Suppose That on a Saturday Night at 10 Pm, a Large

question 149

Essay

Suppose that on a Saturday night at 10 pm, a large hotel has 300 vacant rooms, with little expectation of renting them at such a late hour on a weekend.A traveler comes in the door, looking a bit down on his luck, and asks how much a room will cost.Since he can't afford the normal rate of $150, the night manager decides to let him stay in the room for only $40.Is it likely that this decision reduced, or increased, the hotel's profits? Explain your answer.

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Definitions:

Behavioral Components

Elements that constitute the actions or reactions of individuals in response to external or internal stimuli.

Transformational Leadership

A leadership approach that fosters positive changes in those who follow, often through a leader’s enthusiasm, passion, and energy to inspire and motivate towards broader goals.

Inspirational Motivation

The ability of leaders to inspire and motivate followers to achieve higher levels of performance and commitment through a compelling vision and enthusiasm.

Intellectual Stimulation

The encouragement of creativity and critical thinking in others to inspire innovation.