In today’s ever competitive business environment companies are constantly competing for business and the market has become more demanding and difficult to break into. In order for companies to be successful it is necessary to conduct market research and make calculated decisions in order to mitigate financial losses. There are many steps that an organization can follow to achieve the following however we have highlighted a few important aspects below that the Protea OR Tambo hotel can consider when embarking on such an exercise.
The below information will also highlight the roles and responsibilities and the importance of the night auditor.
QUESTION 1
1. The key objectives of a market and financial feasibility study
Most people lump market
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If the restaurant is located in a remote location and hard to find,accessibility is compromised. If, on the other hand, a restaurant is located in an area that is easily found and within proximity to potential guests, its availability for potential selection of dining choices is enhanced. In their interest in identifying site selection factors for U.S. franchise restaurants, Park and Khan’s (2005) factor analysis of 56 variables concluded general location as being the primary factor necessary for the success or failure of franchise restaurants – Journal article food service pg …show more content…
A night auditor is a person who works at night at the reception of a hotel. They typically handle both the duties of the front desk agent and some of the duties of the accounting department. This is necessitated by the fact that most fiscal days close at or around midnight, and the normal workday of the employees in the accounting department does not extend to cover this time of day.
In larger hotels, night auditors may work alongside other nighttime employees, such as security officers, telephone attendants, room service attendants, and bellhops. In smaller hotels and motels, the night auditor may work alone, and may even only be "on-call", meaning that once he or she completes running the daily reports, the auditor retires to an area away from the desk while remaining available to attend to unexpected requests from guests. In the smallest hotels and some bed and breakfast establishments, the front desk may close entirely overnight. Guests in such facilities are typically given a contact number for an employee or manager, who may be sleeping on the premises or live nearby, for use in case of
One of the key objectives of tracking the hours worked by individual accounts assignments on an audit is to have documentation to show the client why they are charging them what they are been billed and how much time was spent in their audit engagement. This way the client can clearly see that all the time reported and charged to them was actually worked in certain part of their engagement. Another objective of tracking hours is to show how much time was spent on individual accounts and determine which accounts require more time. This will alert for staff and managers to assess that account and investigate why so much time it is spent on that account. This process could possibly make the manager aware that there could be a problem with such account. Another objective of tracking the hours is to measure
In this paper I will attempt to explain the strengths and weaknesses of a restaurant. I also will attempt to show one way how they can utilize their strengths and minimize their weaknesses To be competitive. I will further explain how their ability to have Stylish Restaurants with Ever Changing Decor, their online and call in orders, Online and Phone reservations, Premium Cocktails, Ruby Tue Go, Full Service Catering, and Extensive Menu Variety give them a competitive edge in their market. With their online and call ahead service called Ruby Tue GO it gives you the ability to order your food before you lunch hour and stop by to pick it up saving yourself a considerable amount of valuable time. With being able to call ahead or go
The auditor’s responsibilities are to audit annual financial statements and internal controls over financial reporting, and reports from the 10-Q quarterly reports. The auditor must also advice on new accounting pronouncements, and consolidating financial statements. (Intel Proxy Statement 2011, 48)
Determining the impact of other restaurants is imperative for Chris and Erica in their start-up business. Initially, Chris and Erica should conduct reconnaissance of their start-up target location and determine the style of restaurants in the area, this will reveal if there are any immediate competitors to the type of restaurant they wish to open. If direct competitors are present, then Chris and Erica should do research on the restaurant’s customer satisfaction, menu, prices, and publicity. This study will determine if Chris and Erica could develop a niche such as superior customer satisfaction or low-pricing.
