Business Decision Making? Answer: Identification of the business: Introduction to the enterprise and date of commencement: Childcare or day care by an organization is the supervision of children, generally from the month of three to eleven years (Duncan et al. 2013). This is the activity of looking after the children in the society by babysitter, day-care centre or others. The report discusses the business plan to be implemented on a day care centre for the working parents in the community as they face difficulties in taking care of their children while working the entire day (Feltbower et al. 2013). A business plan is implemented with a tentative two months for incorporating the system as a whole. Name of the enterprise: The behalf of the organization is chosen to be "The Daffodils Day Care Nursery. Childcare is a broad aspect covering a wide range of contexts including social and cultural conventions as well as institutions (Caton et al. 2013). As the childcare providers are the first teachers to the children, they must be well educated as children face most of the cultural as well as psychological changes during the childhood days. Legal identity: The business organization exhibits the Partnership concept. A partnership business is the kind of business activity owned and run by more than one person where there is no legal distinction between the company and the owner. The owners receive the overall profits and directly controls the overall fundamental elements of the business (David 2013). As the plan of activities is made influenced by the working parents' perspective, it exhibits a structure as mentioned above. Location: The site chosen to implement the business plan is Birmingham, United Kingdom. Most of the Asian people are clustered in this place as well as there are British. As most of them are working in the MNC's or doing research programs in the universities, they need the child care firm the most. Therefore, the demand for a day care nursery is huge in this region (Hojsak et al. 2015). The nature of the business: Product(s)/service: The Daffodils Day Care Nursery has planned to implement a structure of providing three types of packages to the target customers. The three packages are the Day Nursery care and breakfast, crche and the evening club for kids. Firstly, the day care nursery takes care of the babies from three months to 11 years of age. They provide breakfast to the children, baby food for the infants, necessary baby care requirements are provided with conditions in payment structures. Secondly, the crche mainly aims towards the school-going children who directly come to the place and stays there until their parents pick them up. This part includes required food delivery to the children and includes care for their studies. Last but not the least, the evening club is for all the children returning from school or staying in the crche. This includes afternoon snacks, playground facilities, etc. Each of the packages is different regarding fee structure, but each one is quite affordable for the parents (Hjlm arsdttir et al. 2016). Market and customers: According to the reports of an annual survey of the market of childcare in UK, the day nurseries has risen the overall income to about 4 percent, exhibiting 4.9 billion in real terms. The report takes account of the day care nursery sector except the childminders and different care providers. According to the report, day care nursery market was expected as well as estimated to generate a 4.8 billion in the 2013-2014 financial years (Hockenberry and Wilson 2014). The plantations in private sector exhibited an overall income of 4.07 billion, which is around 83 percent of the total market value. Source: Children Nurseries in UK market report 2014 The targeted customers are mainly the residents from outside the UK and specifically British middle-income group people and Asian couples who work in MNCs or doing research in the universities in Birmingham. Competition: The day care centre will face competition from the other day care nursery firms. Childcare system consists of many kinds of childcare providers. That are- licensed home day care or family childcare, in-home care, informal care and centre-based care (Kumpu et al. 2012). Now, in UK, all of these childcare facilities are available, that will give rise to a severe competition to the organization. The Key People: Existing management: A couple who used to be busy doing their jobs and faced lot of problems regarding the care of their baby initiates the Daffodils day care Nursery. Therefore, the venture is started with two managers cum owners i.e. the husband and wife. They have charged around five educated nurses for the 15 babies they have begun with. The structure will be like; every three children will be taken care by one nurse. Another five house staffs are appointed for better childcare. Those house personnel must be good at cooking and housekeeping. The management has appointed two officers to control the accounts department. Future requirements: