Business Decision Making Analysis

The assignment delves into the intricacies of business decision-making. It examines theoretical frameworks such as ethical decision-making models, information seeking behavior, and heuristics. Furthermore, it considers the impact of decision environments, BI capabilities, and top management team international orientation on strategic decision-making. The analysis highlights various aspects, including growth phases, survival strategies in international ventures, and the role of data mining and optimization in business intelligence.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1...........................................................................................................................................3
1.2 ..........................................................................................................................................4
1.3...........................................................................................................................................5
TASK.2............................................................................................................................................6
2.1...........................................................................................................................................6
2.2...........................................................................................................................................7
2.3...........................................................................................................................................7
2.4...........................................................................................................................................7
TASK.3 ...........................................................................................................................................9
3.1...........................................................................................................................................9
3.2.........................................................................................................................................11
3.3 Covered in PPT...............................................................................................................12
3.4.........................................................................................................................................12
TASK 4..........................................................................................................................................12
4.1.........................................................................................................................................12
4.2 ........................................................................................................................................13
4.3.........................................................................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
In making the appropriate decisions the employees have to use appropriate skills and
knowledge. Business leaders have to make so many decisions for the betterment of the entity and
it having a influence on the success of firm in the competitive market. Sometime these decisions
which are taken by the business leaders have an impact on the consumers, staff members as well
as in the market also (Barry and Edgman-Levitan, 2012). When the higher authorities make the
decision then they are having a different purpose and according to that they have to manage their
organisational activities which helps in attaining the targets.
TASK 1
1.1
There are distinctive sources which can be used by the employees of TUI Group for
collecting the appropriate data which helps in attaining the goals and objectives. To reap the
good outcomes staff members have to do proper survey. Different methods are:
Primary Data: This source is helpful in collecting the specific research projects and have to
meet the requirements of research projects. Different methods for gathering primary data are:
 Interviews: The employees can meet the different people and take the face to face
interview or by using telephonic calls (Cronan and et. al., 2011).
 Questionnaire: the staff members of TUI Group can set the different questions according
to the information which is to be collected and then it is to be filled by consumers.
 Observation method: In this they should do observation of the particular individual
person and in this information and data to be obtained by the observation way.
 Scheduled Method: This method is also helpful in collecting the methods and it is just
similar to the questionnaire tool. In this scheduled method questions were asked by the
special assigned people. It also assist in resolving the obstacles along with the
misunderstanding which occurs in front of the users (Fassin and Buelens, 2011).
Secondary Data: In this information or data not collected by the user directly as it is a second
hand data so it is collected from the different sources. Tools and techniques for collecting the
secondary data are:

 Internal source: The employees of TUI Group can collect the data by sales reports,
financial statements as well as demographic profile of the consumers. Along with the
reports and feedbacks from service users and dealers.
 External source: It includes the libraries, business journals, internet etc. Along with this
they can gather the information from government departments (Ford and Richardson,
2013).
M1
There are different sources which is helpful in gathering data so that they can attain their
goals and objectives. If they are using primary source then they collect actual and first hand
information by using different methods which include interview, questionnaire and observation
method. Another one is secondary source which assist in collecting second hand information and
methods are online, articles etc.
1.2
Survey methodology is a field which is applied on the statistics which is based on the
human research survey as it helps in studying or analysing the sampling of the individual units
from a grouping. The employees of TUI Group have to use relevant collection technique whether
it is questionnaire, interviews etc. Each and every company have to do regular survey so that
they can collect the accurate information along with the opinions and suggestions from the
different person (Frey, Schulz-Hardt and Stahlberg, 2013). The employees have to make
questionnaire and it includes the different set of questions which helps in identifying the areas
where they have to develop the services. Survey methodology includes personal interview, mail
survey, telephonic interview etc.
Personal interview: It is a face to face survey method which helps in gathering
information when the specific population to be targeted and the purpose of this method is to
explore the responses of the different person.
Mail survey: It is a tool of research and quantitative in nature. This method having a aim
so that they can get the information about the satisfaction of consumer. It is an another way to
collect the data.
Telephonic survey: This method is also helps in collecting or gathering the information
and the employees of TUI Group do the random calls to the respondent person. This includes the
accurate format with a proper time limit (Gabrielsson and Gabrielsson, 2013).

