PRE-TEST - CHAPTER 3

It is a mandatory process for hotels of all sizes, categories, and services.

• Audit

• Night Audit

• Auditing

• Night Auditing

These are the major functions of a night audit except:

• Ensures rollover from one business day to the next day

• Verifies posted entries to guest/non-guest accounts

• Reconciles all front office cash counters/accounts

• Complicates room status and rate discrepancies

STEPS IN THE NIGHT AUDIT PROCESS

1. 1. Reconcile room status

2. 2. Verify room rates

3. 3. Total outstanding charge posting

1. 4. Verify no-shows of the day

5.Balance all departmental accounts

• 2,3,1,5,4

• 1,2,3,4,5

• 3,1,2,4,5

• 2,4,1,3,5

Night Audit Room details report captures the total number of rooms and their total guests under each category such as occupied rooms, available rooms, day-use rooms, etc., for the day.

• TRUE

• FALSE

It changes translate into changes in consumer demand for both industrial and consumer products and services.

• Key External Forces

• External Forces

• key Internal Forces

• Internal Forces

It entails firms striving to compete in attractive industries, avoiding weak or faltering industries, and gaining a full understanding of key external factor relationships.

• Industrial Organization (I/O)

• Competitive Intelligence (CI)

• External Factor Evaluation (EFE)

• Competitive Profile Matrix (CPM)

It identifies a firm’s major competitors and their particular strengths and weaknesses about a sample firm’s strategic position.

• COMPETITIVE PROFILE MATRIX (CPM)

• EXTERNAL FACTOR EVALUATION (EFE) MATRIX

• COMPETITIVE INTELLIGENCE (CI) PROGRAM

• INDUSTRIAL ORGANIZATION (I/O) VIEW

It is a systematic and ethical process of gathering and analyzing information about the competition’s activities, and general business trends to further a business’s owns goals

• COMPETITIVE INTELLIGENCE (CI) PROGRAMS

• INDUSTRIAL ORGANIZATION (I/O) VIEW

• EXTERNAL FACTOR EVALUATION (EFE) MATRIX

• COMPETITIVE PROFILE MATRIX (CPM)

It allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information.

• COMPETITIVE PROFILE MATRIX (CPM)

• COMPETITIVE INTELLIGENCE (CI) PROGRAMS

• INDUSTRIAL ORGANIZATION (I/O) VIEW

• EXTERNAL FACTOR EVALUATION (EFE) MATRIX

FIRMS AFFECTING FIRM PERFORMANCE except:

• Economies of scale

• Barriers to market entry

• Product differentiation

• Level of competitiveness

• None of the above