Professional Documents
Culture Documents
SUBSTITUTABILITY
• Consumer choose between available products
and services that are interchangeable which can be
substituted for one another.
COMPLEMENTARITY
• The right combination of products and services
will encourage more revenues.
LEXICOGRPAHIC ORDER
• Pair of elements within basket wherein one good
is always preferred over another one. THE TOURISM AND HOSPITALITY
PROFESSIONAL (Week 2)
MACROECONOMICS AND
MICROECONOMICS 1. Direct
• Deals with the demand-side of the business,
MACROECONOMICS refers to jobs where employees have face-to-face
• Looks at the big picture. contact with tourists.
• Highlights factors that directly affect the
entire industry. 2. Indirect
• Review the global impact of major issues • Works with the supply side, includes jobs with
• Seeking solutions to central bank policies, intermediaries such as restaurant suppliers,
fiscal laws and legal regulations. contractors, marketing consultants and handicraft
producers.
MICROECONOMICS
• Focuses on details. Employment in the Industry
• Emphasizes factors that directly influence • International Labor Organization (ILO)
an organization. describes it as “labor-intensive where working
• Studies the effects of key concerns conditions are often precarious due to the
• Finding answers to number of workers, seasonability, low wages, low union density
pricing strategies and possible damage. and long working hours.
ANALYSIS USING SWOT • It “provides opportunities for women, young
adults and migrants who generally receive
• It is a techniques used to review the internal limited training.
and external position of an organization in • Women represent as much as 70% of the global
relation to the business landscape. tourism workforce.
• Ability to work
Forecasts independently and
• WTTC forecasted that by the year 2030, there with a team
will be 1.8 million international tourists (UNWTO, • Ability to think quickly
2011). • Integrity
• IATA reveals that there will be 7.8 billion air
passengers by 2036. Ethics in the Workplace
• Data from Economic Impact of Travel and • Ethics – “a set of moral principles, especially
Tourism ones relating to or affirming a specified
2015 Annual Update Summary reports that total group, field, or for of conduct”
travel and tourism gross development product • Ethics – from Greek word “ethikos” – “of or
(GDP) will grow at an average of 3.8% per yar for morals”.
from 2015 – 2025. • Morals – from Latin word “mos” – “distinction
• The industry are projected to generate 72.9 between right and wrong”
million new jobs. 10 Ethical Principles for Tourism
and Hospitality Managers
Diversity in Workplace • Honesty
• Diversity – “the mix in the workplace of • Integrity
people from different race, cultures and • Trustworthiness
backgrounds” • Loyalty
• “Cultural Diversity refers to the cultural • Fairness
differences between people that includes • Concern and respect for others
language, manner of dressing, traditions, • Commitment to excellence
morality, religion, social organizations as well • Leadership
as the way they interact wit the environment. • Reputation and morale
• Accountability
Layers of Culture
1. Internal Dimensions Five Career Paths
• Refers to demographic information such as age, 1. Front Line
gender, ethnicity, sexual orientation, race and • These are also referred to as rank-and-file
physical ability. employees.
4.
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Barriers to Travel
3.
5.
Example:
• Hodophobia (Fear of traveling)
• Aerophobia (Fear of being in an airplane)
• Vehophobia (Fear of driving)
• Amaxophobia (Fear of riding in a car)
• Thalassophobia (Fear of sea travel)
• Siderodromophobia (Fear of Trains)
• Escalaphobia (Fear of Escalators)
• Claustrophobia (Fear of Enclosed Spaces)