Entrep Reviewer

enterprising- imagination, initiative, readiness

entrepreneurial- willing to take risk to create value

entrepreneurship- tenacity and achievement

entrepreneurs that changed the world

tony tan caktiong- jollibee walt disney – the walt disney company

angeline tham- angkas phil knight - nike

elon musk- aerospace (space x) amancio ortega - zara

mark zuckerberg- facebook anne wojcicki – 23 and me

larry page and sergey brin- alphabet (google) reed hastings – netflix

steve jobs- apple howard schultz – starbucks

triple bottom line (TBL)

profit – real economic value

people – business impact on employees

planet – environment stewardship

4 (four) dimensions

curiosity – thirst for new experience, knowledge, and experience

insight – ability to gather and synthesize information

engagement – ability to connect with others

determination – persistence to overcome obstacles

3 (three) indispensable contributes

entrepreneurs create new business

entrepreneurs contribute greatly to national development

entrepreneurs create social change

4 (four) various spectrum of entrep

entrepreneurs on starting a business from scratch

entrepreneurs starting a family business

entrepreneurs entering a partnership

entrepreneurs buying an existing business

5 (five) entrepreneurial traits

entrepreneurs have an empowering perspective of failure

entrepreneurs know a little about a lot

entrepreneurs give and receive praise collection

entrepreneurs fly with eagle

entrepreneurs look into the future

3 ways enhancing entrep curiosity 3 types of innovation

ask the right question process/innovation

innovation time product/service innovation

always listen without judgement disruptive innovation

2 types of of disruptive innovation

low-end disruptive innovation

new-market disruptive innovation

handout 1 applied

personalization of experience- creates individualized guest experience by incorporating

flexibility and customizability to the offered services offered

digitalization of service- affords guests to browse, plan and pick activities of their own.

advance hospitality services

ensure guest satisfaction by allowing guests to control their environment

provide guests with location-based services

make it easy for guests to participate in loyalty programs of the hospitality service
program

scope of improvements in hospitality services

future of HM industry is being shaped by advancement of internet of things (IoT)

technology

body area sensors – smart and wearable devices such as smartphones, etc

augmented reality and beacon technology – enhanced version of reality created by using of
techs to overlay digital infos being viewed through device

energy management – energy-saving systems currently in one place at many hotel

properties including smart lighting and temp control systems

building automation and monitoring – both guests and services providers benefit from
building automation and monitoring

handout 2 applied

business tool- asset that helps an org in achieving its stated aims or objectives

telephone systems

-voice over internet protocol (VoIP) telephones

auto attendant- hotels can rely on auto-attendant function to handle bulk of guest
inquiries

room extensions- extension calling can match room numbers up to 4 digits in some phone
systems

DECT handsets- this enables them to provide better and faster service no matter the
request

voicemail- hotels are expected to provide an integrated voice messaging systems for their
guests

call accounting- call accounting systems enables properties to resell telecommunications

services to guestrooms, meeting rooms, etc

unified messaging- this can be thought of as a universal mailbox

direct inward dial (DID)- outside callers can call an extension at the property directly
without going through an operator/ automated attendant

music on hold- an opportunity for hotels to play promotional messages for callers and
special features

video and audio conferencing- video and audio-conferencing call functions are now desired
by leisure travelers

computers, softwares and the internet

property management systems (PMS)- software suites that assists hotels, resorts with
day-to-day tasks

point-of-sale (POS) system- referred to as “restaurant point of service”

revenue management systems (RMS) – is a software solution that allows a property to

carry out important revenue management tasks

distribution channel manager- refers to a chain of intermediaries that hotel room passes
through before it reaches the customer

rate shopper software- has the benefits of simple graphics and easy-to-use reporting
tools

reputation and review management software- is designed to track online users feedback on
service or products
hotel app- software app that has been specifically designed to run on a mobile device

online booking engine- is an essential and effective tool that will significantly increase
bookings

website builder – helps hotels create a website for their business

- offline website builders- allow a user to download and install a tool in computer
- online website builders- allow beginners or experienced hotel owners to create a
website within a few minutes

benefits of using hotel management software

simplified processes – one of the major advantages of using hotel management software
solutions

reduced costs- these apps and systems can lead to significant costs-savings in the long
run.

increased revenue- a hotel management software can also help in increasing the amount of
revenue

improved customer experience- pms solutions offer point-of-sale options, making payment
for hotel services easier

competitive advantage – one of the most substantial reason why poperties should utilize
hotel management software

handout 3 applied

e-commerce essentials

e-commerce- involves the use of internet or simply web

digitally enabled transactions- include all transactions mediated by technology

commercial transactions- involve the exchange of value

technological building blocks of e-commerce

internet- worldwide network of computer networks built on common standards

world wide web- information system that runs on internet infrastructure/ killer app

mobile platform- provides the ability to access the internet from a variety of mobile
devices

app- software application that is typically used when referring to mobile apps

mobile browser- version of web browser software accessed via mobile device

types of e-commerce

business-to-consumer (B2C) e-commerce- common type of e-commerce that most

consumers are likely to encounter

business-to-business (B2B) e-commerce- largest form of e-commerce which businesses

focus on selling to other businesses

consumer-to-consumer (C2C) e-commerce- provides a consumer to sell each other with

help of an online market maker

mobile e-commerce (m-commerce)- refers to the use of mobile devices to enable online
transaction

social e-commerce- enabled by social networks and online social relationships

variation of social e-commerce known as conversational commerce

e-commerce business models

business model is a set of planned activities or business process designed to result in a

profit in a marketplace.

e-commerce business model aims to use and control the unique qualities of the internet
major business-to-consumer (B2C) business models

e-tailers- are similar to the traditional storefront except the customers only have to
connect to the internet

community providers- create an online environment where people with similar interests can
transact

content providers- distributes infos content such as digital video, music, photo etc

protals- generate revenue by charging advertisers for ad placement

transaction brokers- companies that process transactions normally handled in person

market creators- builds a digital environment in which buyers and sellers can meet

service providers- entities offer services online and use of variety of revenue models

major business-to-business (B2B) business models

e-distributors- companies that supply products and services directly to individual business

e-procurement- create and sell access to digital markets

exchanges- independent digital marketplaces where hundreds of suppliers meet a smaller

number of large commercial purchasers

industry consortia- industry-owned vertical market place that serve specific industries
such as automobile, aerospace, logging

digital commerce marketing strategies and tools

build customer relationship so that a firm can achieve above-average returns both by
offering superior products

major types of marketing

website- is a major tool for establishing an initial relationship with customer

traditional online marketing- basic marketing and advertising tools

search engine marketing- refers to the use of search engines to build and sustain brands

display ad marketing- display ad is made up of texts, images or videos

eg: banner ads, rich media ads, video ads, sponsorship

e-mail marketing- one of the first and most effective forms of online marketing

affiliate marketing- form of marketing where a firm pays a commission

viral marketing- form of marketing that involves getting customers

social marketing and advertising- involves of using online social networks and communities
to build brands and revenues

mobile marketing and advertising- includes the display banner ads, rich media, video, games

local marketing- growth of local search and purchasing

e-commerce issues

ethics is at the center of social and political discussions

4 major dimensions

privacy issues- most complex ethical issue raised by e-commerce

intellectual property rights- most controversial issue related to e-commerce

governance- something to do with social control as it is related to e-commerce

public safety and welfare- critical issues in e-commerce around protection of children