UNIVERSITRY

DEPARTMENT

NAME

MASTER IN XXXXXX MANAGEMENT

REPORT ON DECISION MAKING METHODOLOY

DECISION MAKINGANAYSIS OF SEA FOOD RESTAURANT

SUPERVISOR.NAME

RIGA-2020
Contents
1. ABSTRACT .................................................................................................................................. 3
2. INTRODUCTION ......................................................................................................................... 4
3. BUSINESS EXPANSION MODEL............................................................................................... 5
4. INDIAN RESTAURANT INDUSTRY ANALYSIS ...................................................................... 5
5. MARKET INSIGHTS ................................................................................................................... 6
6. KEY DETERRENTS TO THE GROWTH OF THE MARKET ..................................................... 7
7. SCOPE AND OBJECTIVES ......................................................................................................... 7
8. LIMITATIONS OF THE STUDY ................................................................................................. 7
9. PROBLEMS OF OUR RESTAURANT......................................................................................... 8
1.ONLINE FOOD DELIVERY SERVICES .................................................................................. 8
2. SUPPLY BY ROBOTS AND AUTOMATION BELTS............................................................. 8
3. TRADITIONALAND NUTRITIOUS FOODS MODEL ............................................................ 8
4. FRANCHISEE MODELS.......................................................................................................... 9
10. ALTERNATIVE SOLUTION ..................................................................................................... 9
11. METHODOLOGY .................................................................................................................... 10
12. DECISION ANALYSIS RESULTS........................................................................................... 13
CONCLUSION ............................................................................................................................... 14
REFERENCES................................................................................................................................ 14
1. ABSTRACT

In this paper, one of the multi-criteria models in making decision, a Technique for
Order Preference by means of Similarity to an Ideal Solution (TOPSIS), is defined. Some of
the advantages of TOPSIS strategies are: simplicity, rationality, comprehensibility, proper
computational efficiency and capability to degree the relative performance for every
opportunity in a simple mathematical form. The paper has a evaluation individual. It
systematises the knowledge within the scope of techniques of decision taking with using the
TOPSIS technique. Simple numerical examples that reference actual situations display
sensible programs of different components of this approach. The paper is organized as
follows. The Introduction affords a short overview of the decision making steps as well as
MCDM techniques.

There are different faculties of thought whilst managing selection troubles. MCDM
troubles are categorised into two classes: a couple of goal programming, and more than one
criteria evaluation. The second category is emphasized in our case to attention on the
evaluation problems. The majority of these strategies belong to the 2 foremost faculties of
multi criteria strategies, the American and the European

Among the various compensatory procedures of MCDM, it is feasible to remember a

subgroup that entails prices and advantages factors. One of then is the Technique for Order
Performance by Similarity to Ideal Solution (TOPSIS) approach which was offered in

TOPSIS is rational and comprehensible, the computation strategies are truthful, the
concept permits the pursuit of the pleasant alternatives for each criterion depicted in a easy
mathematical shape; the importance weights are included into the comparison tactics.
2. INTRODUCTION

Ever since the world has existed, human beings have found themselves concerned
in taking selections that difficulty their day by day life. For many years researchers have been
inquisitive about the analysis of ways human beings perform this task.

In this feel, it's miles vital to model the context wherein we're to transport, in any
such way that it simplifies (represents) the actual system, and with the condition that it's
miles without problems understood and is simple to put into effect. Thus, we study the
alternatives that can be chosen, as well as the criteria on which stated alternatives are going to
be evaluated.

which in the beginning sight seems to be simple, paperwork a part of the whole
field this is referred to as Multiple Criteria Decision Making (MCDM)MCDM is a manner
that consists in locating the exceptional alternative amongst a fixed of possible options. A
MCDM hassle with many alternatives
Selecting initiatives is an vital hassle, yet often difficult challenge. It is complex
because there may be usually more than one size for measuring the effect of every challenge
and specially whilst there is more than one selection maker. This paper considers a real utilit y
of undertaking choice for restaurant initiatives with using the opinion of specialists by way of
one of the institution choice making version, it's miles referred to as TOPSIS technique. Four
types of criteria include qualitative, quantitative, terrible and high-quality standards had been
considered for deciding on the excellent one.
3. BUSINESS EXPANSION MODEL

The continental seafood restaurant was located in Kerala our restaurant was established
since one decade but the trend was completely different on those time But when it comes
digital era everything has to be updated accordingly to the contemporary practices that is the
only way to sustain and succeed in businessSo as to update there are some problems to find
which alternatives has to be implemented at first

Because this process requires huge capital and it has be funded periodically without ant
intervals As it is said before to reach someone’s heart the ultimate solution is to serve
delicious food. With good customer experiences And complete updated services to the
consumers keeping this in mind I have decided to undergo the key determinant of quality
food prepared and served, the deliver to keep my community healthy. with updated
technologies

The expansion in restaurant may increase the revenue stream of the company then it can
be the market leader with high amount and sales and consumer preferred restaurant that will
increase the sustainable period of the business and that will hold the business for longer
period but if there is any new best alternatives or new initiatives initiated by the competitors
company that will affect the whole business of our self.

