FUNDAMENTALS OF LODGING OPERATIONS Flashcards
is the largest and fastest industry in the world, in such it can be in land, sea, and air.
Hospitality Industry
5M’S IN THE OPERATION MANAGEMENT
Money
Material
Machinery
Methods
Manpower
2 OUTPUTS IN SUPPLY
Product - tangible, physical
Service - most common output in the hospitality industry.
In providing service there must be a system called
INPUT-PROCESS-OUTPUT
INPUT-PROCESS-OUTPUT
INPUT - the necessary ingredients, materials, and manpower
PROCESS - the actual making of the produce
OUTPUT - the finished product
4 SCOPES OF HOSPITALITY & TOURISM INDUSTRY
Accommodation
Food & Beverage
Gaming
Transportation
REASONS WHY PEOPLE TRAVEL
(8)
Leisure
Holidays
Business
Education
Medical
Culture
Sports
Religion
used to assess and identify your target market.
DEMOGRAPHIC PROFILE
MOST COMMON
DEMOGRAPHIC PROFILE
Age
Gender
Occupation
Education
Nationality
2 KINDS OF ENVIRONMENT
INTERNAL & EXTERNAL
Easy to control (everything that is inside our boundaries) such as the procedure, manpower, machineries, strategies, etc.
INTERNAL
EXTERNAL ENVIRONMENT
It affects your business in which may become your benchmark, controls your profit or sales, and what will you’ll be providing them.
MARKET
EXTERNAL ENVIRONMENT
Directly and indirectly affects your profit and sales.
COMPETITORS
EXTERNAL ENVIRONMENT
The very first you put up your business, the government will always be there. It can be due to permits, ordinance, protocols or other legal matters concerned with your business. Your capital also must equate to the tax you’ll be paying.
GOVERNMENT AND LAWS
EXTERNAL ENVIRONMENT
It might be due to me stocks of our natural resources. It is also inevitable due to climate change and because of this price in the market increases or decreases.
NATURAL RESOURCES
is a potential threat, customer use it as an alternative, buying less of one kind of product but more of another.
Substitute