DECA Principles of Hospitality and Tourism Instructional Areas & Performance Indicators (DETAILED)

explain types of business ownership (CS)

- sole proprietorship: owner fully responsible for all obligations and debts

- partnerships: owners combine financial resources

- corporations: legal entity separate from owners and shareholders

- has the same rights as a person

- general partners: share in management and liability responsibility

identify sources that provide relevant, valid written material (PQ)

REVIEW

R: relevance

E:expertise of author

V: viewpoint of author

I: intended audience E: evidence

W: when published

extract relevant information from written material (PQ)

extracting information while reading is a process that consists of three main activities: pre-reading, reading and review.before you begin to read determine what you need to know.

apply written directions to achieve tasks (PQ)

read all of the written instructions all the way through at least once understand the written instructions. if you have a question reread the instructions or the part you don not understand

comprehend what the instructions tell you to do. Do not start to follow the instructions until you are completely clear with them.

analyze company resources to ascertain policies and procedures (CS)

review the policies and procedures related to the information system to see how well they are working identify any weaknesses.

explain communication techniques that support and encourage a speaker (PQ)

active listening, taking notes, and noverbal cues such as eye contact.

follow oral directions (PQ)

maintain eye contact with the speaker. to follow oral directions you must carefully listen as the directions are presented.

demonstrate active listening skills (PQ)

1. face the speaker. sit up straight or lean forward slightly to show your attentiveness through body language. 2. maintain eye contact. 3. minimize external distractions. 4. respond appropriately to show that you understand.

explain the nature of effective verbal communications (PQ)

types of verbal communication can be classified into two types, interpersonal communication, communication between two or more individuals, include talking with friends and having a family meeting.

ask relevant questions (PQ)

explain your misunderstanding. state what you know. state what you don't know. sound confident. speak as well as you can. always research first. keep calm.

interpret others' noverbal cues (PQ)

notice overall signals. the way someone dresses and habits of grooming can convey clues about who they are, or how they wish to be perceived. pay attention to posture. this means more than just whether someone sits up straight.

employ communication styles apporpriate to target audience (CS)

to target the audience you have to research, specificity, need and strategy. Research what type of audience you will be talking to for example if you are talking to people who don't know a lot about the topic then you need to explain it to them. Knowing what type of audience you are talking to can help you know how to communicate and what styles to use.

defend ideas objectively (CS)

when defending ideas it is best not to defend yourself by using your emotions defend the problem you are trying to solve by using facts and proven research

handle telephone calls in a businesslike manner (CS)

Know what you are going to say because you don't want to waste the other person's time

participate in group discussions (CS)

participating in group discussions can help you understand what is going on and it also lets you have an opinion that you want to say.

utilize note-taking strategies (CS)

paraphrasing is a good idea when having to write a lot of notes and putting labels helps you focus what the subject is about or what topic you are on.

keep notes clear

organize information (CS)

this helps to know what your plan is and if you are writing notes labeling is a good idea to keep track on what you are working on.

select and use appropriate graphic aids (CS)

using appropriate graphic aids helps you and the audience understand what you are trying to say during the presentation.

explain the nature of effective written communications (CS)

basically usually written stuff have a good explanation of what is going on for example a policy or a type of change happening in the business

select and utilize appropriate formats for professional writing (CS)

when writing something it has to be clear so that the person reading it can understand what you are trying to say. it is good to have a smart vocabulary but you mostly want your audience to understand you.

edit and revise written work consistent with professional standards (CS)

when editing check for errors that you might have for example, does it make sense, are there any spelling errors, is it professional and is it clear

write professional e-mails (CS)

Have a clear subject that identifies the purpose of the email, greet the person by name (avoid "to whom it may concern"), keep the email short and to the point, and close appropriately.

write business letters (CS)

A business letter must include:

Sender's address

Date (21 August 2013)

Inside Address

Salutation

Body (written in block format)

Closing

Signature

write informational messages (CS)

this includes messages that are clear and people are able to understand what the message is about.

write inquiries (CS)

inquiries - is an act of asking for information so for writing it involves what you want to have and if you are sending it to someone you are asking for something

describe the impact of a person's social media brand on the achievement of organizational objectives (CS)

Social media can improve the morale of the person while improving the public image of the brand.

distinguish between using social media for business and personal purposes (CS)

businesses use social media to advertise their company and to get connected with their customers/users and personal purposes are like email, and for employees to use for their daily life

explain the nature of staff communication (CS)

having good communication with your staff helps understand what each of the employees are thinking of and gets everyone on track of what is going on

choose and use appropriate channel for workplace communication (CS)

you have to know who your audience is so that you can have a plan on how you are going to catch the audience's attention, some examples are using email ad's, commercials but you have to identify what type of commercials

participate in a staff meeting (CS)

when you participate you get to know what is going in the company and you can ask questions when you don't understand something from the company.

