Mixed Deck — All CGM Topics Flashcards

How can a general manager foster teamwork in strategic planning?

Answer: By encouraging collaboration, shared vision, and engagement in decisions

A general manager can foster teamwork in strategic planning by actively encouraging collaboration and ensuring all team members feel engaged in the decision-making process. By promoting a shared vision and valuing diverse perspectives, they build a cohesive unit committed to achieving collective strategic objectives.

What is the role of financial analysis in strategic planning?

Answer: It helps evaluate financial health, identify trends, and make informed decisions

Financial analysis is critical in strategic planning because it evaluates the organization's financial health, identifies key trends, and forecasts future performance. This information empowers general managers to make informed strategic decisions regarding investments, growth initiatives, and resource allocation, ensuring financial viability and alignment with long-term goals.

Which productivity metric is most commonly used to control housekeeping labor costs?

Answer: Labor minutes per occupied room

Minutes or hours per occupied room ties staffing directly to rooms-cleaned volume.

What does a gap analysis in strategic planning compare?

Answer: Current performance with desired future performance

Gap analysis identifies the difference between where the organization is and where it wants to be.

When evaluating whether to build or buy a technology solution, the 'buy' decision is MOST appropriate when:

Answer: A mature off-the-shelf solution meets the organization's needs at lower cost

Off-the-shelf solutions are preferable when they adequately address business needs and offer better cost efficiency than custom development.

Which of Porter's Five Forces describes the ability of customers to demand lower prices or higher quality?

Answer: Bargaining power of buyers

Buyer power is the leverage customers have to push prices down or demand more value.

Which document typically defines a company's standards for ethical behavior and guides employee decision-making?

Answer: Code of conduct

A code of conduct outlines the ethical standards and behavioral expectations for all employees.

A general manager who sets a compelling vision and inspires employees to exceed self-interest is practicing which style?

Answer: Transformational leadership

Transformational leaders motivate through vision, inspiration and individual consideration.

According to Hersey and Blanchard's Situational Leadership, a team with low competence but high commitment needs which style?

Answer: Coaching/Directing

Enthusiastic beginners need high direction with some encouragement.

In Certified General Manager, how should project management & execution challenges be prioritized?

Answer: Based on potential impact, urgency, and alignment with strategic objectives

Prioritizing based on impact, urgency, and strategic alignment ensures resources are directed where they will produce the greatest benefit.

In Certified General Manager, what role does employee training play in risk management & mitigation?

Answer: It ensures all personnel can recognize, report, and respond to hazards

Training empowers all personnel to recognize hazards, follow proper procedures, and respond effectively, making it a cornerstone of any safety program.

Why is employee engagement important for team development?

Answer: It increases motivation, productivity, and commitment to goals

Employee engagement is critical for team development as it directly impacts individual and collective performance. When employees are engaged, they are more motivated, leading to higher productivity and a stronger commitment to achieving team goals. This increased involvement fosters a positive work environment and encourages proactive contributions, which are essential for a developing and high-performing team.

A fuel-dependent firm locks in prices through forward contracts. What type of risk is being managed?

Answer: Commodity price risk

Forward contracts hedge against adverse swings in commodity prices.

A general manager who accepts gifts from vendors in exchange for awarding contracts is engaging in:

Answer: Bribery and a conflict of interest

Accepting gifts in exchange for business decisions constitutes bribery and a direct conflict of interest.

Management decides not to enter a market because of political instability. Which response strategy is this?

Answer: Avoidance

Avoidance eliminates the risk by not undertaking the activity that creates it.

A general manager discovers that a sales team member has been falsifying expense reports. What is the MOST appropriate first step?

Answer: Conduct a quiet internal investigation before taking action

An internal investigation should be conducted first to gather facts before deciding on disciplinary action.

Which factor is MOST important when evaluating the effectiveness of risk management & mitigation measures in Certified General Manager?

Answer: Reduction in incident rates over time

The most meaningful measure of safety effectiveness is whether actual incident rates decrease over time, as this reflects real-world outcomes.

A manager wants a metric that shows how many days of sales are tied up in stock. Which should she use?

Answer: Days of inventory on hand

Days of inventory on hand converts inventory value into the number of days of sales it covers.

What is the primary purpose of the Uniform System of Accounts for the Lodging Industry (USALI)?

Answer: To standardize financial statement formats so properties can be compared

USALI provides a standardized chart of accounts and statement layout that allows benchmarking across hotels.

A 300-room hotel budgets 70% occupancy and a $180 ADR for a 30-day month. What is the budgeted room revenue?

Answer: $1,134,000

300 x 30 x 0.70 = 6,300 rooms sold, and 6,300 x $180 = $1,134,000.