Hospitality and Tourism: Key Concepts and Industry Practices

Quality assurance

Processes used by businesses to prevent defective products from being created.

First step in completing a job application

Reading the entire form to follow directions.

Consumer expectation in hospitality

Consumers have the right to expect businesses to provide goods and services that are safe and clean.

Obtaining product specifications

The best way for an employee to obtain product specifications for a piece of office equipment is to contact the vendor directly.

Inventory type for demand increase

Businesses should make sure to have buffer inventory to help meet a sudden increase in demand.

Component of a formal report

The executive summary provides an overview of the important aspects of the report.

Planning a media presentation

Before building a media presentation, you should first plan the text and illustrations by creating a storyboard.

Interest payment difference

The business needed to pay $750 more in interest to purchase inventory this year than last year.

Information from internal business report

Employees often extract new personnel regulations from an internal business report.

Using social media for customer experience

An example of using social media to enhance a customer's post-sale experience is responding to negative and positive online reviews.

Benefit of accepting credit card payments

A benefit of accepting credit card payments is improved cash flow.

Examples of raw-goods producers

Farms, mines, and lumber companies are examples of raw-goods producers.

Consistent service strategy

One strategy to ensure all customers receive consistent, quality service is by training employees in company procedures.

Individual influence on buying behavior

An individual influence on buying behavior is age.

business risk

A negative outcome of the delivery guarantee for the pizza chain is that it caused an increase in business risk.

Scope

The aspect of the project that Madison is monitoring and correcting when realizing the team might need to create an additional brochure.

Directing

The management function in which Colleen can make the best use of her personality and communication skills to motivate others.

manage customer experience during peaks in demand

The reason Lucia's Bistro decided to offer half-off appetizers from 3-5 p.m.

hourly

The term 'wage' is usually associated with an hourly workforce.

unstructured business data

A common challenge a business may face with the use of unstructured business data is that they are difficult to standardize.

customer-service mindset

One way that employees who routinely deal with customers can demonstrate a customer-service mindset is by making eye contact.

product bundling

An example of product bundling is when an insurance company offers customers a discount when they purchase both a homeowners policy and an auto policy.

damaging the company's image

A business must be very careful about eliminating products to prevent damaging the company's image.

positive moment of truth in customer service

An example of a positive moment of truth in customer service is showing concern for customers' lengthy wait.

brand values

What a company must first think of when developing its brand promise.

obedience to authority

An example of how obedience to authority can impact ethics in finance is when Kaitlin fudges the numbers because her boss asked her to.

Adventure sales specialist

A job in the hospitality industry that best matches certain skills.

hotel employee recommending local attractions

An example of a hotel employee suggesting nearby events or activities to guests.

personal property inventory

A list that should include receipts for purchases.

importance of completing invoice forms with detail

Renee's mistake shows the necessity of providing clear descriptions of services on invoices.

key to successfully managing a project

Being organized is often essential for effective project management.

special order with a manufacturer

An example is blinds for a nonstandard-size window.

benefit of customer relationship management

The opportunity to create targeted marketing campaigns.

psychographic segmentation

A form of segmentation that focuses on customers' lifestyles and personalities.

blaming others for mistakes

This behavior indicates giving up control over your own life.

GDP category for new computer network installation

This transaction falls under Gross private domestic investment.

verifying reliability of online article

One way is by comparing the information with other articles about the topic.

Electronic key cards

A security measure often found in hotels and resorts.

Hyperlinks

Links that allow website visitors to access other websites from the bed-and-breakfast inn's website.

Surround yourself with positive people

A step in the process of maintaining a positive attitude illustrated by Hannah's experience with Tyler.

Quality

What a hotel restaurant might evaluate when asking a vendor to send a sample of its table linens.

Trustworthiness

The ethical principle demonstrated by Nikolas when he completes tasks and follows up with guests.

Group arrangements

A service offered by the travel and tourism industry.

Retaining

How Lachlan's company is handling the risk of a delayed flight by scheduling it for Tuesday morning.

