Chapters #7, #8, #9

Which of the following best describes the role of an event planner brought on to handle activities associated with convention catering?

• Event management is the organising of menus and drinks.

• Event management is the application of the techniques of project management to the creation and development of festivals and events.

• Event management is pre-event contracting of details and prices.

• Event management is the interaction between client and venue.

Which are the most important skills necessary for event planners to succeed?

• Exceptional customer service and logistical skills are essential.

• Strong financial management skills.

• Ability to make quick decisions.

• Architectural design skills.

Positive impacts associated with casino developments include the following, EXCEPT?

• Expanded work opportunity for local residents.

•  Increased tax collections and duties for improved infrastructure.

• Increased consumer activity and growth in customer demand for hotels, restaurants and entertainment venues.

• Complicated governmental regulation.

All of the following are shared economy sectors except which one?

• Uber eats

• Airbnb

• Marriott staycations

• Door dash delivery services

Which of the following best describes the core value proposition associated with shared economic business models?

• A one size fits all product

• A peer-to-peer system of exchange

• A did it yourself starter kit

•  A partnership with major brands

What is the primary objective of shared economic services?

• The shared economy creates a unique product experience.

• The shared economy is a costly to consumers.

• The shared economy is based on supply and demand.

• The sharing economy is built on the premise that sharing goods, services, and assets is more efficient because shared services are often reduced costs.

Which of the following are considered risks to the traditional hotel industry caused by shared economic services?

• Customers will not be able to adapt to technology quickly enough.

•  Safety and security will continue to be an issue with Airbnb.

• Airbnb and other shared economic services are a fad that will go away.

• As consumers become more familiar with new technology platforms like Airbnb, hotels will continue to lose business if they do not properly respond.

Identify one key advantage of becoming an entrepreneur.

• Control your own time on the job.

• Low risk ventures.

• Equity in assets/earnings.

• Good work-life balance.

 Which of the following are the risks involved in entrepreneurship?

• Solid financial benefits.

•  Easy access to investment funds.

• Financial risks.

•  Limited hours and hard work.

What is considered a key factor in setting out to become an entrepreneur?

• Finding enough start-up capital to start your new venture.

• Figuring out the opportunity cost of leaving your current job or income stream.

• Bringing together several investors.

• Having advanced technology skills.