participate in problem-solving groups (CS)

when you participate in problem solving groups you can help by solving what is going on and putting your understanding with the group

explain the nature of positive customer relations (CS)

Believing that your customers deserve the best -

focused attention, expectations, have important

problems and complaints

demonstrate a customer-service mindset (CS)

Consider and attempt to meet their needs, give them your attention, and follow through on what is being said, and being efficient in handling issues

develop a rapport with customers (CS)

basically it is having good customer relationships to give the customer a good view that the business is being helpful to its customers

reinforce service orientation through communication (CS)

service orientation = listening to understanding the customers, satisfaction is of utmost importance demonstrated through: prompt greetings, full attention, relevant question, empathy with concerns, knowledge, verbal and non verbal encouragement, thanking individual, courteous, try to go above and beyond, follow through

respond to customer inquiries (CS)

warm, friendly professional tone, approachable be knowledgable and know when to escalate listen carefully, ask questions avoid vague, slow or stock responses. Own the problem: thank them, listen, make sure they know you will sort it out. Go away, do some research, get back to them when you say you will; and get them a result

adapt communication to the cultural and social differences among clients (CS)

Analyze target, message, cost, dostrobutiom

Use companies information about Demographics, Geographics, Psychographics and Behavioral patterns

Using these, we can see certain cultural and social groups preferences, and things they would rather avoid, allowing us to tailor our communication to their standards

interpret business policies to customers/clients

Clear, concise explanation, no jargon

Explain their impact on the business, and especially the consumer

handle difficult customers

Listen to what they have to say, let them let it all out respond in a calm, concerned, friendly tone, never act defensive or offended, as this will agitate them further

Know when to escalate

handle customer/client complaints

Listen to what they have to say, let them let it all out respond in a calm, concerned, friendly tone, be knowledgeable about their problem and attempt a solution, know when to escalate

identify company's brand promise

Brand promise - extension of a company's positioning à an expected tangible benefit that creates desire for a product or service and

differentiates from other competitors

determine ways of reinforcing the company's image through employee performance

employees= customer's perception of the company, front lines

all the ads in the world can't change their perception if your employees dont give off a good impression

Clean, professional friendly, we don't want those who hate work, who slouch and lounge around

Through that, and consistent customer relations ( quick and fast replies to inquiries, professional help, basically employee customer interactions) we can create a good image of our company

distinguish between economic goods and services

Products and services are how businesses get money

Products are tangible items like food, clothing, machines, etc.

Services are non-tangible things like baby-sitting, tutoring, etc.

explain the concept of economic resources

Resources are finite things that companies need to run their business. They include:

Natural resources (land, water, oil, etc.)

Human resources (workers)

Capital (money, machines, and goods)

describe the concepts of economics and economic activities

economics - the branch of knowledge concerned with the production, consumption and transfer of wealth economic activities - production, distribution and consumption of commodities

explain the principles of supply and demand

If there is a large quantity of an item and a low demand for the item, prices will be lower. (Think pencils)

If there is a low quantity of an item and high demand for the item, prices will be high. (Think diamonds)

describe the functions of prices in markets

it all depends on supply and demand and the item you are putting price on

explain the role of business in society

Society needs business to work, even if it is just bartering or trading.

Business shapes society (the state of the economy influences the way that people live).

Business bring changes and innovations to society.

Society also changes business by giving rules that they have to abide by (social norms).

describe types of business activities

Operations - improving quality/efficiency

Marketing - improving product appeal to consumers

Finance - recording financial transactions to make recommendations, filing reports to banks and gov.

explain the types of economic systems

Traditional: bartering and trading resources, goods, and services

Command Economy: government controls the economy by how to use and distribute goods and services

Market Economy: each person makes their economic decisions; government does not control who buys what; based on the laws of supply and demand

Mixed Economic System: Market based economy where the government controls some aspects of what is sold, and who can buy

identify the impact of small business/ entrepreneurship on market economies

Small businesses and entrepreneurs can freely operate and persuade consumers to purchase their products in order to easily profit.

explain the concept of private enterprise

Business activities that are not controlled by the state

E.g. Bob decides to open up a car garage, the state does not own his garage

identify factors affecting a business's profit

Profit Margin: How much a business spends versus how much they make

Costs include:

Investment costs, operating costs, maintenance costs, material damages, production losses, etc.