After using these type of tools and techniques then they have to do sample framing in
which they have to analyse the information which are gathered from the different consumers. By
using the process of sampling, the staff members of TUI Group have to select the group of
services users who are taking the services of business entity and they are distinctive from each
other which will succour in collecting information and by using that data they can get best
results.
1.3
This method is included in primary research which helps in collecting or gathering the
information or data (Gigerenzer and Gaissmaier, 2011). This questionnaire is based on 90
consumers of TUI Group and for this the employees have to use random sampling method which
will succour in capturing the information related to consumer satisfaction.
Name:
Age:
Gender:
Q1. Are you using the products and services of TUI Group?
 Yes
 No
Q2. How often do you typically use the services of TUI Group?
 Less than 6 months
 More than 6 months
 Less than 1 year
 More than 1 year
Q3. Are you satisfied with the services of TUI Group?
 Highly satisfied
 Satisfied
 Neither satisfied nor dissatisfied
Q4. Have you ever contacted the consumer service of TUI group?
 Yes
 No
Q5. If you contacted for the consumer services, then all the problems resolved to your

satisfaction?
 Yes
 No
Q6. How much rating do you give for the products and services as well as facilities of TUI
Group?
 10% to 30%
 30% to 60%
 60% to 100%
Q7. On the basis of your experience with the services, do you take the services again?
 Definitely will
 Probably
 Definitely will not
Q8. Any suggestions or opinion for the development of services of TUI Group? If necessary?
TASK.2
2.1
PLACES
CUSTOME
RS %AGE OF CUTOMERS COST (£)
JAPAN 14 15.5555555556 9785
RUSSIA 19 21.1111111111 5563
BRAZIL 21 23.3333333333 6231
INDIA 12 13.3333333333 4563
CHINA 8 8.8888888889 5334
UK 16 17.7777777778 1256
TOTAL 90
MEAN
5455.33333
33333

MEDIAN 5448.5
MODE 993
LOWER RANGE 1256
UPPER RANGE 9785
INTERQUARTILE RANGE 8529
STANDARD DEVIATION
2749.71436
09231
2.2
The above mentioned calculation reflects different tour cost at different locations. In TUI
group conducted a survey where there are almost 90 respondents have been selected. These 90
respondents have shown their interest for different locations (Isik, Jones, and Sidorova, 2013).
Almost 15.55% people out of 90 respondents want to go Japan for spending their quality
vacations. While in Russia, almost 21% respondents wants to go there, majority of the people
wants to spend their vacation in Brazil. But on the other hand, in India approx. 13% respondents
wants to spend their vacations. However, last of the respondents would go with China. But in
United Kingdom, approximately 18% wants to go there.
2.3
Mean: The arthritic mean is usually called “Mean”. This is the average of sequence of
values, or distribution. Although, this gives only average number of whole values. This is
calculated by sum up entire data and then dividing by number of data. Under the given scenario,
the mean is calculated by adding the entire cost and then dividing the number of tour held. Here,
the total cost of different cost= £32732 and the number of tour are 6. hence, the cost arithmetic
mean is £32732/6=5455.33.
Median: This is the middle number of the set of values. Firstly there is need to set
arrange the numbers in a sequence way and then find out the middle number by crossing off the
numbers till come to the middle number (Muindi, 2011). Under this case, the middle value of the
cost is 5448.5. this is calculated as by arranging the cost from lower to the upper value. And then
picking the middle value. So we get the median.

Mode: This is the number which is occur the most. Here, the mode is 993. which
occurred the most.
Range: This is the range where the lowest and highest values have been found. Under the
given case, the upper range is 9785 and the lower range is 1256 have been computed and the
inter-quartile range have been found 8529.
Standard deviation: This is a measurement of how numbers are distributed?. Under the
given case, the standard deviation is 2749.
2.4
PLACES CUSTOMERS
%AGE OF
CUTOMERS COST (£)
JAPAN 14 15.5555555556 9785
RUSSIA 19 21.1111111111 5563
BRAZIL 21 23.3333333333 6231
INDIA 12 13.3333333333 4563
CHINA 8 8.8888888889 5334
UK 16 17.7777777778 1256
TOTAL 90
1st QUARTILE 4563
2nd QUARTILE 5448.5
3RD QURTILE 6231
INTER QUARTILE 1668
25TH PERCNETILE 4755.75
50TH 5448.5
75TH 6064
100TH 9785
CORRELATION
COEFFICIENT
0.00126017
91
Quartiles: The quartiles are the dispersion of scores along a time could be segregated into
quarters. This is called as the quartiles. 1st quartile is the value where 25% of the observations are
less than the 1st quartile and 75% are larger Q1 is like at least 25% of the filtered value are less

than or equal to 1st quartile and at least 75% of the values are more than or equal to 1st quartile.
Here, under the given case, Q1, Q2 and Q3 are 4563, 5448.5 and 6231. while the inter-quartile
range has been calculated and this is the difference between Q3 and Q1. It is 1668.
Percentiles:Quartiles are beneficial and these aids to elaborates the dispersion of values.
Although, there is need to know about how one specific data value compares to the remaining
data. Percentiles are the most perfect for this circumstances (Nielsen and Nielsen, 2011). Under
the cited case, there are four percentiles are calculated which are namely 25th percentiles, 50th
percentiles, 75th percentiles and 100th percentiles which represents the most specific values which
is certainly related to the value.
TASK.3
3.1
JAPAN
RUSSIA
BRAZIL
INDIA
CHINA
UK
0 2000 4000 6000 8000 10000 12000
9785
5563
6231
4563
5334
1256
bar chart
CUSTOMERS
%AGE OF CUTOMERS
COST (£)

