Copyright

Ch 3: Key Management Functions in the Hospitality Industry

About This Chapter

Use the fun lessons in this chapter to learn all about the hospitality industry's key management functions. Review the lessons at your own pace, and use mini quizzes to test your understanding as you work to improve your grades in school, excel in your career, or gain knowledge as a casual learner.

Key Management Functions in the Hospitality Industry - Chapter Summary

The hospitality industry encompasses a wide variety of sectors, offers numerous services and employs an abundance of workers that all need to be managed. Take a look at key management functions that ensure the industry operates smoothly at every level. Lessons are available any time to ensure you're able to learn at your own pace. With each lesson is a short quiz designed to assess your hospitality industry knowledge. If you need to clarify details in this chapter, be sure to send your questions to our experts. Completing this chapter enables you to:

  • Discuss the hospitality industry's management of projects and revenue
  • Explain the purpose of managerial accounting in the hospitality industry
  • Share the importance of managing technology in hospitality
  • Describe risk, strategic and crisis management in the industry
  • Discuss the importance of waste management in hospitality
  • Provide details about hiring and firing staff and other aspects of human resource management
  • Examine the gap between traditional functions in management and the actual behavior of managers

10 Lessons in Chapter 3: Key Management Functions in the Hospitality Industry
Test your knowledge with a 30-question chapter practice test
Project Management in the Hospitality Industry

1. Project Management in the Hospitality Industry

This lesson will cover the various aspects of managing a project in the hospitality industry. The key is to modify your project management approach to take into account the unique aspects of businesses in the hospitality industry.

Revenue Management for the Hospitality Industry

2. Revenue Management for the Hospitality Industry

This lesson provides a definition of revenue management, a tool that is used to predict customer demand for a given product, and explores its application and importance in the hospitality industry.

Managerial Accounting for the Hospitality Industry

3. Managerial Accounting for the Hospitality Industry

This lesson examines managerial accounting in the hospitality industry. Managerial accounting is a critical activity as it encourages measurement and analysis of information with the aim of meeting organizational goals.

Managing Technology in the Hospitality Industry

4. Managing Technology in the Hospitality Industry

This lesson discusses the importance of managing technology in the hospitality industry and provides examples of technologies that are important to managing hospitality.

Risk Management in the Hospitality Industry

5. Risk Management in the Hospitality Industry

Hospitality providers face a unique set of risks to their daily operations. In this lesson, you'll learn more about specific risks and steps for implementing a risk management plan to mitigate them.

Strategic Management in the Hospitality Industry

6. Strategic Management in the Hospitality Industry

The hospitality industry offers a wide variety of services to consumers. It's a very competitive industry, so it's important to establish and operate with helpful management strategies. This lesson reviews four important hospitality strategies.

Crisis Management in the Hospitality Industry

7. Crisis Management in the Hospitality Industry

Being prepared for a crisis begins before a disastrous situation unfolds. In this lesson, you'll learn more about best practices in navigating crisis situations in the hospitality industry.

Waste Management in the Hospitality Industry

8. Waste Management in the Hospitality Industry

Providing rooms for guests can be very costly for hotels. One way to reduce that cost is to reduce wasteful habits. In this lesson, we'll learn about waste management habits and tips for the hospitality industry.

Human Resource Management: Hiring and Staffing

9. Human Resource Management: Hiring and Staffing

In this lesson, we will explore the role a manager plays in human resource management, including hiring and staffing. We will also look at the circumstances affecting employment decisions such as promotion, turnover, downsizing, job redesign and termination.

Gaps in Management: Traditional Functions vs. Actual Behavior

10. Gaps in Management: Traditional Functions vs. Actual Behavior

This lesson explains the gap that appears between traditional functions of management (planning, organizing, leading, and controlling) and the actual behavior of managers.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support