4. INDIAN RESTAURANT INDUSTRY ANALYSIS

The Restaurant Market In India will grow at a steady pace in the coming years. The
eating place market size will develop in addition. The restaurant enterprise in India can be
divided into some of segments depending on what kind of food they provide. Chain meals
services and certified format are the two critical modes of operations for eating places in
India. Restaurant market studies have indicated that the Indian customers are keen on
traditional and continental foods. Growing disposable profits along side increasing proportion
of eliminate food is using the market. A quarter of the population in India eats out at the least
two times in line with month.

Restaurant marketplace evaluation proves that the industry also faces a few limitations.
Licensing in India isn't a completely smooth process in India. Food inflation is every other
persistent trouble which the eating place proprietors should face. Lack of skilled manpower is
some other undertaking. Cost of excessive actual estate decreases the earnings of the owners.
Foreign players at the moment are coming into the Indian marketplace. With their entry
the idea of topic-based eating places and cafes have become popular. There are a few eating
place chains which might be doing very well in India. The local restaurants face a difficult
venture from the chain restaurants. Market access isn't that tough besides for a few strict
guidelines.
 The Restaurant Market In India Report Analyses The Restaurant Market In India Size,
Volume And Growth Rate Based On The Recent Developments In The Restaurant Market In
India At A Global Scale., Recent Restaurant Market In India Trends And Growth
Opportunities During The Forecast Period. Along With This, An In-depth Analysis Of
Advancements In The Restaurant Market In India.

The Report Delivers An Outline Of The sea food restaurant Associated With The
contemporary Market In India And Provides Information About Company Such As decision
making of some alternatives ,

5. MARKET INSIGHTS

The hotel industry in India is expected to reach a value of INR 1,210.87 Bn by the end of
2023, expanding at a compound annual growth rate (CAGR) of ~13% during the 2018-2023
period, owing to the high arrival rate of foreign tourists and business delegates. Market place
potential
Kerala is anticipated to be the leading provider of hospitality services in the country, with
a total of 440 approved hotels. Maharashtra, Gujarat, Rajasthan, and Tamil Nadu are the other
states that make up the list of top five states with regard to hospitality services.
In FY 2019, on an average, 53.6% of the total revenue of Indian hotels came from rooms,
followed by food and beverages, and banquet services. Demand for hotel rooms is high
across the country, owing to increased business-related and leisure travel.
6. KEY DETERRENTS TO THE GROWTH OF THE MARKET

The implementation of the goods and services tax (GST) has helped customers of the
hospitality industry with reduced expenditure, by harmonizing taxes and lowering enterprise
transaction fees. This but, has turned out to be a drawback for lodge proprietors for the reason
that very last price that stop customers undergo has decreased, as a result lowering their
income margins.

The restaurant enterprise in India has witnessed an unheard of transformation with the
entry of a spread of national and global players. This has, in flip, given birth to a huge
demand for certified experts in the zone and all associated industries. Thanks to the
technological revolution, Indian eating place setups have now long past online to advantage
greater customers and serve them higher.

7. SCOPE AND OBJECTIVES

The main objectives of the study are to choose the best alternatives in the market to
adapt the development model in terms of the restaurant Internal and external services to
sustain in the market.
Every business has to innovate the new techniques and solutions to sustain and
compete among the competitors here in our restaurant we also choose some alternatives to
which has to be selected for the near future

The restaurant cannot provide all these facilities to its customers it lacks from the fund
and as well as even the big players in the market cannot adapt to all those models at a single
stretch these services can be provided at a regular intervals but choosing the first best
alternatives is way tougher

So for choosing the best alternatives among all the services we just prepared some
basic oral questions to our consumers we enquired to all other general public also to findout
the best solutions.As per the results of the oral questionnaire we prepared some data table to
represent the solutions and to find out the alternates

8. LIMITATIONS OF THE STUDY

However, the TOPSIS technique gives sure drawbacks. One of the problems as a result
of TOPSIS is that it can purpose the phenomenon called rank reversal. In this phenomenon
the alternatives’ order of preference changes whilst an opportunity is;ljjj brought to or
removed from the choice problem. In some cases this will result in what is called total rank
reversal, in which the order of preferences is definitely inverted, this is to mention, that the
alternative considered the fine, with the inclusion or removal of an alternative from the
technique, then will become the worst. Such a phenomenon in many instances may not be
suitable.

