Business Decision Making Report: Thomas Cook Group Analysis

This report delves into the intricacies of business decision-making, focusing on the development of a new product for the Thomas Cook Group. It begins with an introduction to the importance of decision-making in organizational effectiveness, outlining the need for forecasting and planning based on performance analysis. The report details data collection methods, including primary and secondary sources, and presents a sample questionnaire used to gather customer feedback on travel and accommodation services. It then summarizes raw data, calculating measures of central tendency like mean, median, and mode, alongside standard deviation and correlation to assess customer satisfaction and revenue generation. Graphical presentations are utilized to visualize collected information and trend lines are employed for forecasting. Furthermore, the report constructs a business plan based on the analysis and findings, incorporating investment appraisal tools such as NPV and IRR to select appropriate projects. The report concludes by synthesizing the key insights and offering recommendations for strategic decision-making within the Thomas Cook Group, ultimately providing a comprehensive overview of the decision-making process from data gathering to implementation.

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Plan for data collection..........................................................................................................1
1.2 Data collection methods........................................................................................................2
1.3 Questionnaire to carry out survey.........................................................................................3
TASK 2............................................................................................................................................5
2.1 Information summarizes raw data collection........................................................................5
2.2 Result for decision making....................................................................................................5
2.3 Standard deviation for new tour product development.........................................................6
2.4 Quattiles, correlation and coefficient for decision making...................................................7
TASK 3............................................................................................................................................7
3.1 Graphical presentation based on collected information........................................................7
3.2 Trend line for forecasting....................................................................................................10
3.3 Business plan on analysis and findings...............................................................................11
3.4 Business report....................................................................................................................12
TASK 4..........................................................................................................................................12
4.1 Information processing tools...............................................................................................12
4.2 Project plan for an activity to determine critical path.........................................................13
4.3 Investment appraisal tools...................................................................................................14
CONCLUSION..............................................................................................................................16
REFERENCE.................................................................................................................................17

Illustration Index
Illustration 1: Information summarizes on customers' views..........................................................5
Illustration 2: Revenue of organization for providing services to other countries' people..............6
Illustration 3: Standard deviation ....................................................................................................7
Illustration 4: Quartiles....................................................................................................................7
Illustration 5: NPV to choose appropriate project for new product development.........................15
Illustration 6: IRR for selecting best project..................................................................................15
Illustration 7: project evaluation method.......................................................................................16