For the expansion of the business, the management will try to expand the area of its service. They will attempt to purchase a new apartment. They will appoint more staffs and trained nurses for daycare. The security system should be maintained at a better facility. Also, the evening club should invest more on playing equipment for the children Strategic Influences A SWOT analysis will help to understand the healthy and problem areas of Daffodils child care nursery. The reader can get an insight of the business structure. Opportunities and Threats Opportunities of Daffodils childcare nursery, Childcare industry has been emerging in Britain for last two three years The global recession has affected the economic state of Europe that is why most of the husbands are allowing their spouses to go in office for making extra income This trend has opened a pathway for childcare industries and evening clubs for children The subsidy providing by the Britain government to the childcare firms are also helping these businesses to develop The threats are as follows, Daffodils should focus on competition as new childcare companies are there for rivalry dils must look at the equality aspect as the racism is a huge problem in some parts of Britain Equal service and same care for every child should be there if it is not followed it would face enormous problems Strengths and weaknesses The strengths in this sector include, The strength of child care is to give the working individual space for their children Daffodils child care nursery has the advantage of location; it is located in Birmingham where most of the families have two people working The high percentage of South Asian community is helping Daffodils to grow their business as these mixed breed of people find the Crche system and nursery schools very helpful Britain government has come up with a revised plan for child care development in whole Britain Potential funding from local and governmental sources are also helping Daffodils in their business The weaknesses in this sector are, The startup cost is too high The fund needed for arranging a big apartment has proved costly for Daffodils Daffodils childcare is a partnership firm, so the source capital inflow is limited. The licensing part required massive influence from local assembly and government The maintenance of the entire center, making it clean and dirt free requires lot of money However, the SWOT analysis model is useless if the market survey method is not followed. The questionnaire pattern should favor in determining the profitability in this business. The threats can be mitigated if Daffodils can develop an excellent understanding of the market opportunities (Rice and Trost 2014). Strategic direction Objectives: Daffodils childcare nursery has many objectives and plans. They want to build this nursery set up in order to capture the local problem regarding child looks after. They are especially providing their services to the children of age between 3 months to 11 years. Daffodils are providing several services for clients of different needs. Crche, childminder, after school and break club, and breakfast club are the services Daffodils childcare is providing. Areas in The South Hall, Birmingham and Essex County have the abundance of South Asian people and people from African origin. Crche: It is a safe play area for babies. Daffodils have employed nurses for taking care of children admitted in their crche. In crche, they are providing education, fun activities and leisure to the kids from 2 years to 11 yrs. It runs for 2 hours (Gudnason et al. 2013). Nursery: The day nurseries are registered childcare facilities in Britain. Daffodils childcare is providing full and part time childcare for children from 3 months to 5 years. They are opened for all year around. It runs for 8 am to 6 pm (Gudnason et al. 2013). Pre-school: Play schools or pre-schools are there for providing education for children under school age. Daffodils offer chronic care, morning and evening schools, etc. In these schools, breakfast and evening snacks are given to the children. Preschools are opened for 38- 40 weeks per year (Frampton et al. 2014). Breakfast club and fun clubs: These clubs offer play and childcare to children from 4 years to 11 years. The parents and working women face immense difficulty in handing the responsibility of their children. Daffodils childcare has set their breakfast club near to traditional schools. These facilities can be availed for 2 hours (Oostveen et al. 2014). Policies The policies they have implemented have been firmly bound to corporate responsibilities and child development initiatives. Daffodils childcare has made their policies specifically to help the working mothers and single mothers in easing out the pressure of the job. They can rely on these preschools and crches for taking care of their kids. Daffodils have implemented strict guidelines for childcare; they have hired qualified nurses for childcare. They teachers are also well equipped in handling