BUSINESS DECISION MAKING: Assignment 1

Table of Contents

Introduction. 2

I) Create a plan for the collection of primary and secondary data. 2

II) Present the survey methodology and sampling frame used. 3

1) Survey methodology: 3

2) Sampling method. 5

III) Design a questionnaire for the problem.. 5

IV) Information for decision making by summarizing data  using representative values. 6

V) Analyze the results to draw valid conclusions in a business context. 8

VI) Analyze data using measures of dispersion to inform a given business scenario. 10

VII) Conclusion. 10

References: 10

Introduction

In this world of cutthroat competition, every business needs some competitive advantage to sustain, and FSB is not an exception. Student satisfaction could be considered as an important factor to maintain a competitive advantage. A business should pay more attention to its service  quality  which  can  help  its  organization to  differentiate  itself  from  other organization, and leads to long term competitive advantage. Developing satisfied student should be a primary goal of education. Therefore developing student satisfaction at FSB is very important. If this is achieved, it will enable the strategic objectives of the FSB to run more effectively. Thus the research have been conducted on service quality and student satisfaction at FSB.

I) Create a plan for the collection of primary and secondary data

In order to collect data for research, we need to have a specific plan. There are two type of collecting data, they are primary data and secondary data. Both primary and secondary data will be collected to evaluate the relationship between the service quality and overall student satisfaction in FSB.

Primary data

Primary data are new data specifically collected in a research project.

The advantages:

• Researcher can focus on both qualitative and quantitative issues.
• The researcher can controls the search design to fit the needs of research.
• Researcher will have a higher control over how the information is collected. Taking this into account, the researcher can decide on such requirements as size of project, time frame and goal.
• Collected information is original and unbiased.

The disadvantages:

• Primary data collection is usually expensive and it will take a lot of time 

•  It is required to develop and executive the research plan. Therefore it will take longer than secondary data.

Secondary data

Secondary data are existing data that can be used in the current project.

The advantages:

• ·         Easy to Access: With internet development today, everyone can easy access many source of data which can be used as secondary method.
• ·         Low Cost: when using secondary method, there is no cost to acquire

The disadvantages:

• ·         Quality of Research: it is no way to know information in secondary data is trustful or not.
• ·         Secondary data is sometime does not meet research requirement
• ·         Data could be out of date.

In this research, due to the disadvantages and advantages of two methods I choose primary data to this research. The research is collected primary data through questionnaire survey to achieve the specific objectives. The study collected data from B2G program of FSB. I collected the data by issuing question list to other students. The questionnaire refers to the online questionnaire. Online questionnaire was created using www.docs.gooogle.com and distributed through the email and Facebook among the students.

II) Present the survey methodology and sampling frame used

1) Survey methodology:

In case of this study, there are two common methods which can be used to collect data for the research. They are questionnaire and personal interview, and both of them have specific advantages and disadvantages which is clarified below.

Questionnaire:

The advantages: 

• ·         Practicality: questionnaire can be applied in many situation because of its convenience and quickness.
• ·         Massive information can be collected from many people in a short period of time with the cheapest cost.
• ·         Questionnaire can be implemented by anyone without any deep affect to its validity and reliability
• ·         The results can easily be obtained and measured.
• ·         The targets are not effected by interviewer therefore the result is more objective.

The disadvantages:

• ·         Gained information does not have any explanation.
• ·         Researcher cannot know collected information is trustful or not.
• ·         Questionnaire could be done with negligee and carelessness.
• ·         Decisions and assumption of researcher can effect on content of questions.

Personal Interview:

Interview survey is a method of research using oral questions. The interviewers in conversation collect information from respondent to know individual though, feeling and behavior.

The advantages:

• ·         By reducing respondent anxiety and embarrassment, the interviewer can increase response rate and decrease potential error.
• ·         Because of the knowledge of the interviewer, the questions is made easier.
• ·         Interviewer can ask respondent to have clear answer.
• ·         The order and wording in question are fixed. Therefore the information can be stored in a regular manner.
• ·         Interviewers are required less-skilled to do research because questions and way of recording are standardized. Thus cost of survey is reduced.
• 
  
• ·         Pictures, signs and objects can be used to demonstrate for questions.

The disadvantages:

• ·         It will take more time and money to do the research.
• ·         Questionnaires can be difficult to design.
• ·         Questions are typically kept simple, thus the depth of data is limited.  
• ·         Vague or ambiguous replies cannot be probed.

Choose the appropriate survey methodology

Because of the advantages and disadvantages of two method, I decided to two questionnaire and personal interview so that they can cover each other. Personal interview can be conducted in class, and list of questions will be sent to email of students who attend in other classes to get massive information about their level of satisfaction on FSB B2G program service quality.

2) Sampling method

Sampling is one of the most important subjects in quantitative methods. In most practical situations, the popular will be too large to carry out a complete survey. Therefore it requires a sample to be examined There are some common types of sampling methods that could be used, they are random, systematic, stratified and multistage sampling. Among these sampling methods, random sampling is the most suitable method because this is the easiest and cheapest way and can be applied to small population like FSB. Moreover, every respondent will have the same chance to be chosen.

III) Design a questionnaire for the problem

After choosing appropriate type of data, survey methodology as well as sampling method. I designed list of questions. This list were all in English and hard copy and online questionnaire were distributed randomly among 30 students who study at FSB.

