Online Quiz (HTRM 4-1)

A mandatory process for hotels of all sizes, categories, and sizes.

• Day Audit

• Night Audit

• Graveyard Audit

An important part of an external audit is identifying rival firms, and determining their strengths, weaknesses, opportunities, threats, objectives, and strategies.

• Economic Forces

• Competitive Forces

• Technological Forces

It represents major opportunities and threats that must be considered in formulating strategies.

• Technological Forces

• Economical Forces

• Competitive Forces

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

• EFE Matrix

• IFE matrix

• CPM

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

• CPM Matrix

• EFE Matrix

• IFE Matrix

Which among are part of Porter's Five Forces Model?

• Rivalry among the competitive firms

• Potential entry of new competitors

• Bargaining power of supplies

• Bargaining power of stakeholders

Includes all those managerial activities that result in structure of task and authority

• Planning

• Organizing

• Motivating

It consists of all managerial activities related to preparing for the future.

• Planning

• Organizing

• Motivating

It can be described as the process of defining, anticipating, creating, and fulfilling customers' needs, and wants for products and services.

• Market

• Marketing

• Marketers

It must go beyond the actual calculation and interpretation of ratios.

• Financial Ratios

• Financial Analysis

• Financial/Accounting