children. Daffodils childcare nursery wants to maintain their quality, and they are willing to outperform their competitors regarding service quality. The prices of employment packages are also very less than other rival firms (Frampton et al. 2014). Activities Activities like in house play, after school club, entertainment club, playhouse and nursery are there in Daffodils. Daffodils are also inclined towards social activities and societal works. These activities are maintained carefully so that no qualitative declination happens. References: American Diabetes Association, 2012. Diabetes care in the school and day care to set. Diabetes care,35(Supplement 1), pp.S76-S80. Caete, R., Daz, M.M., Garca, R.A., Martinez, P.M.L. and Ponce, F.M., 2012. Intestinal parasites in children from a day care centre in Matanzas city, Cuba.PLoS One,7(12), p.e51394. Caton, S.J., Ahern, S.M., Remy, E., Nicklaus, S., Blundell, P. and Hetherington, M.M., 2013. Repetition counts repeated exposure increases intake of a novel vegetable in UK pre-school children compared to flavourflavour and flavournutrient learning. British Journal of Nutrition,109(11), pp.2089-2097. David, T., 2013.Working Together for Young Children: multi-professionalism in action. Routledge. Duncan, S., Edwards, R. and Edwards, R., 2013.Single Mothers in International Context: Mothers Or Workers?. Routledge. Feltbower, R.G., Fleming, S.J., Picton, S.V., Alston, R.D., Morgan, D., Achilles, J., McKinney, P.A. and Birch, J.M., 2014. UK case-controls study of brain tumours in children, teenagers and young adults: a pilot study. BMC research notes,7(1), pp.1-7. Frampton, A.M., Sisson, S.B., Horm, D., Campbell, J.E., Lora, K. and Ladner, J.L., 2014. What's for lunch? An analysis of lunch menus in 83 urban and rural Oklahoma child-care centers providing all-day care to preschool children.Journal of the Academy of Nutrition and Dietetics,114(9), pp.1367-1374. Gudnason, T., Hrafnkelsson, B., Laxdal, B. and Kristinsson, K.G., 2013. Does hygiene intervention at day care centres reduce infectious illnesses in children? An intervention cohort study.Scandinavian journal of infectious diseases,45(5), pp.397-403. Hjlmarsdttir, M.., Gumundsdttir, P.F., Erlendsdttir, H., Kristinsson, K.G. and Haraldsson, G., 2016. Co-Colonization of Pneumococcal Serotypes in Healthy Children Attending Day Care Centers: Molecular Versus Conventional Methods.The Pediatric infectious disease journal. Hockenberry, M.J. and Wilson, D., 2014.Wong's nursing care of infants and children. Elsevier Health Sciences. Hojsak, I., PaviĆ¡, A.M., Kos, T., DumanÄ iĆ¡, J. and KolaÄ ek, S., 2015. Bifidobacterium animals subs. Lactis in the prevention of common infections in healthy children attending day care centersRandomized, double-blind, placebo-controlled study. Clinical Nutrition. Kumpu, M., Lehtoranta, L., Roivainen, M., Rnkk, E., Ziegler, T., Sderlundà ¢Ã¢â€š ¬Ã‚ Venermo, M., Kautiainen, H., Jrvenp, S., Kekkonen, R., Hatakka, K. and Korpela, R., 2013. The use of the probiotic Lactobacillus rhamnose GG and viral findings in the nasopharynx of children attending day care. Journal of medical virology,85(9), pp.1632-1638. Oostveen, A.M., Beulens, C.A., Kerkhof, P.C.M., Jong, E.M.G.J. and Seeger, M.M.B., 2014. The effectiveness and safety of short contact dithranol therapy in paediatric psoriasis: a prospective comparison of regular day care and day care with telemedicine.British Journal of Dermatology,170(2), pp.454-457. Rice, K.R. and Trost, S.G., 2014. Physical activity levels among children attending family day care.Journal of nutrition education and behavior,46(3), pp.197-202. Business Decision Making TASK 1 Restaurants are most highly synchronized businesses in todays world. The basic nature of project is preliminary in a novel Asian restaurant within North West in London. The firm has decided to unbolt novel restaurant within Wembley central. As per National Restaurant Association, restaurant industry and its sales are predictable to reach about a record of some $537 billion within 2015 and also they have expected that there will be about 935,000 restaurant-plus-food and service centers. Initially we will need to perform a proper business plan for opening a restaurant in the place (Alen 1986). a) Create a plan for the collection of primary and secondary data for a given business problem. b) present the survey methodology and sampling frame used. c) Design a questionnaire for a given business problem. d) Create information for decision making by summarising data using representative values. Answer 1: a) Project objectives Opening of a novel Restaurant within Wembley central location and enable the firm to meet all group of aims and objectives: Attainment of firms objective which in return would maximize wealth and benefits of the shareholders. Fulfill the growth of the firm organically. Accomplish the customers needs like easy access towards the stores as well as good user services (Bismarck 1991). Industry Analysis Although restaurant industry currently is extra competitive