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THC 322 > THC 322 > Flashcards

THC 322 Flashcards

1
Q

3 main categories of business organizations

A
  • Sole Proprietorship
  • Partnership
  • Corporation
  • Cooperative
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2
Q

HOW TO START A HOSPITALITY BUSINESS

A

 Get the structure right
 Sort out your investment
 Plan your technology strategies
 Take time over branding
 Property and licenses
 Personal matters
 Contracts and partners
 Plan for growth

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3
Q

SECTORS WITHIN THE HOSPITALITY INDUSTRY
(ACCOMMODATION)

A
  1. Bread and Breakfast
  2. Hotels
  3. Motels
  4. Hostels
  5. Resorts
  6. Serviced apartments
  7. Time-sharing
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4
Q

SECTORS WITHIN THE HOSPITALITY INDUSTRY
(Food and Drinks)

A
  1. Restaurants
  2. Catering
  3. Bars and Cafes
  4. Nightclubs
  5. Tea and Coffee shops
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5
Q

SECTORS WITHIN THE HOSPITALITY INDUSTRY
(Travel & Tourism)

A
  1. Travel Agents
  2. Tour Operators
  3. Online Travel Agencies
  4. Cruises
  5. Car Rentals
  6. Casinos
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6
Q

This does not apply to hotel and resort industries alone but also involves mining, agriculture, construction, petroleum and gas industries.

A

Compliance Certificate (ECC)

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7
Q

environmental permits and assistance in reversing the breach standards of Pollution Cases and finding solutions to meet the standards of DENR.

A

Environment Impact Assessment (EIA)

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8
Q

improvement of old products or new markets, and on the improvement of old products with combined features of improvement

A

Product-line. New market investments

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9
Q

necessary to comply with government orders, insurance policy, labor terms etc.

A

Investment in safety/ environmental projects

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10
Q

designed to accomplish overall objectives of the firm

A

Strategic investment

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11
Q

the catch-all terms ex: buildings, parking lots, exec aircraft

A

Other investments

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12
Q

opening an accommodation establishment in the Philippines.
Accommodation establishments (include: hotels, resorts, inns, pension houses, motels)

A

The Philippines Hotel Law

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13
Q

HOTEL CLASSIFICATIONS

A
  1. Economy class accommodations
  2. Standard class accommodations
  3. First-class accommodations
  4. Deluxe class hotels
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14
Q

Relate to the foodservice, travel, and lodging industries.

A

HOSPITALITY LAW

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15
Q

treatment of a person’s guests or those who patronize a place of business.

A

Legal and social practice

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16
Q

THE WAY TO GET STARTED IS TO QUIT TALKING AND BEGIN DOING.

A

-WALT DISNEY

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17
Q

Duty to guests

A

 Keeping customers safe
 Protecting your reputation
 Honoring agreements and fair marketing
 Record-keeping for hospitality laws

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18
Q

REQUIREMENTS TO REGISTER A HOTEL IN THE PHILIPPINES

A

 An application form to be filled in duplicate form
 CC of the company’s Articles of Incorporation
 Information about shareholders, directors and employees of the hotels
 License issued by the municipal authorities

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19
Q

funds to lower costs and increase net income | capital inflexibility |fixed assets

A

CAPITAL EXPENDITURES

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20
Q

investments on worn-out or obsolete facilities

A

Replacement investments

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21
Q

expenditures that provide additional facilities to increase production

A

Expansion investments

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22
Q

Helps management in choosing alternative courses of action to achieve higher gains.

A

CAPITAL BUDGETING

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23
Q

A proposal to the management which determines the worth of the company

A

VALUATION

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24
Q

When a company uses portions of its funds to establish a project

A

INVESTMENT

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25
Q

2 Forms Of Investment

A
  1. Initial- amount to a project until it generates inflow
  2. Later- investments made after the initial cash flow
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26
Q

amount to a project until it generates inflow

A

Initial

27
Q

investments made after the initial cash flow

A

Later

28
Q

To maximize and effectively use the limited resources of the company

A

Establishing priorities

29
Q

To ensure availability of funds that will be sufficient to meet its cash requirements, including those in the acquisition of funds.

A

Cash planning

30
Q

To minimize the period expended for the construction and acquisition of capital asset. Presented before capital budget is prepared

A

Construction planning

31
Q

To identify efforts undertaken in levels of decentralized organization

A

Eliminating duplication

32
Q

Changes in expected profitability, construction cost and timing of start-up

A

Revising plans

33
Q

THE CAPITAL BUDGETING SYSTEM

A

 Preparation and submission of budget requests;
 Approval of budget
 Request for appropriation
 Submission of progress reports
 Post approval reviews

34
Q

Included in the corporate budget capital projects which are felt to be desirable by those on lower organization levels

A

BUDGET REQUESTS

35
Q

 These include:
Project title
Cost estimates (fixed, working capital,non-operating outlays, etc)
Priority rating
Profitability
Timing
Financing method

A

Budget requests

36
Q

APPROVAL OF THE BUDGET

A

 Budget Request forwarded to top management
 Top management chooses projects to recommend to the BOD
 Top management sends recommendations to BOD
 Board of Directors approves/disapproves recommendations
 Top management informs project sponsors of the actions taken

37
Q

Request and authority section

A

Request and authority section

38
Q

Justification for undertaking the proposal

A

Narrative section

39
Q

Contains copst estimates and results of market studies

A

Supporting documentation section

40
Q

Submission of Progress Reports

A

 To review accuracy
 To provide update on expenditures
 To verify assumptions

41
Q

Post Approval reviews

A

 To evaluate abilities and judgements of sponsors
 To identify errors in judgement
 To help ensure quality of information

