Process of Designing a Decision Matrix - Coursework Example

Topic Name Lecturer Date Executive Summary In view of Cox (2003), coming up with a decision on the holiday destination has been a common challenge among many people. This is so as a result of the number of options that an individual might be faced with. The individual might as well find it challenging to decide on the specific activity that they want to carry out during the holiday, which in cases presents itself with multiple activities which a single destination might not meet. However, the decision matrix gas in great way helped people in the process of decision making. This paper looks at the process of designing a decision matrix and how to evaluate the most likely decision an individual is likely to make, the weaknesses of the matrix and the possible causes of the lack of accurateness of the decision matrix. Table of Contents Executive Summary 2 Introduction 4 The 6 holiday options presented to 3 people to choose from 4 Holiday Options Decision Survey for 3 People 5 Application of compensatory decision rule 8 Analysis of Personal Characteristics leading to holiday choices 8 Conclusion 11 References 11 Introduction Most people definitely would love to take some time during their holidays season, just to get away from their routine lifestyle; could be work or studies, in order to have fun and enough rest, get to learn new things, partake their favourite hobbies and sports, and take exotic dishes (New Zealand, 2007). All this is a bid to break the monotony that comes with a regular daily course of life that one spends. It therefore implies that if one is to go on vacation, they need to consider a number of determining factors. Where to spend the vacation, what to do during the holiday, determining whether the holiday package is affordable and secure are vital factors that greatly impact the success or failure of achieving one’s desire for going for a vacation (Richards, 2005). This essay discusses the holiday destinations for three individuals from a list of six, and analytically looks at the different evaluative factors that the individuals need to consider before settling on a given holiday option and the probable factors that influence their choice of holiday. The 6 holiday options presented to 3 people to choose from The destinations for a holiday are likely to vary from one person to the other (Harrington, 2008). However, when we hear of a holiday destination, certain places come into our minds instantly. The list below gives the common destinations that people would consider on average. A one month stay at home, tending after the flower beds, or even learning how to play a given sport seems the best way to spend their holiday on their favourite drinks sounds a perfect idea of a holiday well spent. A five day visit to the Lanikai Beach in Hawaii, basking on the sun and enjoying the fine and cool breezes while absorbing the serene and beautiful scenery of the beach and sipping at drinks is just fine for a holiday. A week spent in the Bahamas with a family, getting to bond even further, taking into account the gap left void due to the different things family members do, is my choice for a holiday. To some people, taking three days off with their love partners in the Caribbean, having fun times under the warmth of the sun and learning their partners even better would fulfill their holiday dream. For the adventurous, a one week to Africa for mountain Climbing in a country known as Kenya would satisfy and cure their curiosity for adventure. Lastly, taking a classy vacation in a get it all and self contained cruise ship for five days on the deep waters of the Indian Ocean would certainly match their definition of a vacation. Holiday Options Decision Survey for 3 People In order to come up with a comprehensive decision matrix, then the evaluative criteria for choosing on a given holiday option has to be developed. The individuals have to consider such factor as the financial cost of the holiday, the amount of time required in spending ones holiday, the safety guaranteed to the life of the individual, the activities that one is likely to get involved in, the weather conditions of the place to spend the holiday as well as the accommodation facilities.   weighted decision               holiday options home Lanikai Bahamas Caribbean Kenya Indian Ocean Factors Rank             Cost 5             Time required 3             Safety 2             Activities 5             Weather 1             Accommodation 4             Table 1 The evaluative criteria range up to a total of hundred points in the selection of the holiday option. My importance point for given destination for the holiday is summarized in table 2.   weighted decision  73  71  68  77 63   53   holiday options home Lanikai Bahamas Caribbean Kenya Indian Ocean Factors Rank             Cost 5  2 4   4  3  2  2 Time required 3  5  2  4  2  4  5 Safety 2  1  1  1  4  3  5 Activities 5  5  3  3  5  2  1 Weather 1  1  2  4  3  5  5 Accommodation 4  5  5  4  5  5  2 Table 2 Using the compensatory decision rule, I am likely to take my vacation to the Caribbean, since it has the highest importance score. Table 3 shows my first correspondents decision matrix.   weighted decision  67  41  51  56  60  66   holiday options home Lanikai Bahamas Caribbean Kenya Indian Ocean Factors Rank             Cost 5  5 2  4  3  1  4  Time required 3  1  5  5  3  3  2 Safety 2  3  1 3   1 5   5 Activities 5  3  2  1  2  5  3 Weather 1  2  5  1  5  3  3 Accommodation 4  4 3   1 4   2 3                  Table 3 The first respondent has a high probability of not travelling but opting to stay at home as his importance is at 67. Table 4 shows the decision matrix for the second respondent and his ranking of the given factors which help in the calculation of the option he is likely to choose.   