UNIT 6: BUSINESS DECISION MAKING

Unit 6:
Unit code: QCF level: Credit value:

Business Decision Making
D/601/0578 5 15 credits



Aim

The aim of this unit is to give learners the opportunity to develop techniques
for data gathering and storage, an understanding of the tools available to
create and present useful information, in order to make business decisions



Unit abstract

In business, good decision making requires the effective use of information.
This unit gives learners the opportunity to examine a variety of sources and
develop techniques in relation to four aspects of information: data gathering,
data storage, and the tools available to create and present useful information.
ICT is used in business to carry out much of this work and an appreciation and
use of appropriate ICT software is central to completion of this unit.
Specifically, learners will use spreadsheets and other software for data
analysis and the preparation of information. The use of spreadsheets to
manipulate of numbers, and understanding how to apply the results, are seen as
more important than the mathematical derivation of formulae used. Learners will
gain an appreciation of information systems currently used at all levels in an
organisation as aids to decision making.


1 2 3 4

Learning outcomes
Be able to use a variety of sources for the collection of data, both primary and
secondary Understand a range of techniques to analyse data effectively for
business purposes Be able to produce information in appropriate formats for
decision making in an organisational context Be able to use software-generated
information to make decisions in an organisation.

On successful completion of this unit a learner will:

BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in
Business – Issue 1 – April 2010 © Edexcel Limited 2010

29

UNIT 6: BUSINESS DECISION MAKING

Unit content

1

Be able to use a variety of sources for the collection of data, both primary
and secondary Primary sources: survey methodology; questionnaire design; sample
frame; sampling methods; sample error Secondary sources: internet research;
government and other published data; by-product data Storage: security of
information; data protection issues; ethical issues

2

Understand a range of techniques to analyse data effectively for business
purposes Representative values: mean, median, mode; calculation from raw data
and frequency distributions using appropriate software; using the results to
draw valid conclusions Measures of dispersion: standard deviation for small and
large samples; typical uses (statistical process eg control, buffer stock
levels) Calculation: use of quartiles, percentiles, correlation coefficient

3

Be able to produce information in appropriate formats for decision making in an
organisational context Creation and interpretation of graphs using
spreadsheets: line, pie, bar charts and histograms Scatter (XY) graphs and
linear trend lines: extrapolation for forecasting (reliability) Presentations
and report writing: use of appropriate formats; presentation software and
techniques

4

 

Understanding specific need in health and social care

Be able to use software-generated information to make decisions in an
organisation Management information systems: computers and information
processing tools for operational, tactical and strategic levels of the
organisation Project management: networking and critical path analysis, Gantt
and Pert charts Financial tools: net present value; discounted cash flow;
internal rates of return

30

BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in
Business – Issue 1 – April 2010 © Edexcel Limited 2010

UNIT 6: BUSINESS DECISION MAKINGHND Assignment Help

Learning outcomes and assessment criteria

Learning outcomes
On successful completion of this unit a learner will: LO1 Be able to use a
variety of sources for the collection of data, both primary and secondary

Assessment criteria for pass
The learner can: 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

LO2 Understand a range of techniques to analyse data effectively for business
purposes

Unit 4 – Personal  and professional development in health and social care

Business strategy assignment help

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

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

LO4 Be able to use softwaregenerated 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.

BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in
Business – Issue 1 – April 2010 © Edexcel Limited 2010

31

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UNIT 6: BUSINESS DECISION MAKING

Guidance

Links
This unit is should be linked to the other core units in the programme in
particular: Unit 1: Business Environment, Unit 2: Managing Financial Resources
and Decisions; Unit 7: Business Strategy and Unit 8: Research Project. There
are also links with the following specialist units: Unit 9: Management
Accounting: Costing and Budgeting, Unit 15: Managing Business Activities to
Achieve Results, Unit 16: Managing Communications, Knowledge and Information;
Unit 19: Marketing Planning and Unit 34: Operations Management in Business.
This unit also links to the Management and Leadership NOS as mapped in Annexe
B.

http://btechndcourse.blogspot.in/2015/10/internet-and-e-business_30.html
Essential requirements
It is essential that learners have access to computers and the internet and
specialist packages for statistical analysis and network planning.

Employer engagement and vocational contexts
Centres should try to develop links with local businesses. Many businesses and
chambers of commerce are keen to promote local business and are often willing
to provide visit opportunities, guest speakers, information about business and
the local business context.

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BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in
Business – Issue 1 – April 2010 © Edexcel Limited 2010

Get Assignment help for this assignment at hndassignmenthelp@gmail.com

 

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