Need assistance in answering the following questions:
Problem 1. A hospitality organization has an opportunity to purchase a hotel located in the center of the city. A highway is located several miles away. What strategic objectives should the owners consider if they were to complete a SWOT analysis? (Identify one Strength, Weakness, Opportunity, and Threat).
Problem 2. What is the main goal of strategic management and what is its purpose.
Problem 3. What are some key tasks associated with the strategic objective implementation process?
Problem 4. What are the sources from which supervisors and managers in the hospitality industry use to calculate financial ratios of performance?
Problem 5. The _______________ ratio measures the management's ability to generate revenue and to control expenses.
Problem 6. A higher rate and controlled costs will increase the property's bottom line. This can be determined by calculating the _________.
Problem 7. Identify one process involved in the internal marketing process and briefly describe explain how this process is used to improve internal marketing.
Problem 8. What are the five key communication strategies in crisis management?
Problem 9. Identify an external threat to a hospitality firm and state what you would do to monitor and respond to the threat.
Problem 10. What leadership style would you most closely associate your style to and why?