The business decision plan is related to setting up a chain of coaching college in the local government areas in the Australia. The aim of these colleges is to coach the students in the years among 7-12. The decision plan prepares in order to maximize the final score of the students in the year 12 exams. In order to successfully implement the decision business plan that the investors need to ensure for the chosen regions that will support the business over the next 10 years. The report prepares for the development and explanation of the decision criteria of the setting up chain of the coaching college.
Development and explanation of the business decision plan
The business decision plan is related to the setting up a chain of coaching college in the Australian local area. For the development of the business decision plan, there are some minimum criteria that will have to see by the investor before investing in the coaching college, which can be described as below-
For this business decision plan, the investor will have to generate a group that is based on the innovative information criteria related to the area. The business also generates the key performance criteria to evaluate the performance of the students.
Local Government area in Australia Chosen for the Business decision support Plan
For the business decision support plan, we have selected two local government areas one is Sydney and other is Wanneroo as per the highest child population. On the other hand, the area will be selected on the basis of social, demographical and economical characteristics of the adults as well as the children.
Research Method
The research method is a process that is used to collect information and data to make the business decision. There are two types of data collection method i.e. primary data collection and secondary data collection. With the help of primary research, the investor and business operator will collect the information related to the children population through the survey and questionnaire (Brennen, 2012). I have also collected the information related to the other coaching colleges that are already running in the local government area. On the other hand, we have also collect historical data related to the household’s income and population from the Australian Bureau of Statistics.
Statistical information for the chosen business decision plan
As per the above statistical information of Sydney and Australia children population between the age group of 0 to 14 is 18.7 in Sydney and 18.6 in the Australia. On the other hand, in June 2014 the population of the Greater Sydney was 4.8 million people that were represented 64% of the total NSW population. In June 2016 total number of children was 58900 that were increased as compare to the total number of children in 2015 (52800) (ABS, 2016). On the other hand, annual income range of the households in Sydney was distributed according to the 3 criteria i.e. very low, low and moderate. The table of the Sydney region household type income level can be as below-
From the above table, it can be identified that annual income range (Sydney) 2016-17 at very low-income bands is $42,300, low-income bands $67600 and moderate income range is $101,400.
Statistical information of Wanneroo
As per the above graph, the population statistical graph of children population between the age 5-11 was growing in 2016 as compare to 2011. In 2011, there are 12,354 couples that have young children that comprised 24% of households (ABS, 2016). In addition to this, households with the children will require various facilities and services that will be needed by both adults as well as children.
In the city of Wanneroo is the indicator of socioeconomic status, and the medium and highest income was the largest group in the year 2011. In addition to this, around 28% people of the population aged over the 15 years.
Decision made for the business situation
The investor of the starting up of the coaching college is a logical and mathematical concept by which the group will able to meet the minimum criteria that were described above. There are various situation faced by the business group that will require to make many business decision which can be described as below-
Decision making under certainty
The group investor of business face some problem where the group wants to get full information so that they will know all facts and figures related the state of nature which will be a consequence for the future decision (Kamberg, 2011). Along with this, it is easy for the investor to take the decision in a certain situation because the group only follows the strategy to take the decision about the population of children and adults, income level of the people and no of students.
Decision making under risk
For a startup business, the state of nature is uncertain but it is based on the objective and empirical evidence. In this situation, the group should take the decision as per the historical data and the past experience by which group of investor will able to demonstrate the situation in Sydney as well as Wanneroo.
Decision Making Under Uncertainty
This situation is raised for the group when the uncertain condition taking place and the group do not have knowledge related to the objective and the state of nature (Vastag, 2015). The situation will arise at the time of absence of historical data. The decision before to start the first coaching class, I and my group of investor take the decision related to the other coaching college that is already running in the local government area in Australia.
Decision making under the partial information
There is some situation faced by the investor under the partial information of the population and income level in Sydney and Wanneroo. In addition to this, this decision may be taken by the group in the situation of risk as well as the situation of uncertainty (Lohmann et al., 2014). With the help of this decision, the investor handles the situation at the first startup of coaching college for the 7-12 years age group children.
Reflective Statement on the Group process
I and a group of investor are interested in setting up a chain of coaching colleges in the number of local government area in Australia. In addition to this, I have selected the Sydney and Wanneroo local government areas, where I want to start my coaching college to coach the students in years 7 to 12 with the aim to maximize the final score of the students in year 12 exams. The areas that I have selected for the business decision will support my coaching over the next 10 years.
Along with this, I and my group were working to fulfill some criteria that are enough adults whose have their children within the age range of 7-12 years, adults have funds to pay coaching fee and enough children in the coaching age group. Further to this, the group has collected the data with the help of primary as well and secondary data collection method. Under the primary data collection method, we have been collected data related to the children population and other coaching institute in the selected area from the population with the help of survey with questionnaire.
On the other hand, we have been collected data with the secondary data collection through the official government sites related to the aging population and household’s income level. At the end, my group has been taken some decision related to the different business situation i.e uncertainty, certainty, risk and partial information. With the help of these decisions, my group will aware towards the problem that will face in future.
Conclusion
From the above discussion, it can be concluded that Sydney and Wanneroo is the largest city according to the population level of children. It was identified that the local area meet the requirements of enough adults, who have the 7-12 years age group children, and the income level of adults by which they have to pay funds for coaching college. It is described that the decision that has been made before starting of the first coaching college helped group in the situation of partial information, uncertainty, and certainty and under risk.
Reference
NSW (2016) Household median incomes 2016-17. [Online]. Available at: https://www.housing.nsw.gov.au/centre-for-affordable-housing/for-managers-of-affordable-housing/household-median-incomes-2016-17 (Accessed: 21 April 2017).
ABS (2016) Population By Age And Sex, Australia, States And Territories. [Online]. Available at: https://www.abs.gov.au/ausstats/[email protected]/0/1CD2B1952AFC5E7ACA257298000F2E76?OpenDocument (Accessed: 21 April 2017).
Id.com (2017) Individual income quartiles. [Online]. Available at: https://profile.id.com.au/wa Qualitative Research Methods for Media Studies
nneroo/individual-income-quartiles (Accessed: 21 April 2017).
Brennen, B. (2012) Qualitative Research Methods for Media Studies. UK: Routledge.
Kamberg, M.L. (2011) How Business Decisions Are Made. New York: The Rosen Publishing Group.
Vastag, G. (2015) Research in the Decision Sciences for Global Business. Australia: Pearson Education.
Lohmann, N., Song, M. and Wohed, P. (2014) Business Process Management Workshops. Germany: Springer.
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