We read your photo as:

Briefly state and explain the five management functions in tourism and hospitality.

Economics

ScanSolve AI Answer

Question 1 (4 marks): Factors of production in tourism and hospitality sector

Land: Natural resources such as beautiful landscapes, beaches, climate, and wildlife attractions.

Labour: Human resources including skilled staff like chefs, tour guides, and hotel managers.

Capital: Man-made resources like hotels, transport vehicles, and equipment.

Entrepreneurship: Risk-taking innovators who organize the other factors, e.g., hotel owners.

Factors: Land, Labour, Capital, Entrepreneurship\boxed{\text{Factors: Land, Labour, Capital, Entrepreneurship}}

Question 2 (4 marks): Four measures of national income

\begin{align*}
&1. Gross Domestic Product (GDP)\ &2. Gross National Product (GNP)\ &3. Net National Product (NNP)\ &4. National Income (NI at factor cost)
\end{align*}

GDP, GNP, NNP, NI\boxed{\text{GDP, GNP, NNP, NI}}

Question 3 (4 marks): Differences between fixed costs and variable costs

Fixed costs remain constant regardless of output level. Variable costs change with output level.

Examples of fixed costs: Rent, Insurance.

Examples of variable costs: Raw materials, Direct labour wages.

Fixed: constant (rent, insurance); Variable: vary (materials, wages)\boxed{\text{Fixed: constant (rent, insurance); Variable: vary (materials, wages)}}

Question 4 (4 marks): Two examples of business contributions to taxes

  1. Paying corporate income tax on profits.

  2. Collecting and remitting Value Added Tax (VAT) or sales tax from customers.

Corporate tax, VAT\boxed{\text{Corporate tax, VAT}}

Question 5/9 (5 marks): Five management functions in tourism and hospitality

  1. Planning: Setting objectives, e.g., forecasting tourist arrivals.

  2. Organising: Arranging resources, e.g., staffing hotels.

  3. Staffing: Recruiting and training employees like guides.

  4. Directing/Leading: Motivating staff to provide excellent service.

  5. Controlling: Monitoring performance, e.g., guest satisfaction surveys.

Planning, Organising, Staffing, Directing, Controlling\boxed{\text{Planning, Organising, Staffing, Directing, Controlling}}

Question 6/10 (1 mark): What is management?

Management is the process of planning, organising, leading and controlling organisational resources to achieve goals efficiently.

Planning, organising, leading, controlling resources to achieve goals\boxed{\text{Planning, organising, leading, controlling resources to achieve goals}}
Was this helpful?

Still stuck on this one?

Ask a follow-up, and the answer starts from this question.

Got a different question?Ask your own question