Business decision making

Paper , Order, or Assignment Requirements

Your assignment consists of two tasks for you to complete. Task 1 is scenario based and requires you to prepare a professional report based on your market findings. Task 1 will test L01 – L03 learning outcomes as set in Unit 6 of your programme. Task 2 will test L04 learning outcomes and will be based on 2 stand-alone questions.

 

TASK 1: Scenario – Ocean World Theme Park

Middle East Entertainment Ltd (the‘’Company’’) is a real estate development company investing in theme and amusement parks across the Middle East. The Company is considering an investment opportunity to develop a large-scale open-air Ocean World type theme park in the area of Dubai, UAE. The management of the Company seeks information on the amusement park industry sector in the UAE in order to evaluate the investment opportunity and make several important business decisions. The Company has appointed you as their consultant to analyse relevant market data and information and produce a professional report based on your findings.

 

The proposed Ocean World theme park will offer a variety of experiences for the residents and tourists of the UAE, such as rides and attractions, open-air educational areas and activities for children, evening shows and food courts. There will be more than 30 rides and attractions for different ages of people (for juniors, the park will offer rides and activities starting from the age of two years old). In addition, the park will host a large-size indoor oceanarium presenting an ocean habitat with marine animals from around the globe. The park is planned to be located in the close proximity to Dubai around 20 minutes’ drive from the center of Dubai.

 

In order to assess the commercial and financial feasibility of the project, the Company seeks market information on the leisure needs and preferences of residents of the UAE. Also, the Company would like to assess the level of interest in the open-air Ocean World theme park among the residents of the UAE, the potential park traffic (or attendance) and the price an adult visitor would be willing to pay for one-day visit ticket to the park.

 

(1) Your role as the consultant will involve investigating current and possibly future leisure needs and preferences of the residents of the UAE. Your findings must be reported to the Company.

(2) The management of the Company has also asked you to evaluate the statistical relationship between the monthly household income and the price an average adult visitor would be willing to pay for a one-day visit ticket to the park.

 

In order to meet all the learning outcomes (L01-L03) you will be required to:

 

  1. 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

 

  1. LO2: Understand a range of techniques for analysing data effectively for a business.

 

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

III. 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 report using suitable software and techniques to disseminate

information effectively

3.4 – Produce a formal business report.