1st QUARTILE
INTER QUARTILE
50TH
100TH
MEAN
MODE
UPPER RANGE
STANDARD DEVIATION
0 5000 10000 15000
4563
6231
1668 4755.75
5448.5
6064 9785
0 5455.33
5448.5
993
1256 9785
8529
2749.71
bar chart
Column D

14
19
21
12
8
16
JAPAN
RUSSIA
BRAZIL
INDIA
CHINA
UK
JAPAN RUSSIA BRAZIL INDIA CHINA UK
0
2000
4000
6000
8000
10000
12000
9785
5563 6231
4563
5334
1256
line chart
CUSTOMERS
%AGE OF CUTOMERS
COST (£)

From the above bar chart it has been seen that the TUI group has been made the survey at
different destinations form the 90 respondents and among them, they had selected the locations
where they really wants to go (Provis, 2010). The tour packages also have been prescribed at
various locations. The people who wants to have their tour destinations in United kingdom are
the only 16 customers out of 90. The cost of the package is only £1256, which is most least
expensive as the respondents are form the UK itself. So there would not arise any travelling cost.
They only compensate the cost at their most optimum level. While most of the people wants to
go Brazil, as almost 23% people are form the total one. and the cost of the tour is £6231. While
the 14 people out of 90, and they wants to go Japan and the cost of japan tour is 9785.
3.2
JAPAN
RUSSIA
BRAZIL
INDIA
CHINA
UK
0
2000
4000
6000
8000
10000
12000
9785
5563 6231
4563 5334
1256
CUSTOMERS
%AGE OF CUTOMERS
COST (£)
Linear (COST (£))
This trend line is the visual presentation of aids and resistance in any time frame. This is utilized
to reflects direction and trend of cost, and also elaborates pattern at the time of price contraction.
Basically, there are two divisions of analysis of stock research (Shepherd, 2014). These are
fundamental and the other is technical analysis. Fundamental is implemented to elaborate what to
purchase, while on the other hand, technical analysis is implemented to know when to purchase
it. The key tools is used by the technical analysts is the trend line.

3.3 Covered in PPT
3.4
To,
The Management
TUI Group
Date: 22nd May 2017
Subject: Recommendation for new product development
The purpose of the present report is to provide the proper satisfaction to the consumers. the
employees of TUI Group have to deliver the best and qualitative products and services to their
services users which will help the company in increasing the sales as well as it also succour in
increasing the satisfaction level of the consumers. The managers of the firm have to increase the
distinctive tourist destinations while conducting any tour which also helps in delivering
satisfaction to them. They have to use the appropriate knowledge and skills while providing the
services (Shouzhen and et. al., 2014). The employees have to identify the needs and wants of
consumers and for that they can use primary or secondary data. They on the basis of their
desires, services and facilities should be delivered. They have to use appropriate method to
collect the information that is questionnaire and in this they have to make a set of different
questions and that is to be filled by the different services users. Along with this questionnaire
helps in identifying the problems and issues which are faced by the customers and then the
managers and staff members have to use knowledge and skills for resolving those issues and
according to that TUI Group can attain the goals and objectives. They have to deliver the best
and qualitative services so that they can attain the success in the competitive market and also
assist in maintaining the standard in the market.
TASK 4
4.1
In the market, there are so many tools and techniques which helps in collecting the
appropriate information or data so that they can use that data and improves the products and

