Planning Can Best Be Defined as Preparation for the Future

question 4

True/False

Planning can best be defined as preparation for the future.

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Definitions:

Global Procurement

The process of sourcing goods and services from the global market to exploit global efficiencies such as lower cost, enhanced quality, and better supply dynamics.

Hospitality Environment

The setting or atmosphere provided by businesses in the hospitality industry, such as hotels, restaurants, and bars, aimed at providing services for guests or visitors.

Multinational Hotel

A hotel business that operates in multiple countries, catering to international standards and diverse clienteles.

Contractual Risk

The potential of loss arising from the obligations outlined in a contract not being met by one or more parties.