as well as the quantity of people also have lesser time, resources, plus capability to cook and also for such people it is vital that restaurant is glowing positioned for present interest in addition to people getting healthier foods on moderate as well as low prices with extra benefits and good ambience. b) DATA COLLECTION Primary Research:The aim and goal of the primary research will be to collect all data and information through analyzing present sales of several other firms in the area as well as effectiveness of present practices by these restaurants. Primary study will also indulge competitors' strategy, providing the firm with all information regarding the competition in the marketplace. Collecting the primary data will include: Interviews through telephone or even face-to-face discussions with clients who regularly visit such places Surveys that may be online and even through mail Questionnaires that will be distributed online or through mail Focus will be on cluster of people that would help in gathering all sampling for the potential clients otherwise customers as well as getting their straight feedback Few vital queries would include: Factors to be considered while purchasing such product otherwise services? What would people like otherwise dislike regarding current products and services in the marketplace that they have already used? What fields would people suggest that needs improvement? (Dickey 1973) What is proper price for the product otherwise service that people area also ready to pay? Secondary Research: The main aim and goal of the secondary research will be to analyze information as well as data which has previously been published by some other researchers. With the secondary data, the firm will be able to identify all its competitors, establish proper benchmarks as well as identify exact target market that will be targeted by the firm while opening novel restaurant in London. These segments will be people who also fall into the targeted demographic that are people who may live a convinced lifestyle, display particular behavioral prototype otherwise fall in a determined age set. The survey methodology that will be used in this situation will be questionnaire method which will help the fir3m to attain proper and exact data related to the market condition and demands of people. Since restaurant business includes both product as well as service the firm needs to attain data related to both the fields and thereby fulfill all customer demands. C) Answers the questions in yes/no How many times in a week you visit a restaurant YES NO Do you like eating away from home? Do you like going to a restaurant? Do you like to spend extra money for eating outside? Do you like the ambience of the available restaurants? Do you like Italian food? Do you like to see some new restaurants in the area? d) Future Trends plus Strategic Opportunities Future Trends plus Strategic Opportunities Predicated expansion and movement will be positive both regarding short as well as long-run projections. Modern living has created extra demands and liking of people that force them to eat their meals gone from home (Freeman 2010). According to National Restaurant association release Foodservice industry may also look within the year 2015 to very great extent. Few highlights from panel's conclusions are mentioned below: Consumers would spend greater quantity of food price away from their home. Independent operator as well as entrepreneurs would be main basis of novel eating place idea. Food concern would be also critical at every form of foodservice functions, as well as food flavor would also be of better significance. Environmental concerns would also receive enhanced interest. Financial Feasibility Proper financial study of the Feasibility is estimation of financial concepts of things or plans. This project will be assessed regarding its monetary feasibility as well as its feasibility within terms of price plus analysis. The advantage that could be derived through this study will also outweighs its starting cost. Considering the performance of the restaurant along with same size within Wembley location, I have also used performances to project expected and predetermined cash flows on average both will produce 10,000 every week. Operational Feasibility I recommend such restaurant would be capable of attaining these under attacked payback phase of some five months towards making back initial investment. Such analysis has also been shown as the firm earning extra dollars through this business (Mancuso 1974). Social plus Environment Feasibility The firm has undertaken proper market research as well as environment scanning towards ascertaining whether there would be any interest on the restaurant, what is the demographic settlement such as related to the food. My research also indicated that majority of people would like the food just because they will be provided different types of variety and in a relaxing ambience. Profits losses Whether the firm produces monthly otherwise