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business
management in the hospitality industry

Questions and Answers of Management In The Hospitality Industry

Cross-cultural biases occur when managers are required to evaluate employees from different cultural backgrounds other than their own. For example, in many Eastern cultures, the elderly are treated
Why must hospitality supervisors and managers be able to differentiate between an employee’s current performance and his or her potential performance? Provide examples from your own experience in
Give examples of both objective and subjective performance standards for a typical hourly position in a hospitality business. What are the primary reasons for determining standards objectively?
How does a properly administered employee performance appraisal system foster positive employee-employer relations? How can the appraisal system create the opposite effect and foster negative
What could Leslie do to change the performance appraisal system in her restaurant in order to make it more effective? How could the employees benefit if changes are made?
What problems might Leslie encounter if she does decide to change the methods and rating system she uses when evaluating her employees?
Are the employees benefiting or not benefiting from the system that is currently in place? Please explain your answer and give specific reasons for your opinion.
Are there any legal issues that may present a problem for the restaurant based on the current system? Please explain in detail.
List and describe the four shifts in the hospitality industry.LO.1
Why is service so important?LO.1
What is a moment of truth?LO.1
What is the Malcolm Baldrige National Quality Award?LO.1
How should Tom assess the current situation?LO.1
If you were Tom’s supervisor, what advice would you have given him before he started his new position?LO.1
Suggest ways to improve service in a hospitality business.LO.1
Explain the difference between a need and a desire.
Defi ne the words anger and confl ict.
Briefl y list the fi ve steps of confl ict management.
What do resolution strategies collaboration, compromise, competition, accommodation, and avoidance each result from?
Describe three ways of preventing confl ict.
What is confl ict?
How is confl ict caused?
How can employers “ manage ” confl ict?
Explain how confl icts can be resolved.
Can confl icts be prevented?
Is this a good approach to confl ict management? Give reasons.
What should Jim do next?
Do you think the situation can be resolved in this manner?
Describe the importance of planning.
Discuss the merits of the different types of planning.
Explain how goals are set and strategies are developed and give examples.
Identify the seven steps in operational planning
Name four purposes of planning.
What are the two main categories of planning?
What are the three main strategic management tasks?
Briefly explain the four growth strategies of corporations: (a) market penetration, (b) geographic expansion, (c) product development, and (d) horizontal integration.
What does SWOT analysis stand for?
What is environmental scanning
What is the difference between operational planning and strategic planning?
Why is it important to have a budget?
Give an example of goal setting.
Briefly describe the six steps of the MBO process.
What is strategic planning?
What is the distinction between SWOT analysis and environmental screening analysis?
In groups of four, develop a plan for your formal class graduation dinner with a prominent guest speaker.
Define communication.
List barriers to effective interpersonal communication and how to overcome them.
Differentiate between formal and informal communication.
Explain communication flows and networks.
Outline the eight steps in the decision-making process.
Know the difference between rational, bounded rational, and intuitive decisions.
Identify situations in which a programmed decision is a better solution than a non programmed decision.
Differentiate the decision conditions of certainty, risk, and uncertainty.
What is the difference between interpersonal and organizational communication?
What are three ways of communicating interpersonally?
Describe the interpersonal communication process
Define semantics.
Explain ambiguity as it relates to communication barriers.
What are three ways of overcoming communication barriers?
Define informal communication.
What is the difference between lateral and diagonal communication?
Elaborate on the wheel communication network.
List criteria for making a rational decision.
Give an example of satisficing.
What are the five aspects of intuition?
Name the two dimensions of decision-making styles.
Briefly describe the conceptual style of decision making.
Guests at a busy eight-story four-star hotel are constantly complaining about having to wait too long for the elevator. At 8:00 a.m. some ofthe elevators are in use by the housekeeping department,
The most important aspect of a manager’s job is typically described as decision making. Do you believe this is so? Explain.
When reviewing some important decisions you have made, would you describe them as mostly rational or intuitive decisions? What are the characteristics of each? How does intuition affect the
During the communications process, if the receiver disagrees with the sender, does this always mean that the message has not been properly understood? Or could it mean something else? Explain.
How can the grapevine be used to a company’s advantage?
When communication is not effective, is it always the fault of the receiver? Discuss all options.
Organization: Starbucks Web site: www.starbucks.com Summary: Starbucks founder Howard Schultz has resumed his role of chief executive officer and made plans for the reorganization of Starbucks to
Select a hospitality-related problem and write a problem statement. Then, using the decision making steps, show how you would solve the problem.
Why is it necessary for strict regulations to be in force on the casino floor?
Name the major gaming entertainment hotels in Las Vegas.
Give examples of nongaming revenue.
Describe the different types of contractors.
Name a few parks in the United States and in Canada. What are some characteristics that make the parks you named special?
What is Knott’s Berry Farm?
Highlight and review the key financial concepts, skills, and tools presented in this text.
Provide a reference guide to study for your final examination and a resource to refer to as new business opportunities and challenges present themselves throughout your hospitality career.
What is the maximum amount of loan I can afford based on my cash flow projections and loan terms offered by the bank?
What is the maximum interest rate I can afford to pay based on the amount of loan I need and the amortization rate offered by the bank?
How much will my annual debt service payment be based on the amount of the loan, interest rate, and amortization rate being offered by the bank?
What amortization rate do I need to ask for based on the amount of loan I need and the interest rate being offered?
How much equity you can raise based on your cash flow projections and your investor’s IRR hurdle rate.
What your equity investor’s IRR would be based on the percentage of ownership you are planning to offer him, how much he is investing, and the cash flow you are projecting.
Working backward, the minimum percentage ownership you need to offer your equity investor to meet, but not exceed, his IRR hurdle rate.
How strong is the project, and is it really feasible?■ Your business plan, story, and feasibility study must be persuasive and confirmed by a credible third-party source.
Is the project team really qualified?■ The credentials of your team must be outstanding. If you are attempting to finance a start-up business and your management team lacks experience, make sure
What is the risk of the venture failing?■ Lending is all about risk, so don’t ignore it. You must clearly state what the risks of the proposed project are and how you plan to minimize them.■
How much equity is the sponsor group investing in the deal?■ This is a tough question to answer, particularly if you have a limited amount of capital to invest in the venture or if you have elected
What annual return on investment (ROI) can I expect to receive, what’s the payback period, what is the net present value (NPV) of the deal, what is my projected internal rate of return (IRR), and
What is the exit strategy?■ An equity investor’s strategy is often to invest their equity, make a fast profit, and look for another opportunity to do it again.■ The faster the exit strategy,
What form of business entity is best suited for the venture?
What is the optimum mix of debt and equity?
How much of a carried interest will the deal support?
What deal points are most important to the prospective lender?

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