INTRODUCTION
Business decision making is essential to preparing plans and making decisions regarding
organization's effectiveness and its operations. It includes forecasting and planning for further
years' operations on the basis of analysing organization's current performance. The present report
is based on understanding different aspects of decision making for developing new product for
Thomas Cook Group. In this regard, different data collection methods and systematic survey is
to be described to recognize performance of entity. Including this, information summarizes on
raw data collecting including mean, median, mode, standard deviation and correlation can be
expressed through this assignment. However, several decision making tools for innovations can
be introduced that involves data analysis. Along with this, business plan and forecasting as well
investment appraisal techniques to select appropriate project is to be explained for
implementation. Thus, students are able to acquire knowledge regarding decision making for
organization to implement accommodation services through this report.
TASK 1
1.1 Plan for data collection
As per the given case scenario, Thomas Cook is going to develop new product as
innovation in for tourists of different countries worldwide. Therefore, it plans to collect data to
analyse actual performance of tourism so various ideas can be created for decision making
process (Popovič and et.al., 2012). In accordance to this, several information are to be gained
such as; consumer profile, preference, attitude and their attitude towards services provided by
entity. On behalf of this, decisions can be made for further years. Therefore, information related
to facilities provided by tourist can be expressed as follows:-
Primary data collection:- Information at primary level are gathered through conducting
survey, face to face interview, door to door asking questions and so on. Therefore, actual
position of organization and its services is gained. In accordance to this, further decisions can be
made to implement strategies that is helpful for organization's effectiveness and improving better
quality services (Craft, 2013).
Secondary data collection:- Under this data collection method, information are gained
through ready and prepared materials like newspaper, magazine, performance evaluation of
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organization. Thus, decisions for business operations in future time can be made effectively
through analysing last years' performances.
Thus, data can be collected through above mentioned methods for decision making
process (Isik, Jones and Sidorova, 2013). However, it is needed to create plan for innovations
including data related to following tools:-
Data required Plan
Consumer attitude and perception towards
services provided by Thomas Cook (Thomas
Cook, 2016).
It will be conducted through conducting market
research.
Buying behaviour and consumer preferences It can be gained through analysing tourists'
behaviour including different systems and
beliefs they follow.
Competitive products By comparing Thomas Cook's performance
with other tour operators, different ideas can
be generated for further decision making.
Data analysis and decision making After collecting and identifying customers'
views on services provided by organization,
further decisions can be made for expansion of
entity and developing new product as
implementation in accommodation services of
entity.
1.2 Data collection methods
Information are gathered through primary and secondary data collection methods that
present Thomas Cook's performance. However, data are collected through conducting survey
and asking questions to people regarding travelling and accommodation service provided by
Thomas Cook (Mulley and et.al., 2013). In this regard, sampling and survey method including
qualitative as well quantitative research techniques can be explained as follows:-
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 Survey and sampling:- Research is conducted through this method by selecting
respondents to analyse their views on organization's services. It can be done through
different methods like random, cluster, snowball sampling and so on. For conducting this
kind of research, analyst asks question to selected 90 respondents from different
countries of the world. Therefore, actual position of organization and its product services
are gained through this process (Mackie, Worsley and Eliasson, 2014). For the present
research, analyst selects customers to identify their views as well making decisions for
entity's effectiveness. He selects respondents randomly and further asks question related
to services provided by Thomas Cook.
 Qualitative research:- Under this research method, analysis of customers' views,
opinions is gained that proceed to make further decisions. In accordance to this, decisions
are made related to better quality services and satisfying them at large scale (Harris and
et.al., 2016).
 Quantitative research method:- In this research method, analyst asks question to
selected respondents and further counts answers collected in majority. On behalf of this,
further strategies are to be prepared for implementing services of Thomas Cook
enterprise.
1.3 Questionnaire to carry out survey
Researcher asks question related to travelling and accommodation services provided by
Thomas Cook. For conducting research, he selects 90 respondents randomly through preparing
questionnaire consists a list of questions (Martinsuo, 2013). In this regard, he asks following
questions to gain respondents' views on quality services thereby further decisions can made:-
Name:
Q.1 In which of the following age group you are belong to?
 18-24
 25-32
 33-50
 Above 50
3

Q. 2 How about travelling services provided by Thomas Cook?
 Satisfied
 Effective
 Unsatisfied
 Ineffective
Q. 3 How frequently you travel by this tour operator?
 Once in a month
 In 2-3 months
 Once in a year
 Rarely
Q. 4 Which of the following service of organization attracts you at most?
 Travelling services
 Accommodation facilities
 Customer dealing services
Q. 5 Comment on time consuming of organization regarding travelling services of Thomas
Cook.
 Effective
 Provide services in proper time
 Takes too much time
Q. 6 How about tourist guide and workers' dealing services for tourists?
 Attractive
 Satisfied
 Unsatisfied
 Ineffective
4

Q. 7 In which of the following services of Thomas Cook requires to be improved?
 Travelling services
 Accommodation facilities
 Dealing with tourists.
TASK 2
2.1 Information summarizes raw data collection
 Mean- It is measure of central tendency, average which is calculated by adding all the
digits of variable and then divide by the digits of digits. It useful tool for Thomas Cook to
survey. It is generally used in business when annually hours are calculated of one small
group and one complete group (Chiou and Wang, 2016).
 Mode- It contains discrete and continuous numbers. It is discrete probability distribution.
Value obtained when no digit in the list is repeated. In business, it is basically used to
check most often activities, examining prices at which generally sales occur.
 Median- It is basically the middle value of data. In order to find median digits should be
written in ascending to descending order (Welborn, Lester and Parnell, 2015). In
company this is basically used to evaluating average salaries paid.
2.2 Result for decision making
Customers views:- It is observed that almost selected respondents are satisfied with
services provided by Thomas Cook at most. In this regard, positive views are gained that it
enhances effectiveness of organization that is useful for its long term sustainability (Simmons,
2014). On the basis of this gathered information, it can be forecast that in future time entity can
implement strategies regarding improvement in accommodation services.
5
Illustration 1: Information summarizes on customers' views