In this instance, the restaurant chain 's management wants to determine the best locations in which to expand their restaurant business. So far the most successful locations have been near college campuses. This opinion is based on the positive numbers that quarterly sales (y) reflect and the size of the student population (x). Management 's mindset is that over all, the restaurants that are
From the description of the case study, it seems that the reason lead the Portman Hotel to this terrible situation was that their HR policies were inconsistent with its strategies. The Portman Hotel's philosophy is that if they want their customers treated better, they must treat each other better. They also think the Portman Hotel is a place where they can make their employees feel satisfied with their jobs. Their jobs will be fun and they will fulfill their expectations. The employees will have the best work experiences. Besides, the Portman Hotel expects to be the best employer in San Francisco. They are willing to show their trust and pride in their employees. That's why the hotel considered their "associates" of the highest potential,
Good post! I enjoyed reading it. You said that the clergy provided the people with a link to the divine, something Marx would term as the “opiate of the masses.” I agree with you about implementing Marx’s social class structure into the Medieval Ages. The clergy was a social class during the Medieval Ages, and today, there is no class like that in the modern world, and also Marx did not mention about this kind of class, either. Of course, Marx’s social classes are typically different from the one in the Medieval Ages a little bit because today’s workers cannot buy labor power, but they sell their labor power.
1. Executive Summary 2. Situation Analysis a. Market/Company situation b. Market segments c. Competitive situation d. Barriers to entry e. Strength of competitors f. Sustainable advantages g. Pricing issues 3. Macro Situation a. Economy b. Social/cultural 4. SWOT Analysis a. Internal factors b. External environment c. External threats d. Internal weaknesses 5. Issue Analysis 6. Mission, Vision, Values 7. Market Analysis a. Primary market b. Secondary markets c. Tertiary markets d. Prospective customers 8. Proposed locations 9. Action Plans a. Brand awareness action plans b. New location action
According to authors Cooper and Schindler, The Study & Business research is the tools and process that is needed to lower the risk that may occur in decision making in Management. A business research inquiry is systematic and provides information that will help direct managerial decisions. A crucial aspect of any business venture is decision making. When an owner of a business is aware of his marketplace surroundings, he will be able to make decisions that are firm and have the ability to stand by them. A business owner will need to have an understanding that is complete with external factors that could possibly affect the owner’s business services, the products and overall business along with his or her business internal factors. The best solution for this dilemma is Business research. Business analysis is the systematic process of pulling together market data that is relevant, which is examined and arranged to draw the conclusions that are pertinent to your company. Essential information in these reports are in reference to the trends of the market, customer groups, and competitors demand segments and all of the marketplace key players. (Academia, (2015).
Even though the practice of underreporting hours is common in the audit world, with up to 71% of all auditors admitting to having done so at some point, we still believe that it is not an acceptable practice for many reasons. The key objectives of tracking hours worked by individual accounts or assignments on audit engagements are for the firm and the partners to determine that they meet the budgeted amount of hours or not; also, tracking hours can tell the auditors which accounts require more hours to work. In addition, the company bases the fees it charges on these hours, and timesheets also count as evidence to show clients how much time the auditors spend for each individual account. The amount of chargeable hours worked factors heavily
When looking at a restaurant, it is important to look at its overall location. The location can really make or break a restaurant. Restaurants that are located in diverse and populated areas tend to draw
The internal auditor have a several roles in the company which is the first one the audit committee need to discharge and restrict the governance responsibilities and the
Even though there are various benefits of organic farming there are certain issues still related to the same such as:
As the amount of pragmatic and empirical evidence that supports the theory of Psychosomatics, the connection between mind and body, increases, most health care experts are supporting the idea that a positive mental attitude is an essential element to the development of good overall health. According to a report by the Harvard School of Public Health, having a more positive outlook on life significantly lowered the risk of heart disease in older men. Additionally, researchers from the University of Pittsburg revealed that they discovered that women who have an optimistic view of life are less likely to experience the thickening of the carotid artery walls.
In Hamlet, the main character of the story is known for being pretty crazy from all the unfortunate events that has lead up to him being the way he is. There is so much talked about hamlet throughout the story that it is never clearly proven that he has gone mad, there can only be assumptions. In the play, hamlet goes on these rants that are poetic in some way which are the closest forms of proof that we have that backs up the idea of him being mad or insane. For the most part, these moments hamlet has is just for show meaning he’s faking being mad and delusional.