Hospitality
Which hotel department is responsible for cleaning rooms and public spaces?
Housekeeping
What does ROI stand for in finance?
Return on Investment.
What are the “4 Ps” of marketing?
Product, Price, Place, Promotion.
What is an entrepreneur?
A person who starts, manages, and takes on the risks of a business.
Which of the following is a primary function of Human Resources Management (HRM)?
Recruiting, training, and compensating employees.
What does “front desk” staff primarily handle in a hotel?
Check-ins, check-outs, and guest inquiries.
What is the term for money an individual or company owes?
Debt.
What is the term for a specific group of consumers a company aims its product toward?
Target market.
What is a business plan?
A written document outlining a company’s goals, strategies, and financial projections.
What does “organizational structure” refer to?
How roles, responsibilities, and authority are arranged within a company.
What is the main goal of the hospitality industry?
To provide comfort, service, and satisfaction to guests.
What is a company’s profit called after all expenses are deducted from revenue?
Net income.
What does “brand loyalty” mean?
When customers consistently choose the same brand over competitors.
What is a common characteristic shared by successful entrepreneurs?
Willingness to take risks.
What is the term for a plan that outlines a company's goals and how it will achieve them?
Strategic plan.
What is the term for promoting a destination to attract visitors?
Tourism marketing.
What does the term “diversification” mean in investing?
Spreading investments across different assets to reduce risk.
What is the purpose of market research?
To gather data about consumer needs, preferences, and market trends.
What is an elevator pitch?
A short, persuasive business summary that can be delivered in 30–60 seconds.
What is a KPI in business?
A Key Performance Indicator used to measure how well a company is achieving its objectives.
What does ADR stand for in hotel management?
Average Daily Rate.
What is a credit score used for?
To measure an individual's creditworthiness and ability to repay loans.
What does SEO stand for in digital marketing?
Search Engine Optimization.
What does “startup capital” refer to?
the money needed to start and launch a new business.
The primary goal of a for-profit business is to maximize what for its owners or shareholders?
Profit.