Describe external events that affect the industry.
Description should include
- regional events
- economic context
- government and corporate regulations
- international relations and terrorism
- natural disasters and weather events
- pandemics and other health-related concerns
- war.
Process/Skill Questions:
Thinking
- Why is it important to be familiar with regional events that may affect the industry?
- Which national events create local opportunities in the hospitality industry?
- How can a natural disaster affect the industry?
- How can weather affect the industry?
Communication
- Why is it important to communicate changes in government and corporate regulations?
Leadership
- How can national or state leadership contribute to the local economy?
- What leadership skills are necessary for multinational operations?
Management
- How do managerial decisions affect the bottom line?
- How does management assess economic resources in the region?