Define resource allocation
What will be an ideal response?
How can a firm accomplish the resource allocation process?
What will be an ideal response?
The hospitality industry clearly understood the timing and impact of technology in 1995 .
Indicate whether the statement is true or false
To enhance the foresight of opportunities, a manager should develop the ability to interpret and synthesize information about emerging patterns of events in his/her business environment.
Indicate whether the statement is true or false
What is strategy implementation?
What will be an ideal response?
An opportunity is discovered by a pure luck.
Indicate whether the statement is true or false
Which of the following can best describe the phrase pay for performance?
a. a hotel manager giving his front desk manager a cash reward for excellent supervision of front desk employees.
b. service personnel receiving tips for excellent customer service.
c. a sales person overselling rooms or convention space in order to achieve a sales goal.
d. a and b.
An opportunity discovered based on a manager's gut feeling may create risks for the stakeholders.
Indicate whether the statement is true or false
Training, development and education play an important part in successful strategy implementation for firms in the hospitality industry because
a. few firms in the hospitality industry have thorough training programs.
b. the hospitality industry is known for its homogeneity of tasks and low turnover rate.
c. training, development, and education are known as being crucial for good cash flow and high dividends.
d. one of the competitive methods in most firms is service quality leadership, which
requires many people-hours and for which turnover is very high.
The evaluation of strategy implementation activities should
a. reflect the accomplishment of long and short-term objectives, be measured by means of cash flow per share, and occur on a regular basis throughout the implementation of the strategy.
b. be conducted only when the implementation of the strategy is accomplished.
c. be conducted by an outside consulting firm.
d. reflect the accomplishment of short-term objectives.
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