9. PROBLEMS OF OUR RESTAURANT

Multicriteria decision making (MCDM) is a very important research topic. In this

paper, we propose a MCDM method based on the TOPSIS method and

First, the proposed approach calculates the degree of indeterminacy of every

comparing IFV given with the aid of the choice maker. Then, it gets the relative tremendous
ideal answer and the relative poor best solution for the criteria, respectively. Then, it
calculates the degrees of indeterminacy of the relative high-quality best value and the relative
negative ideal price for every criterion, respectively. Then, it calculates the advantageous
similarity stages and the negative similarity ranges between the comparing IFVs and the
relative nice best answers and the relative poor ideal solutions for the standards, respectively.

Finally, it calculates the weighted positive score and the weighted negative rating of
every alternative, respectively, to get the relative degree of closeness of each alternative. The
larger the relative diploma of closeness of the alternative, the better the desire order of the
alternative.

1.ONLINE FOOD DELIVERY SERVICES

Millennial are the priority target market for online food delivery services as they spend the
highest percentage in their budgets on prepared food in comparison to other generations.
With speedy-paced lives, Generation Y is extra apt to devour in quick-provider eating places
and order food delivery. Generational record cites that during 3 out of 5 instances Millennial
order online food

2. SUPPLY BY ROBOTS AND AUTOMATION BELTS

It may also seem futuristic; however robots are finding their manner into foodservice in
a selection of innovative methods. You can now purchase a $6 burger made with the useful
resource of the primary all-in-one burger gadget on the Creator restaurant in San Francisco.
One of the benefits of the use of robots within the kitchen is that repetitive or excessive-risk
obligations may be allotted to machines. Human group of workers individuals have extra time
to perform innovative duties, and the difficult paintings economic financial savings may be
handed onto the patron.

3. TRADITIONALAND NUTRITIOUS FOODS MODEL

While practical Traditional ingredients were all of the rage inside the well being
industry, they have got lately gone mainstream in the restaurant enterprise. Data from nearly
9,000 Up serve customers revealed a 149 percent increase in fermented meals (first rate for
gut fitness) and a ninety nine percentage growth in CBD (a surprise-additive that helps with
the whole lot from infection to tension) on menus in 2018, putting in 2019 because the yr of
purposeful food and drinks.

Functional ingredients which might be certainly found in foods—just like the

intestine-wholesome probiotics in kombucha or calming spinoff in CBD oil—have
consumers interested in recuperation from the inside with every meal.

4. FRANCHISEE MODELS
Compared to other styles of small business ownership, there are good sized
advantages to operating a franchise. Most franchisees routinely enjoy the call recognition of
the emblem they function. Signing on to extend the reach of a employer or idea that already
has a faithful following can permit a franchisee to capitalize on the recognition component
and journey the equal wave of achievement.

Franchising offers hotel owners the following immediately benefits: Identity. A

franchise presents immediate identity and credibility for the motel via a typically recognized
brand, and is perhaps the main reason resort proprietors do not forget a sequence association.
A franchise settlement without delay makes their resorts part of a chain of in addition named
hotels, with all of the blessings of a huge business enterprise. It additionally means that the
hotels follow sure standards and methods of operation hooked up with the aid of the motel
chain, as set out in its operating machine

Franchising Takes Hold Initially, most man or woman motel promoters had been buyers
in properties, and that they ran their inns without franchise assist from both the Indian or
global lodge chains.

10. ALTERNATIVE SOLUTION

Solving MCDM problem using TOPSIS Method

Criteria
Public
Customer feedback Future trends opinions Competitor practice
Customer
delivery 80
0.25 70 0.3
Franchisee
model 35 0.15 25 0.2
Supply by
robots 45 0.25 90 0.1
Traditional
dishes model 40 0.25 115 0.3

New interiors 20 0.15 15 0.1

11. METHODOLOGY
The TOPSIS approach become first developed in 1981 with the aid of Yoon and Hwang
. Its basic concept is that the selected opportunity must have the shortest distance from the
ideal solution and the farthest from the negative-ideal answer
the method of fuzzy TOPSIS is much like the traditional one and can be expressed in a
sequence of steps: Construct the normalized selection matrix. In the fuzzy surroundings, that
allows you to avoid the complicated normalization system used in classical TOPSIS, simpler
formulation are used to transform the various criteria scales into a similar scale.

