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WorksheetsTHC 10 - ENTREPRENEURSHIP IN HOSPITALITY Midterm Examination
Total questions: 50
Worksheet time: 50mins
In every phase of the process, it is necessary that company must invest into this.
building
capital
training
labor
This is considered as the main element of marketing mix.
price
product
place
promotion
This may be described as a statement of the financial position of a concern at a given date.
ledger
balance sheet
portfolio
journal
This is the monetary value that you charge to cover the cost of the product plus the other costs associated with the product.
price
place
promotion
product
This involve the implementation of resources, materials, equipment, and technology.
hospitality management operations
human resource management
financial management
marketing management
This includes multiple areas of focus as part of a comprehensive marketing plan and composed of the four P's.
SWOT analysis
markeing mix
PESTLE analysis
Financial management
To increase the effectiveness of new business ideas, you need to have efficient business implementation of:
vision
mission
strategies
plan
This is a list of all the balances standing on the ledger accounts and cash Book of a concern at any given data.
balance sheet
trial balance
journal
book keeping
This is the sum total of all external and internal factors that influence a business.
government
business patrons
business planning
business environment
This refers to a person who undertakes and operates a new enterprise or venture, and assumes accountability for the inherent risks.
entrepreneur
businessman
managers
leader
The following are part of communication mix for promotion, EXCEPT:
personnel selling
advertising
public relataions
promotional discount
This is the impersonal ledger, on the other hand, contains all real and nominal accounts.
ledger
debtors ledger
sub-division ledger
credit ledger
This is basically sociological factors related to general society and social relations that affect your business.
social factors
economic factors
political factors
environmental factors
This is the process of seeking businesses opportunities under conditions of risk.
business planning
business opportunities
entrepreneurship
investors
Hospitality and tourism industry offers majority of:
tangible aspects
intangible aspects
This contains all accounts other than debtors and creditors.
private ledger
credit ledger
sub-division ledger
general ledger
This are innovations that can either benefit or destroy your business.
technological factors
political factors
environmental factors
social factors
This is someone who is starting or running a business in cyberspace and the internet.
entrepreneur
cyberpreneur
investor
creditor
One among the factors that is included in this 4P's of marketing which includes supporting infrastructure.
price
promotion
place
prodcut
These are the obligations or debts payable by the enterprise in future in the form of money or goods.
assets
liabilities
capital
accounts
These are governmental activities and political conditions that may affect your business.
social factors
environmental factors
technological factors
political factors
The main desire of this person is to grow his business.
entrepreneur
cyberpreneur
politician
businessman
This is not based on production costs, but by the demand in the market
price
promotion
product
place
This is the valuable things owned by the business.
liabilities
capital
assets
equipment
These factors overview the legal elements in a business.
social
political
legal
environmental
The entrepreneur is a French term derived from the word "entreprendre" that means:
to undertake
to mislead
to evaluate
to master
Taking a vacation trip to Prague is an example of:
price
product
place
promotion
This is a type of assets, which do not have physical form.
wasting assets
fictitious assets
fixed assets
intangible assets
This refer to the tastes of particular groups of people.
consumer preferences
niche market
guests
demographics
This refers to key characteristics possessed by successful entrepreneurs in performing entrepreneurial function effectively.
entrepreneurial qualification
entrepreneurial competencies
entrepreneurial skills
entrepreneurial abilities
Eating in a fine dining restaurant and experiencing the ambiance is an example of:
place
price
product
promotion
These are assets which are consumed through being worked or used. Mines are the examples of wasting assets.
wasting assets
fictitious assets
fixed assets
intangible assets
This is an idealized abstraction of the product or service to be offered to the preferred market of the entrepreneur.
idea
plan
business
concept
Online marketing communication includes the following, EXCEPT:
public relations
direct email marketing
telephone calls
online catalogue
These are liabilities payable with in a year.
contingent liabilities
current liabilities
transactions
fixed liabilities
This refers to the ability of the entrepreneur to sense without using the five senses.
believe
facts
intuition
gifted
This is a process that creates and manages a business to achieve the entrepreneur’s desired goals.
entrepreneurship
business
invest
marketing
These contains all accounts other than debtors and creditors.
private ledger
general ledger
trial balance
nomical accounts
This include both the Macroeconomic and Microeconomic factors.
economic factors
political factors
social factors
technological factors
This is the part of capital available with the firm for day-to-day working of the business.
liabilities
working capital
assets
fixed capital
These assets also known as circulating, fluctuating or current assets.
liquid assets
wasting assets
intangible assets
fictitious assets
This is consider as things such as fair trade, slavery acts and child labor, as well as corporate social responsibility (CSR), where a business contributes to local or societal goals such as volunteering or taking part in philanthropic, activist, or charitable activities.
ethical factors
social factors
political factors
economic factors
These are accounts relating to expenses, losses and incomes and gains.
personal accounts
real accounts
capital
nominal accounts
The the first step in the preparation of final accounts is the preparation of the:
loss account
trading account
profit account
capital
This refers to the target market segment of a particular enterprise.
macro environment
micro environment
global environment
niche environment
All accounts of credits will be found in this book and it is also called suppliers ledger.
credit ledger
general ledger
sub-division ledger
debtors ledger
This is used by the organizations to have a more organized and exhaustive manner of analyzing the external factors that affect their businesses, including the determination of their impacts as well as inherent risk involved.
SWOT
PESTLE
FIFO
RA
These are serveral knowledge required as an entrepreneurs, EXCEPT:
culture
creativity
values
economics
This refer to the disliking factors that irritate customers.
consumer preferences
consumer piques
consumer perception
consumer behavior
Those who are interested in buying the shares of a company which are naturally interested in the financial statements to know how safe the investment already made is and how safe the proposed investment will be.
capitalists
creditors
investors
workers
