1. Select the factor (s) from the list below that is (are) appropriate to complete this phrase: In choosing a new planning approach, most complex organizations will need to__________________.

a) Experience some change of corporate culture

b) Ensure that the objectives of the organization are known

c) Experiment with several different approaches during the course of the year

d) Choose an approach that guarantees success

2. The 5 key drivers to be considered in determining the complexity level of a hotel business for planning purposes are: Seasonality, diversity of customer segments, interdependence of business units, globalization and...

a) Key count

b) Location

c) Organizational structure

d) Accounting software

e) Experience of ownership

3. Identify from the list below some of the characteristics of basic planning systems in order to complete the following phrase:

Basic planning systems are________________________________________________

a) Characterized by their dependence on off-line systems and spreadsheets.

b) Typically good at connecting business strategy, objectives, targets, budgets and forecasts.

c) Often focused principally on meeting budget deadlines.

d) Accurate enough for nearly all commercial hotels.

4. Is this sentence suitable in the context of managing the performance of a hotel business?

Using a Balanced Scorecard is a guaranteed way to create a link between strategy, objectives, targets, budgets and forecasts.

a) No

b) Yes

c) It depends

5. Complete the following sentence using one of the words in the list below that best describes the situation.

When a hotel has reached stabilization, integration between finance and operations becomes_______

a) Unnecessary

b) Difficult

c) Useful

d) Risky

6. Select the group of words missing from the following statements about the benefits of taking an integrated approach to planning.

An integrated approach to planning allows for better control over _____. Knowledge can be brought into the planning process to improve _______ and production capacity requirements. ____ targets can be translated into staffing requirements, departmental ______ and forecasts, and also productivity targets on a cost per unit basis.

a) Profits, Budgets, Revenue, KPI

b) Costs, Forecasts, KPI, Budgets

c) Investment, Strategy, Profit, Budgets

d) Costs, Strategy, Profit, Management

7. Which of the statements below is (are) NOT a strategy (ies)?

a) Become the market leader in the luxury segment

b) Be the hotel of choice for the millennial market

c) Increase revenue by 20%

d) Maintain profits at last years level