Course Code hcm441 Question providing a high-quality products at low prices is called a…..... strategy Answer hybrid Question According to …......... hospitality industry encompasses travel, accommodation, food service, clubs, gaming, attractions, entertainment and recreation. Answer Nykiel (2005) Question The process of constantly keeping track of changes in the firm’s external environment to access the trends that create opportunities or pose threats to the firm is called …......... Answer environmental scanning Question Based on the competitive forces that emanate within the industry environment, Porter developed …..... model Answer five forces Question A price based strategy seeks competitive advantage by offering the …..... in the industry Answer lowest prices Question Which of the following is not an external environmental factor that affects tourism organization in Nigeria? Answer Diversification Question …......... as an all-encompassing term that covers all aspects of people being away from their homes Answer tourism Question The main aims of Strategic management is to create…...... ? Answer competitive advantage Question The third schools of thoughts on strategic management was developed in the ….......? Answer 1980s Question The second schools of thoughts on strategic management is …....... Answer Planning Try Another Search