1= Strongly Disagree     2= Disagree    3=Don’t Know    4=Agree    5=Strongly Agree

	Questionnaires	Mark
1	When I have problem, staffs show an interest in solving it.	1	2	3	4	5
2	Staffs communicate well with students.	1	2	3	4	5
3	Staffs have good knowledge of the systems.	1	2	3	4	5
4	Students are treated equally by the staffs.	1	2	3	4	5

5	Lecturers have the knowledge to answer my questions relating to the course content.	1	2	3	4	5
6	When I have a problem, lecturer show a sincere interest in solving it.	1	2	3	4	5
7	Lecturers communicate well in the classroom.	1	2	3	4	5
8	Lecturers provide feedback about my progress.	1	2	3	4	5
9	Lecturers are highly educated in their respective field.	1	2	3	4	5
10	Curriculums designed by the university are up to date.	1	2	3	4	5
11	Teaching Methodology is appropriate.	1	2	3	4	5
12	The proportion between theory and practice are appropriate.	1	2	3	4	5
13	The assessment and the grading by the professor are fair.	1	2	3	4	5
14	The timing of the class is suitable.	1	2	3	4	5
15	Small class size helps the class make more interactive.	1	2	3	4	5
16	The university runs excellent quality programs.	1	2	3	4	5
17	The university offers programs with flexible structure.	1	2	3	4	5

IV) Information for decision making by summarizing data  using representative values

Result of survey:

	Q1	Q2	Q3	Q4	Q5	Q6	Q7	Q8	Q9	Q10	Q11	Q12	Q13	Q14	Q15	Q16	Q17	Total
P1	3	1	4	5	4	4	4	5	4	5	5	4	4	5	5	4	2	68
P2	4	1	4	4	4	5	4	4	4	4	2	2	5	2	4	3	2	58
P3	3	2	4	3	5	5	4	2	4	5	5	2	4	5	4	4	4	65
P4	3	1	4	4	4	4	4	4	5	4	2	4	5	5	3	5	4	65
P5	5	2	4	4	4	5	2	4	4	5	5	4	4	2	4	4	2	64
P6	2	2	4	4	5	4	2	2	5	4	2	2	4	2	4	4	2	54
P7	5	4	3	3	4	5	5	4	4	5	2	5	5	5	3	3	3	68
P8	1	3	3	4	4	4	3	4	5	4	4	2	5	4	4	4	2	60
P9	2	5	4	4	4	4	2	4	4	4	2	4	4	4	4	5	4	64
P10	4	2	4	4	4	4	2	5	5	5	2	4	5	4	2	4	4	64
P11	4	3	4	4	4	4	2	4	4	5	4	2	5	2	4	5	4	64
P12	5	3	5	4	4	4	4	1	5	5	2	2	5	2	5	5	4	65
P13	4	5	5	4	4	4	4	1	5	4	2	2	3	2	2	4	2	57
P14	4	4	5	4	4	4	4	4	5	5	2	4	4	4	4	5	2	68
P15	2	4	5	5	4	4	4	4	5	4	2	2	5	2	4	4	2	62
P16	2	4	3	4	4	4	4	2	4	3	2	2	5	2	4	4	3	56
P17	2	4	3	4	4	5	3	4	5	4	5	2	5	2	4	3	2	61
P18	5	4	5	5	5	5	4	5	4	3	2	4	5	4	4	4	2	70
P19	5	4	5	4	4	4	2	5	4	4	2	2	5	2	4	4	3	63
P20	4	5	5	5	4	4	4	5	4	3	2	2	4	5	4	5	2	67

P21	2	5	4	4	3	5	2	4	4	4	5	4	5	4	4	4	3	66
P22	2	3	4	5	4	4	4	3	4	3	2	2	5	5	4	4	2	60
P23	2	2	4	5	4	5	4	4	5	4	2	4	5	2	4	3	2	61
P24	1	1	4	4	5	4	5	4	4	4	4	4	3	5	4	5	2	63
P25	1	2	4	4	4	4	3	2	4	3	1	2	5	4	4	3	2	52
P26	2	4	2	5	5	5	5	4	5	4	3	4	5	4	4	5	2	68
P27	3	4	2	4	4	5	4	2	4	4	2	2	4	2	5	4	2	57
P28	3	5	1	4	5	5	4	2	5	3	3	2	5	4	4	5	2	62
P29	2	3	1	5	4	5	5	4	4	3	2	4	3	5	5	4	2	61
P30	1	3	3	2	3	4	2	2	2	4	1	2	3	2	4	2	1	41

Marks	Frequency	Cumulative frequency	Mean	Mode	Median	Interquartile Range	Variance		CV
41 - 46	1	1	61.8	68 64	63	6	34.85	5.90	0.56
47 - 52	1	2
53 - 58	5	7
59 - 64	13	20
65 - 70	10	30
Total	30

V) Analyze the results to draw valid conclusions in a business context

	Marks	Frequency	Percentage Frequency	Cumulative Percentage Frequency
Very dissatisfied	41-46	1	3.33%	3.33%
Dissatisfied	47-52	1	3.33%	6.66%
Neutral	53-58	5	16.67%	23.33%
Satisfied	59-64	13	43.33%	66.66%
Strongly satisfied	65-70	10	33.33%	100%
	Total	30

VI) Analyze data using measures of dispersion to inform a given business scenario

VII) Conclusion

As can be seen that the mean (61.8) is lower than the median (63) and the skewness is -1.62 so the result of the survey is belong to negatively skewed distribution. That mean most of students at FSB evaluate the quality services have tended is not well. This information from the survey will let the administrative staffs of FSB know that students still did not satisfy with service quality and they should find the solution to improve the quality of academic aspect, teaching methodology, course, syllabus design as well as program issue.

References:

BPP Learning Media, Business decision making 

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