Other factors include state of the economy (bad economy, people spend less)

determine factors affecting business risk

Employees, vendors, and customers can file suit, and uninsured office buildings can impose economic downturn on a business.

explain the concept of competition

It makes customer service better

It gives businesses and individuals a reason to be innovative

It identifies the strengths and weaknesses of companies

It gives consumers the best good/service for the lowest price

determine the relationship between government and business

Business influences the government by:

Choosing whether or not they will back certain politicians, and therefore, certain ideas

Forming trade unions

By making political action committees

Effect government policies with their large investments

Governments influence businesses by:

Making laws and regulations that determine what can be sold, who can buy it, etc.

Having government agencies that help workers, small businesses, and people who are trying to get jobs.

explain the concept of productivity

Productivity is the speed at which an employee or group of employees completes tasks.

manage commitments in a timely manner

Commitments should be managed in a timely manner by not procrastinating, and utilizing sequential tasking. If applicable, multitasking can be a powerful productivity tool.

maintain the confidentiality of others

Confidentiality is the protection of private information and employees must not violated by spreading personal information of others' to third parties.

exhibit cultural sensitivity

Cultural sensitivity is the ability of an individual to understand and relate to people of other races/cultures through ways such as refraining from racial slurs and accepting others' differences.

use conflict-resolution skills

Conflict can be resolved through collaboration, compromise, or avoidance.

explain the nature of office politics

Office politics is a scenario in which multiple employees battle for dominance over decision-making. It can be helpful (clear leader) or harmful (uncontrollable conflict).

overcome problems and difficulties associated with office politics/ turf wars

By using negotiation techniques, office drama can be resolved in an effective manner.

participate as a team member

Teamwork includes leadership and collaboration. By providing input to a task and facilitating new initiatives, employees can be better team members.

explain the concept of leadership

Good leaders are:

Ethical

Respectful

Objective

Open-minded

Skilled in the field that they lead

Good communicators (both talking and listening)

determine personal vision

Determine personal vision. Personal vision can be defined as one's goal in life

demonstrate adaptability

capable of being adapted to change or anything that is going around in that time period

develop an achievement orientation

It is important that employees develop cognition and behavior relative to the interpretation and reaction to a variety of tasks.

lead change

Leaders should initiate positive feedback through methods such as assessing the current scenario, finding areas for improvement, brainstorming solutions, and implementing a course of action.

enlist others in working toward a shared vision

Collaboration is a powerful tool and it is important that fellow workers exhibit personality traits such as motivation, positive attitude, empathy, and conflict resolution skills in order to form the perfect work team.

coach others

encouraging people is a benefit to whatever you are trying to accomplish since it can help you. coaching others to persuade them to do their job will help the company keep moving forward and the employees will feel happy because they are getting help that they didn't ask for.

foster positive working relationships

Positive working relationships can be fostered through methods such as appreciating others, being positive, and building rapport with co-workers and clients.

explain the time value of money

The time value of money is the increase of an amount of money due to interest earned over time or dividends paid. It is the idea that money invested now is worth more later

because you would earn interest or dividends on it. Interest is money you earn over time as a percentage of the principal, or the original amount of money on deposit.

Finding the future value of your original deposit is called compounding. With compounding, your money increases in value faster and faster over time. Figure the future value of your money by multiplying the principal by the annual interest rate, and then adding the interest to the principal. You can determine this future value for as many years as your money will be in an account.

explain the purposes and importance of credit

Having good or bad credit determines whether or not people can be approved to get credit cards, take out loans, buy cars, start businesses etc.

Credit shows how financially responsible a person is based on how they pay their bills and what debt they are in.

explain legal responsibilities associated with financial exchanges

Legally speaking, a sale is a contract in which ownership of goods transfers immediately from the seller to the buyer for a price. If the transfer of ownership will take place at a future date, it is called a contract to sell, rather than a sale.

According to the Uniform Commercial Code (UCC), goods are tangible, movable personal property. Payment occurs when the buyer delivers the agreed price and the seller accepts it. The receipt of goods is when the buyer takes physical possession of the goods. A court may find that a contract is unconscionable, or grossly unfair to one party or another. In such a case, the contract may be voided or limited.

explain the nature of financial needs

One aspect of developing a financial plan is to know the difference between your needs and your wants. Furthermore, you need to prioritize your needs and wants as you set your financial goals. As you do so, keep in mind your attitude toward money and ask yourself if something is more important to spend money on now or to save for the future.

