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ddd [48]
3 years ago
8

Which department managers in a hotel would benefit from understanding a bit about financial management? What should they know? W

hen you are in a position of authority, how would you ensure these managers learned the things that you identified?
Business
1 answer:
dolphi86 [110]3 years ago
5 0

Department managers in a hotel would benefit from understanding a bit about financial management in the following way

Explanation:

  • Teamwork: Almost every job within the hospitality industry involves teamwork. ...
  • Multi-tasking: No day is the same within the hospitality industry. ...
  • Flexibility: ...
  • Attention to Detail: ...
  • Industry Awareness: ...
  • Time Management: ...
  • Communication: ...
  • Interpersonal Skills:

Financial management includes

  • Financial management requires forecasting various elements such as demand, inventory availability, market share, and total market.
  • Revenue management is an extremely important concept within the hospitality industry, because it allows hotel owners to anticipate demand and optimise availability and pricing, in order to achieve the best possible financial results.
  • Revenue Management is the application of analytics that predicts consumer behaviour at the micro-market level to optimise product availability and price to maximise revenue growth. The primary aim of a revenue management strategy is selling the right product to the right customer at the right time for the right price.
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Moe is an average worker stuck on a team of complacent workers. Nick is an innovator who produces triple the amount of the avera
VLD [36.1K]

Answer:

Wyatt

Explanation:

High outcome interpendence is a concept that encourages cooperation between members on a team. It shows that if a team wins all members will benefit, and if the team fails all members will be adversely affected.

In this scenario Wyatt who is a slacker in the team of Nick will stand to gain more.

In a high outcome interpendence scenario Nick will be forced to improve on the performance of Wyatt in order to meet team objectives.

The other average workers will only gain a little from increased cooperation.

5 0
3 years ago
Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save mon
Llana [10]

Answer: The income effect

Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.

In the given case, Natalie was price conscious  and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.

Hence from the above we can conclude that the correct option is A.

7 0
3 years ago
In what ways can labor and management resolve disputes
saul85 [17]

Answer:

understand

Explanation:

by understanding each other and work inline with the business goal in order to achieve the business objective

5 0
3 years ago
If revenue is less than operating expenses, the business would have a _____ cash flow. break-even negative
Aneli [31]

The correct answer is negative cash flow.

When a company has a situation where their revenue is less than their operating expenses they have a negative cash flow. This is normally indicative that a company is not doing well and may need to make changes in order to become profitable.

3 0
3 years ago
Read 2 more answers
Sankey Co. has earnings per share of $3.95. The benchmark PE is 18.8 times. What stock price would you consider appropriate
trapecia [35]

Answer:

Stock price = $74.26

Explanation:

<em>The value of a share can be determined using the price earning ratio model. According to this model, the price of a share is estimated as the EPS of the company multiplied by a representative (benchmark) price- earning (P/E) ratio</em> .

The  ratio relates the price of a stock to its earning. A stock with a higher P/R indicates a high potent for growth.

Price of stock =Earnings per share( EPS) × benchmark P/E ratio  

The appropriate comparative price earnings ratio in the question has been given as 18.8 times.

DATA-

EPS- 3.95

PE- 18.8

Stock price = 3.95 ×  18.8= $74.26

Stock price = $74.26

7 0
3 years ago
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