services which they are providing to their service users. In attaining or processing the
information there are some stages which are to be included that is input, processing, storage as
well as output. Some information processing tools are:
Database: It is a basic tool which is used by the staff members in processing the
information as well as managing them and store the data in a efficient manner. It is a structured
collection of gathering or collecting the data (Isik, Jones and Sidorova, 2013). Along with this it
helps in retrieving the data or information in a quick manner as it includes all the information
related to product inventory as well as data of consumers which will help them in making the
decisions.
Accounting information system: It is a tools which can be adopt the managers of TUI
group in collecting the information so that they can make relevant decision. It play a important
role in making the internal management decision by offering precise financial accounts and
appropriate statistical reports.
Geographic information system: It is a system of hardware and software so that
employees of firm can store, manage, analyse as well as retrieve the geographic information.
Management information system: It is said to be as data which is based on computer and it
includes the appropriate and important information which helps in making correct decision.
Decision support system: This tool is also used by the firm and also provides the
assistance to the strategic administration of business entity.
Office automation system: This tool helps the firm in transferring the important and
essential data so that they can maintain their administration level so that they can make
appropriate process in making correct decision.
These are the tools and techniques which can be used by the employees of TUI Group in
collecting the information or data and by using that information they can make the appropriate
decisions for the betterment of the firm (Zimmerman and Yahya-Zadeh, 2011).
D2
There are different tools which can be used by the firm to collect or gather the accurate
information so that they can make correct decision by using appropriate process. There are
different activities which they have to plan, organised as well as managed while preparing the
project plan. They have to collect information by using different tools which includes

management information system as well as decision support system so that targets can be
attained.
4.2
The employees of TUI Group have to make proper project plan which is a formal
document by the appropriate designing. The manager of the firm have to provide proper
guidance so that they can provide better products and services to their consumers. Along with
this it also helps in putting proper control and execution of project. For launching any new
product, the manager of TUI Group have to make effective plan which is necessary to attain the
success. All the activities should be done in a proper manner and also by the proper time
management (Barry and Edgman-Levitan, 2012). Project plan includes all the information
related to the launching of new product that is what is this project about, how much time it takes
to complete etc. By using the correct and appropriate values, critical path management for the
new product is:
Critical path analysis is a necessary as well as important tool which helps in identifying
the specific time which is to be taken to complete the whole task (Tzeng and Huang, 2011).
Along with this it also aid in managing or reducing the workload and administer the number of
days for the working (Cronan and et. al., 2011). It also determines the limited as well as less time
period which is to be taken in launching the new product.

In this there are some possible path which is drawn or calculated from the network diagram:
Critical path is the shortest path by which the project will be completed will be determined in
following manner.
PATH A: 1+3+8+9+11+12 = 19 days
PATH B: 1+3+8+10+11+12 = 18 days
PATH C:1+5+8+9+11+12 = 23 days
PATH D: 4+6+8+9+11+12 = 21 days
PATH E: 4+6+8+10+11+12 = 20 days
PATH F: 4+7+11+12 = 14 days
Critical path is used or adopt on the basis of above network diagram and it should be
divided into three parts and from the calculation appropriate path should be opt so that they can
complete the work in a specific time that is F which takes less time that is 14 days so that they
can attain best results. Rest of the paths are taking more time to complete work from second one.
4.3
year Profits in (€) p.v@8% PV
0 -380000 1 -380000
1 165323 0.8573388203
141737.8257887
52
2 169936 0.793832241
134900.6757100
04
3 178426 0.7350298528
131148.4365150
6
4 217353 0.680583197
147926.7996248
77
5 274536 0.6301696269
173004.2486859
8
6 313647 0.5834903953
183010.0120027
82
NPV
531727.9983274
55

IRR 30.57%
In the given, situation, the cost of the underlying venture is €380000. TUI's benefits is
enough to get over the underlying expense at 8% interest rate. The TUI net present value is
531727. which demonstrates that the net present value is certain that is the reason organization
ought to obtain this project because of the positive NPV. The organization's NPV is the point by
deducting the firm present estimation of inflow from the present estimation of money outflow.
While, then again, inside rate of return is the point where the present estimation of money surge
is equivalent to the present estimation of money inflow. This demonstrates the interest rate
where the organization can recoup their entire out flow (Vercellis, 2011). Essentially, this is
computed by experimentation strategies. IRR is the point where where the net present esteem
appears at 0, and this is calculated by trail and error methods.
Cost volume profit analysis is utilized to get to know the break even point of cost and
volume of products and this could help for administrators for fixing short term decisions for the
firm. This examination helps for making different presumptions with a specific end goal to be
same covering that the per unit sales price, variable cost and fixed cost.
CONCLUSION
From the above report, it has been shown that the for making effective decisions, there is
a need to have the survey of the area where the firm wants to get their objectives on a time
frame. If business entity wants to attain the success in the market then decision of them play a
important role. The present report is based on TUI Group which is a UK based outbound tour
operator and have to provide the proper advice of the development of product. In the below
mentioned report, discussion based on analysis which can be used by primary and secondary
source.

REFERENCES
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Online

Net Present Value- NPV.2017. [Online]. Available through;
<http://www.investopedia.com/terms/n/npv.asp>. Accessed on 22nd May 2017.