1.       Which statement(s) is (are) correct?

a.       The planning horizon for any business is between three and five years.

b.      Forecasts that extend beyond the planning horizon are less credible.

c.       The planning horizon should be the furthest point in the future considered by the business plan.

d.      The planning horizon for a hotel owner is determined by the length of the management contract.

2.       What statement would a hotel owner prefer to see in the business plan for a hotel destination spa, if he or she wants to evaluate whether the GM has the support of the management team?

a.       I have decided that we need to invest more money in the spa.

b.      These financial objectives for the spa are in line with those revealed to me privately by our closest competitors.

c.       The spa manager and head of rooms division have presented the following alternative scenarios for the development of the spa business following our recent brainstorming session.

d.      The future success of the spa business is probably not assured but it is not considered something we can do much about.

3.   What are the two missing items in this list of planning components for a hotel owning company? Historical data, Forecasting, Strategy , Management

a.       Statement of Source and Application of Funds

b.      Profit and Loss Account

c.       Benchmarking

d.      Experience

4.   What is the group of words missing from this statement about organizational planning?

One category of organizational planning is to ______ what may happen in the future, by using known facts, _______ and _________ to generate a ________ of future performance.

a.      Guess, Relationships, Assumptions, Forecast

b.      Predict, Relationships, Assumptions, Budget

c.       Predict, Relationships, Facts, Forecast

d.      Predict, Relationships, Assumptions, Forecast

5.   What is the group of words missing from this statement about organizational planning?

Another category of organizational planning is to ________ established theories on how the business ________, by looking at generally accepted _____ or current relationships between business processes and the ________ generated.

a.       Challenge, Operates, Past, Outcomes

b.      Disprove, Operates, Past, Outcomes

c.       Challenge, Operates, Past, Profits

d.      Challenge, Manages, Future, Outcomes

6.   What is the group of words missing from this statement about organizational planning?

A third category of organizational planning is to ________ and ______ a ______ business model. This type of planning allows ___________ to assess changes to the way the business operates.

a.       Broken, Innovate, Management, Repair

b.      Innovate, Renew, Established, Management

c.       Innovate, Grow, Established, Human Resources

d.     Maintain, Reinforce, Established, Management

7.   Which of these statements is unsuitable for inclusion in a business plan?

a.       We will make sure that we do things as well as the competition does in order to maintain our position in the market.

b.      We will focus our planning efforts on business process and not on the outcome.

c.       Too much emphasis on the outcome may cause short-term decision-making and the risk that strategy will be forgotten.

d.      The planning process must aim to make the business better than the competition.

8.   In order to establish a business planning strategy that can be aligned with budgets, managers need to (select the 4 statements that apply from the list below):

a.       Communicate how these actions relate to individual departments.

b.      Write a vision and mission statement

c.       Ensure that adequate resources are available.

d.      Get approval of the annual budget from shareholders

e.      Choose a course of action to meet these goals for a given business environment.

f.        Set realistic goals.

Using the 2009 Budget (Money is given in Canadian dollars), prepare a break even analysis to find:

1. At what trip fee does JUDES break even on the trips?

2. At what participant level does JUDES break even on the trips?

Please show all formulas and calculations so I can follow along and learn how to apply the concepts for the future.

SWOT Analysis

            Marriott International Inc. is a leading firm in its industry. It is known for aiming to maintain its dominance in its position in the market. A SWOT analysis of Marriott shows the following;  

Strength

Marriott has a track record that shows it has never failed in integrating complementary firms. It has always been successful to do all this through mergers and acquisition. It has done all this to ensure its operation are smooth and with less completion. Marriott is innovative and has hotels all over the world. They are innovative because they recently launched a mobile app. You can see advertisements about it on Facebook or other social media platforms. (Marriott corporate.2017). You no longer must use a key to get into your room. You just unlock it with your phone now. Not just that but you can do a mobile check-in and skip the front desk. Also, Marriott has its presence and reputation all over the world which makes them well-known in quality business.

