Revenue

• Hospitality and tourism is the largest and fastest growing industry in the world
• Human needs


  • Accommodation
  • Food and Beverage
  • Transportation
  • Gaming
• Why people travel


  • Holiday
  • Leisure
  • Medical Purposes
  • Religious Purposes
  • Education Purposes
  • Sport
• Guests


  The customers of the hospitality and tourism industry
• Guest characteristics


  • Age
  • Gender
  • Cultural Background
  • Reasons for travelling
• Guest needs


  • Basics of staying away from home is a "bed" and "food and beverage"
  • Some customers may require entertainment and activities
• Forms of business organization

  • Partnership
  • Sole Proprietorship
  • Corporation
• Partnership


  • Two or more persons bind themselves to contribute money with the intention of dividing the profits among themselves
  • Has a juridical personality separate and distinct from each of the partners
  • Required to operate under a firm name
• Sole Proprietorship


  • The owner is in command
  • The establishment, operations and management is not governed by a special law
  • Registration is done through Bureau of Trade Regulation and Consumer Protection
• Corporation


  • Sec.2 of the Batas Pambansa 68. Known as Corporation Code of the Philippines
  • Defined as an artificial being created by operation of law
• Corporation attributes


  • It is an artificial being
  • Created by operation of Law
  • It has the power of succession
• Forms of partnership


  • General Partnership
  • Limited Partnership
  • Limited Liability Partnership
• Types of partners


  • General Partners
  • Limited Partners
  • Silent Partners
• Advantages of corporate forms of business

  • Strong legal personality
  • Limited liability to investors
  • Free transferability of units of investments
  • Centralized management
• Why study management: A vested interest in improving the way organizations are managed, organizations that are well managed find ways to prosper even in challenging economic times, after graduation most students become managers or are managed
• Managers


  Responsible for the processes of getting activities completed
• Organization


  A deliberate arrangement of people brought together to accomplish a specific purpose
• Common characteristics of organization

  • Distinct Purpose
  • People Working Together
  • A deliberate systematic structure
• Types of organization


  • Flat Organization
  • Divisional Organization
  • Matrix Organization
• Factors to consider when choosing an organizational structure

  • Size
  • Life Cycle
  • Business Environment
• Types of managers


  • Top Managers
  • Functional Managers
  • Supervisory or Team Managers
  • Line Manager
  • Staff Manager
  • Project Manager
  • General Manager
• Management levels


  • Top Managers
  • Middle Managers
  • First-Line Managers
  • Nonmanagerial Employees
• Empowerment


  Process of enabling or authorizing an individual to think and decision making in autonomous ways
• The changing roles of management and managers: Top managers traditionally ensure the organization's competitiveness and lower level managers and employees job security, lower-level managers traditionally implement top management's strategy with loyalty and obedience, empowered lower-level managers in contemporary organizations focus on the organization's competitiveness and their own development, top management in contemporary organizations support personnel development and ensure employability
• Managerial roles


  • 10 managerial roles
• Skills managers need


  • Conceptual Skills
  • Interpersonal Skills
  • Technical Skills
  • Political Skills
• Nonmanagerial employees


  People who work directly on a job or task and have no responsibility
• Managers


  Who directs the activities of others
• Efficiency and effectiveness
• Four management functions


  • Planning
  • Organizing
  • Leading
  • Controlling
• Manager's job is influenced by their level in the organization and whether the organization is for-profit or nonprofit
• Management activities by organizational levels


  • Top Managers
  • Middle Managers
  • First-Line Managers
• Factors reshaping and redefining management

  • Changing Workplaces
  • Ethical and Trust issues
  • Global Economic Uncertainties
  • Changing Technologies
• The formula for calculating gross revenue is Gross Revenue = Total Sales - Discounts/Returns
• Flat Organization


  A type of organization with a simple structure, few levels of management, and decentralized decision-making.
• Divisional Organization


  An organization divided into separate divisions based on specific criteria, such as product lines or geographical regions. Each division operates independently with its own management structure.
• Matrix Organization


  An organization that combines elements of both flat and divisional organizations, with employees organized into both functional departments and product teams. This allows for greater flexibility and collaboration, but can also lead to complex decision-making and communication challenges.