weekly, profit plus loss statements supply the operators of the restaurant with a broad impression of sales history. But information merely becomes useful while broken down towards reflecting cost of the sales, cost of the labour plus also other transparency costs. Financial analyses of the restaurant assesses profits as well as losses with very vital eye towards settling on unambiguous areas which must also be improved on. Sales Cost Restaurants cost of the sales, at times referred to the cost of the goods, is sum of every expense related to producing menu products. Should the food costs also be running on some 20 percent otherwise 40 percent? Answer could also vary on the basis of a restaurants positioning like fast casual and casual otherwise upscale plus also the menu mix. The financial analysis of the restaurant can also help the operator decide about where their price of sales must be by construction of the academic food as well as beverage costs and prices Labor Cost Cost of the Labor is yet another donor towards cost of the sales. A proper line also exists amid overstaffing. A proper restaurant as well as scheduling enough staffs to run the restaurant properly adds cost to the goods and services served to people visiting the place. Levelheaded setting up as well as employee result is best ways towards controlling the cost of the labor. Additionally, tools must also be attainable to assess the mid-shift requirements. Several restaurateurs are also unwilling to stage out staffs within an opportune fashion. This financial analysis could also re-examine the payroll reports and the sales reports as well as customer counts towards optimizing as well as scheduling the total productivity plus decreasing the cost of the labor ('Multiway Data Analysis' 1990). Market Competitively as well as Activity This study would fit business tactic of restaurant as it would help to gain total competitive advantage, make novel market intended for the potential users, gain the market share within supplying proper respnose to alterations in trade environment, augment profitability, create local branch, get hold of new consumers, expansion of the business as well as improve firms image that could be attained as there is very existing market hole which the firm can fill through the Ansoffs matrix. Marketing Analysis demonstrates that such project would make business extra competitive within the below mentioned ways: Demographic populace: In the west London location, population is extra high. There also are several Asian restaurants attainable in area. And all restaurants supply good services plus also good food. Food diversity: The communal society would also be interested within our food as we would provide variety within food with the music. Industry Trends Studying the industry trends will be one of first steps within conducting proper market analysis. It would also help the firm to recognize chances as well as threats within industry which might also affect the productivity. Consumers would also spend greater part of their dollars to eat away from their home and the competition within industry of food service would also be extra intense because growth also continues. Main food service and their chains would also enhance their shares towards both sales as well as units. Self-governing operators would be main source towards novel restaurant ideas (Sandy 1990). TASK 2 Opening novel Restaurant withiin Wembley central location would help the firm to meet following set of aims and objectives: Attainment of the firms objective that includes maximization of the shareholders wealth, Fulfil its development organically, achieving customers need like easy right of entry to the stores as well as good consumer services. Feasibility studies also have been made after thorough market research as well as ecological analysis plus also marketing analysis towards ascertaining whether it would actually fit their trade strategy that is separation focus. I also have carried the Feasibility research, SWOT analysis and also PEST analysis as well as Stakeholder Analysis and Market Analysis plus also Ansoffs Matrix, possessions, Financial sources, Implementation of project, Strategy for Marketing and its Mixes etc. Project needed resources also have all been recognized, their related cost as well as necessary base of finance towards fund such a task will be well established comprising its overall and total budget. Evaluation of the regarding its cost as well as benefit analysis is a vital part. The project plan and timescale for managing and implementing the project have been shown within Gantt chart. Every relevant stakeholder comprises of engagement along with senior supervisors as well as area manager that are contacted related to proper marketing strategy and plan that is to be accepted for the project. Location also is vital towards success of the novel restaurant (Schilit 1987). There also are a quantity of elements to believe the place and time when the searching for the wonderful restaurant within the