Deck 4: The Hospitality and Tourism Industry Context

Question 1

When classifying and defining an environments' category, one should refer to the ____ and ____ perspectives.

A) Positive and Negative
B) Inward and Outward.
C) Manager and Employees
D) Micro and Macro

Answer 1

D

Question 2

An environment that includes firms, individuals, systems and institutions is known as…

A) Internal environment
B) External environment
C) Volatile Environment
D) Opportunistic environment

Answer 2

B

Question 3

Duncan (1972) refers to the organizational level to include____ as a component.

A) Products, Services, Goals and Objectives
B) Operations, Sales and Marketing, Human Resources, and Administration
C) The External Environment
D) Porters 5 Forces

Answer 3

A

Question 4

The 4 components of a SWOT analysis consist of…

A) Safety, Water, Oceans, and Tides
B) Strengths, Weakness, Opportunities, and Threats
C) Success, Winning, Openness, and Trade
D) Shortcomings, Wages, Objects, and Triumphs

Question 5

Environmental uncertainty can be defined as:

A) The difficulty of the firm's managers to accurately predict the occurrence of an event
B) The availability of slack resources and the opportunities for firms to grow
C) The unfavorable conditions in the firm's task environment
D) The rate of change related to factors in the external environment

Question 6

Environmental volatility can be defined as:

A) The difficulty of the firm's managers to accurately predict the occurrence of an event
B) The availability of slack resources and the opportunities for firms to grow
C) The unfavorable conditions in the firm's task environment
D) The rate of change related to factors in the external environment

Question 7

Environmental munificence can be defined as:

A) The difficulty of the firm's managers to accurately predict the occurrence of an event
B) The availability of slack resources and the opportunities for firms to grow
C) The unfavorable conditions in the firm's task environment
D) The rate of change related to factors in the external environment

Question 8

Environmental hostility is an unfavorable condition in the _____ environment.

A) Macro
B) Market
C) Task
D) Micro

Question 9

Market hostility is an unfavorable condition in the ____environment.

A) Macro
B) Market
C) Task
D) Micro

Question 10

Environmental dynamism is reflected into the H&T industry with a ____ day shift from high-peak to low-peak seasons.

A) 90
B) 180
C) 270
D) 365

Question 11

The static-dynamic dimension can be described as the following:

A) Refers to the number of factors or variables that influence the environment
B) Refers to the degree of change over time related to the factors of variables pertaining to the internal and external environments
C) The amount of change in the firm's external environments as well as the number of factors in the environmental categories
D) The rate of change related to all factors in the external environment

Question 12

A PESTE analysis consist of

A) Paramedics, EMT's, Stabilization, Traumas, and Evacuation
B) Parenting, Education, Schools, Tests, and Exams
C) Political, Economic, Sociocultural, Technological, and Ecological
D) None of the Above

Question 13

A firm that is ethically responsible and strategically values sustainability, looks at the impact of ____ forces.

A) Macro
B) Market
C) Task
D) Micro

Question 14

An influence on firms to charge higher prices for materials is:

A) Buyers Bargaining Power
B) Suppliers Bargaining Power
C) Competition among industries
D) None of the above

Question 15

What attributes compile the Five Forces Model?

A) New Comers, Substitutes, Suppliers' Bargaining Power, Competition among industry incumbents, and Technology
B) Competition among the industry incumbents, Suppliers' Bargaining power, Consumer behavior, Technology, and Substitutes
C) Buyers' Bargaining Power, Consumer Behavior, Technology, New Comers, and Competition among industry incumbents
D) Buyers' Bargaining Power, Substitutes, New Comers, Suppliers' Bargaining Power, and Competition among industry incumbents

Question 16

The alignment between a firms' internal resources and capabilities and external opportunities is called ____.

A) SWOT analysis
B) PESTE analysis
C) Strategic Fit
D) Strategic Balance

Question 17

Unfavorable conditions in the general or macro environment is called:

A) Market Hostility
B) Environmental Turbulence
C) Dynamic Environment
D) Environmental Hostility

Question 18

A change in the mortgage and interest rates in a country due to an economic downturn is an example of…

A) Environmental Turbulence
B) Environmental Dynamism
C) Market Hostility
D) Environmental Volatility

Question 19

The number of factors or variables that influence the environment is a _____ dimension.

A) Static-Dynamic
B) Permanent
C) Flexible
D) Simple-Complex

Question 20

Human resources, organizational functions, and organizations levels are the three components to the internal environment.

Question 21

Operations, sales and marketing, human resources and administration are a part of the organizational level.

Question 22

Strengths and Weakness are formulated from the external environment.

Question 23

A situational analysis of a firm from its current position in the market is a PESTE analysis.

Question 24

An environment in which the scope for growth is limited is Illiberality.

Question 25

Complexity refers to the number of factors in the environment.

Question 26

The degree of change over time related to the factors of variables pertaining to the internal and external environments is known as the simple-complex dimension.

Question 27

Changes in rules, regulations, and Laws that affect the business environment must be tracked by the firm.

Question 28

Business and Economic cycles do not impact the H&T industry.

Question 29

Conceptualization and development of products and services in the tourism industry should be fact based.

Question 30

All businesses want to make a profit and please their shareholders. Find a company that was negatively economically impacted by the consumer's confidence in the service that was provided. Discuss what happened, how the company addressed the situation (internally and externally), and what changes were made to re-instill consumer confidence in the brand.

Question 31

With the advancement of technology in the H&T industry. What entity would you consider improving or developing to increase efficiency for employees or consumers? Why would you select this entity? How will it add value to the company you work for and consumers that you interact with?

Question 32

When comparing the five forces models attributes each other, which of the five forces do you believe is the strongest to create competition in the industry? Why? Please use an example from the H&T industry to explain your answer.