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Brand

The American Marketing Association defines a brand as a name, term, sign, symbol, or design, or a combination of them, intended to identify the products or services of one seller or group of sellers and to differentiate them from those of competitors. A product or service's brand reveals its functional, pleasure, and symbolic values as a reflection of the buyer's self-image. The brand summarizes all the attributes, values, and principles infused into the product or service.

Branding

It is very popular today to describe everything and anything for consumption in the marketplace as a 'brand.' The business writer Tom Peters even coined the phrase 'The Brand Called You!' to suggest that individuals share characteristics with consumer products (Peters, 1997).      

Break-even analysis

Sometimes referred to as cost volume profit analysis, break even analysis considers the inter action among fixed costs, variable costs, and revenue. When revenue is sufficient to cover both variable and fixed costs exactly, but insufficient to provide any profit (i.e. profit is zero), the operation is at the break-even point (BEP). The key assumptions are that fixed costs remain constant and that variable costs change at a constant rate with sales. Moreover, the technique requires that those costs that have fixed and variable components will be addressed accordingly.

Breakout sessions

Breakout sessions occur during the course of a meeting agenda, in which participants may choose the session most relevant to their needs or be assigned to a number of smaller sessions occur ring simultaneously. Unlike plenary (general) sessions, which are convened for the entire group of participants in attendance at a meeting, breakout sessions are convened to target the interests or skill level of a sub set of meeting participants. The sessions may provide the opportunity for more in depth presentations on a particular topic, or for exercises or hands on activities.

Budget methods

Budgets are a quantitative expression of a proposed plan of action. Widely used by hospitality managers for directing and controlling operations, such plans may be presented in a variety of forms. For example, 'traditional' static budgets are based on one particular planned volume of activity, such as the numbers of covers in a restaurant, which is consistent with the achievement of an organization's strategic objectives.

Budget variances

The analysis of budget variances enables hospitality managers to 'drill down' into the cause(s) of differences between actual and budgeted performance levels. Sales variances, for instance, focus on the impact of differences in sales volume and selling prices on an organization's profit. In order to enhance the usefulness of this analysis, sales variances are typically expressed as [contribution] margin variances.

Budgetary control

Operating budgets are meaningless unless they assist in controlling the business in optimizing revenues and costs to maximize profits. The objectives of control are to:
* Safeguard assets.
* Ensure accuracy and reliability of data.
* Promote efficiency.
* Encourage adherence to prescribed managerial policies.     
Use of the Uniform System of Accounts for the Lodging Industry or similar enables depart mental reports to be produced for managers for both actual and budgeted ('standard') results.      

Budgetary preparation

Budgets form a detailed operating plan that looks at all aspects of the hospitality organization for the forthcoming financial year. Strategic plans require annual budgets to assist in achieving long term objectives, perhaps with the aid of a balanced scorecard approach, that are then converted to financial and statistical information.      
The benefits of budgeting are:
* Provides a working plan to assist in achieving these organizational objectives.
* Reflects ongoing activities and new projects.

Building codes

Building codes specify construction methods and materials to protect the safety and welfare of people. Three major model building codes existed in the United States prior to 1994. These were the National Building Code (NBC), developed by the Building Official and Code Administrators International (BOCA), the Southern Building Code (SBC) developed by the Southern Building Code Congress International (SBCCI) and the Uniform Building Code (UBC) published by the International Conference of Building Officials (ICBO).      

Building components

Major building components include items such as foundations (located under or at ground level), structural framing (usually steel but can be wood in smaller structures), or bearing walls (often poured concrete or concrete block but sometimes wood as well) providing the above ground physical support for the structure, curtain walls or other types of exterior facade or fenestration (glazing) (providing a weatherproof exterior for the building), the roof (consisting of a roof deck and weatherproof covering), interior walls (often with a steel or wood framing covered with drywall), and various