area, including the population basis, local service figures as well as accessibility. This indulges to find a proper location in the Wembley Central within London and agree rent and acquir e congregation permission prior to the initiation of renovating as well as scheming of the restaurant. At times it may also take time towards finding a proper place thus it probable to acquire one month (Wells 1977). Answer 2: DATA AND ANALYSIS Figure 1 As per analysis somewhat only 30% of people said that they do not like eating away from their homes whereas 70% were very happy with the fact that they would eat away from home in a very relaxing and enjoying ambiance. Figure2 As per the analysis 35% people do not like going to a restaurant but 65% do like this and love going to restaurant. Figure 3 There are merely 20% of people who do not like to spend money behind eating outside their home and about 80% of people like to spend extra penny behind eating at restaurants and enjoying outside home. Figure 4 There are about 25 % of people who replied that they dont like the ambience of the available restaurants and 75% people were happy with the available restaurants. Thus this proves that there is tough competition in the market. Figure5 Since the restaurant will be specialized in Italian food this query was made that whether people like such cuisine or not. In this question 50% of people replied that they love Chinese food and 50% didnt like Italian food. It says that firm must not merely provide Italian cuisine but also try to serve some other cuisines at times in order to attract more people. APPROPRIATE INFORMATION Though the firm would possibly prefer towards focusing on the efforts for opening the restaurant which would serve Italian items yet the firm needs totally emphasis on some other cuisines as well. Merely Italian would not fulfill all the demands of customers. Here investors would also expect the business plan for include some five-year plan as well as projection of all the human, financial as well as monetary resources needed in the coming future. It also includes the cash flow and financial statements and the balance sheets pus the profit loss accounts and statements as well as debt otherwise equity sum schedules (Shucksmith and Kelly 2014). The common economic ecology demonstrates that expenditure on level amongst few people entity would fall because of a difficulty in attaining credit but most youthful people along with relative throwaway income could at least use plus these are people the firm will be targeting. Social factors include the cultural aspects and include health consciousness, population growth rate, elements distribution as well as career attitudes plus also emphasis upon safety. In such area the firm has undertaken proper market research as well as ecology scanning towards ascertaining whether there would be interested upon the restaurant that will be built by the firm in London which is a novel area for the firm. My research has also indicated that majority of people are Asian within the Wembley area as well as would also be interested within our Asian location. Technological elemenst include ecological as well as environmental phases and aspects of the filed, like research as well as development action s and activities, automation, skill incentives plus rate of the technological alterations. Here impact of the technological changes that the firm has already possessed would also help company towards attaining as well as gaining proper competitive advantages like e-commerce. The stakeholder analysis in reality is a very important tool intended for identifying all those people and groups plus organizations which have vital plus lawful interests within specific built-up issues. A proper and clear know-how of probable roles in addition to contributions of several dissimilar stakeholders is very fundamental precondition for any winning participatory town Governance procedure, plus stakeholder analysis also is a fundamental tool intended for achieving proper understanding. This firm that wants to open a new restaurant would also try to connect with staffs. They also carry many paths such as some internal interactions including staff magazine as well as regular updates of the business. Se veral staffs otherwise employees want an enhancement in payment. Staffs also have a extremely big attention in business within the type of the wages, bonuses, reduction as well as holidays and also pensions. Staffs interests might be seen like assertion of the certain rights gaining from what actually is ought to be satisfactory in way within which staffs are treating in the society. References Alen, Larry. 1986. 'Pressure-Sensitive Pads For Data Collection'. Data Processing 28 (3): 157-159. doi:10.1016/0011-684x(86)90009-2. Bismarck, M. 1991. 'Multiway Data Analysis'. Computational Statistics Data Analysis 11 (3): 356-357. doi:10.1016/0167-9473(91)90093-h. Dickey, J. 1973. 'A Contract Plan For Teaching Business Communications'. 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