Question

7. Explain the reporting that is completed for the following cycles/periods and write down a procedure for each that is relevant to a hospitality business

Answer 1

The report that is completed for the following cycles/periods helps to better understand the real situation and resources of a company, helping to make more effective decisions aligned with the strategy.

For a hospitality business such as a hotel, management reports must contain tactics and procedures that support continuous process improvement.

How do management reports help a business?

They help in the management more aligned with the position of the business in the internal and external environment, providing essential requirements for the control, correction and direction of strategic actions that will help in the creation of value for the market, reaching more potential consumers and increasing competitiveness.

In a hotel, the record of transactions will help to identify the target audience, reaching market segmentation, in addition to the most essential entries and exits to the business.

Therefore, management reports are an instrument that increases the reliability of decision-making and the continuous improvement of the business.

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