Hospitality industry

Consists of entertainment, lodging, and food and beverage businesses.

Completing the necessary paperwork

Part of closing a sale.

Sherman Antitrust Act

The piece of government legislation violated by service station owners in Freeland when they agree to charge the same price for gasoline.

Follow company policies and procedures

What you can do to help your company control expenses.

Promotion in the hospitality industry

An example is a hotel advertising a free breakfast buffet for guests during slow seasons.

Free breakfast buffet

A complimentary meal offered to guests at a hotel on select mornings during slow seasons.

Special order

A request made by a customer for a product that a company does not typically make.

Initiative during power outage

Completing tasks that don't require electricity when there is a power outage at work.

Increased emphasis on training

A trend in the hospitality and tourism industry to gain a competitive advantage by exceeding customer expectations.

Lien

A legal right or interest that a lender has in a borrower's property, granted until the debt obligation is satisfied.

Savings and loan associations

A source of credit that would best fit the need for financing the purchase of a first home.

Guest recovery solutions

Training staff on these solutions empowers them to resolve customer service complaints.

Determine the severity of the injury

What employees should try to do when a customer is injured in an accident at a place of business.

Ongoing demand for fuel-efficient vehicles

A conclusion that can be drawn from the sales of an automaker's environmentally friendly hybrid cars increasing by a minimum of eight percent each quarter last year.

Defining risk philosophy

A best practice that most companies can use to implement enterprise risk management strategies.

Build trust with customers

Ensuring that customer data is safe helps businesses achieve this.

Product in the hospitality industry

An example is a bed-and-breakfast advertising private hot tubs and a fireplace in each room.

Proofread

What a job applicant should do after preparing the final draft of a letter of application.

Relationship between stocks and bonds

When stock prices rise, bond prices fall.

Best way to obtain mailing list data

By searching its own customer database.

Accounting method used by Finemart

Accrual accounting method.

Employee rights

Form unions.

Motivating circumstance for lodging selection

Location of the property.

Purpose of random product inspections

Monitor quality consistency.

Best chart for illustrating room bookings

Bar chart.

Consequence for failing to follow rules of conduct

Dismissal.

Trend impacting hospitality and tourism

Guest trend.

Examples of physical traits

Height and weight.

Result of good labor relations

Motivated employees.

Business policy for building clientele

Provide quality maintenance.

Stage in a record's life cycle after catering an event

Storing.

Use of descriptive statistics in business decisions

An airline determines the average number of empty seats to know whether to cancel a flight.

Ethics in information management

Information is better protected.

Handling annoyance with coworkers

Treat them the way you want them to treat you.

Emergency procedures for tour operators

Assist with evacuation.

Protecting social media accounts

Changing login passwords regularly.

Promotional strategy for new products

Pull.

Analyzing marketing information

To prepare reports.

Conducting informal interviews for menu items

Primary research.

Handling criticism

Maintain self-control.

Reducing production costs

Improve the firm's productivity.

Purpose of customs regulations

Prevent illegal materials from exiting or entering a country.

Difference between vision and goal

A vision is long term and broad, whereas a goal is specific and measurable.

Function of management for long-term assignments

Organizing.

Fairness and justice in the workplace

Present in every workplace in America.

Ethical workplace culture

Essential to an ethical workplace culture.

Promotion adjustment

Should be adjusted as demand for a product changes.

Managerial planning

Reflecting on team progress to ensure alignment with company goals.

Competing situations

Conflict arising when multiple important tasks or events occur simultaneously.

Selling-activity policies

Guidelines for selling activities that involve customer interaction.

Meeting contributions

You should contribute something to every meeting.

Confidence in product

Waiting to release a product until it is completely ready demonstrates confidence in the product and its benefits.

Credit card processing fees

Three types include interchange, assessment, and payment processing fees.

Chain of command

Abiding by it is likely to develop strong professional relationships.

Employee burnout

A primary reason is becoming bored with the work.

Accommodating parents

Providing entertainment for customers' children to meet parents' needs.