COMPLETE QUESTIONS AND ANSWERS
◉ What can yield management predict?.
Answer: Demand
◉ What does successful yield management produce?.
Answer: Maximize the total number of rounds available each day
◉ What is the formula for developing a yield management report for
a given period?.
Answer: Rounds Played / Potential Rounds X 100 = Yield %
◉ Why is monitoring performance considered a two-part process?.
Answer: Metrics and staff service quality
◉ What is the yield percentage if a facility sells 180 of 240 available
tee times?.
Answer: 75%
,◉ Managing by walking around is most effective when
organizational protocols are observed, such as, limiting conversation
to their direct reports. (T/F).
Answer: False
◉ Managing by walking around gives employees the opportunity to
air grievances. (T/F).
Answer: True
◉ One of the main benefits of the interpersonal management
approach to monitoring performance is to ensure policies and
procedures are being followed. (T/F).
Answer: True
◉ What is an effective means of monitoring performance while
"managing by walking around"?.
Answer: Observing, listening, and testing performance on an
ongoing basis
◉ What approach to management is described by observing and
following up on both positive and negative employee performance?.
Answer: Behavioral Management
◉ What is the main objective of behavioral management?.
,Answer: Manage employee behaviors
◉ What is the focus of the interpersonal management approach?.
Answer: Keeping track of performance and employee behavior
◉ Service improvements should be implemented when achievement
of anticipated benefits can be measured. (T/F).
Answer: True
◉ What could be the cause of "Overall poor service" issues?.
Answer: Poor systems, resources, or policies
◉ What is an example of an operational change made in response to
variances?.
Answer: Changing tee time systems
◉ When should management implement service improvements?.
Answer: When the desired benefit can be clearly measured
◉ How does the facility's overall vision and core values help the
retail manager?.
Answer: Solidify vision and core values that support vision
, ◉ For which purpose are the facility's core values and vision going
to be most useful to the retail manager?.
Answer: Guide the creation of all other aspects
◉ What should increase in the retail operation to add value?.
Answer: Quality and customer service
◉ The end of month inventory target for May is the same as the
COGS for June. (T/F).
Answer: False
◉ The cost of good sold can be calculated if both the turnover rate
and the average inventory value are known. (T/F).
Answer: True
◉ The BOMI predicts the dollar value of the inventory needed at the
beginning of each month to reach monthly sales goals. (T/F).
Answer: True
◉ The higher the turnover rate, the more inventory you need on
hand to reach the same sales targets. (T/F).
Answer: False