HTT 605- Midterm Exam Guide - Comprehensive Notes for the exam ( 12 pages long!)

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTT 605
• Professor: Judy Healy

Document Summary

The difference between external and internal incentive programs. How the company motivates consumers roll up the rim/lottery tickets. Not designed like a lottery - not a luck of the draw. It must be earned and many participants can win. Increase productivity = increase level of performance = higher results. Increase sales = more revenue = more profit = more money is accessible to the bottom line. Need to recruit and retain the best people. Need to provide ongoing training and upgrading opportunities for employees to advance. Need to create an entrepreneurial atmosphere to encourage. Need to create an entrepreneurial atmosphere to encourage creativity by staff - share best practices. 80% of your success if driven by 20% of your employees. Can be designed for : an individual a department a store/division/branch a region the entire company. Goals and objectives + financials + qualifications + marketing = reward. Most people want it, but it is the worst kind of incentive.