Having choices with money comes with a cost and with risk. Opportunity cost is the trade off of giving something up when choosing one thing over another. Financial risks that you should consider include the risks of inflation, rising or falling interest rates, loss of income, and liquidity. Liquidity is the ability to convert assets into cash without loss of value.

set financial goals

Financial goals involve setting a budget of money that is to be used for purchase, money to be invested in stocks/bonds, and money to be saved in raw form for future use.

develop personal budget

A personal budget must fit constraints including being under the net income of the individual and covering all necessities such as food, water, shelter, clothing, transportation, leisure, etc.

demonstrate the wise use of credit

people only use credit because they don't have enough money to pay for a certain item or items and paying with credit usually leads to debt

validate credit history

Credit history should be checked frequently to ensure that all existent debts have been paid and that no nonexistent debts have been paid.

protect against identity theft

Individuals should avoid sharing personal information such as social security number (SSN) and credit card number to prevent identity theft.

prepare personal income tax forms

All documents should be gathered and all necessary information should be recorded, such as sources of income, amount of income, and sums of tax-deductible donations.

describe types of financial services provider

A commercial bank is an institution that offers a full range of financial services, such as checking, savings, and lending. A savings and loan association is a service provider that may specialize in savings accounts and mortgage loans, but now offers a wide range of services. Mutual savings banks specialize in savings accounts and mortgages. Credit unions are nonprofit institutions that are owned by its members. Traditionally, the members of a credit union have a common bond such as employment with the same company. Credit unions offer a full range of financial services.

Non-deposit financial institutions include life insurance, investment, finance, and mortgage companies. Such companies specialize in their respective industry but may

offer other financial services as well. Finance companies offer higher interest rates loans to individuals and businesses that cannot borrow elsewhere, often due to credit problems

explain types of investments

Bonds: by purchasing a bond, you are lending money to a company or business—in return the company or government will eventually pay you back

Stocks: by purchasing stock, you are essentially buying a piece of the company, so you can vote as a shareholder and say what the company can or cannot do

Mutual funds: a collection of stocks and bonds that is held by a group of people. By investing in a mutual fund you are sharing in your part of the risk and your part of the reward

describable the concept of insurance

An insurance policy is a contract between a business or individual and an insurance company to cover risks. Business risks include economic risks, natural risks, and human risks. Insurance companies estimate the probability of loss due to risk and determine a rate to charge for the policy, called a premium.

Property insurance is one common type of insurance, which covers loss or damage to buildings and equipment. Property insurance can be purchased to cover full replacement cost, automatic increase protection, and business interruption. Liability insurance is a form of insurance that protects against damages for which a business or individual may be liable, including injury or property damage to others.

describe the need for financial information

Financial information includes raw data, records, and reports. Consumers are essentially buying information when dealing with financial services providers; businesses rely on accurate financial information to make sound decisions.

Financial services products are bought and sold based on information about costs, returns, and risks. Financial information is used to match company resources to its planned activities and to identify additional resources that may be needed or secured. Businesses use information to identify ways to reduce expenses and invest company assets. Also, information is used to forecast for future budgeting and growth, as well as to control and manage risk.

Other pieces of information that are required include sales, inventory, operating systems, personnel costs, insurance expenses, tax liability, and profitability. In addition,

information must be collected regarding external factors such as economic conditions, investment alternatives, and competition.

explain the concept of accounting

Keeping financial records so that an individual or business can see where their money is coming from, what it is going to, and how they can spend their money more efficiently.

explain the role of finance in business

Finance is the function of business that pertains to money management. A financial plan is an important element of an overall business plan. Elements that pertain to the role of finance in a business include start up/equity financing, debt financing, and growth financing. Various financial statements, such as a balance sheet and income statement, provide a way to analyze a company's overall financial standing.

Managing your business' finances will include planning for profits by forecasting sales, evaluating profit potential, controlling costs, and budgeting. Business financing also requires managing taxes and credit.

discuss the nature of human resources management

The department in a business that is responsible for attracting, selecting, training, hiring, and rewarding employees within the business.

orient new employees

New employees should know all major company policies, as well as how to dress, act, behave, and perform their duties.

explain marketing and its importance in a global economy

To remain competitive, companies must often market their product to the entire world, instead of just a small group

The product, price, placement, or promotion of a product or service will vary across the world

By marketing globally, companies like Coca-Cola and Starbucks are known and trusted worldwide

describe marketing functions and related activities

distribution, financing, marketing information management, pricing, selling, promotion, and product service management is all about marketing functions all of these functions make marketing.

assess information needs

you have to know who your audience is by finding out their age, race and also find out the materials needed

obtain needed information efficiently

Surveys can be used to obtain information on customer feedback, while federal documents can be a source of demographic data.

evaluate quality and source of information

If the author's credentials are valid, the quality from the source is likely to be higher.

apply information to accomplish a task

this means to do stuff to accomplish a task that you are working on by putting specific details to the plan you have.

store information for future use

Information can be stored in electronic spreadsheets and physical documents.

discuss the nature of information management

Information management is the concept of storing information on various data and applying it to business sectors such as marketing and finance.

use an integrated business software appplication package

integrated business software application packages (such as Google Apps for Business) include word processing, presentation, and spreadsheet applications.

demonstrate collaborative/groupware applications

email, database, talk program, video conference