BUSINESS DECISION MAKING Essay Example | Topics and Well Written Essays - 2750 words

BUSINESS DECISION MAKING - Essay Example The cost of this property is around 30% of prime property in London which can act as trigger for expatriates to invest in Dubai. (Castro, 2009). Similarly other proposed advantages of Dubai and reasons to remove doubts in Canadian and English minds should be gathered from the internet and real estate agents in Dubai. When it comes to gathering primary data, the company should randomly select 20 clients in the UK and Canada and present them with the questionnaire. This questionnaire is specifically designed to find out their preferences when investing. The presentation and the solution to the business problem will then be proposed after analyzing and synchronizing data from the Dubai property market and customer preferences and affordability. This when elaborated means that properties which match customer's tastes and budgets will be selected and then presented to the potential customers. Questionnaire for prospective clients 1) How much money do you plan to invest in Dubai? a) AED 10 0000 b) AED 200000 c) AED 2500000 or more 2) How much initial deposit are you willing to pay? a) 5% b) 10% c) 15% d) 20% or more 3) What is your current annual income? a) AED 200000 or less b) AED 300000 c) AED 400000 or more 4) What percentage of interest on mortgage do you recommend? a) 7.5% b) 9% c) 10% 5) What in your view is the ideal length of the investment term? a) 10 years b) 15 years c) 20 years d) 25 years or more 6) What is your expected annual rate of return from the property? a) 7% b) 10% c) 12% or more 7) What are your basic reasons for buying property in Dubai? a) Retirement/ Investment b) Vacation c) Second home d) Rental income 8) What is the ideal size of property you wish to buy? a) One bedroom studio b) 2 bedroom apartment c) 1 bedroom villa d) 2 bedroom villa or larger 9) Do you have any reservations about investing in Dubai? If yes please elaborate Results of the questionnaires collected from 10 clients. The Questionnaires were distributed to 20 potential clie nts, 10 in Canada and 10 in UK. The results were as follows. 10 out of 20 expatriates were willing to spend AED2000000 whereas 6 chose AED1000000 and 4 chose 2500000 or more. Most that is 8 chose to pay 15% as the down payment whereas 6 wanted to pay 20%. 3 chose 25% and 3 chose 10%. All potential clients had the annual income of AED 400000 or more showing that they had extra money and liquid financing to invest. Almost all unanimously agreed to lowest interest rates of 7.5% but 2 and that too only those who chose lower down payments agreed to 9% interest. The ideal length of the investment term was a tie between 15 and twenty years with 8 votes each. 2 selected 10 years and 2, 25 or more. The expected annual rate of return was 10% by 12 votes showing that prospective buyers knew that the current rate of returns lie between 7 and 10%. 6 chose 12% and 2 chose 9%. The results for the reasons for buying property were extremely variable. Muslim customers wanted property for retirement, vacations and second homes. People from other faith also chose between vacation and investment with vacations being the choice of the majority by getting 5 votes 8 clients wanted a 2 bedroom villa, 6 a 2 bedroom apartment while 4 wanted a larger villa and 2 a one bedroom apartment demonstrating that they