Roi formula - Study guides, Class notes & Summaries

What is the industry term used to describe the sum of prices paid by a business's customers? - ️️Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ️️Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ️️Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ️️Profit What element is not present in a barter economy? - ...

Revenue - ANSWER-The total number of sales achieved in a specific time period. Calculated as: # of units x unit price= Revenue Accountants Profit Formula - ANSWER-Sales= Cost + Profit (Profit= Revenue- Expenses) Profit - ANSWER-The net value achieved by a seller and a buyer in a business transaction ROI (Return on Investment) - ANSWER-ROI= Owners Investment Return / Owners Original Investment Revenue Manager - ANSWER-The individual or team responsible for ensuring that a company p...

Revenue - ️️The total amount of sales achieved in a specified time period. Revenue is calculated as: - ️️Number of units sold x Unit Price What do effective managers of an organizations revenues must do these three things... - ️️-Understand the importance of revenue management -Understand the many complex factors that influence revenue management strategy and tactics -Become better at making revenue management decisions than their competitors Accountant's Profit Formula ...

Operations duties - ️️-Process, plant management -Capacity planning (resources, speed, how much how fast) -Scheduling jobs/people -Waiting line management -Process improvement projects Aspects of QUALITY (competitive priorities) - ️️-Design Quality -Material and production quality -Quality level delivered (how it looks when delivered) -Consistent quality (builds trust) -Service quality (sales, support, repairs) Supply chain management- - ️️Efficient integration of: -Suppli...

What is the industry term used to describe the sum of prices paid by a business's customers? - Answer-Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer-Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer-Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - AnswerProfit What element is not present in a barter economy? - Ans...

Hospitality Revenue Management 2024 Exam Review What is the industry term used to describe the sum of prices paid by a business's customers? - ️️ - total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ️️ - costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ️️ - profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? - ️️ - profit...

Quality _______ is measured by how well the product or service successfully serves its users' purpose. E-commerce sales and door-to-door sales What are two examples of direct distribution channels? Middlemen Indirect distribution channels use _______ to sell their products to the end customers. Idea The first stage of the product/market fit is the ________ stage. prototype The second stage of the product/market fit is the ________ stage. launch The third...

What is the formula for determining income tax expense? Income tax expense= Gross profit x Tax rate What is the formula for determining a break-even point? Break-even point= Total cost/ Product or service sales price What is the formula for determining burn rate? Burn rate= Monthly starting balance - Monthly ending balance What is the formula for determining net profit? Net profit= Value of investment - Cost of investment What is the formula for determining a ...

ADR formula - ANSWER-Total Rooms Revenue / Total Rooms Sold Value proposition - ANSWER-when a seller communicates to a buyer a description of a product to be sold and the price at which that product will be sold Owners ROI formula - ANSWER-Owners Investment Return/ Owner's Original Investment Profit - ANSWER-net value achieved by both parties in a business transaction GOPAR formula - ANSWER-Total revenue - Management Controllable Expenses / Rooms Available to sell Destination mar...

Revenue management final ADR formula - ANS->>Total Rooms Revenue / Total Rooms Sold Value proposition - ANS->>when a seller communicates to a buyer a description of a product to be sold and the price at which that product will be sold Owners ROI formula - ANS->>Owners Investment Return/ Owner's Original Investment Profit - ANS->>net value achieved by both parties in a business transaction GOPAR formula - ANS->>Total revenue - Management Controllable Expenses...