Scribd
Upload
420 views1 page

Benchmarking for Hotel Success

Benchmarking is a better planning tool than forecasting because it allows businesses to focus on qualities that give them a competitive edge, boost learning, and encourage sharing of new ideas. A five-star hotel owner can use benchmarking to compare performance metrics to competitors and identify areas for improvement or increased profits. The most important step in decision-making is analyzing alternatives because thoroughly evaluating options provides a backup plan and ensures the best decision is made by finding crucial details that could lead to problems.

Uploaded by

hyunsuk fhebie
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
420 views1 page

Benchmarking for Hotel Success

Benchmarking is a better planning tool than forecasting because it allows businesses to focus on qualities that give them a competitive edge, boost learning, and encourage sharing of new ideas. A five-star hotel owner can use benchmarking to compare performance metrics to competitors and identify areas for improvement or increased profits. The most important step in decision-making is analyzing alternatives because thoroughly evaluating options provides a backup plan and ensures the best decision is made by finding crucial details that could lead to problems.

Uploaded by

hyunsuk fhebie
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Activity 2

1. Which in your opinion is a better planning tool: forecasting or benchmarking? Explain your
answer.
Answer: For me, benchmarking is a better planning tool. It is because benchmarking allows
businesses to concentrate on qualities that are crucial to gaining a competitive edge. Boost
the rate at which a company learns. Benchmarking encourages fresh ideas and allows
employees to share their experiences.
2. How can planning through benchmarking be used by the owner/manager of a five-star hotel?
Explain your answer.
Answer: Benchmarking allows five-star hotels to compare their performance to that of other
hotels in the sector. Benchmarking determines whether your performance is better than or
worse than that of your competitors. It will show you where you need to make adjustments
and how to increase profits.
3. Enumerate the steps involved in decision-making. Which in your opinion, is the most
important step? Explain your answer.
Answer:
Step 1: Identify the Problem
Step 2: Identify the Decision Criteria
Step 3: Allocate Weighs to the Criteria
Step 4: Develop Alternatives
Step 5: Analyze the Alternative
Step 6: Select and Alternative
Step 7: Implement the Chosen Alternative
- The most important step for me is Step 5. Analyzing the Alternatives is because
having alternatives is just like having a second chance. If you can’t fully identify what
was the problem, there should be a problem that will occur. In this, having an
alternative should be analyzed carefully because this will serve as your last chance,
and is very crucial in decision making. You can’t always change your plan, you must
have a firm decision on everything.

You might also like