42
Q

decisions must be made as quickly as possible

A

Urgency

43
Q

availability of spare parts and maintenance experts

A

Repairs

44
Q

considerable credit sense

A

Credit

45
Q

social considerations and other non-economic persuasions

A

Non-economic factors

46
Q

economic evaluation

A

Investment worth

47
Q

uncertainty of expected return

A

Risk involved

48
Q

4 factors involved in risk evaluation

A
  1. Possible inaccuracies in figures used
    Wrong estimates
  2. Type of business involved
    Varying degree of risk per type of business
  3. Type of physical plant and equipment involved
    PPEs might be obsolete before their economic life expires
  4. Length of time that must pass before all conditions are fulfilled
    Estimates for longer period are more prone to inaccuracies
49
Q

SENSITIVITY ANALYSIS

A

 Analysis of expected returns made on various utilization levels
 Applicable to capital exGuide Questions
 penditures in purchase or construction of plant

50
Q

Well-conceived holistic marketing orientation is strong customer relationship.

Marketers must:

A

 Connect
 Inform
 Engage
 Energize customers in the process

51
Q

“The only value your company will ever create is the value that comes from customers—the ones you have now and the ones you will have in the future”
-Don Peppers and Martha Rogers

A

MARKETING EXPERTS

52
Q

is the perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychological costs.

A

Total customer cost

53
Q

between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

A

CPV

54
Q

“The real price of anything is the toil and trouble of acquiring it.”

A

-Adam Smith in The Wealth of the Nations

55
Q

DECISION-MAKING THEORY | In order for Caterpillar to succeed in making a sale:

A
  1. it can increase total customer benefit by improving economic, functional, and psychological benefits of its product, services, people, and/or image.
  2. it can reduce the buyer’s nonmonetary costs by reducing the time, energy, and psychological investment.
  3. it can reduce its product’s monetary cost to the buyer.
56
Q

CUSTOMER VALUE ANALYSIS

A
  1. Identify the major attributes and benefits customers value.
  2. Assess the quantitative importance of the different attributes and benefits.
  3. Assess the company’s and competitors’ performances on the different customer values
    against their rated importance.
  4. Examine how customers in a specific segment rate the company’s performance against a specific major competitor on an individual attribute or benefit basis.
  5. Monitor customer values over time.
57
Q

Customers are asked what attributes, benefits, and performance levels they look for in choosing a product and vendors. Attributes and benefits should be defined broadly to encompass all the inputs to customers’ decisions.

A
  1. Identify the major attributes and benefits customers value.
58
Q

Customers are asked to rate the importance of different attributes and benefits. If their ratings diverge too much, the marketer should cluster them into different segments.

A

Assess the quantitative importance of the different attributes and benefits.

59
Q

Customers describe where they see the company’s and com-petitors’ performances on each attribute and benefit.

A

Assess the company’s and competitors’ performances on the different customer values
against their rated importance.

60
Q

If the company’s offer exceeds the competitor’s offer on all important attributes and benefits, the company can charge a higher price (thereby earning

A

Examine how customers in a specific segment rate the company’s performance against a specific major competitor on an individual attribute or benefit basis.

61
Q

The company must periodically redo its studies of cus- tomer values and competitors’ standings as the economy, technology, and features change.

A

Monitor customer values over time.

62
Q

The company must periodically redo its studies of cus- tomer values and competitors’ standings as the economy, technology, and features change.

A

Monitor customer values over time.

63
Q
A

Marketing Plan (nagpasa na ng document and pdf)

Group 1
Castillo, Cherry May N.
Panaligan, Jake D.

GROUP 2- BONCHON
Bautista, Justin Alhea B.
Domanico, Trisha Mae
Romero, Fernando

Group 3- QATAR AIRWAYS
Macatangay, Jamaica
Marcellana, Mark Louie
Populi, Mickaella Marie S.

GROUP 4- Emirates Palace
Crone, Isobel Marlene A.
Garing, Jay-Ann S.
Malimban, Grant Lenoxx P.

GROUP 6- BURJ AL ARAB
Bobis, Alaiza Mae V.
De Castro, Marjie L.
Dela Vega, Prince Vien

GROUP 7- JOLLIBEE
Patulay, Christine Angeline L.
Martinez, Marivic
Ramos, Brian

GROUP 8- PHILIPPINE AIRLINES
Celis, Marie Christine M.
Historillio, Alex M.
Roldan, Jonalyn U.

Group 9- MCDO
Espanola, Rico Jay F.
Roa, Krishia Mae P.
Villanueva, Rencie Mae A.

Group 10- OKADA MANILA
Baculo, Jasper
Gutierrez, Rochelle
Rafol, Christine May

GROUP 11- CONRAD MANILA
Aboboto, Lycele Ann
De Jesus, Sharilou
Dela Rosa, Gerrishe

GROUP 12- PARK HYATT SYDNEY
Gagula, Chelzea Vianca M.
Mosada, Joniel S.

GROUP 13- AIR ASIA
Agena, Merville Kim
Datinguinoo, Nico
Tria, Sonny

GROUP 14- ATLANTIS DUBAI
Bicol, Yana Victoria Q.
Mazo, Dannah Glenn J.
Recto, Mary Catherine L.

Group 15- KFC
Aguho, Erica
Gida, Arrianne Joy
Ortega, Trisha

Group 16- MANG INASAL
Gutierrez Erica
Marasigan, Annabel B.
Panganiban, Rodel A.

THC 322 (1 decks)

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