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Bell Ringers

Travel & Tourism

Concept of Productivity the output per worker over a set period of time;
Productivity Increases profits
Increasing Productivity investing in new equipment, technology or facilities, additional training, or increasing the responsibilities of workers
Business Cycle Series of recurring changes in economic activity
Business Cycle Stage 1 Expansion, flourishing economy
Business Cycle Stage 2 Recession, economic slowdown lasting at least two quarters
Business Cycle Stage 3 Trough, low point in a business cycle, transition
Business Cycle Stage 4 Recovery, demand increases and businesses respond by hiring supplying more
Production the process of creating, expanding, manufacturing, or improving on goods and services
Exhibit Self-Confidence Personal hygiene and dress, also shown through relationships and work habits
Service Marketing based on an impression of the environment, the staff, and the attention given to the customer
Product Marketing based on a tangible product that the customer can use
Operations the daily activities that provide successful outputs for the business. Facility management, logistics, scheduling, information management, safety, and security
Personnel Regulations are put in place to protect the employees. Health, safety, discrimination, and provide adequate compensation through pay pay and benefits
Workplace Regulations put in place to protect workers
OSHA (Occupation Safety and Health Administration) a broad set of rules that protects workers in all trades and professions from unsafe working conditions
ADA (Americans with Disabilities Act) put in place to prevent employers from discriminating against potential and existing employees with disabilities
ADA Title III makes hospitality services make reasonable modifications to policies, practices and procedures to give people with disabilities access to their facilities
Restaurant Compliance with Health Codes Food Handler's Certificate and Understand Health Codes
Price Stability a factor that can enable economic growth
Common Stock a unit of ownership of a company that entities the owner to voting privileges
Preferred Stock a type of stock that gives the owner the advantage of receiving cash dividends before common stockholders receive them
Stocks attractive as an investment because owners share in the success of the company
Corporate Bond a corporation's written pledge to repay a specific amount of money, plus interest
Government bond written pledge of a government or municipality to repay a specific amount of money, plus interest
Buying a bond lends money to a corporation or government entity for a period of time
Mutual funds investments in which investors pool their money to buy stock, bonds, and /or other securities
Professional managers work for an investment company; can be beneficial to inexperienced investors
Giving Directions Local map, written driving directions, and provided with easily recognized landmarks
Local sites/events info pamphlets, posters, a community event listing, local directory or recommentations from staff
Pre-Departure briefing Heath, Meds, Baggage, Documentation, Travel Insurance, Currency
TTY Teletypewriter; used by deaf clients to make calls/relay service.
TRS telecommunications relay service (hearing) to (deaf)
Exchange Rates determined by Balance of payments, Economic conditions, Political Stability
Balance of Payments a positive balance of payments creates a stable or rising currency
Economic Conditions inflation and interest rates can affect a countries currency rate
Political Stability a stable political environment creates a stable currency
Gratuity is given when the customer is happy with the service provided
Statistics used to describe and summarize data in order to make the date more meaningful and easier to understand
Central Tendency an estimate of the center of a distribution of values, including mean, median, and mode.
MIS Management Information systems
Portion Cost Total cost of recipe ingredients/ number of portions
Total Meal Cost Add all portion cast for a meal together
Organizational Buyer purchases goods for business purposes
Straight Rebuy a buyer routinely orders the goods or services from the same vendors as in the past
Modified Rebuy where the buyer has had experience buying the good or service but some aspect of the purchase has changed
Average Daily Seat Turnover Average number of times a seat is filled during the day
Average Check Average food and beverage spending per guest
Sales Per Square Foot Sales divided by the size of the property
Total Sales the sum of sales, minus discounts
Gross Sales total sales plus total sales tax
Cash at End of the Day Physical count of all cash in register
Cash at Start of the Day beginning balance of cash in register
Total Cash Revenue cash at end of day minus cash at start of day
Total Card revenue amount collected from credit, debit and gift cards
Total revenue total cash revenue added to total card revenue this amount should be equal to the gross sales
Created by: barrettal



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