HTM 402- Midterm Exam Guide - Comprehensive Notes for the exam ( 25 pages long!)

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTM 402
• Professor: Richard Wade

Document Summary

Five step process: where are we now, where do we want to be, how do we get there, how do we know if we are getting there, how do we know if we got there. Control procedures (during the year: done in advance, group of performance standards (benchmarks, progress measurement and reporting, corrective action. Evaluation procedures (towards the end of the year: performance management re-objectives, broad assessment of the entire organization re-marketing support and effectiveness. Also: must be substantial enough to make a difference, must be sustainable in the face of environmental change (economic, social, cultural, etc. ) and competitor actions, where possible should be leveraged into visible business attributes starbucks. Sustainable competitive advantage example tim horton"s. What (skills and assets: name (household) is an asset product quality skill. Where (one competes: consumer need moderately priced offering of staple menu items e. g. coffee, baked goods, soup, salads and sandwiches.