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Questions and Answers
What is a significant advantage of e-rickshaws compared to traditional auto rickshaws?
What is a significant advantage of e-rickshaws compared to traditional auto rickshaws?
In which region have auto rickshaws been most commonly used?
In which region have auto rickshaws been most commonly used?
What distinguishes e-rickshaws from traditional auto rickshaws?
What distinguishes e-rickshaws from traditional auto rickshaws?
Which of the following cities does NOT traditionally use auto rickshaws?
Which of the following cities does NOT traditionally use auto rickshaws?
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How long have auto rickshaws been commonplace in cities like India?
How long have auto rickshaws been commonplace in cities like India?
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What is a key requirement for the report to be effective?
What is a key requirement for the report to be effective?
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Which aim focuses on understanding the impact of business data on decisions?
Which aim focuses on understanding the impact of business data on decisions?
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What is necessary for formulating a business decision?
What is necessary for formulating a business decision?
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Which component enhances the clarity of a business strategy presentation?
Which component enhances the clarity of a business strategy presentation?
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In the context of this unit, what is NOT an aim?
In the context of this unit, what is NOT an aim?
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What role do presentation slides play in the report?
What role do presentation slides play in the report?
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What is implied to be the standard for prepared presentation slides?
What is implied to be the standard for prepared presentation slides?
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What role does data play in formulating business decisions?
What role does data play in formulating business decisions?
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Which of the following best defines the vocational scenario provided?
Which of the following best defines the vocational scenario provided?
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Which aspect is critical for the implications of a business strategy?
Which aspect is critical for the implications of a business strategy?
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Why is the concise structure of the report important?
Why is the concise structure of the report important?
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What is a major focus of business advisory services?
What is a major focus of business advisory services?
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Which outcome is expected when utilizing a supported rationale in decision-making?
Which outcome is expected when utilizing a supported rationale in decision-making?
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Which of the following is a vital component of preparing business documents?
Which of the following is a vital component of preparing business documents?
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What is a key benefit of having concise presentations?
What is a key benefit of having concise presentations?
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What should be prioritized when preparing a business proposal?
What should be prioritized when preparing a business proposal?
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What factors can influence the formulation of a business idea or objective?
What factors can influence the formulation of a business idea or objective?
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Which of the following best describes the purpose of evaluating the current context of a business?
Which of the following best describes the purpose of evaluating the current context of a business?
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Which process involves extracting appropriate data to aid in decision-making?
Which process involves extracting appropriate data to aid in decision-making?
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What does the evaluation of business data involve?
What does the evaluation of business data involve?
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In decision-making, which factors are considered in a specific context?
In decision-making, which factors are considered in a specific context?
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Which of the following is NOT essential for formulating business objectives?
Which of the following is NOT essential for formulating business objectives?
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Why is it important to analyze the current context of a business organization?
Why is it important to analyze the current context of a business organization?
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What is one of the primary outcomes of effective data analysis in a business?
What is one of the primary outcomes of effective data analysis in a business?
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What primary service is Shiro offering to visitors?
What primary service is Shiro offering to visitors?
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How many e-bikes is Shiro able to purchase initially?
How many e-bikes is Shiro able to purchase initially?
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What additional service must Shiro provide alongside the e-bike rentals?
What additional service must Shiro provide alongside the e-bike rentals?
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Where will customers collect their e-bikes?
Where will customers collect their e-bikes?
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What type of maps will Shiro provide to customers?
What type of maps will Shiro provide to customers?
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How can customers book their e-bike rentals?
How can customers book their e-bike rentals?
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What is one of the catering factors for Shiro’s business model?
What is one of the catering factors for Shiro’s business model?
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What additional item will Shiro supply along with the e-bikes?
What additional item will Shiro supply along with the e-bikes?
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What should your presentation primarily include?
What should your presentation primarily include?
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Which factor is crucial in examining business decisions?
Which factor is crucial in examining business decisions?
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What is the purpose of the recommended resources listed?
What is the purpose of the recommended resources listed?
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What is the highest level of learning outcome mentioned?
What is the highest level of learning outcome mentioned?
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What does the A.M1 assessment criterion focus on?
What does the A.M1 assessment criterion focus on?
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Which aspect is NOT a part of Learning aim A?
Which aspect is NOT a part of Learning aim A?
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What should be avoided when making a business recommendation?
What should be avoided when making a business recommendation?