Weakness

            Marriott Inc. is well known for its desire need to expand. The business has expanded so much to the extent of failing to monitor and maintain the quality of their services throughout. I know this first hand all their hotels are not the same. Some may mention the fact that the Marriott is a family company and how this creates room for error. And it could. Understanding that family tradition and family opinions can offend others or promote an atmosphere that feels "stuck" can put a roadblock up for those future investors. (Marriott corporate.2017). Another weakness is even though they are expanding to many other countries, this could also lead to over population of the hotels and not further along other local companies or promote more of a diversity in the market.

Opportunity

            The opportunities Marriott has been modernizing their hotels rooms to fit the trending market and more profitable emergence into new marketable areas. (Marriott International Inc.2017) For the interior design point, there is room to create more of a unique home familiar style within the walls of its rooms. This allows for a better experience for the loyal customer and to the old customer who thought they may have not liked the hotel franchise. The other opportunity of emerging into new markets creates a profitable growth for the company to expand their presence into new categories such as the technology market. Bringing in the google home or amazon Alexa experience or personalize the delights that customer have in their everyday home and bringing it into the hotel room will only further the experience. (Marriott International Inc. 2017)

Threat

            Vulnerability to terror attacks- the travel industry is one that is highly targeted by terrorists. Especially 5 star rated properties. If it were to get attacked, the firm would lose its trust in their esteem clients. Threats to Marriott include more competition to enter the existing hotel industry and price freezing. As more and more innovative companies make a break through, there is more attraction to them and the idea to try something new in the customer's perspective, leaving Marriott to fend for themselves in the fight of hotel rooms. Also, as the market expands, the prices of other companies can tend to look better, especially if they offer the same amenities and rewards.

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• Identify the most important or critical items on your SWOT Matrix that you believe warrant immediate attention to improve strategic management. Select one from each of the four categories.
• Be sure you justify your decisions.

3. In the US economy, nearly half of all workers employed by private firms work at the 0.3% of firms that have 500 or more employees.

a. What does this relationship mean for the power relationship between large firms and the labor force?

b. What do you think these large firms having such a market share of labor means for labor prices (wages)?

c. Can you propose a policy that would counteract this power imbalance?

The real risk-free rate, r*, is 1.6%. Inflation is expected to average 1.3% a year for the next 4 years, after which time inflation is expected to average 4.2% a year. Assume that there is no maturity risk premium. A 10-year corporate bond has a yield of 8.4%, which includes a liquidity premium of 0.3%.

What is its default risk premium? Do not round intermediate calculations. Round your answer to two decimal places.

Ten policyholders file insurance claims. Three of these claims are fraudulent. Three of the ten claims are randomly selected for thorough investigation. If X represents the number of fraudulent claims in the sample, P(X = 0) is _______________.

a. 0.7083 b. 0.2917 c. 0.0083 d. 0.3622 e. 0.5

QUESTION 19 For #18, what is the mean (expected) number of fraudulent claims in the sample?

a. 0.3 b. 0 c. 1.5 d. 0.9 e. 3

[Positive test] A patient is tested for a virus that is believed to be present in 5% of the population. If the test result is positive, compute the chance the patient actually has the virus… a. If the false-positive rate is 4% and the false-negative rate is 1% b. If the false-positive rate is 2% and the false-negative rate is 0.3% c. If the false-positive rate is 0.1% and the test never gives a false negative. d. If the test never gives a false-positive or a false-negative.

Q3. 40% of 500 employees of a company are females (other males). 30% of the employees are credit card

       holders, including 60 females. Use the contingency table for the problem situation to find the

       probability that an employee picked at random is:

       a. A female or is not credit card holder? (0.82) b. A male or a credit card holder? (0.72)   

       c. A female and a credit card holder? (0.12)

       d. A credit card holder if we know that the employee is a male? (0.3)                                             

Use the following information for Questions 23-24:

You are the manager of Lobo Corporation and you must decide between two mutually exclusive projects.The following information is available for the projects:

Required:

Compute the NPV for Project A.