weighted decision  62  56  39  56  73  37   holiday options home Lanikai Bahamas Caribbean Kenya Indian Ocean Factors Rank             Cost 5  3  3 1   1 4   2 Time required 3  5  1  5  5  2  1 Safety 2  1  2  3  3  5  5 Activities 5  5  2  1  3  3  1 Weather 1  1  4  4  3  2  5 Accommodation 4 1   5  1 3   5 1                  Table 4 Application of compensatory decision rule The compensatory decision rule calculation reveals that the second respondent is likely to spend the holiday in Kenya, as this option is highest in terms of the importance ranking or the weighted decision, above the rest of the options. However, if I was to choose the options randomly without the help of the decision matrix, the order of preference, starting with the one preferred to the others would be; home, Caribbean, Bahamas, Indian Ocean, Lanikai Beach and then Kenya. The second respondent revealed that he would prefer to go Kenya, then Caribbean, Indian Ocean, Home, Lanikai Beach and lastly the Bahamas, while the second respondent showed the greatest desire to visit the Bahamas, then Kenya, Caribbean, Home, the Indian Ocean and then Lanikai Beach. This shows that the decision matrix does not really present the actual desire of people as far as decision making goes. The matrix gives the logical evaluation of the factors affecting ones decision making, although it does not give the actual wish of an individual. Analysis of Personal Characteristics leading to holiday choices The vast choices made by me and the respondents depend on a number of factors, which have been generally categorized into two. Factors relating to demographics include the gender, income, ethnicity, marriage status and the number of decisions the individual is to choose from (KöKsalan et al., 2011). Under the category of personality of the individual, with the basis of the argument on decision making with regard to the personality being the outward and visible personality traits, without necessary scrutiny of the personality traits detected. According to Axelrod (2008), an individual with a lower income is likely to consider the cost of going on a holiday. The individual consider the cost of booking a holiday package as the most important factor. The individual has to take into account his income in the decision making relating to the package and the place to spend the holiday. The individual is likely to consider the cost of transportation to the desired destination. The coast of securing accommodation as well is considered. The individuals who have sufficient income do not really recognize the cost of a holiday package as being an important factor. They are likely to treat cost with little attention, and consider other factors seriously. In Holiday in Western Australia, however, it should be noted that the respondents, since they have varying incomes, they did not make similar considerations to the cost of the options given, including the cost of transportation. The gender of the individual has great impact on the decision made in deciding on the option of the destination. Given genders are likely to oppose the idea of spending their vacation various destinations (Fitzgerald, 2002). For instance, the female gender generally does not like spending vacations in which tedious physical exercise is involved. For instance, I did not prefer spending the vacation in Kenya to enjoy mountain climbing, since the activity is so tedious and tiring, thus I rated it at a point of 2. However, males, who tend to be physically fit and strong on average, would not mind spending their vacations in the destinations in which the activities involved are more physical (Hester, 2012). The second respondent rated the activities that are likely to be carried out during the vacation in Kenya a ranking of 5 since he is a male, who is physical and strong. Evans & Burdet (2011) argue that the age of the person making decisions regarding the choice of the destination of their holiday has significant impact on the choice made. They are likely to prefer a less distant place and a destination in which they are not likely to undertake strenuous activities due to their old age. Tiredness comes with the old age, thus they are likely to get tired very fast and even enhance their old age sicknesses. On the contrary, the young individuals are most likely to make a choice that is far away and involving a lot of exercise, as they are energetic and strong (Zandonella, 2010). The first respondent, being young, chooses on the option of spending the holiday in Kenya and undertake mountain climbing. Marital status of the individual to choose the option greatly affects the choice made as the individual has to take into consideration the cost of moving to a destination with the whole family (Goodall & Ashworth, 2013 & Herremans, 2006). Cases in sustainable tourism: an experiential approach to making decisions. New York, Haworth Hospitality Press.). The individual has to move with the spouse and their children. For a family that needs to bond further and strengthen their family ties, Bahamas proved a nice option, though other factors such the time available did also affect the ability of moving to the Bahamas. However, for those who could not meet the expenses of going for a holiday out, they were likely to spend the holiday in the comfort of their homes, where the cost is averagely low. Closely related to the marital status of the individual is the need to go on holiday for romance. The individual is likely to out with their partner. From the matrix, the individuals who wished to go on holiday for romance did rate highly the factors that determine their selection of Caribbean as their holiday destination. Apart from demographics, the personality of the individual greatly does affect their choice of the option made. The individuals who seem more adventurous are more likely to identify with the holiday options that are likely to meet their curiosity in adventure. The respondents who are adventurous ranked the factors that promote their importance in favor of Kenya, which involves mountain climbing, an adventurous undertaking. Persons who seem to enjoy solace were likely to choose on the options that would guarantee their meeting a limited number of people as possible (Decrop, 2006). The desire to be alone prompts the individual to choose on such an option as home so that they are likely to meet the least number of people. However, the extroverts choose other options which would increase the probability of meeting more people and interacting with them. For instance, I would probably travel the Caribbean where I am likely to meet a huge number of people to socialize with. Conclusion In conclusion, the individuals do make decisions based on a number of factors. Other people may have problems when it comes to making decisions, so that they may seek the help of others in making decisions. However, with a better analysis of the given factors that relate to a choice to be made, with the help of a constructed decision matrix, an individual is likely to make better decisions which match their expectations. The decision matrix however does present an incorrect picture as the individuals make different options from the ones that are predicted from the decision matrix. 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