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What is the main criterion to be evaluated in A.D1?
What is the main criterion to be evaluated in A.D1?
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Which of these is an example of a factor that influences business development?
Which of these is an example of a factor that influences business development?
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What characteristic should the speaker notes of your presentation have?
What characteristic should the speaker notes of your presentation have?
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Study Notes
Assignment Brief
- Unit Number: 7-Business Decision Making
- Unit Tutor: Not specified
- Assignment Title: Not specified
- Issue Date: Not specified
- Submission Date: Not specified
- Report Format: Produce a formal report for Shiro recommending a business option. It must have a logical structure, appropriate business terminology, and presentation slides with speaker notes.
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Unit Learning Aims:
- Examine business principles and practices that determine business decisions.
- Review and interpret business data and information.
- Formulate decisions and solutions to business problems.
- Prepare business documents to present business decisions.
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Vocational Scenario/Scenario:
- Shiro, an assistant, needs to advise Shiro (the business owner) on two possible business options.
- Shiro has provided information on options, the market, and the business.
Shiro's Proposed Business
- Business Objective: To start an eco-friendly city tour business.
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Aims/Objectives:
- Promote environmental sustainability.
- Be profitable in year one.
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Market Trends:
- City council is prioritizing eco-friendly transportation.
- Only issuing operating licenses to businesses using eco-friendly vehicles.
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Eco-Friendly Transportation Options:
- Auto-rickshaws (e-rickshaws)
- Electric bicycles (e-bikes)
Market Research (on E-Rickshaws)
- Popularity: Popular in Asia, Central & South America. Commonplace in India and African States.
- Recent Changes: Replaced by E-rickshaws.
- Features: Affordable, covered, small, low noise, and energy efficient, high capacity.
- Use Cases: Suitable for short-distance city tours.
- Current Use: Increased usage in Europe and Indonesia since 2020. India had 1.5 million in 2020.
- Speed/Comfort and Travel Time: 10-15 km/h/34 mile journey.
Market Research (on E-Bikes)
- Popularity: Renting e-bikes for city tours is growing in popularity.
- Use Cases: Suitable for exploring sights, and active eco tour options.
- Benefits: Burning up to 400 calories per hour; Eco-friendly.
- Considerations: Require a bit of skill, but generally considered safe. Damage happens more from vandalism.
- Market Size/Demand: 40 million units globally in 2023; Expected 300 million in circulation by a recent survey.
Business Models
-
Business model 1: E-rickshaw tours
- Purchase of an existing business with suitable customers.
- Storage yard with e-rickshaw charging points.
- Customer booking through website/phone.
- Drivers will pick up customers/guide tours.
- Detailed city maps.
- Refreshments provided.
- Hire previously employed drivers.
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Business model 2: Self-guided e-bike tours
- Purchase of six e-bikes.
- Rent a shop with charging points in a central location.
- Online/in-store booking for e-bike rental.
- Supply of detailed maps with recommended bicycle routes, safety information.
- Employ part-time staff for maintenance.
Costs and Financials
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Option 1: E-rickshaw Tours
- Yearly costs: Rent, wages, insurance, utilities, vehicle maintenance.
- Predicted sales revenue, price per tour, variable costs per tour, daily fixed costs, trade payables, inventory, and cash.
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Option 2: E-bike Tours:
- Yearly costs: Rent, wages, insurance, utilities, vehicle repairs and maintenance.
- Predicted revenue data, price per tour, variable costs per tour, daily fixed costs, trade payables, inventory, and cash.
Assessment Criteria - Report and Presentation
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Pass:
- Examine business principles/practices, explain influencing factors.
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Merit:
- Analyze the factors influencing a business idea, and their relative importance.
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Distinction:
- Evaluate the importance of influencing factors.
Assessment Criteria - Report and Presentation
- The detailed report must examine the two options Shiro is considering, and reference them to the aims and objectives of the proposed business.
- The rationale will highlight: Internal/external factors influencing each business option, the importance of each factor, possible risks, implications of human/physical/financial resources, impact of legislation/regulation, forecasts/ratio analysis, recommended business option.
- The presentation should clearly summarise the analysis and recommendation, supported by reasons.
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Description
This quiz focuses on Unit 7 of Business Decision Making, examining the principles and practices that influence business decisions. Participants will review business data, formulate solutions to problems, and prepare documents for presenting recommendations. The scenario involves advising Shiro, a business owner, on potential business options.