However, it is recognized that tourists are satisfied with tour operator's performances as
well suggest to create innovations through developing new products. By conducting this survey,
it is evaluated that on average 75 out of 90 respondents are attracted towards tourism services.
However, median value on tourism services is 4 and 5 at most which presents good performance
of organization as well satisfied services. Including this, mode as gained answer in frequency is 4
and 5 that shows good quality services of entity. Thus, it can be forecast that in future time,
organization can make decisions regarding accommodation services for its effectiveness.
Thomas Cook revenue for providing services to other countries' people:- In this
process, Thomas Cook own analyses its performance through evaluating mean, median and
mode on gaining revenue for providing services to different countries' people. In this regard,
organization's performance is gained thereby further decisions can be made to services and
developing new product in future time(Burke, 2013). Therefore, entity's financial position for
travelling and accommodation services to several nations' people can be expressed as below:-
According to data interpretation, it is evaluated that destination in Asia has done at large
scale on average 352. Organization gained revenue by providing tourism services with Asia at
most. Including this, services for Southern European and North America is also at average on
265 and 141 respectively. In this regard, median on tourism services for Asia, Southern Europe
and North America is quite high that is considered as basis for further implementation.
Therefore, organization has earned effective through providing destination services to Asia and
Southern Europe people.
6
Illustration 2: Revenue of organization for providing services to other countries'
people

2.3 Standard deviation for new tour product development
Standard deviation is a technique to analyse variance between actual and standard data. In
this regard, standard deviation for Thomas Cook is calculated as follows:-
Interpretation:- It is evaluated that there is an ideal standard deviation is obtained on
customers' views regarding tourism services. However, tourists from different countries of the
world are satisfied with travelling and customer dealing services of Thomas Cook. At most,
there is adequate standard deviation calculated that performs organization's effectiveness. Thus,
by fulfilling this variance, entity can improve its quality services at higher level.
2.4 Quattiles, correlation and coefficient for decision making
Interpretation:- In this data interpretation, collected information are divided into three
quartiles as Q1, Q2 and Q3. These are evaluated at different percentages as 25%, 50% and 75%.
Therefore, all gained information are segmented three segments that presents actual performance
of Thomas Cook in parts. As per this data interpretation, it can be forecast that in future time,
organization can work out on its implementation as well for better quality services effectively.
TASK 3
3.1 Graphical presentation based on collected information
Thematic analysis
1)Satisfaction with travelling services of Thomas Cook
Satisfied 40
Effective 30
7
Illustration 4: Quartiles

Unsatisfied 10
Ineffective 10
Interpretation:- analyst asks about satisfaction level of respondents with tourism
services provided by Thomas Cook. It is interpreted that 40 out of 90 respondents are attracted
and gives positive views on tourism services. On behalf of this satisfactory level, it can be
forecast that entity can work out for further implementation to maintain tourists' attraction in all
over the world.
2) Frequency to taking advantage of travelling services of Thomas Cook
Once in a month 45
In 2-3 months 20
Once in a year 10
Rarely 15
8
Satisfied Effective Unsatisfied Ineffective
0
5
10
15
20
25
30
35
40
45
Column C

Interpretation:- Through this research question, efficiency and tourists' attraction
towards tourism services is identified. In which, it is gained that 50% respondents visit to
Thomas Cook also influences entity's good reputation. Including this, customers express their
views that all countries' tourists mostly demand for travelling services of organization at high
level. Therefore, in future, demand for tourism services will be enhanced also entity will be
succeed to create innovations.
3) The most attractive service of Thomas Cook
Travelling services 50
Accommodation facilities 15
Customer dealing 25
Interpretation:- Through this research questioning, rank on different services provided
by Thomas Cook is gained. In which, analyst gives different options of services like travelling,
accommodation and customer dealing services. However, above 50% expressed their views that
they are attracted towards travelling services at high level. Including this, it is gained that
9
Once in a month In 2-3 months Once in a year Rarely
0
5
10
15
20
25
30
35
40
45
50
Column C