1. A hotel tries to reduce the perishability of its services by selling last minute inventory at a highly discounted price. This technique presents threats to a company’s: A. Brand image B: Variability of services C: Relationships with suppliers D: Human resources turnover
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
1. A hotel tries to reduce the perishability of its services by selling last minute inventory at a highly discounted price. This technique presents threats to a company’s:
A. Brand image
B: Variability of services
C: Relationships with suppliers
D: Human resources turnover
2. Sometimes, hotel and airline companies upgrade guests to higher-end services. For such services, there are not a lot of word-of-mouth, reviews, or pictures available. For example, a hotel may upgrade a guest who paid for a regular room to a suite in order for the guest to experience an upscale product that the customer does not purchase often, but may purchase in the future. This situation, where a guest may experience an unfamiliar upscale service for the first time, is likely to result in a __________ in the __________ of services.
A: increase, intangibility
B: reduction, intangibility
C: reduction, variability
D: increase, variability
3. In hospitality and travel industries, customers and frontline employees ________ in order to create a service.
A. interact
B: pay first
C: evaluate each other
D: express their expectations of each other
4. Fifty percent of Hotel A’s customers are loyal. They repeat their purchases and refer other customers, resulting in ________
A. higher employee turnover at Hotel A
B: increased technology installations at Hotel A
C: healthy service profits at Hotel A
D: decreased market share for Hotel A
5. Adrian is a General Manager for a downtown hotel in a major U.S. city. Angela is the Front Desk Manager at the same hotel. Adrian is arguing that selecting the best employees and training them properly will not ultimately result in profits and growth for the hotel. Angela disagrees. In this scenario:
A: Adrian is correct
B: Angela is correct
C: Both Angela and Adrian are correct
D: It cannot be determined who is correct based on the information above
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