Construct the weighted normalized decision matrix

Criteria
Publiv
Customer feedback Future trends opinions Competitor practice
Customer
delivery 80
0.25 70 0.3
Franchisee
model 35 0.15 25 0.2
Supply by
robots 45 0.25 90 0.1
Traditional
dishes model 40 0.25 115 0.3

New interiors 20 0.15 15 0.1

Calculate Normalized Matrix

X ij
X ij 
n

normalized matrix
 ij
X 2

i 1
 future public competitor
cus.feedback trends opinion practice
online
delivery 0.741185687 0.518475847 0.425415988 0.612372436
franchisee
model 0.324268738 0.311085508 0.151934281 0.40824829
supply by
robots 0.416916949 0.518475847 0.546963413 0.204124145
traditional
dishes
model 0.370592844 0.518475847 0.698897694 0.612372436
new
interiors 0.185296422 0.311085508 0.091160569 0.204124145

Calculate weighted Normalised Matrix

cus.feedback future trends public opinion competitor practise

online delivery 0.259414991 0.129618962 0.106353997 0.091855865

franchisee model 0.113494058 0.077771377 0.03798357 0.061237244

supply by robots 0.145920932 0.129618962 0.136740853 0.030618622

traditional dishes model 0.129707495 0.129618962 0.174724424 0.091855865

new interiors 0.064853748 0.077771377 0.022790142 0.030618622

Calculate the ideal best and ideal worst value

Calculate the Euclidean distance from the ideal best

0.5
 m 2 
S i   Vij  V j   
 j 1 

Calculate the Euclidean distance from the ideal worst

0.5
 m 
S i   Vij  V j   2

 j 1 

si+ si-
0.206224617 0.115849
0.157129287 0.149871
0.108464925 0.168979
0.004206009 0.215282
0.171820249 0.194561

v+ 0.064853748 0.129618962 0.174724424 0.0918558

v- 0.259414991 0.077771377 0.022790142 0.0306186
 Calculate Performance Score

S i
Pi 
S i  S i

si+ si- pi rank

0.206224617 0.115849 0.805451 1
0.157129287 0.149871 0.369687 4
0.108464925 0.168979 0.525948 3
0.004206009 0.215282 0.590955 2
0.171820249 0.194561 0.177012 5
Rank the preference order. A set of alternatives can now be preference ranked according to
the order The method presupposes

• Each criterion in the decision matrix takes either monotonically increasing or monotonically
decreasing utility.
• A decision matrix of n alternatives and m criteria and a set of weights for the criteria are
required.

• Any outcome which is expressed in a non-numerical way should be quantified through the
appropriate scaling technique.

12. DECISION ANALYSIS RESULTS

The decision has been concluded by using the using Topsis method and the decision has
been put worth in favour of online delivery system and the second rank has been for the
traditional dishes implementation in the hotel and the third rank for the supplying the
customers through automatic chain belts and using robots to supply and the last preferences
ranked for the interior designs and smart lightning to the premises of the restaurant

The excel sheet has been attached for your references

CONCLUSION
With the usage of smart gadgets and an abundance of meals delivery, customers are
annoying greater services with new tech and reviews. Remember that there are manifold
competitions prepared to supply tasty food less luxurious, quicker, and with a higher client
revel in.

In most cases, the selection derives from a techno-financial feasibility and analysis.
Our research proves that the end result must think about extra parameters than technical
feasibility and low creation costs
Here in our restaurant has more confusions to choose the best alternatives which is
available in the market and also by asking some feedback to the people but to choose that one
is quite difficult and fishy but to do the analysis and interpret the solution Topsis method
helped to choose the prime best alternatives to the restaurant that is to choose the online
delivery system at first and other models are secondary

The restaurant has to prefer the online delivery system at first to attract more consumers
by providing offers and discount codes to lead the market This tools helps to choose the best
alternatives available

REFERENCES
1. Chen, C.T. Extensions of the TOPSIS for group decision-making under fuzzy
environment. Fuzzy Sets Syst. 2000, 114, 1–9.
2. Jahanshahloo, G.R.; Lotfi, F.H.; Izadikhah, M. Extension of the TOPSIS method for
decision-making problems with fuzzy data. Appl. Math. Comput. 2006, 181, 1544–1551.

3. Yoon, K.; Hwang, C.L. Multiple Attribute Decision Making: Methods and Applications;
Springer: Berlin/Heidelberg, Germany, 1981.
4. Yoon, K. System Selection by Multiple Attribute Decision Making. Ph.D. Dissertation,
Kansas State University, Manhattan, KS, USA, 1980 .